-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: What is your non-negotiable item, device, or app for international travel?
Advanced exchange trading - scam?
- Thread starter thatdamnJoe
- Start date
-
- Tags
- forex
Depends on what data you want and what products you're trading - you pay for each feed separately usually. IIRC i-net bridge have a cheaper product with data feeds but your broker should provide you with this all when you register an account with them, and you can thereafter request further data feeds at a minimal cost instead. I'm not entirely sure why most average Joe investors would want as much detail as a professional product though.
However, you can get an app called Thomson Markets from Thomson Reuters which is a thin client and provides you with sufficient data. That is around R15k iirc. But again, speak to your broker rather. It all depends on what level of detail you want to go in to. You can get historical data which might mean sweet jack to you, but you'll still land up paying for it with some of these apps.
The major providers are Bloomberg, Thomson Reuters, i-Net Bridge and McGregors BFA, and there are a few other smaller providers out there as well. But to be honest, they're all overkill for your average Joe investor. You might want to check out www.sharenet.co.za as well.
BTW - the R20k is the base price. Some terminals can cost in excess of R200k pa...
Herbert_Dork
New Member
- Joined
- Apr 7, 2009
- Messages
- 5
- Reaction score
- 0
I phoned up Sharetrackin and asked for a presentation on their software. They asked me a thousand questions about my job, how much I earn, if I had a gold card, etc. They then asked if I would consider buying the product the next day when they presented? I said that I was still doing research and that I would not buy it then. Well, I waited for 45 minutes for them to pitch up and they never did. I guess they thought that it was not worthwhile seeing someone who may not buy their product eventually.
There are other, very good software packages on the market. The best I have seen is ShareMagic. Standard Bank do their technical analysis training on the product.
There are other, very good software packages on the market. The best I have seen is ShareMagic. Standard Bank do their technical analysis training on the product.
guest2013-1
guest
- Joined
- Aug 22, 2003
- Messages
- 19,800
- Reaction score
- 13
Yea watch out for these, they do give you relevant info, but they'll tell you almost anything to get you to buy it immediately with your credit card. Like (to me) they said, it will be a debit order and that they do it from your credit card account. Then I discovered they put it on Budget terms. And there went my emergency credit card and I only got to pay it off 4 years later. I was so ****ing pissed. Tried giving it back for the "guaranteed refund" and they refused plainly.
Ask them if this will make your cripple brother walk again, the guy would probably say something along the lines of "yes it will, you'd have the money to do anything you like!"
Herbert_Dork
New Member
- Joined
- Apr 7, 2009
- Messages
- 5
- Reaction score
- 0
Ha, ha! I've heard loads of things about these guys. I brought a mate with me, so we wasted 45 minutes at a Mugg and Bean, and it ended up costing me R45 as well.
I just use Standard bank Online Share Trading and ShareMagic. There are no 'hidden' costs or shady salespeople giving you gaurantees.
It's not impossible to get those kinds of returns. I got 37% over a similar period a few years ago investing with a local investment firm. The risk was on the high side though I must add.
I also made the mistake of falling for this crap a few years ago. The guy pitched up, gave a short rundown of their forex trading system, and then tried to pressure me into forking out several grand right there and then, and man was he fscking persistent. I managed to stand my ground tho and got rid of him eventually 
I also made the mistake of falling for this crap a few years ago. The guy pitched up, gave a short rundown of their forex trading system, and then tried to pressure me into forking out several grand right there and then, and man was he fscking persistent. I managed to stand my ground tho and got rid of him eventually
People like that you have to be blunt with to the point of being rude.
SharetrackinScam
New Member
- Joined
- May 8, 2010
- Messages
- 1
- Reaction score
- 0
Do not buy Sharetrackin!!!
Their activities are so wide spread that the DTI have posted a consumer alert. The only problem is that they operate through several resellers that you won’t find on the web. It seems that they change name as soon as it becomes too well known. They operate just under the radar and are getting away with fraud on a massive scale. Please see the links below. They are targeting people trying to survive. The people they dupe are those who are trying to make the most of the nest eggs they have. Please expose them for the frauds they are. They are now turning their attention to black executives (ask the managers at the SABC and E-tv). Most of these guys won’t complain and will just accept it and try to resell the software. It seems to me that they target people that will be to ashamed to admit that they were taken for a ride.
* http://www.hellopeter.com/Sharetrackin/complaints-and-compliments/
* http://www.moneyweb.co.za/mw/view/mw/en/page295046?oid=285454&sn=2009
Company/franchise
* Investors choice
* C&K Moneyline
* Sharetrakin
* Absolute technologies
* Bonamia trading solutions
* Dynamic trading solutions
* Fraction share investment
* Global equity trading
* Investment control technologies
* Mustang marketing
* Pro equity trading solutions
* Proceedo wealth
* Psi quality trade
You will find that some of these resellers are in the same building and on the same floor. Most of their contact details are exactly the same.
Their activities are so wide spread that the DTI have posted a consumer alert. The only problem is that they operate through several resellers that you won’t find on the web. It seems that they change name as soon as it becomes too well known. They operate just under the radar and are getting away with fraud on a massive scale. Please see the links below. They are targeting people trying to survive. The people they dupe are those who are trying to make the most of the nest eggs they have. Please expose them for the frauds they are. They are now turning their attention to black executives (ask the managers at the SABC and E-tv). Most of these guys won’t complain and will just accept it and try to resell the software. It seems to me that they target people that will be to ashamed to admit that they were taken for a ride.
* http://www.hellopeter.com/Sharetrackin/complaints-and-compliments/
* http://www.moneyweb.co.za/mw/view/mw/en/page295046?oid=285454&sn=2009
Company/franchise
* Investors choice
* C&K Moneyline
* Sharetrakin
* Absolute technologies
* Bonamia trading solutions
* Dynamic trading solutions
* Fraction share investment
* Global equity trading
* Investment control technologies
* Mustang marketing
* Pro equity trading solutions
* Proceedo wealth
* Psi quality trade
You will find that some of these resellers are in the same building and on the same floor. Most of their contact details are exactly the same.
www.powerstocks.co.za - If you join them and listen to what they say and do, you will make money. Don't care if you think this is a sales pitch or not. I have been a member since September last year and I'm smiling. I keep seeing the ads of these fly-by-nights. Ask them why they are not putting in their own money, then go and read how much powerstocks have invested in their own strategies. These guys put their own money where their mouth is.
Learn to spell before trying to scam people. It makes a difference.
helencatzy
Member
- Joined
- Nov 26, 2010
- Messages
- 10
- Reaction score
- 0
Hi all,
My husband worked for one of the many companies selling the product "Share Trackin". They lured him in with the promise of an aggressive commission scheme based on sales the consultants makes. He was one of the telemarketers cold calling people from the lists that the bosses claimed have been created by referrals from current clients. The prospective clients had to match a certain profile before a consultant would see them, these criteria are: White male, 30 - 65 years of age, earning enough to be able to pay R20 000 off the cuff for the product, they need your salary and credit card details so that they can determine whether you can in fact afford the amount.
The target is 4 appointments a day where the prospective clients meet all the criteria.
After about 3 weeks of my husband working for these people, they come up with a whole load of nonsense that he will be fined for all the calls he makes unless he gets the target of successful appointments. He gets people who fit the criteria lined up and the following day the "big" boss tells him that they are not suitable and throws them out and doesn't even bother to call the people to cancel the appointment. I then asked my husband if it is possible that all these peoples names and phone numbers can actually be friend referrals because some of these people have been dead up to 5 years. He did some sniffing and found out that the lists are bought from NCD (National Consumer Database).
So for those of you who are confused, this company is a total scam.
And my husband left the company the day he was told that he was being fined for the calls he was making.
My husband worked for one of the many companies selling the product "Share Trackin". They lured him in with the promise of an aggressive commission scheme based on sales the consultants makes. He was one of the telemarketers cold calling people from the lists that the bosses claimed have been created by referrals from current clients. The prospective clients had to match a certain profile before a consultant would see them, these criteria are: White male, 30 - 65 years of age, earning enough to be able to pay R20 000 off the cuff for the product, they need your salary and credit card details so that they can determine whether you can in fact afford the amount.
The target is 4 appointments a day where the prospective clients meet all the criteria.
After about 3 weeks of my husband working for these people, they come up with a whole load of nonsense that he will be fined for all the calls he makes unless he gets the target of successful appointments. He gets people who fit the criteria lined up and the following day the "big" boss tells him that they are not suitable and throws them out and doesn't even bother to call the people to cancel the appointment. I then asked my husband if it is possible that all these peoples names and phone numbers can actually be friend referrals because some of these people have been dead up to 5 years. He did some sniffing and found out that the lists are bought from NCD (National Consumer Database).
So for those of you who are confused, this company is a total scam.
And my husband left the company the day he was told that he was being fined for the calls he was making.
Webber.southafrica
New Member
- Joined
- Apr 20, 2011
- Messages
- 1
- Reaction score
- 0
100% agree - slavery
I fully agree with the comments made by helencatzy.
The software package being sold is called Sharetrackin and it is promoted through a telemarketing company called Mustang Marketing based in Centurion. The package costs R16,950. The commission paid to a telesales consultant is R100 per SALE. The telesales staff are not told what they are selling, but are given "training" on how to sell the unknown software package. One of the lines that the telesales person are asked to recite to the person being called is that they will get "R1000 free shares" (apart from the stale jokes and comebacks for various possible answer!)
Read more complaints here:
I placed a complaint on HelloPeter about this but it seems that HelloPeter believes this to be an "employment issue" and not a service issue. Hmmm.... I disagree, how can this be an employment issue when people are never employed and an employment contract never exists between the parties? Suspicious activity at Mustang Marketing? Definitely seems suspicious to me!
If they treat their own "staff" (unpaid) like rubbish, how do they treat their customers?
http://www.complaintsboard.com/complaints/sharetrackin-c370365.html#c962229
Mustang Marketing in Centurion, managed by Rickie, seems to be running a "use-labour-for-free" scam. They definitely get people to work for them for free. They advertise positions to new victims every week in a lot of media and on the Internet, but Mustang Marketing don't pay these poor people.
Rickie and the other managers from Mustang Marketing mistreat the call-centre staff, they belittle, manipulate and threaten the staff making these people believe that they are "THE all powerful" and that no-one can touch them. They use well known abusive controlling tactics, like those used in the army. They have no respect for anyone.
There is also a catch when people become "employed", the "staff" do NOT get employment contracts and are told that they are "on training". After a few weeks or perhaps a month, if the staff do not walk out and never return (out of their own choice),they are given a range of excuses (or threats) and told to "leave" in the rudest possible way - and of course these people walk away without getting a cent for the hours they spent calling people from lists!
This is how they have people work for them year in and year out - at zero cost!
These poor and desperate work seekers were initially promised a basic salary of R3000 a month plus commission, and they are told they can earn up to R25,000 a month.
This seems impossible because the commission is R100 per SALE. This would mean that a call centre employee would need to make 10 SALEs a day (not leads) for 22 days a month. How do you get 10 people a day to splash out that sort of money on a stock market program? I certainly don't want it, and neither does anyone else that I know, and we are all high income earners.
However, the story gets more interesting, after a bit more research, I found the post advertised on the Internet for R3550pm, but after visiting the premises and speaking to some of the people, they don't even get R3000 out a month, it is less than this. The horror stories are all the same, they all are desperate for work, and "everyone eventually leaves after they have had enough of the abuse".
Beware of these people - they certainly seem prey on the poor.
I am almost certain that several laws are being broken here and that the department of labour as well as the media should be informed so that they can investigate what is going on.
The best place to start with the media is 3rd Degree because everyone has SABC, and the SABC viewers are the most likely victims of Mustang Marketing (the low income job seekers). 3rd Degree should investigate and report their findings.
A pinhole camera works wonders.
Mustang marketing in Centurion - beware. Do not blame or hang up on the call centre, talk to the staff about the managers and how the staff is treated, tell them about the Internet and read up on other people's experiences. Remember the name - Mustang marketing!
I fully agree with the comments made by helencatzy.
The software package being sold is called Sharetrackin and it is promoted through a telemarketing company called Mustang Marketing based in Centurion. The package costs R16,950. The commission paid to a telesales consultant is R100 per SALE. The telesales staff are not told what they are selling, but are given "training" on how to sell the unknown software package. One of the lines that the telesales person are asked to recite to the person being called is that they will get "R1000 free shares" (apart from the stale jokes and comebacks for various possible answer!)
Read more complaints here:
I placed a complaint on HelloPeter about this but it seems that HelloPeter believes this to be an "employment issue" and not a service issue. Hmmm.... I disagree, how can this be an employment issue when people are never employed and an employment contract never exists between the parties? Suspicious activity at Mustang Marketing? Definitely seems suspicious to me!
If they treat their own "staff" (unpaid) like rubbish, how do they treat their customers?
http://www.complaintsboard.com/complaints/sharetrackin-c370365.html#c962229
Mustang Marketing in Centurion, managed by Rickie, seems to be running a "use-labour-for-free" scam. They definitely get people to work for them for free. They advertise positions to new victims every week in a lot of media and on the Internet, but Mustang Marketing don't pay these poor people.
Rickie and the other managers from Mustang Marketing mistreat the call-centre staff, they belittle, manipulate and threaten the staff making these people believe that they are "THE all powerful" and that no-one can touch them. They use well known abusive controlling tactics, like those used in the army. They have no respect for anyone.
There is also a catch when people become "employed", the "staff" do NOT get employment contracts and are told that they are "on training". After a few weeks or perhaps a month, if the staff do not walk out and never return (out of their own choice),they are given a range of excuses (or threats) and told to "leave" in the rudest possible way - and of course these people walk away without getting a cent for the hours they spent calling people from lists!
This is how they have people work for them year in and year out - at zero cost!
These poor and desperate work seekers were initially promised a basic salary of R3000 a month plus commission, and they are told they can earn up to R25,000 a month.
This seems impossible because the commission is R100 per SALE. This would mean that a call centre employee would need to make 10 SALEs a day (not leads) for 22 days a month. How do you get 10 people a day to splash out that sort of money on a stock market program? I certainly don't want it, and neither does anyone else that I know, and we are all high income earners.
However, the story gets more interesting, after a bit more research, I found the post advertised on the Internet for R3550pm, but after visiting the premises and speaking to some of the people, they don't even get R3000 out a month, it is less than this. The horror stories are all the same, they all are desperate for work, and "everyone eventually leaves after they have had enough of the abuse".
Beware of these people - they certainly seem prey on the poor.
I am almost certain that several laws are being broken here and that the department of labour as well as the media should be informed so that they can investigate what is going on.
The best place to start with the media is 3rd Degree because everyone has SABC, and the SABC viewers are the most likely victims of Mustang Marketing (the low income job seekers). 3rd Degree should investigate and report their findings.
A pinhole camera works wonders.
Mustang marketing in Centurion - beware. Do not blame or hang up on the call centre, talk to the staff about the managers and how the staff is treated, tell them about the Internet and read up on other people's experiences. Remember the name - Mustang marketing!
Last edited:
Seems like this is still ongoing. A sales consultant from Pro Equity Trading Solutions came to see me last night, and when the time came for me to put pen to paper, I noticed that they wanted to charge me an amount of R16920 against the budget facility after I was led to believe I would be paying an amount of R285 by debit order.
I explained that the budget facility is purely for emergency purposes and that I am not prepared to use it for this and would thus NOT be signing the credit card slip. I was told that this would not be a problem, that they have made similar arrangements in the past, and that they would contact me the following day (today).
I phoned the consultant this morning (after getting the correct phone number from one of their "branches" - NONE of the numbers on their documentation even worked), and he said that he was very busy and would get back to me later. Not liking what I was hearing, I went online and checked my credit card statement. And there was the debit for R16920 against my budget facility.
I immediately phoned the consultant, who was unavailable. I then phoned the ABSA credit card division, and they told me the cannot do anything. I must prove that I tried to get the money back from MoneyLine (who made the debit) before I can open a dispute, which in itself would take 21 days.
I then contacted the FSB and opened an investigation with them.
While I was on the phone with the FSB one of the telesales people contacted me and asked me if I was happy with my purchases. I explained that I hadn't authorised any purchases and that I was busy reporting this to the FSB. She put me on the line with her manager, who told me she would consult with their legal department and get back to me.
Eventually the telesales girl got back to me and I explained that I am returning their software sealed and unopened as is my right and am expecting a full refund today, else I shall be opening the dispute with ABSA. They gave me a receipt for the returned software, and I'm now waiting to see when the transaction reversal is going to happen.
This has reaaly not been worth the effort and time wasted, and I hope someone else gets to benefit from my experience here.
I explained that the budget facility is purely for emergency purposes and that I am not prepared to use it for this and would thus NOT be signing the credit card slip. I was told that this would not be a problem, that they have made similar arrangements in the past, and that they would contact me the following day (today).
I phoned the consultant this morning (after getting the correct phone number from one of their "branches" - NONE of the numbers on their documentation even worked), and he said that he was very busy and would get back to me later. Not liking what I was hearing, I went online and checked my credit card statement. And there was the debit for R16920 against my budget facility.
I immediately phoned the consultant, who was unavailable. I then phoned the ABSA credit card division, and they told me the cannot do anything. I must prove that I tried to get the money back from MoneyLine (who made the debit) before I can open a dispute, which in itself would take 21 days.
I then contacted the FSB and opened an investigation with them.
While I was on the phone with the FSB one of the telesales people contacted me and asked me if I was happy with my purchases. I explained that I hadn't authorised any purchases and that I was busy reporting this to the FSB. She put me on the line with her manager, who told me she would consult with their legal department and get back to me.
Eventually the telesales girl got back to me and I explained that I am returning their software sealed and unopened as is my right and am expecting a full refund today, else I shall be opening the dispute with ABSA. They gave me a receipt for the returned software, and I'm now waiting to see when the transaction reversal is going to happen.
This has reaaly not been worth the effort and time wasted, and I hope someone else gets to benefit from my experience here.
Also taken for a ride
I've also been taken for a ride by them, thinking they would honor the cooling off period. They never explained that when _they_ broke the seal on the software (before handing it to me), they were actually voiding my cooling off period, and refuse to refund saying _I_ damaged the software/seal and they will not accept it.
I am looking for more people who were ripped off by them, since the only way to get them to refund would be a class action lawsuit to prove their modus operandi.
I don't like leaving links in forums, but if you don't mind, other victims should visit iwasrippedoff.co.za so we can all join together against them.
I've also been taken for a ride by them, thinking they would honor the cooling off period. They never explained that when _they_ broke the seal on the software (before handing it to me), they were actually voiding my cooling off period, and refuse to refund saying _I_ damaged the software/seal and they will not accept it.
I am looking for more people who were ripped off by them, since the only way to get them to refund would be a class action lawsuit to prove their modus operandi.
I don't like leaving links in forums, but if you don't mind, other victims should visit iwasrippedoff.co.za so we can all join together against them.
I would think only if you fail to deliver, even once, on that promise
I am sorry but WTF people. How do you fall for these stories? If people are selling these "magical" programs / returns then there is something rotten.
If someone had software that could get 25-40% returns in 0.5 years then they would not be selling it to you for 20k.....
Well I admin it was not the brightest thing to do at that time (signing the contract). I was however under the impression that I would be allowed to cancel and I returned it the next day, when I realised that this is not for me and I doubted the claims about the returns. Fact is they still legally had to refund, which they refuse to do.
True. And if I was you I would make sure that if it is not refunded today, it is reported to the right people.
Good luck.