This is a company that provides the customer service for a signal service for Forex trading. It is a subsidiary of a company based in Cheyenne, Wyoming called Advisory trading and they also control another company called the fxwinner (www.thefxwinner.com)
Advisory Trading does the marketing, FXWINNER does the signal service and Diversified Trading Strategies does the customer service.
They have been falsely marketing their service claiming a 10 year track record exceeding 80% on average and a no loss warranty and a double your money warranty, if not, they claim that they will refund your full subscription fee, if there is a loss or provide a another year's service for free valued at $2500.
The subscription fee paid upfront is $5000. The terms and agreement do not state whether the subscription costs should be factored in to calculate the profit and loss, so even if $1 is made, they consider that that the program is profitable. The marketing team uses this ploy to sell the service. This is not disclosed in the terms and agreement.
So in this case, you are basically paying $5000 to make $1.
On my real account, my net loss after paying the subscription fees was $4600. Moreover there were no signals for 3 months proving that there was no strategy and that all they were doing was to collect the subscription fees and do nothing.
For the return was 4%, compared to the 80% return they advertised for the last 10 years.
The terms and agreement for the next year's subscription service for free valued at $2500 is also vague. It does not say that there is not a cash option that can be taken if customers are not happy with the service.
Moreover, the website (www.thefxwinner.com) had a 10 year track record displayed and it has been removed in the last few months.
The terms and agreement claim to provide extensive training and a software package but none has been provided.
I have attempted to talk to them over the phone and e-mail but they are hanging up the phone or not responding to e-mail. I plan to pursue this in small claims court.
These are the people involved in the scam.
Ludovic Cotinho, managing director, based in Cheyenne, WY (307) 222 6357
Jim Hilliard, in charge of marketing. Based in Carlsbad, CA (307) 222 6361
Stephanie Johnson, admin director in charge of customer service in Carlsbad, CA (760) 444 0604
Mike Mcguiness, principal of Diversified trading strategies in Carlsbad, CA
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