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Review 1/27/2011
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I am an actual client of this company so I hope this gets posted. I've been trading with several of their systems and was introduced to GTA by a trader friend. After talking with them and doing my own investigating I decided to joined and I've won some and lost some, but I've never had a margin call or a losing year, on any of my systems. Some programs have performed better than others, but my overall experience has been a good one. They never once promised me that I would get rich, but they have done everything they said they would as far as I'm concerned, and I've been around the block a few times.
As a side note, the friend that recommended them to me confessed that what he paid and what I paid were two different deals. He had a money back guarantee, I did not. He received a 50% refund on the cost of his trading system because the system had a losing month after he signed up, I did not! (He's still trading with them though) but I would do it all over again, guarantee or not. I am anxiously awaiting for the new Gold System, which I've been told is currently undergoing the testing process.
Now....another issue of concern for me. The BBB and TrustLink should be more diligent about allowing “non-customers” to post their opinions here. This is a place for people who have actually used the goods and services to write their review of the experiences, not a “blog” for people to give their unqualified opinions. It clearly states on the BBB and TrustLink; “Here is my experience with this Company.”
On that note, I feel compelled to address the post by “CTHINKS” and his “Red Flags” about this company and again, this is based on my REAL experience and interaction with this company.
#1 "for Global Trading Academy, calling people on the no-call list."
Your name is probably on hundreds of lists and occasionally you will receive calls. Just ask to be removed from their list. If the worst thing that happens to you is getting a phone call, you're doing OK!
#2 "for having multiple addresses at PO Box companies."
This is a company that conducts business over the phone and Internet. They obviously don't have a retail location that you can walk into, and the address might be a mail drop. SO? That doesn't lessen the integrity of the company or the services it provides.
#3 "lack of names of people, addresses, and contacts on the site."
(See above response) and..they do have contact info where it says “Contact Us” and once you are a client you have access to trader support 24/7.
#4 "would not answer specific questions - like who are the owner(s)?"
GTA is a private corporation and therefore has several principals, most of whom I have had contact with, and one of the principals is actually listed on the BBB.
#5 "password protected main website page, this makes it hard for disgruntle clients to complain."
First off, you are assuming that there are disgruntled clients in the first place, second THIS is where disgruntled CLIENTS would go to complain, not their own website. The website is protected because there are other companies that offer similar programs ( I have been called by several) that have stolen the GTA concept over the years. (presentation is almost the same) but the information is proprietary.
#6 "Asking for a large upfront cost instead of month to month as the rest of the industry does."
Define "Large" The most I've paid for one of their systems was $7000.00. If you can't afford it you can't afford it. What rest of the industry are YOU speaking of? You get what you pay for. I have several trader friends who have been involved with programs that charge monthly fees and they lost a lot of money in the process, but still had to continue paying for it. If you have a problem paying an upfront cost for something then don't buy it. Plus, if YOU had a couple of back to back losing trades YOU would probably panic and stop paying for it anyway.
#7 "Lack of back tested data; the data should be years, not months"
I was shown back tested, paper traded and live traded performance results on all of my systems prior to committing any money. That information is provided on the website. They provided 3 to 8 years of testing and trading.
#8 "Selling to the wrong people. I said I was not working, but they continued forward with the sales presentation. Selling a high risk system to out of work people is not a norm for this type of trading."
A) You did have the option of simply hanging up the phone.
B) Having the ability to create an additional source of income, especially if you are not working, makes sense to me.
C) Obviously your definition of “High Risk” is very different from mine. You must not have paid attention.
#9 "There are a number of companies doing this and they are all from the same area So. Cal including Market Masters, BB Trading or Black Box 2 trade, Global Trading Academy, Luxman Trading Concepts, Global Trading Group, and trade tech institute"
Location, location, location. Who cares as long as you're making some money.
As far as the other companies you mention, do some research. Blackbox2 Trade, BB Trading and Luxman are one in the same, in fact they are currently operating as CTI Group LLC, CTI Autofutures Trading and Cooper Trading. I know people that were burned by Luxman, and now they get calls from CTI trying to sell them on another system. Trade Tech Institute was formerly “Spyglass Equities”. Global Trading Academy has had the same name since 1992, and has nothing to do with those other companies.
#10 "Many warnings on the internet about this and similar companie"
The warnings you speak of are from people like you who again, have not actually used GTA system, in fact I saw the same letter you wrote on those blogs. I have read some of the misinformation that is circulating out there in Blog land and none of it compares to the due-diligence that I was provided with and did on my own.
So this is “CTHINK's” opinion, nothing more. He is not a client of Global Trading Academy, he has never used their trading systems, or for that matter, even seen their full presentation. Based on the length of his post I would say he has WAY too much time on his hands....maybe a hobby would help. Something other than trying to destroy the reputation of a legitimate business just because YOU didn't like getting a phone call.
And are we to assume that this person "Cthink" knows everything there is to know about automated trading. Did he have a bad experience with a different company that left a bad taste in his mouth? What are his credentials? If he has any, I would think that he would be proud to tell us who he is so we can all ask for his financial guidance. He states that he is on the "Do not call list" which would make me think twice about his motives here. And why would he asked to be called back if he's on the Do not call list?? He even admits that he "Did not get all the information." He also appears to be an expert on how to set up a phony business. Is this based on his personal experience, because there are a lot of companies out there that HAVE actually been in business that long with a great rating.....does he question them as well. You could find numerous complaints against Walmart or Microsoft or any other company from people who have legitimate gripes. Does that mean we stop buying from them?
Please, BBB and Trust Link, only allow people like me who have conducted business with this company to tell you how we feel, then people can all make a decision based on FACT. And I do not wish to get into a shouting match with anyone please. I'm too old for that!
Sincerely,
G. Wagner
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