MCI StarTrader

[Plotloss]

Anyone come accross this?

I've got a mate whose father has been taken in fully by the spiel.

£3500 for the software (apparently with a money back guarantee)

He downloads the stock market form and apparently it makes suggestions as to what/when to buy.

Sounds like utter shit to me but I dont want to see my mate and his dad lose his shirt...

[dds1]

very probably utter shite, it will probably be a basic stat arb model, 5 years behind the times, as most of these sort of products usually are.

If it was that good, surely the owners of the software would be billionaires and have no need to sell it

[Plotloss]

Its owned by a publically traded company.

There cap is 64,000 shares at 64 Aus Cents each.

So for his license fee he could have acquired 33% of the company.

This doesnt look good...

[cinque]

You'd be far better off putting the 3.5k towards a 'start up fund' & punting the market yourself. Tell him to trawl the financial sites (ft.com a good one to start) & put in the research/background work himself if thats what floats his boat. Its not difficult & all the info is readily available.

Ive seen more of these statistical/program trading platforms than Nigerian money scams AVOID.

>> Edited by cinque on Thursday 21st April 14:30

[off_again]

Having supported several information distribution companies who do financial data, you dont get anything for nothing. You want the real data, it doesnt cost £3500.....sorry...

[FourWheelDrift]

Does it turn base metals to gold and make the tea?

If software could do it on it's own lots and lots of very higly paid traders and investment experts will be very quickly redundant, so I guess it's a no

[julianhj]

A good mate of mine (also a PH-er) works for a big company supplying stock market data and all sorts of analytical wizardry. It costs clients hundreds of thousands a year, I gather. I recall him telling me that a client wanting him on site for the day would need to fork out £1500!

[dick dastardly]

Following a quick google on MCI StarTrader
it appears that there are some bad reviews. The product is sold in the US as 'Go Gecko' and is obviously aimed squarely at the get-rich-quick market. Some people claim to have bought it for £500.

I'd advise your friends old man to stay away from it.

[Plotloss]

I've said all this but blind faith and optimism is the order of the day it seems.

The data is being paid for by subscription and he is paying £15 a month for it. Which by the numbers above is slightly worse than comic.

In fact its starting to look worse than bad.

I've said to invoke the money back guarantee clause but he is having none of it.