WizeTrade Software - Serious issues..

Originally posted by dEvNuL
Let me say it a 3rd time: !!DO NOT PURCHASE THIS SOFTWARE OR ANY OTHER SOFTWARE THAT IS THIS RISKY WITH THESE SORT OF TERMS!! You WILL regret it someday... Even you, canyonman, will regret your purchase decision someday, unfortunately... These are usually the sort of messes I have to come in and clean up for companies.....

My analysis has led me to believe that either TradeStation, TradingSolutions, or the one that has won out on all counts is DeepInsight... All of these products seem much more professional..

- Greg
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I too am paid handsomely for reviewing software for my clients which also have included some Fortune 500 companies. I would dispute your claim that I might regret the purchase since the cost to purchase WizeTrade has already been made back many times over.

I do not dispute your caution, it's your right. But let's be clear about one point. You stated that there are binding restrictions here. Well, there are also binding restrictions most software and I am here to tell you, it ain't just the little guy who violates the rules on that game.

Bootlegged software? I can't tell you how many times that I have walked into a client office and had to recommend the purchase of additional "legally acquired" software for their operations. Something as simple as WordPerfect that has been illegally "dubbed" throughout the network because they owned the original copy. And that practice IS ILLEGAL and actionable if reported!

And I know you are aware that there are many individuals who have illegal software on their home systems. You know, that valued piece of software that they borrowed and installed from a friend, or even worse, from the workplace. Again, fully actionable by the manufacturer should they choose. There are many software companies that would frown on your resale of their software. So while you might not like or agree with the practice, it does go on.

No my friend, I'll happily differ with you on this point of regretting my purchase. Especially for a reason like, "I can't resell it!" I am happy with the WizeTrade product and I would readily purchase it again. I was fully aware of the "No Resale" caveat when I bought it. I was not duped or fooled. There was no hidden arm-twister either. And for ME personally, the software works. That's enough to get my user support! Thanks for your review, info, and concerns. :)
 
Originally posted by dEvNuL
Our legal department informs me that though this is a "heavy handed way" to sell software that it *IS LEGAL.

This means once you buy it -- you can't sell it or otherwise get rid of it and that you are ACKNOWLEDGING that IF YOU DO SO you are causing damages to Wizetrade for which they can sue you for....

If the terms were not legal or enforcable - I would say "Go for it", but the way the terms are worded they ARE LEGAL AND BINDING and there ARE NO LOOPHOLES.....
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I thought these three points were very telling in your explaination. First, while you do not agree with how the company works, its agreement is LEGAL.

Second, they clearly say and state out front, "YOU BUY IT, YOU OWN IT!" Again, right out front with their intentions of making sure that you and only you are the owner of the product. Nothing hidden from you at all.

Lastly, against your wish to find something wrong with the practice, you have recognized that the way the terms are written is "legal, binding, enforceable, and without loopholes." I would hope that a client would not ask me to qualify a decision to purchase a product based on the ability to violate the terms of the agreements should they deem to. I would not need a legal department ruling assuring minimal legal consequences for such a violation to help with my decision to find a new client.

Thanks for the detective work. :)
 
Originally posted by SocalTrader
Take a look at www.trade-ideas.com it is free right now and works no tricks :)
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Interesting product. It directly addresses some of the issues that I have talked to the guys at WizeTrade about. Looks like I have another product that needs immediate reviewing! Got my work cut out for this afternoon. Thanks! :)
 
Originally posted by tickler
Before the software was "WizeTrade", an earlier release was named the "Wave on Wall Street". The orginal company name was "2XPI" or "2EXTREME Performance International", but was later changed to "Akahi.com". Both companies (network marketing) have gone out of business. The developer of the software "Wave on Wall Street" took his product and formed a new company, named "ROI Anaytics". Later, the developer left "ROI" and when to this new company, where it aquired an upgrade and its new name. Shortly after that, "ROI" stopped support of the "Wave on Wall Street" and, I think, also went out of business. Since the software had to link to a master web server to run, when "ROI" shut-down the server, my very expensive software just stopped working. No offers for refunds, upgrades or conversion to new company.

I knew a number of people who owned the previous version of the software, but I don't know of anybody who made money with it. I never make a dime with it.
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I have developed software for about 20 years - lots of systems that perhaps some of you use everyday. ...This business of taking an exisiting system, morphing it a bit, renaming the company, going out of business, selling the software to a new company etc etc is all too common. More often than not the original system is full of problems and latter permutations of the software only add to the mess. At some point it all has to be re-written from scratch and you now become the guinea pig tester for the new system, on your own dime.

A good research point for a software concern is to ask how long they have been in business, what their ownership structure is, if they did the original development, and what are their plans going forward for enhancing / fixing problems with the product. Also, another good sign is that the company will FULLY refund your money if not satisfied: Even better is if they can provide source code and/or expedited processes for resolving critical bugs. If you dont get good answers to these questions but still decide to go ahead with using such a system then you'd better have a backup solution in case the purchsed system doesn't meet your needs .......
 
Originally posted by CalTrader
Also, another good sign is that the company will FULLY refund your money if not satisfied: Even better is if they can provide source code and/or expedited processes for resolving critical bugs.

If you dont get good answers to these questions but still decide to go ahead with using such a system then you'd better have a backup solution in case the purchsed system doesn't meet your needs .......
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I know three people who have gotten a refund (one personally). I also had a backup in case it didn't do what I wanted. :)
 
Originally posted by CalTrader
I thought we wern't supposed to advertise here ?
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I don't think that you can over here. But I think you can provide links for others to look at things though. :)
 
Thank you canyon,

It is still possible to create a tool that is actually useful. I use this every day as I trade. Only looking to steer fellow traders in the right direction. The service is free right now so it is really worth it to check it out.
 
Originally posted by canyonman00


I thought these three points were very telling in your explaination. First, while you do not agree with how the company works, its agreement is LEGAL.

Second, they clearly say and state out front, "YOU BUY IT, YOU OWN IT!" Again, right out front with their intentions of making sure that you and only you are the owner of the product. Nothing hidden from you at all.

Lastly, against your wish to find something wrong with the practice, you have recognized that the way the terms are written is "legal, binding, enforceable, and without loopholes." I would hope that a client would not ask me to qualify a decision to purchase a product based on the ability to violate the terms of the agreements should they deem to. I would not need a legal department ruling assuring minimal legal consequences for such a violation to help with my decision to find a new client.

Thanks for the detective work. :)
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Umm.. With all do respect you completely twisted what I said... And, no, it is not clear.... I did not hear them mention ONCE that if you buy it you cannot sell it..... While I respect that it works for you - it clearly does not work for a large number of people as well... In other words, the system is wrong for them.... For those people a purchase of this software is WRONG... And the company has made it clear that they don't want you to find out if it's right before making the purchase.....

Nobody should buy software from a company with those sort of values... I am please that you were one of the lucky ones... But, to suggest that other people should shell out this kind of money for software like this WITHOUT KNOWING IF IT'S RIGHT FOR them... I am, well, shocked because you state you do software testing for companies and that's extremely irresponsible on your part....

The bottom line is this: you don't know if the software is right - you should not buy it... The company does not want you to be able to determine if it's right for you or not... Buy it at your own risk, but understand that if it doesn't work you have absolutely NO RECOURSE....

And as for checking the validity of the legality of the contract - just because someone writes a contract does not mean it's legal.... Are you suggesting that someone should sign an illegal contract and agree to it's terms?...

As an example, here in California, there is a law prohibiting an employer from restricting it's employees from engaging in any legitimate business activity after they leave a company - even if that employee wants to compete with the company they just left... Yet, companies will readily make employees sign these sort of agreements - which are void under California law...

Glad the software is working for you.. As I said, I think it's irresponsible for you to suggest that anyone purchase software with these terms though.... Because the software works for some people and not others... For the people who it doesn't work for - they are going to get screwed over by Wisetrade.... How can you, with a clear conscience, suggest that someone make this sort of purchase knowing FULL WELL there is a significant probability that the software will not meet their needs?.... I find that baffling.

- Greg
 
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