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.
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, therefor 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 of 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 whomever 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 because 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 through 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.