Options University has a Ferrari in their garage with the Forex Mastery system. They have two problems; they don’t have a key for it, and when they tried to hotwire it, they realized the engine is missing. Come to think of it, they actually have three problems. They don’t have a driver with a valid license either.
My boyfriend and I purchased Forex Mastery in November 2009. We have purchased numerous high priced systems before, and none of them had delivered. I was so excited about this one because within the first couple of weeks it became evident that this system worked. We did see the proof; it was the developer’s, Gary Albrecht’s live trading account. In two years he turned $25,000 into almost $300,000.
At this point, it is worth mentioning that he did that without Forex Joe Atkins’ famous Bias and Key levels or a market scanner.
Two weeks ago my boyfriend asked Options University to refund the cost of the course, and cancel his membership. The only good thing we can say about OU, is that they refunded the money in a timely fashion, but the good things stop right there.
When we decided to sign up for the course, we were hit right away with a myriad of additional products. The system costs $2,000, that includes the course materials, indicators and the market scanner. They neglected to mention in their webinars that for the $2,000 the scanner will only work on 4 Forex pairs, and if you want the 10 pairs that they show, it will cost an additional $1,000. They will also want to sell you a Fibonacci trading program for about $500, a subscription to their Forex Trader website for $297/month and to Forex Mastery for $197/month and some other things that I can‘t even remember. If you want to learn the Mastery system you’ll need to pay the $197 monthly fee. Some aspects of the indicators that are crucial to be able to trade this system profitably are not even mentioned in the course material. To learn that, you must pay your monthly fee. That had already bothered me because I felt the $2,000 should have included everything I needed to learn this method. Then I thought of what Forex Joe Atkins said at one of the webinars that within the first month using their live trading room, we will make back the cost of the program. That did not happen. Instead, in that time they managed to lose the only person who developed and knew the system, Gary Albrecht. I’m not sure what happened; I’ve heard different stories that he was forced out of OU by office politics and didn’t get paid by the company. As I said, I don’t know and I don’t think it’s anybody’s business what happened between them. What matters to me is the fact that after Gary’s departure, the whole Forex Mastery course has collapsed. Today a guy who was hired to manage the software development at OU is teaching in the “Live Trading Lab”. He himself has admitted that he had only started trading Forex in August 2009. This person is completely clueless. While we were in the trading room, he had one 30 pip win, and was stopped out on every other trade. He actually posted his own trading account; it is all pink and losses.
Over 70% of the people that bought the program were experienced traders, trading live accounts for a year or longer. When these people started to complain about the level of education, all hell broke loose. People who were vocal about this situation started to get refunds from OU without asking for it, while others were threatened by Brett Fogle, the president of OU himself that he would turn off their software. Forex Joe said after calling these people PARASITES, that anybody who doesn’t like what’s going on, can get their money back and get out. I have never seen this level of unprofessional treatment of clients in my life. It is clear that Options University does not care about its customers, they care only about the money that they can pull out of their pockets. They make promises after promises, and none of them are kept. They promised extensions of the trial period of the software if people asked for it, and those who did got a refund, not an extension.
Wow, this has gone on longer then I expected. But let me say a few more things briefly.
The indicators they are using are common indicators available in the public domain. Bias and Key levels are absolutely unimportant, you can use the weekly and monthly pivots of your choosing instead. What you can’t get from the internet is the education that would show you how to use them correctly, but you can’t get it from OU either, even if you pay for it.
My recommendation is to stay away from Options University. Try it if you have the money, you can always get a refund from them, but nothing else!