This post is the first of several I will post warning people about various investing software and website investing sites. These are the ones I have had experience with. All of them, with the exception of one, are bait and switch sales scams, in my opinion. They show you, in a 2 hr. Demonstration, and in a one or two day class, how great their programs appear. Then they tell you need to spend many thousands of dollars in training to be successful after you own any of their $3,000 programs.
They get you to invest approximately $3,000 to try their program for about 10 days at the 2hr. Demonstration. If you follow the return procedure to the letter you can get your money back in about 3 weeks. If letting them use your money for a month or so is ok with you then take advantage of their offers but make sure you follow the cancellation procedure accurately. You will get some valuable training, if you do, at a relatively cheap cost.
The worst of them, in my opinion, is GlobalTec Solutions with their software programs: 4X Made Easy, Options Made Easy, Wizetrade, and Commodities Made Easy. The main reason they are the worst is because they claim to provide technical and customer support, which is a total lie. Secondly their program is basic and inferior as I will explain later.
I first tried 4X Made Easy in October. I had to reformat my hard drive after their tech support people made it unusable. I could not get phone calls returned from their support. I had to wait 2 days for that then, and it is little if any better now. I submitted questions to their Talk Live instructor and got ridiculed. I managed to get a refund after the trial period by threatening to post information here, which of course I am now doing. The program doesn't work the way it is described in the tutorial. The tutorial is wrong in so many ways it is pathetic. If they can't get that right even, why would anybody trust anything in the program?
I am currently trying to use the program with a friend who owns it. I cannot get any support now, being told to get it from the user because I am not a currently registered user.in their 2 hr. Sales pitch, and in the one-day classes, they tell you can put the program on as many computers as you want but only one user can be logged on at a time. They tell you can have a trading partner attend the free classes and they will provide both technical and customer support for both. This is a lie.
Since October I have tried their Options Made Easy program twice, Wizetrade and 4X Made Easy again. I returned them all for the same reason, that being no support and being ridiculed. You cannot even sell the program to somebody else to use. They won't let you do that. If you don't find them useful you LOSE. You may be able to find somebody that wants to use the program and will do it with you, you remaining the owner. You may find somebody who will share the cost on that basis.
All of their programs are based on buying and selling pressure using a green and red line to track it in different time periods. That is totally inadequate and any professional trader will tell you so. You have to use charts to track trends and know support and resistance. Buying and selling pressure is only one confirmation tool, which is all these programs are good for.
At $3,000 per program, plus $100 per month for the data feed, and $100 per month for their tracking program (s) it gets a bit expensive. Not for all but for me it is. Just be aware of the total costs. That equates to more than $5,200 for the first year for 4X Made Easy alone.
Another company, I have experience with, that I will post about later, has a program that does what it takes 3 of GlobalTec's to do, and it has built in graphs, charts and confirmation tools needed to confirm trades. To do that with GlobalTec's you have to get the charts and other confirmation tools someplace else. The other company's program is the same price as any one of GlobablTec's programs, namely $3,000 with a data feed costing $100 per month maximum.
GlobalTec promotes a broker actively, named FXCM, who has been accused of spiking to take out stops and many many people have at least documentary evidence to demonstrate that, and at least one broker/investor has said he was shown a broker software module to do just that. If you do buy the program do not use this broker as you will be BROKER. 95% of the people getting into this business, using these kinds of programs, fail losing their brokerage account amounts and give up. That is a very high figure so make sure you know what you are doing before using real money no matter how you go about it.
My advice is simple. Try them if you want to learn some techniques of trading, and are willing to let them use your money for the time required, but do not keep them because of the problems involved. If you want any follow up documentation I will be happy to send you the emails as proof. What these people are being allowed to do is criminal, in my opinion.
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