I too am a victim of these guys. On Feb 6 2014 Jay at 323-806-7437 called me promoting some story stock, and told me about how they have gotten in on stocks in the past before they explode, they don’t trade my money so they aren’t brokers, they want to build a relationship, and like the guy above said, they only get paid with shares when the stock reaches some higher price and institutions take big positions. Be careful, once they get their foot in the door and get you to agree to tell them personal information about yourself and your account, like your broker, and your account size, it’s easier for them to get you to agree to other things. Through blue-sky talk about how the story stock wouldn’t go any lower (AZRH) than it had gone, and was on it’s way up to making a 30% gain by the end of the day, they talked me into buying shares. I didn’t want to buy as many shares as they recommended, saying I don’t want to invest my whole account, but they convinced me to go in at a number of shares just shy of that. I put in an order and got filled as they were on the line with their market maker, but then they got mad at me that they didn’t fill my order with their shares because I didn’t put my limit in above the market price. That’s when I became suspicious. We argued because they were pissed off and hung up angry. Why would they want to sell me their shares? It was contrary to the story I heard minutes before. Days later I lost everything in the trade. It dropped from $1.19 per share. A month later it’s at pennies. I can’t believe I fell into their trap. I don’t know what to say except it’s totally contrary to my way of investing. I did not have a stop loss at such low prices with large price bars and they didn’t recommend one. I’m also not into buy and hold through drawdowns. I think their sole purpose for existing is to swoop in on little guys like me, and personally decimate our accounts.
Los Angeles, California USA