It's been twelve years since I last posted about a scam. Well, we have been hit. It was almost a one, two, three punch. First, our bank contacted us because my wife's credit card number was used in Chicago, hours away from home.
Then, no sooner than she had the new card, she finally fell to the "This is your last chance to have your credit card rate lowered. So when they started asking her for her credit card information, she complied.
After the call, she contacted me. I told her to phone the bank at the number on the rear of her card, and for the second time i two months, she was issued a new number.
The next problem was mine. It was late at night, and I was sleepless, so I listened to an informative video presentation about a binary trading firm called Centument Ltd. I got my user name and password, but I wanted to wait until morning to check it out.
No sooner than I put my phone up, this lady Emma calls from One Two Trade to set up my brokerage account. She's asking for my credit card number, and I'm refusing. Finally, I hang up. She calls back again, but I don't answer.
Here's how this last one is a scam: The company is legitimate, at least on the surface. But how this software works is to lead you to make continuous trades, even if the gains are not enough to cover the cost of making the trade.So eventually, your initial $250 in the brokerage account, even if they do give you some free "money" at the start to work with, gets used up. Sure, it's your money, what's left of it
The company thrives on the trades being made. Whether, you make money or lose money, the company charges a fee on every transaction.
Any time you put your money into the hands of someone else to manage, there is always the possibility of a fraud or a scam to be carried out. Sometimes when mutual funds perform poorly, it could be traced to someone trading to earn fees, even if the trades are not wise.
So many are paid on performance, where the performance metric has little to do with beneftting the client, and everything with benefiting the investors.
(Hint: there may be a judgment day coming for greedy corporate behaviour. So if you have questions about what you are doing on your job, think twice and act in a righteous fashion, even if it means losing your job.
