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I’ve paid C2 well over $30,000 and that’s just the 30% portion they take in the time I’ve been here. Now they want more? I guess greed is good. Yes I’ve made money but damn that’s a big increase. They want 40% now for TOS. And it’s worse for the guys that aren’t TOS. They want half of what they make. That is beyond greedy. I’m sure they’ll take this post down because God forbid someone say something bad about C2. They always take down posts that aren’t in their best interest even if there’s no name calling or anything unprofessional going on. They simply don’t like the content and opinion of others if it doesn’t agree with them.
They normally send trade leaders payments to PayPal. PayPal started charging me 3% on what they would send. Obviously it’s a significant amount if the amount you receive is large. I called PayPal and asked about this. This is exactly what PayPal told me. C2 has the option to send payments from their bank account. If they do, I don’t get hit with the 3% additional fee. But they said C2 is using a credit card to send me payments. Probably to get miles. So PayPal asked me to ask C2 to send from their checking account instead. Nope C2 wouldn’t do it. So I opted for the check in the mail for a $10 fee instead. They’re already making a cut and now they want to use their credit card instead of bank account? PayPal gave him the exact person’s name on the credit card used to pay me. I was like take $10 and send me a check. Don’t get miles on my behalf and have me paying a 3% fee for you to do so. On top of the 30% at the time.
So on all fronts they’re trying to skim. Now they want to go to 40% for TOS? They should go lower for TOS and higher non-TOS to give incentive to TOS strategies.
Hey good luck. I don’t need the money that bad. Regardless of what you think of my strategies, C2 will lose talent. Or at least good talent that’s considering coming here would be dissuaded from doing so. Hey it’s their business and their right to raise prices. Consumers and users of the platform will make that decision for them with their wallets. Might be a smart business decision. Might be a not so smart business decision. If no good talent comes to C2 then investors will start to look elsewhere also.
From what I’ve seen, they’ve raised prices with no significant improvement to the platform steadily. Actually some mentioned some good features taken away all while raising prices. So the product gets worse and more expensive? That’s kind of funny.
Hey when a business is trying to take every little amount of revenue that comes in that doesn’t leave much room for users of the platform to make a decent profit. After taxes on the revenue what are trade leaders left with?
It’s been nice being here in the time I was. Good luck everyone.
Well yeah. Or give TOS strategies more incentive by going 20% TOS and 50% non-TOS. Or if they’re allowed by their regulators a reduced fee for performance but I don’t know if that’s allowed.
Another -7.5% if the customer refused to subscribe the developer pays. Excellent. This condition must be removed. The client signed, the client refused - let him pay for the return. Why should a developer pay from his pocket?
This is a great idea. Would probably help get rid of the scammers.
I was thinking of coming back with TOS system. But it does become prohibitively expensive if you don’t have a large account. For instance, I have a $10k account I run my forex strategy in at OANDA, my play money (other savings goes to paying off mortgage).
TOS makes you go “premium”, so there is roughly a 10% loss per year on my end without doing anything. I decided against it for that reason. The 40% haircut now makes it an ever easier decision. Just from my end.
Scammers will stay. They look at it as money. Maybe less money but money nonetheless. It’s the real guys that aren’t scamming that will have an issue with it. Scammers will take what they can. That’s not going to give any scammer incentive not to scam and stay. They’re happy just making something.
Doesn’t matter how much C2 will charge trade leader, scammers will stay if it will be a demand on easy money. Check results of topic starter strategies and check how many money did he earn on C2.
I am fine with the change if it is really what is needed to keep C2 going strong. In the email that was sent out warning of the change I noticed that there was reference to the fact that C2 lost a number of customers in the February crash from over leveraged systems. Yet on the same day I read an email from C2 promoting a highly leveraged system that by their own words they could not quote the returns due to risk of regulation wrist slapping. That seems a little inconsistent to me. I will say I like that they are giving some more benefits of going TOS and I think that trend should continue.
@O5355p You are saying that you have charged customers over $100,000 in the roughly nine months that you have been here? That is impressive and surprising. I would probably be upset too if the change affected me by so much. Overall I don’t like the change but in light of the situation I can see how it makes sense.
Background reason given was february crash affecting C2’s bottom line on account of reduced customer base. Now, when C2 is back on track , will they revert it back?
I guess this decision means systems will become expensive?
I think I had over 60 subscribers at my peak. Maybe high 60s or around 70 total. I don’t have that many now but I was definitely pulling it in. That’s across all strategies combined. Most with a $500 monthly fee and a few with a $1000 monthly fee. All with paying subscribers. So yes it was significant.
It makes no wonder, just remember Simplicty trading etc. Who produced huge losses.
Doubt those customers would ever again go to managed accounts.
So, C2 just trying to survive. I hope that they do.
But when looking at other sites also, it seems to me market is getting really hard.
In way that almost 90 % of systems crash or produce DD above 30% in 6 or more months.
I’m down to 15 subscribers on Payoff Matrix and Backward Induction combined. At $500 a pop not worth it. Then there’s the private select strategies at $1000 a pop. Since they’re private I won’t provide stats on those but there’s a few people on those 3.
Either way not worth it for me. Even with 20+ subscribers still not worth it to stay. I’d rather give it up. Give up that revenue. 30% is already a ripoff. 40% is just a deal breaker.
The fact that C2 wants to make back their February losses from customers just isn’t going to fly with some. I’m sure I’m not the only one not having it. Sometimes a business just has to downsize. If that’s what it takes to recover so be it. Charging customers more doesn’t seem like a sound business strategy especially if customers are already leaving. They risk driving some others away also.
If a developer is making enough to make it worth their while can they not just upgrade to professional and pay one flat yearly fee? It seems like you could have just paid one yearly fee of about $3,600 and then kept the other $27,000? Seems like a great deal. Much cheaper than starting your own hedge fund. Seems like you may be making some rash decisions.
