SMC Futures - anyone had any experience with them?

dredwing
dredwing Posts: 17 Forumite
in Savings & investments
Hello,

I've been contacted by a group called SMC Futures, basically an investment management outfit from what I can tell. They offer what looks like an interesting service though almost too good to be true (which means it probably isn't true :)).

Before I speak to them directly has anyone on the forums had any experience with them or even know much about them? There doesn't seem to be much on the internet (another less than encouraging sign).

Thanks in advance.
Dred.
«13

Comments

  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Name Dropper First Post First Anniversary
    If they've cold called you I'd avoid. However good the deal seems.
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • Reaper
    Reaper Posts: 7,280 Forumite
    Name Dropper First Anniversary First Post Photogenic
    Masomnia wrote: »
    If they've cold called you I'd avoid. However good the deal seems.
    That's all you really need to know. However if you want to go further a search of the FSA register fails to find an authorised company by that name.
    http://www.fsa.gov.uk/register/firmSearchForm.do
  • dunstonh
    dunstonh Posts: 116,363 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    I've been contacted by a group called SMC Futures

    That is your first warning bell. Genuine regulated investment firms/advisers do not cold call.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • dredwing
    dredwing Posts: 17 Forumite
    Thanks folks, you're confirming what I suspected about them.

    The cold call was really the give away wasn't it.
  • PlutoinCapricorn
    PlutoinCapricorn Posts: 4,598 Forumite
    First Anniversary Combo Breaker
    Yes, the wise ones on here always advise people to ignore cold callers of any kind. Really good investments attract the professional investors so there is no need to approach the general public in this way.
    Who having known the diamond will concern himself with glass?

    Rudyard Kipling


  • SCoomby
    SCoomby Posts: 5 Forumite
    edited 6 November 2014 at 4:50PM
    dredwing wrote: »
    Hello,

    I've been contacted by a group called SMC Futures, basically an investment management outfit from what I can tell. They offer what looks like an interesting service though almost too good to be true (which means it probably isn't true :)).

    Before I speak to them directly has anyone on the forums had any experience with them or even know much about them? There doesn't seem to be much on the internet (another less than encouraging sign).

    Thanks in advance.
    Dred.


    There appears to be no company called SMC Futures according to Companies House. However, I was approached by a company called SMC Trading (SMC World) a couple of days ago who offers Trading Software called SMC Wealth 500 System. They claim that this software can achieve 2-fold or 3-fold return on your investments per year using the stock market.

    Avoid this company at all costs. They claim to have been running for 10 years and that they have an office in London (a virtual office it seems!). Companies House reveals the truth about this company. It's actually only been running for 6 months and was dormant prior to this. It's also linked to 29 Harley Street, London, W1G 9QR (there are 2,600 companies registered at this address!!!!).

    Using google reveals a positive trail of reviews and awards for this outfit and their software. One of the sites is called Global Trading Commission. It's fake like many of the others that I found.

    The scammers are coming up with even more clever ways of getting money out of us (virtual offices, fake websites, online demonstrations, etc.). These scammers are also setting up a string of companies that can be used years later for scamming purposes. This is so they can claim the business has been long established and this will make them appear more trustworthy. The best advice to anyone is that if it sounds too good to be true, then it usually is and always be wary of cold callers offering fantastic deals.

    SCoomby
  • Narno2
    Narno2 Posts: 1 Newbie
    Unfortunately, I was taken in by this. It is a scam - do not proceed with it.

    I've written a blog about my experience

    smc500.wordpress.com
  • EdGasket
    EdGasket Posts: 3,503 Forumite
    Narno2 wrote: »
    Unfortunately, I was taken in by this. It is a scam - do not proceed with it.

    I've written a blog about my experience

    smc500.wordpress.com

    I can't read it, it requires a login.
  • jazinger
    jazinger Posts: 1 Newbie
    Do not touch this with a barge pole. Sadly I was taken in by them to the tune of £5k and now they won't return calls or emails. If it sounds too good to be true then it probably is.
  • srixon
    srixon Posts: 1 Newbie
    Do not touch this company, I have been scammed by them to the tune of £4500 plus £800 to global data, all emails returned by the postmaster and the phoneline now non existent , the investments they recommended are down by 29%, my grandson could have chose better.
    If I could get my hands on them I would rag them to within an inch of there lives.
    STAY WELL CLEAR
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