Why we’ve decided to go with a No Refund Policy
Cutting Edge Forex has put a great deal of effort into the development of all the software that we offer for sale. We truly want our members to be successful traders, and the EA’s traded by Cutting Edge Forex and all our members to be profitable. Our EA’s are long term investment strategies with normal periods of draw down followed by normal periods of recovery.
To be successful with long term trading strategies you need to be prepared to trade through the normal periods of draw down. Not just the recovery periods. Many traders are too focused on individual trades. The starting and stopping of EAs (or stopping and asking for a refund after a losing week/month etc…) will dismantle any long term trading strategy. Our EAs are long term systems with periods of draw down to be expected. It is healthy for long term systems to have periods of losing trades. In fact there are no long term profitable systems that DO NOT have periods of draw down or losing trades. If you find a system for sale that claims to be long term successful with no periods of draw down or losing trades, take your money and run! We offer quality systems that took years to develop. We believe in our research and development, not get-rich-quick schemes, or marketing tricks.
“No-questions-asked refunds” in our opinion are marketing ploys to lure unsuspecting customers into a quick purchase, without doing the necessary research required to make an educated decision.
On our site we try to offer enough information to analyse what system will be the right style for you. These sections give a potential customer (member) everything you need in order to do the research required to make the very serious decision to purchase our system -or- not purchase our system, if you find it to be out of your comfort zone.
There are a few other reasons why the refund policy has been structured this way:
1) We want people to take the time to educate themselves and then decide if our system is a good fit for them. We don’t want people jumping in and jumping out. This is what happens with a no-questions-asked refund policy. Policies such as this encourage “test driving” of systems and will never actually reveal the true nature of any long term system. For example, If a new customer (member) started trading one of our systems in the beginning of a recovery period, right after a period of draw down, they would be a “happy short-term trader”. If a new customer (member) started trading one of our systems at the beginning of a draw down period they would be an “unhappy short-term trader”.
The only way to be happy and successful in the long term is to trade through both the draw down and the recovery. This cannot be seen in only a day or two of trading.
2) We want to limit the number of members we have, because it helps keep the system more profitable for all of us. Having a no refund policy ensures we have a smaller group of SERIOUS traders. This will keep our systems profitable and safe from being targeted by big money traders and hedge funds.
3) When we did offer a “no-questions-asked refund policy” we had people asking for a refund after ONE DAY of losing trades that totaled less than a 1% loss of trading capital. These are not people making serious decisions. We ask that you read through all our available data and make an informed choice about the software, and the trading market in general.
4) We also had a number of people buy our system and attempt to crack it by posting it on public hacker forums with the sole intent of de-compiling and freely distributing our copyrighted intellectual property. Then they would ask for a refund. This behavior is unacceptable and strictly prohibited. Our no refund policy ensures that we are dealing with legitimate customers who are buying our systems to trade long term. It also protects us from those that are buying them simply to try and hack or de-compile the software to get a free ride.
The products we offer are long term investment systems with periods of draw down to be expected, followed by periods of recovery. Please read through all of the material on our website and make a serious and educated decision before purchasing.