Hoodless Brennan

[kevin calver]

Hi been trading cfds for little while but looking to trade using a advisary broker I heard that Hoodless Brennan are ok, has any body had some good results/feedback from them or is it all bad news like the rest of cfd advisers.

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[Jack o'Clubs]

I thought Hoodless Brennan had been in trouble in the past with the FSA for inappropriate advisory recommendations (and a quick Google confirms this is right), but IMO you should be ultra cautious of any advisory services aimed at the retail investor.

On the other hand, I've used their execution-only brokerage for stocks (not CFDs) in the past and it's fine (if not a patch on IB as the default low-cost choice).

 

[kevin calver]

Hi thanks for reply. What is IB is it another Advisary broker? who would you reconmend then?

Thanks kevin

 

[Jack o'Clubs]

Hi thanks for reply. What is IB is it another Advisary broker? who would you reconmend then?

Thanks kevin

...but IMO you should be ultra cautious of any advisory services aimed at the retail investor.

That means none. Advisory services for retail investors should be avoided, in my opinion (someone else might think differently).

To pre-empt your next question: 'why?' - because the service has to be so dumbed down to be saleable to the typical retail numpty that all value is also stripped out.

 

[kevin calver]

I guess I do fall in to the retail numpty area.

Thank you

 

[Jack o'Clubs]

I guess I do fall in to the retail numpty area.

Thank you

LOL, it depends, but seriously most retail 'investors' are absolutely clueless about what they are doing and the advisory services are set up to service that standard of financial education. As such they add very little value beyond that which you would get from reading the tips section of the Daily Telegraph share pages.

If you are set on advisory investing then I would (very tentatively) suggest something like Investing for Growth as a subscription newsletter which at least has some good investment principles behind its methodology. But to be honest there's not much even in there that you couldn't replicate by reading a few good investment books.

 

[PualoP]

http://www.trade2win.com/boards/brokerages/21336-hoodless-brennan.html

 

[brendansvest]

I use Hoodless Brennan to execute my CFD business. The brokers are spot on and usually get me a better price than I could. don't really know much about traditional share trading as I have always traded CFDs and find these guys to be pretty good.

 

[Mark200]

Hey I found this thread on Google when I was looking for info on hoodlessbrennan. I read through all the complaints and stuff on this thread and the one that was linked to.

I've never invested in stock before in my life, so I'm just looking for a broker that allows me to buy and sell whenever I want. Maybe just a few hundred Euro and see what happens. A lot of the complaints seem to be about the advise hoodlessbrennan has given, but I don't want to sign up for that....if I do sign up for anything, it'd just be the basic online trading.

Would they be ok to trust for the online trading?

I just got the part of signing up where they ask for all of my bank account details, so I really just want to be sure to be sure.I have a second bank account that I've never used, so I might just put a bit of money into that and give them that account number.

 

[FactualVinay]

Hey I found this thread on Google when I was looking for info on hoodlessbrennan. I read through all the complaints and stuff on this thread and the one that was linked to.

I've never invested in stock before in my life, so I'm just looking for a broker that allows me to buy and sell whenever I want. Maybe just a few hundred Euro and see what happens. A lot of the complaints seem to be about the advise hoodlessbrennan has given, but I don't want to sign up for that....if I do sign up for anything, it'd just be the basic online trading.

Would they be ok to trust for the online trading?

I just got the part of signing up where they ask for all of my bank account details, so I really just want to be sure to be sure.I have a second bank account that I've never used, so I might just put a bit of money into that and give them that account number.

I have been using Hoodless Brennan execution only stock investing service (which is the cheapest) and I have no complaints. At times when I was offline, I could reach them telephonically within 2 minutes and execute my trades. The only concern I have is around their platform's ability to execute limits orders. At times, it runs fine but sometimes it is unable to execute trades (limit orders) and gives up after trying twice. It has caused me some major stop loss issues (but I knew about this limitation before and hence would not blame them). Any idea if other brokers' limit trading is more reliable and can potentially offer sophisticated stops like trailing stop loss, guaranteed stop loss and OCO (One cancels the other) etc.

Also, transfer from Hoodless Brennan takes 3-4 days to reach your bank account. Don't know what the timelines for others are but these days online transfers are executed pretty much the same day (even between different banks) and hence 3-4 days seems slow.

 

[raysor]

That means none. Advisory services for retail investors should be avoided, in my opinion (someone else might think differently).

To pre-empt your next question: 'why?' - because the service has to be so dumbed down to be saleable to the typical retail numpty that all value is also stripped out.

I think if you use a broker then it should be an advisory service. Otherwise why use a broker, bit like haveing an execution only GP.
Most XO clients start off saying they just want xo and don't require advice. After a couple of trades they come on and ask for advice or an opinion and you have to tell them you can't give them advice and they usually sound surprised! You can tell the advisory broker how you want the relationship to be. If you are a trader you might like him/her to phone twice a day or if not then just to be kept "informed" of anything major. It should be a two-way mutual relationship. If not get another broker.

 

[mansoor999]

I just spoke to one fo the CFD traders at Hoddless Brennan. I have to say he was very helpful which i'd expect but when i asked him about performance over the last month, he said they made 26% with their advisory service. Sounds very good to me!!!

 

[Markpark]

Hi been trading cfds for little while but looking to trade using a advisary broker I heard that Hoodless Brennan are ok, has any body had some good results/feedback from them or is it all bad news like the rest of cfd advisers.

My experience of dealing with these guys is they are nothing more than a bunch of crooks that are only interested in making money from their clients - if you do a detailed research about them now called hb markets they have numerous complaints against them - dont touch their advisory service - unless you want to lose all your money - complete and utter useless service - you would be better gambling on russian roulette as you would have a better chance of keeping your money.

 

[Ifwishes]

Hi been trading cfds for little while but looking to trade using a advisary broker I heard that Hoodless Brennan are ok, has any body had some good results/feedback from them or is it all bad news like the rest of cfd advisers.

My experience of dealing with these guys is they are nothing more than a bunch of crooks that are only interested in making money from their clients - if you do a detailed research about them now called hb markets they have numerous complaints against them - dont touch their advisory service - unless you want to lose all your money - complete and utter useless service - you would be better gambling on russian roulette as you would have a better chance of keeping your money.

I'm afraid that this reflects my experience also. I have found Hoodless Brennan aka HB Markets to be a greedy, ruthless and dishonest bunch. When I complained about the quality of their recommendations and their failure to keep me informed, their response was as follows:

'I understand your complaint is that you are unhappy with the advice you received and that you were not advised when to sell your holdings. As stated in my previous email and as set out in Section 1 of the firm’s Terms of Business, the service that is offered by the firm, and accepted by you as our client, is that of a limited advisory nature. This means that we will make recommendations to you, advising you on potential purchases that we believe may be in your best interests. You are under no obligation to accept those recommendations, just as we are not obliged to manage your portfolio and our brokers are not required to regularly update you on the performance of your investments. Therefore it was your responsibility to manage your portfolio and if you required any updates or further information on your portfolio it was for you to raise any such requests with the firm'.

However, this was certainly not the tone taken when I had money to spend...Not only was there persistent and relentless hard sell, but, also, firm promises to keep me informed,which, indeed, formed part of the hard sell approach, and it's pretty obvious from the extent of my losses that they couldn't possibly have believed that they were acting in my best interests.

 

[Ifwishes]

Hi been trading cfds for little while but looking to trade using a advisary broker I heard that Hoodless Brennan are ok, has any body had some good results/feedback from them or is it all bad news like the rest of cfd advisers.

My experience of dealing with these guys is they are nothing more than a bunch of crooks that are only interested in making money from their clients - if you do a detailed research about them now called hb markets they have numerous complaints against them - dont touch their advisory service - unless you want to lose all your money - complete and utter useless service - you would be better gambling on russian roulette as you would have a better chance of keeping your money.

I'm afraid that this reflects my experience also. I have found Hoodless Brennan aka HB Markets to be a greedy, ruthless and dishonest bunch. When I complained about the quality of their recommendations and their failure to keep me informed, their response was as follows:

'I understand your complaint is that you are unhappy with the advice you received and that you were not advised when to sell your holdings. As stated in my previous email and as set out in Section 1 of the firm’s Terms of Business, the service that is offered by the firm, and accepted by you as our client, is that of a limited advisory nature. This means that we will make recommendations to you, advising you on potential purchases that we believe may be in your best interests. You are under no obligation to accept those recommendations, just as we are not obliged to manage your portfolio and our brokers are not required to regularly update you on the performance of your investments. Therefore it was your responsibility to manage your portfolio and if you required any updates or further information on your portfolio it was for you to raise any such requests with the firm'.

However, this was certainly not the tone taken when I had money to spend...Not only was there persistent and relentless hard sell, but, also, firm promises to keep me informed, which, indeed, formed part of the hard sell approach, and it's pretty obvious from the extent of my losses that they couldn't possibly have believed that they were acting in my best interests.

 

[pboyles]

Google 'hoodless Brennan fined' or 'hoodless Brennan scam' and you will see what they are up to.