Market Traders Institute (MTI) Complaints and Reviews
Feb 21, 2015
Beware of this company. They try to manipulate you and use intense selling tactics. They are a factory of poverty. They constantly betray all the good philosophy they have in the first lessons of the UTP. Servers felt down regularly while I was there. Asked for a refund in 4 weeks.
Never give them you home phone number, they'll call at any time. I live in the same time zone as MTI and they called at 10 pm on a thursday..
Never give them your credit card info, use only paypal if you want to see for yourself how bad they are. Warning, the first 2 lessons will make you think you found gold, after you finish all lessons you'll realize it is not. Stay away from this company.
When I first decided not to take the course I though of buying fxchief's books because of the trading psychology ideas in the UTP, after one more week I just didn't want to know anything more about their cheap approach to life. Alexander Elder's Trading for a Living is a much better and serious book to get a solid mind set to trading. So MTI is really worth nothing. Don't buy anything from them. They are a basket case.
Jan 16, 2015
Just signed up
I just Signed up with Market Traders Institute, even though there is a shit load of complaints here I was convinced that I could try it for free for 2months, I am gonna give it an honest Try and Write back in about 2 months to review their services
Jan 9, 2015
I joined mti several years ago. I was new to 4X trading, so subject to the exaggerated claims made in their webinars. The basic training in the UTP is sound but can be had for free in many other courses, webinars and online sources. The charting is white labeled from Fibonacci Trader. Mti doubles the monthly licence. Their prop indy's are easily reproduced. Take a screen shot during a webinar, work with moving averages and ChandelierStops to re-create Turbo Trader. Mti's slavish devotion to fibonacci ratios is mythical, as is the success of trading fibs. Trading fibs in ranging markets is a quick way to blow out your account. Hint: pull the fib on a measured move, A to B... trade the retraces back to B. And you don't need a 'colored' fib tool to know where a retrace may go. They should change the name to 'marketing to new-traders institute'.
Now, I will say that they have, behind the scenes, a couple of very good traders, but they're swallowed up by the marketing juggernaut.
I agree with an earlier entry... not a scam but aggressive, overpriced and over promised 4X training capitalizing on economic frustrations created by bloated, over regulating and over taxing socialist governments that fill the earth.
Good choices, Good trading!
Dec 20, 2014
Not worth the money
The price they charge is hyper inflated for the content and cost of the program. There is nothing here that you cannot find on your own on the internet or in a good book for less than $75. Save your money. Not worth it. Just a money making scheme.
Nov 10, 2014
Their technique is too complex and their cost is unprecedented. All they care is to put money in their pocket. STAY AWAY from them,
Jun 30, 2014
I joined in 2012 and went thru everything and lost money in a demo account using their Fibonacci techniques and received a full refund. The Fibs only work in strong trending markets and usually on higher time frames. Also the market is going sideways about 70-75% of the time so the Fibs would be effective 25-30% of the time. Chris Beecher called today to try and get me to join again and attend a seminar.If you are going to join any trading program ,I would suggest you get the trader's real trading records (if they even trade real money) and made sure the trader makes real consistent profits for at least 3 years.
Jun 9, 2014
We're Here to Help
I’m a representative with Market Traders Institute and would like the opportunity to discuss your concerns and clarify any misinformation you may have. Some of the misrepresentations posted here seem to be posted based upon spotty information and we’d like the chance to fill in the holes to help everyone reach their investment goals in any way that we can as a 20-year educator in this arena.
If you would like, we have a staff of more than 100 individuals dedicated to helping you and we’d like the chance to address your concerns on a more personalized basis -- giving you the attention that you deserve. To reach us, please call 800-866-7431 ext. 239.
We appreciate your feedback and we hope to hear from you soon.
May 23, 2014
They got my name from Schaeffers and usually buy lists from companies like Motley Fool, Trader Planet and other sources. They look for investors and give them their FX pitch. It starts by being invited to a free webinar. And once they get your name, you will be bombarded with emails, all with special offers, once a year 50% discounts that happen every t here months or so and like the person above said, when you call back, they will tell you that you just missed it. It has either expired or there was limited number available. What a crock!
If you google Market Traders Institute or Next Step Financial Holdings, same company I believe, you will find a ton of complaints. Also check out Forex Peace Army. It is almost too funny that everytime a complaint comes up, which is regularly, a guy named Eric Johnson will provide excuse filled explanation as to why the customer is in error, didn't understand something or whatever. I have to wonder if this Eric Johnson is a real person. Sounds almost like a cartoon character.
The webinars usually start late and are not very professionally done. It's like a time share presentation. You get a little info about the product and a huge sales pitch. It's about 20 information and 80% sales. It really is a sugar coated informercial. I don't know why they call it a webinar.
The Forex Training course they offer, The Ultimate Traders package is just a lot of hoopla and hype. It is not worth the money, not even with the discount, if you can get one and it hasn't expired. When one of their salesmen calls you, they will tell you special deal limited DP of $2,000, special offer for today only. But it's the same offer they make every day and if you push them you can get the DP down to as little as $100 and get them to drop the price of the course from $7,000 to in some cases as low as $3,500.
They will tell you that the ultimate traders package is a lifetime of education, but once you enroll in that, you will then be hustled to enroll in other programs like scalping and buy other services which are also overpriced.
I understand that the Martinez family got into a lot of trouble a few years ago and had one of their companies shut down. I think it was called iTradeFX. They have also had some of their overseas companies shut down as well. I mention this because they promise a lifetime of education. What is a lifetime when the company goes out of business?
Just a precaution. Won't call them a blatant scam, just over aggressive in their tactics and sometimes not too truthful in their claims.
Another thing I wonder about, they got my name from Schaeffers. They claim to have all of these happy students but never get nominated for any awards like with Trader Planet. They claim this is because Trader Planet collects email addresses and sends them information about other products and MTI claims this is against their ethics. My understanding is that MTI has bought leads from Trader Planet as well as Schaeffers and others. So what is with this ethics thing? Total bull! If these guys were as good as they claim, they would be nominated. Problem is companies like Trader Planet and others carefully screen votes so the same person can't vote 50 times by changing his name like we presume the raving 5 star reviewers do on other boards.
Barnum & Bailey would look proudly on MTI.
Mar 28, 2014
MTI new scam tactics
I got an email stating that I had won a scholarship for their flagship course and that I should contact them to claim the Price. The email they sent said that my price would expire in about 7 days. When they contacted me 2 days later, they said the scholarship was for a 50% discount on the normal tuition for the course but that it had expired the previous day and that I should pay the full amount. As a favour, they said, they would make an arrangement to have me pay for the course over a period of time. I refused.
Then the salesman said that he would make sure that he takes me off all future webinars and that I don't have any dealing with MTI ever again.
The way I see it, they have sent this email to hundreds of people telling them that they have a won a scholarship. The scholarship has now expired, so the people should now pay the full $7 000 tuition fee on terms.
I don't know about you, but this looks like a scam. A big one. A very very big scam!
Mar 27, 2014
Super Scam MTI Forex
Snake oil Saleman Definitely avoid!!
Forex can not be simplified and wealth
Guaranteed as they infer with their
Overpriced used car salesmen pitch!!
Jul 20, 2013
MTI - Next Step Financial Holdings all criminal companies
I say all the same - exactly like the perosn above ! Market Traders Institute (MTI) and also Next Step Financial Holdings - and all the other SUB-SUB-SUB companies from these great network ! BE AWARE - they take your money - and you will get NOTHING back ! Be sure ! They are doing only systematic fraud and swindle. This is no campaign against these companies - Try to get your moeny back - and you will receive the same like all others - nothing. Service NOTHING. It's wondering that so many people have the same experience with these company - are all these victims lying - why ??? When they did a serious Job - and give the money back - there is no problem - but they do not - because there business is scamming, fraud and take money for nothing from FX - beginners ! So i hope this warning willl reach you !!!
And much more very bad results if you look for MTI , Market Traders Institute, Next Step Financial Holdings fraud scam in google:
Jun 7, 2013
another fraudulent company
Market Traders Institute is just another t fraud, beware and be careful! This company contacted me by phone and offered their services using pushy tactics. I submitted to their service but it was a huge mistake, unfortunately I understood it later.
This company works with telemarketing and uses pushy tactics preying on naive and trustful clients. After I was registered with this company I found that MTI products brought me nothing but problems, such as technical problems etc. I contacted their support service and the guy I spoke with promised me to call in few days after the problem was solved. He never called back and I was waiting more than three weeks until they finally had a look at my request. All this happened ever before I started to work for them. OK, that problem was solved and they send me various trials which i was unable to install. I contacted them about this but I never received any support. During that time I already understood that this kind of work is not for me and I don't want to have any deals with this company. I contacted them and claimed for a refund but they refused me. MTI simply didn't honor their own refund policy and ignored all my claims. All what I managed to do was to cancel their services and forgot about this nightmare, but money I spend for them were wasted. Beware and be careful - this company is suspicious and not clear. Their business must be avoided!