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MarketTraders.com (MTI) Review

Overall Rating: (3.534)
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Total Reviews: 209
Last Updated: 2015-03-26
Special Notes:

AML, please use the discussion thread linked to this review page if you wish to share any further information.

Other websites of this company include: FOREXTIPS.COM, ITRADEFX.COM, nextstepfinancialholdings.com
 

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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 0   reviews REVIEWS submit review

FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2006-02-26
Review: We do not have any opinion about this company. Would love to hear some detailed reviews from other people.

Jesse, Washington DC, USA

Rating:
Date of Post:2015-03-25
Review: The fact that your a lifetime member heaps huge benefits for anyone who joins. Pertaining to cost i'd say MTI is somewhere in the middle.
The strategies taught seem to be on point and they do a good job showing you the same thing over and over again. I think its a good company and i'm very glad i'm a member.

J Walton, Florida, USA

Rating:
Date of Post:2015-02-23
Review: Its a gimmick. Big talk in their live FREE webinars that state they are going to give you a 12,000 pip trade, only to hustle everyone into buying their INSANELY priced crud that is FREE all over the internet. They offer no edge, nothing that cannot be found on youtube or a simple google search. These guys are like the PONZI frauds. They sell hyped up hope of getting rich and fulfilling dreams... no more, no less. Stay away from these bottom feeders. I tried Hector Deville before these guys. At least Hector runs an honest education site,is honest and nice guy and means well but once again, the info is everywhere. Stay away from MTI. They are con artists.

Juan Carlos, Caracas, Venezuela

Rating:
Date of Post:2015-02-13
Review: I recently gave MTI's Ultimate Traders Package a go basically because they gave me the option of trying it for a month for US$500 and were I not satisfied they would issue a refund to me. I believe now it is only fair and my duty as a trader that I share my MTI experience with the community.

At the beginning I wasn't very sure about it and also had some problems getting my paypal account to work properly, in the mean time they came with the $500 offer so by the time I've got my paypal account working I went for it, although I felt a little bit uncomfortable with the selling pitch tone around the whole thing.

Initially the course seems right. There's a lot of good psychological advice and compilation of good stories you can feel related too if you have traded for a short while. This part of the education aims you to earn conscience about the emotional side of trading, interestingly the same lesson uses a lot of your emotions to hook you into MTI's methodology, in which you 'should believe blindly just as the truth that the sun goes up everyday', or so they constantly say during the 15 lessons.

There's some good concepts about trend lines, trade check lists and a nice introduction to Fibonaccis but as for what the lessons is concerned I consider they are not worth US$4,500; which is the special discount price they offer down from the original US$7,500 the UTP costs. The information is presented in a simple way that makes it easy to understand basic trading concepts but still you could find all this and more in good books or other video courses made by professionals available on line for US$500 or less. UTP lacks specific lessons on Moving Averages and other basic indicators. However, they offer other things in the UTP so I kept on looking and trying to find the value in such things.

The charting software was not of my like at all, the colored Fibonacci Retracements tool is nice but other than that the charting software it's not nice to use. I'm a musician and video editor so I'm used to the high quality of Apple and Avid software with years of developing at the hands of the pickiest users in the world (artists) so maybe that sets the bar a little too high, but even comparing it with other charting software I still find it a little too raw and uncomfortable. The whole chart system also went down more than a couple of times during my month there at different times of the day, resulting in Analysts on demand suspended sessions and replays of videos re-explaining some concepts from the lessons.

Auto Trading Systems: I don't like them. They are only indicators set to throw signals under certain market conditions and nothing else. I felt very uncomfortable with the way they sell such systems as marvelous utilities.

Analysts on demand: This was the part I though was going to make the UTP worth the money. They do have one, maybe two interesting traders as it's been said here before, but again there were lots of off line time due to technical problems with MTI servers and charting software, and at the end the visions from MTI's analysts are very much in line with the whole Forex industry standards.

Ultimate Wealth Experiece: that's a 3 day on line presentation that basically comprises all the 15 lessons in 3 full day intense sessions. You need to attend it in order to get you refund as well as you need to take all lessons tests and watch 10 hours of Analysts on demand. It was not easy but it's doable if you have some previous knowledge and an off week to focus on this. The 3 days experience takes place on a Wednesday, Thursday and Friday period.

FXChief Menthorships: Again, the guy compiles a good set of histories and a interesting philosophical approach to trading, but later on the course and on trading exercises you can't help to notice this philosophy is not always fallowed as it should. There's contradictions like analysts trading with no stop loss, or even the FXChief constantly talking about "lots of money" when you are only supposed to think in PIPS in order to take the greed away.

Sales policy. This is what took me away the most from MTI. They are way too aggressive sellers. Every "Client Only Webinar" is a presentation to sell something, mostly auto-trading systems. They also begin to offer you extras so you pay the full tuition before the trial month ends. They constantly send you TONS of emails and call you on the phone to explain all this "opportunities" you have. Again, they say in Lesson 1 that you should always do you research in full before trading and then a couple of days later they try to convince you to stop your mutually agreed research on the UTP and hand them US$4,000 right away.

The worst was a late night call one of their representatives made to my house at 10:30pm (there's only a 30 minute difference between Caracas and Florida so it was 10pm in Florida, still too late). There were people sleeping, and having experienced recently a couple of midnight family emergencies you become not appreciative of unexpected late night phone calls. They did apologize properly later but it was already done and my patience began to run out. Never give them your home phone number. Never.

There's also too much cult like interaction in their presentations, too much "please say yes" "wouldn't it be great to earn this kind of money folks? type y or yes if you think this is great!". A lot of Intense selling tactics I would strongly recommend avoiding to anyone with the smallest self confidence issue.

The say they can't suggest a FX broker due to regulations but clearly favorite FXCM allegedly because their software is compatible with MT4. Needless to say what has happened recently to FXCM.

Now that I have applied for my refund they have offered me to take off half the price, I responded saying thank you but no and they didn't write back. I simply don't trust a product that tries so hard to sell itself, it's common sense and they at MTI should realize about it, because I believe this attitude will only hurt their business in time.

After I filed my request for refund I was contacted by a girl named Vanessa which wanted to discuss my decision. I said "fine but I'm busy please call me on this or such time" she didn't. I wrote her almost 2 weeks later and she insists in talking to me so I write her that she can call me or I can explain her my reasons to leave by email, no answer again. This week I wrote her to see how it was going and again no answer.

They claim that refunds take place in 4 to 6 weeks after the claim, it's been now 3 weeks since my refund claim was made so I hope it will be fulfilled soon.

A final comment. I have experience with on line education. I took courses and plan to take more at the Berklee College of Music On Line School, those courses helped me and taught me a lot, so I believe I have enough experience to distinguish if I can get something from an education system or not, sadly MTI's UTP did not fulfill my expectations. I wouldn't recommend it to anyone even as there is some people working there that really seem to want to do a good job, but the concept this company operates by does not make it easy.

I'll keep you informed of the development of my case.

DISCLAIMER: This report is meant only to reflect my personal experience and view. I intend no harm to MTI in anyway whatsoever. It's my sole intention to fulfill my refund requirement in the most smooth and regular way, thus ending my business relationship with MTI as soon as possible, hoping that in the future the company becomes able to improve and overcome their, in my opinion, flaws. Nor should this report been taken as an irrefutable truth without proper self experience and study of the product offered by the company here mentioned.

Joe Tham, Hawaii, USA

Rating:
Date of Post:2015-01-17
Review: As the saying goes, the grass is always greener on the other side. So I bought into all the sale pitch. Now, I have been with MTi for about +8 months. Started with UTP course. Bought additional after attending some webinars. Tradings were rocky. Decided to enrolled in the Mastery course in Jan 2015 to find trading consistency. All in all, I believe knowledge still the SOLUTION to success. Without proper knowledge and attitude, hard to make it to the top on my own. I'm semi-failing because I'm not following the teach properly. So I can't blame others except myself. I appreciate the knowledge FXChief taught me in the Mastery. Now I think is up to me how to properly use the acquired knowledge in these 25 different casinos. Once thing for sure, MTI are 100% here to support me/you. In addition, you can't get anything better than professionals like Chief, Chris, Josh, Jose, Will, Gary and Earl respond to your trades when you asked. So going forward, with the new knowledge, I hope I'll make it to the top following the plan. Cheer! -joe

Janet Black, Salt Lake City, Utah, USA

Rating:
Date of Post:2014-10-22
Review: I bought the traders package a year ago for $4800. The education was good but extremely time consuming. I bought Chis Pulvers Target Trader system in July as supplement to the traders package. I attended the first training session and was totally disappointed! Chris gave the worst presentation for the $2k investment I have ever heard. It was disjointed, bubbling, and disorganized. There were 300 people on the webinar who paid $2k each. That's $600k in revenue for MTI and Chris! The first hour was taken up in making excuses and encouraging participants to contact tech support to download the correct software! It didn't get better from there. There was no apology or offer for refund. Since then they have dramatically altered the program because it was initially unusable. It is still worthless....MTI offers education, which can be learned cheaper at other sites and companies. I still occasionally attend there daily free seminars. They are more interested in selling than educating. They are marketing pimps and be very cautious investing your education dollars with them.
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Greg D, hamilton, Canada

Rating:
Date of Post:2014-09-09
Review: I have attended one of the free webinars with this company. The webinar was about 90 minute and it was a huge waste of time. The whole webinar was a sale pitch how you get to retire early, spend time with your family and their indicator will do the work for you to get rich.

The presenter spent some time showing off their state of art indicators , I think they charge like 2 – 3 grand per indicator.
Their indicator made of:

Some kind of long term moving average (probably set 150 -200), you can get this for FREE anywhere
Parabolic SAR or something similar
Some kind of short term moving average

The rule: When price crosses the long term indicator you enter the market and when price crosses again you exit the market

Now any simple charting software has these indicators so no one should spend 2 grand because you just wasting for your money.

Also while their indicators will work when the price is trending you will accumulate a lot of losses when the price is ranging. Lots of falls signals.

I also went ahead and did some research on this company and a lot of people will confirm what I just said above.
My recommendation is to stay away from these people you are wasting a lot of money. They are very pushy and send you 3-5 e-mails a day, call your phone etc.. There is no track record, they been in trading for 30 years but they don’t even have a live trading account. They cherry pick a month of two when price is trending.

STAY AWAY, sometimes you make money by not wasting money.
 
Rebuttal: Added by Eric Johnson on 2014-09-30 01:08
  Greg,

Thanks so much for reaching out. As a representative of MTI, I’d like the chance to address some of your concerns to see if I can be of any assistance.

Firstly, I think that you might have false information about the Turbo Trader system that you saw demonstrated at the live event. We never state that an indicator can do it all for you. Quite the opposite really; we teach that traders should use indicator sets and systems as a tool to identify trade setups that they would then need to use their trading knowledge to evaluate before trading. We teach the same with our indicators, including the Turbo Trader system. Also, this system is not available for purchase. It is an included perk of The Ultimate Traders Package on Demand™, therefore it has no price tag. We never sell just an indicator set as we do not teach traders to trade just based on technological signals -- we always want our traders to test the signals and look for multiple areas of congruence in the market signals to ensure that they’re making trading decisions based upon time-tested knowledge, not indicators alone. The education package comes with daily workshops teaching integral trading lessons, on-demand training videos of key terminology and the basics of technical analysis, up to 24 hour access to MTI’s Live Analyst on Demand™ broadcast, proprietary trading systems, strategies and more. It’s all about support and having a well-rounded approach to trading the markets on your own, but never alone with MTI’s team supporting you every step of the way. Additionally, because this indicator set is based on a strategy and not as an automatic, “trade-for-you” system, results must be backtested by hand and that’s the track record that you saw during the presentation.

If you’re looking for track records, we do have numerous live trading accounts where we constantly put the trading methods we’ve been developing for the past 20 years to the test. You can see these results through a 3rd-party verification site here: http://www.myfxbook.com/members/pulverca/chris-pulver/884068 & http://www.myfxbook.com/members/autotrade/sto-trade-methodology/724445

The Forex market is vast and we cover a lot in your workshops. If you have any questions, we’d love to get you answers. Call us at 866-787-8558 at any time so we can better assist you.

Paul Hansen, Massachusetts, USA

Rating:
Date of Post:2014-08-27
Review: I am a highly satisfied MTI student and have been for a few years now. I am an example of someone who has taken much longer than average to attain any level of consistent trading success. I still have a ways to go, but I am excited with my recent wins and the knowledge from MTI that put me here. I believe that I have been given a special set of trading keys that other people do not have. Other people have been more aggressively successful than I have been so far, but still, I am thankful for MTI. I come from a rather timid, insecure background that before, contributed to my being a bit jaded and suspicious, and as a result, a much more conservative (read: scared) trader.

The knowledge I've gained with MTI is giving me a better understanding of how the markets move and how to recognize good targets, entries and exits. As a result, I'm much more confident as a trader and even as a person.

I'm still in the process of seeing MTI's teachings born out time and time again. I am gradually moving myself toward more aggressive trading, but again, because of my own tedious, snail's pace method of confidence-building, it has taken longer than I wanted,

BUT I am enjoying the process. I thoroughly enjoy my successes now because I know it wasn't by chance--it was because of knowledge. When there is a loss, I study the details to see what I can learn from it.

It's still part science and part art, but my confidence is soaring now and I feel I'm a much better person for being involved with MTI.

I must tell you that the Chief's mentoring sessions have been a wonderfully helpful and enlightening tool to lead me out of the kind of negative, defensive, and antagonistic life I've seen represented here in some of the anti-MTI posts.

I urge everyone to give MTI a truly fair shake. Organizations are made up of people. People are not perfect. Not all people think the same way, express themselves the same way, or understand things the same way. When given the chance, I've always found MTI to be an honest, reputable bunch of people who want to see students succeed.

A lot of money can be made in the forex market, but it takes humility, patience, a willingness to learn, and a bunch of hard work. It's not for everyone. You can't read a book on brain surgery and think you're going to walk into a hospital and perform one.

When MTI talks about specific large opportunities, I've always been able to see they were telling the truth. The opportunities are there. They just want to help students get in on whatever piece of those opportunities they are able to get, based on their grasp of the strategies MTI teaches. I've never heard MTI promise that I was going to capture ALL the pips of a recognized opportunity.

If a fictitious farmer John shares a few things about fishing--where the fish tend to be, the best water temperature, the best time of day, and when the Mayflies hatch, people who follow his tips will have a much higher percentage chance of catching dinner.

Many times, suspicion and previously bad experiences can be like a sound barrier that prevents people from hearing properly. Before you come down so hard on MTI, it might be good to take a good long look at your own attitude, and see if you've allowed your suspicion to project itself onto other people unfairly.

2012-06-20 5Star I am currently a student with Market Traders Institute and am naturally interested in the trustworthiness of their dealings. First, I am very happy with the quality of my education with them. There is so much information and practice required that I'm still not quite done with their Ultimate Traders Package. I've learned a great deal about the many ways the fx market can behave and have received many, many practical tips about avoiding pitfalls and positioning oneself for profit. I came to this site indirectly, which in my case, began with research on reliable fx brokers. I was stunned to see all the bad experiences people have had with brokers--caused by everything from sloppiness, to lack of integrity, to out and out crime. Once I'm ready to begin trading, I just want an honest and fair broker.

I urge any of you who have been overly impressed with the negative posts referring to MTI to page down and read their rebuttal. One poster claimed that with careful reading, I'd see that MTI had been warned by the NFA. Well, I read the NFA judgment very carefully and I see simply that if MTI was to mention or in any way direct customers to this certain fx broker, it would have had to have been registered as in Introducing Broker (which it isn't...it's an educational company). After having several months of dealings with this company and some members of the Martinez family, I've been convinced they are an honorable family...not the type of people to involve themselves in a willful scam. I didn't know anything about an fx broker business that Jacob may have been involved with. I can only imagine the very worst case might have been an honest mistake and oversight--not stopping to think that a conflict of interest could be a big problem. Even THIS speculation is completely uninformed and probably pretty useless. All I DO know is that all my dealings with Market Traders Institute have proven to far exceed my expectations. All the instructors have proven to my satisfaction that they are making their very best effort to see that I am getting the education I need. They are all quite knowledgeable, helpful, patient, and gracious. I am not displeased.

Adriano, Milano, Italy

Rating:
Date of Post:2014-06-14
Review: I first came across MTI through a web commercial and decided to join one of their webinars.Boy, what a pleasant surprise that was ... i felt like "a fat kid in a candy store". Although it seemed like just another BS sales pitch, i actually tried some of their ideas and have found out that it does make sense and therefore decided to join them as a student ... it wasn't cheap to get it must admit that but nevertheless the level of support and the kindness I received from them not to mention that i actually made some decent pips trading their fx turbo strategy ... to be honest i didn't quadruple my account in 1 month that is just silly but i was able to steadily grow my equity balance and as my learning curve was growing i am now able to have more confidence in placing a trade. Afterall, that is the most important thing in trading, right ?
You receive from them, exactly what it would be expected from a top notch education service provider and the real interest of their support team and of your conselour in the real problems you are facing in your life just makes the experience more personal and gives it a bit of a human touch !

Wayne Boelsma, Las Vegas, USA

Rating:
Date of Post:2014-05-19
Review: Unfortunately, I lost pips, but hopefully gained knowledge. I am going to review the recordings and study the manual.
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