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Address: 7429 Spring Hill Dr, Spring Hill, Florida, United States, 34606-4348
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Address: 7429 Spring Hill Dr, Spring Hill, Florida, United States, 34606-4348
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I paid for Lifetime access to the TradeStops product. I now find there is a substantial annual maintenance fee that diminishes its value to me.
In December of 2019, during an on-line promotion, I signed up for Lifetime Access to TradeStops, a Tradesmith product. At the time, I thought I was paying the $2999 upfront fee to avoid paying the recurring $79/month fee, subject to future increases, for access to the website and other resources. My current credit card statement however shows a charge of $299 to SR Tradesmith.. When I called the billing department, this charge was identified as a yearly maintenance fee.
Since I signed up over the internet, I cannot go back to see if this $299 yearly fee was identified. But if I had seen that amount, I am certain I would not have signed up.
I am now in the position that if I do not pay the yearly fee, I will immediately lose all access to the product for which I paid $2999 for lifetime use.. I called TradeStops to see if I could negotiate a reasonable exit from the lifetime membership. I offered to pay the monthly fee for the months I have used the service in exchange for return of the balance of the lifetime fee. The representative refused but did reduce the current annual fee to $199 with no protection from future increases.
Tradestops is a high quality website that delivers what was advertised. The Customer Service representatives were responsive and courteous. However I strongly feel that the on-line promotion focused on the financial benefits of the one-time cost without considering the annual fee, and I don't believe the product is of sufficient value to me with that annual fee.
I would like to have no (or possibly a fixed nominal) annual fee going forward or the opportunity to exit with some of the lifetime cost restored.
Contact Name and Title: *** S.
Contact Phone: XXX-XXX-XXXX
Contact Email: ***@tradesmith.com
I have attached the order form completed by the customer when she placed her online order for TradeStops Lifetime on 12/12/18. In the paragraph above the Customer information, it is clearly stated "To continue benefitting from your Lifetime subscription to TradeStops for as long as you're in the markets, you're only commitment is an annual maintenance fee of $299 to ensure data integrity and access to upgrades." When the customer contacted our customer success center on 1/6/20 we lowered her annual maintenance fee to $199. Her maintenance fee will be locked in at this price going forward. In addition, on 1/6/20 we refunded her $100 (of the $299 charged on 12/13) so she was only charged a net of $199 for the 2019 maintenance fee as well. We feel that this is a fair resolution to the concerns brought forth by the customer.
(The consumer indicated he/she DID NOT accept the response from the business.)
I tried to be fair in my complaint. I see that Tradesmith has responded by reiterating the facts as I presented them.
However, the response does not address the source of the issue which you may note in the header is the advertising. The series of emails to investors who use Advisor Investments emphasized the urgency to take advantage of the offer before midnight. During the email campaign to encourage people up to sign up for the Lifetime membership at TradeStops, I don't believe the yearly maintenance fee was mentioned, particularly the yearly amount which is annually 10% of the lifetime cost! As a result there was no reasonable opportunity for perspective clients to evaluate fairly the lifetime offer itself or even whether or not the regular monthly fee of $79 might be a better choice for them. Incidentally, the lifetime offer was later extended well beyond the original deadline.
I do not see the attachment that Tradesmith mentioned. In any case, the signup was done on line so I can neither confirm nor contest the accuracy of what was provided.
Given what I know now, I, simply, have asked Tradesmith to be given the monthly choice. Take from the lifetime fee and the $199 I have paid, the $79 per month for the months I have used the service and return the rest. This resolution does not seem to be acceptable to Tradesmith.
I have attached again the customers order form. The customer completed this order form when they purchased TradeStops Lifetime online. The order form clearly stated the annual maintenance fee that would be charged. The customer would've seen this text before completing the order fields to place their order. We have already offered a reduced maintenance fee and refunded part of this year's maintenance fee, which we believe is a fair resolution.
(The consumer indicated he/she DID NOT accept the response from the business.)
TradeSmith has not changed its response. My hope is that Revdex.com will make this complaint available to other potential customers. Thank you.
We feel we have honored the customers request that she would like to have no (or possibly a fixed nominal) annual fee going forward. We lowered her annual maintenance fee from $299 to $199 and even refunded $100 back on the maintenance fee charged this year.
(The consumer indicated he/she DID NOT accept the response from the business.)
We do not agree on what is a nominal fee. After paying a large amount for a lifetime membership, I would expect a maintenance fee to be something like $30 a year - not two or three hundred.
Tradesmith charged my credit card on November 5, 2019 in the ammount of $999.00 without my consent and authorization.
Tradesmith had been sending me email for several months in an effort to solicit a subscription for their services. I never responded to their emails or sought further information about their financial services products and services. I was not interested.
When I reviewed a credit card statement for November activity, it revealed that Tradesmith had charged my card for $999.00 on November 5, 2019.
I do not have any confirmation of this purchase and did not authorize this transaction.
I notified the credit card company- an American Express account managed through *** on December 7, 2019 that this was an unauthorized /fraudulent charge to my account
The *** fraud department cancelled my card and are pursuing this fraudulent charge with Tradesmith
I am seeking a refund to my account. A cancellation of a subscription I did order.
Contact Name and Title: *** S.
Contact Phone: XXX-XXX-XXXX
Contact Email: ***@tradesmith.com
This customer emailed us on 12/9/19 requesting a full refund of $999. On 12/9/19 one of our call center agents processed the refund in full and sent an email to the customer confirming that this had been done. The refund was processed by our company on 12/9/19 and the reference ID fo this refund is XXXXXXXXXXXXXXXXXX.
Lifetime membership commitments are fraudulently given.
This company and at least 3 companys associated with Richard S. ( TradeStops, TradeSmith, TradeSmith Crypto) all are involved in a scheme to take lifetime membership fees ( in excess of $5,000 per year).
These companys promise to give any updates to software, ideas, new publications etc to Lifetime subscribers for free.
But what they actually do is just start a new company and or brand with new ideas and market them to you as only available if you more subscription fees.
The Lifetime membership fees are a large investment in the confidence and abilities to have further improvements and ideas by the company. We have given them an investment, but we expect our faith and trust to valued, not just use our money to create and then start other brands and companies and tell we have no access to them because they are a different brand or company even while they all use Tradestops concepts, software etc.
This is Fraud!!
Honor the full committment made to lifetime subscribers by giving them all ideas, strategies as promised. Even if those ideas and strategies have been branded something else such as: Ideas By Tradesmith, Tradesmith, Tradesmith Crypto etc.
Contact Name and Title: Jyl S., Manager
Contact Phone: XXXXXXXXXX
Contact Email: ***@tradesmith.com
I called and spoke with the customer. I've explained that TradeSmith is the company and TradeStops, Ideas by TradeSmith, Crypto by TradeSmith, etc are our products. The Lifetime promise the customer referred to was a promise that the customer would receive any updates/releases, etc to the TradeStops tool that he purchased. He has received this since his purchase with the addition of tools such as Pure Quant, Updated Position size, etc. Customer acknowledged this. Explained to the customer that each product is unique. Each product may cover a different asset class, be used for a different purpose, have different math/formulas behind the calculations, etc. This is why the products have been set up separately. Each product can be used alone or in conjunction with our other product offerings. We do have a Platinum level subscription, which would give the customer Lifetime access to all of our products in addition to access to anything new we release at no additional charge. Platinum subscriptions retail for over $20,000. I offered the customer a discounted Platinum subscription for $5999. He was not happy with this resolution. So I offered the customer a free year of Ideas by TradeSmith and TradeSmith Trends. Customer was still not happy, but agreed to this. I have given him access to Ideas by TradeSmith for 1 year and TradeSmith Trends for 1 year. I've followed up with him via email as well, to confirm that these have been set up.
(The consumer indicated he/she DID NOT accept the response from the business.)
I was made to believe any and all updates, improvements and anything else Tradestops came up with at the time of my lifetime subscription in 2015. Tradestops was the only product that had ever been offered up to that point for years.
The same features and ideas that apply and would be beneficial to members of Tradestops are just being marketed as different names.
At the time I purchased the lifetime subscription 2015 I was offered the same thing as they are now calling Platinum. Why would anyone want to trust them when they do not honor the committments made at the time of purchase.
We offered this customer what we believe is a very reasonable resolution to this case. We are unable to give the customer any additional accommodations toward a Platinum Membership.
(The consumer indicated he/she DID NOT accept the response from the business.)
I only will accept what I was led to believe by their marketing when I subscribed as a lifetime subscriber. They were offering only a one year subscription to just one of the products I was led to believe would be included in my subscription. I only believe fair is delivering what was promised in marketing.
A lifetime subscription is a significant financial investment in a firm to help them. The trust shown should be rewarded with promises fulfilled. Not trying to rebrand and upsell.
refund of subscription not sent yet.
subscription
Draft
This message hasn't been sent.
Saved: Wed 7/3/XXXX XX:XX PM
I have written about cancellation
***
Thu 6/13/2019 4:31 AM
You; ***@exct.tradesmith.com
please cancel my subscription and reimburse the ammount which you have charged me.
thank you.
refund
We have searched for the email the customer said he sent us on 6/13/19 requesting a cancellation and we have no record that this request was received. We ran a trace on his email address from 6/13-6/15 and could not find any emails from him. The customer filed a chargeback/dispute with his credit card company on 7/18/19. On the chargeback he provided a reason of Cancelled Reoccurring. We disputed this chargeback because the account was on automatic renewal, which the customer had knowledge of. The dispute case is still open and is pending decision. Unfortunately, we can not process a refund until this case is closed. If the dispute is not resolved in the customer's favor, we would be happy to refund once the status of the dispute is final.
(The consumer indicated he/she DID NOT accept the response from the business.)
See attached email that was sent on 6/13/19 to cancel subscription.
***
Thu 6/13/XXXX X:XX AM
You; ***@exct.tradesmith.com
please cancel my subscription and reimburse the ammount which you have charged me.
thank you.
There is currently an open dispute (chargeback) on this charge with the customer's credit card company. We've looked into this and the case has already been sent to the issuing bank contesting the dispute. Unfortunately, we can not override the status at this time. As soon as the disposition on the chargeback changes, we will accept the chargeback so the customer will be refunded. Unfortunately, I can not provide an ETA on when this will be as we are waiting on a change in disposition on the chargeback.
Business Address :
Tradesmith
Richard Smith
Box 189
Brooksville , Florida XXXXX
My Address : ***
***
*** , *** . XXXXX
On April 5, 2019 at 5:38 AM Revdex.com wrote:
If you intended to use this email as a formal complaint, please provide us with complete mailing addresses for both you, and this business.
From: ***
Sent: Thursday, April 4, XXXX X:XX PM
To: Revdex.com
Subject: Complaint
I tried to use the "complaint form " more than 3 times and a Pop up appeared saying that if I had a problem with the website to contact you directly . So thats what Im doing .
A company called Tradesmith got a hold of my information . I read it and it said I had a certain amount of time to cancel. So I made several phone calls but no one kept their word and cancelled me .
Then I spoke to a lady named Candice last week and she promised she would cancel me . I don't want to be forced to be involved;ved in something I know nothing about .
I wrote Richard S. 4 or 5 times explaining what Im explaining to you and asking him to take me off the list . All of a. sudden instead of getting 1 email a day from him I get 2 and 3 sometimes 4 of a variety of things I know nothing about. I don't know anything about Dow Jones , day trading , stocks or anything of that nature . I explained to him over and over but he himself (personally sends me several emails a week ) ; at least 2 and 3 a day . I'VE SAVED ALL OF THEM FOR PROOF . HE REFUSES TO STOP EMAILING ME .
His name : Richard S.
Company : Tradesmith
His email : ***@exct.tradestops.com *this is where all my emails come from . Directly from him .
contact number : 866.385.2076
Can you reason with this man get me uninvolved in this ? In your expertise at settling disputes I figured you can convince him to stop bullying a 66 year old woman.
My name : Mrs. ***
Consumer
My email : ***@Comcast.net
My contact number (XXX)XXX-XXXX
I called and spoke with the customer and let her know that her email address has been completely removed from our mailing list. The last emails that were sent to her were on 4/4/19 and she should not receive anything else. I provided the customer with my direct contact information should she have any future issues and/or questions.
The website does not sync accurately with my trading account as advertised
The Tradesmith website does not sync accurately with my trading account as advertised. I have contacted the company numerous times over the last few months and it isn't resolved. My trading account balances in cash, Stock investments, etc.do not coincide or synch with their website. It makes the website useless to me as I can't reallocate my holdings per the service I am paying for.
I want the synching issue fixed IMMEDIATELY with my ETRADE account or I want my money back as I can't accurately use the suggested asset allocation that the business provides w/o accurate acct. syncing to my holdings within my trading acct.
Contact Name and Title: Jyl S, Manager
Contact Phone: XXX-XXX-XXXX
Contact Email: ***@tradesmith.com
I have called and spoken with Mr.. The issue was that the cash on his sync'd account was not correctly reflected. This was fixed this morning. While we were on the phone, Mr. checked his account and confirmed that after synchronization the cash now looks correct.
(The consumer indicated he/she ACCEPTED the response from the business.)
The issue with synching to my trade account was fixed several days ago by Tradestops as they had to fix an error with ETRADE.
My father, Bernhard Koker, has experienced the same issue with his ANZ Etrade not synching with his trading account as advertised. He has been corresponding with Raul by email since 18 April 2022. Raul has consistently informed him that he will investigate, only to email my father on 1 June 2022 advising that my father contact his brokerage as the fault lies with them. TradeSmith has also taken fees, despite being told to cease payments by my father. Our bank statements confirm f AUD $434.68 payment has been received by TradeSmith from our account, but Raul has denied receipt of this. He also now refuses to refund on the basis that my father has put a stop on further payments! This is outrageous. I am in my final term of a law degree and I will call upon my colleagues to take this matter further if it is not resolved.
I was charged for a subscription before I was given access to the product. This seems a systemic problem for all the subscriptions.
Tradesmith is in the investment advisory business. It provides services based on subscriptions. So far the services are Tradestops, Crypto TradeSmith and Ideas by Tradesmith. My specific complaint is about Crypto TradeSmith but their nar. business model is such that at least 80% of the users of any service would be affected.
Usually the services are launched by 2 hours webinars, starting at 8PM in an evening. Most of the orders are taken at the end of the webinar. After all the orders for the day are taken they are aggregated and a script runs to create the entries for the new customers in their databases, and an email is sent to the new customers to inform their of their new subscription, giving them login, password and website address information.
This script and the emails are sent the second day after the webinar, but the billing starts from the day of the webinar.
The first date a customer can access the service or know that he has the service is the second day from the webinar. The subscriptions are for 1 year. Since the billing starts one day before the service is provided, it ends after 364 days not 365.
To make the matter worse the subscriber has no way to know that his subscriptions expire 1 day earlier than what he paid for, so he cannot do any last minute administration related to his account in what he rightfully expects to be the last day.
Real example. Crypto TradSmith webinar on 12/21/2017 started at 8PM. After it ended I ordered a one year subscription by phone, price paid over $6000. I received the welcome message containing the access information the second day, on December 22nd.
Today, on December 21st 2018 I wanted to collect the information I would lose access to. Since this is volatile data it makes sense to do it at the last possible day. To my surprise my access was denied and I could not log in.
The representatives I contacted by phone told me that the billing started not from the time the service was provided but from the time the order was received, and that they could not do anything about it.
This might not seem like an earth shattering issue, except tht there are a few aggravating circunstances.
First, the service is so expensive that each day of access costs over $16.
Second this is a matter affecting most of their tens of thousand of customers for any of their services.
Third they could mitigate this unjust policy if they inform their customers when the billing for their service starts and when the service ends, so the customer could collect his data before, but they don't.
I want access for the last day I paid for but where I did not have the service. One day of access.
Contact Name and Title: Jyl S., Manager
Contact Phone: XXX-XXX-XXXX
Contact Email: ***@tradesmith.com
Mr. placed an online order for our Charter CryptoTradeSmith subscription on 12/20/17. On 12/20/17 we sent him a welcome email, which would have contained his account access information. His account expired at 12 am on 12/21/18, so he had a full year of access. On 12/27/18 at 9:15 am EST, we reactivated Mr. account, as requested in this Revdex.com complaint by the customer. The account will remain active through 5 pm EST on 12/28/18. We have left a message on the customer's cell phone and home phone, explaining that this additional day of access has been granted.
(The consumer indicated he/she ACCEPTED the response from the business.)
I disagree with the first part of the response but I agree with the rest. I received the email on December 21st 2017 at 1:33 AM, and if need be I can attach it to prove it.
However I did get the compensation access indeed, this is all I asked for, and I am satisfied with this.
So the problem I mentioned was real, but it was handled to my satisfaction, so the problem was solved for me.
I assume that now that the company is aware of the problem it is not difficult to solve it in general, and I expect this is happening.
At first I thought this service was the best thing since sliced bread. No longer! This company has no morals. They recently sent out many, many sell alerts in error, didn't contact users until well after the users could use the information that the sell orders were in error, then let them know that it was their own tough luck they followed the sell orders that they had issued. I lost thousands because of their "error". This is not the type company you should be dealing with if you want fair and timely investment advice.
This customer emailed us regarding his concerns on 12/21/18. On 12/26/18 we responded to his email. We apologized for any stress and inconvenience that this issue may have caused. We explained the reasons behind the event that occurred and also shared the steps we are taking to prevent this from happening again. As per our Terms of Service, "Subscribers to TradeStops are responsible for their own actions. While every effort has been made to assure reliability, TradeSmith assumes no liability in connection with its use or application. TradeSmith, its officers and employees are not responsible for errors or omissions." and "If notwithstanding the above you take any action or decision to buy or sell any securities or other financial investments, you do so entirely at your own risk and Tradesmith assumes no liability whatsoever for any loss, damage, costs or expenses incurred or suffered by you as a result." This being said, however, we understand that customers do rely on our program and it is a responsibility we take very seriously. We appreciate our customers and we want to ensure that we provide the best value for each and every customer. We offered this customer an account extension as a gesture of goodwill, which he has accepted.
After viewing several of the company founder's online videos (promoting the company service), I paid $3,995 on June 1, 2017 to the company for their "Lifetime" membership. In the videos , the company founder mentioned a "nominal" annual maintenance fee for the "Lifetime" membership. When I signed up online, there was no annual maintenance fee mentioned at all. Fast forward to May 2018, I was informed by the company that I will be charged a $399 fee as the annual maintenance fee, which is 10% of my original membership fee and NOT nominal as the company founder stated.
This business is dishonest and did a bait and switch on me regarding the annual maintenance fee. I refuse to pay the outrageous annual maintenance fee and the company threaten to suspend my account and cancel the service.
Product_Or_Service: 6/1/2017
Account_Number: SACXXXXXXXXXX
Refund I am requesting a prorated refund in the amount of $3,596 ($3,995 - $399) from my "Lifetime" membership payment.
Contact Name and Title: Jyl Shute, Manager
Contact Phone: 352-848-3312
Contact Email: ***@tradesmith.com
Ms. signed up for a Lifetime TradeStops membership on 5/31/2017 via an online order form. TradeStops is a web-based stock tracking and alert program that synchronizes and tracks online portfolios to empower individual investors to enjoy managing their own investments. The charge that she is disputing is for her annual maintenance fee, due on 5/31/2018. Attached is the online order form that she would have completed to place her order. The subscription she purchased had a 60 day money back guarantee. The form states, "If for any reason you decide you aren't completely satisfied with TradeStops, just call within the first 60 days and we'll refund your subscription fee. No questions asked.". Ms. did not contact us in this initial 60 day window to request a refund. In addition, the order form clearly addresses the fact that there will be an annual maintenance fee stating, "The only other thing you'll pay is an annual maintenance fee of just $399 to cover our stock data feed costs. But this maintenance fee won't kick in until next year." I have attached an email correspondence where we explained to Ms. that we could not refund the charge from last year as the 60 day refund period had lapsed. Her internal ticket number is XXXXXX.