In the sales process they have you open an 'Actual Results' for the trade platform they are promoting at the time. They have a huge major disclosure page which they simply said 'Agree' to open to look at the page entitled 'Actual Results'. That was verbally claimed to be a live traded results for the last few years and was back tested account prior. However, hidden in their long text of Discalimers is defnitions to say that 'Actual Results' aren't actual at all. These Actual Results showed on average 2/3rd gains and 1/3rd losers and overall a slowly gaining account balance. What I suggest is that we provide here the actual trading results that we actually received in our accounts and compare them with their so called 'Actual Trading' results. Has anyone lodged any complaints with the US District Attorney's office? I read one post where someone said these people simply changed company names to dodge the repayment of the entry price which they promise if they failt make a profit after one year. Has anyone experience of this?
Longfellow, I have an account with them, I am doing ok not great but better than my bank and cd's. I was told that the results that I see on my account vary from the website due to the fact that there are many clients and not everyone gets the same price at entry or exit. In regards to changing name of companies I frequently call them with questions and they are very professional and answer my questions all the time and are patient with me as a novice as well. Are u a client of their's? If so contact me with your info and we can compare notes. But as of this post I have no problems with my account or with the custumer service. Bob
Hi all, If there are any real account holders with actual money invested then love to hear from you and compare results. Send a message public or private.
Well I replied to anyone who wanted to compare returns with me, but guess waht - noone has ever emailed me. Look - if any has a genuine account with these scammers then why don't you admit it and start posting some real results.
FACT: CTI used to be called Luxman Trading. Before that they were Black Box Experiment. FACT: They owe clients over 1.5 million in unpaid refunds. FACT: The owner is a convicted felon who did time in Federal Prison for securities fraud. FACT: They are currently under investigation. FACT: I know of two physical locations and the REAL names of the principals. FACT: go to www.rippoffreport.com, www.complaintsboard.com and the Better Business Bureau and type in luxman trading. You will find numerous complaints from actual clients that lost money. FACT: There ARE a few legitimate and reputable companies out there that offer automated trading systems that work well. Do your homework before you invest. Look for longevity and performance.
CTI is a rip off- The slippage they claim eats into any profit you might see on paper. After one year- paper profit trading 2 contracts was around $1000, actual result was a loss of 1900 + the lost 6k up front. They tried to get me into a new system called Victory Trading- watch out for Mark Bishop..... Also when I tried to mail my request for refund- I found they don't have an address...surprise!!
So much has been posted about CTI. I too worked there for a few months in 2009-2010. They have two boiler room offices- one in L.A. and the one I worked at 3990 Windward Newport Beach, CA. They have a p.o. box in Newport also. Everyone uses fake names. There was Tom Austen and Brian Winters and George Lucas, Phil Collins and several others, and the owners Joe and Jack Logan (real names are Kevin and Steve Symons). The "compliance" officer is a guy named Jim Kline who goes by Mark Bishop and one of the "partners" or "developers" (which is code for a closer) who goes by Bob Bennett is really a C list actor named Richard Eden. They pound the hell out of people and call them relentlessly and then bully people into getting their credit cards out to buy these trading systems. They go for $6K, but will take $5K if that's the best they can do. Everything is a lie. This one closer in the Newport office is a guy who is only about 25, but makes up this whole story about how he is a grandfather and worked for years on the floor of the stock exchange....everything is lies. There is no integrity when you have to make up your names. I just wonder how Kevin and Steve Symons live with themselves knowing that they have to use fake names at work. How shady is that?!?!? Rather than develop long term relationships with clients based on honesty and integrity, they try to gouge people, get as much out of them as they can and then ignore their requests when they try to get a refund because they have been ripped off. Also, the $6K amount of the trading system is a joke. That's all profit. And they don't limit the number of traders at 300 or 500 like they tell people. They just say that to make it seem like their is some urgency. They will tell people that there are 298 people signed up so far and they have just 2 spots left.....and obviously there are fools actually buy this crap! Remember people, if it sounds to good to be true it usually is. If you get a call from them hang up. Maybe consider changing your number even. It's a hassle but if they bug you that much it might be worth it.
William, I read your post and I am a little concerned. I applied for a job on craigslist and it is for sales. I talked to a Mr. Logan via email about the position. They told me that I would be compensated per sale. I told them I am a people person and they said all I have to do is get the ball rolling and they have "specialists" that can help me close. I really need to work but I don't want to get in a bad situation if the company is using fake names and other hidden practices. Can you give me your opinion? Tom
Tom, Yes they all use fake names. And what you described is true. You would be an "opener". Your job is to get someone interested, and qualify them by making sure they have the money and are really interested. Then you "flip" the lead to one of the closers (although they are always referred to as partners or developers). Once the closer gets them online they put the full court press on them and will do anything to get them to put this on their credit card. Don't get me wrong, the people are nice for the most part. But when you think about the fact that they all use fake names that should make you consider what they are trying to hide. Mr. Logan is really Kevin Symons.
I'm an actual paying customer and it sucked! Besides paying the $6,000 I lost about $9,000 in one year even though they claim the system made a profit. They would never respond to my refund request. They are a bunch of no good for nothings using false names and taking advantage of the public. You can never make money with the high commissions, leakage, etc. Better off burying your money in a can in the backyard. RM