Unwilling to verify any trades. Outrageous claims of monthly profits. Owner using multiple identities. Prior defunct websites. A money back guarantee that requires you risk thousands of dollars while the owner risks nothing. An insult to anyone with even mediocre intelligence.
User Review( votes)
Today’s review is about one of my favorite trading charlatans…David C. Lead of XMA Trading. David first broke onto the vendor scene back on May 12, 2014. With bold proclamations, he announced through Online Trader Central that for the first time ever, and for an extremely limited time, he was offering his proprietary ultra super secret trading system that performs with 90% accuracy. And you too could own this system for only $2500. But wait! For a limited time he was offering an amazing discount of $1000, therefore the purchase price was reduced to a one time, super special, amazing, breathtaking price of only $1500.
Some important details of the offering include the following:
- 90% accuracy
- $10,000 monthly average income
- Trades most any market
- Only a 6 tick guaranteed stop loss
- Free lifetime membership to trade room
- Easily earn over $50,000 each year, trading only a single contract
- A conditional money back guarantee
Amazing! I could hardly wait to purchase this amazing trading system and start making $10,000 each month, with a guarantee.
Well folks, if you reading this and feeling a little skeptical, well you should be. Here is why…
I contacted David back in May, 2014 and asked for a trial of his trading room. I explained that I just wanted to spend a day watching his system. He responded that there is no trial, and no person can watch him trade for it might reveal proprietary information. He then responded that his system comes with a guarantee that if it does not perform as promised, then he would gladly refund the purchase price.
I explained to David, that a refund guarantee is nice. But what if I start trading this system and I promptly lost thousands of dollars because it was flawed and could not possibly work in live conditions. He explained that this was highly improbable and that I was his money back guarantee was iron clad.
Next, I sent David a very nice email asking him if he could show me an account statement that matched the results that he was posting on his website. He never responded. A few days later, I again requested a screen shot of actual trading results…no response.
A week later, with a pen name and a fresh email address, I attempted to verify that he actually trades. No response. At this point, I had to just laugh to myself and wonder how anyone would give this guy any money.
XMA IS BACK WITH ANOTHER AMAZING OFFER!
Now lets fast forward about a year to January 12, 2015. I receive another announcement of yet another amazing trading system being offered by non other than David C. Lead of XMA Trading. Lets go over this years newest and more amazing trading system announcement. This year, we have the new and improved version 3 XMA trading system. This new system includes the following:
- Trading less than 30 minutes each day
- No more wasting time reading or studying
- Complete turn key system that will easily earn $75,000 per year
- Lifetime membership to trade room
- EZ entry buttons!
- Amazing new low price of only $1295
This new offering sure looks a lot like last years offering. And so I send David an email requesting that I have access, for only one day to his trade room. I just want to see him execute his system. He responds once again that secrets could be revealed and that I must first purchase his system, in order to watch him trade it live.
I respond in another email that I would like to see a single trade executed with the system on an account statement. No response. Apparently even the most simple and requests, verifying that you actually trade is not worth a response.
The Money Back Guarantee
Lets talk about that money back guarantee. As stated in the performance guarantee, if within the first 45 days from the date of purchase, if the system has not earned 150 ticks trading the CL, TF, DAX, GC and HG, following trade times using one contract, then he will provide a full refund.
Lets thing about his a moment…the XMA Trading website has zero information on the person providing this guarantee. Not anywhere on his website is a first name provided. No address either. No nothing! So, this person named David C. Lead wants me to send him $1295 and then blindly trade his system with my live account, risking thousands of dollars in 5 different markets! The DAX and HG (copper) market have wild swings and regularly move thousands of dollars in only a few seconds.
Look, I have no problem taking risks. And I can appreciate a money back guarantee, but trading 5 markets would take on a huge amount of risk. The very least that any sane person would ask is that the system vendor is actually trading. Verify something, anything!
The Biggest Insult
In order to get your money back refund, a trader must trade a live real money account, in all five markets, for the full 45 days. The brokerage account statements must then be sent to David so that he can verify that everything was done exactly like the system instructed. Amazing! We have have to send him our account statements, but he wont send us his? He wont even verify that he trades his own system, yet he wants us to risk our money.
More Lies From David C. Lead
Well if you are still reading, and feeling even slightly suspicious or slimy, then you should be…because things are about to get even better. David C. Lead of XMA Trading.com is actually a guy name Mark of a now defunct company named Bounce Trade. The Bounce Trade website is now shuttered. But thankfully, old pages of Bounce Trade can still be found indexed on Google. Lets take a look at few pages and how they compare with the new XMA Trading website.
If you are amazed at how similar these websites are, then you should be. The pages are nearly identical. So, what happened to Bounce Trade?
Well, it turns out that Bounce Trade has been pushing this same trading system via Online Trader Central since 2013. Here are a couple of links to the old sales pages…
The Truth Is Hard To Find
Sometimes with trading products, the truth is hard to find. One of the clues that I look for is the meta code written within a websites interior coding. This data can give us a clue as to whom actually owns the website. Another tool is to check the domain registry.
The interesting thing about XMA Trading is they have their robots.txt file blocked. This means that whoever owns this website is going to extraordinary lengths to avoid search engine detection. Why would someone not want to be found by Google? If you are selling something, why not let Google know you are selling it? The only reason I was able to pull up the old data on Bounce Trade was that the robots.txt file was not blocked.
The next issue I have with both of these sites that the domain registration has been blocked as private. Which in itself is not a big deal. But why go to such great lengths to cover your tracks? Why block Google? Why you company name? Why not show the trading community that you actually trade?
Where there is smoke, there is usually fire. And with the trading community, if you smell smoke…99.999% of the time there is a fire.
At the end of the day, we all have to figure out for ourselves what is real and what is not. With regards to XMA Trading and Bounce Trade, with absolutely no accountability and a history of pushing shady products, I think that this product is a definite pass. With so many other trading vendors out there that actually do trade, are willing to verify trades, and trade in a live environment, then why should anyone take such a huge risk with their trading account?
Well thats if for now. Please leave your comments below. And if you have had a positive experience with either of these companies…then please reach out to me! I would like nothing more than to rewrite this review. Nothing would make me happier than to show a real live person making $10,000 each month with a money back guarantee.
There was some validity to the approach and the programing was beneficial. I was able to tweak it to help me a great deal but it WAS NOT off the shelf. Also, it is impossible for one person to watch and trade all of the markets. Due to a family emergency I had to stop trading for a while. When I returned no trade room. No web site. No support. POOF just gone. Basically I spent a lot of $$$ to get some automatic trail stop programing which I could have paid a geek a $100 to program in NInja.
This is a response to your false accusations.
1. It was never hid that the previous website was bouncetrade but you evidently do not read the websites completely. We build operating systems that are all in at the same price. Trading limited bid and offer instruments like Dax Gold or Russell. If we had 100 people trading all at the same price we would receive huge slippage when a stop would get hit thus we have a limited number of subscriptions available so members do not have bad fills when we incur a loss.That is why we only have a limited number of units available. Some other educators also have limited members available on products like netpicks. Bouncetrade was shut down after member limit was hit. Websites are to get the word out for advertising and once their usefulness is up they are removed.
2. Your comments that the guarantee requires you to trade live is also not correct. The webinar clearly says for xmatrading that you can trade in Sim and the website makes no mention of trading live.
3. You wanted access to the trade room. Why would this be provided since you would be able to determine in one day our trading method and ma settings. We show trading live marked on charts the good and bad trades. The reason we do not provide access so you can steal our intellectual property and provide it on a blog. Which I am sure you will delete this posting after submitted.
4. We operate a business not a little blog. Try finding direct contact info of owners and CEO of companies like ameritrade IB brokers or ninja trader etc.
5. Finally in your comments above you are comingling websites which is not correct.
All of this can be easily solved by simply trading live, with a DOM present on the screen. Every reputable vendor is now doing it. I would be more than happy to give you a positive review, and send you plenty of free traffic, but you just need to trade live.
Nobody wants to steal your intellectual property. On the contrary, I lose count of how many honest and hard working people that I converse with daily that are more than willing to spend their honest money for honest services.
Show me you have a good product. Trade it live. I would be more than happy to rewrite this review. Have done it for other vendors. Not here to hurt your business. Just here to report the truth.
Emmett, david c is not to be trusted. It’s almost humorous, but really sad, that he responds as david c, but goes by Mark in his trading room. Which is the truth? That pretty much sets the stage for the way he operates.
Unfortunately, I participated in the XMA trading room. His results were poor and his “review” of possible trades that could have been taken outside the trading room hours was a joke; therefore, his posted results were a joke. He would never offer proof of results when asked, and I did ask, because I fought to get a refund. Fortunately, I did, but others were not able to. He used limit orders to enter, so you often did not participate in retracements of a trend because the market missed your price, and if it touched it to the tick, you often didn’t get filled. He seemed to always get filled on good trades. And with limit orders, you will always participate in every loser.
Regarding his promise of riches and his money back guarantee based on performance: if his system was as profitable as he claimed, it would take less than a week to achieve the course price. Why is he giving you 30 or 45 days to recover the cost (using 2 contracts)? The answer is, he’s giving himself 30-45 days to try to make that much. If 45 days has 30 trading days, and you spent $2,395 for the course, he needs to average $40/contract/day, a far cry from his promised riches. But…he gave you a ‘special’ price of $1.395, so he only has to make $24/contract/day for you to recover the very generous discounted price. See how that works?
When I was in the room, his strategy was doing poorly, so he started creating a new scalping strategy, and he engaged the class to help him with ideas. Everyone was so desperate to make money and be a part of something worthwhile to redeem the experience and recover lost time and money, that they joined in and offered the help they could. Sad. This is very similar to what he did with bouncetrade, which is documented at bigmikestrading.com. Eventually, on the XMA site, the old course was shown as ‘sold out’, and the new scalping course was being promoted. Sold out…he’s good. Makes it seem like it was so popular that he had to limit the sales due to its success. Mark/david enjoys tinkering and ‘creating’ new strategies. There were times in the trade room that he was so busy working on his new scalping strategy, showing people his ideas, getting people interested and gathering their ideas and input, that he completely lost focus of ‘trading’ the strategy we paid for him to represent in the room. He had lost interest. If it was such a money maker, he would have been focused and making the big money he promised.
So now, the xmatrading.com site is down. What happened? Just like bouncetrade, it served it’s purpose. What’s next? A new strategy and a new site: mastersoftrading.com. Yet another iteration of the same marketing, same promise, same veil of secrecy to personally hide behind. Google it…nothing. No comments. Why? Because it’s brand new and nobody an share their experience or perspective. The website offers days and days of successful trading, promises of riches, a money back guarantee… I will admit, his marketing is enticing, and he knows that. He’s done it with success at least two times before.
I only wrote this entire reply to warn others of the way Mark/david operates, and if you’re considering mastersoftrading.com (Masters of Trading Group), I want to encourage you to investigate, ask questions, read the May 2014 post at bigmikestrading.com…think before you leap. Obviously, I would advise you to avoid leaping.
thanks for the honest review …I was considering this method but thankfully I looked for reviews and found this site …I agree , if their system is that good then why hide the results …..scam artists !
Thank you for taking the time to comment. I really do not like writing a bad review. And I absolutely hate expending resources to video record several weeks and then edit hours of video to parse out the truth. Its a thankless job that leaves me sometimes depressed. But on the other hand, I have found some really good educators. Have a few coming out in the next few weeks that are really good. Good, as in I found a few really good rooms. But I dont like to write unless I have hard facts in the form of recorded video.
Hope your trading is going OK. Keep in touch.