This company will take every penny you have and be laughing at you the entire time. DO NOT fall into the same trap that I did.
Program Trading Solutions (PTS from here-forward) contacted me and told about a wonderful program called "Torsion", and how it would make 20% per month on average. I have traded options and derivatives for 20 years, so I knew the number was high, but not unachievable. The salesman told me that PTS offered a guarantee on results, and if I were not profitable after 6 months, 50% of my initiation fee of $5995 would be returned, and after 7 months, if still unprofitable, they would reimburse 100%. As it turns out, not so. Not even close.
Here are the tactics used by PTS;
1) The salesman calls you, tells you about the program, and demonstrates on line how the program will generate 20% monthly profits. At no time does she mention that these are "hypothetical" profits.
2) She then promises that if you lose even $1 after 6 months, PTS will reimburse 50% of your initiation fee, and 100% after 7 months. This, of course, is a great comfort to the buyer, since PTS pretends to stand behind their product.
3) If you choose to buy into the program, she will arrange to take your money. If you are a smart buyer, you will go to the BBB (Better Business Bureau) and confirm that they are a reputable firm. I did so, and they had no complaints at that time. (In the last 12 months, they have had 7 complaints, so it is not only me getting burned)
4) Another party calls you later, and has you go through an online document (and you will later find out that this is an online contract you are signing off on) They show you all the places you need to sign off, talk to you incessantly, and do not let you properly read and understand the contract, nor do they even tell you that it is a contract. While going through this contract, they are very distracting, to ensure you are not properly able to understand what you are signing. To make it worse, they never even send you a copy of the contract!
So... On with the story. I put up $5500 of risk capital, understanding full well that I could lose some or all of this money. After 6 months, they have lost $4900 of the original $5500 I put up. That's enough convincing for me. This wonderful program of their's actually sucks... It's a pig in lipstick.
I send them e-mails asking for a refund, make tons of phone calls. Everybody is busy, nobody can be bothered to talk to me. For 3 months this goes on. Finally somebody calls me, only to tell me that the program worked perfectly. The program did not lose money during the term of the agreement, and it is totally irrelevant that I lost $4900. At the end of it all, I am told that even though I lost $4900, the program worked and therefore I am not due any reimbursement of my $5995 initiation fee.
Long story short... I lost not only the risk capital, but the $5995, for a whopping $10895 total loss.
PLEASE... DO NOT make the same mistake I did. If you are considering investing with these crooks, RUN!!! They will LIE to you in order to get your buy-in to their crummy program, then MANIPULATE you into signing off on their contract, IGNORE you when you try to contact them, and finally CHEAT you out of every penny they can. Yes, I have been SCAMMED. Please do not let it happen to you. If I save one person from losing their hard earned cash to these guys, I will be one happy guy. I will be elated if I save 100's the headaches and heartaches I went through.
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