Australian (ASX) Stock Market Forum

Global Markets Australia - Is this a scam?

Jump to new
F

flashone

Joined
30 January 2013
Posts
1
Reactions
0
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.
 
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.
 
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
Click to expand...
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!
:cry:
 
They're only missing the couple deeply in love sitting in the office kitchen discussing their strategy over a nice Bordeaux.
 
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
Click to expand...

The comments and likes on facebook look fake.
 
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.
Click to expand...

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
 
matty77 said:
keep it here for reference though so it comes up in google that its a scam.
Click to expand...

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

CanOz
 
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
 
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
Click to expand...

So Normy, what exactly are they offering?

any of this :spam: perhaps?

CanOz
 
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). :2twocents
 
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!
 
easytarget said:
does anyone actually personally know a real person who has dealt with these guys?
Click to expand...

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?
 
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?
Click to expand...
 
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.
Click to expand...

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.
 
Top