anyone heard of London Global Investments

[tradesupport]

Hi, did i understand right that you get a salary from them but pay them too? couldn't you just ask not to pay them and receive a reduced wage instead, or do you think the
t approach wouldn't support their business model?

Hi the employment contract is for 6 months and comprises of STA enrolment inc exam, simulated trading inc bloomberg tech analysis ect trading co funds wirh salary plus payment plan!

 

[olionion]

Well best of luck with it, from their website it looks like for the last 2 months of the scheme they are offering 500 squid a month salary so basically if you dont get any commission you are paying them for a job.

The directors will probably r*pe the company of dividends and then shut it down within a year before their corp tax is due or when people stop signing up for "jobs".

If you arent associated with them i sincerely wish you the best of luck but i would personally be asking them a few more questions.

 

[tradesupport]

Well best of luck with it, from their website it looks like for the last 2 months of the scheme they are offering 500 squid a month salary so basically if you dont get any commission you are paying them for a job.

The directors will probably r*pe the company of dividends and then shut it down within a year before their corp tax is due or when people stop signing up for "jobs".

If you arent associated with them i sincerely wish you the best of luck but i would personally be asking them a few more questions.

Its 500 for 3 months if you look at it like this for example the sta course(not home study) cost 2700 so add the 1500 basic wage and 6 months experience in trading is a good deal and paying in instalments if I don't succeed the company will be at a loss! I'm happy with it. Can I ask who do you work for?

 

[pboyles]

Well best of luck with it, from their website it looks like for the last 2 months of the scheme they are offering 500 squid a month salary so basically if you dont get any commission you are paying them for a job.

The directors will probably r*pe the company of dividends and then shut it down within a year before their corp tax is due or when people stop signing up for "jobs".

If you arent associated with them i sincerely wish you the best of luck but i would personally be asking them a few more questions.

TCA Markets and several others, most recently Talent Division did just that.

By the way did you think about ringing Novus up and asking them what their relationship actually is with LGI. I havnt verified this for myself but rumour has it they have NO official tie up.

 

[Lee Shepherd]

Hi All,

Haven't been around in ages so hope everyone is still trading and having fun.
In relation to LGI - check them on companies house - they have no trading history - financial as no accounts have been filed. This is normal for a company that has only recently been incorporated. 15th December 2010. They have been around for little over month so be very wary of new set ups and business models, they are suseptical to going bust like most business do each year. Also, they may have many wrinkles that need ironing out first.

Company number - 07470625

Lee Shepherd

 

[tradesupport]

Thanks for your advice ill keep you updated when I start I'm signing my full development and employment contract on monday my solicitor looked over it fri and give me the go ahead its a good way for me to stop trading from home on my own get the sta diploma and I'm confident in myself of making LGI profit and commission. Many thanks

 

[tradesupport]

Good point I did the same and in my interview I raised this point and they are a new outfit of traders and investors looking to profit from the what is the largest and most liquid market in the world they are recruiting 200 traders over 2 years for the project its a development program with certification not a course so its good for me. Many thanks

 

[pboyles]

As Lee says they are a brand new company which is why it was very suspicious that you posted saying 'I am on the course'. The value of the diploma course seems to be around £500 yet you will fork out over £2000 for it hoping to recoup this in 'wages' which you may or may not receive.

As someone already said why dont they pay you nothing and charge less for the course? I can guess why they don't do that but from what you've said already it seems you're determined to find out the hard way.

 

[tradesupport]

I'm on the course meaning I'm booked on the course we are discussing a company not my wording please do not be personal. I am great full for your advice. The exam is 500 pounds the lectures and class time over 6 weeks has a cost as well if I was at a level to pass it without being lectured then I would sit the exam but I'm not. Many thanks

 

[olionion]

Can I ask who do you work for?

Yep of course, I run my own Co. nothing to do with stock trading or the financial markets, its been running for about 4 years.

Ive got no ulterior motive here, I can see why this companies exist, its a +ev way for the directors to back a load of horses and if they are lucky make some money off the back of them and if you lose well its no problem for them they would liquidate your job and or the company and still have all the money you and 200 other folks have paid them in the other co. along with all the assets as well i expect all well out of reach of hmrc. A tidy little profit with no risk for them.

But in terms of it being a job and if someone is considering this as employment it really isnt, i doubt they offer sick pay and a pension plan etc, why would any legit investment company employ a novice to trade with valuable company funds. No credible company would expect an employee to fund its training to the extent being discussed here where the net pay is less than the money you are paying them unless it was part of they way they intend to make a profit.

 

[tradesupport]

Thanks for all that I am talking from experience if the worst does happen ill still have my sta certification and 6 months pro trading experience its up to me to excel I allready trade and want to work in the city the base target there is 50 pips a week witch I all ready sustain thanks for your advice hope you are wrong of course take it easy. .TS

 

[pboyles]

Thanks for all that I am talking from experience if the worst does happen ill still have my sta certification and 6 months pro trading experience its up to me to excel I allready trade and want to work in the city the base target there is 50 pips a week witch I all ready sustain thanks for your advice hope you are wrong of course take it easy. .TS

You'll have a certificate worth £500 which wont open any doors for you as far as I can see. If this turns out like TCA Markets you wont want to be putting it on your CV. It may of course not turn out like that but it seems to be quite high risk given the circumstances.

 

[tradesupport]

The STA diploma is a highly recognised certification for technical analysis why would I not put that on my CV why don't you visit the company before making judgment basically you are saying all the people I have met 13 people ranging from HR. to lecturers with cfa 3 certification are all lying and going to scam me you have no right to assume the worst without proof so Ill leave it there. Regards
Ps. if you know about cfa the staff are bound to report fraud by the cfa otherwise the loose the certification the director or the course has a cfa level 3 I'v checked him out.

 

[tradesupport]

The STA diploma is a highly recognised certification for technical analysis why would I not put that on my CV why don't you visit the company before making judgment basically you are saying all the people I have met 13 people ranging from HR. to lecturers with cfa 3 certification are all lying and going to scam me you have no right to assume the worst without proof so Ill leave it there. Regards
Ps. if you know about cfa the staff are bound to report fraud by the cfa otherwise the loose the certification the director or the course has a cfa level 3 I'v checked him out.

 

[pboyles]

Who, Rahul Khanna?

 

[tradesupport]

Correct

 

[pboyles]

Have you verified that by checking the CFA register?

 

[tradesupport]

Correct

 

[olionion]

Hi, it doesn't have to be fraudulent to be exploitive and a tad seedy. They seem to operate two separate companies one for training one for trading. The training company will take (i believe) 5k off each individual, as you mentioned 200 people lets assume they achieve that, so thats 1000,000.00 gross (sweet), less their salary back to the "employees" for 12 weeks gives them roughly a net profit of 700k (loverly jubbly). (this has nothing to do with the investing/trading co.)

What happens to the business when they cant recruit more "staff", bearing in mind its an entirely separate legal entity to the trading co, which company is the employment contract with, which company are you paying?

By offering a little bit of money back at the end of the term they are touting it as a job, but in my opinion this is a just a sweetener, a sales trick, without the income given to the co. by the "employees" it wouldn't exist in the first place, its close to zero risk for them.

TBH the bit that really gets me is their micky mouse website with all the pretty pictures of people trading and words like "careers" and "peace of mind" on the same page that is advertising the training, but thats just me, i hate being sold to.

Anyhows im not getting at you with these posts, its just a personal opinion on the way they are presenting themselves.

 

[olionion]

by the way ive literally doubled my post count on this thread, awesome... kind of