Broker Arbitrage
Complaint 330260 Details

I am writing this complaint to inform others of the scam called Broker Arbitrage. I bought the product back in June of 2014. It was a product designed to trade Forex based on two broker feeds. Since price feeds can be different all over the world at the same time trades would be made based on the difference between two price feeds. I ran the system on a demo account largely because I had been defrauded by Robot claims before. I ran it for two months before I put it on a live account. It did well on a demo account and so I put it a real account. It did well for a month and then it started getting bad trades. It wiped out an entire month of profits in 4 days. Then all of a sudden I started getting authentication problems. The robot would not authenticate and so I was not able to run the system. I contact Mark Reid, but he was slow in responding to the problem. He asked me all kinds of questions that were not helpful. Then after three weeks of problems he finally went in to my VPS and said that my system was corrupted by some kind of worm or virus. So I had to have my entire VPS rebuilt and start to install everything over again. I asked Mark Reid why it took so long. Mark had taken three weeks to basically give me an answer that he could have given me in two days. And so due to poor customer service I wasted three weeks of being down. In hind sight it may have saved me a lot of money by not having the system running.

This is just one side of the story. The other side was that during the time I had the system running on a demo account I was amazed at how well it was trading. So I decided to promote the product and sell it online and make a commission for the sales. As a result I was making contact with people all over the world who were interested. But Mark Reid had set up his sales in such a way that anyone using ATM Visa cards to buy his system would not be able to process the purchase from the U.S They had to use their visa charge cards to buy it. That meant that they had to process the purchase through another clearing bank and I did not get credit for the sale. So even though my promotions on the Internet brought customers I was not getting credit for the sales. It was very frustrating. But as a result of my promotions I had contact on Skype with people all over the world who had bought Broker Arbitrage. I ended up on Skype for hours on some days just helping people because they were losing money with the system. They were describing problems to me, but at the time I was not experiencing these problems. But then all of a sudden the same problems started hitting me.

Broker Arbitrage does not perform the way it claims to perform. It will perform well on a Demo Account but when you put it on a live account things start to happen. Mark Reid recently tried to get a friend of mine to stop his request for a refund on the product by sending him a statement that claimed he had turned $5000.00 into $262,000.00 in 98 days. You will find these kinds of claims on his web site as well. But these claims are not true. When I confront Mark Reid with this disparity and ask him why so many people are not getting these results there is silence. He never responds to the question. I have confronted him many times and he just goes away and I never get a returned email. I ended up losing my original purchase price which was $500.00 because the 90 day refund period had already expired. I would have not had so much trouble except Mark Reid has such poor customer service. Mark Reid knows his system is a fraud. But he keeps selling it online. I now call it Sellers Arbitrage. The seller sells you pipe dreams and hopes that the refund period ends so he can keep your money. The amazing thing is that people like Mark Reid can be in business and cause so many people to lose time and money. I was told that the FBI and local law enforcement will not even look at a case unless the claim is for more than a hundred thousand dollars. And so people like Mark Reid can just steal small amounts of money every day and they don't have to worry about anyone calling them on it. I don't expect to get my money back. I just want to let others know what is going on with Mark Reid and Broker Arbitrage. Stay away.