I was trading for them. My $5000 deposit opened a $1500 account with TM. The balance fell to $497 therefor I should be receiving $3993 refund. Why wouldn't PTC return this?
I was trading for them. My $5000 deposit opened a $1500 account with TM. The balance fell to $497 therefor I should be receiving $3993 refund. Why wouldn't PTC return this?
There's quite a fuss about this on elitetrader at the moment. There's some controversy as to whether or not they are closing from what I can make out.
http://www.elitetrader.com/vb/showthread.php?threadid=222550
http://www.elitetrader.com/vb/showthread.php?threadid=222550
The paperwork I have from the begining of trading for PTC states that if the trader fails to make it to level 2 within 1 year, the $5000 deposit is returned less any losses.
You may be in for a nasty surprise. You should look into this more and not put so much trust in what a vendor told you, especially when someone else here has said they havnt got their money back.
pipinalong
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i read a little about this on elitetrader, thanks for putting that link there pboyles. my contract clearly states how much will be refunded to me. so all the documents from when i joined are now in the hands of the NFA & CFTC. people now are going back and forth, about what is right, whats wrong, etc. does not matter, i posted info here, on who to contact, so i would suggest you contact them. thats what there there for, so use them.
Hi Pipinalong,
Thank you for this info. It is very useful. I am filing a complaint against him as well and encourage everybody to do the same. Have you heard from these people below at all?
Thank you for this info. It is very useful. I am filing a complaint against him as well and encourage everybody to do the same. Have you heard from these people below at all?
Hello,
Im new to this forum but have been trading for a little over 5 yrs. I got my first trading job with richard regan and it was a horrible experience. I cant believe that he is still doing this and getting away with it. He should be locked up behind bars. He finds loop holes in the system and exploits them. The Nfa or cftc will do nothing to help you (trust me i went through it). It sounds crazy but they will actually come after you to make sure you didnt write off the losses on your taxes (once again trust me i went through it). Richard starts up LLC companies every year and gets newbie traders to deposit money into individual accounts which are under one master account. He then pulls the money out and walks (since its a master account he has the authority to do so). Out of the 2 yrs i worked there we changed names 3 different times. The last one before i left was chicago global investments which had several million dollars under management (it is now non-exsistent). The investors lost everything. I could go on and on with this but i dont have the time. I got my money back the unconventual way which i dont care to discuss on here.
If i can help at all please feel free to contact me through this forum and i can give you my phone number.
Im new to this forum but have been trading for a little over 5 yrs. I got my first trading job with richard regan and it was a horrible experience. I cant believe that he is still doing this and getting away with it. He should be locked up behind bars. He finds loop holes in the system and exploits them. The Nfa or cftc will do nothing to help you (trust me i went through it). It sounds crazy but they will actually come after you to make sure you didnt write off the losses on your taxes (once again trust me i went through it). Richard starts up LLC companies every year and gets newbie traders to deposit money into individual accounts which are under one master account. He then pulls the money out and walks (since its a master account he has the authority to do so). Out of the 2 yrs i worked there we changed names 3 different times. The last one before i left was chicago global investments which had several million dollars under management (it is now non-exsistent). The investors lost everything. I could go on and on with this but i dont have the time. I got my money back the unconventual way which i dont care to discuss on here.
If i can help at all please feel free to contact me through this forum and i can give you my phone number.Hello,
Im new to this forum but have been trading for a little over 5 yrs. I got my first trading job with richard regan and it was a horrible experience. I cant believe that he is still doing this and getting away with it. He should be locked up behind bars. He finds loop holes in the system and exploits them. The Nfa or cftc will do nothing to help you (trust me i went through it). It sounds crazy but they will actually come after you to make sure you didnt write off the losses on your taxes (once again trust me i went through it). Richard starts up LLC companies every year and gets newbie traders to deposit money into individual accounts which are under one master account. He then pulls the money out and walks (since its a master account he has the authority to do so). Out of the 2 yrs i worked there we changed names 3 different times. The last one before i left was chicago global investments which had several million dollars under management (it is now non-exsistent). The investors lost everything. I could go on and on with this but i dont have the time. I got my money back the unconventual way which i dont care to discuss on here.
Hi, I am in the same boat and would like to contact you. Could you pass along your contact info? Thanks!
Well, i think if I enroll for the course, the motivation will be to gaining some experience but not making money. If you are a newbies, handling 100+k account to you after trading for 1-2 months is suicidal.
Wait till you have proven track records, then only talk about profit
Wait till you have proven track records, then only talk about profit
