Newbie needs help - Shares

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klipdrifter

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Location
George, South Africa
Hi everyone

So I am a total newbie at this and would like some more "experienced" people to give me some feedback.

We recently had a employee from a company called "Shareworx" who introduced us to a product priced at ±R20,000 that includes the following:

1. Share trading software

2. Send you a SMS each Monday which give you a list of shares you should invest in for that week when it hits a certain value and also when to sell it when it hits a certain higher value or lower value (with a build in Fail safe model)

3. Now this is where I started having my doubts, he stated that if you place R10,000 in this trading account you will be provided an additional R10 for each rand you put in (In this case R100,000), but they also have a fail safe that if your losses hit R10,000 they bail out to break even with their R100,000 investment. If you do however make a profit they will take 7% commission fees.

4. He stated you don't have to follow their instructions as per the SMS your receive and you can do your own trading if you like.


I would like to point out I was not present during this presentation and I am providing the details above via what I heard from my fellow colleagues...


Now this is where you lovely people come in:

1. Have you heard of these products / services?
2. Is it actually a viable way of investing your money?
3. Is this a scam?
4. Anything else you think I should know about this?


Thanks in advance for taking the time to read this and shed some light :)
 
There is no good "system" for shares. If there were, the person that invented would use it to make themselves the richest person in the world, he wouldn't tell other people about it, and he most certainly wouldn't sell the "system".

It's a scam.

Never buy any "system" that promises to make you money. Whether it is in shares, multi level marketing, or whatever. Just don't do it
 
Sounds like the Saffa Method scam.

Anything you need to pay software for is a scam
 
EasyEquities.

Justonelap.com

Off to a good start.


===
3. Is this a scam?

Yes. (Probably not, but it's a waste of money for sure.)
 
klipdrifter said:
Hi everyone

So I am a total newbie at this and would like some more "experienced" people to give me some feedback.

We recently had a employee from a company called "Shareworx" who introduced us to a product priced at ±R20,000 that includes the following:

1. Share trading software

2. Send you a SMS each Monday which give you a list of shares you should invest in for that week when it hits a certain value and also when to sell it when it hits a certain higher value or lower value (with a build in Fail safe model)

3. Now this is where I started having my doubts, he stated that if you place R10,000 in this trading account you will be provided an additional R10 for each rand you put in (In this case R100,000), but they also have a fail safe that if your losses hit R10,000 they bail out to break even with their R100,000 investment. If you do however make a profit they will take 7% commission fees.

4. He stated you don't have to follow their instructions as per the SMS your receive and you can do your own trading if you like.


I would like to point out I was not present during this presentation and I am providing the details above via what I heard from my fellow colleagues...


Now this is where you lovely people come in:

1. Have you heard of these products / services?
2. Is it actually a viable way of investing your money?
3. Is this a scam?
4. Anything else you think I should know about this?


Thanks in advance for taking the time to read this and shed some light :)
Click to expand...
Run! Fast.
 
klipdrifter said:
Thanks Thor, I saw EasyEquities website. But I just wish I knew what shares to buy etc...
Click to expand...
Your in luck. We are working on a how to guide for beginners with EasyEquities and Sygnia.

I'll pop you a PM when it is done.
 
If they had such a great system they wouldn't be selling it to anyone they would be using it to make themselves millions. The way they are making money here is by selling you the 'software'.
 
Shirou said:
Mind sending it to me as well :) quiet interested.
Click to expand...

Quite a lot of interest, this is the thread -> https://www.platinumwealth.co.za/forum/Thread-How-to-start-investing will keep everyone posted on progress.

It will be a step by step guide EasyE and Sygnia helped there's just a few things I am awaiting on from a registered financial advisor(s) before it gets published. To ensure the accuracy is there.
(I did not write it, I'm the facilitator so to speak.)
 
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