USI-Tech

Benjaminjsy

Recruit
Messages
2
Hi guys

I doubt anyone will have heard of this company as they are still in the pre-launch stage but just on the off-chance anyone has heard whispers, I thought I'd check.

The name of the company is USI-Tech and the reason I am extraordinarily dubious about its legitimacy is the fact that it is being heavily promoted by an individual who has been largely involved in a soon-to-be defunct ponzi scheme.

From what I can gather, it seems to be offering 'revolutionary' trading software, presented in a way that suggests to me it can (allegedly) offer a sort of "work from home" level of consistent income (very original, I know).

I have attached a screenshot of the steps required to get started, one of which is to register with the virtual wallet "2pay4you".

The website of the virtual wallet, a screenshot of which is also attached, claims that it is "the leader in online payment solutions" - quite a claim, considering they were incorporated in the UK less than 6 months ago (Companies House screenshot attached); PayPal must be quaking in their boots!

Like I said, I am very dubious about this company and personally wouldn't touch it with a barge pole, even if I did know anything about FX but I am interested to get other people's take on it!

Thanks a lot.

Ben
 

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Pharaoh

Colonel
Messages
20,041
As soon as they announce what sort of returns are to be expected, it should be fairly simple to see if this is fully in Ponzi territory.
 

Benjaminjsy

Recruit
Messages
2
True. One promotion for the website I've seen posted on Facebook begins as follows:-

"What would you do if you made 5k per day with only a small €600.00 one time investment?"

'5k per day' is a realistic expectation for the average day trader right.....?
 

Pharaoh

Colonel
Messages
20,041
Yeah, sure. I've seen hundreds of small investments yield 5k per day - at least until people tried to withdraw their alleged profits.
 

mschwartz

Recruit
Messages
12
Hello Traders!

I noticed your discussion on USI-TECH and wanted to share what I know of them, as I've sat in on calls with the company execs as they described how their program works.

Not sure where you saw 5K / day, but that is definitely not what USI TECH generates, so I'd be wary of anyone making that claim.

USI TECH is an MT4 EA (Expert Advisor) provider that focuses on correlation trading between multiple "groups" of currency pairs. In essence, they open multiple positions on a number of currency pairs in a specific group at the beginning of a trend and capture the difference between the "tracks" of each trend. I can't say that I understand the nuances of what they're doing, but suffice it to say, they aim for very small gains on trades from the difference between the winning and losing trades.

No performance guarantees are declared (which of course is as it should be) but they do provide MT4 Account Histories which appear to backup their methodology.

There is an affiliate/network marketing component on top of the product that appeals to many, but is equally a turn-off to some. Having been in IMarketsLive (IML), I have observed how the MLM side can become a focus for many and put the actual product/service being offered at risk.

I do, however, understand why they have chosen this route, and it stems from their business model. As mentioned earlier, they do charge 600 Euro for a lifetime software license that includes future updates, so they differ from the classic MLM where a monthly membership fee is required to maintain service and provide ongoing income to the company and their affiliates.

Instead, USI TECH chooses to partner with specific brokerages who will allow them to set a 10 pip spread on traded pairs for their referred customers -- presently, Royal Financial Trading in Australia is their broker of choice, however, they do not serve customers residing in the USA or Japan. A new brokerage serving US customers is being finalized, so presently, the USA roll-out is in a bit of a holding pattern.

Now most of us would normally never trade with such a spread, however, there is a silver lining to this situation, as USI TECH must ensure profitability of their EA in order to keep the trades flowing and receive their lucrative spread commission. It would not serve their best interest to sell a one-off product that doesn't work as advertised for a fast gain, as they would soon find themselves out of business.

The net result to the consumer is apparently an EA that works by recovering the spread offset and generating enough profit to keep customers satisfied enough to continue using the automation.

So if you don't begrudge USI TECH for their business plan of capitalizing on spread commissions while still offering a functional product, it sounds like a very valid means of earning a respectable return on a trading account that requires very little effort on the part of the consumer.

Further, USI TECH does indeed share a portion of their spread commission (ranging from 25% - 50%) with customers who have "qualified" by referring 3 or more customers who purchase a software license and use the EA.

I have been following USI TECH for awhile now and have seen good results reported by customers outside the USA (typically UK and other EU countries), and sincerely hope that the brokerage serving US clients will function equally as well.

If you'd like more information, we've put together a FB Page and Group to track REAL money accounts, videos, events, and other details that should help you decide if USI TECH is a good fit for you.

As you can see, I don't sugar-coat or BS ... so you'll always get my honest reporting of the facts to the best of my ability.

If you decide to join USI TECH, I certainly would appreciate it if you'd consider signing-up (registering) with me. :)

USI TECH Info FB Page - facebook.com/usitechinfo
USI TECH Info FB Group - facebook.com/groups/usitechinfo
USI TECH Info Register - usitech.info ... to be part of my USI TECH group! ;)

Best Regards,

Marc Schwartz
 

josephwatch

Recruit
Messages
10
Hi Guys,

I can tell you that USI-Tech is not a scam!!! I have sign-up last month and the software is doing great!!!

I have invested as follows:

Lifetime Robot License : $600
VPS 1 year : $400
Deposit in the account : $2000

Total $3000

I have hereby attached the result since I opened the account.

How it works:

1. You need to buy the license
2. Open the account with Royal Financial Trading (it works only with this broker because they have invested in it)
3. Buy 1 year subscription with any VPS company
4. Start Trading with the Robot
5. Recruiting people under you if you want to make addition money by getting a portion of the broker commission every time a transaction is closed.

I will explain.... When you promote USI-Tech you will have your own homepage via their subdomain, in my case is " forexbond.usi-tech.info/ " (not hyperlink because this is not an ad). So every time someone signup on your page, that person will be under you. Obviously, he/she needs to buy the license and go trough the same process.Then when the game is on.... you get 25% of the cost of the license that has been purchased by your referrals and 25% of the commission that the broker charges on any transaction made by all the accounts created again by your referrals!!!!

Basically, they have combined the Forex EA System with the MLM System to attract more people and get more money in the meantime. I think it is very cool... no bull**** at all !!!

I have spent so much money on robots because I know that big firms are using it (via internal source). And if you think deeply the broker has agreed to do that because it is more business for them by sharing the commission!

There are people who have invested $5K, $20K and believe me $100K !!!! I have been with Forex Peace Army since 2010 and I hate scams and scammers!

This is my personal opinion up to now, and if I am wrong only the time will prove it!
 

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Pharaoh

Colonel
Messages
20,041
From the 1st week MT4 statement above:

Closed trade P/L: 46.09. Floating P/L: -341.38

If those are from this program, it strongly suggests "hold and pray" trading. The lack of fixed SL also supports this theory. If so, this is a one-way ticket to a margin call at some point.

10 pip spread and you can earn back some of it if you refer more people. Refer enough people and your cut of their spreads could help deal with that big floating loss. In the meantime, the company keeps the rest of the inflated spread and rakes that in whether your trades win or lose.
 

mschwartz

Recruit
Messages
12
Very valid points Pharaoh. I've heard the correlation trading explanation a couple of times, but complete understanding still eludes me. I'm hoping its not "snake oil" but in fact a viable methodology. They mention that they were not adversely affected by Brexit in a video or two ... Can you go over the account history and divine exactly what they're doing for correlation? I'd sure like an explanation of it that I can actually understand. All I have to go on is their Trading Histories, which appear to corroborate their approach to trading. About 1/2 the trades win, and 1/2 lose, but they capture the difference between the trends among different pairs in a group. Draw-down seems to hover between 15%-25%. I remain hopeful -- the brokerage serving US clients has just been finalized, so it will be interesting to see how it all pans out. Seems folks outside the USA have a good head start and track record with Royal Financial. Anyway, your thoughts and comments are very much appreciated! (y)
 

josephwatch

Recruit
Messages
10
Here is the update account closing trades on Friday.

Please Pharaoh let me understand what you think. Thanks
 

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Pharaoh

Colonel
Messages
20,041
The numbers are better than last week, but the floating loss is still larger than the total profit. Positions are not given hard SL and are held over weekends. Any surprises in the US, Canadian, Australian, or European economy could do very bad things.

Once upon a time, there was a good correlation between the Euro and CHF. so one could await deviations and play the hold and pray game between the EURUSD and USDCHF. Then one day he deviation grew much larger than expected by the correlation traders. They did not live happily ever after.
 
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