Too good to be true?

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Benadix

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Have been cold called by a "trader" from Global Investment Group. Suggested that I could make a handsome return by buying call options on the USD/EUR XR movement over the next 4-6 weeks. Expects a movement of up to 6C., although also suggests buying a lesser amount of put options for "protection". Have no experience of forex - have always stayed clear of it in the past as being too risky. Thus whilst on the face of it the returns appear attractive - my gut feeling is that this is similar to a shares "boiler room" scam - I'm likely to loose all my money & the "trader" trousers the commision, which @ Euro 100 per option would not be a small sum.

Anyone have any experience of "Global Investment Group" - they're based in Luxembourg?: www.globalinvestmentgroup.info
Am I right to be suspicious?

Any advice much appreciated!
 
Too good to be true?

Of course it is.

Why would you want to give these people your money when you can do the trades yourself.

"USD/EUR XR movement over the next 4-6 weeks. Expects a movement of up to 6C"

What the hell is XR and what is 6C?
 
Benadix said:
Have been cold called by a "trader" from Global Investment Group. Suggested that I could make a handsome return by buying call options on the USD/EUR XR movement over the next 4-6 weeks. Expects a movement of up to 6C., although also suggests buying a lesser amount of put options for "protection". Have no experience of forex - have always stayed clear of it in the past as being too risky. Thus whilst on the face of it the returns appear attractive - my gut feeling is that this is similar to a shares "boiler room" scam - I'm likely to loose all my money & the "trader" trousers the commision, which @ Euro 100 per option would not be a small sum.

Anyone have any experience of "Global Investment Group" - they're based in Luxembourg?: www.globalinvestmentgroup.info
Am I right to be suspicious?

Any advice much appreciated!
Click to expand...

Engage brain!

WTF would somebody call you up and tell you how to make a fortune for nothing in return?

There's one born every minute I believe and they are soon parted from their money.
 
Hi Options:

To answer your questions - XR = Exchange rate, 6C = 6 cents $0.06
Yours & Rols opionion pretty much confirms what I thought it was - just another scam
 
Benadix said:
Am I right to be suspicious?

Any advice much appreciated!
Click to expand...

Be suspicious of any promise of returns a lot higher than risk free returns (bonds, etc). If they knew for sure why tell you and not take advantage of it themselves? This is the fallacy involved.

Also, many times just the opposite will happen since most of these people who cold call try to find the "other side" for a big upcoming unloading of position.

Alex
 
look at their domain name

they cant even afford to buy .com domain :p

yup too good to be truth
 
also been contacted

hello i have also been contacted by the same company by a broker last week who then asked me to speak to a senior trader. now i have been down this road before and i new what was coming, after loosing £50,000 to a scam before, obviousley i went in with my guard up asking for legal information and i did my google checks finding this message board,i did my checks and the kanton zurich website is legitimate and i was suprised to hear that global investment group dont recieve my money like all of the other scams ive been a part of which did make me feel better i cant be sure if this is 100% safe butcan we about any investments now adays? i will let you no what i decide to do when a senior trader calls me back on thursday
 
options said:
Too good to be true?

Of course it is.

Why would you want to give these people your money when you can do the trades yourself.

"USD/EUR XR movement over the next 4-6 weeks. Expects a movement of up to 6C"

What the hell is XR and what is 6C?
Click to expand...

I agree with options.
 
service

because i own 2 companys and cant watch this market and be with my family 24hrs a day i need a team of people working around the clock to do this, anyone who says they can do that without the service is too sad or lonely for my liking, i have family too!
 
nicktaylor said:
because i own 2 companys and cant watch this market and be with my family 24hrs a day i need a team of people working around the clock to do this, anyone who says they can do that without the service is too sad or lonely for my liking, i have family too!
Click to expand...

Feel free to go lose another £50k then to a bunch of people who couldn't give a s**t about you or your family :rolleyes: .
 
nicktaylor said:
because i own 2 companys and cant watch this market and be with my family 24hrs a day i need a team of people working around the clock to do this, anyone who says they can do that without the service is too sad or lonely for my liking, i have family too!
Click to expand...

might be worth you requesting any fund managers on here to see if they have space to get your 50K working for you. ? not sure if there are any , or what return you expect. Why not drop it in a fund ?
 
u got it wrong

ok well thanks for the advice i found it helpful

however ive completed my checks and this company stands up through independent sources like kanton of zurich and two other companys more than some invetments i have currently so i will be trading with them as the euro is breaking all time highs, even spoke too two clients of theres thank god there are some straight arrows out there!
 
Last edited:
nicktaylor said:
hello i have also been contacted by the same company by a broker last week who then asked me to speak to a senior trader. now i have been down this road before and i new what was coming, after loosing £50,000 to a scam before, obviousley i went in with my guard up asking for legal information and i did my google checks finding this message board,i did my checks and the kanton zurich website is legitimate and i was suprised to hear that global investment group dont recieve my money like all of the other scams ive been a part of which did make me feel better i cant be sure if this is 100% safe butcan we about any investments now adays? i will let you no what i decide to do when a senior trader calls me back on thursday
Click to expand...

youve done 50 large to t*ssers like this before and you consider for more than one second about investing money with another mail order/cold call outfit youve never heard of before again. im tempted to say you deserve to lose youre money.
 
thank you

did you not see ive completley done my checks with regulatory bodys FA's and everybody else and its ok!

If i were you i would ring a forex broker and buy euros and make some money
 
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nicktaylor said:
did you not say ive completley done my checks with regulatory bodys FA's and everybody else and its ok!

If i were you i would ring a forex broker and buy euros and make some money
Click to expand...

Regulation by FSA etc. basically gives FA assurances about honesty, likely performances etc.
If you ask me, with your cavalier/dismissive attitude of everyones warnings so far, you seem to be deluding yourself somewhat, as though you can't wait to hand over your hard earned spondluli to them.
But, what do i know, go ahead, make THEIR day!

Are you sure you're not just tempted by this good sounding advert, because you're desperate to somehow recover the £50k the last set of scammers took from you?
And as a result, you are perhaps not thinking as rationally, and objectively as would be desirable?
If so, can you see that as a consequence of this, losing another £Xk is a real possibility?
 
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100%

i understand 100% but i have done my checks they havnt so how could i possibly take their advice until they have investigated like myself? does that not make sense?

in my honest opinion i think those people never actually have the courage to put their hand in there pocket and say i understand the risks involved with the investment like any investment and say i will give this a shot!

Too much time bantering about companys ALL companys has corupted their judgement so the gut feeling they have as with any gut feelings all the facts and evidence will be biase to that feeling!

too much time on here rather than in the markets

but thnk you for your help jtrader
 
Do you know ANYTHING about options?

Do you know what volatility is, how it works and how it effects the price of an option.

If no to either of those above your new brokers are going to be licking their chops when they take you on as a client. And when you lose money you'll only have yourslf to blame.

Sorry to sound harsh but you deserve it especially after you're already lost £50k to a load of scammers before.
 
i know probably more about options than you my friend time value volatility leverage expiry puts and calls risks involved and i love them ive now spoken to a client of theirs and he is making money so thanks for the advice but im now liking my chops
 
nicktaylor said:
i know probably more about options than you my friend time value volatility leverage expiry puts and calls risks involved and i love them ive now spoken to a client of theirs and he is making money so thanks for the advice but im now liking my chops
Click to expand...

:rolleyes: don't say we didn't try to tell you
 
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