NetPicks review - Pros, Cons and Traders Ratings.
1 star review by Etrade234, United Kingdom
I ... purchased a trade alert service after watching a webinar that was HEAVILY marketed. During the webinar Mark Soberman and Mike Rykse use trading charts to analyse trade set ups... It turns out that they offer only a text based alert service... and I am unable to use it because I trade using charts... Mike Rkyse is declining to refund me
What is NetPicks?
NetPicks was funded by Mark Soberman in 1996 as a company dedicated to providing education, trading systems, and signals for Forex, Futures, Stocks, and Options. Company is operating from Lakewyay, Texas, USA. Customer support is offered over the phone and email.
NetPicks claims that each coach is an actual trader, taking trades according to NepPicks systems and indicators that they teach.
Currently NetPicks members area includes: High Velocity Wave Trader - the system for futures day trading; various Options Superstars including Nasdaq, ETF and simplified one; Dynamic Swing Trader, Netpicks inner circle and more. Website also provides plentiful free education materials.
Please read NetPicks Reviews below and share your experience with Mark Soberman and his team.
To Good To Be True
So, I emailed Eric and asked for a prorated satisfaction guarantee. I don't see me spending thousands of dollars to discover their service is bad to qualify for a refund. Of course, in the back of my head, their service just seemed to be too good to be true. The way they put it, it's a money machine that can be scaled up, so I am thinking move-over Bill Gates in the billionaire club. Well, Eric then started to weasel out of selling me their service. He claimed the service would not work for me because I would need level 3 options capability. Since I have traded options and am a high wealth client of my brokerage firm, I don't think whatever level three would be a problem. This was never discussed in their advertisement. Eventually, Eric refused to change the guarantee. It falls into the category “Too Good To Be True” or better known as a scam.
Overnight options are glorified bets on the market; cust service very poor
I contacted Netpicks today to cancel my subscription to their Overnight Options program. I asked for a refund or to cancel my subscription (which I bought in September) because I don’t want to forget about it and pay for another year. I figured it was much too late to receive a refund, but it doesn’t hurt to ask.
I sent them a screenshot of my trades following their program. Now, I didn’t follow their rec’s exactly because I’m a busy person and not always near my email for an alert half an hour before the market closes, but the trades I did do before I got disgusted with the returns ended up netting me negative $2600 and a lot more prep work for my taxes. Also, I soon realized that I have better ways to invest then to bet on whether the market would be up or down the next morning in the middle of coronavirus and Ukraine wars.
Still: the response to my last email was this: “Those overnight bets would have more than doubled your investment since you joined. With an 80% win rate over 250 trades there is more than luck involved. You can’t maintain an 80% win rate over 250 trades based on luck. The bottom line is the numbers back up everything that we do. You not trusting it has cost you thousands of dollars of profit. So please note the system did exactly what we need it to do. You not making money with it had nothing to do with the system not working. It had everything to do with you deciding not to use it properly. That is a choice that you have to make on your end. Good luck with your trading. We hope you find what you are looking for.”
Will not be purchasing from them again.
Money-losing advisory service
Beware, Poor overall performance.
Terrible customer relations and follow up to identified problems
Netpicks is unethical and definitely a scam
My goal is save one more person from falling victim of NetPicks as I have. I made the mistake of not checking reviews before purchasing from these guys.
I sadly on 24th August 2020 purchased a trade alert service after watching a webinar that was HEAVILY marketed. During the webinar Mark Soberman and Mike Rykse use trading charts to analyse trade set ups.
After purchase $997, It turns out that they offer only a text based alert service where a certain bob sends out lengthy text messages .
I’ve sent several emails to Mike Rkyse requesting a refund as I am a visual trader and need charts to analyse trades before I can execute so the text only service is not a good fit for me since I am visual.
Mike Rkyse finally replies me that refunds are only performance based.
If this is not unethical business practice what would you say it is?
Seeing the negative one star reviews dating back to June 2007 is worrying. Mark Soberman and his team have obviously been at this game for a veeeeeerrrrryyyy long time and become very comfortable in it.
I have not used their service and I am unable to use it because I trade using charts and unable to. use text only alerts. Mike Rkyse is declining to refund me
ANYONE PLANNING TO JOIN NETPICKS READ THE REVIEWS HERE SPANNING OVER 13 Years. RED FLAG. TRADE WITH NETPICKS AT YOU OWN PERIL
Poor Customer Experience
Also, the tracking sheet for Closed Trades does not include all the trades. I couldn't get straight response to the list of trades that are not included.
Really disappointed with the whole experience.
One advise: if you use their service, keep a copy of every Trade Alert email and download every Tracking spreadsheet, every day! It will matter if you decide to cancel and ask for refund based on the low profitability.