Mike Douglas and MTA Online SCAM

This is a discussion on Mike Douglas and MTA Online SCAM within the Educational Resources forums, part of the Commercial category; You're absolutely right. The whole thing is just a very basic form of sales. It's absolute nonsense. Get numbers through ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jan 19, 2017, 4:56pm   #353
 
1 Posts
Joined Jan 2017
You're absolutely right. The whole thing is just a very basic form of sales. It's absolute nonsense. Get numbers through the door and take commission from brokers. I don't have problem with this business model, I get it, all companies do the same. I have a problem with the way they conduct themselves and their claim to be transparent is laughable.

It's obvious they don't make a penny through trading. They claim to have a wealth of knowledge and their results 'speak for themselves'. I literally have no idea what these results are and you'd never find a single verified track record for any of these clowns. They just post the odd good winner on Facebook or Instagram and believe me, they milk it. It all goes extremely quiet or hostile when the inevitable string of losing trades occur. After a loser the 'apprentice' traders are made to feel like they have done something wrong and that the majority of clients are up on their accounts.

Any educator worth listening to should be published/FCA regulated/asked their opinion by major print or broadcast networks. Surely?

The sad thing is, they will continue operate as they have a huge target market. It's not nice to say, but they prey on the lesser educated masses. They are sold a dream. Easy money is all they desire. They are told they can become self sufficient traders even though the majority start with £1000. It's just not achievable.

Barely any of them actually do any research into the industry they are entering and what it takes to become a full time trader, therefore, they are easily manipulated by MTA.
sdot is offline   Reply With Quote
Thanks! The following members like this post: TradeQuietly
Old Jan 24, 2017, 12:53pm   #354
 
2 Posts
Joined Jan 2017
Does anybody know if MTA get a cut of the spreads on each trade that the apprentices place along with the joining fee the broker gives them?
TradeQuietly is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Forex Broker Scam Forex Signal Scam Forex Software Scam Forex Robot Scam TradeComplaint First Steps 4 Jul 4, 2014 8:41pm
MTA v/s IFTA osalasf First Steps 1 May 16, 2010 4:31pm
CMT Chartered Market Technician.MTA M.F Technical Analysis 4 Oct 29, 2009 12:10pm
Douglas and James baz65 Educational Resources 0 Mar 3, 2004 10:27pm
STA or MTA? clylbw Educational Resources 6 Jun 30, 2003 9:45pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)