Too good to be true?

[bbmac]

lamb to the slaughter

What a great thread, this guy demonstrates why boiler rooms are stiil around with such a fertile potential customer base still to scam. It reminds me of the story about the guy who got stranded on an iceberg and he prayed to god for help. A submarine then surfaced and offered for him to board and be saved...he refused saying 'no thanks, the lord will save me...i am a believer'...next thing a fishing trawler passes and throws him a life jacket and line, he refuses help again stating that he is a believer and that the lord will save him....Finally a helicopter turns up on the scene hovering overhead and lowering a winch down...the man politely refuses again, stating that as he is a believer the lord will come to his aid.

Sure enough he eventually drowns and dies, and on entering heaven he asks god why he didn't save him. God replies, ..'I sent you a submarine, a ship and a helicopter....what more did you want'....Lol

Good analogy, but seriously, despite your diligence you will more likely than not lose this money. The FSA in particular and regulatory bodies in general are useless. possesion is 9/10ths of the law. If you like the trading idea, why not do it yourself, as suggested above, retaining possesion of your monies and cutting out the 'commissions.' Think about it, some one phones you out of the blue...oh I can't be bothered....Lol

Good luck.

 

[JTrader]

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

Good luck with your venture Nick, don't say you weren't warned.

T2W members generally are trading their own money, and therefore care about what happens with it.
You are talking about giving your money to some setup for them to manage. To them you are a number, an additional line of credit, not a person. I doubt they give a stuff what happens with your mone,y as long as at the end of the week or month, they go home with their mercenery salaries, looking for the next better paying mercenery job role. This will no doubt have been the case when you were scammed last time to the tune of 50 big ones.

You remind me a bit of a restaurant owner who Gordon Ramsay went to visit on his program where he transforms failing restaurants. The restaurant owner was really stubborn and arrogant, and was not willing to take on board GR's suggestions that would have turned his business around. Months later, his restaurant was still failing, and deservedly so.

From your posts so far Nick, sad to say, but you do sound a bit arrogant and deluded, you are ideal cannon fodda for a set of scammers - as in reality you seem to know very little, but claim to know it all.
Again, don't say you weren't warned, but perhaps after you've lost another small fortune, you'll become a bit more of a realist.

 

[nicktaylor]

how do you know

if your saying that unregulated companys are useless and regulated ones are too then which companys would you invest in?

you see what i mean ive invested hundreds of thousands of pounds in numerous companys like this one and its fine, had good returns you do no that not all investment companys are all crooks right?

tell me do you guys trust any companys any more except jp morgan etc

 

[JTrader]

There is an old saying that a fool and his money are soon parted. ...

I hope this is not a fitting description of you .

Good luck, they may bring you handsome returns, or, they may not....
The point a lot of us are trying to make is, do they really care about your pot of cash, even 1/16 as much as i care about my pot of trading cash............I very much doubt it!

 

[JTrader]

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.

.......

This to me, pretty much says it all in that you address/answer your own suspicions.

 

[bbmac]

good advice.

Its good advice from Jtrader and others. The description you give of the dealings you have had so far replicate very closely a classic boiler room pitch. If you want to invest money, there are any number of 'top 10 ' institutions like Jp Morgan, Credit Suisse, Citibank, UBS, Deutsche etc...that will advise you. Although possession is always 9/10's of the equation, at least with these firms you are very much less likely to lose your money through fraudulent activity.

Whilst there is always a bigger degree of sceptisism about anything on these type of boards, in this instance it is well placed.

My advice always if you get a call out of the blue from some one representing some thing you've never heard of, is listen to the trading idea, and if you are sold on the idea and believe it will make money, go along to an institution that is known to you, and effect the deal/trade yourself, if not ...simply ignore it. These boiler room operations tap into and promise to feed one of your basest instincts....greed, and if this kicks in, it is a stronger emotion than common sense, Lol!

It's been said many times before, but if you have to ask if it's too good to be true...it generally is.

 

[nicktaylor]

i am aware of the risks thank you

i will post back in one week to let you no how i got on

 

[rathcoole_exile]

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!

my own company is registered in Zurich and I wouldn't trust myself to find the front door !!! It means nothing. What does make sense is the expression, "if it looks too good to be true, it probably is".
I would suggest that you are being set up as the victim of a Long Con. Plenty of small wins until they come to you with a story, all totally plausible, requiring you to "deposit" a million quid "overnight" blah blah blah ..... Nick, if you are a genuine poster then you need to catch yerself on in quick time, otherwise if this part of an elaborate troll, other BMs please be warned ....

 

[nicktaylor]

lol thanks

 

[rathcoole_exile]

It's actually in Schaffhausen but you get the point.
The more convincing the cover story the more elaborate the Long Con

 

[rathcoole_exile]

Listen, I've got some presentation slides about how these scamsters operate. If you send me $1,200 dollars, no make it $1,000 if you send the money tonight, I'll reveal to you all the secrets you'll ever need need to avoid being taken for a ride .
Bank account number 69, bangkok bank. cheers.

 

[FXSCALPER2]

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!

boy, I can make you lots of money from 50k. That is a lot of money for a forex trader. If you know what you are doing, trading forex is fairly safe.

 

[atomm]

Hi Benadix,
Don't know whether the Global Investment Group trades and earns big money based on its own good signal/prediction. I'll be selfish to help other people to make money if I found a consistently profitable formula, don't curse me
Call/puts options: The time value will drain out your potential gain as its time-value decays with time until it eventually expires worthless ( zero value ). Theoretically, a seller of options always has an upper hand than a buyer of a naked call/puts options.
IMO, buy a naked index, forex or stock is better than an options of it, as there is no decay in time-value, except the swap which may be at or against your trade position.

 

[StupendousTrader]

You are all missing NickTaylor's point

I think most of you are missing NickTaylor's point:

Let's assume that a Trader starts an Internet Company that is very successful and say he make $3 million a year income. Although he trades successfully, his trading income does not match his Internet business income. The trading income is much less. He still loves to trade but he does not have the time any longer because of his business venture.

He has only three options:

1. Stop Trading
2. Continue Trading
3. Contract out the Trading to a firm he is comfortable with.

Since the CEO of the Internet company does not want to do 1 and 2, he has no other choice than to contract out the trading to a firm he feels can mange his money.

It will be extremely stupid for him to continue trading directly to make less money as against his successful Internet business. Furthermore, any savvy CEO/Trader will always keep his eye on the ball. If he invests say $100,000 with the trading firm, he knows how much loss he is ready to tolerate from the firm. If his loss threshold is 25% or $25,000, he will force the company to close all his positions, once his Account falls to $75,000.

This is the point NickTaylor is trying to convey.

 

[2be]

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

Hi Nicktaylor, I have been this path for too many times to mention, and have spoken with other clients making money, and after the scam was over I spoke with them too, when all the entrusted (It was only entrusted to them as it was never invested) capital had evaporated into the thin air. Even before I have lost it all,
I have been in a position of vertual profit. Since then I have made the following rules:
1. I buy/sell or invest in what I know and if I need a broker I choose the firm myself and not a firm or supper deal, IPO offerred to me by some stranger on the phone.
2. I need to know the broker personally
3. Bigger investments I shall contemplate only after taking advise of my accountant
I cannot tell you how many dishonest crooks there are, busy phoning around the world to find a pray. On account of this I would never ever again to even cosider for a second to part with any capital to anyone asking me to do so by the phone.
If you are so keen to part with your capital, it is your own business. Since the company is in Switzerland, it is only a day and a couple of hundreds pounds to check their office and personel by yourselve. Do not relay on just phoning them, speak with them and their bankers ( demand their SWIFT, and the names of at least two bank officers, with whom you would like to speak, take the name of reputable banks only and use only telephone numbers taken from the wesite or the given banks literature, these precautions for obvious reasons) , if they are real they would understand, and if not they are not to be trusted with a single penny. By doing things this way, at worst you only loose a small amount and learn a good lesson at a great discount.
All the best,2be

 

[anley]

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

So why are you dealing with a bucket shop then because only idiots and (soon to be) loser do?

Only a fool would deal options with a cold caller. Why not deal with IB or some similar broker where you KNOW what the correct bid/offer is rather than (most probably) they tell you what it is.

And let me guess, when you report back in a weeks time you'll have turned £1,000 into £7,000. That is about as predicable as tomorrow being Tuesday.

Leads me to deduce that you're most probably a troll

PS. Which is the riskiest options trade, buy ABC stock and sell a call against it (covered call) or sell a naked put in ABC stock without owning the stock?

 

[2be]

So why are you dealing with a bucket shop then because only idiots and (soon to be) loser do?

Only a fool would deal options with a cold caller. Why not deal with IB or some similar broker where you KNOW what the correct bid/offer is rather than (most probably) they tell you what it is.

And let me guess, when you report back in a weeks time you'll have turned £1,000 into £7,000. That is about as predicable as tomorrow being Tuesday.

Leads me to deduce that you're most probably a troll

PS. Which is the riskiest options trade, buy ABC stock and sell a call against it (covered call) or sell a naked put in ABC stock without owning the stock?

Hi Anley, I agree 100% with your sentiment. I am sure that Nicktaylor is unlikekly to report a loss and beeing taken for a fool, it takes some growing up to do it. And as he already stated that he knows so much about option trading, and still is advocating his commitment to part with his capital with cold caller, due to the lack of time, one can assume that making telephonecalls places severe restrictions on one's other activities.

 

[A Dashing Blade]

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

er . . . small point . . . fx is OTC & therefore, by definition unregulated.

I further note that nowhere on their site is any reference to any regulatory authority, may I ask which one you consulted?

Finally I would personally query why a (presumably) Luxembourg based trading operation is quoting elements of the US "International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001" wrt money laudering etc.

But hey . . . you decide.

 

[JTrader]

And let me guess, when you report back in a weeks time you'll have turned £1,000 into £7,000. That is about as predicable as tomorrow being Tuesday.

Leads me to deduce that you're most probably a troll

NT could well be a TROLL - albeit a verey elaborate, sophisticated, patient - seeing the big picture/waiting for the big kill etc. throuugh the big build up.
However, perhaps the modern day TROLL needs to be this elaborate in order to succeed :idea: .

 

[nicktaylor]

outcome

First of all i would like too thank everybody for their input i had no idea when posting my message i would recieve so much help and replys back.

i was first posting to discuss a particular company, however after the journey i have been taken on by all this discussion has been a eyeopener and i had lost lot of faith in companys like the ones you have been describing especially due too my earlier loss, i was sort of intwined on a mission to find just one company out their which was not so,

my understanding of this are as follows

indeed companys exist more than we would like to believe that ar just after our money period.

also companys are out there that try to make you money. fact.

however to believe that all comapanys out their are legitimate is false. true?

also to believe that all companys like this are illegitimate is also foolish, Correct?

so certain comapnys out there are for real others are not so doing the proper checks would be prudent before making any decision. although this still not may hold up so a risk is always assured.

Due to my previous loss i always like to do my checks and follow my facts wherever they may lead.

I did have a good feeling about a particular company and i was willing to risk 10000 in order to find out,

before i come on to the outcome, Anly has posted that because i am trying to find merit with a company , to give myself confidence that not every one is a crook and the human race is in fact most kind, that i myself am a TROLL which to be honest i dont know what that means but i could guess an insider or something which is obsurd.

i believe that the distrust in you is so deep that as soon as someone takes a side opposite to yours we become the enemy, and i fear you are to far gone i just hope i myself will never be in such a predicament!

in truth too my investment i did not turn 1000 in to 7000 as one person did think, but i did invest and get out with 3 of my calls at 1.38 and the money has cleared back to me altready 12500 to be exact i have left the rest in now i am playing with profit, and i would of reported a loss if that was the case i am not a afraid to admit if i had been wrong i believe i learn from my mistakes, but also follow my instincts so thank you but not everybody is against us please have faith "pandoras box" hope! is still left.

Best regards Nick Taylor