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Knowledge To Action/Learn To Trade - ASIC MISCONDUCT ALERT

Discussion in 'Scam Alerts' started by jaskew, May 8, 2016.

  1. jaskew

    jaskew Recruit

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    Dear K2A, Learn To Trade existing and former clients. My name is Jennifer Askew. I am a former K2A client who is currently representing all clients of Greg Secker's former K2A and existing Learn To Trade business, who have been knowingly misrepresented and defrauded of money paid to both businesses. Here's what we know so far :

    1. Mr Greg Secker represents himself as someone that has been a "master trader" in forex markets. This is not the case. Upon some due diligence we have independently conducted, he has never worked on a bank dealing floor as a trader, has never worked at a fund. In fact he has no track record in the industry, let alone a trading track record

    2. None of the coaches at the former knowledge to Action (K2A) or current Learn to Trade (LTT) businesses have been or are professional traders. None of them. In fact almost every so called "trading coach" has been a client. That's right, people that have zero experience in trading, learning from other people selling courses with zero experience in trading are now coaching LTT clients and passed off as "professional traders"! Beata Kuchcinska in the LTT Sydney office is a prime example of an ex client with zero experience now being passed off as a "Professional Trader". A case of "the blind leading the blind"

    3. We have independently, through ex investment banking and hedge fund traders, verified all of the systems sold to K2A and LTT clients. None of them work and not have they ever worked. Defective product produced by rank amateurs lying about their trading credentials. Income Generator, Sniper and the rest of these systems have been developed by people with zero industry experience. So you get what you pay for.

    4. K2A and LTT business models are based on the old tried and tested model used by many scams that promise huge wealth, with very little effort and are pumped up by the usual fancy terms like " Millionaire Mindset", "VIP Trader Day", "Bootcamp" "Unlimited Wealth","Master Trader" and the like. Cheap, tacky and just another get rich quick scam. The constant mention of the term "pips" is a dead giveaway and to anyone that actually knows anything about trading it's obvious read the following http://thelazytrader.com/articles/learn-to-trade/forex-scams-101-five-ways-how-to-spot-a-forex-scam/

    5. The entire staffing at LTT are all about sales and zero about trading. The process works like this: money scanned from investors is ploughed back into a broad-based advertising campaign across print, radio and TV. Pictures of fast boats, people lying on tropical islands with nothing better to do than count their vast banknote collection. It starts off with a "free seminar". What goes on here is beyond repulsive. Lie after lie after lie. How you will make vast fortunes and how you will be able to retire off their amazing trading systems. It's absolutely disgusting. Then you are given the hard sell by the LTT sales representatives and for only $5,000 you can make it big.

    So you turn up to this amazing course. After literally 2 hours or so it's almost time for lunch. But just prior to that, they will give you a little exercise and it's about you imagining if you could make $30.000 a month by making thousands of 'pips'. Laughable stuff. But this is where they use classic selling techniques and while you are filling in what your dreams in life are, Saira Khalid tells you to 'breathe deeply' and imagine yourself immersed in riches. Yes, she's worked for the biggest conman of all- Tony Robbins. What this has to do with trading is beyond me.

    Then all clients are taken into the "Trading Floor of Excellence (I kid you not. It's an empty room with a couple of PC's and desks. Goldman Sachs, careful, they are about to outgrow you!).

    And who awaits you on this "prestigious trading floor of excellence", none other than the esteemed CEO of LTT Australia, Mr James Matthews, a former school friend of Secker and a failed property developer in the UK who ran away to Australia to escape authorities there.

    No here's where it gets interesting. Matthews has bad news for all clients who were told they would make vast fortunes by attending the $5.000 course- bad luck. You see, you can only make around "40 pips a week" without paying more. If you really want to succeed, you need to upgrade and pay another $20k to make "400 pips a week". Amazing stuff. What's even mir amazing is that Matthews, word for word, rehearses the exact same sleep every time just prior to delivery to unsuspecting clients. We have the actual recording from an ex staff member of K2A

    6. K2A/LTT offer clients "live fully funded" trading accounts. This is a blatant lie. Now this is where ASIC are about to close these people
    down. None of the accounts are funded with actual cash. How do we know that. Email trails between ex K2A staff and their previous broker, Axitrader (Phil Horner, now working at Pepperstone Brokers) are proof of the exact setup. K2A have been caught with irrefutable evidence against them. Their entire model is based on clients never making money and therefore they do not have to pay out profits to clients- there are no profits. David Long, the K2A/LTT so called "Risk Manager" is a huge proponent of this lie and he is implicated in to scandal. H has never traded and has only ever been a broker at the failed MGlobal broking business. Now that Secker is getting all clients to trade through his own Cyprus based Capital Index broking firm, God only knows how much more of a scam this has become.

    7. The so called Awards that K2A/LTT and another gutter grade firm, LTG Goldrock display, are all fake. Our own investigations prove this to be the case

    8. ASIC, via Mr Tim Hommel and subsequently the ASIC Misconduct Department, are now taking action to finally eradicate this sort of conduct by people like Secker who also openly are proud of the fact that they maintain a close association with the likes of Jordan Belfort, a convicted criminal and fraudster.
     
  2. Pharaoh

    Pharaoh Colonel

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    Could you provide links to the websites involved in this issue?
     
  3. turtlemishy

    turtlemishy Recruit

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    i wonder if theres update on this
     
  4. nivrage

    nivrage Recruit

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    Hi. Just saw this forum and I just joined in. Is there any update on this?

    learntotrade.com.ph/millionairemakeover
     
    #4 nivrage, Sep 27, 2016
    Lasted edited by : Sep 27, 2016
  5. turtlemishy

    turtlemishy Recruit

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    did you enrolled? they granted my request of cancellation.. so I'm not updated on how their courses went
     
  6. ferdiedimakil

    ferdiedimakil Recruit

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    @turtlemishy Panu ka nagcancell ng enrolment mo? sino ung kinontak or whcih office ka nagpunta para magcancel? naibalik ba ung full payment mo?
     
  7. turtlemishy

    turtlemishy Recruit

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    they won't easily give in to your refund request, that's what I can say...pahirapan po.. depend on your cancellation reason they will convince you to not to cancel at tutulungan ka nila blah blah blah. Kausap ko lang ung client service staff then nakausap ko din ung associate..
    Nung dumating bill ko sa card, na overbilled ako due to forex conversion dahil sa AUD nila ako charge at inde peso, they said they will only refund the excess but then I really insisted to get full refund.. but they don't reply about it. I almost gave up and thinking of giving my slot to someone else...Then after I gave my bank account for refund of overbilled they (suprisingly!) responded saying that my enrollment is officially cancelled. They don't have office in PH as far as I know. Yes they returned the full amount
     
    4evermaat likes this.
  8. ferdiedimakil

    ferdiedimakil Recruit

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    panu mo exactly sila nacontact kung wala sila office? can you give the email add? or contact number? and kelan to nangyare? kame kasi recent lang last september lang. Thanks in advance. Email me at ferdiedimakiling@gmail.com please.
     
  9. scotinoz2000

    scotinoz2000 Recruit

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    Jennifer,

    I signed up with LTT in December 2015 and have had similar dismal trading results using their 'Trader's Alerts' and 'Trading Strategies'. I would be interested to know what progress ASIC has made to date and also any progress regarding your progress in representing K2A/LTT clients.

    Ian
     
  10. Acejoy17

    Acejoy17 Recruit

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    Enrolled with their LTT first course... paid around Php 81,500 for the 3-day course in a posh hotel with buffet lunch and snacks. What I can say is if I know what I know now I would have never enrolled. They are very good in sales and they make you decide right now. No time to think. To those who are planning to take the course here are the pros and cons for me.

    PROS
    1. Good food
    2. Learned 5 strategies
    3. They did mention a lil about psychology of the trade

    CONS
    1. They don't teach you how to manual trade. They make you depend in their smart charts to trade which is a subscription base service of $89 monthly
    2 Smartcharts is not that great. yes its convenient but their trade alerts are not that good. You will be losing money if you follow their trades
    3. Hard selling in their UW. Like I said very good in sales and marketing
    4. They don't tell you from the start that you need to spend more money. Like in their free seminar they said 80K enrolment fee but they did not mention that you need to invest at least $1,500 to capital index (same owner of LTT) and subscribe to smartcharts $89/month. Then during the 3-day seminar they tell you (hard sell you) to join UW (unlimited wealth) program for 350K. Outrageous money.

    All in all it was a nice boot start for my trading journey (nice but very expensive) but I will not continue my journey with them in learning more. Too expensive and not much results for me.
     

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