BreakPoint TradesYou have been warned

J
This review was posted by
a verified customer
Verified customer
Review updated:

New subscribers to BreakPoint Trades should watch out for when you sign up for a specific period, Breakpoint Trades automatically bills your credit card for the next period, when it comes time, without sending you an email or notice advising you of new charges.

I signed up for their system for 6 months and did not like it. So I thought I was done and did not have to contact them since after a couple of months I new I had made a mistake in joining their service.

Well, they charged me for another 6 months and the only way I found out was after looking at my visa monthly statement, they had charged my credit card another $240.

I email them saying I did not use the service after the first couple of months and they could check this out since you have to sign in every time you go to their site, but that was not a good answer to them.

They claimed that I had agreed to their "hidden in the signed up forms", to get billed automatically after every expired period.

Out of $240 overcharged, I was able to get $100 back as a "good will gesture"!

Visa would not help me siting the contract I had signed and I was stuck with their bill even if I did not get a renewal notice.

Be careful when you enter into an agreement with these people.

In my opinion, no one makes money from their ever changing formulas and that's why there is no notice coming to you or you will cancel!

LET'S FACE IT. Even a broken clock is correct twice daily !

You have been warned!

More BreakPoint Trades Complaints & Reviews

Responses

  • Ja
    James R Roe Jan 13, 2011

    Hello I work for Break Point Trades, and I would like to make a quick statement about this.

    I don't know exactly who this user in question is, but we have a typically provide full refunds if people contact us within a few days of the transaction going through. However the insinuation that we rebill automatically in order to take advantage of the customer is patently false.

    Every time you login to the website you are greated with the below login page, which tells you in no uncertain terms how many days you have left before your membership will renew.
    http://breakpointtrades.com/jing/member_login.png

    And before you are allowed to signup to the website you must agree to our user policy, I have included the relevant section below. As you can see the very first paragraph of our payment section explains exactly how our billing works. We used to only bill for one subscription at a time, but we got a bunch of complaints from our users about having to re-enter their credit card info every month. So by trying to please the vast majority of our users we have inadvertently upset a much smaller yet still vocal group of users.

    I'm sorry that your breakpoint trades experience wasn't great but we have retained more than 50% of all users who have ever paid for the service since 2005. That's a pretty impressive track record, and we must be doing something right.
    http://breakpointtrades.com/jing/payment_policy.png

    -1 Votes
  • St
    Steve1001 Jun 30, 2011

    Breakpoint trades' analysis is quite useless for trading imo; they seem to gear to day traders hopping to catch small swings in the markets- This is a fallacy that only novice traders dabble in. System trading is one thing; reading tea leaves and interpreting minute to minute swings is another. In any case, most of their daily newsletter gives scenerios that have the markets either go UP or DOWN - OBVIOUSLY; that's what you get if you're interpreting noises.

    -1 Votes
  • Mo
    morgon13 Mar 27, 2013

    This Breakpointtrades is a total waste of time and money. They have all predictions covered. For example, if the market doesn't go up tomorrow we think there is a good possibility it will go down. There are 30 to 40 charts to wade through each night in the newsletter. By the time you listen to all the possibilities you have no idea what to expect. If these guys could trade then they would not have time to waste doing all of this crap trying to get your money.

    2 Votes
  • Ja
    Jacop Nov 07, 2013

    Or, they come up with a new and improved model because the old one broke. I believe that is the game they are playing right now. My guess would be that since their last systems were created they failed miserably in real time, real money, going forward basis.
    So, they probably created a new model to fix the bad history of the old one. Now the new one gets sold that looks fabulous with the old hindsight data. The game goes on.

    Besides the off the wall swearing thus guy did at me...he also has been email bombing me with rubbish. I had over 15 spammed mails from him this morning.

    Instant karma eventually catches up with these guys. Because of this guys kind of crazy almost drug induced outrage at me...his karma might have already caught him.

    If he wasn't so crazy rude, I'd have pity on him and feel sorry for him.

    I am keeping a folder on all these emails he has been sending me. It is more than strange.

    2 Votes
  • Pr
    praetor54 Feb 27, 2014

    To those of you who find Break Point Trades a poor service, I can only say that you do not fully appreciate what they offer. Break Point Trades is very good at what they do. I have been following them for 10 years and they have improved immensely over that period. And yes that means changing their strategies and systems. If you have any trading experience you know that the game is constantly changing and unless you make adjustments you will not win. I spend over 20 hours a week looking at charts, as well as reviewing their news letters. It's a job I take seriously and unless you are willing to commit to it don't waste your time. There is no magic in trading. Just hard work. Break Point Trades is a very useful service

    -1 Votes
  • Jo
    john trader 1 Apr 10, 2014

    Complete crap. Every time their system misses a trade they curve fit it again. 96% win rate my ###. Goldman Sachs would have these idiots working for them if they could do this. Just looking for suckers. They can't trade so they sell stuff. Think about a while before you waste your money on this hogwash.

    2 Votes
  • Ma
    Max_1976 Feb 28, 2017
    This comment was posted by
    a verified customer
    Verified customer

    Yes BPT is a waste to say the least, they lie all the time, look at Steve Nelso, he always says things after the facts, he will take a chart and basically describe what the chart is doing, like I dont have my eyes to see if the chart is up down, and where the averages are. He is a joke, look at his story plays, like HCTI, SVLT, ALLM among others, they are all going to zero. He is a joke and a lier, he pumps stocks like Barry Davis since they basically promote the same thing. Matt is another guy who is lost, not sure why anyone would pay and waste 1hour a day to listen to chart story when i can see everything myself. If they said based on this the probability based on history is X% to go up and down tomorrow or this week, then I can see a value, but taking a plain chart and telling that SP closed at 2050 and moving averages at close to 50DMA, its a joke for #### to follow. Trust me, I know few people who lost a lot of money with these ###s, starting from automating ES future trades from Matt, to Steve Nelso bull ### plays like HCTI and SVLT, to name a few. But hey, once he has a stock that goes up, he will remind you he was right for the remaining of the year! Get rid of them, no value what so ever

    0 Votes
  • Pi
    picolo Sep 21, 2020
    This comment was posted by
    a verified customer
    Verified customer

    All the negatives reviews are totally true, very simple analysis, you can find the same at stockcharts.com on free public list, but the most amazing;is the matt's different automated systems, who are completly dumbs i thing they are at the image of their creator.If you want to go broke follow them, they take trades whitout any stop and ride the loosers for ever(Matt dont want any looser in the statement it will give a bad looking to his crap, but doing this is very dangerous).Those crooks are supposed to teach.By the six months i have been there, i saw the spy system with 10k profit for many years of trades wich is not spectacular, but in the big flush of the month of march those profits totally vanish, wow what greath trader they are, i just cant imagine how some people can trust them.Matt also has the spy option system...can you imagine how down that system was...unreal 4 times down the spy system, so if you took the trade your broke..So stay away of them or you will regret big time.

    0 Votes

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