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Central Markets
David J Robertson
Posted: 23 November 2013 09:42:07(UTC)
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Hi all,

I would like some guidance on the following company:-

Central Markets investments of London

For I have recently contacted them and I and would like to know more about them.

So if anybody has had any dealing (current or past) I would like to know observations that could assist me.

Best regards
David R

1 user thanked David J Robertson for this post.
Phil Stilliard on 02/07/2017(UTC)
Micawber
Posted: 24 November 2013 10:19:19(UTC)
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There seem to be several outfits under the name "Central Markets". I suggest you start by identifying exactly which one e.g. by giving a web or other address. And that with any firm you are thinking of putting business with, you carry out some basic internet research into the company, its history and affiliates, directors, offices and standing via the company check websites, Google Maps, address searches etc.
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Phil Stilliard on 02/07/2017(UTC)
David J Robertson
Posted: 24 November 2013 10:32:21(UTC)
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Good morning
Many thanks for your observations and I have started carrying out some research.

Their website is www.centralmarkets-im.co.uk

I have looked at website and on Monday I will try to find their directors and company history, net worth and number of years trading, via companies house and Experian, as they are a limited company I will obtain a credit report.

But Company report will only show their trading history & not their trading style and that is what I was hoping to find out

Many thanks for your reply

Regards
David R
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Phil Stilliard on 02/07/2017(UTC)
Martin Anderson
Posted: 04 February 2017 23:27:31(UTC)
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I was phoned up by Central Markets many times over a period of 18 months until I eventually succumbed to their promises of substantial returns from CFD trading. Long story in short they persuaded me to set up an execution only account with IG and place several thousand pounds in it. They then advised on the trades and executed them with my agreement.
With a CFD you can "bet" on a share, index or other item going either up or down in a heavily leveraged fashion using stops to prevent excessive losses. They claim that their sophisticated analysis and trading methods make consistent losses unlikely. This is not true.
Out of seven 50/50 bets they got six wrong but no worries for them, win or lose they get their commission costing me nearly a quarter of my "investment" sum in just one month. Even after I told them to sling their hook, the advisory broker account they got you to set up carries on costing you stupid levels of fees until you close it and open one in your own right.
My advice would be to avoid them like the plague.
4 users thanked Martin Anderson for this post.
David J Robertson on 07/02/2017(UTC), Mickey on 07/02/2017(UTC), Tony Peterson on 11/02/2017(UTC), Phil Stilliard on 02/07/2017(UTC)
David J Robertson
Posted: 07 February 2017 14:54:37(UTC)
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Hi Martin,

Yep, that's basically happened to me, due to their constants recommendations I also lost a significant amount of money.

Central Markets made a significant amount of money (out of me) similar time span.

I have learnt by my experience.

Regards
David
2 users thanked David J Robertson for this post.
Tony Peterson on 11/02/2017(UTC), Phil Stilliard on 02/07/2017(UTC)
King Lodos
Posted: 07 February 2017 17:32:26(UTC)
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Martin Anderson;42723 wrote:
I was phoned up by Central Markets many times over a period of 18 months until I eventually succumbed to their promises of substantial returns from CFD trading.


Sorry you lost money.

But I'd always say: just hang up on cold calls. Report them if you can and get them blocked or blacklisted (there can be huge fines if firms are caught doing it today).

And never, ever take any kind of financial advice or give any personal details. No respectable business markets like that.
4 users thanked King Lodos for this post.
Tony Peterson on 11/02/2017(UTC), banjofred on 24/02/2017(UTC), Phil Stilliard on 02/07/2017(UTC), Will Morris on 15/11/2017(UTC)
Tony Peterson
Posted: 11 February 2017 19:42:11(UTC)
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David

I too, like King Lodos, am very sorry that you have lost money to a firm that I consider deals in dodgy products which benefit, principally, themselves. As do all telephone cold callers, I am also sorry to hear about Martin's losses too.

I think that we regular contributors to Citywire forums have let you both down. I did not pick up on your original query, but Micawber did give you sound advice, on your very limited disclosure.

You might have had more help if you had mentioned that cold-calls had steered you into an interest in Central Markets. KL is right. Nobody is ever going to call you with a sure-fire way to make money. If anyone knew of a guaranteed money multiplier, they would be hogging all the investment to themselves. Never believe a cold caller.

Paul Lewis on today's BBC's midday Moneybox programme highlighted another family in Luton that had lost their life savings to a telephone scammer. There is a useful Citywire thread running now on the scam by Americans claiming HMRC has taken out a lawsuit against you. There is useful information from other posters in that thread.

I am sure that KL's sympathy is genuine. He employs Cartesian doubt (a great philosophy) to imply that I myself am also economical with the truth, and does not see the irony of then posting "alternative facts" about me.

I can overlook that. I believe that the optimal course of action in investment is to build up, at appropriate times,(ie when share prices are depressed) stakes in the great global enterprises based in the UK that pay generous dividends - I employed different strategies before the credit crunch but see absolutely no reason to change tack now.

The last scam I was a victim of was Equitable Life in the 1990s. It was then the most respected pension provider in the UK. Don't trust institutions, or pooled investment, or operators on commission, to look after your interests. It is survival of the fittest out there, and the gullible go down gullets.





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King Lodos on 11/02/2017(UTC), Joe Soap on 12/02/2017(UTC), banjofred on 24/02/2017(UTC), Phil Stilliard on 02/07/2017(UTC), Will Morris on 15/11/2017(UTC)
CUEBALL
Posted: 11 February 2017 19:53:52(UTC)
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Dear David my name is Mrs Cueball ...you are amongst friends on this forum...x
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Tony Peterson on 11/02/2017(UTC)
Tony Peterson
Posted: 11 February 2017 20:34:02(UTC)
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Martin

If you are a party to a contract, there is always a counterparty on the other side.

Have you ever wondered who these might have been with the duff advice provided to you?
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Phil Stilliard on 02/07/2017(UTC)
Budd Fox
Posted: 12 February 2017 13:50:43(UTC)
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Central Markets are a regulated firm. The FCA is pretty indifferent to Cold Calling. I know as I once was hired by a firm that was FCA regulated.

At my interview I stated that anyone I spoke to had to of shown an interest in the products on offer. Once hired I was simply given a list of names to call that was simply a cold call, worse I was handed a "Script" which even confirmed it was a cold call.

When I complained an protested that I was having to call prospect cold, I was shown the door. At the time I was offered a position else were but the position by this firm matched my qualifications and experience more closely. So having given up a decent position I found myself with nothing less than working in a boiler room.

I complained was was shown the door. I made a direct complaint to the FCA about having to make cold calls, as I had done about another FCA company in the past and Nothing come of it. They did not want to know.

So here is the problem with many of these FCA regulated firms:

Most of them only want to hire young turks that make lots of calls to old clients or cold calls. The brokers have never traded the markets themselves and know very little about technical nor fundamental analysis. In fact nether types of analysis are really covered in the qualifications of being a Stock Broker. Their guess is as good at anyone who has taken the time to read say the late Jim Slaters book "The Zulu Principle". they make guess about the market and have you Johnny Punter trade on them. The know little about Martingale or Anti Martingale techniques nor risk management other than perhaps placing a stop loss order.

The results are predictable, clients lose a great deal of money. One clown of a "Stockbroker" who I know was earning GBP 120,000 p.a used to make investment decisions based on McDonald's restaurant's menu " Short Mac Donald's" Wby .... Because they have taken the Angus Burger off the menu which was popular!!! The same person had a client that placed GBP 50,0000 on account within three weeks the broker had run up GBP 30,000 in commissions. Was the FCA worried about it when they were informed.............No. Why because it was an advisory account not a discretionary one so in their book there was no Churning going on.

Once the client has lost their money so the process goe's on and the vampire must find new blood.

Some blame has to go with clients and their lack of perception of risk. The brokers skate over RISK too much for fear that the clients: May say " they want the truth but in reality they cannot handle the Truth".

Cold Calls are no more risky than the smooth advertising by an FCA firm.

I worked for firm early last year that was selling Bitcoin, ( with a mark up of course) the price was $350.00 back in January last year. Spoke with a canny fellow who told me that he had sold out of Bitcoin having brought it back when it was trading at around $120.00 a coin he sold at $350.00 having invested GBP 450,000 that was from a cold call.

Do your due diligence. Allocate your risk.

The main reason why people lose money is not the smooth talking stranger on the phone or the slick Brochure but the pure GREED that pushes people to invest far too much in a very risky investment. IMHO
3 users thanked Budd Fox for this post.
Tony Peterson on 12/02/2017(UTC), Phil Stilliard on 02/07/2017(UTC), Tim D on 15/11/2017(UTC)
Tony Peterson
Posted: 12 February 2017 14:20:33(UTC)
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Budd

Thank you very much for your post. It confirms much of what I have long suspected. And you are right too about the punters being partly to blame on account of their greed.

We do get posters on these forums who appear to be desperate to get very rich very quickly and trusting in tips provided by others. Not, in my view, a wise strategy.

From my own experience I know that it is possible to become far more financially secure that I could ever have imagined when younger., but only if you place your trust only in large, proven profitable enterprises, and do not try to force the pace.

Trusting in "experts" is a mug's game.

3 users thanked Tony Peterson for this post.
banjofred on 24/02/2017(UTC), Phil Stilliard on 02/07/2017(UTC), Tim D on 15/11/2017(UTC)
banjofred
Posted: 24 February 2017 06:22:45(UTC)
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Some good posts here. i too lost money with Central Markets,

I would recommend anyone considering CFDs to go to ladbrokes instead, its a better bet for sure, and no risk of you losing all your wealth on a margin call.

Banjo
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Phil Stilliard on 02/07/2017(UTC)
glechef
Posted: 04 November 2017 11:06:13(UTC)
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Joined: 04/11/2017(UTC)
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wish I had read this post first; just transferred £10 k to Central Markets Saxo ( now Sequant Capital) and started some CFD under advice;
was thinking of moving my SIPPs from HL and Bestinvest but better think again ??
David J Robertson
Posted: 15 November 2017 14:41:05(UTC)
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Hello Glechef,

I transferred £10k and in a short period of time, I closed the account and recovered £6.2k (eventually) that took some time.

Basically what they do is telephone you with a "fantastic opportunity" 5 days later they advise you to sell (at a lost) but the get commission.

My advice is close the account (try to get your money back) and stay with HL.

ATB
David
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Tim D on 15/11/2017(UTC)
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