Collective2.com Review

2.095 • 21 REVIEWS
Also Trade.Collective2.com
Updated: Dec 5, 2023
Visit site

Details

Established: 2001
Contact: help@collective2.com, (914) 610-3979
2.095 • 21 REVIEWS

Recent User Reviews of Collective2.com

A
algoinvest6
New York, USA,
Dec 5, 2020,
Registered user

Horrible Childlike Scam with Fake Results

Service use: Live Length of use: 3-6 Months
This is a horrible, unethical, rude scam of a company. They advertise yearly gains that are not calculated correctly on purpose. As I am a professional trader, I spent months calculating results for each major strategy on the site. Extremely few were profitable. Of those that were profitable in the SIM account, I turned onto my live account. However, this is where we ran into real issues. Every time I subscribed the strategy, the "Trade Leader" posted that "a one time error" occurred. They would find different phrases for this, for example, the next time it was a "black swan event." Collective2 DESTROYED my account faster than any other form of trading, including Forex, automated strategies, hedge fund, stocks, even Robinhood. The Trader Leaders are unhelpful, and never offer refunds. One admitted to me that his strategy "only works in demo accounts." It called for such a high level of margin, that one could not have the high minimum account balance advertised (about $50,000-80,000). Instead, you needed about a half a million for any of the trades to work, as almost hit margin calls. Their programmed "Stop Loss" feature also does not work half the time, leading to maximum losses and zero gains. C2's rude customer service admitted to this fault as well. On top of that, they issued a new commercial featuring a woman who looks just like me as an "idiot trader," similar to a dog trading. I am an employed professional trader working for an international firm and this company is the childlike one with no risk management.
H
hermitz
Jakarta, Indonesia,
Feb 12, 2020,
Registered user

Questionable performance & no support

Service use: Demo Length of use: 0-3 Months
Have an account with Collective2 and they allow you for a demo run.

Strange thing is, after you add some providers to manage your play money they immediately add some profit, which in my case like +12%, to your account a few seconds later. This looks like a scam or an intentional/untintentioanal glitch so I contacted them for details on the list of trades that generated this immediate profit since it was outside trading hours. I received no reply so I contacted them again. Still no reply and instead from then on I received emails almost daily telling how profitable their profiders are etc. etc.

Don't invest with companies that do not answer your concerns and/or provide minimal supports. Collective2 is one of them.
1 trader has found this review helpful
J
Jack
Schultz, USA,
Feb 1, 2019,
Guest

Trader

This company is a complete scam. They are only looking for people to post strategies and overall have nearly zero people wanting to follow others. Its a great strategy for this company but not for you. This companies system and user base is simply too small. Plus you need to spend a lot of money with this company before you will receive any type of activity, if any, ever! Good luck if you choose this company you're only paying for an over-hyped trade journal. Nothing more.
3 traders have found this review helpful
J
Reply by collective2 submitted May 14, 2019:
Hi, Trader - I'm sorry you don't like my company Collective2, but I do want to stress that we're not a "scam." It sounds like your main concern is that new strategy developers don't get immediate investors/subscribers. While that is not always the case, there is a lot of truth to your point. But there is a good reason for this.

When Collective2 first started, many years ago, we "promoted" any strategy that seemed to be doing well, even if it was very new. The problem was, many of these young "high-flying" strategies were just lucky. They soon burned out, losing a lot of money for investors/subscribers.

So now we are more cautious. We tend not to promote strategies to our investor customers until the strategies are at least 6 months old, sometimes longer. So you really need to stick with it, and have a viable track record for at least 6-12 months to get traction on the Collective2 platform.

On a more philosophical level, whenever there is a conflict between investors' interests and strategy developers' interests, we always do what's best for investors, even if that doesn't help our bottom line immediately. Sorry.
M
Matt
Santa Barbara, USA,
Feb 3, 2017,
Guest

This site is only looking out for system developers not for subscribers

This company is totally geared towards the strategy providers and not towards the subscribers - for example

1) Even when you are a subscriber, you can't write a review of the strategy provider after 30 days. As you know there are a lot of strategies that do well in the beginning only falter later on. But as a subscriber - you can't even write a review about that.

Also isn't 30 days far too short of a period to evaluate a strategy ??

2) It does NOT show the open profit/loss of a strategy. So what that means is that there could be a system that has a open loss of $200,000 but the strategy developer keeps those loosing positions open and keeps closing only those positions that are in profit. That means his % of winning trades keep going up and no one can see all the loosing positions that he still has

3) It shows when people are subscribing to a strategy but not when people are leaving the strategies. So even if subscribers are laving a strategy in hoards, new users can't see that. So even a strategy thats doing pretty bad ( but is not closing the loosing positions - read #2 ), keeps getting new subscribers.
R
Rob
London, United Kingdom,
Feb 12, 2015,
Guest

Having used collective2 previously with no great signal system that made the amount of profit I am looking for. I took note of a forex signal provider named FOREXBILLIONS1 which looked promising. I contacted FOREXBILLIONS1 and they had told me they have been making decent amount of profit for quite some time and due to big demand, have listed their signal service on collective2 website.

To my astonishment, my starting capital of $11,000 is now $23,000. I started early after a few weeks of noticing and receiving confirmation that all was true.

I certainly hope that by end of 2015, I am on $50,000. From my calculations, if I leave my investment running, in 5 years I should hit $1,000,000. I hope I will become a millionaire.

The fees are not bad as it started out with $291 per month subscription fee and now increased to $329. I just normally later on take it from my trading account.
C
Chris V
, Canada,
May 19, 2014,
Guest

I have been a member of Collective2 since 2008 and have followed the site and Matthew closely. Long story short, many of the negative/neutral reviews above have a lot of truth to them. But they are also very old and out of date to what Collective2.com is now.

I now use the Collective2 private label for my automated trading systems which gives me a more professional look and feel, and allows me to just offer my systems, and for me to manage the billing side of things so I have to pay the high commissions Collective2.com charges system vendors.

Here is my details Collective2 Review
B
Billy
Tennessee, USA,
Jul 27, 2013,
Guest

I listed 6 different systems with C2 since late 2005 and the platform does not always enter or exit a trade in a timely manner. And sometimes the order seems to get lost, causing a replacement order to be sent. I won't be listing again; the best way to market a system would seem to be with a broker and let them run it for you, build a subscriber base, collect fees for you. C2 might be viewed by some as a cumbersome, glitch-prone 'middleman' that adds an unnecessary amount of complexity to an already risky and trouble-prone business.
D
David Martin
Atlanta, Ga, USA,
Jun 24, 2012,
Guest

I was a systems developer on Collective2 for 2 years. I got burned many times due to their data problems, signals not filling, etc. etc. etc. Trading, under the best circumstances, is a difficult proposition. But when you add in the layers of complexity and problems of a 'home-grown' site like C2, it will be extremely difficult to consistently profit as a subscriber or developer.
G
Georgina
Glen Allen, USA,
Feb 28, 2012,
Guest

I read somewhere that the signals C2 offers were profitable, so gullible me signed up to test some on their "demo"...of course at some point (which was couple of days only!!!) they started charging my credit card as apparently the trial period got over. Anyhow again, I was like what the heck let me try them, they cant be thaaat bad. But trust you me, they were - I lost all my account. Seriously, the one star I'm giving is totally undeserved.
1 trader has found this review helpful
M
Mark
England,
Aug 16, 2011,
Guest

I did not even get as far as trying them at all. I could see by the sites confusing layout it wasn't worth the extra click of my mouse to stay looking any longer. I received a personel email from Matt who wanted to know why I hadn't taken it any further and to be honest with him, I didn't want to be rude but just falling short of saying it was all complete BU...s...t I told him what I thought, anyone and everyone should not even bother with this useless company. Rant over...