Mike Douglas and MTA Online SCAM

I have given MTA a small £15k fund to trade and will review progress after 90 days.

I will be 100% unbiased with my review and will be posting screenshots of my managed account daily on the FB page below:
https://www.facebook.com/mtaliveuncuttradingdiary/

Good or bad, it's my intention to reveal truth so the speculation and assumptions can end.

If anyone requires any further proof that this a real account, and that I have no association with MTA, please feel free to get in touch.
 
I have given MTA a small £15k fund to trade and will review progress after 90 days.

I will be 100% unbiased with my review and will be posting screenshots of my managed account daily on the FB page below:
https://www.facebook.com/mtaliveuncuttradingdiary/

Good or bad, it's my intention to reveal truth so the speculation and assumptions can end.

If anyone requires any further proof that this a real account, and that I have no association with MTA, please feel free to get in touch.

I also hope that I'll have the full cooperation of MTA and no attempt will be made to take it down.
 
so you're just randomly signing up today, looking at a thread that has nothing but bad news about MTA and you're gonna take a gamble with 15k???

seems legit.

Only been learning to trade a few months myself, but doesn't he have to have an FCA license to trade funds for other people?
 
so you're just randomly signing up today, looking at a thread that has nothing but bad news about MTA and you're gonna take a gamble with 15k???

seems legit.

Only been learning to trade a few months myself, but doesn't he have to have an FCA license to trade funds for other people?

I funded an account and gave them access at the beginning of August, not today.

Apologies, that wasn't clear from my previous post.

Yes, the account has just £15k in it.

They would need to be regulated to receive funds from me and trade them under their own name. However, they never actually receive funds. They just login to my account and trade it as a service offering. My terminology may not be 100% on point with the word "service".

Happy to provide the contractual agreement they asked me to sign if that helps?
 
I funded an account and gave them access at the beginning of August, not today.

Apologies, that wasn't clear from my previous post.

Yes, the account has just £15k in it.

They would need to be regulated to receive funds from me and trade them under their own name. However, they never actually receive funds. They just login to my account and trade it as a service offering. My terminology may not be 100% on point with the word "service".

Happy to provide the contractual agreement they asked me to sign if that helps?

If you funded an account at the beginning of August then can you share your results so far? This should be an interesting 90 days for everybody watching from the sidelines like us.
 
It's very interesting to see how MTA have made a U turn on their previous courses etc. The live 15k account already looks down. I hope this is the proof that stops other people going through what annoyedtrader went through.

I would love to see the evidence of some people dishing the inside info donnythepuppydog.

Keeping glued to this forum
 
Any luck with your money?

They are ruining peoples lives, I cannot believe people can be so low just to line thier own pockets, Im glad I only invested the minimum with the broker they made me go with that I lost.

Today Matt Travis on his facebook is now saying he will make 9 millionaires with people who have £50,000 in 18 months. It's absolute SICK!!! and how laws allow this to continue, they will never see that 50k again, let alone be a millionaire.

No point talking about the signals they are 50/50 at best, and the good days we did have was the days everyone posted screenshots, it's so messed up. If 1 bad comment gets posted it's instantly deleted so obviously it always looks overwhelmingly positive.

Screeshots are always mobile bloody phone, no proof of real/demo, and 90% of the time when Matt posts a winning trade of something stupid like £60,000 overnight, it was never a signal sent to us. My guess is he just opens 2 demo accounts buys on one, and sells on the other in the same currency pair, then simply wakes up and posts a screenshot of the winner. How anyone can determine if a business fund management is legit from mobile phone screenshots either deserve to lose money or just plain dumb, and I go with the latter, because no one deserves to lose money, because even dumb people like myself work hard to make our money. Then get it stolen off us from crooks like this.

The brokers they made me deposit with is 24fx, after my 1000 going no where, current balance 968 after about 4 or so months, I decided to withdraw. Withdrawal denied after deny after deny. When I first signed up they took my passport, my driving license, all the bills I can even imagine, proof through the roof, even my introducing guy to MTA said he will assure I have enough proof sent in before starting my apprenticeship. They do not send any reason as to why I cannot withdraw and also fail to respond to e-mails, any comment asking on any of the MTA reps facebook about this also get deleted.

It's absolutely disgusting whats going on here, and what makes it more annoying is the amount of people trying to get in, especially on this new "i will make 9 millionaires in 18 months" comment, people are going crazy, literally trying to chuck money at them.

Please, someone tell me how such a criminal organisation can go on for so long without even a whiff of legal interception, am I missing something here?

THEY NEED TO BE STOPPED!!!


So your nearly £1k down and you can't get your money back? Tried calling 24fx or just turning up at their office with your passport??
 
It's very interesting to see how MTA have made a U turn on their previous courses etc. The live 15k account already looks down. I hope this is the proof that stops other people going through what annoyedtrader went through.

I would love to see the evidence of some people dishing the inside info donnythepuppydog.

Keeping glued to this forum

I know that the general consensus of the forum is that MTA make unsubstantial claims and are "scammers" in the industry. However, the account was 1.1% up at the end of August and it's 3% down just 1 week into September.

Best to review at the end of September as 1 week is not a large enough data sample to draw up conclusions.

The full review will be on the 90 day period.

Let's see what happens.

P.S. If you want to follow along daily, I'm posting screenshots each day to the trading diary FB page.

Go here, and like the page to keep updated.
 
I funded an account and gave them access at the beginning of August, not today.

Apologies, that wasn't clear from my previous post.

Yes, the account has just £15k in it.

They would need to be regulated to receive funds from me and trade them under their own name. However, they never actually receive funds. They just login to my account and trade it as a service offering. My terminology may not be 100% on point with the word "service".

Happy to provide the contractual agreement they asked me to sign if that helps?

to trade your account you will need to have signed a LPOA with the money manager. This will permit them to be an authorised trader on your account which will enable them to place trades but not move your money. The brokerage would not allow any one to trade the account that wasn't either the account holder or an authorised trader with a power of attorney. Anyone can trade for anyone you don't need to be regulated unless you are doing it for financial gain. A brokerage may decide they can pay a spread rebate to an unregulated manager for the trades they execute but the conditions on the account must not be worst for the client, ie, the money manager should not widen the spread to receive a bigger rebate. The brokerage will not/ must not share any client losses with unregulated introducers. Unregulated money managers often use the 'friends and family' method to trade for other people but this will not alter the fact that if they are unregulated they cannot earn anything more than a percentage of the standard spread and only from people that have signed a 'friends and family' form confirming the status of the relationship . Under any other circumstances a regulated brokerage would knowingly be assisting an unregulated entity to carry out a service that requires regulation and that would mean big trouble for the brokerage.
I would not recommend you give people access to your account passwords in order to trade your account. It is a back door way of doing things, it isn't legitimate and it isn't the way professional money managers will behave.
 
It'll be very interesting to follow the progress over 90 days. I'm not denying that it's possible to earn what they claim, but they aren't as good as they make out to be. I don't know of any funds that are up after 3, 6 or 12 months. False advertising and Matt Travis' ridiculous Fb marketing and videos has "wannabe rich kids" running in his direction.
 
i know two people on his course, so I already know he talks out of his ****.

a couple of weeks ago one of the USD signals lost and they told everyone it's because an oil pipeline blew in IRAQ.

O ye if you move to silicon markets you get a free trading day with MTA, would love to be a fly on the wall.
 
Look at that, what a surprise, MTA and Matt have been quiet for some while now, while they are losing lmfao, of course why shout when you are a loser.

We can tell because the great person who is doing the live trading diary, and kudos to you my friend for revealing the scam. We can see on there that the last days have all been losers, now they are not trading at all, what's the matter fear hitting you because of a losing run.

Bunch of total scammers, keep it up mtaliveupdates.
 
It seems that users are unable to get their funds out of 24FX, and have been asked to join Silicon Markets...
Silicon have provided no information to a lot of people yet - and we've already been told to avoid Silicon Market's already...

I've read that this is due to Matt's FCA approval being rejected, any question presented to them regarding this, you are then blocked.

Their latest app, yes - they have 2 - is just the webinar that they show to everyone... They are charging £39.99 per section! This is freely available via MTA's own Vimeo site.

Check the link here: https://vimeo.com/117579177

MTA claiming that their apprenticeship is free, is incorrect. MTA/Matt receives referral bonus for you joining their broker of choice via their link, and receives a percentage of your profits overall. You also have to pay for their app, which is £50 - and around 1000 people, is a considerable amount of money.
 
Someone in my group emailed Silicon asking what's the hold up, and was informed of the above.

More recently:

We have had to cut the agreement with Silicon due to a disagreement.
They wanted to up pip sizes due to volume of clients we bought in and can no longer accept anymore clients.
Therefore Mike and I have managed to secure an agreement with a top 3 broker in UK.


And having checked my email, I've got something from Silicon Markets stating the following:

Dear Trader

We thank you for your application to open an account with Silicon Markets.

Unfortunately we are unable to continue with your application due to the contractual agreement between ourselves and the referring party being terminated.

We apologise for any inconvenience caused. Should you have any questions, please do not hesitate to contact us at [email protected] or +44(0) 203 757 6345 for further information.

Kind Regards,
The Silicon Markets Team



It's not looking good for MTA.
 
Did MTA actually admit that he got his licence rejected. I'd love to see how they dressed that one up. Maybe brokers just don't want to be associated with them
 
MTA did not admit it, just that they didn't agree on some terms...

I said in a previous comment I was surprised they're going with an FCA regulated broker. You're right it's not looking good for them. Maybe they'll re brand again
 
So MTA have blocked people on Facebook etc when they ask what the hold up is of them asking for their own money? If so not good.
 
Top