Anybody out there familiar with MTI- Market Traders Institute??

[lbrta]

I have attended several of MTIs webinar presentations and countless calls and emails from their staff. I have also read the many posts here and on other websites, both positive and negative. It was in fact the strongly positive reviews that incited me to examine MTI more closely.

For some reason, something didn't seem quite right with these guys. Josh Martinez claims some hefty returns and at the time was claiming his returns were proven by a 3rd party. At closer inspection, it was uncovered that the 3rd party was merely a website where you can put in any numbers you want. Hardly a convincing 3rd party acknowledgement wouldn't you agree??

The emails give ridiculous claims of $18,000 to $100,000 returns. Sorry sounds too good to be true especially when MTI fails to provide any evidence of these kinds of returns. And especially when the marketplace tells us that over 90% of forex traders lose money. Besides if Josh Martinez and others were actually making these kinds of returns, they would soon be wealthier than Warren Buffet.

By the way, when speaking with a MTI/NEXT STEP FINANCIAL HOLDINGS rep, same company I believe, just different names, I asked the MTI rep about Warren Buffet. He said 'Who?" Then he said, "You mean Warren Beatty?" He really didn't know who Warren Buffet was.

The refund policy is also questionable. During the webinar we are told, "you have 60 days to examine and use the Ultimate Traders Package. If you are not happy for any reason, you will get your money back, no questions asked." However, when you are not happy and call for a refund questions will be asked. Also there were issues logging on. It seems as though the company will do whatever they have to to keep you on untill the 60 day expiration. Then it's tough luck Charley.

The alerts are not that accurate. I demo traded using MTIs alerts. Had I used real money, I would have lost over 1,000 pips.
Thank God for demo accounts.

The so called "educational specialists" are actually used car or snake oil salesmen who will do whatever they have to get you to buy. Read the following email I recieved frm my "educational specialist" in trying to close the sale. I have removed his name so as not to embarass him. The rest is his writing:

I am able to spread your monthly payments for 18 months which would be $277.50 a month with a $500.00 down payment. This also includes me being able to save you $1,500.00 off the price of the Ultimate Traders Package so instead of paying $6,995.00 you will be paying $5,495.00.

The normal minimum deposit for ILQ is $300.00. The leverage for international clients is usually 100 to 1 and up.

Please let me know ASAP if you want to take advantage of this offer as it will only be for a limited time. I will be sending you out the education order form to review and sign if you decide you want to come on board.

------------------------------------------------------------

Notice how it is always "limited time" "special deal" "just for you" "ok'ed by me"?? When I was first called about this, I was told the price was $6995 and if financed, it would be no less than $2,000 down. I battled with him and got him to drop the price down to $5400 and only $500 down. As far as I am concerned, this was still too much. I understand they offered this same program to a friend of mine for as little as $2500! I have to wonder what the real bottom price is?

Finally, I just found out that Shawn Beecher has left MTI. In my opinion, Mr. Beecher was the only quality I saw at MTI. He seemed to talk the talk and walk the walk and spoke like someone who really does understand and trade the markets. When top officers leave the company, that is never a good sign. In fact, it is usually the first sign that a company is falling apart.

I am not happy with MTI and based on personal experience, would not recommend them.

 

[jono5900]

Just sat through one of this guy's "webinars" and boy, what a snake oil salesman.."I'm doing this for you!..I've already made my millions!..I believe in honor and giving back..I've entered the mentor period of my life!"..

This dude's delusional as he constantly repeats this same mantra as if he hopes to believe it..lol

But that's even acceptable because at least in this way the only one he's deceiving is himself.

But demonstrating how everyone's going to make tens of thousands of dollars by stressing profit potential on Monthly charts is just plain deception.

Not once did he demonstrate anything proprietary or even address the shorter term ups & downs that any experienced trader would point out on a more realistic shorter term chart..say a 30 minute chart which is the exact opposite of a Monthly chart.

And I don't even care if he promises to "educate you via use of his extensive resources"..It's the principal that it took an experienced trader to pick up his 3 Card Monty charade..and that's all I need to see in order to advise running for the hills.

Anyone who's an experienced trader knows the sneaky aspect of that kind of viewpoint.

Congratulations Mr Martinez, you could be the biggest snake oil salesman I've ever witnessed in the "Trading Education" racket..

And that's saying a lot!

 

[Market Traders In.]

A.M. Bankus,

Firstly, as an MTI representative, I commend you for doing such in-depth research. I do want to clarify and offer my assistance. Some posts here are from MTI competitors or people who have openly stated that they are not our students and have not come into contact with our brand yet. I am hoping to give you useful information to further your research.

We have been in business for more than 20 years and we were started by an actual trader who was sick of the marketers who sell a cheap system with no support that many people on this post acknowledge. It’s a sad reality. Because of this, MTI was created to provide systems and training coupled with a staff of analysts, various support functions (real people, not machines which is something we are proud of too), and dedicated education specialists as well.

We totally see what you are saying about our big claims. The truth is that all of our webinar hosts are traders. Our founder (who is still very active in the company and teaches classes regularly) is a real trader. We are able to make big claims because they are true. We use our systems and training in personal trades.

Also, I know that you might still be wary. We understand this completely. You can also see the stories of our students that they share on our Facebook page. We encourage you to reach out to any of our students on Facebook and ask them about their training and results. They are typically very open to share and that way, you don't have to take our word for it! We also invite others to drop by our office in Lake Mary, Fla. if they want to and this invitation is open to you as well.

We're glad that you reached out. Your cautious nature is something that will serve you well in your Forex trades. We hope this helps. Reach out to us if you need anything else. Our number is 866-787-8558.

 

[Market Traders In.]

Quote from Wealthmaster:

Several weeks ago I was invited to one of their Free No Obligation Webinars via Schaeffers.

Hey Wealthmaster,

I’m a representative for MTI. I’m curious to learn more about your experience as some of what you’ve said doesn’t match our typical processes.

We make a point to make sure that all of our webinars, either with Schaffer’s Investment Research or other companies, are explained to be product demonstrations that offer an inside look into what we offer. We do call after presentations to gather constructive feedback from attendees in order to better our presentations and to answer any lingering questions they may not have asked during the presentation. What has me confused is that these calls typically do not occur until several hours after the presentation if not the next day. Because this sounds so odd to me and because what you described is so far from what we train for our calling process, I’d like the opportunity to review the call in our records if you’d be willing to contact us with the call day and time details. You can reach us at 866-787-8558 or email cs@markettraders.com.

As for the testimonials, all responses on our Facebook pages (www.facebook.com/MarketTradersInstitute) are from real students. Our students are very vocal about their trades and progress. We encourage sharing on our Facebook page as a way to promote community and communication among students and traders alike. I know that it can be hard to tell if these are real students, but I encourage you to personally message anyone who has discussed their results on our Facebook. I cannot assure that the students will respond, but I have seen them do so in the past.

Also, you can find reviews of Market Traders Institute on Forex Peace Army. See those here: http://www.forexpeacearmy.com/public/review/www.markettraders.com.

 

[Market Traders In.]

Quote from Money Strategy:

I attended one of the Free Webinars after receiving an unsolicited phone call from Next Step Financial Holdings. I was told that they were resellers for MTIs (Market Traders Institute) products.

Hello,

I'm a representative with MTI. I've reviewed your post and I think I can help. The way your case has been handled does not stand up to our high standards. We would like the opportunity to correct this problem and to review the call that took place through our records for training purposes.

I know that you stated that you're in the middle of a refund request, but we would like to gather some information from you about the technical errors and phone calls that you experienced in order to fix this. Please contact cs@markettraders.com so that we may do so.

 

[Market Traders In.]

Quote from bmj1983:

TOO GOOD TO BE TRUE

Bmj1982,
I’m a representative with Market Traders Institute. I know that this is your first post on this site. Some of the claims being discussed here do not sound like what we train our representatives to say. All of our calls are recorded for quality assurance, compliance and training purposes. I would like to know when this call took place and who you spoke to so that I can pull and review the call and correct any issues. I would like to contact you to see if we can clarify any information if there is any confusion. I was wondering if you could give us a call so that we can clear the air. Our number is 407-585-0132. When you call, I’d like to also gather information about when this call took place so that I can reference the call recording for training purposes.

Also, I believe that you’ve posted varying versions of this situation on multiple review sites and forums from as far back as April of this year. If you don’t mind me asking, are you continuing to attend our product demonstrations?

Thanks for reaching out and we hope to hear from you soon.

 

[Techno_Trader14]

Let me start by saying this is my first post here and I was attracted to this page enroute to doing some research on Market Traders Institute and Next Step Financial Holdings. I would like to thank Elite Trader for offering individuals like AM Bankus, Red Duke, Bob 111, Fighting Scams, Wealth Master, Currency Trader, Money Strategy, bmj1983, res19kie, jono 5900 and lbrta for posting and sharing their experiences. I also want to thank those people for taking the time to tell us about this. There are a lot of scams out there for sure and I am glad that people like you are proactive enough to warn the rest of us so we don't fall prey to these scamsters.

I am not a student with MTI but have been through the drill and want to share my experiences. It all starts with a phone call and.or an email with an invitation to attend a free webinar. When you register, you MUST give your email address and phone number or it will not be processed. As a suggestion here, give a secondary email and never give your cell phone number. By the way, as of Oct 15th, 2013, new telemarketing rules state that sellers cannot call people on their cell phones using an automated dialer. MTI/NSFH uses an auto dialer. Even though they make calls from Orlando, FL, no matter where in the country they call to, it shows up as a local number with your local area code and prefix. If you get a call on your cell phone it is illegal.


Before the webinar you will be inundated with calls and emails reminding you to attend. And even after you log on, you will still get emails as reminders.


The webinar presentation is for lack of a better name, a glorified sales pitch with some very basic information; Forex 101 if that.

You will hear about remarkable trades and incomes being made and then at the very end you will be told the price and the real reason for the FREE webinar which is to sell you their products. Then you will be told that if and only if you want more information, leave your phone number. Then the presenter reads out a litany of names thanking them for leaving their phone numbers. I couldn't help but think that he pulled these names out of the air. Throughout the presentation he would call people out by name who asked questions, but at the very end he had a ton of people supposedly leaving their phone numbers, names which were never mentioned before.


Even though I didn't leave my phone number, I got a call from one of their used car salespeople. He started off gentle and then got progressively more aggressive. He made me an offer similiar to what blbrta wrote about; special deal, discounted prices, special terms, low monthly payments etc. I said it was too much. He responds, "No problem. I can fix it." Then he talks to me for awhile and comes back with another offer that is even higher! Since when did too much translate into I want to spend more?

I told him that I felt like he was pressuring me. He responded with something about "Don't mistake my enhusiasm and passion for high pressure. Let's do this!" I thought WTF??

He still continued on and on and telling me about these testimonials on certain websites and on facebook. I have always been skeptical about them as I am about 1 star negative reviews. You never know what the goal really is of an individual and if they are true.

So then I told him I wanted to think about it. I needed more time. His response was "That is why you are not making any money. You are wasting too much time thinking. Let's do this!"

Darn this guy was pushy. But here is the best part. I never met this guy and was talking to him for the first time ever. He says, "Call me Danny Bear."

DANNY BEAR??? LOL. What names do the other reps use? Sugarpops? Popsey? Tootsie Roll??

At that point I hung up but the calls and emails continue.

In another regard, I hear a lot of complaints about refunds which is what also turned off to MTI. The refund used by MTI is really just the same refund extrolled by people like Wade Cook in the 1990's with his Wall Street workshops and others promoting investing seminars. Those companies also recieved a ton of complaints from customers who felt that the refund policy was unfair. In fact, the attorney generals in many states went after these guys and demanded that they repay customers and the companies had to pay up. Remember, these companies do not make the law.


It should also be noted that those companies had 3-5 day hotel seminars, with live training, real instructors and gave home study materials which included thick manuals along with audio and video programs. These companies complained that they went through considerable expence and effort to put these programs together and train clients. It didn't matter. They had to pay restitution back to clients. MTI?? They offer a product that is 99.99999% precorded video online. Their costs are minimal. Their profit margins are huge. They could provide a refund in a heartbeat and never miss the money.

MTI tries to pass itself off as a big company and a 800 LB Gorilla. In reality, anyone who has heard of them looks at them as a less professional version of Better Trades, Pristine, Online Trading Academy and some of the other companies that have been out there and do a much more professional job and have better trainers and presentations.




What does MTI offer? Basically a program that is 99.9999% prerecorded video, no books or manuals, no live instruction, no costs for leasing a room. They also offer some onsite classes with additional travel and hotel costs and of course their Mastery Course which only costs another $15,000 for 2 days of training with the FX Chief. Yeah, only $15,000 PLUS travel and hotel expences. Those old seminars charged $4,000 for a 3-5 days live seminar and offered travel discounts.




Some people like to try to compare what MTI offers to college. If you enroll in college and for some reason need to cancel, you are refunded your money with perhaps a small processing fee charged. If you leave after classes start, it is prorated. That's it. No questions asked.




As a couple of others said above, "Those who can do. Those who can't, teach."




Thank you Elite Trader for offering us the space to post this. I will be posting on other threads. I like this website.

 

[Market Traders In.]

Hey everyone,

You're invited to a free Forex meetup in Lake Mary, Florida at MTI headquarters.

Details here:
http://www.meetup.com/forex-traders-network-cfl/events/154915012/

A couple of times each month, we bring in some of our best traders and let them teach a timely Forex topic to the group. This time, they're talking about basket trading (also known as indices trading). It's a way to see how certain pairs correlate and how you could trade multiple pairs more easily using solid technical analysis. Don't miss it.

No charge. No dress code. Refreshments will be provided!

This is your chance to meet other local traders, discuss your trades and really see what MTI is all about.

RSVP required. RSVP here:
http://www.meetup.com/forex-traders-network-cfl/events/154915012/

 

[Maverick74]

I'm really curious about something. What are you guys hoping to find or learn when you attend of these seminars or webinars? I mean there is so much free info on the internet and some of the content is outstanding. What exactly do you "think" is going to happen? What does common sense tell you? Are you guys complete newbies starting out? Are you just trying to meet other traders? Are you trying to learn a strategy? I'm just curious.

 

[Market Traders In.]

Quote from res19kie:

I have been a student of Market Traders Institute for about a year now

Res19kie,

I’m a representative with Market Traders Institute. I have read your post and would like to help clarify some of your concerns to see if I can help you out in any way. Thank you for brining your concerns to us as we enjoy the opportunity to receive real feedback from traders like yourself and your opinions are valued.

Firstly, the relationship between MTI and NSFH is a close one. Next Step Financial Holdings, Inc. is the authorized reseller of MTI’s education where potential MTI students have the ability to purchase the courses, speak to an educated account executive, and even receive payments plans if this helps them get the education that they need and want in order to reach their Forex goals. NSFH was not brought on to pollute any efforts – it was enlisted to further our standards for the type of educational support that few if any other Forex educators can provide at the same high level.

The Ultimate Traders Package on Demand (the FX Chief’s mentorship session is a part of this) that you refer to cover a great foundation of Forex material where some items are repeated, but the natural repetition comes as core lessons come full circle in the more complex lessons. Also, some of this core material can be found online, but you won’t get the live support, up to 19 hours a day of live trade set up analysis, mentorship sessions with a pro, etc. In order to make sure that these keys are seen in the most applicable sense, we do like to refer back to core concepts that help to tie everything together. The other courses build upon this with a more in-depth look at particular trading styles and skills based upon requests of the students that we seek to serve. We are constantly trying to not create new products for the sake of show, but rather to make sure that we can provide everything that our students need to hit their individual trading goals as this is our mission. With this said, I’d like to reiterate our extreme determination to be there for our students. Sales is not our top priority. The success of our students is how we ultimately determine success. If this sentiment was not apparent in your experience with our sales team, I ask you to please help me do anything I can to correct it. If you would email cs@markettraders.com and let us know the date/time of your call or even your name to where I can pull the call, I would like to review it and use it for training purposes. Any phone call with our representatives that does not express our deep concern for your needs does not fit the quality standards that we strive to implement and I would like the opportunity to correct that.

I hope this helps, Res19kie. If you should need anything, please reach out to us at 800-866-7431 ext. 239.