broker services

[olweiser]

Hi all,
I got an email from a property investor club I subscribed to. They're talking about FX trading with a London based company that are offering to send each week their trades for an annual payment of £2500. They are claiming a minimum trade profit of 10,000 points a year or they will double your money back (that is the annual payment)

They claim to use the same trading strategies offered to the large FTSE100 companies but make no claims as to any 'proven' or gaurenteed strategies. Simply that they are experts in their field and can offer this gaurentee (who can spell gaurentee?) with confidence.

To any experienced traders here, or in fact novices that have used similar schemes...what do you reckon?

My biggest issue with this is that I am, by nature a control freak and I normally NEVER pay for a something I'm capable of learning myself. I would welcome the extra cash flow in these harsh times (I'm a property investor ;-( ) but would feel a bit of a fraud if I didnt know how to play the markets myself....I am learning, but have yet to place a 'real' trade on my oanda account.

so far all I do is read read read....

 

[ns1000]

Chances are you'll lose money. To get the money back, you'd probably have to prove that you've followed all their trades. If followed all their trades, you'd probably lose more than the £5000 you'll get back, plus they'll get a kickback from the broker. You can only claim a refund if the company sending the tips is still around...

Presonally I would NEVER believe anyone who guaranteed a profit from following a system like this. Trading just isn't that simple.

 

[olweiser]

Thanks ns1000,
I am prepared for negative comments on this - it's only natural. Hopefully they'll be others that may have used other services similar that will comment.

They dont place the trades, they simple give you the trades to place each week and you place them on any account you chose to use for any cost per point.