Advanced exchange trading - scam?

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thatdamnJoe

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Just got a call from someone who desperately wants me to spend "30-40 minutes" with one of their consultants.

They "help people to invest in the stock market" with "guaranteed returns of 25-40% in six months".

So I ask them what kind of a scam is this, no one can guarantee those returns. The lady reckons the consultant can tell me more and I just have to see him. So I ask if they're registered with the Financial Services Board and she claims they are.

I dodged and dived and she'll call back in a week since I'm so busy right now.

This should be interesting

EDIT: Company calls itself : Advanced Exchange Trading
And they just randomly called me from a number in the yellow pages....which I'm not registered on.
 
Sounds similar to something a colleague of mine was looking at on the web - we both agreed it was impossible to get those kinds of returns, but he was tempted to put in just $50 and try it... I don't know if he did, I'll ask him tomorrow what the website was and if he did it.
 
from http://www.sharetrackin.com/ContactInfo/Contactinfo.asp

ADVANCED EXCHANGE TRADING
Gauteng

Manager: Mr W Harmse
Tel no: +27 12 663 9772
Fax no: +27 12 663 9774
Address:
First Floor, Suite 7, Cybercon House, Embankment Ave, Centurion

Postal Address:
Postnet Suite 439, Private Bag X108, Centurion, 0046
Email:
[email protected]

edit: there is no link from the main site to this info
 
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"guaranteed returns of 25-40% in six months".

Um, how is this not the ONLY RED FLAG you need. Why wouldn't they then sell their own homes, put their entire bonds on the line and snowball to millions in a few years instead of wasting time cold calling you out of the blue.

I smell a pyramid scheme here..
 
If it sounds too good to be true - it is. Thoroughbred scam by the sounds of things...
 
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It certainly seems scammy. But having spent some time in front of law books, I know better than to make such claims without any proof.

Looks dodgier than dodgetown though

EDIT:
I'm curious as to how the okes will try and explain the guaranteed returns. And what the FSB would say to their claims
 
Gaz{M} said:
"guaranteed returns of 25-40% in six months".

Um, how is this not the ONLY RED FLAG you need. Why wouldn't they then sell their own homes, put their entire bonds on the line and snowball to millions in a few years instead of wasting time cold calling you out of the blue.

I smell a pyramid scheme here..
Click to expand...

+1

If they had that kind of knowlege/experience, they would be making the money for themselves instead of charging fees for teaching others to do it.
 
When they call back (slim chance, cos they like to catch their victims by surprise!) tell them you and one of your friends who work at the FSB can't wait to meet with them and invest some money.
 
Isn't it illegal to promise a certain return in a period of time...

Please do reply otherwise, because I know funds aren't allowed to promise such facts IIRC.
 
Reply to all the Questions asked

I would firstly like to explain that we don't give a guarantee on the clients money but we do give a product guarantee, if by using the product and you do not make a 40% return in the six months we give you a fullback money guarantee.Our product is a software program which do all your technical and fundamental annalists for you. Should you require any other information regarding this topic please feel free to contact us on 012 663 9772.

Bianca Harmse
Advanced exchange Trading
[email protected]
 
Lol. Sounds like timeshare!

Interest tag "forex" ... mmmm ... ?
 
Waaib said:
Yes because hot investment people do better than non hot ones. It's like red cars go faster than others.
Click to expand...

Dono, I had to ask.

I think she's hot. Maybe she'll post a picture ? Do you think she might be hot ? Bianca has a sexy ring to it :o
 
Advanced Exchange Trading said:
I would firstly like to explain that we don't give a guarantee on the clients money but we do give a product guarantee, if by using the product and you do not make a 40% return in the six months we give you a fullback money guarantee.Our product is a software program which do all your technical and fundamental annalists for you. Should you require any other information regarding this topic please feel free to contact us on 012 663 9772.

Bianca Harmse
Advanced exchange Trading
[email protected]
Click to expand...

So you dont guarantee growth, just that using your program will result in that kind of growth?

No program in the world can predict market movement. And even if you could enter all your accounting info into that program to enable it to more accurately forecast earnings, how could you possibly allow for market sentiment which is purely human and sometimes trades down even if earnings is up. How does your program allow for Malema statements? A coup in zimbabwe? Zuma being let off? All of these thigns will influence the stock market and exchange rates.

Perhaps you would like to tell us what your program says the Rand/$ will be sometime next week? Put or call?
 
thatdamnJoe said:
So you dont guarantee growth, just that using your program will result in that kind of growth?

No program in the world can predict market movement. And even if you could enter all your accounting info into that program to enable it to more accurately forecast earnings, how could you possibly allow for market sentiment which is purely human and sometimes trades down even if earnings is up. How does your program allow for Malema statements? A coup in zimbabwe? Zuma being let off? All of these thigns will influence the stock market and exchange rates.

Perhaps you would like to tell us what your program says the Rand/$ will be sometime next week? Put or call?
Click to expand...

I think she puts out and hopefully she'll call :)
 
Advanced Exchange Trading said:
I would firstly like to explain that we don't give a guarantee on the clients money but we do give a product guarantee, if by using the product and you do not make a 40% return in the six months we give you a fullback money guarantee.Our product is a software program which do all your technical and fundamental annalists for you. Should you require any other information regarding this topic please feel free to contact us on 012 663 9772.

Bianca Harmse
Advanced exchange Trading
[email protected]
Click to expand...

So you have software that can analyse and predict market movements, but not one that can figure out spelling and grammar?
 
Oh. They refund the cost of the program not the funds you invest. Like duh!
 
Advanced Exchange Trading said:
Our product is a software program which do all your technical and fundamental annalists for you. Should you require any other information regarding this topic please feel free to contact us on 012 663 9772.

Bianca Harmse
Advanced exchange Trading
Click to expand...

Boy George is an annalist,isn`t he??
 
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