I received a call with information about this black box system that claimed unbelievable results trading the mini S&P. The sales rep claimed 86% win - loss ratio over the last four years. According to him you can make a steady income with better than 10% profits per month. Rhe software was developed over several years and the development cost was several million dollars.
This guy was very smooth but several things besides the unbelievable profit figure made me suspicious. 1. He said that they could sell only up to 500 users of this increment of the software and they were up to 491 and expected to sell out that day. This is the type of trick to hurry someone to make a decision. 2. Another was that original buyers came in at $7500 plus a $229 per month service fee, however they would sell it to me for $6000. This was another come on. 3. He said that they had made a decision not to mail out hard materials and a prospective client could only view their website if they talked to an officer. Of course, none of their verbal claims are in writing which could come back to bite them. 4. I asked about which brokers they worked with since they claim not to be brokers but are selling the software. He mentioned that they work with two brokers but wouldn't or couldn't tell me their names.
I told the guy that I would talk to the company officer. Sure enough the so called officer called a few minutes later and told me how to get onto their website which required a user name and password. He showed me a spreadsheet which had "trades" over a 11 year period. Of course it showed unbelievable results even better than what the first guy told me. Again, several items were suspicious. One was that he said that these were actual trades. However they were not copies of brokerage statements and anyone could easily make a spreadsheet like that in an hour.
I asked him other questions and I seriously doubt from his answers that he was a former broker like he claimed. He apparently was looking for someone who was so impressed with their so called results that he would give them his credit information on the spot. I don't think that they want to give prospective clients time to search the web and read reviews such as shown on the complaint. The last question I had was that if the software was as good as they claimed, why didn't they the officers keep the black box to themselves and make billions of dollars trading it. He didn't have a good answer for that and then said he had to take another call and that another sales rep would call me to answer my questions. That was the last call I had from them.
Of course I didn't purchase it. Like the old saying goes, if it sounds too good to be true, then it is. Apparently other reports on this company shows the saying to be true.
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