Mike Douglas and MTA Online SCAM

[MarginHopper]

Firstly I would like to commend your response Billie. I was not sure about posting when I saw posts from others but your posts are constructive and fair.

My view is that this thread is about MTA's actions, the social media sales tricks, the lies and the fake trades which indicate a scam. It is not an attack on any success.

This whole thing about the company relying on broker commissions and not providing successful trades (apprentices having to analyse the MTA signals and decide which will work) does not look good.

If you have managed to make some profit that's great, for me, I would rather find a successful trader as a mentor rather than a great salesman.

 

[prof1tk1ng]

Firstly I would like to commend your response Billie. I was not sure about posting when I saw posts from others but your posts are constructive and fair.

My view is that this thread is about MTA's actions, the social media sales tricks, the lies and the fake trades which indicate a scam. It is not an attack on any success.

This whole thing about the company relying on broker commissions and not providing successful trades (apprentices having to analyse the MTA signals and decide which will work) does not look good.

If you have managed to make some profit that's great, for me, I would rather find a successful trader as a mentor rather than a great salesman.

Evening MarginHopper.
"I would rather find a successful trader as a mentor"
This is exactly what they do. I've just finished listening to a webinar by one of their fund managers. This guy is an excellent trader, he's very strict with his risk management, and he is an excellent tutor and mentor. And its all free. Yes, you can opt to pay for extra tuition, boot camps, etc. but there is zero heavy selling within MTA. You are made aware of the options available, but it's up to you if you want to take them.

 

[ctrl]

This is exactly what they do. I've just finished listening to a webinar by one of their fund managers.

How can they have employees managing client funds? They're not authorised by the FCA to carry on that activity...

They're either doing so illegally, or it's another misleading marketing tool(i.e. people with no financial services experience are very easily pushed over by terms like 'hedge fund', 'fund manager', etc.). Which do you think it is?

 

[MarginHopper]

Risk management is an important part of trading, it's surprising that despite claiming they do what they teach, many of the trades they post (the one that are not faked) do not follow even basic risk management.

Risk management and trading can be learnt from a good book or online for free. If you prefer the personal touch that's fine but don't be fooled into thinking it's free. MTA get commission from the broker so you don't know how much it is actually costing you.

Spread betting brokers get money from the spreads and get to keep any money you loose. It is just you playing against the broker, any money you make comes out of the brokers pocket, any money you loose goes into the brokers pocket. Think about it, if MTA could make even a small number of apprentices successful and rich, the broker would loose out and fail.

A good salesman can sell you information on the trading process and risk management which is available on the net for free.

A good trader can consistently identify profitable trades.

MTA making apprentices responsible for deciding which trades to take is simply a way to pass blame for failures due to a bad strategy, the internet is full of people trying to sell rubbish strategies by sexing (hype) them up in some way.
Not every trade will be a winner, every trader has some losses, but a good trader consistently makes more than he looses (obvious right).

No one likes to admit to being conned or fooled and some never realise it. The best way to avoid it is research. Scam artists rely on people's greed and laziness.

 

[prof1tk1ng]

How can they have employees managing client funds? They're not authorised by the FCA to carry on that activity...

They're either doing so illegally, or it's another misleading marketing tool(i.e. people with no financial services experience are very easily pushed over by terms like 'hedge fund', 'fund manager', etc.). Which do you think it is?

As far as I am aware, they are licensed to trade clients' accounts.

 

[prof1tk1ng]

Risk management is an important part of trading, it's surprising that despite claiming they do what they teach, many of the trades they post (the one that are not faked) do not follow even basic risk management.

Risk management and trading can be learnt from a good book or online for free. If you prefer the personal touch that's fine but don't be fooled into thinking it's free. MTA get commission from the broker so you don't know how much it is actually costing you.

Spread betting brokers get money from the spreads and get to keep any money you loose. It is just you playing against the broker, any money you make comes out of the brokers pocket, any money you loose goes into the brokers pocket. Think about it, if MTA could make even a small number of apprentices successful and rich, the broker would loose out and fail.

A good salesman can sell you information on the trading process and risk management which is available on the net for free.

A good trader can consistently identify profitable trades.

MTA making apprentices responsible for deciding which trades to take is simply a way to pass blame for failures due to a bad strategy, the internet is full of people trying to sell rubbish strategies by sexing (hype) them up in some way.
Not every trade will be a winner, every trader has some losses, but a good trader consistently makes more than he looses (obvious right).

No one likes to admit to being conned or fooled and some never realise it. The best way to avoid it is research. Scam artists rely on people's greed and laziness.

If you read my first post you will see that I state that I am fully aware they make a commission from my account deposits, and my spreads. I don't believe I am being fooled. I've done my due diligence and entered into this eyes wide open.
But absolutely, I learn much better with the personal touch. the hours these guys put in to the education is phenomenal. THIS IS FREE, NO CHARGE, NOT COSTING ME ANYTHING, except for my time, which I am only too glad to give up to learn from someone with a proven track record.
Are you profitable in trading?

 

[ctrl]

As far as I am aware, they are licensed to trade clients' accounts.

https://register.fca.org.uk/shpo_searchresultspage?search=mta&TOKEN=5zq3mgf0d8qk They're not.

 

[prof1tk1ng]

https://register.fca.org.uk/shpo_searchresultspage?search=mta&TOKEN=5zq3mgf0d8qk They're not listed.

No, they wouldn't be as they are in the process of applying for FCA registration, which is why they are limited in the funds they can manage.

 

[MarginHopper]

You are very keen to push the claim the apprentices scheme and training is free, no charge this is simply not true.

You do look a bit stupid as a few lines above you put:
"I am fully aware they make a commission from my account deposits, and my spreads."

So it is NOT FREE and MTA are making money from HIDDEN COSTS.

Depending on spread size this could mean something like 10% of any winning trade and all the money from a loosing trade goes into MTA and the brokers pockets.

It has been clearly shown these guys are not good at trading and fake results. Where do you think their money comes from. Let's put it another way, 90% of traders fail which will include the so called apprentices. So out of every 100 apprentices assuming an average account of $1000, MTA and the broker make $90000 not including the spread on winning trades.

 

[MarginHopper]

No, they wouldn't be as they are in the process of applying for FCA registration, which is why they are limited in the funds they can manage.

Bet they are hoping the FCA don't see this site and all the proof of lies, fakes and sales trickery. Lol

 

[prof1tk1ng]

You are very keen to push the claim the apprentices scheme and training is free, no charge this is simply not true.

You do look a bit stupid as a few lines above you put:
"I am fully aware they make a commission from my account deposits, and my spreads."

So it is NOT FREE and MTA are making money from HIDDEN COSTS.

Depending on spread size this could mean something like 10% of any winning trade and all the money from a loosing trade goes into MTA and the brokers pockets.

It has been clearly shown these guys are not good at trading and fake results. Where do you think their money comes from. Let's put it another way, 90% of traders fail which will include the so called apprentices. So out of every 100 apprentices assuming an average account of $1000, MTA and the broker make $90000 not including the spread on winning trades.

lol. I'd argue its you who looks stupid as I have said it's free, it's not costing me anything.
A broker will make money regardless of which one we use.
I also said that we were directed to the broker as they are sponsoring our training. How much clearer could I be here?!?
You sound very bitter. Is it because you are not profitable in your trading?
Maybe you could learn to trade from them?

 

[ctrl]

No, they wouldn't be as they are in the process of applying for FCA registration, which is why they are limited in the funds they can manage.

That isn't how it works.

 

[MarginHopper]

Prof1tk1ng -. I am not sure why you think I am bitter just because I pointed out the hidden costs and how MTA make money?

You are clearly a strong supporter of MTA, I wish you well in your trades and hopefully you can be one of the 10 in 100 who don't get wiped out.

 

[prof1tk1ng]

Prof1tk1ng -. I am not sure why you think I am bitter just because I pointed out the hidden costs and how MTA make money?

You are clearly a strong supporter of MTA, I wish you well in your trades and hopefully you can be one of the 10 in 100 who don't get wiped out.

Because YOU didn't point it out. I made it very clear in my first post!

 

[Learning2profit]

New user here, I started with MTA last year but dropped out after a few months for personal reasons but I'm back learning with a different company now.

I just want to point out that I am friends with quite a few of the lads who were in our group and are now doing their own stuff. They've become consistent profitable traders so I would not say what MTA teach is a load of rubbish because it's clearly not. You might not agree with me but I've seen it with my own eyes.

Please don't take this comment as if I worship MTA because I don't but the stuff they teach works.

 

[prof1tk1ng]

New user here, I started with MTA last year but dropped out after a few months for personal reasons but I'm back learning with a different company now.

I just want to point out that I am friends with quite a few of the lads who were in our group and are now doing their own stuff. They've become consistent profitable traders so I would not say what MTA teach is a load of rubbish because it's clearly not. You might not agree with me but I've seen it with my own eyes.

Please don't take this comment as if I worship MTA because I don't but the stuff they teach works.

Hi Learning.
I've been with MTA since July. Do you mind if I ask you why you chose to continue your leaning with a different company, and who that company is?

 

[Learning2profit]

Hi Learning.
I've been with MTA since July. Do you mind if I ask you why you chose to continue your leaning with a different company, and who that company is?

I just had no time to dedicate myself to the apprenticeship at the time. Few issues but I don't want to go on about them all but changing broker constantly for affiliate payments put me off big time. I see people still having problems with the old broker which involved not getting all of their money back!

Fxtsuccess - have a look prof1tk1ng

Also the Slovenian mta team are doing their own thing called take profit now.

 

[prof1tk1ng]

I just had no time to dedicate myself to the apprenticeship at the time. Few issues but I don't want to go on about them all but changing broker constantly for affiliate payments put me off big time. I see people still having problems with the old broker which involved not getting all of their money back!

Fxtsuccess - have a look prof1tk1ng

Also the Slovenian mta team are doing their own thing called take profit now.

Yeah the whole broker change was a nightmare. Thanks for the link, I'll take a look.
Slovenian MTA team??? Whats that?

 

[Learning2profit]

Yeah the whole broker change was a nightmare. Thanks for the link, I'll take a look.
Slovenian MTA team??? Whats that?

If you look on matt travis fb there was a lot posted about going worldwide different countries etc. They started one in Slovenia but they ended their business with MTA and did their own thing.

I'd rather be taught by someome who has their feet firmly on the ground. Not someone who thinks their second name is mcgregor.

 

[ctrl]

From Matt Travis: "Lovely. 5 million account being doubled and handed over to us for 2017 after a successful year. Plus the FA have invited me to meet with them again regarding future education with retired players."

Why would he lie about something so easily verifiable?! Aside from the fact that he, presumably, means the PFA (Professional Footballers Association) and not The FA, it took only a moment to inquire with the FA who have, quelle surprise, never heard of MTA Live.

It also seems like he's going to help 'ex-serviceman', which sounds like a great idea; although I can't help but think MTA will simply exploit for their own gain. He's also going to take Bank's clients, but again, this was severely lacking in detail and he seems to have not even the most rudimentary understanding of banking services and the products they offer (presumably his understanding is limited to current accounts / savings accounts), or the extensive regulatory framework he would need to implement / get a banking license from the FCA / PRA (which they simply won't approve).