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SCAM MINDENGINES OR WAS MATRIX TRADING SOLUTIONS


http://www.ripoffreport.com/reports/ripoff188072.htm


http://www.ripoffreport.com/reports/ripoff228608.htm


DONT BE A VICTIM!!!!

IF YOU HAVE BEEN A VICTIM WITH MATRIX TRADING SOLUTIONS OR MINDENGINES PLEASE RESPOND TO ME. I AM TAKING THESE TO COURT AND WOULD LIKE AS MANY EX TRADERS FROM THEM AS POSSIBLE TO GET THEM OUT OF BUSINESS AS SOON AS POSSIBLE.
hotfuture99: Are you Edward or Roger? Which of those 2 reports is yours?
day trading i am none of them i am filing a law suit against them and i personally can't disclose my name unless they are a client who has traded with them. This is just an example of 2 clients who have gotten burnt and scammed by them. If you check robert sorcinis background as well as steve symons you will find out how they have been involved in fraud in the past.
Good luck hotfuture99, I hope you manage to find a satisfactory resolution to this. I assume that you are looking for others to pursue a class action suit? From reading one of the reports it looks like it would best be led by someone residing in California as that is where they are based.
I have no idea if these "systems" have any value or not, but I doubt it. That being said, any mechanical system will by nature have huge drawdowns at times as most are either trend following or volitility based. So even if they test out to being profitable over a period of time, there will be times when they lose money hand over fist for extended periods of time. I realize this is not even the issue here, as the two reports state that people did not even use the system, but simply wanted to cancel their orders. This sounds like just another high priced scam, and we can probably look forward to seeing these guys on late night TV under a different name sometime soon. I do have a suggestion though: If I understand the "rip off reports" correctly you have to set something up with a broker to use this system...while people who operate companies like this are not subject to licensing and reglation at this time by the CFTC or NFA in most cases, the brokers who accept these systems and trade them for their clients are.......a back door into putting a hurt on these guys if they are in fact scam artists would be to find out who these brokers are and report them to the NFA, the CFTC, the Exchanges, and the FCMs that clear their trades. While they could probably just repackage these things as indicator systems this would at least get under their skin short term. Another avenue would be to find out what data feeds they use and contact those providers, they may not care as they are in business to sell data, but reputable companies do not want to be associated with this kind of crap. I have less sympathy for people who buy systems find out that they don't print money day after day then I do for people who seem to just want to cancel an order without ever touching the product after being pressured by boiler room style tactics. However, these guys sound like bad news. Also, why is it all the shady brokers and sytem vendors always seem to be from Southern California or South Eastern Florida? They must have some laws that protect these jerks in those states, or swindlers just like nice weather.
pem06081971: I only realized after I read your comment that almost all the CFTC cease and desist reports that I read are from those 2 states (CA and FL). It hadn't occurred to me until you mentioned it.
hotfuture99,

Apparently I have been ripped off too. I am a victim and I am pissed!

Somehow these idiots got my name and phone number from somewhere and called me on the phone.

They presented a lot of proof of who they were and the results they had.

They even showed me their Better Business Bureau report which was spotless.

The big selling point for me was that if the system did not perform that I could always fall back on the guarantee. The person I talked to on the phone stated that the system would turn a profit over and above all costs including the system purchase amount or they would refund my purchase cost.

I inquired about the slippage since I had not heard of that. They assured me that slippage was minimal and would usually be less than .25 of a point but most of the time there would be no slippage.

Slippage and commissions were not included as part of the guarantee, but I felt that I understand the risks as they were described to me.

I paid my money, opened a brokerage account with Striker and then proceeded to watch my money disappear faster than I thought possible.

It was apparent after the first 5 months that I would be able to exercise my right to a guarantee but I had to wait until the end of the 6th month to claim it.

Much to my surprise, when I attempted to claim my guarantee, I was told that the system had made a gross profit of $75 and that I was not due a guarantee.

My trading account had dropped from $5000 initial balance to $2,600 and that was only because the broker at STriker talked me into trading 1 contract at a time.

I don't think that Mind Engines should be able to claim a profit on trades without including commissions and slippage. It is misleading and tricks new traders into thinking the system makes money when it doesn't.

I have been swindled and I'm sure others have been too.

I am not willing to sit by and let other people get taken advantage of like I have been and I want to get the refund that I am due or I want someone to account for their actions.

Lets get other traders together and get these guys...to stop them from taking advantage of other people.

Let me know what we need to do.


Bret
quote:
Originally posted by hotfuture99

day trading i am none of them i am filing a law suit against them and i personally can't disclose my name unless they are a client who has traded with them. This is just an example of 2 clients who have gotten burnt and scammed by them. If you check robert sorcinis background as well as steve symons you will find out how they have been involved in fraud in the past.

I have also been scammed by Matrix Trading Solutions.

TH
Wisconsin
quote:
Originally posted by hotfuture99

http://www.ripoffreport.com/reports/ripoff188072.htm


http://www.ripoffreport.com/reports/ripoff228608.htm


DONT BE A VICTIM!!!!

IF YOU HAVE BEEN A VICTIM WITH MATRIX TRADING SOLUTIONS OR MINDENGINES PLEASE RESPOND TO ME. I AM TAKING THESE TO COURT AND WOULD LIKE AS MANY EX TRADERS FROM THEM AS POSSIBLE TO GET THEM OUT OF BUSINESS AS SOON AS POSSIBLE.

I have also evidently been skammed for $5995.00 and would like to join you in your law suite. My problems are with MindEngines and my six months started on
10/1/06. I tried to cancel before that date and did not open a brokerage account
but they would not return my money. They wanted to see if the system Centurion made money at the end of six mos. Their figures at the end of March show they had a profit of $100 but the Striker figures show a loss of $1000. I have been working with Robert Stoltz (lawyer) and Oliver Queens @ MindEngines. As soon as they showed a profit in March they stopped trading! for that month.
Please let me know if you are making progress in getting a law suite set up.

Ralph
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