Matrex trading is in the bussiness of computer trading of commodies. It is a smart system that will decide when to buy or sell. The right to use there system is at a cost of $5000.00. Man Trading is the brokerage firm that they use.
Upon calling me, I checked it out for a few days and everything seem like it was on the up & up. They showed me past records of the past three years. What they showed me was not out of line and they said it was guaranteed to show at least a profit of one
dollar in seven month. They said slipage and broker fees did not count.
What they showed me would be a nice profit. They said the gaurantee would be applyed to what there records showed. What they did not tell me was that there records showed large slipage that would be to there faver
At the end of seven months my records showed a loss of about $2500.00, the broker fees added up to about $1000.00 of this.
I called in my gaurantee and they said that there records a profit $50.00 for me. They said the difference was in the slipage.
I traded enough to know that slippage would not be that much. The way they wrote the contract is binding, but to show false slipage record would not be legal I don't think
Sincerely
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