Mike Douglas and MTA Online SCAM
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InTheKnow22
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Try plotting the winning trades Matt Travis posts on social media, it is amusing. Times and prices do not match real market data.
Sometimes they are close, sometimes just the time is out (delayed demo perhaps), sometimes entry an exit times are swapped, other times its way off.
Always check peoples claims !!!!!!!!!!
It has been well proven Matt Travis has ripped off other peoples data and publicity material, so I don't expect anyone is foolish enough to believe his posted claims, but I recommend a look cos they are amusing
Sometimes they are close, sometimes just the time is out (delayed demo perhaps), sometimes entry an exit times are swapped, other times its way off.
Always check peoples claims !!!!!!!!!!
It has been well proven Matt Travis has ripped off other peoples data and publicity material, so I don't expect anyone is foolish enough to believe his posted claims, but I recommend a look cos they are amusing
Hi,
I am new to this site and stumbled across it after spending hours on Google looking for reviews on MTA and their wealth management.
Basically I have been following them for some 6 months and I understand the negative reviews around the 3 day forex courses they provide, however my questions and the element I would like to get advise on is the Wealth Management.
They get you to open an account on 24FX and deposit the monies and they will trade for you for a fee of 50% of the total profits.
Can anyone tell me if they have successfully done this with them and if this is not some sort of scam.
Any advise and help will be much appreciated.
Thanks
InTheKnow22
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It is a scam
Looking back over the posts on here it is clear that Matt Travis and Mike Douglas are not trading experts, it has been proven that they simply copied information and forecasts from other sites.
The company address is a PO Box number which means they can not be traced or sued. No way to recover your money should you need to pursue legal matters.
They are most likely getting commission for signing up people to a broker (very popular with scams) so if you win or loose they make money from you.
Now the best bit, you say they trade for you and get 50% of the profit. Seriously, who is dumb enough to fall for that. Basically you are underwriting their trades and covering any loss. They are trading risk free using your money. It is a big fat scam!
They probably pay $100 per month for someone else's trade notifications and trade risk free using those trade calls.
I am guessing their customers are all new to trading and easy to fool.
Looking back over the posts on here it is clear that Matt Travis and Mike Douglas are not trading experts, it has been proven that they simply copied information and forecasts from other sites.
The company address is a PO Box number which means they can not be traced or sued. No way to recover your money should you need to pursue legal matters.
They are most likely getting commission for signing up people to a broker (very popular with scams) so if you win or loose they make money from you.
Now the best bit, you say they trade for you and get 50% of the profit. Seriously, who is dumb enough to fall for that. Basically you are underwriting their trades and covering any loss. They are trading risk free using your money. It is a big fat scam!
They probably pay $100 per month for someone else's trade notifications and trade risk free using those trade calls.
I am guessing their customers are all new to trading and easy to fool.
InTheKnow22
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The Instagram sales pitch
A closer look
The con trick
The conclusion
A closer look
The con trick
The conclusion
Anonymousone
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Any guys got any updates on this thread?
Interested to hear more on these guys, relentless plugging on social media showing supercars, business travel to Dubai, Vegas.... they seem to be getting the dollar rolling in.... and countless support by many individuals supporting their course showing pips of profit. Too good to be true?
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donnythepuppydog
I find it amusing that I blow kingtrader7 out of the water proving him wrong with evidence and ask for an allegations to be withdrawn as I proved beyond doubt that I have not lied, now a new person appears to accuse me of slander and a personal issue.
OK lets start with the accusation of slander. MTA Live is not registered in the UK, when they were trading as Mastery Trading Academy they were a UK registered company. Then Mike Douglas and Matt Travis split away to become MTA Live. If any of that is not true please let me know. Mattjs if MTA Live are registered in the UK or indeed as a company anywhere in the world please provide details or provide an apology to me.
Now to explain where the negativity comes from ... or should we just be clear and say facts.
A number of the people involved in setting up Mastery Trading Academy launched a vicious attack on her against another company they used to work for and they their company appeared.
A number of the publicity pictures used by Mastery Trading Academy, MTA Live and Mike Douglas on his Facebook page are from another company and nothing to do with MTA Live or Mastery Trading Academy.
See Proof here:http://www.trade2win.com/boards/edu...tery-trading-academy-swindle.html#post2350970
MTA are making out that if you take the course you will be making 3-5% every day and they are blasting social media with all sorts of questionable information to try and back it up. For example in Matt Travis's own twitter posts it can be seen he uses Demo accounts and loses an average of £1000 per day, but flags up winning trades and claims great success.
See proof:http://www.trade2win.com/boards/edu...ry-trading-academy-swindle-2.html#post2357476
If clients complain about not making 3-5% they are told its their own fault and that they should pay for more.
Proof:http://www.trade2win.com/boards/edu...ry-trading-academy-swindle-4.html#post2370584
I could go on, I haven't even mentioned forcing people towards a broker they get commission from, virtual offices, loosing money during a course and claiming markets were closed ... but I think I have made my point.
Mattjs, it is not something personal, not jealousy and certainly not just negativity. These guys are using lies, tricks and mis-direction to make money out of people and anyone thinking about giving them money should be aware.
If Mike Douglas or Matt Travis are great traders and making loads of money from trading, why do they need to tout a course with questionable claims, why do they need to use lies and tricks to promote it and why do they need to direct clients to brokers so they get commission.
I have challenged MikeDouglas previously to post a trade plan of 4 or 5 trades before any position in entered, then we will see if he is any good. Its easy during a course to focus on a winning trade and ignore the losers, as yet he has failed to meet the challenge, I wonder why
A few things about MTA Live:
1. MTA make money from clients' losses (50% has been suggested by numerous sources... including ETX Capital, their previous broker) AS WELL as referral fees from their new broker - hence the switch over (oh no, it wasn't for your benefit at all).
2. It's arguable that they send poor signals now and again to personally profit.
3. Most of the "team" are paid for their services as well as fund management. i.e. Being his puppies, making phone calls, doing some webinars, promoting, etc.
4. Matt Travis trades demo accounts. The "£5 million fund" isn't a fund. Screenshots have been mistakenly posted with "demo account" visible on them in the past.
5. Most actual funds are down.
6. Any funds that Matt Travis takes on are usually passed over to Mike Douglas when Matt's blown 10-30% within a matter of weeks. Mike usually doesn't make much either over a period of several months.
7. When clients do have a decent day, everybody is begged to comment on Matt's Facebook statuses and to tag the MTA team in their own Fb statuses. "Prizes" are also offered for the best comments, and so on.
8. Nobody EVER sees losses.
9. Their signals have a 50/50 success rate at best.
10. Most apprentices are down or even on their accounts after 6 months (if they're still trading), but suck up to Matt and the team on the good days in the hope that they will make it as a Fund Manager.
11. Mike Douglas usually plans both long and short trades on his weekly webinars. The likelihood is that at least one of them will do well. I'll let you guess which one they go on and on about all week.
12. Matt Travis doesn't stick to risk management 90% of the time. Many clients and fund managers don't either, hence showing the big wins but not ever showing any big losses (of which there are many).
13. Their new broker, 24FX, have been fined for malpractice in 2016 and aren't regulated. They pay MTA, hence the switch over.
14. Matt Travis deletes any and all even slightly negative comments on social media. Most people end up getting blocked if they question him (or they revert to personally attacking the individual for not being sold on the empty hopes and dreams).
15. When Matt Travis loses people's money or people feel even ever so slightly let down or scammed, they're ignored and usually blocked.
16. Matt Travis' materialistic lifestyle is all a front. Rented house, cars driven by his puppies, girls who want money, and people he literally buys. It's sad, really.
I think that just about sums it up. Anybody who backs MTA are either living in hope that things will come good or are being paid by Matt Travis.
Over and out.
Anonymousone
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Thanks donny for the update. Have you ever used MTA or even worked for them? Sounds like you know a lot! From looking at social media everything seems fake.
It seems they have gone from selling courses to an apprenticeship to make their money. One would presume to increase numbers pumping money through their broker.
It seems they have gone from selling courses to an apprenticeship to make their money. One would presume to increase numbers pumping money through their broker.
annoyedtrader
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MTA Live need to be stopped!!!
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!!!
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!!!
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donnythepuppydog
I have experienced their course, yes, but also told everything by several reliable inside sources (with proof). Their strategies are basic and their support is terrible.
Mike Douglas is not a "forex genius". He's a nice enough guy but of course part of the fraudulent outfit that their company is.
No reputable UK broker wants to deal with MTA which is likely one of the main reasons they went with 24FX.
In fact, I believe ETX Capital have taken legal action against MTA too which is either in the past or possibly ongoing.
Matt Travis is good at playing with people's emotions when it comes to money. A good day here and there and everybody raves about MTA and acts like Matt is God. He loves it, as that's exactly what he wants to please his ego and narcissistic personality. He says "JUMP!" and they say "How high?"...
All to be a Fund Manager and put their hopes and dreams in Matt's hands, until they learn the truth or he blocks them if they question him or anybody within MTA who are so far up his backside that they couldn't possibly think for themselves.
Mike Douglas is not a "forex genius". He's a nice enough guy but of course part of the fraudulent outfit that their company is.
No reputable UK broker wants to deal with MTA which is likely one of the main reasons they went with 24FX.
In fact, I believe ETX Capital have taken legal action against MTA too which is either in the past or possibly ongoing.
Matt Travis is good at playing with people's emotions when it comes to money. A good day here and there and everybody raves about MTA and acts like Matt is God. He loves it, as that's exactly what he wants to please his ego and narcissistic personality. He says "JUMP!" and they say "How high?"...
All to be a Fund Manager and put their hopes and dreams in Matt's hands, until they learn the truth or he blocks them if they question him or anybody within MTA who are so far up his backside that they couldn't possibly think for themselves.
If you're reading this thread you are interested in learning about making money trading the forex markets. You have also clearly been exposed to the dark arts of social media advertising at its worst.
A few words of advice:
1. Ignore anyone who tries to sell you forex training, signals, a method, a strategy or an automated system. You don't need to pay for anything..... it's all out there.....free..... on the Internet. If you insist on buying your education then just buy some books.
2. Research basic support and resistance
3. Research basic candlestick patterns .... don't worry there aren't many to learn... pin bars..... outside bars..... inside bars..... those should get you started
4. Understand that trading with the trend is extremely important
5. Don't try to pick tops and bottoms.....
6 research money / risk management and exercise this religiously
7. Keep your charts free of lagging indicators...... they mess with your psyche
8 be mechanical
9 trade 1hr charts and above
10 do this on demo accounts for 3 months straight or until you feel really.... really confident (may take years) that you "get it" - ie you are trading consistently and your demo account is increasing in value accordingly.
11 accept the fact that you will lose often.... every business suffers drawdown..... even apple appear to have a fair issue with potential drawdown on their cash flow as we speak so don't feel bad about it.
12 trading simple reversal patterns with the trend is really the safest place to begin your trading experience. You will learn to keep it that simple. Simple is best. Your edge can be defined by following the "trend is your friend" mentality
13 if you feel the urge to pay someone to make the process easier / quicer then go and sit in a dark room for a while and consider the fact thathat you might be being lazy, greedy, desperate......? Then think that you will almost certainly lose by following these emotions..... then go back to practicing and researching.....
14. Research order flow and management of stop losses.
15. Accept the fact now that there is no perfect trading methodology.... you should just aim to be right more often than wrong. Weight the game in your favour.
16 give yourself a pat on the back if you do 3%profit or more per month consistently...... you are doing really well.
We've all been there........... paying someone else to teach you something you can learn better yourself for free with just a little application is madness. Fight the urge. DIY! I don't fancy lining the pockets of others unless the are seriously needy..... which this lot clearly aren't - judging by the watches, the fast cars, the fancy offices, the trips away, the clothes, the champagne, whatever else....
Good luck.
A few words of advice:
1. Ignore anyone who tries to sell you forex training, signals, a method, a strategy or an automated system. You don't need to pay for anything..... it's all out there.....free..... on the Internet. If you insist on buying your education then just buy some books.
2. Research basic support and resistance
3. Research basic candlestick patterns .... don't worry there aren't many to learn... pin bars..... outside bars..... inside bars..... those should get you started
4. Understand that trading with the trend is extremely important
5. Don't try to pick tops and bottoms.....
6 research money / risk management and exercise this religiously
7. Keep your charts free of lagging indicators...... they mess with your psyche
8 be mechanical
9 trade 1hr charts and above
10 do this on demo accounts for 3 months straight or until you feel really.... really confident (may take years) that you "get it" - ie you are trading consistently and your demo account is increasing in value accordingly.
11 accept the fact that you will lose often.... every business suffers drawdown..... even apple appear to have a fair issue with potential drawdown on their cash flow as we speak so don't feel bad about it.
12 trading simple reversal patterns with the trend is really the safest place to begin your trading experience. You will learn to keep it that simple. Simple is best. Your edge can be defined by following the "trend is your friend" mentality
13 if you feel the urge to pay someone to make the process easier / quicer then go and sit in a dark room for a while and consider the fact thathat you might be being lazy, greedy, desperate......? Then think that you will almost certainly lose by following these emotions..... then go back to practicing and researching.....
14. Research order flow and management of stop losses.
15. Accept the fact now that there is no perfect trading methodology.... you should just aim to be right more often than wrong. Weight the game in your favour.
16 give yourself a pat on the back if you do 3%profit or more per month consistently...... you are doing really well.
We've all been there........... paying someone else to teach you something you can learn better yourself for free with just a little application is madness. Fight the urge. DIY! I don't fancy lining the pockets of others unless the are seriously needy..... which this lot clearly aren't - judging by the watches, the fast cars, the fancy offices, the trips away, the clothes, the champagne, whatever else....
Good luck.
D
donnythepuppydog
Even the Fund Managers who trade with the group don't do what they tell the group to do. Mr Wardell takes trades that he doesn't tell the groups about, exits trades before telling everybody else to exit (sometimes not mentioning it at all), has different stops and targets and oftentimes just does things he says not to do and doesn't do things he advises to do.
The rest are the same. Most of the FMs who are around Matt Travis a lot don't trade much anymore.
Many people paid for the apprenticeship and the Trader's Lounge for almost a year and then they made both free for everybody. Hardly fair on those who paid £200-250 a month for 9-10 months.
It's a shame that the 100 or so suckers who start every month will only learn about how MTA Live really work when maybe it's too late. Good business model and potentially a great business, but ran by greedy, arrogant guys who think they are untouchable. Vulnerable market, younger people who want overnight earnings, and they know how to take advantage.
The rest are the same. Most of the FMs who are around Matt Travis a lot don't trade much anymore.
Many people paid for the apprenticeship and the Trader's Lounge for almost a year and then they made both free for everybody. Hardly fair on those who paid £200-250 a month for 9-10 months.
It's a shame that the 100 or so suckers who start every month will only learn about how MTA Live really work when maybe it's too late. Good business model and potentially a great business, but ran by greedy, arrogant guys who think they are untouchable. Vulnerable market, younger people who want overnight earnings, and they know how to take advantage.
annoyedtrader
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God this Matt is the kind of face you just want to punch, with his smug face, his stupid undercut slicked back hair and constant materialistic dress sense.
You really have to watch his facebook to see the unbearable amount of arrogance, he literally says he can make you a millionaire, he does realise forex is a zero sum game right? I guess his useless herd of sheep followers don't and believe forex prints extra money, idiots.
You really have to watch his facebook to see the unbearable amount of arrogance, he literally says he can make you a millionaire, he does realise forex is a zero sum game right? I guess his useless herd of sheep followers don't and believe forex prints extra money, idiots.
I'm guessing you will not be leaving a positive review then?
https://itunes.apple.com/gb/app/mta-live/id1144011535?mt=8
D
donnythepuppydog
Well, well, well... Mr Travis has asked everybody to join another broker today, citing that 24FX have changed their policy so that the minimum pip size is now £1 or 0.10 lot size.
Now there's been no confirmation of this from 24FX and no emails sent out to their clients about this. Is this another ploy from Matt Travis to have all MTA clients join another broker so MTA receive more referral fees? Sounds likely. How do people not see through this?
Matt has said that MTA have used Silicon for their bigger funds. I wonder why they didn't use 24FX? Very fishy indeed.
Also, £50 for their app is a joke. But then it's not surprising... Anything to rinse their clients who they DO NOT care about whatsoever.
Now there's been no confirmation of this from 24FX and no emails sent out to their clients about this. Is this another ploy from Matt Travis to have all MTA clients join another broker so MTA receive more referral fees? Sounds likely. How do people not see through this?
Matt has said that MTA have used Silicon for their bigger funds. I wonder why they didn't use 24FX? Very fishy indeed.
Also, £50 for their app is a joke. But then it's not surprising... Anything to rinse their clients who they DO NOT care about whatsoever.
D
donnythepuppydog
It's all for the referral fees. MTA don't care which brokers are actually the best, just which ones will pay them the most.
24FX haven't changed anything so Mr Travis is telling porky pies... Again.
