GMT Futures and FX, Scam or Not?

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http://www.gmtfutures.com/

Started getting emails from this lot, anyone now anything about them? the cynic in me is always sceptical about these type of unsolicited emails and although I’m not interested in anything they offer I am always curious

This is how they start

“First, I wanted to see if you wanted to be considered to be one of our Traders on our Emerging Managers Platform. It is specific to online traders who are wanting more capital to trade, and a really great way to increase your capital base and continue trading from where you are”

Then it goes on about they have places on the pro trader program and am I interested now my take on this is that its all about selling there pro trader program rather than helping you get more trading capital, the course from looking at the website is about $10K

So anyone had dealings with this firm, is it kosher, another scam or a new way of marketing a trading course

 

[tech/a]

We all see threads like yours popping up on a weekly basis.

In EVERY case these people are after YOUR money.

Seriously if your good enough to trade their money your good enough not to need them.
A few years compounding why would you trade for someone else.

Its all part of the sales pitch.
There are NO SECRETS.

What do you expect a reply like

"Yeh went with these guys---awesome--they taught me how to trade consistent profits of 20-200% a year with their multi faceted 3 systems approach---then I was given $500k to trade with and I kept the profit pretty soon I'll be given control of twice that.
Cost me only a few hrs a week.

 

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Have you tried a Google?

I did and I made a few observations that told me enough not to dig any further:

There are heaps of references to their own website, which is full of sales pitch.
They are located in Queensland.
Your post was the first (and only) reference from outside GMT.
The founder's cv on yelp mentions experience and passion, but no Advisory or Trading License.

 

[Wysiwyg]

Same story forever and ever. Defies logic really. If it makes money then they would not be selling it. If it makes money they would be loading up on it and quietly attaining a large income. The risk free way is to sell a system.

 

[RT14]

http://www.gmtfutures.com/

Started getting emails from this lot, anyone now anything about them? the cynic in me is always sceptical about these type of unsolicited emails and although I’m not interested in anything they offer I am always curious

This is how they start

“First, I wanted to see if you wanted to be considered to be one of our Traders on our Emerging Managers Platform. It is specific to online traders who are wanting more capital to trade, and a really great way to increase your capital base and continue trading from where you are”

Then it goes on about they have places on the pro trader program and am I interested now my take on this is that its all about selling there pro trader program rather than helping you get more trading capital, the course from looking at the website is about $10K

So anyone had dealings with this firm, is it kosher, another scam or a new way of marketing a trading course

Probably go out on a whim here and suggest scam.

They need your money to trade so you can trade their money? Yep, makes complete sense there.

'You can become a full-time trader in a fraction of the time'. No, no you can't.

Whilst we are at it, sign me up to The Sharemarket College or FIWS or whatever they call themselves now.

 

[LukeF]

Hello Forum Members, thanks for your interest in GMT Futures, it seems that you have some information about what we do. May I suggest that you contact the company directly should you have any questions about our process. This way we can make sure that you get our full attention if you have a genuine interest in finding out more about us or if you want to discuss your trading objectives.

To answer some of the questions here;

The Pro Trader Program is for traders looking to gain some consistency with their trading and to follow along with a structured process for automated execution in FX or Futures. The objective of this process is to help you build a consistent and profitable track record.

If you already have a live track record, have sound risk management procedures in place and have a method/strategy that can take scale we can point you in the direction towards a capital allocation network that would be interested in talking to you. There are various ways in which we can help you with your trading should you want to trade a more professional level.

I hope this helps in your research about what we do. As mentioned above please contact GMT Futures directly should you have a genuine interest in working with us. We prefer to give you our full attention and understand what you want out of trading.

Regards
Luke Ferguson
Director - GMT Futures