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  • FIRST POST
    • daddy_bro
    • By daddy_bro 1st Sep 16, 11:52 PM
    • 5Posts
    • 0Thanks
    daddy_bro
    Anybody heard of CWL
    • #1
    • 1st Sep 16, 11:52 PM
    Anybody heard of CWL 1st Sep 16 at 11:52 PM
    I've had a couple of phone calls from a company called CWL offering a system for buying and selling shares. They make wild promises about making 10% per month. I've searched everywhere on line but cannot find anyone with a bad word to say about them but then again there is very little out there apart from some press releases and a tiny number of forum treads.
    Has anyone heard of them, good or bad?

    Sorry for making this my first post in ten years membership, been very busy.
Page 2
    • runwaychris
    • By runwaychris 17th Sep 16, 4:45 PM
    • 7 Posts
    • 0 Thanks
    runwaychris
    I have looked at the press releases and they seem to be written by CWL "National Ops Manager" John Matthews or Peter Matthews depending on which one you read. Either way hardly independant.
    • blossomhill1
    • By blossomhill1 17th Sep 16, 6:52 PM
    • 15 Posts
    • 4 Thanks
    blossomhill1
    Chris, quick question - when you're waiting to buy at the bottom of an up-slope, how do you know an up-slope is coming and that it's not a down-slope? Equally, how do you know when to sell (top of slope) and that you're not at the bottom of a slope that's just about to rise? Isn't this what all traders are busy trying to figure out all day, every day?
    • DesG
    • By DesG 18th Sep 16, 11:25 AM
    • 1,219 Posts
    • 425 Thanks
    DesG
    Chris, quick question - when you're waiting to buy at the bottom of an up-slope, how do you know an up-slope is coming and that it's not a down-slope? Equally, how do you know when to sell (top of slope) and that you're not at the bottom of a slope that's just about to rise?
    Originally posted by blossomhill1
    The magic software tells them

    There are just so many gullible idiots out there that fall for these obvious scams.
    • AnotherJoe
    • By AnotherJoe 18th Sep 16, 11:35 AM
    • 4,122 Posts
    • 4,151 Thanks
    AnotherJoe
    What else should I be doing to complete due diligence of this product?
    Originally posted by runwaychris
    Brain scan, could be a tumour pressing against the part of the brain that maintains basic intelligence perhaps? Get checked out first thing.
    • runwaychris
    • By runwaychris 19th Sep 16, 4:50 PM
    • 7 Posts
    • 0 Thanks
    runwaychris
    According to their spokesperson they are able to better predict rises and falls using data collected over ten years. So how about me asking for the software free of charge? After 2 years of trading with an investment of 2k they "guarantee " I will have 30k profit. So then I will pay them for the software from my profits.??? Rather than paying upfront....Risk to me is 2k which I hold in a trading account and is liquid. Risk to them is greater if I don't make the profits they suggest......
    • dunstonh
    • By dunstonh 19th Sep 16, 5:47 PM
    • 85,089 Posts
    • 50,111 Thanks
    dunstonh
    According to their spokesperson they are able to better predict rises and falls using data collected over ten years.
    10 years in which highly unusual events occurred and you would need to go back 80 years to find similarities. Data goes back much further and is available to all.

    So how about me asking for the software free of charge? After 2 years of trading with an investment of 2k they "guarantee " I will have 30k profit.
    They make money selling mugs the software.

    I will have 30k profit. So then I will pay them for the software from my profits.??
    You wont have 30k profit. So, you can forget that idea.

    Give it up.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • bigadaj
    • By bigadaj 19th Sep 16, 6:38 PM
    • 7,798 Posts
    • 4,749 Thanks
    bigadaj
    According to their spokesperson they are able to better predict rises and falls using data collected over ten years. So how about me asking for the software free of charge? After 2 years of trading with an investment of 2k they "guarantee " I will have 30k profit. So then I will pay them for the software from my profits.??? Rather than paying upfront....Risk to me is 2k which I hold in a trading account and is liquid. Risk to them is greater if I don't make the profits they suggest......
    Originally posted by runwaychris
    Let us know how you get on.
    • Malthusian
    • By Malthusian 20th Sep 16, 11:29 AM
    • 1,167 Posts
    • 1,539 Thanks
    Malthusian
    According to their spokesperson they are able to better predict rises and falls using data collected over ten years. So how about me asking for the software free of charge? After 2 years of trading with an investment of 2k they "guarantee " I will have 30k profit. So then I will pay them for the software from my profits.??? Rather than paying upfront....Risk to me is 2k which I hold in a trading account and is liquid. Risk to them is greater if I don't make the profits they suggest......
    Originally posted by runwaychris
    You should definitely ask CWL why they don't offer to give you the software in exchange for, say, 10% of all your profits. This would be much more profitable for them because they'd have £3,000 after two years rather than £2,000 and an income stream which would continue for life. And you'd be happy because you'd still have £25,000 of free money.

    The OP may well be consulting other forums such as this thread which is one of the first that appears on Google for "CWL trading" along with a similar thread on an apparently different forum. It seems to be full of helpful people who appear far less cynical than we about CWL's software. However, it is interesting to note that even though the various helpful members all have postcounts in the hundreds or thousands, when you do a search for "site: onlinemoneytalks.com" plus their username, only that one single thread appears, despite the fact that they supposedly have thousands of other posts on the site.

    There are plenty of other forums on both sites although it takes a bit of effort to find them as many links either send you to a sign up page or are bizarrely misdirected to "javascript://". However, another Google search reveals that every single other thread on those sites which isn't about CWL trading software has been lifted from our own MoneySavingExpert forums, but with the posters' names changed.

    So in summary, you are considering buying software from people whose threads appear on fake forums which have been set up by stealing threads from MoneySavingExpert wholesale, with an added thread full of non-existent fake posters saying how great CWL is, apparently to con anyone who is Googling CWL trading software into thinking that other people are using it successfully. Good luck.
    • eskbanker
    • By eskbanker 20th Sep 16, 11:36 AM
    • 3,620 Posts
    • 3,238 Thanks
    eskbanker
    fake forums which have been set up by stealing threads from MoneySavingExpert wholesale
    Originally posted by Malthusian
    Good spot! They haven't exactly gone to great lengths to conceal this either, http://onlinemoneytalks.com/showthread.php?3171-MSE-Eligibility-Checker-Credit-Cards starts with
    I have been following MSE forum postings for a couple of years but have never really had much to contribute, but I have a little something now so felt now is the time to give some feedback / information in my experience
    • bigadaj
    • By bigadaj 20th Sep 16, 6:33 PM
    • 7,798 Posts
    • 4,749 Thanks
    bigadaj
    It's interesting that they dint guve the software away and then ask for a percentage of the profits.

    It may not generate as much money but would be more legitimate and potentially generate better press, as most people who bothered to review or report would be those that actually made money.

    Just a variation on the tipsters in classified ads who just asked for a percentage of the winnings on the horses, a small number will be winners and not all will pay up, but with sufficient numbers it can still be a good earner. Even more the case if the software had two versions, one going long and one short, meaning that there would be 50% winners at any one point in time.
    • Malthusian
    • By Malthusian 21st Sep 16, 9:31 AM
    • 1,167 Posts
    • 1,539 Thanks
    Malthusian
    Even more the case if the software had two versions, one going long and one short, meaning that there would be 50% winners at any one point in time.
    Originally posted by bigadaj
    While digging into these scams I found suggestions that some of these tipsters (they now seem to be called "signal providers") are doing exactly that, telling half of their marks to buy a given option and the other half to sell.

    That way with each tip on a binary option you are guaranteed 50% happy customers and 50%... well, unhappy customers is the wrong word. Some of them will be unhappy but others will easily be gulled by assurances that it was bad luck or beyond the tipster's control, and if they deposit more money they'll recover their losses. Gotta spend money to make money brah. (Remember, these people aren't very bright.) And there's every chance that on your next tip they'll be in the right 50%.

    The traditional approach of pulling a tip out of your backside and sending it to 100% of your marks carries some risk that your first three tips all go against you and the punters desert you before you've got going. But hedging your bets in this way pretty much guarantees that the racket can run and run - until the marks have all run out of money.
    • runwaychris
    • By runwaychris 14th Oct 16, 9:37 PM
    • 7 Posts
    • 0 Thanks
    runwaychris
    Thank you all for your insight - very interesting, especially regarding scam forum posts. After declining to proceed a couple of weeks ago they have now been back in touch with an improved offer. £100 credit card deposit followed by £2895 transfer. All money back if not in profit after 6 months.....
    • DesG
    • By DesG 14th Oct 16, 11:38 PM
    • 1,219 Posts
    • 425 Thanks
    DesG
    Thank you all for your insight - very interesting, especially regarding scam forum posts. After declining to proceed a couple of weeks ago they have now been back in touch with an improved offer. £100 credit card deposit followed by £2895 transfer. All money back if not in profit after 6 months.....
    Originally posted by runwaychris

    Hahahaha


    You really are trying to prove that there is one born every minute!
    • moneyfoolish
    • By moneyfoolish 15th Oct 16, 3:29 PM
    • 353 Posts
    • 235 Thanks
    moneyfoolish
    Hahahaha


    You really are trying to prove that there is one born every minute!
    Originally posted by DesG
    Sounds more like a desperate salesman for the company to me!
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