Mike Douglas and MTA Online SCAM

[TransparentTrader]

Looking through this thread and those in question has provided some great information on Matt Travis - I would suggest, however, that the thread is renamed to Matt Travis / MTA / Mtakeover as I do believe this thread is unjust towards Mr Douglas.

Not once has Mike Douglas directly made any outlandish claims nor has previous clients of MTA have spoken ill towards him - this seems to be solely targeted at Matt Travis (and with good reason) on top of that Mike verifies all trading history via third party verification (MyFX Book) and his results are available for public viewing. Here is the link to his trading results as mentioned;

https://www.myfxbook.com/members/Sirrius618/md-trading/1835975/D2cjWleO3oIgvN6rrrZ2

Just my two cents guys - steer clear of Matt at all costs but Mike is the real deal and his results show this.

All the best guys!

 

[SoMuchBull]

Interesting attempt to distance Mike Douglas from this scam. It is clear from the early posts that Mike Douglas and Matt Travis were partners in crime. They were co-founders of MTA. If you look at the early posts there is information of a string of such companies Mike Douglas has been involved with.

I would be very cautious of posts claiming Mike Douglas is now cleaner than clean and the real deal. Simply an attempt to distance and promote Mike's new venture. Mike setup the MTA scam with Matt, so I would stay well clear of both.

I think the thread name should remain, so Mike Douglas cannot hide his past.

 

[EnlightenedJoe]

'you will learn how to make 3-5% every single day from the markets'
c'mon who falls for this kind of **** ? no disclaimers on the website, it's unbelievable

A couple of years ago, short Natural Gas CFD's yielded 10-15% per days for close to a year on the margin money.

Currently, short wheat CFD's are yielding 1.5% on the margin money per day including weekends, Christmas day, New Years day, you name the day they (the bucketshop) pay it. It's unbelievable for people who don't know where to look to find value.

Don't know who the scammers are this thread is referring to. But their claim don't seem impossible.

 

[SoMuchBull]

The scam was the hard sell on social media promising get rich scheme through trading, when the company actually made it's money from broker commission and referrals along with selling so called courses. Oh not to mention all the lies and fake trades which have been exposed. Both Mike Douglas and Matt Travis owned the company when it operated this scam.

Some claims made were not too outrageous and sounded plausible. Which may be why so many people fell for the scam.

 

[mtakeover]

On a comment on a Facebook status today, someone calls Matt out asking why they charge a signup fee for MTA. Matt replies "£500 sign up fee? Again another bull **** rumour. Our program is completely FREE, ask any of the 2000 clients on my 25k followers list."

Why then on the MTA website does it have for sale "MTA New Membership - £49 - This is a one off payment all new MTA clients will pay for our service and membership."

If all new MTA clients are paying £49 then it's not completely free. And that's without the newsletter subscriptions and diamond memberships which are also for sale on the MTA website. Admittedly the guy on the status got the wrong price, but it's clearly stated in black and white that all new clients pay £49. Screenshot attached for proof.

He can't keep up with his own bulls**t.

 

[JustFRX]

On a comment on a Facebook status today, someone calls Matt out asking why they charge a signup fee for MTA. Matt replies "£500 sign up fee? Again another bull **** rumour. Our program is completely FREE, ask any of the 2000 clients on my 25k followers list."

Why then on the MTA website does it have for sale "MTA New Membership - £49 - This is a one off payment all new MTA clients will pay for our service and membership."

If all new MTA clients are paying £49 then it's not completely free. And that's without the newsletter subscriptions and diamond memberships which are also for sale on the MTA website. Admittedly the guy on the status got the wrong price, but it's clearly stated in black and white that all new clients pay £49. Screenshot attached for proof.

He can't keep up with his own bulls**t.

The website is incorrect (they seem to have real issues getting anything technical right!) and unfortunately, in this instance, Matt Travis is correct: they don't charge anything for the free apprenticeship, as they get a commission from the broker when the 'client' signs up and funds a live account and trades it.

MTA DID charge £50 a while ago for a crap mobile app, and Travis pretty much strong-armed everyone into buying it, saying that unless they bought it by such and such a date, they would be ejected from the groups and the programme. The app was intended to provide signals to apprentices, and stop them from being leached by competitors getting into the WhatsApp groups, but it never truly worked and was not fit for purpose and was quietly dropped. No one got or was offered a refund, which I think, as a businessman, would only be good PR - but then since when could Matt Travis actually ever be classed as a 'businessman'?

Of course, once on the free course, there is repeated attempts at upsells, luring the young and naive with images of exotic holidays and bling (see afore-mentioned watches!), to part people with more cash to fund Matt Travis' lifestyle.

Notice how there's always a specific number of places, and calls for suckers, sorry, future fund managers, become increasingly panicky as the date of the 'retreat' comes ever nearer...my guess is that the spaces all need to be full in order to make the cost of the trip free for Matt Travis and his cohorts.

Then there's the repeated suggestion that people can 'fast track' their learning by joining a select/elite group of apprentices, where they will be taught the 'special' secrets that will make them rich beyond their wildest dreams. All bull****, of course, as nothing MTA/MTakeover teaches is anything special that you can't learn elsewhere for free.

 

[mtakeover]

The £49 joining fee has been on the website for less than 4 weeks, so it would be reasonable to assume that they are charging £49 to join on the latest intake. Why would they go to the effort of creating a new product and graphic if it is not being used?

Before that they had much more expensive schemes for sale instead. Interesting that they have dropped the price of their VIP scheme from £5000 to £249...

 

[JustFRX]

I wasn't ware of that - interesting...might have to sign up again just to check them out! Maybe they're gearing up to do that? Could it be that the bad press is hitting their bottom line and this is just another cynical attempt at grabbing more cash from the unwary?

I know that quite a number of people who paid for the £5000 VIP membership weren't happy with the value they were getting from it, as much of what was promised was never delivered upon (surprise, surprise). As far as I'm aware, most complaints have gone unanswered, with some of the more, ahem, persistent complainers being offered additional personal mentoring and/or being moved into different groups where Matt Travis was supposed to 'focus all his attention'.

Much like the Project10 that Matt bleats on about: £2500 for a 12 month programme to take you from £7500 (the minimum amount needed to fund a trading account) to £1,000,000 in 12 months. Attendees were promised a day in the office (portayed as being in the Shard at the launch) every 4 to 6 weeks, trading shoulder to shoulder with the big man himself and his sidekick, James Wardell, to learn face to face. So far, I believe there's only been one day arranged, but that was on a Saturday at a hotel in Surrey (the Shard office long gone) and was just more education - most of it repeated from the company's video archive. Not to mention the 'regular 1-2-1s' where Matt was supposed to tailor your trading experience according to your existing lifestyle and personally mentor you...tumbleweed anyone? Also, I hear that Matt made many, many assurances to the group that they would be his 'number one focus', but all he seems to have done is focus on other money-spinning ventures, such as more 'retreats', and his incoherent ramblings on trade setups has meandered into rants about psychology and self-improvement (I think he's trying to line himself up to break into the motivational speaker business - LOTS of cash to be made there!).
From what I've heard, the groups are very quiet with most of the attendees reluctant to speak up about their dissatisfaction for fear of being thrown off the programme and losing their £2,500.

 

[s1mm014]

Who are these people parting with £2.5k, £5k, however many £k's for these schemes???!!!

I literally cannot believe anyone would ever feel comfortable handing over that sort of cash to such an unprofessional disjointed 'business' as MTA.

As a test I dropped my number into their 'apply for the apprenticeship' and waited for the cold calling. Needless to say I was hounded for the best part of a month by several of MTA's 'traders' telling me how urgently I needed to sign up. Every time they called me it was the 'last ever' apprenticeship and I had to sign up today in order not to miss out. Two weeks later you could still sign up. They all said they were 'fund managers' for MTA and that's what I could become if I joined... I just kept asking why as a 'fund manager' did they having the time to keep cold calling me to get me to sign up?! Surely they should've been managing some funds?!

The whole thing is just a bit sad really and a sign of the times.

I'm sure I read somewhere that Matt said he was retiring soon, he must have loads of money because hasn't he just bought that house for £28m?!

I've watched several of his trading videos and he does seem as if he knows what he's talking about to an extent. I wouldn't say their strategies are particularly ground breaking but he talks a good game.

The one question everyone should ask themselves about people like Matt and MTA is if they make loads of money from trading why do they bother with the free apprenticeship and courses etc? There HAS to be a catch.

 

[mtakeover]

Matt has been claiming he's retiring for about 3 years now. Same old bulls**t different year. See screenshots attached...

It's like the "last ever" apprenticeship, lost count of how many times it's been the last apprenticeship now...

 

[mtakeover]

Wondering why MTA Live left their office in The Shard in such a hurry?

Turns out they didn't pay the rent and now owe the landlord £24,775.

They also owe the taxman at least £21,837.

The company is now bankrupt, in insolvency proceedings with known debts so far of just under £52,000.

If MTA Live owe you money you should contact George Michael (lol) at Ashcrofts to be added to the list of creditors - you probably won't get your money back but it will strengthen the case against them for matters such as wrongful/ insolvent trading which could lead to director disqualification or other criminal proceedings if this is found to have occured. http://www.ashcrofts.net/contash.htm

 

[s1mm014]

Oh dear... seems the net might be closing in on MTA, no wonder so many of them have jumped from the sinking ship...

Why doesn't Matt just pay this off? I mean it's just the cost of one of his many many 100 lot trades where he regularly makes £50k profit... Oh no wait, these are demo accounts.

 

[annoyedtrader]

This following video from a Univeristy of Anton Kreil is possibly one of the best 2 hours I have spent in my life, just wish I had know this mans wisdom alot earlier before getting involved with such scams as MTA.

https://www.youtube.com/watch?v=L7G0OfJUON8&spfreload=1

In this video he describes Charlitans/Scams and the tricks these supposed "educators" use to scam fools like myself into signing up to their crap. Worth a watch for anyone with a free evening.

 

[SoMuchBull]

I like that post! (like button didn't appear to work).

I am not saying Anton has the magic system, but he does raise good points about scammers.
Why can't we ban IBs and cut off the money tree for scammers, that must be a no brainier?

 

[mtakeover]

For those who haven't already seen it, there is a growing pile of evidence against Matt Travis and MTA on this facebook page - https://www.facebook.com/mtakeover5/

Highlights include 30 pages of screenshots of his endless excuses as to why he can't pay a £2500 debt to someone he has promised to refund, and repeated threats from Matt Travis to people he owes money to.

 

[ctrl]

Here's another lie that can be added:

Matt Travis in his most recent Facebook video (23/08/2017): "I could go on TV... I don't want that"

Matt Travis on the 25th June 2017: "just signed a TV contract..."


I suppose it's hard to keep up when you lie so often.

 

[JustFRX]

And another:

Matt Travis in his most recent Facebook video (24/08/2017) claims to have received threats against his daughter in the form of "stamping on her head" and "raping her".

Classic deflection tactics - you don't want your loyal supporters listening to the negative facts going around about you, so you tell lies in an attempt to make your detractors sound so vile that your supporters are dissuaded from going looking for the allegations.

Why do I believe this to be a lie? Because any self-respecting parent receiving such threats would be straight on to the police. No messing, no hesitaion. And if there was any truth to the allegations and the police then proceeded to take action, you would be barred from discussing it in public.

No, it's just more of the same from Matt Travis: smoke and mirrors.

 

[ctrl]

For those who haven't already seen it, there is a growing pile of evidence against Matt Travis and MTA on this facebook page - https://www.facebook.com/mtakeover5/

Very good page - seems to be gaining a bit of traction re. followers; would be good to be able to upkeep the steady increase Perhaps you could post some of the stuff that's been posted on here re. lies and exaggerations made by MTA?

 

[ctrl]

These Matt Travis lies are far too easy to spot... Didn't he have tickets to the Mayweather v McGregor fight? Oh...

 

[mtakeover]

He then offered them for sale as he's "focussing on work instead", the post offering them for sale was deleted for some reason. What's the odds that he didn't actually have tickets to begin with? Seems unlikely McGregor's biggest fanboy would miss his biggest fight, especially when all he's doing instead is rock climbing, buying flowers for his daughter and wandering around Richmond with his crew, wide eyed and rubbing their noses at 9am (long night crouching over the coffee table reading charts I assume).

Here's a screenshot of him promising McGregor's coach that he will put a £20k bet on McGregor to win and a split of the profits, we'll see if that bet actually gets placed...