# Global Markets Australia - Is this a scam?



## flashone

Hi Everyone, I am very new to this forum here and would appreciate some guidance/ experience and wisdom into a company "Global Markets Australia" (http://www.globalmarketsaustralia.com.au).

They boasts that they are a "global leader providing intra-day index services,". I have been contacted by these guys and on the surface it sounds legitimate and have signed up (paid the lowest package to test out) for the time being. The services are as follow:

1. Pay $10,000 - $30,000 to get their alerts for 3 years. (Alot of money)
2. You make a trade in Betonmarkets using their alerts - the guys selling me this boasts 80-90% success rate. The results a publicly revealed on twitter and facebook. - So far its no where near that figure.

3. Also you have to pay $50/ month which was not disclosed to me at the time of opening up an account with them.

Anyway, there are more to this story but was wondering has anyone used these guys.
Hopefully this does not sound like a SCAM similar to; Investment Intelligent Corp PTY LTD by Senen Pousa, AKA ProphetMax.

Any help would be much appreciated.

regards,
Flashone, learning the ropes.


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## skc

Let's see...

Cold calling clients. Check.

Website only registered 3 months ago. Check.

Use of standard stock photos on website. Check.

No real person's name disclosed. Check.

Based on the Gold Coast. Check.

Results with very high win rate. Check.

Put on ASF by first time poster. Check.

It passed the standard 7 point scam check with flying colours.


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## matty77

So you think its a scam but sign up to it anyway?


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## notting

Well I don't know anything about it but if I had to place a bet right now I'd be happy to put any amount you want on the side of - *you have been ripped off by liars, no, thieves. *


> The guys selling me this boasts 80-90% success rate



WOW they are doing better than Bernie Madoff.  
They must be good.
Hey if I join up at least I'll be wise to the $50 monthly undisclosed charge!  I feel ahead of the game!


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## McLovin

They're only missing the couple deeply in love sitting in the office kitchen discussing their strategy over a nice Bordeaux.


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## matty77

The office address on facebook is Sydney, but when you google it its just a virtual office.

Level 32 /1 Market street, Sydney, Australia


> This Sydney virtual office is in a highly convenient and desirable central business district location near




The comments and likes on facebook look fake.


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## sammy84

Unless they offer wine, I'm sticking with Citadel Markets.


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## CanOz

flashone said:


> Hi Everyone, I am very new to this forum here and would appreciate some guidance/ experience and wisdom into a company "Global Markets Australia" (http://www.globalmarketsaustralia.com.au).
> 
> They boasts that they are a "global leader providing intra-day index services,". I have been contacted by these guys and on the surface it sounds legitimate and have signed up (paid the lowest package to test out) for the time being. The services are as follow:
> 
> 1. Pay $10,000 - $30,000 to get their alerts for 3 years. (Alot of money)
> 2. You make a trade in Betonmarkets using their alerts - the guys selling me this boasts 80-90% success rate. The results a publicly revealed on twitter and facebook. - So far its no where near that figure.
> 
> 3. Also you have to pay $50/ month which was not disclosed to me at the time of opening up an account with them.
> 
> Anyway, there are more to this story but was wondering has anyone used these guys.
> Hopefully this does not sound like a SCAM similar to; Investment Intelligent Corp PTY LTD by Senen Pousa, AKA ProphetMax.
> 
> Any help would be much appreciated.
> 
> regards,
> Flashone, learning the ropes.




there you go mate, looks like a scam to me. If you can't demonstrate that you not spamming then I'll axe the thread....:axt:

CanOz


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## matty77

keep it here for reference though so it comes up in google that its a scam.


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## CanOz

matty77 said:


> keep it here for reference though so it comes up in google that its a scam.




Yeah, we can 'soft delete' it and i think it will still be available to the search engines...

CanOz


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## normston

*Global Markets Australia*

Hi Everyone, first time on here. I've always invested in property and now wish to give shares ago. I had a phone call from Global Markets Australia and what they were offering sounded attractive, so I'm concerned this is a trap for new players. Anyone on here have experience with these guys. 
Regards
normston


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## CanOz

*Re: global markets australia*



normston said:


> Hi Everyone, first time on here. I've always invested in property and now wish to give shares ago. I had a phone call from Global Markets Australia and what they were offering sounded attractive, so I'm concerned this is a trap for new players. Anyone on here have experience with these guys.
> Regards
> normston




So Normy, what exactly are they offering?

any of this  perhaps?

CanOz


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## Smurf1976

1. It's based on the Gold Coast (not necessarily bad but does ring some alarm bells in the absence of proof to the contrary).

2. Have obtained a "credible sounding" address in Sydney but it seems to be sus. Anything that doesn't "check out" is a seriously big alarm bell.

3. All sounds so easy. Another warning.

4. THEY make THEIR money from YOU paying fees, not through actually making profitable trades in the market despite them saying it's so easy. Huge warning sign here.

If you wanted to show someone and example of what a scam looks like then this would be a good one to use. I'd be staying well away from it in the absence of firm proof that it's legit (and I very much doubt that it is).


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## easytarget

does anyone actually personally know a real person who has dealt with these guys?


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## excelcalcs

Hi there, 

I have been investigating the Global Markets Australia claims about their Index Trading packages. 

There are a few important issues you must consider before handing over any money:

1. They can claim to have an approximately 80-85% "strike rate/success rate", because they NOT count trade positions that LOSE in the 1st hour, but then subsequently win on the same trade position in the 2nd hour. This is a very cunning definition of strike rate. 

2. If you follow their strategy of investing 1% in 1st hr trades, but 2.5% in 2hr trades (ie, following a LOSING 1st hr trade), you must then lose much more on losing 2nd hr trades than on losing first hr trades. 

Clearly this is NOT the strategy used for the "projected accumulated returns" claims, which are based on "standard $200 trade(s)"

3. They will NOT give you actual figures or data for past results for any of the packages, so it is impossible to verify their claims accurately - ie they will NOT provide EVIDENCE for their claims. You MUST ask "Why not?".

4. If you plan to use a "managed" package, note that a 20% commission is charged on any profits generated each month.  Should your $20,000 starting account balance happen to fall to $10,000 (yes, it might!) but in the next month it increases to $11,000 be assured they will take their $200 commission! 

I have extracted trading results for the last 7 months from GMA's twitter & facebook feeds (what a professional and transparent way to provide you with investment information!!) and done a fair bit of analysis. Sadly, my numbers must be somewhat approximate because some of GMA's updates are incomplete, contain duplicated data or are ambiguous! Nevertheless, here's a summary of some of the revelations: 


Global 3   $11,900.00 upfront cost  
Results for a self-managed account, initial balance of $20,000, alerts followed for 7 months from Sept 2012
No of trades  1st hr: 288, wins 160 (56%)   2nd hr: 128, wins 56 (44%)
(NB. GMA would call this a 75% "strike rate")

a. Investment/trade: 1% (1st hr), 2.5% 2nd hr):  Current balance ~$15,900 
b. $200 investment/trade: balance ~$18,000   Lowest balance reached ~$10,400


Global 11  $35,900.00 upfront cost  
Results for a self-managed & managed accounts, initial balance of $20,000, alerts followed for 7 months from Sept 2012
No of trades  1st hr: 359, wins 179 (50%)   2nd hr: 180, wins 110 (61%)
(NB. GMA would call this an 81% "strike rate")

a. Investment/trade: 1%, 2.5%:  Current bal ~$15,800 (self-man), ~$12,800 (managed, after commissions) 
      Lowest balance reached ~$6,200
b. $200 investment/trade: balance ~$0  (very sorry, you went bust after 4 mths!)


Please note that I have taken great care to be as accurate as possible in my calculations, but I make no claims that GMA would agree with my results!  My calculations are for my benefit alone and I do not take responsibility for any action any other person or entity might take based on this post. I am not a financial adviser and have no interest in GMA or any other such organizations. However, I posted my results as a guide to some of the things you might think about!  Take care out there!


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## banco

Smurf1976 said:


> 1. It's based on the Gold Coast (not necessarily bad but does ring some alarm bells in the absence of proof to the contrary).




There's a PHD study to be done on why the Gold Coast has so many fraudsters per capita.


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## drsmith

Two short words.

Two short words and then hang up.


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## excelcalcs

easytarget said:


> does anyone actually personally know a real person who has dealt with these guys?




I've only dealt with them on the phone & by email, but I found out enough - see my previous post! They can get away with claiming ~75-80% strike rate by manipulating the usual definition!  

Let's say I toss a coin 100 times and I take a "position" that it will come up Heads. I call it "successful" when I toss Heads. I can expect Heads about 50 times - that's 50% "success", a 50% "strike rate".

However, by my rules, if I tossed Tails the first time (ie, about 50 times), I can have another go without penalty for those 50 that came up Tails. So, I toss again for those 50, and 50% come up Heads - that's another 25 times I've gotten Heads!  

So, wow, I've gotten 75 Heads in total - that's 75% "success", a "75% strike rate",  on my original 100 "positions"!! 

Do you think there's something wrong here?


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## Dave L

I Can say at least I have had the benefit of a dummy account with GMA for a short period trading up to 12 trades a day using their daily advice texts for a few days on a dummy $10,000 account, my experience was over $2,400 net profit in that time, on their advice.
I'm aware the the entry price is huge but their Global 16 site at a $46,900 entry giving me even $1500 pm would be a great return over 5 years.
So if some of you guys out there can come up with something solid in the way of proof that its a scam please let me know as I have an appointment with them this week.





excelcalcs said:


> I've only dealt with them on the phone & by email, but I found out enough - see my previous post! They can get away with claiming ~75-80% strike rate by manipulating the usual definition!
> 
> Let's say I toss a coin 100 times and I take a "position" that it will come up Heads. I call it "successful" when I toss Heads. I can expect Heads about 50 times - that's 50% "success", a 50% "strike rate".
> 
> However, by my rules, if I tossed Tails the first time (ie, about 50 times), I can have another go without penalty for those 50 that came up Tails. So, I toss again for those 50, and 50% come up Heads - that's another 25 times I've gotten Heads!
> 
> So, wow, I've gotten 75 Heads in total - that's 75% "success", a "75% strike rate",  on my original 100 "positions"!!
> 
> Do you think there's something wrong here?


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## stockGURU

Dave L said:


> I'm aware the the entry price is huge but their Global 16 site at a $46,900 entry giving me even $1500 pm would be a great return over 5 years.
> So if some of you guys out there can come up with something solid in the way of proof that its a scam please let me know as I have an appointment with them this week.




Dave, I'll give you several reasons why I think you should not hand over any money to these people.

1. Their business address in Sydney is a well known virtual office, meaning they probably have no office or staff, just someone answering the phone for them.
2. Why is there no phone number for their "Head Office" in Brisbane or their "Client Support Centre" at the (shock, horror) Gold Coast? How do you actually know if there is anyone, or even an office, at these addresses?
3. Why do they claim their business is operated from Sydney but their actual registered business address is in Southport: https://connectonline.asic.gov.au/R...l&searchType=OrgAndBusNm&searchText=154282069
4. Just like "Smart Markets Australia" they use Bet on Markets, meaning not only are they making a huge upfront fee off you but are also taking a healthy cut of every dollar of revenue you generate for BOM.

Do you really feel comfortable handing over tens of thousands of dollars to un-named people for some SMS alerts telling you when to buy and sell an index? Un-named people with no track record, no history and no audited results that could confirm their accuracy. I sure as hell wouldn't, and IMO you are crazy if you do.


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## excelcalcs

Hi Dave, 

I believe you should be wary of purchasing any of the GMA packages without a much more rigorous assessment than just a few days or weeks trading a dummy account, the reason being that so few trades is just not a statistically significant sample if you want to be reasonably sure of expected results over, say, a year. 

I have extracted and analysed all the data available on the twitter feed. Here's a summary of some of my calculations for the 12mths beg. April 2012 to end March 2013:  

package:        global-11  global-7  global-3
1st hr trades:   
wins 1st hr:      826         657        280
losses 1st hr:    773         635        278 
total 1st hr:     1599       1292        558 

2nd hr trades:   
wins 2nd hr:     402 	  328       137 
losses 2nd hr:   371 	  307       141 
total 2nd hr:    773         635       278 

total wins:        1228        985     417 
total losses :     1144       942      419 
total trades::    2372       1927     836 

OK, so this gives strike rates of 51.8%, 51.1%, 49.9% resp. Not too flash really. 
However, since Global doesn't count losing 1st hr trades because they trade them again in the 2nd hr, they can claim "success rates" of 77%, 76% & 75%, resp. Same numbers, slippery definition. (Please see my previous post with my analogy about tossing heads or tails.)
Given a nominal profit on winning trades of 95%, then long-term you must expect average returns of 49.2%,  48.6%,  47.4% resp., calculated using their own results available publicly on Twitter & Facebook!!  I can't see how you can make a sustained profit this way, compounding notwithstanding! 

You will have good weeks/months and you will have bad weeks/months. I think you cracked it for a short-term good run in your dummy account. If you had bought a GMA package 12 months ago and traded with real money, where would you be now? 

BTW, I would buy a package tomorrow if GMA could thoroughly, accurately and transparently demonstrate that they did, and can, sustain actual strike rates of over 75% over the long-term (eg, 12mths or more). Please keep us posted about what you find out at your appoinment and your results if you decide to go ahead. 

all the best
Jen



Dave L said:


> I Can say at least I have had the benefit of a dummy account with GMA for a short period trading up to 12 trades a day using their daily advice texts for a few days on a dummy $10,000 account, my experience was over $2,400 net profit in that time, on their advice.
> I'm aware the the entry price is huge but their Global 16 site at a $46,900 entry giving me even $1500 pm would be a great return over 5 years.
> So if some of you guys out there can come up with something solid in the way of proof that its a scam please let me know as I have an appointment with them this week.


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## troyxlr8

this sounds very familiar to a company called *prosperity group*
I spoke with them on and off for about 6 months abuot a year or 2 ago,  they were using betonmarkets as well to bet on forex's.
there entry fee was around 10 to 30k, they would send you 3 trades a day (for 10k) up to 20 trades for the platinum package (30k).  they boast this is an entry promotion to all of their other packages they do.  then when you dont sign up, they call up offering their software package which started off at $1100 then they called a few months later saying they have sold out of their software at that price and now they have a new package which is $2200.

But the software limits your earnings off $800 betonmarkets account to $560 per month. But there was a $40 ongoing fee for support and maintenance of the software.  When I told them to demonstrate it to me, they kept calling up after the trade/bet was placed and saying look if you put a bet on this, you would of had a 25% return last hour..


I have a new one calling trying to sell me an arbitrary betting package for 18k, *Sansar Connect* 
these guys are a virtual office in sydney, the way this one works is to pick a bet for win on soccer(say aust vs sweden) for Aust on 123bet then pick a win for sweden on bovada and either can win but for 4k (2k on both of them), you get $67
Sounds good, but when you read up about arbitrary betting the bookie websites don't like it and can cancel your bet which drops your change from 100% to 50% and can be at the last minute and not give you a chance to cancel the other bet as well.  

1st I would bet is a scam, 2nd one is a risky opportunity, they proved it works, but there is a difference in AUS on bet123 and EUR on bovada which may kill your earnings when you switch it back to AUS


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## miraclemuz

troyxlr8 said:


> I have a new one calling trying to sell me an arbitrary betting package for 18k, *Sansar Connect*
> these guys are a virtual office in sydney, the way this one works is to pick a bet for win on soccer(say aust vs sweden) for Aust on 123bet then pick a win for sweden on bovada and either can win but for 4k (2k on both of them), you get $67
> Sounds good, but when you read up about arbitrary betting the bookie websites don't like it and can cancel your bet which drops your change from 100% to 50% and can be at the last minute and not give you a chance to cancel the other bet as well.
> 
> 1st I would bet is a scam, 2nd one is a risky opportunity, they proved it works, but there is a difference in AUS on bet123 and EUR on bovada which may kill your earnings when you switch it back to AUS




You do realise that in soccer a draw is a valid result, hence your $4k bet could lose too.


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## Uoweme

*www.globalmarketsaustrali.com.au / www.smartmarkets.com.au*

www.smartmarketsaustralia.com.au / www.globalmarkets.com.au / www.itrademarkets.net / seem to be all the same guys Dave, I'll give you several reasons why I think you should not hand over any money to these people. 

1. Their business address in Sydney is a well known virtual office, meaning they probably have no office or staff, just someone answering the phone for them.
2. Why is there no phone number for their "Head Office" in Brisbane or their "Client Support Centre" at the (shock, horror) Gold Coast? How do you actually know if there is anyone, or even an office, at these addresses?
3. Why do they claim their business is operated from Sydney but their actual registered business address is in Southport: https://connectonline.asic.gov.au/R...l&searchType=OrgAndBusNm&searchText=154282069
4. Just like "Smart Markets Australia" they use Bet on Markets, meaning not only are they making a huge upfront fee off you but are also taking a healthy cut of every dollar of revenue you generate for BOM.

Do you really feel comfortable handing over tens of thousands of dollars to un-named people for some SMS alerts telling you when to buy and sell an index? Un-named people with no track record, no history and no audited results that could confirm their accuracy. I sure as hell wouldn't, and IMO you are crazy if you do.


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## faybo

*Re: www.globalmarketsaustrali.com.au / www.smartmarkets.com.au*

So I am guessing there is a good chance of not being a very popular man if I applied for this job!!!!!!!!! I am going to call anyway for a laugh.. It always interests me as to whether the high pressure sales people are duped by management into thinking it is a good deal or whether they are in on the rip off. I will let you know my conclusion.


Global Markets Australia is a leader in Intra Day Trading in Australia. Due to on-going growth in the business we are looking to recruit new telemarketers to build new business and promote our services in a dynamics sales environment.

We seek professional and highly motivated staff. You will be responsible for making outbound call maximising each opportunity in order to qualify clients prior to leads being given to our Senior Traders.

The successful applicant will be a highly driven individual with a tenacious attitude and a strong work ethic. An understanding of index trading would be an advantage but is not essential.

The ability to work in a team environment contributing to the overall company goals and objectives is an important factor.
The right candidate will receive a generous remuneration package including a retainer plus commission and superannuation. The package includes holiday/ sick pay as well as team bonuses based on performance.
Details will be discussed at personal interviews.

Contact Graham Carden - 0408 541 870
Global Markets Australia

Graham Carden
Global Markets Australia
0408 541 870


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## sandra56

Hi 

I was called with global market australia about 4 months ago and they rang me again 2 weeks ago.  After careful research I found this company has only started this January, they also boast 90% success rate on index trading (bets on markets) which is a form of gambling bells keeps ringing (Tax Free) is definitely rings another bell. They also have a virtual office in Sydney which rings another bell of scam.  When they called me they said I will need approximately 20-70k which I dont want to give, because of their credibility. In my opinion they don't think have a senior analyst, I think they use a algorithm program to predict if the trades goes up or down.  

Please help me and give me advice with these people.   I am hard working mum and these people keeps ringing me.


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## waza1960

Tell them to go jump. There is no such thing as 90% success rate on indexes. Read the thread.


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## sandra56

waza1960 said:


> Tell them to go jump. There is no such thing as 90% success rate on indexes. Read the thread.




Thank you for the advice......i am thankful i just dont want to invest 30k for a five year duration and the business might go bankrupt you know what I mean I seen it with a lot of finance companies and you will never see hard earn cash ever again  I am divorcee and I rather put it on my children


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## waza1960

> Thank you for the advice......i am thankful i just dont want to invest 30k for a five year duration and the business might go bankrupt you know what I mean I seen it with a lot of finance companies and you will never see hard earn cash ever again  I am divorcee and I rather put it on my children




 Please understand you wouldn't be investing with these guys just gambling and worse you wouldn't even know the odds
  Secondly these guys make plenty of money off the gullible so the only reason they go bankrupt is to get rid of liability and change identity.


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## CanOz

sandra56 said:


> Thank you for the advice......i am thankful i just dont want to invest 30k for a five year duration and the business might go bankrupt you know what I mean I seen it with a lot of finance companies and you will never see hard earn cash ever again  I am divorcee and I rather put it on my children




Find out who the principle is, if they're worth their salt they'll have a LinkedIn profile and be putting themselves out there. 

If you're a crook then the last thing you're gonna do is put yourself out there and have a few hundred well known colleagues yeah?

CanOz


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## sandra56

CanOz said:


> Find out who the principle is, if they're worth their salt they'll have a LinkedIn profile and be putting themselves out there.
> 
> If you're a crook then the last thing you're gonna do is put yourself out there and have a few hundred well known colleagues yeah?
> 
> CanOz




Very logical thinking, next time a Global Market Australia representative calls you make sure, you ask for their name their full name, once you have done that go to LinkedIn and research if they are junior or senior traders and what credibility they have, think outside the square you live in I'm mother so I have to always do that.  Get their name, and see if they are saying is true.  Also ask where they are? Brisbane, Gold Coast or Virtual Office Sydney, Ask for their ABN No. go to ATO website (Im pretty sure this dodgy company are using negative gearing unto their clients)  and when they do call if it sounds too good to be true it is usually a scam


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## matty77

umm anyone can fake a Linkedin profile, its easy to do.

AND anyone can then get lots of friends on linkedin so it makes you "look professional", so many people just build up links but have no idea who the other person is.

if you need to use linkedin to qualify if a company is legit or not then that is a bit of a worry....


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## CanOz

matty77 said:


> umm anyone can fake a Linkedin profile, its easy to do.
> 
> AND anyone can then get lots of friends on linkedin so it makes you "look professional", so many people just build up links but have no idea who the other person is.
> 
> if you need to use linkedin to qualify if a company is legit or not then that is a bit of a worry....




No kidding....LinkedIn is not a list of reputable financial advisers.

My suggestion was that anyone worth their salt would have profile, and if you wanted to be investigative you could see if they had any well known colleagues in the industry....Obviously not fool proof, but being active with LinkedIn its one of the first things i thought of.

Whatever....

CanOz


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## Joules MM1

morecomb and wise

laural and hardy

ernie and bert

posts 24 and 25

tag team wrestling never had it so good.....


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## kotsh

Gents,

I have specifically opened an account on this forum to WARN anyone to fall for the Global Markets Australia Scam.

I am an existing client with them and I have to clarify a few points of the way their (so called) trading (gambling) system works:

1- You receive daily alert messages which suggests on whether a certain index will FALL or RISE over a 2 hour time period (called 1st and 2nd hour)
2- The 1st and 2nd hour in these SMSs is the same every day
3- You place a trade valued at 1% of your capital on BetOnMarkets.com for the index to FALL or RISE within the 1st hour
4- If the trade is successful you get about 92% return on the amount you placed, if not you get back 0.
5- if the trade is unsuccessful in 1st hour, you place another trade for 2nd hour in the same direction with 2% of the capital (famous GAMBLING technique)
6- If 2nd hour is successful you get the 92% return of the 2%, which compensates for the 1st hour loss for a total capital gain of approx 1%, however if you lose 2nd hour, you actually lost 3% of your capital with one trade

As you can see from this system, to break even, the success rate of the trades has to be 75%, not 50%, because with each win you gain 1% and with each loss you lose 3% - VERY RISKY!!!!


Just imagine you are subscribed to global 16 service, and it goes wrong 1 day (which happens) you will literally wipe 16*3% = 48% of your capital in ONE DAY.

Of course based on the "professionally" laid out performance date on fbook and twitter, the success rate is below 75%, which means that even on the long run you are in fact losing money.

I made an ACCURATE analysis of their results for the last 2 month from the twitter posted results. I assumed the Global 7 service as there is no sufficient data for a higher level services (like Global 16) since they do not have all results posted (another ALARM):

Result is: 133 WIN 44 LOSS
For simplicity lets assume that a 1% trade means 100$ and that the return is 100% and not taking into consideration compound %.

Profit = 133Wins*100$ -44Losses*300$ = 100$ profit in 60 days....

Compare that to the Global 7 profit claims on the website: 900-1500$ WEEKLY!



Also the quality of the alerts seem very amateurish and not based on any proper analysis which even I can say with very basic finance background. For example there would be an alert sent on days where there is important financial announcements during the 1st or 2nd hour which may heavily impact the direction of an index, how could they know in advance the outcome of these announcements?

Last but not least, the customer service seems very dodgy:
- account manager never answer call to mobile 
- response to emails only occasionally with generic crap
- You can just sense that they are lying, for example they would say something like their system being tested for YEARS for 80-90% success rate when the company doesn't even exist for that long!

I hope this information will save anyone from falling for these bunch of scammers/liars/thieves.


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## kotsh

I hope there is someone here that understand the legal aspects.

While the company must have made sure they are not liable for any losses in clients accounts, I presume they ARE responsible for providing accurate information about past performances and the product they are selling, which is clearly NOT CORRECT.

Is there any consumer protection law or legal actions that could be taken against this company for providing false information to trick people into buying the service?


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## drivesafely

I was contacted recently by someone from Global Markets Australia, and found this thread amongst others when I googled them to find out more about them. I see there’s also some info about them on a site called Trade2win.com that anyone considering signing up to them should read first. 
I noted from their website that the suggested profits that could be made by subscribing to their service were based on $500 “trades”, and decided to use their results as a guide to how I would have gone had I been a subscriber. 
It’s difficult to come up with anything other than an approximate figure as the results they publish on their Facebook page seem vague & unaccountable, and differ from the results on their Twitter page. However, from either source the results are scary!
Since 24th June up to 4th July the cost of trading on their alerts would have been something in the area of $145K, with a return of approximately $102K! 
That’s a paper loss of over $40K in just 8 trading days, and I guess for those that have already subscribed, it’s a real loss. Perhaps their results were better previously, but based on these figures they're not for me, but good luck for those that go ahead!


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## Uoweme

*Re: Global Markets Australia - Is this a scam? YUP - http://wealthsolutionsaustralia.*

www.globalmarketsaustralia.com are a scam. Check this out folks.....http://wealthsolutionsaustralia.com/ look familiar.......


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## drivesafely

Earlier tonight I had cause to kill some time and decided to clean up my “Favourites” on my computer. 
I noticed that I still had the Global Markets Australia site saved there, opened it & saw that since my last visit there had been a recent post added to the site entitled “Mark Tencaten Singapore Conference 2013”. Intrigued, I opened it and as I read his “comments” I have to admit I was impressed by the article and what Mr. Tencaten’s views were on the economy. Momentarily I questioned myself. The thought crossed my mind that maybe I had misjudged the company. Was my original assessment of them wrong? 
Nah.
Here’s the link to what Mr. Tencaten supposedly said at the company’s supposed Singapore conference: http://www.globalmarketsaustralia.com.au/_blog/Blog/post/mark-tencaten-singapore-conference-2013/
Have a read. Then have a read of this. 
Here’s the result of a quick Google search: These are comments attributed to Warren Buffett & reported by Reuters on 6th May 2007, over 6 years earlier: http://www.reuters.com/article/2007/05/07/berkshire-indexfunds-idUSN0628419820070507 
Aren’t the similarities remarkable! Looks to me to be a classic example of blatant deceitful plagiarism, which is of some concern when you consider the considerable sums of money they require people to pay them for their “service”. What do you think?


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## barney

drivesafely said:


> Aren’t the similarities remarkable! Looks to me to be a classic example of blatant deceitful plagiarism




Absolutely .... and well spotted


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## CanOz

barney said:


> Absolutely .... and well spotted





Well spotted I say, that's quoted verbatim in most spots...

I think I'll forward it to Reuters when I get back home. 

This is just my opinion, but issues like this point to unscrupulous behavior. 

We need tougher laws, heavier penalties, including jail terms.

There is no consequence.


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## drivesafely

Looks like this Mark Tencaten has kept himself busy since he left Regent Markets  http://www.trade2win.com/boards/educational-resources/120920-regent-markets-pty-ltd-21.html   First he gave us Global markets Australia, then World Index Exchange  http://www.worldindexexchange.com.au  quickly followed by Wealth Solutions Australia  http://wealthsolutionsaustralia.com. 
Now, after offering unsuspecting cashed up investors his moneymaking opportunity for upwards of $71,900 http://www.trade2win.com/boards/educational-resources/120920-regent-markets-pty-ltd-19.html he has now come up with something for the common man, which I guess means you don't really need to pay his other companies all that money they're asking of you after all: http://www.intradaybettingservices.com.au 
So what’s next? Apparently it's Thailand here we come! 
http://www.expat-blog.com/en/jobs/a...390--pa-to-the-managing-director-bangkok.html
http://classifieds.bangkokpost.com/?ad=9469
http://www.chiangmaipost.net/classifieds/?ad=9469
http://pattaya-times.com/classifieds/?ad=9469


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## kotsh

Same for the other blog entry:

http://www.globalmarketsaustralia.c...alia-international-financial-markets-outlook/

Original Link:
http://www.dailyfinance.com/2010/11/30/10-investing-facts-you-probably-dont-know-but-should/


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## kotsh

I remain shocked of the strict Australian regulations for every single little thing, and in the end people can get away with scams like this, even with the knowledge of "reputable" authorities like ASIC.


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## drivesafely

Well, I guess it’s safe to assume the Mark Tencaten/Global Markets Australia scam has finally run out of legs, or [more appropriately] gullible people to fleece! Evicted from their Brisbane and Gold Coast offices, the company phone number has also been disconnected, as have their Facebook & Twitter accounts, which they used to promote their supposed successful trading results. 
Authorities estimate that before disappearing they managed to dupe millions of dollars from people who thought they were investing in a proven wealth creation strategy, only to discover after they had parted with their money that it was just a sham. 
If you were an investor, and you think Mark is a reasonable guy and would be happy to give you back your money, unless you have his new mobile number [old one’s disconnected] I guess you could send him a “friend” request on his Facebook page https://www.facebook.com/Markjamestencaten 
My guess is that it will also disappear, probably within hours of this post, so if you want to remember what he looks like, save his photo!


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## kotsh

Can anyone who is a victim of Global markets Australia get in touch with me through private message? The company was seized and is getting liquidated now. We need to all speak up and inform the authorities before these thieves get away with it.


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## PaulNSW

kotsh said:


> Can anyone who is a victim of Global markets Australia get in touch with me through private message? The company was seized and is getting liquidated now. We need to all speak up and inform the authorities before these thieves get away with it.




http://www.slatergordon.com.au/services/class-actions/cwa

Check out the link above for the Class Action against Global Markets


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## PaulNSW

drivesafely said:


> Well, I guess it’s safe to assume the Mark Tencaten/Global Markets Australia scam has finally run out of legs, or [more appropriately] gullible people to fleece! Evicted from their Brisbane and Gold Coast offices, the company phone number has also been disconnected, as have their Facebook & Twitter accounts, which they used to promote their supposed successful trading results.
> Authorities estimate that before disappearing they managed to dupe millions of dollars from people who thought they were investing in a proven wealth creation strategy, only to discover after they had parted with their money that it was just a sham.
> If you were an investor, and you think Mark is a reasonable guy and would be happy to give you back your money, unless you have his new mobile number [old one’s disconnected] I guess you could send him a “friend” request on his Facebook page https://www.facebook.com/Markjamestencaten
> My guess is that it will also disappear, probably within hours of this post, so if you want to remember what he looks like, save his photo!




Did anyone have a photo that they are able to post up on here?


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## piggybank

It appears some companies don't mind having him on their books - must be a guy with the "gift of the gab"...



​


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## Uoweme

PaulNSW said:


> http://www.slatergordon.com.au/services/class-actions/cwa
> 
> Check out the link above for the Class Action against Global Markets





Here is Mark Tencattern new setup and new Name: Mark Thomson.

http://www.worldbinarytraining.com/


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## RT14

It sounds like another Russell Johnson thing


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## Palacaras

*http://www.etcapital.com.au/ http://www.globalmarketsaustralia.com*

http://www.etcapital.com.au - this is a scam aka http://www.eurtrade.com.au

beware another gold coast scam


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## Uoweme

drivesafely said:


> Looks like this Mark Tencaten has kept himself busy since he left Regent Markets  http://www.trade2win.com/boards/educational-resources/120920-regent-markets-pty-ltd-21.html   First he gave us Global markets Australia, then World Index Exchange  http://www.worldindexexchange.com.au  quickly followed by Wealth Solutions Australia  http://wealthsolutionsaustralia.com.
> Now, after offering unsuspecting cashed up investors his moneymaking opportunity for upwards of $71,900 http://www.trade2win.com/boards/educational-resources/120920-regent-markets-pty-ltd-19.html he has now come up with something for the common man, which I guess means you don't really need to pay his other companies all that money they're asking of you after all: http://www.intradaybettingservices.com.au
> So what’s next? Apparently it's Thailand here we come!
> http://www.expat-blog.com/en/jobs/a...390--pa-to-the-managing-director-bangkok.html
> http://classifieds.bangkokpost.com/?ad=9469
> http://www.chiangmaipost.net/classifieds/?ad=9469
> http://pattaya-times.com/classifieds/?ad=9469





We just had a phone call from http://www.worldbinarytraining.com/ - the guys name was Mark Thomson -


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## drivesafely

Some questions for anyone connected to World Binary Exchange. 
On your website you state that “Our primary focus has been and will continue to be honesty, integrity and professionalism”. 
If you’re running such an honest business, then why are you misleading prospective clients by publishing false records of results of your trend signals to make it appear that you have a much higher success rate than you actually do?
Also on your website,  in the FAQ section you state that “World Binary Exchange has been servicing clients since October 2011”. One of your testimonials, supposedly written by one of your clients, Tracey Bold states “Two years ago my husband told me about World Binary Exchange”.
Why then does a search of the ASIC website reveal that your company was originally registered with ASIC on 20th February, 2013 under the name “Global Intra-Day Commodities Pty. Ltd.”, and the name wasn’t changed to World Binary Exchange until 23rd October 2013?


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## drivesafely

Any "World Binary Exchange" members out there who can give us an update on what's happening with the company? Apparently their phone number [02 8607 8812] isn't working. Has it been disconnected?


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## Gen_Why

I suspect these guys have reincarnated as EzyClicks or they operate on the exact same model.


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