Looking for opinions on this

B

brianlondon

Junior member
Messages
10
Likes
0
Posted a version of this in forex forum it occurs that maybe view of people with experiencing in trading other instruments might offer a view of this. Appreciate all feedback

just looking to sanity check the following and will suspend my intelligence and dis-belief until I get a view from those that know something about this subject.

Attended a seminar by company called cashbax - they have created a cashback loyalty system that will give a buyer 100% cash back on any item.

For instance I buy your house for £500k - I will receive £500K in seven years as cash back - or you could choose to take out a lesser amount anytime between year one and seven.

It works thus - I pay you 500k for your house, you were having a tough time selling it and instead of discounting you used cashbax as incentive....once house sells you give 20% of sale price to cashbax. Effectively £100k in this example as a marketing fee.... ( bear with me) -

Cashbax will - after seven years not only give the buyer £500k back effectively clearing their mortgage etc , but will additionally pay you the seller the £100k marketing fee.

They state that they can achieve this via relationships with top forex traders and believe they will profit because in the above example they will return far more than the £600k that they need to pay out.

So - guide me here.
Is it conceivable or even partially credible that this company can turn£100k into 650k
website is cashbax.co.uk or .biz for agents.

Really interested in replies to this subject
 
Good luck finding them in 7 years time.

So Mr A buys a house from Mr B for 500k. Mr B pays Cashbax 100k as a fee. In 7 years Cashbax refunds 600k total to Mr A and B? Doesn't sound like a great business model.

Not hard to turn 100 into 600 over 7 years, but if they can do that then why wouldn't they get some well capitalised investors to fund them, instead of giving you a seminar on how you get some sort of loyalty cashback. Seems like a hell of a lot hassle for a forex trader to go to just to get funding.

I personally will keeping to the normal estate agent route.
 
brianlondon said:
Posted a version of this in forex forum it occurs that maybe view of people with experiencing in trading other instruments might offer a view of this. Appreciate all feedback

just looking to sanity check the following and will suspend my intelligence and dis-belief until I get a view from those that know something about this subject.

Attended a seminar by company called cashbax - they have created a cashback loyalty system that will give a buyer 100% cash back on any item.

For instance I buy your house for £500k - I will receive £500K in seven years as cash back - or you could choose to take out a lesser amount anytime between year one and seven.

It works thus - I pay you 500k for your house, you were having a tough time selling it and instead of discounting you used cashbax as incentive....once house sells you give 20% of sale price to cashbax. Effectively £100k in this example as a marketing fee.... ( bear with me) -

Cashbax will - after seven years not only give the buyer £500k back effectively clearing their mortgage etc , but will additionally pay you the seller the £100k marketing fee.

They state that they can achieve this via relationships with top forex traders and believe they will profit because in the above example they will return far more than the £600k that they need to pay out.

So - guide me here.
Is it conceivable or even partially credible that this company can turn£100k into 650k
website is cashbax.co.uk or .biz for agents.

Really interested in replies to this subject
Click to expand...

It does not matter whether we are forex or equities traders. :D

I think that this is a trap for people in desperate need of money and should be regulated by the state.
 
Im fed up of the state spending my taxes on saving morons from things. The problem is... where does it end? It's a total con for this idiot to fall for this ****.

But then house prices are at the moment a total con. If we go down this road of bailing out these idiots we basically have to bail out everyone buying property at the moment, which is still far too high (and don't get me started on 3 years ago!)

**** them. They're greedy discovery sport driving ******s.
 
reminds me of that simpsons where they are like "this isn't a pyramid scheme, it's a trapezoid scheme...."
 
arabianights said:
Im fed up of the state spending my taxes on saving morons from things. The problem is... where does it end? It's a total con for this idiot to fall for this ****.

But then house prices are at the moment a total con. If we go down this road of bailing out these idiots we basically have to bail out everyone buying property at the moment, which is still far too high (and don't get me started on 3 years ago!)

**** them. They're greedy discovery sport driving ******s.
Click to expand...

Idiot is a very elastic word. If the state allows firms such as these to operate openly in the UK, or any other country, then there is someting wrong with it and with us.

You could say that anyone borrowing money by credit card is an idiot, with the interest rate that is permitted, but people borrow on it and some get into serious trouble.

Visa and the rest , though, have become respected brand names.
 
brianlondon said:
Posted a version of this in forex forum it occurs that maybe view of people with experiencing in trading other instruments might offer a view of this. Appreciate all feedback

Cashbax will - after seven years not only give the buyer £500k back effectively clearing their mortgage etc , but will additionally pay you the seller the £100k marketing fee.

They state that they can achieve this via relationships with top forex traders and believe they will profit because in the above example they will return far more than the £600k that they need to pay out.


Is it conceivable or even partially credible that this company can turn£100k into 650k
website is cashbax.co.uk or .biz for agents.
Click to expand...


Run a mile!

This is a very desperate bid to get funding for their Finspreads spreadbetting account.
 
JRP2891 said:
Run a mile!

This is a very desperate bid to get funding for their Finspreads spreadbetting account.
Click to expand...

That is what it seems like to me. The 100% return is like all these money-lending schemes, pie in the sky.
 
Guys

thanks for the comments and the sledging- as per previous post, they claim to use to Swiss forex houses ! Regional director met me near Heathrow, t ook me to website - showing average 6% per month. Arguement is that in addition to forex that a number of people will pull thir cash early

Not hard to see how it works for few years as they pay out less than they pulled in and even up to year six they only pay out what a decent bank account would earn you compouned - their reckoning is that very few people will wait full term. Agree that few people will be in for disappointment come the time.

Altough they claim OFT etc had a look at them !? and because the monies are marketing fee - they fall outside inverment regulation etc
 
You must log in or register to reply here.

Similar threads

B
Sanity check
Replies
6
Views
2K
brianlondon
B
P
Looking for Seed Capital to Start a Quant Prop Trading House
Replies
12
Views
8K
fifty2aces
fifty2aces
T
Hedging Mortgage With Options
2
Replies
25
Views
5K
maxima
maxima
F
Page views mystery ?
Replies
6
Views
2K
Kinell
K
LostPigeonCoo
  • Poll
Still trade if won the Lottery?
2
Replies
37
Views
5K
archiemishra
A
Top