Luxman Trading Concepts, Inc. complaints

Complaint Experience

N/A

BCA's Summary and Analysis:

Complainants allege the company misrepresents the profitability of their trading systems posts misleading advertising statistics on their website and fails to honor their money back guarantee. Some customers complain that trading results posted on the website do not accurately reflect what would really happen in the account of a subscriber. Complainants claim they are mislead into thinking that by using the company's trading system their profits would be comparable to the statistics displayed showing up to 600% profits on invested amounts. Other clients reportedly purchased trading systems for a $5000 start up fee with a guarantee that after an agreed upon time period if the system failed to generate profits the initial $5000 fee would be refunded. Customers complain the company fails to issue refunds as agreed. Other complainants allege the money back guarantee is deceptively worded and actually means that if the system itself fails to generate profits purchasers are entitled to a refund not if the individual account fails to generate profits. In other cases complainants allege the company uses automatic dialers and telemarketers to solicit their trading program who call repeatedly despite being told not to call again.

The company responds to some complaints by disputing some allegations but generally agreeing to provide refunds or partial refunds per their money back guarantee. Although complainants are typically advised refunds will be issued many are reporting that no refund has actually been received. One or more complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate.

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