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Thread: CTI Group, LLC

  1. #1
    Join Date
    Nov 2010
    Posts
    1

    CTI Group, LLC

    We were just approached by CTI last night. Very smooth talker. Trading futures. $6000 to get the program and a $2500 investment which according to Jack Logan will make $500/month. If in 1 yr. it has not performed as expected, all $6000 will be refunded. Does anyone know anything about these people? It sounded too good to be true. Thanks a million (my husband and I are both retired and can't afford a $6000 plus $2500 mistake)

  2. #2
    Join Date
    Jul 2009
    Posts
    2,626

    Re: CTI Group, LLC

    Quote Originally Posted by denvergal View Post
    We were just approached by CTI last night. Very smooth talker. Trading futures.
    Very risky, trading futures.

    $6000 to get the program and a $2500 investment which according to Jack Logan will make $500/month.
    Is the program making $500 a month now? How long has the person who called himself Jack Logan been doing this? Did he show you his tax documents or any documents at all to back up that claim?

    If in 1 yr. it has not performed as expected, all $6000 will be refunded.
    If you can find the person who called himself Jack Logan.
    If this program is around in a year.
    If the website, phone number, contact information is still valid.
    If anyone at this program honors refunds.
    If you have anything in writing that is legally binding, notarized and registered with the appropriate local, state, and federal regulatory agencies.

    Does anyone know anything about these people? It sounded too good to be true. Thanks a million (my husband and I are both retired and can't afford a $6000 plus $2500 mistake)
    If you can't afford to lose it, don't gamble it. Trading anything, stocks, futures, etc is gambling, you could make money, you could lose everything you invest.

    Do you have a website, phone number, street address, any more information?
    Found a scam or scammer's email address? Post it at scamwarners.com
    Found a romance scam? Post it at romancescam.com

  3. 05-06-2011, 11:47 AM

    Reason
    proposed litigation

  4. #3
    Join Date
    May 2011
    Posts
    1

    Re: CTI Group, LLC

    CTI -Newport Beach, Cal is a complete scam. Once they have y our money you will hear nothing from them, especially their guarantee. This scam is supposidly run by a Jack Logan and Mark Bishop. Do not invest a penny with CTI.

  5. #4
    Join Date
    May 2010
    Posts
    4,636

    Re: CTI Group, LLC

    Quote Originally Posted by sodbuster View Post
    CTI -Newport Beach, Cal is a complete scam. Once they have y our money you will hear nothing from them, especially their guarantee. This scam is supposidly run by a Jack Logan and Mark Bishop. Do not invest a penny with CTI.
    If someone tries to talk to you about commodities or futures, look them up at http://www.nfa.futures.org first, if you don't find them there, turn them into the CFTC. http://www.cftc.gov

  6. #5

    Re: CTI Group, LLC

    Quote Originally Posted by sodbuster View Post
    CTI -Newport Beach, Cal is a complete scam. Once they have y our money you will hear nothing from them, especially their guarantee. This scam is supposidly run by a Jack Logan and Mark Bishop. Do not invest a penny with CTI.
    I invested in one of their systems over a year ago and I have had no problem. My Broker uses their system to trade for me.

    From your vague comments above I assume you know nothing about what or who you are talking about.

    Don't ASS-U-ME you know something unless you have proof.

    My account have been making me money. That is all that matters.

    Cash talks and your BS needs to walk.

  7. #6

    Re: CTI Group, LLC

    CTI, a division of VICTORY TRADING, located at 3857 Birch Street, Newport Beach, CA 92660 phone 323-348-4766, General Manager Mark Bishop. Hope to see dozens of law suits.

  8. #7
    Join Date
    Jun 2011
    Posts
    1

    Re: CTI Group, LLC

    Quote Originally Posted by Uncle Bubba View Post
    I invested in one of their systems over a year ago and I have had no problem. My Broker uses their system to trade for me.

    From your Can youvague comments above I assume you know nothing about what or who you are talking about.

    Don't ASS-U-ME you know something unless you have proof.

    My account have been making me money. That is all that matters.

    Cash talks and your BS needs to walk.
    Can you please provide the names of the trading firm that you use? How did you check the LLC firm out? What credit card company is likely to get your money back after a year or maybe this is not possible under their policies or fed law? Did you talk to the chief technologist , Jack and if so what do you think-? Did you check out the VVV by internet or did you call them or any other organization that might know about them?Thanks!

  9. #8

    Re: CTI Group, LLC

    Sue them under the Telephone Consumers Protection Act 47 USC 227 and 47 CFR 64.1200

  10. #9
    Join Date
    May 2010
    Posts
    4,636

    Re: CTI Group, LLC

    Quote Originally Posted by Spankey151 View Post
    CTI, a division of VICTORY TRADING, located at 3857 Birch Street, Newport Beach, CA 92660 phone 323-348-4766, General Manager Mark Bishop. Hope to see dozens of law suits.
    None of whom are licensed with the National Futures Association. File complaints at http://www.cftc.gov

  11. #10
    Join Date
    Jul 2011
    Location
    Philadelphia, PA
    Posts
    2

    Re: CTI Group, LLC

    Quote Originally Posted by Uncle Bubba View Post
    I invested in one of their systems over a year ago and I have had no problem. My Broker uses their system to trade for me.

    From your vague comments above I assume you know nothing about what or who you are talking about.

    Don't ASS-U-ME you know something unless you have proof.

    My account have been making me money. That is all that matters.

    Cash talks and your BS needs to walk.
    I spoke with CTI last night. Is there some information you can share that might help me make up my mind? The negative comments on this site are very disconcerting.

  12. #11
    Join Date
    Jul 2011
    Location
    Philadelphia, PA
    Posts
    2

    Re: CTI Group, LLC

    I spoke with them last night.

    Not sure how to check them out.

  13. #12
    Join Date
    Sep 2011
    Posts
    1

    Re: CTI Group, LLC

    I was contacted by CTI 8/10, talked to Jack Allen and Chris Allen. Checked it out with relevant agencies, Better Business Bureau, CA AG office, etc. Paid $ 6K. Lost money trading. Applied for the advertised refund, and was refused same. :judges:

  14. #13
    Join Date
    Mar 2012
    Posts
    1

    Re: CTI Group, LLC

    These guys are persistent and very persuasive. I never considered myself to be a gullible mark, but after two hours on the phone with them, even I was wondering whether the "too good to be true" returns might actually be possible.

    As others have said, the offer is a hands-off futures trading system: send them $6000 to buy their trading system, open a trading account with a broker they send you to, fund the account with $2500 for each contract you want to trade, and they will automatically place E-mini S&P futures trades for your account. They have years of simulated trades, and since the system has been trained with the benefit of hindsight, it's not surprising that it shows simulated profits of 6-10% per month. They say if the system doesn't give you a profit at the end of the year, they will refund your $6000 fee, "guaranteed", and it's totally safe because you can file a chargeback with the credit card company. What could possibly go wrong? The problem is that they require you to wait 13 months (including one "free" month after your card is charged but before the performance period begins), and "claims and defenses" credit card disputes must be filed within 12 months and are valid only if the consumer lives in the same state and within 100 miles of the merchant.

    To see what CTI uses in their pitch, go to autofuturestrading.com, username: fox, password 11, then click on trading systems, username: vic, password: tory, then click on "subscribe now" to see the user agreement. Read it carefully - there are numerous red flags including "CTI reserves the right to change the terms of this Agreement ... CTI's failure to provide notice of such change shall in no way effect [sic] the change. SUBSCRIBER AGREES TO BE BOUND BY ANY CHANGES MADE BY CTI TO THIS AGREEMENT". (emphasis added). Subscriber also agrees not to pursue arbitration or participate in any class action against the company. And the coup de gras: "Refunds shall be based on the performance of the trading system, not the actual performance of the subscriber's trading account." Since the spreads are so small, sliippage in execution can easily turn theoretical profits into actual losses.

    My opinion: if they actually had a system that would return the profits they claim on real trades, they wouldn't be wasting time setting up a boiler room to get people to send them $6,000 for it.

  15. #14
    Join Date
    Jul 2006
    Posts
    7,767

    Re: CTI Group, LLC

    CTI, a division of VICTORY TRADING, located at 3857 Birch Street, Newport Beach, CA 92660
    this address appears to be a rented mailbox.

    http://orangecounty.citysearch.com/p...x_newport.html


    Postbox Newport
    (949) 756-8808
    3857 Birch St
    Newport Beach, CA 92660

  16. #15
    Join Date
    Jul 2006
    Posts
    7,767

    Re: CTI Group, LLC

    http://www.la.bbb.org/business-revie...h-CA-100093934


    Additional Information
    top
    BBB file opened: 4/15/2010
    Business started: 1/1/2004
    Licensing
    As of our last verification, July 20, 2010, we could find no evidence of license with Commodities and Futures Trading Commission, NFA, and the US Futures Exchange. With certain exceptions, Federal law requires all persons, businesses, or organizations that wish to conduct futures related business with the public to apply for National Futures Association Membership or Associate Status. To check or verify registration of your broker, advisor or dealer, you may contact the NFA's Information Center. They can be reached by mail at: NFA, 200 West Madison St #1600, Chicago, IL 60606-3447, by phone at 312-781-1410 pr 800-621-3570. You may visit their website and obtain the same information at www.nfa.futures.org/basicnet or by email to information@nfa.futures.org. The website contains registrations from the Commodities and Futures Trading Commission, NFA, and the US Futures Exchange.
    Contact Information
    Mark Bishop - General Manager
    C. Cooper (Owner)
    Number of Employees
    50

    Business Category
    Commodities Brokers and Dealers

    Alternate Business Names
    CTI Group, LLC
    CTI
    AutoFuturesTrading.com

  17. #16
    Join Date
    Mar 2012
    Posts
    1

    Re: CTI Group, LLC

    They called me with an aggressive sales pitch and they sounded legitimate. They charged me $5500 for the Victory license and offered me a one year performance guarantee. If the system was not profitable for my first year I could get a refund of my license fee. During the year that I traded their system, there were three occasions that the brokers that they referred me to refused to handle their trading system because they are unregistered. Each time, I had to pay a wire fee and fill out a lot of forms with a new broker. I originally invested $2500 in the account linked to their system. My balance kept dropping as a result of losing trades and I kept hoping things would turn around. Their results were abysmal in February 2012, and I was notified by my broker that there wasn't sufficient margin in my account to cover any more trades. My original $2500 was down to $489.50, a loss of more than 80%. This occurred at about the time of my one year guarantee period, so I wrote to Mark Bishop for a refund. I just spoke to him and he said that I wasn't qualified for a refund because they showed a gain of over $900 for the period. In their sales pitch they told me that their wouldn't be much slippage on their trades because they limited their system to 500 investors. Actually, in every single trade, my gain was smaller or my loss was larger than what they posted on their web site. On some trades that they listed as profitable, I had a $12.50 profit before a $24.00 commission. In their sales pitch they show you how they could theoretically make hundreds of per cent profits, and they said they only had posted one losing month. Now six of the last twelve months were negative, even on their posted trade list. Between the slippage and the commission on those trades, no one could have made money with their system this past year. Their system is strictly technical and the markets have not been performing in a normal technical pattern, being driven by news events and high frequency trading.

    Do not make the mistake of falling for CTI's sales pitch. The results that they post are not actually achievable. They are not an honest firm, and it is quite possible that before long no broker firm will be willing to handle their trades. Any performance guarantee based on unrealistic trading results posting system is worthless. I will refrain from using the words that I feel would accurately describe the character of Mark Bishop and his cohorts because I feel they might be considered slanderous.

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