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  • CFTI TRADING, Ward Chambers - CFTI TRADING, Ward Chambers False advertising- Poor program- makes $ by teaching not trading- teacher is not knowledgeable on subject Thornhill | #19158

Complaint / review / scam report
CFTI TRADING, Ward Chambers
CFTI TRADING, Ward Chambers False advertising- Poor program- makes $ by teaching not trading- teacher is not knowledgeable on subject Thornhill

There was little guidance or material covered on basics about futures contracts and how they work. It was a do it yourself program and there was a lack of introductory information. I learned everything I know about futures contracts and options on futures from books I received from my broker, websites where I found free tutorials and information. I recall it was mentioned that the first week would be a review of basic things but we actually never did review basic things about futures.

I had arguments with Mr. Chambers due to the fact he did not know the difference between a straddle and strangle, short puts, european style options. I had to clarify after he tried to prove he was right. Being someone who has been trading for over 10 years, including 1 as a broker, I would expect Mr. Chambers to know that. Should I be paying $3400 to someone who doesn't know basic trading vocabulary?

One of the free webinars of Mr. Chambers I attended someone asked if he spread traded and he specifically said, " don't spread trade! " I was curious as to what kind of options trading Mr. Chambers did and continued to participate in the free webinars, but I was again surprised when the only strategies we talked about were spread trades.

In the trade strategies section of the course outline, it said we would learn how to use applied day trading strategies for a 3%-5% target return a month. Applied swing trading strategies for a target 5%-7% a month. Yet we talked about swing trading very briefly and then Mr. Chambers went on to say you will lose money if you do this so don't do it. Why would this be added to your arsenal of strategies and why offer it if you are not going to discuss it and you don't think people should apply these strategies? Day trading was never discussed.

I also received an email from an associate of Mr. Chambers, telling me that clients had reported earning $3600 during the program based on a 10K account. Now for a company who clearly says that past performance does not guarantee futures success this is a poor sales tactic. It is a misleading and dishonest way to sell.

Furthermore, when I asked for recommendations for the CFTI Trading program, Mr. David Allan Ellis was one of the people that wrote to me recommending the program. It was quite a surprise when I found out that Mr. David Allan Ellis was also Mr. Chamber's lawyer. This is a clear conflict of interest and also a very misleading way to sell as his recommendation has very little credibility.

After asking for a refund which I am entitled to having stated my case and as an act of simple honesty Ward Chambers agreed to a 50% refund. However, now I have to deal with his lawyer who doesn't want to answer my emails and thinks he has some say in the matter.

This program is a spread trading program. Nothing else. The training is poor and rushed. There are many better spread trading courses around. I doubt that this guy makes any money from trading. He claims to make over 200K a year but if you do the math you will see he makes that just by teaching people who are willing to pay his 3500$ fees.

The strange thing is he is recommended by trade navigator and Alaron Brokers but of course he brings them clients so why not recommend him. This is a poor investment and please think twice before you begin believing all the hype in his program. If you take those free Psychology seminars that he gives through many trade sites you will notice they are all the same. The same information with a different title.

There is nothing about trader psychology in these classes which is one of the most important areas in trading. The classes basically give out a bunch of statistics that appear to be pulled out of a hat because there is no sign of any real research and they focus mainly on selling this program which if you have not realized by now is NOT worth it!
Author: Contact with Author

Offender: CFTI TRADING, Ward Chambers

Country: Canada   Province: Nationwide
Address: 1045 CENTRE STREET SUITE 438

Category: Education & Science


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