98 Percent Winners is a property of Douglas Cmelik. This website masquerades as a stock-picking service where subscribers pay to receive ‘profitable’ trading signals. But is it true that their signals are successful 98% of the time? We doubt those claims.
As a matter of fact, 98 Percent Winners is a fraud that thrives on fake trade history. Even though Douglas Cmelik is a former registered investment advisor, his reputation is not pleasing.
First off, he used to work for Ameriprise company where he was fired sometimes last year for talking older people into investing their life savings on worthless penny stocks which would then cause them to suffer massive losses.
Furthermore, this guy has a long history of working at shady investment companies. On top of that, he has a long history of regulatory sanctions and fines imposed on him.
Therefore, 98 Percent Winners is just a trading service offered by a certified financial fraud. If you want to know more about this website before making a decision, continue reading this review.
Their Signal service is delivered through text message and via a Twitter feed (Twitter.com/98PctWins).
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If you want to keep receiving signals for 3 months, they will ask you to pay them $498. If you want to receive signals for 6 months, you will pay $998. And finally, if you want signals for a year, the website will ask you to subscribe to their $2,000 worth of package.
98 Percent Winners does not provide monthly subscription option — which is a good way of ensuring that the service is profitable to the owner. On the other hand, you will always be disadvantaged in this kind of arrangement.
98 Percent Winners first appeared on the web in 2014. Complaints against this company started coming in between 2016-2017.
Half of the consumers who were complaining about this service were basically asking us to do an honest review of 98 Percent Winners signal service. The other half were complaints from customers who were dissatisfied with the service.
At one time, 98 Percent Winners was offering their signal service with a money-back guarantee — which they failed to honor. How do we know this?
Well, past users who did not get satisfied with the results asked for their money back. But when they did so, they never got a refund despite a money back guarantee policy being in place (at the time).
As always, shrewd websites have to drive their point home by making outrageous claims.
For example, 98 Percent Winners alleges that the past trades on their website are real and authentic because they were verified by Timothy Sykes through this link– Profit.ly.
This guy has a bad reputation as well. Reports have been floating around the internet about how Timothy Sykes is ripping off average investors using his dishonest reporting service.
This page 98 Percent Winners.com/track-record is simply ridiculous. You can also check the screenshot below to see what we are talking about here.
These results were apparently tracked and verified starting from 2013 all the way to 2015. This page is supposed to be treated as 100% verifiable track record of winning trades. The page also claims that traders were able to make a profit of $199,866, cumulatively.
Now, in the year 2016, 98 Percent Winners started posting trade results directly on their website instead of using Timothy’s reporting service. These ‘100% verifiable” trade results produced a profit of $730,000.
These claims are obviously a red flag, so we had to review the spreadsheet again to ascertain whether or not it was possible to win 98% of the time.
The blame goes to 98 Percent Winners because after reviewing that spreadsheet, we found that these claims were inaccurate.
If you’re reading this and are up for a little bit of humor, you can view the alleged 2016’s trade results here — 98 Percent Winners.com/2016-results.
From that table, it’s very clear that these trade results aren’t real. It is not possible to achieve a 100% win rate.
A disclosure on a signal service website is supposed to highlight whether trade results are real or hypothetical.
If hypothetical disclosure is not provided, then it is assumed that the trades are real.
It’s also important to realize that if hypothetical disclosure is not provided, then it means that the website deserves a civil injunction or a heavy fine for that matter. The bottom line is that it is illegal to operate a signal service without publishing performance disclosures. Only scams work like that.
A website like 98 Percent Winners comes across as a total joke. At first, we were led to believe that it was probably owned by a high-school kid who was looking to make some money out of a petty hustle.
Then it dawned on us that 98 Percent Winners was actually a serious business whose owner was looking to cheat unsuspecting investors with the intention of defrauding them.
The details of the owner are as mentioned at the beginning of this article. We must admit that our initial perception of this website was misguided. We were wrong when we under-estimated the power of this website.
When we investigated 98 Percent Winners, we found that it was owned by Douglas Cmelik.
The website lists their official address as 805 O Street, Suite 122, Lincoln Nebraska.
Close inspection reveals that this address belongs to a reputable company known as Ameriprise Financial.
We were actually surprised when we realized that the phone number that Ameriprise Financial used is the same phone number used by 98 Percent Winners website.
Ameriprise Financial is actually a well-respected company — just in case you didn’t know. So we were very shocked at the audacity of this man. This guy does not fear a lawsuit.
Now, the real Dough is a shady financial advisor since 1997. This means that the dude has been peddling all sorts of investments products for a long time.
We looked him up on Finra and realized that he has already suffered some hefty fines and sanctions in the past.
For instance, in 2011, he had to pay damages worth $7,580. Reason, he tricked an elderly man into investing in a fake penny stock business.
The same year, he paid damages worth $9,773 for tricking yet another elderly man who lost money in his hands as a result of tricking him.
Then in 2013, he was fined $110,000 damages for tricking yet another elderly man where the victim lost a huge sum of money to a company called PEI.
There are many similar cases that have tarnished his name before. We were not able list them all.
Now, you can see why a wolf can never keep watch over the hen-house. His looks and stature is quite convincing. He can ‘ advice’ you on which stocks will go up and which ones will plummet. However, his trusty smile is quite deceiving. The same thing applies to his 98 Percent Winners website.
Good thing, Ameriprise Financial basted the moron and fired him right on the spot.
However, before this happened, this guy had convinced some 65% of the company’s clients to invest in his fraudulent schemes.
Like all other scammers, he moved to another company called NDX Trading. It turns out that this company too is a scam. They were shut down for allegedly fleecing elderly investors. This story was highlighted in the Wall Street Journal.
As always, our financial turd master had to do something to survive. So he started the fraudulent 98 Percent Winners website.
There are many more scams like this one. To stay safe, you’d need to follow our advice especially when we recommend products on this website. Take them seriously because people like Douglas Cmelik are not going to stop defrauding investors any time soon.
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