ETF Trader

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Marsha
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Marsha
May 26, 2011 1:24 pm

Back in October, I had been subscribing to Fabian’s High Monthly Income advisory service for several years, with moderate success, so I decided to try for more growth through his ETF trader. I subscribed on a quarterly basis in late October so that I could unsubscribe without too much expense if I wanted to. I spent the next 6 months following his advice *exactly*, with $30,000.

Losses, losses, losses kept piling up. About $3,000 on the $30,000 at the end of 6 months: that’s a annualized loss of 20%. I was not a happy camper.

I called in mid-April to cancel when the Account Manager, Matthew Weber, suggested I try it a bit longer, until May 18. Still no turnaround.

I decided to unsubscribe and invoke their 100% money back guarantee, at least for one quarter’s subscription. All they would offer was $60 some dollars, figured based on the time since I had called in April to cancel. They told me the 100% guarantee was in the first 60 days, even though I had been re-subscribing quarterly (at a much higher rate than the annual).

I was still not happy, so Mr. Weber turned me over to their manager, whose name I can’t remember. He was a surprise for his rudeness (unlike Mr. Weber).

Will not do business with them again.

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Dave
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Dave
June 25, 2011 6:47 am

I subscribed to ETF Trader having seen reasonable results from Fabian’s Successful Investing. I started following the newsletter with approximately $30,000 at the end of April 2011. This was the start of a rough period for the markets, and I was looking for advice in a mixed-market environment. Unfortunately, following his advice was straight down. His father’s model used for the buy-and-hold Successful Investing does not work well for short-term trading. I was going to short a Russell 2000 index fund when he issued a “buy” signal on a leveraged Russell 2000 index fund, only to stop out less than a week later with a 10% loss. I did take advantage of the money-back 60-day guarantee to save my $275, but that pales in comparison to what I lost following his advice!

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