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Ultimate4Trading

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  #1 (permalink)
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For those of you who have a Yahoo! email address (and possibly hail from the UK), you most probably will have seen in recent months an ad/commercial on Yahoo! UK's frontpage that looks like the pic attached.

There may be variations on the theme but the message is clear: Wall Street is furious over a trading algo that has been taking 'the country' by the storm.

Well, I must have been asleep at the wheel for all this time because I haven't heard those big Wall St. bankers when being interviewed claiming how this fantastic super algorithm has ruined their client's trades and has cut their own bonuses in half.

So how do they do it?

Well there's the article introduction, "4 UK Students prove their Crazy, Money-Making System, worth Millions, on live TV". So we have apparently 4 snotty kids-turned geniuses who have found the Holy Grail. Great. Let's hear it.

There's the "interviewer", "quizzing" one of the kids about the "accuracy rate" of their algorithm: 75%. The kid places a few "live" trades on their system on 3-4 different asset classes and voila'! After a mere 60 seconds the account has grown by 120 USD. Their secret? After having lost money dabbling with trades, one of the kids came up with a phenomenal idea: they decided to combine their passion for trading with their expertise in programming and came up with a successful algorithm. Wow.

First off, bravo. What a fantastic idea. I bet nobody's ever thought about that before.

But wait, hear this. They are releasing this algorithm to the public for free. Yes, you read correctly. Why?

Well they thought long and hard about this. They release it for free so that people, when they have made some money, can donate back (presumably to them) what 'they felt was appropriate' (!).

And of course, it's free, one of them warns, so there will be a 'limited number of positions available', so best to get on board, quickly. Oh. Wait. He's been saying that for months now.

But wait. If they've decided to release it for free, why would there be a 'limited number'? Software is software right? Nobody knows.

The story does not end here. By going to YouTube and searching for 'ultimate4trading' I am bombarded with videos that seemingly provide a review of the service and asking 'is this a scam'? But all the videos are actually people (paid actors I would bet) endorsing the product as the greatest thing since sliced bread.
In one of the video we even have an Apple-esque commercial where another co-founder talks about the dilemma of creating something great and giving it away for free for... no discernible purpose apparently.

Sarcasm aside, my scam-o-meter is off the charts: it is clear these people are paid actors with nothing more than a snake-oil solution under their belt. Poor acting from all parties compounds the problem.

What I don't get is, how come nobody has actually called them out yet?

For whom may want to be amused this is the ad page Top 10 Startups 2015 ? Ultimate4Trading

Note: likely that the 'startup365' is part and parcel of the scam.

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  #3 (permalink)
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I've just noticed that at the bottom of the page in the link above the following notice



I am absolutely gobsmacked and disgusted by this.

This is clearly a scam. Putting a notice that says "those are actors, there's no algorithm" is not an excuse for intentionally misleading people.

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Whats interesting about a scam like this is where the scam is hidden.

The free trading strategy is likely a double-down binary option ploy, every time you loose, you double until your win, then your're ahead, rinse, repeat. No wonder its free right?

The real scam is: the trading market they move you to. Not a well regulated or backed binary market like Nadex, no these scammers move you into black box markets that either dont pay up when you go try to collect your wins, block you from closing your account, or just up and vanish one day like a typical ponzi scheme.

The SEC has a good PDF on the subject

https://www.sec.gov/investor/alerts/ia_binary.pdf

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Posts: 5,295 since Sep 2015
Thanks: 13,326 given, 12,596 received


Zxeses View Post
Whats interesting about a scam like this is where the scam is hidden.

The free trading strategy is likely a double-down binary option ploy, every time you loose, you double until your win, then your're ahead, rinse, repeat. No wonder its free right?

The real scam is: the trading market they move you to. Not a well regulated or backed binary market like Nadex, no these scammers move you into black box markets that either dont pay up when you go try to collect your wins, block you from closing your account, or just up and vanish one day like a typical ponzi scheme.

The SEC has a good PDF on the subject

https://www.sec.gov/investor/alerts/ia_binary.pdf

Thanks Zxeses I had not even bothered checking that, I simply stopped at "if someone is trying to sell me something with smoke and mirrors, why would I buy into it?".

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xplorer View Post
For those of you who have a Yahoo! email address (and possibly hail from the UK), you most probably will have seen in recent months an ad/commercial on Yahoo! UK's frontpage that looks like the pic attached.

There may be variations on the theme but the message is clear: Wall Street is furious over a trading algo that has been taking 'the country' by the storm.

Well, I must have been asleep at the wheel for all this time because I haven't heard those big Wall St. bankers when being interviewed claiming how this fantastic super algorithm has ruined their client's trades and has cut their own bonuses in half.

So how do they do it?

Well there's the article introduction, "4 UK Students prove their Crazy, Money-Making System, worth Millions, on live TV". So we have apparently 4 snotty kids-turned geniuses who have found the Holy Grail. Great. Let's hear it.

There's the "interviewer", "quizzing" one of the kids about the "accuracy rate" of their algorithm: 75%. The kid places a few "live" trades on their system on 3-4 different asset classes and voila'! After a mere 60 seconds the account has grown by 120 USD. Their secret? After having lost money dabbling with trades, one of the kids came up with a phenomenal idea: they decided to combine their passion for trading with their expertise in programming and came up with a successful algorithm. Wow.

First off, bravo. What a fantastic idea. I bet nobody's ever thought about that before.

But wait, hear this. They are releasing this algorithm to the public for free. Yes, you read correctly. Why?

Well they thought long and hard about this. They release it for free so that people, when they have made some money, can donate back (presumably to them) what 'they felt was appropriate' (!).

And of course, it's free, one of them warns, so there will be a 'limited number of positions available', so best to get on board, quickly. Oh. Wait. He's been saying that for months now.

But wait. If they've decided to release it for free, why would there be a 'limited number'? Software is software right? Nobody knows.

The story does not end here. By going to YouTube and searching for 'ultimate4trading' I am bombarded with videos that seemingly provide a review of the service and asking 'is this a scam'? But all the videos are actually people (paid actors I would bet) endorsing the product as the greatest thing since sliced bread.
In one of the video we even have an Apple-esque commercial where another co-founder talks about the dilemma of creating something great and giving it away for free for... no discernible purpose apparently.

Sarcasm aside, my scam-o-meter is off the charts: it is clear these people are paid actors with nothing more than a snake-oil solution under their belt. Poor acting from all parties compounds the problem.

What I don't get is, how come nobody has actually called them out yet?

For whom may want to be amused this is the ad page Top 10 Startups 2015 ? Ultimate4Trading

Note: likely that the 'startup365' is part and parcel of the scam.

I just started reading one of Jack Schwager's many books Market Sense and Nonsense: How the Markets Really Work (and How They Don't)

And your post reminds me of what they have taught in business schools, MBA courses and other business classes....namely the efficient market theory. In chapter 2 titled "The Deficient Market Hypothesis" Mr Schwager discusses at some length this garbage (oops did I say that...).

Looking forward to Jack's webinar next week here at FIO on https://fundseeder.com/home.

Ron

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Buy Low And Sell High (read left to right or right to left....lol)
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  #7 (permalink)
Site Moderator
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Experience: Beginner
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Posts: 5,295 since Sep 2015
Thanks: 13,326 given, 12,596 received


Blash View Post
I just started reading one of Jack Schwager's many books Market Sense and Nonsense: How the Markets Really Work (and How They Don't)

And your post reminds me of what they have taught in business schools, MBA courses and other business classes....namely the efficient market theory. In chapter 2 titled "The Deficient Market Hypothesis" Mr Schwager discusses at some length this garbage (oops did I say that...).

Looking forward to Jack's webinar next week here at FIO on https://fundseeder.com/home.

Ron

Thanks Ron, and yes, this is really garbage. You may find that I posted quite a few threads about dishonest or misleading companies trying to entice people to buying into their extremely dubious proposition. The formula is always the same: a webpage that appears to be an article; a few people who appear to be saying how the system is great; more testimonials about how this made them rich;

and then, at the end, a small, almost unnoticeable link, that says "this is an advert, those are not real people".

The only thing missing is "This is a scam".

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