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I had two people write to me, complaining that Aden copied Peter Bain with his education. What can I tell you, from what I saw, he certainly did to a very large extent. I do believe in learning from the masters, like Peter. Why reinvent the wheel? But I still think if you are borrowing knowledge from someone else, you should definitely acknowledge the person that you are copying. In any case, I am not here to judge anybody for their morals, maybe Aden didn't copy anybody and it's just an unbelievable coincidence. Let me review the program. Well, obviously since the program is very close to Peter's, it can't be bad. However, here is why I ranked it 3 stars, and not 5 stars. First of all, in Aden's education, he doesn't put everything together very well. Yes, he is going over the pivot points, and some important indicators, but he doesn't have that very specific core, which puts everything together, like Peter does. Aden trades GBP/USD mostly, and by listening to his DVD and videos on his website, he doesn't go through the analysis methodically. He is kind of all over the place all the time. Aden, also has AM Reviews, like Peter, however, they are done in a much more primitive format, with pretty bad sound, and he doesn't have the visuals to get some of his points across. I don't feel the sense of forex community on Aden's members website, there is no huge library with many different trading techniques from many different members, like Peter does. Aden, does offer some specific trades, which you won't learn from Peter Bain, however you have to watch the market all day long in order to execute them. I personally don't have the desire to watch the market for long periods of times.
Bottom Line: Let's say Peter Bain's education is a Rolex in its category of forex technical analysis. I think Aden tried to copy Peter Bain, and I feel Aden's program is just like a Rolex knock-off. Except that it costs pretty much the same amount of money. Do you want to buy the real thing, Peter Bain's program? Or do you want to buy a knock-off, Aden's program? It costs almost the same, and I even get a bigger commission from Aden's program. So it's up to you :)
Steve, San Diego, CA
Rating:
Date of Post:
2008-05-08
Review:
Figures that Aden would try to blame everyone else for his actions. Do pull the Christian card, you make the rest of us look bad. I almost went in on the managed accounts, but thankfully did not. Was it the CFTC that caused Aden to respond immediately of you wanted to buy something but ignore you if you had questions? What a joke.
I did pay $400 for the tradestation charts that I never got. I was told I could wait and when I tried to get them or my money back, it was too late. I tried and tried to get my money back, but it was too late. When someone takes money from me and then fails to deliver or return the money, that's a crook in my book.
Anon, Virgin Islands
Rating:
Date of Post:
2008-04-19
Review:
Aden,
I'm surprised you have the guts to come online and try and justify yourself and your dishonesty.
You took my own account from $25,000 to $700 in the space of 5 months.....pure stupidity on your part and mine.....a great book for you to read would be 'The God Delusion' by Hawkins...it might make you take fulkl accountability for your own actions instead of trying to defer them in the name of religion.
Anon,
Virgin Islands
2007-01-22 1 Star I opened a managed account with Aden Rusfeldt in June 06 - with $25,000. The only thing that convinced me about his ability was that he was offering Dukascopy as a platform at the time, I trust them and spoke to them...they said that he had come highly recommended...He no longer offers Dukascopy as an option. The account was immediately approx $11,000 down, this reversed a few weeks later and the account was then $5,000 up. By Thanksgiving 2006, the account was down and holding on to around $19,000 losing positions. The day after thanksgiving, the account was worth approx $700....I wrote to Aden who e-mailed back saying: "Your account received a margin call today. I seriously feel like jumping off a bridge. I just lost a lot of personal money. I am going to take a break from trading for awhile. I seem to only do really well when I only trade my account. I have no idea why. It's not any of my clients fault, I take full responsibility and am deeply sorry for the loss. Their is nothing I can do at this time to remedy it. I am very sorry. - Aden" By the time I went to withdraw the remains of the account a couple of days later. There was around $400 left which Billy kindly sent to me. Aden, if you're reading this, I honestly think you should do the right thing and quit this business immediately...you have caused much loss & heartache to a number of people and will only continue to do so if you insist on playing / gambling with other peoples money. I wish I had read this site before I got involved with this guy and strongly discourage anyone from opening an account with him or buying his course.
2007-01-25 update Hi All, I have filed a complaint about Aden with the CFTC & NFA who will investigate Aden's operations. I checked back through my statements and my account only opened 22 July 06 and closed 23 Nov 06. During this period, Mr. Rusfeldt made 3,963 trades!!!! This would be consistent with him receiving kickback commission for each trade made whether they be a positive or negative outcome. Shall keep you posted on the CFTC / NFA outcome.
Jeff, Porter, TX
Rating:
Date of Post:
2008-04-10
Review:
Mr. Rusfeldt,
If the CFTC were to require everyone who manages money to be registered with a NASD Series 3 license, this would not stop renegade traders such as yourself from trading 8std lots on a $30k account and adding to losing positions, which is what you were doing to your clients. Thus, for you to make this statement is totally ridiculous. You refer to "reporting", well reporting wasn't your problem. It was your TRADING, that was your weakness, and the fact that you lied about your "rebates" generated and paid to you no matter what the outcome of the trades were. This is what you need to take responsibility for, not "reporting" issues.
Aden Rusfeldt, Houston
Rating:
No Rating
Date of Post:
2008-04-03
Review:
I truly am sorry for my trading losses. I have repented before the Lord and apologize to my former clients who lost money with me. As you can see from the CFTC final judgment I am not allowed to sell forex courses or manage money in the forex or futures industry anymore. There are a few things that need to be clarified.
1. This was NOT a criminal case, it was a civil case. I am not a criminal. I never accepted funds in my company’s name.
2. Lots of my former students had success with my forex trading course and techniques. My failure to follow the trading rules is no reflection on the course. I’m sorry I had to shut down the support side to my students but that is part of the CFTC order.
3. I am a Christian and attacks on me in that area are totally unfounded. Until you have walked a mile in ones shoes don’t judge him. What many people don’t understand is that you do not need to have ANY licenses to be a money manager in the forex. I did not have all my facts straight when I started out about the marketing and trade reporting rules. Because I ran MANY different strategies at different brokers I inadvertently crossed the line in the marketing and reporting areas. None of the brokers regulated me even though they were supposed to and I honestly did not know the marketing and reporting CFTC/NFA rules because I was never required to learn them. To this day none of the forex only money managers are required to learn the marketing and reporting rules of the CFTC/NFA, so how was I supposed to know them back in 2005? Right now many of the forex money managers in business are out of compliance. CFTC, if you read this please make the forex industry like the futures industry where all money managers need their series 3 and must be registered with the NFA as a CTA before they can manage money. Doing that will save a lot of clients from other non-informed forex money managers. It’s not an excuse because I take full responsibility for my actions, but it is crazy that I legally had as many clients as I did and was not required to take one class or pass even one test. Once again, I honestly did not know the rules and am sorry for my trading losses.
4. Not all of my clients lost money. I know a lot of them did and this is not excuse, but even the CFTC order says the “vast majority” of my clients lost money. Some of those that funded near the end of my career made money.
5. Not that any of my former clients care, but I did lose a lot of my personal money trading.
Aden Rusfeldt
Kevin, Seattle,WA
Rating:
Date of Post:
2007-11-05
Review:
I ordered the training course and was not impressed by it. I tried to send it back for a refund but I was not given a refund. I had e-mailed the sales support on the website before it was shut down and my e-mails were never answered and I lost the $400 for the course. Thanks Aden! Hope you are happy.
Juan Padial, Spain
Rating:
Date of Post:
2007-09-16
Review:
6 days and my account is 87% samller.
Josh Nyland, Utah
Rating:
No Rating
Date of Post:
2007-09-10
Review:
I am not sure how my name got linked to mentoring Aden Rusfeldt, because I have never mentored anyone. I do post 12 trading tips at http://www.fmalp.com but that is far from mentoring.
Josh Nyland
D. Wheeler, Dallas Texas
Rating:
Date of Post:
2007-08-12
Review:
Very sad! $11,000.00 down to $400.00. Looks like I was just another victim. Aden seemed very nice and claimed to be a Christian man. After reading all the post here I have learned more about him and what he had been doing. Seems that the law and courts in the southern district of Texas has taken a real interest in him and now all his sites are shut down.
Rob, Perth, Australia
Rating:
Date of Post:
2007-08-05
Review:
I bought Adens course over 12 months ago and I've got to say I did get a lot from it. It was my first time looking at the Forex market and thanks to Adens course I was making a nice living in no time, which was nice since I had been trying to trade the share market for months previously and didn't do any good. I came across this website just yesterday and was very surprised to read the reviews on his managed accounts. However, I feel I have to say if your going to hand your hard earned cash over to someone else because you feel it's easier than learning to invest it yourself, then accept the fact that no-one else is going to look after your money the way you would (but maybe they did in this case). Giving your money over to someone else is probably the riskiest thing you could ever do, so how about a few people take responsibility for their own actions and stop blaming someone, who no matter how misguided, probably was trying to do the right thing by you all. Maybe a few more people should read Robert Kiyosakis' "Rich Dad, Poor Dad". A well respected entrepeneur that teaches that it's better to learn to invest than to just hand your money over. I really hope all that lost money (as sad and unfortunate as it is) really spend the time to learn from it and not just play the blame game.
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