• Report: #1140452

Complaint Review: BLACKWALL CAPITAL MARKETS GROUP

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  • Submitted: Mon, April 21, 2014
  • Updated: Mon, May 12, 2014

  • Reported By: watchurbackonwallst — new york New York
BLACKWALL CAPITAL MARKETS GROUP
100 wall street new york , New York USA

BLACKWALL CAPITAL MARKETS GROUP kevin chen, http://www.blackwallcapitalinc.com/ bait and switch does not pay commissions said one thing did another new york New York

*Author of original report: Rumors have it looking to change their name

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I am a newer broker on Wall St. I was lured into this firm promising no desk fees or payback for 90 days. I was a fool to not get this in writing as I am to new in the business to know about the dirty things these firms pull. If you are nieve to any facts you will get taken advantage of. I had earned a few thousand within my first 90 days and a month later I had earned over 8 thousand in commissions. My commission was then held back for 2 months. I was squeezed out of the firm for lack of paycheck and when it came down to the legal 60 day limit of paying me what was owed. They came up with an excuse as to why I didn't deserve the 8 thousand dollars in commission. then given an expense report saying that I owed desk fees from day one of employment. They would only explain all of this in the lobby of the firm not even the decency to speak to me in person. They weaseled their way around threw out that I didnt have a contract with them so in their opinion none of what they said about their deal with me actually took place. The firm has no annalyst. This firm eats its own young. If you are looking for a fair start in Wall st. as a commission broker. this is the LAST PLACE YOU EVER WANT TO GO. THIS Firm is a chop shop. and will fail. The owner was never even a broker. So in a sense its like the inmates run the asylum there. No one produces anything significant. They cold pitch stocks. its absolutely a horrible mess in there. Heartless owners and struggling to keep the business going. I give it 5 years and they will fold. 


This report was posted on Ripoff Report on 04/21/2014 11:26 AM and is a permanent record located here: http://www.ripoffreport.com/r/BLACKWALL-CAPITAL-MARKETS-GROUP/new-york-New-York-10005/BLACKWALL-CAPITAL-MARKETS-GROUP-kevin-chen-httpwwwblackwallcapitalinccom-bait-and-1140452. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Author of original report

Rumors have it looking to change their name

AUTHOR: watchurbackonwallst - ()

According to inside sources, basically ex co workers I keep in touch with. They are looking to change their name due to all the bad publicity they're getting from Bloomburg. ADVICE: If you are new to the business and any firm that is looking to charge you a draw or tell you to take out a loan with them. DO NOT TAKE THE POSITION. THEY will say its the fastest way to get independent. TRUTH IS you need the training and you need a paycheck. ONLY CONSIDER FIRMS that pay for everything and don't ask for it back. DONT OPEN MORE THAN 20 ACCOUNTS for senior brokers as a beginner. WHEN YOU have a book of business that is when the commission only firms are considerable. 

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