Pgi

This is a discussion on Pgi within the First Steps forums, part of the Reception category; Hi All, This is my first message on a forum, so I'd appreciate a bit of slack, in case I ...

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Old Aug 26, 2008, 5:07am   #1
Car
Joined Aug 2008
Pgi

Hi All,

This is my first message on a forum, so I'd appreciate a bit of slack, in case I make an error. Though, if you give me too much rope, I may end up hanging myself.

I'm wondering if any one out there, has heard of Prosperity Group International Pty Ltd (PGI). They are an Australian company and support people Index Trading. Iv'e just come accross them and would be interested in any independent information about them.

Thanks for any help. Don.
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Old Aug 26, 2008, 9:16am   #2
 
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Welcome to the forum Don. Can't help with PGI unfortunately but I'm sure you'll get a lot out of this forum.
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Old Sep 4, 2008, 4:39pm   #3
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Ok this is what I know about PGI. (Prosperity Group International Pty Ltd)

(I am trying to find out more myself about whether they are legit operation).

According to doc I have received from them:

They provide trade alerts for a number of different markets (FTSE, XJO, DAX, CAC, INDU and COMPQ). The advisories appear to be related to gets and puts in the different markets.

You initially pay a one time licence to receive the alerts via email/SMS. Depending on how much $$$ you give them you get access to advise relative to 2, 4 or 6 markets. The one time fee is AU$ is approx $7,700 $11,500 and $15,000 respectively. After you become a member you can be put on the waiting list to move to the next higher group. ie: If you are only receiving advice for 2 markets, you pay more $$$ and then move to 4 markets.

I assume after you sign up you get the ability to set up a trading acount (which you initially need to seed with funds). Only you have access to the trading account. You can either manage trades via email alerts and web trades, or you can apparently receive an SMS and automate a trade depending on what type of reply you make. You pay a monthly fee of $50 to keep the SMS's flowing.

They state in their docs Its actually a form of betting as you use their software to assist determine whether to predict a rise or fall. That way profits are declared as windfall and not taxable. They say they have a 82% success rate for initial predictions, and a system of doubling (like doubling in gambling) can be employed to recover from losses. They say the highest level of doubling that has ever occured with their system over several years is six. ie: If you initial consideration was $50, second would be $100 to cover, 3 is $200, 4 is $400, 5 is $800 and 6 is $1600.

In the information provided to me they included ABN, ACN and their bank account details.

At this point I don't know their physical office location (their PO box is on the Gold Coast at Bundall). The ASIC co records show they have been operating since 2004 and in March this year changed a number of company details.

I called them and did get a verbal reference to contact (an existing cutomer).

Sounds ok over the phone - almost too good - but there is very little information about them to check them out thoroughly - which makes me cautious....

Has anyone got any hard info on them .... I don't want to criticise them if they are legit but, they are not providing a lot of information about how they operate.

Where is their physical address? etc.

BB
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Old Sep 5, 2008, 8:41am   #4
Car
Joined Aug 2008
Car started this thread Thanks BB
I already have most of your information. Look on EC21, Global B2B Marketplace - Connecting Buyers with Suppliers for a good discription of their service. You probably realise, that getting a phone number from them, is not necessarily going to get you an "independent" view point. Although, getting independent info is always going to be difficult, due to the pool of that info, being so small.
You asked about their street address; Suit 1A 128 Bundall Rd, Bundall, Gold Coast, QLD.
I've got to say I quiet like the way it works. I learned a lot on another site BetOnMarkets.com - The smarter way to trade
where you can play with a virtual account, but if you know as little as me, I guess you only have a 50/50 chance of success.
I was hoping to come accross people who are active in this area. Sooner or later I guess.
Regards don
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Old Sep 5, 2008, 9:07am   #5
 
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Don, Maybe they are genuine or maybe they are not, I don't know, but think on. If this company went out of business for whatever reason sometime after you've paid, quite frankly, a ridiculous amount as a one-off fee for market alerts, where would that leave you.

If you are very new to trading, do a little more research about what and how you want to trade. Once you know what you want to do there will be plenty of members on this forum who can point you in the right direction.

If you still want to go down the route of paying for alerts then I'm sure there are threads that will advise on different systems. If not, just post questions on the forum.

Whatever you do, don't part with $7,700 to $15,000 just yet.

Good luck
Ken
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Old Sep 5, 2008, 2:05pm   #6
Joined Sep 2008
Don/Ken

Thanks for info and advice. I'm so busy during the day that having a system where I pretty much go with their recs and keep doubling up if they go south appeals to me. They say their members have historically 82% on first trade, and statistically over the last five years the most anyone has had to double has been 5 times to recover. Even on an initial outlay of $100, that would mean successively $200, $400, $800, and a $1600 trade to get back the original. Guess for this sort of strategy you have to potentially have big pockets to get your dough back if you have a bad run....

The EC21 entry is made by the co. I presume that the blog was entered by their CEO Jonathan King who states their employee range is between 50 - 100 and turn over range is US$10,000,000 - $50,000,000 per year.

Having said that there is still virtually nil about them and their system.

Without being able to check it out its a fair bit of dough for the initial entry. I'm still interested though so at this stage thought I might tee up a trip to their office and get a demo.

Maybe next week...

BB
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Old Sep 6, 2008, 12:07am   #7
 
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This system sounds like the road to ruin. BB, in one post you say the most times someone has had to double is 5 times. In another post it's 6 times. It seems you would be risking far too much of your capital imo, and the name of the game is to preserve your capital.
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