Fraudulent Behavior Button Trader

Discussion in 'Trading Software' started by jtTrader, Dec 4, 2007.

  1. jtTrader


    Fraudulent Behavior Button Trader

    I have been a Button Trader user, but recently I have been swing trading and cancelled (I thought) my Button Trader subscription.

    I received an email from PayPal notifying me that another subscription payment had been sent to Button Trader. I immediately informed Button Trader that I did not want the service, and forwarded the same information to PayPal. My PayPal account also shows a cancellation of the subscription service.

    The response from Button Trader was “no refund” even though they were informed immediately and I have not used the product in a few months. They claimed they sent “warning” emails, but none were received. If so, I would have acted on it. Basically I paid for something I am not using, and it’s a forward license (next 3 months) so they have lost nothing. A reputable business would just refund your money. Had I waited a week or a month, I could understand, but this I cannot understand.

    Why they would want to collect $100 and lose me as a customer forever, I have no idea, but this is what they have done.

    I also plan to cancel my PayPal account. I do not see how I can prevent this from happening again.

    A warning to others about Button Trader, and subscription payments in general.
  2. Paypal does not offer the same protection as a credit card account. If your Paypal account was linked to a credit card rather than a bank account you can dispute the charge through your credit card company.
  3. RL8093


    The few times I've needed assistance w/ a dispute, the credit card companies have been helpful. During one dispute with a vendor who would not give up (Quicken), the card company did ask me to write up my version of what took place (w/ any supporting documentation). No problem - I provided info and Visa told Quicken to pound salt.

  4. Must be more to this story. Always known Hoi, the guy behind BT, as a very helpful and reasonable guy, not someone who would want to rip you for a mere 100 bucks.
  5. Catoosa


    I have had similar experiences with bank drafts and open authorized payments. When I authorize these drafts, I plan on closing the account on which the authorization was made when I stop the service. It seems the only way to do business with some vendors.
  6. How dare that form letter speak to me that way!
  7. When you say "cancelled (I thought) my Button Trader subscription", how exactly did you cancel ButtonTrader? This really should have been an easy matter. For instance, you could have emailed them prior to the subscription renewal, and requested an acknowledgment. If you did this you would have a record of these emails.

    You can also cancel subscriptions on PayPal as far as your payment goes. Did you do this prior to the renewal of the latest subscription?

    Finally, if you did all this, you should be able to dispute this with your credit card, and with PayPal as well.

    I'm in agreement with the other poster who said there must be something more to this that you have left out.

  8. jtTrader


    I thought Hoi (Robert) was a good guy too.

    Why would I cancel again, if I thought I already cancelled? I cancelled back in September. I'm going to remember to cancel again? Do you spend all your time re-cancelling anything you ever cancelled?

    Don't believe me? Do what I did and see what happens. You can cancel, right?

    From Hoi:

    May I give another example of a subscription you took. The quote-feed with MarketDepth you subscribed on at the IB-website, has the same rules and clarity: you take this subscription per month, and has clear-rules, that it renews each month, and that refunding afterwards is not possible. When you cancel this subscription in the middle, or even on the first day, the feed will run until end of the month....all very clear and fair, the same way it works with PayPal and ButtonTrader.
  9. RAY


    Dealing with Hoi has always been a pleasure.
  10. from my confirmation email

    On 2008-01-05 you will receive an automatic subscription renewal from PayPal. You should receive your new password on the same day as we receive your renewal. Be aware that if you want to cancel your subscription you need to do that before day 5 of the renewal-month (because refunding afterwards is not possible).

    I'm not 100% sure what 'Day 5 of the renewal month' means since this is my first go-around with BT... does this have something to do with the confusion here? If you buy 6 months from i.e. Oct 28 to April 28, does this mean that you would have to cancel your service before April 5th in order to avoid being charged again? Or does it say Day 5 in my email because my scrip expires on 2008-01-06? That is, if my scrip ran out on 2001-01-28, would the instructions say 'you need to do that before day 27 of the renewal month'?

    Hoi has a pretty good rep and I have never seen any complaints about this kind of thing from any of the BT users here for the past xx years.
    #10     Dec 5, 2007