I recently gave MTI’s Ultimate Traders Package a go basically because they gave me the option of trying it for a month for US$500 and were I not satisfied they would issue a refund to me. I believe now it is only fair and my duty as a trader that I share my MTI experience with the community.

At the beginning I wasn’t very sure about it and also had some problems getting my paypal account to work properly, in the mean time they came with the $500 offer so by the time I’ve got my paypal account working I went for it, although I felt a little bit uncomfortable with the selling pitch tone around the whole thing.

Initially the course seems right. There’s a lot of good psychological advice and compilation of good stories you can feel related too if you have traded for a short while. This part of the education aims you to earn conscience about the emotional side of trading, interestingly the same lesson uses a lot of your emotions to hook you into MTI’s methodology, in which you ‘should believe blindly just as the truth that the sun goes up everyday’, or so they constantly say during the 15 lessons.

There’s some good concepts about trend lines, trade check lists and a nice introduction to Fibonaccis but as for what the lessons is concerned I consider they are not worth US$4,500; which is the special discount price they offer down from the original US$7,500 the UTP costs. The information is presented in a simple way that makes it easy to understand basic trading concepts but still you could find all this and more in good books or other video courses made by professionals available on line for US$500 or less. UTP lacks specific lessons on Moving Averages and other basic indicators. However, they offer other things in the UTP so I kept on looking and trying to find the value in such things.

The charting software was not of my like at all, the colored Fibonacci Retracements tool is nice but other than that the charting software it’s not nice to use. I’m a musician and video editor so I’m used to the high quality of Apple and Avid software with years of developing at the hands of the pickiest users in the world (artists) so maybe that sets the bar a little too high, but even comparing it with other charting software I still find it a little too raw and uncomfortable. The whole chart system also went down more than a couple of times during my month there at different times of the day, resulting in Analysts on demand suspended sessions and replays of videos re-explaining some concepts from the lessons.

Auto Trading Systems: I don’t like them. They are only indicators set to throw signals under certain market conditions and nothing else. I felt very uncomfortable with the way they sell such systems as marvelous utilities.

Analysts on demand: This was the part I though was going to make the UTP worth the money. They do have one, maybe two interesting traders as it’s been said here before, but again there were lots of off line time due to technical problems with MTI servers and charting software, and at the end the visions from MTI’s analysts are very much in line with the whole Forex industry standards.

Ultimate Wealth Experiece: that’s a 3 day on line presentation that basically comprises all the 15 lessons in 3 full day intense sessions. You need to attend it in order to get you refund as well as you need to take all lessons tests and watch 10 hours of Analysts on demand. It was not easy but it’s doable if you have some previous knowledge and an off week to focus on this. The 3 days experience takes place on a Wednesday, Thursday and Friday period.

FXChief Menthorships: Again, the guy compiles a good set of histories and a interesting philosophical approach to trading, but later on the course and on trading exercises you can’t help to notice this philosophy is not always fallowed as it should. There’s contradictions like analysts trading with no stop loss, or even the FXChief constantly talking about lots of money when you are only supposed to think in PIPS in order to take the greed away.

Sales policy. This is what took me away the most from MTI. They are way too aggressive sellers. Every Client Only Webinar is a presentation to sell something, mostly auto-trading systems. They also begin to offer you extras so you pay the full tuition before the trial month ends. They constantly send you TONS of emails and call you on the phone to explain all this opportunities you have. Again, they say in Lesson 1 that you should always do you research in full before trading and then a couple of days later they try to convince you to stop your mutually agreed research on the UTP and hand them US$4,000 right away.

The worst was a late night call one of their representatives made to my house at 10:30pm (there’s only a 30 minute difference between Caracas and Florida so it was 10pm in Florida, still too late). There were people sleeping, and having experienced recently a couple of midnight family emergencies you become not appreciative of unexpected late night phone calls. They did apologize properly later but it was already done and my patience began to run out. Never give them your home phone number. Never.

There’s also too much cult like interaction in their presentations, too much please say yes wouldn’t it be great to earn this kind of money folks? type y or yes if you think this is great!. A lot of Intense selling tactics I would strongly recommend avoiding to anyone with the smallest self confidence issue.

The say they can’t suggest a FX broker due to regulations but clearly favorite FXCM allegedly because their software is compatible with MT4. Needless to say what has happened recently to FXCM.

Now that I have applied for my refund they have offered me to take off half the price, I responded saying thank you but no and they didn’t write back. I simply don’t trust a product that tries so hard to sell itself, it’s common sense and they at MTI should realize about it, because I believe this attitude will only hurt their business in time.

After I filed my request for refund I was contacted by a girl named Vanessa which wanted to discuss my decision. I said fine but I’m busy please call me on this or such time she didn’t. I wrote her almost 2 weeks later and she insists in talking to me so I write her that she can call me or I can explain her my reasons to leave by email, no answer again. This week I wrote her to see how it was going and again no answer.

They claim that refunds take place in 4 to 6 weeks after the claim, it’s been now 3 weeks since my refund claim was made so I hope it will be fulfilled soon.

A final comment. I have experience with on line education. I took courses and plan to take more at the Berklee College of Music On Line School, those courses helped me and taught me a lot, so I believe I have enough experience to distinguish if I can get something from an education system or not, sadly MTI’s UTP did not fulfill my expectations. I wouldn’t recommend it to anyone even as there is some people working there that really seem to want to do a good job, but the concept this company operates by does not make it easy.

I’ll keep you informed of the development of my case.

DISCLAIMER: This report is meant only to reflect my personal experience and view. I intend no harm to MTI in anyway whatsoever. It’s my sole intention to fulfill my refund requirement in the most smooth and regular way, thus ending my business relationship with MTI as soon as possible, hoping that in the future the company becomes able to improve and overcome their, in my opinion, flaws. Nor should this report been taken as an irrefutable truth without proper self experience and study of the product offered by the company here mentioned.