- Report: #968339
Report - Rebuttal - Arbitrate
Complaint Review: LTG GOLD ROCK
LTG GOLD ROCK84 Wises rd, Internet United States of America
LTG GOLD ROCK .they are clear facts about their scam's and they still continue the Complet deception of posting false results and projection of making profit per trading day .Also giving false statements .. on their web site and misleading people like they maiking money, Internet
*Author of original report: 39 currently registered domains and 323 previously registered domains
*Author of original report: LTG results reports which in most cases were cooked !
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Please go to this link (((link redacted))) . And read about this company , .they are clear facts about their scam's and they still continue the Complet deception of posting false results and projection of making profit per trading day .Also giving false statements .. on their web site and misleading people like they maiking money
I have read loads of stories on Andrew Barnett. He was involved with TI - Traders International now it is called Goldrock.. below is one of the many quotes I have found on him. He is just a sales man making as much money as possible out of innocent people who believe in him.. There is always a catch trust me Andrew Barnett is not offering anything for free, he is hoping you will sign up and part with several thousand dollars at the time. [continued below]....
Andrew Barnett has no knowledge of trading he is a salesman and the nearest thing to a con man that I have witnessed in my life. Jimmy Polydoris programmed a signal for T.I called the JTI, it was an unmitigated disaster.
Do you really think these men know anything that you'd want to learn?
The directors at LTG GoldRock have indeed had a long association with Halifax, going way back to when they were running Traders International (TI). One would need to look no farther than the partner tab of Halifax's website http://www.halifax.com.au/gp/partnerprogram.asp to see why LTG likely chose them. The following statement leaps out of the page:
'we provide the highest introducing broker clearing rebates than any other provider in Australia'
In simple terms, they claim to provide the greatest kickbacks to introducing companies like LTG on their client's brokerage. For every dollar in brokerage you pay, LTG receives a cut of up to 30%. This extra money has to come from somewhere, and you'll probably find it comes from paying higher brokerage or spread than you can find elsewhere.
As stated, the LTG directors have been dealing with Halifax for many years. Prior to Halifax establishing its own clearing arrangements for futures markets in April 2009, TI used Halifax as an intermediary for the transfer of monies to U.S. based brokerages. When the LTG directors were running TI, they recommended clients use Chicago based Alaron as their broker, and clients funded their accounts via Halifax.
At some point Alaron outsourced its clearing arrangements to Preregrine Financial Group. You can read what happened at PFG here or elsewhere http://en.wikipedia.org/wiki/Peregrine_Financial_Group. In summary, the chief executive embezzled its clients funds. Had you followed the recommendation of TI at the time it was run by Andrew Barnett and Peter Elsworth and started up an account with Alaron via Halifax, then in July of this year your account would have been frozen and you'd have lost most or all of your funds.
The other broker that LTG GoldRock has recommend their clients use is Gain Capital. It is now common knowledge that In October 2010, Gain Capital was fined by the National Futures Association for allegedly engaging in margin, liquidation and price slippage practices that benefited Gain to the detriment of its customers. They were fined $459,000 for that offence.
So when LTG GoldRock talk about how great their brokers are, I can't help but think about what's written above.
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
This report was posted on Ripoff Report on 11/12/2012 09:52 PM and is a permanent record located here: http://www.ripoffreport.com/r/LTG-GOLD-ROCK/internet/LTG-GOLD-ROCK-they-are-clear-facts-about-their-scams-and-they-still-continue-the-Complet-968339. 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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