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  • FIRST POST
    • globularity
    • By globularity 17th Apr 17, 3:24 PM
    • 19Posts
    • 0Thanks
    globularity
    Hedgestone Group, I think its a scam
    • #1
    • 17th Apr 17, 3:24 PM
    Hedgestone Group, I think its a scam 17th Apr 17 at 3:24 PM
    Hi, my mum responded to a facebook advert for hedgestone group which says its a forex trading site. They were happy to take £200 from her account using the long number on her card. Then when we tried to access the account they wanted us to verify our identity. They requested coulour copys of her passport and copies of her credit card front and back and a bill, they said this was to prevent money laundering. If that was true then why take the money first. Mum decided to empty her account so they couldnt take the money because she became suspicios(she tranfered it to my account). I put the money back because I was worried the bank will still pay them then charge her for being overdrawn. We have contacted our banks fraud team and cancelled the card so they cant take any more money. They said we should be able to get the money back. Just thought Id post this to warn people
Page 1
    • masonic
    • By masonic 17th Apr 17, 3:29 PM
    • 9,125 Posts
    • 6,274 Thanks
    masonic
    • #2
    • 17th Apr 17, 3:29 PM
    • #2
    • 17th Apr 17, 3:29 PM
    To be honest, it's standard practice for legitimate sites to request exactly this information when processing a first withdrawal. Maybe that particular site is a scam, maybe it isn't. Forex trading sites will tend to relieve you of your money either way.
    • grumbler
    • By grumbler 17th Apr 17, 3:46 PM
    • 51,388 Posts
    • 21,762 Thanks
    grumbler
    • #3
    • 17th Apr 17, 3:46 PM
    • #3
    • 17th Apr 17, 3:46 PM
    To be honest, it's standard practice for legitimate sites to request exactly this information when processing a first withdrawal.
    Originally posted by masonic
    It makes far more sense to do this when the account is being opened, not to wait until a withdrawal. That's what I'd expect from most legitimate companies.
    ...They were happy to take £200 from her account using the long number on her card.
    Originally posted by globularity
    What's wrong with this if she authorised them to do this?
    Mum decided to empty her account so they couldnt take the money because she became suspicios(she tranfered it to my account). I put the money back because I was worried the bank will still pay them then charge her for being overdrawn.
    Absolutely. And she can't be held responsible for unauthorised transaction.
    They said we should be able to get the money back.
    Not the original £200, I think.
    Last edited by grumbler; 17-04-2017 at 3:53 PM.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • TCA
    • By TCA 17th Apr 17, 3:49 PM
    • 1,315 Posts
    • 756 Thanks
    TCA
    • #4
    • 17th Apr 17, 3:49 PM
    • #4
    • 17th Apr 17, 3:49 PM
    http://m.ripoffreport.com/reports/hedgestone-group/internet/hedgestone-group-binary-options-trading-scam-internet-1345949

    https://www.complaintsboard.com/complaints/hedgestone-group-investment-scam-c851004.html

    https://answers.yahoo.com/question/index?qid=20160712122655AAvgtTV

    http://brokerscamalert.com/hedgestone-group-review/
    • masonic
    • By masonic 17th Apr 17, 3:50 PM
    • 9,125 Posts
    • 6,274 Thanks
    masonic
    • #5
    • 17th Apr 17, 3:50 PM
    • #5
    • 17th Apr 17, 3:50 PM
    It makes far more sense to do this when the account is being opened, not to wait until a withdrawal. That's what I'd expect from most legitimate companies.
    Originally posted by grumbler
    My experience (gained in my matched betting days) is that they all wait until a withdrawal. I guess they don't want to put off new customers.
    • grumbler
    • By grumbler 17th Apr 17, 4:00 PM
    • 51,388 Posts
    • 21,762 Thanks
    grumbler
    • #6
    • 17th Apr 17, 4:00 PM
    • #6
    • 17th Apr 17, 4:00 PM
    My experience (gained in my matched betting days) is that they all wait until a withdrawal. I guess they don't want to put off new customers.
    Originally posted by masonic
    That's why the majority of bookies are rather the most unscrupulous businesses than the most legitimate by my standards. They are happy to win any dirty money from any criminals and suddenly remember about their AML/KYC obligations only when they lose.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • masonic
    • By masonic 17th Apr 17, 4:19 PM
    • 9,125 Posts
    • 6,274 Thanks
    masonic
    • #7
    • 17th Apr 17, 4:19 PM
    • #7
    • 17th Apr 17, 4:19 PM
    That's why the majority of bookies are rather the most unscrupulous businesses than the most legitimate by my standards. They are happy to win any dirty money from any criminals and suddenly remember about their AML/KYC obligations only when they lose.
    Originally posted by grumbler
    Yes, I see the point you were trying to make now.
    • Gambler101
    • By Gambler101 17th Apr 17, 11:49 PM
    • 528 Posts
    • 1,292 Thanks
    Gambler101
    • #8
    • 17th Apr 17, 11:49 PM
    • #8
    • 17th Apr 17, 11:49 PM
    That's why the majority of bookies are rather the most unscrupulous businesses than the most legitimate by my standards. They are happy to win any dirty money from any criminals and suddenly remember about their AML/KYC obligations only when they lose.
    Originally posted by grumbler
    Absolute rubbish, even criminals want to win. Bookies need to verify people before they can withdraw (Thanks to UK anti money laundering laws), this takes time and is not practical when players sign up and bet. (and signing up involves agreeing to provide ID etc before a withdrawal)
    The instructions on the box said 'Requires Windows 7 or better'. So I installed LINUX
    • Malthusian
    • By Malthusian 18th Apr 17, 11:23 AM
    • 3,316 Posts
    • 5,057 Thanks
    Malthusian
    • #9
    • 18th Apr 17, 11:23 AM
    • #9
    • 18th Apr 17, 11:23 AM
    Absolute rubbish, even criminals want to win. Bookies need to verify people before they can withdraw (Thanks to UK anti money laundering laws), this takes time and is not practical when players sign up and bet. (and signing up involves agreeing to provide ID etc before a withdrawal)
    Originally posted by Gambler101
    Of course it's practical to conduct AML before opening an account, it would just be less profitable.

    But you are right that it is not a major concern if a criminal signs up to a gambling site with dirty money and loses it. If they lose it they probably aren't a criminal. Criminals don't bet dirty money on Rooney to be first goalscorer, they bet £50 of dirty money on red and £50 of dirty money on black, and withdraw £97.30 of clean money.
    • grumbler
    • By grumbler 18th Apr 17, 5:37 PM
    • 51,388 Posts
    • 21,762 Thanks
    grumbler
    Absolute rubbish, even criminals want to win.
    Originally posted by Gambler101
    Gamblers, not criminals that want to launder dirty money in the first place. And bookies are known to be one of the ways of doing this.
    Bookies need to verify people before they can withdraw (Thanks to UK anti money laundering laws),
    Well, I said many times that there was a lot of stupidity in AML regulations, and if they really say specifically this, then it's just another confirmation.
    this takes time and is not practical when players sign up and bet. (and signing up involves agreeing to provide ID etc before a withdrawal)
    Surely AML regulations care about gamblers' convenience and bookmaking practicalities in the first place.
    If they lose it they probably aren't a criminal.
    Originally posted by Malthusian
    Some bets win, some lose. On average the loss is very small, ~5-10% if you don't want to put any effort into making it close to zero. For small number of bets risks can be excluded at small extra cost (matched betting). Also, does "chip dumping" say anything to you? ETA: I , see you know what I am talking about (black+red)
    Last edited by grumbler; 18-04-2017 at 5:59 PM.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • Julian Trader
    • By Julian Trader 23rd Apr 17, 9:08 AM
    • 3 Posts
    • 1 Thanks
    Julian Trader
    Globularity, all the forex and binary sites work like that, it's not a specialty of this broker. Have you tried to contact the customer service before panicking?

    TCA, most of the websites you mentioned make money writing good reviews about forex/binary sites which pay them and writing bad reviews about their competitors. These websites just proof that hedgestone didn't want to enter this game and pay them to be promoted - which is good. For instance, this brokerscamalert.com is so "honest", so "honest", that they don't even inform their email publicly nor any other contact info. They only write good reviews for the brokers who are paying them the most. I trade for a long time and I don't trust any of brokerscamalert reviews. The other websites also make money with complaints, whether they are real or fake. But at least seem more honest than this "brokerscamalert".

    Anyway, there are other brokers out there and your mother has the option to stop trading as well if she doesn't trust it. Good luck to your mom.
    • Pincher
    • By Pincher 23rd Apr 17, 6:54 PM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    Join Date 23rd April 2017

    Donald Trump has just joined us.

    Anything that is negative is fake news, fabricated to discredit me.
    • Julian Trader
    • By Julian Trader 24th Apr 17, 9:16 AM
    • 3 Posts
    • 1 Thanks
    Julian Trader
    Do you think that the webmaster of brokerscamalert is honest? Why is "Anna" hiding her IP?
    Last edited by Julian Trader; 24-04-2017 at 9:19 AM. Reason: spelling mistake
    • Malthusian
    • By Malthusian 24th Apr 17, 10:03 AM
    • 3,316 Posts
    • 5,057 Thanks
    Malthusian
    Brokerscamalert is clearly a highly dubious source of information as as they do give glowing reviews to some binary options scams, where the punters are just as likely to lose their money as the binary options scams they give bad reviews to.

    As you say these websites are a dime a dozen, set up to ensnare mugs who are Googling "is binarybonanza.com a scam" with websites saying "is binarybonanza.com a scam, yes it is, you should give your money to forexmoneytree.net instead which totally isn't a scam".

    That doesn't change the fact that all binary options and forex trading sites are equally dangerous and you will lose your shirt on all of them, regardless of whether they steal your money openly or are clever enough to dupe you into handing it over.
    • Julian Trader
    • By Julian Trader 25th Apr 17, 10:25 AM
    • 3 Posts
    • 1 Thanks
    Julian Trader
    I agree that there are a lot of dishonest brokers out there, but I believe that there a few honest ones as well. Otherwise people wouldn't continue depositing to these brokers. It's also not recommended to believe in what these affiliate sites write, i think the best thing to do is to invest slowly until you feel confident about the broker. Sometimes it's also a failure of the trader, most of them don't have a clue about what they are doing so it's easier to blame the platform or the company itself. Every story has at least two sides...
    • AnotherJoe
    • By AnotherJoe 25th Apr 17, 10:30 AM
    • 7,600 Posts
    • 8,201 Thanks
    AnotherJoe
    I agree that there are a lot of dishonest brokers out there, but I believe that there a few honest ones as well. Otherwise people wouldn't continue depositing to these brokers. It's also not recommended to believe in what these affiliate sites write, i think the best thing to do is to invest slowly until you feel confident about the broker. Sometimes it's also a failure of the trader, most of them don't have a clue about what they are doing so it's easier to blame the platform or the company itself. Every story has at least two sides...
    Originally posted by Julian Trader
    There's the problem with your logic.

    There are plenty of mugs who will continue throwing good money after bad.
    Of course, pretty much none of them have a clue what they are doing or they wouldn't be doing it, but some will have even less clue than that.
    • Malthusian
    • By Malthusian 25th Apr 17, 2:26 PM
    • 3,316 Posts
    • 5,057 Thanks
    Malthusian
    Sometimes it's also a failure of the trader, most of them don't have a clue about what they are doing so it's easier to blame the platform or the company itself.
    Originally posted by Julian Trader
    None of them have a clue what they're doing. To invert George Dubya's famous saying, if you fool one person, it could be because they're an idiot. If you fool a hundred people, it's because you're a crook.

    Every story has at least two sides...
    As the great E-40 said, every story has three sides, mine yours and the truth. The truth is that everyone who tries to get rich quick by gambling loses their shirt.
    • Pincher
    • By Pincher 27th Apr 17, 11:47 AM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    The truth is that everyone who tries to get rich quick by gambling loses their shirt.
    Originally posted by Malthusian
    That's because they are gambling with their own money.

    When they ring up, ask for a job.

    The house always wins.
    • jennyjj
    • By jennyjj 20th Sep 17, 2:10 PM
    • 218 Posts
    • 338 Thanks
    jennyjj
    I lost a huge sum of money binary option trading, and was able to have my funds recovered, thanks to a recovery expert. I am glad to share my experience with the company, and the means I used to have my funds recovered. you can reach me at [scammer's address redacted]
    Originally posted by merylgarner
    Bearing in mind, of course, that many, if not most, such recovery companies are themselves scammers, who don't think twice about posting fake rave reviews to forums.
    Last edited by jennyjj; 20-09-2017 at 2:39 PM.
    • Malthusian
    • By Malthusian 20th Sep 17, 2:11 PM
    • 3,316 Posts
    • 5,057 Thanks
    Malthusian
    I lost a huge sum of money binary option trading, and was able to have my funds recovered, thanks to a recovery expert. I am glad to share my experience with the company, and the means I used to have my funds recovered. you can reach me at merylgarner <rest of spammer's email redacted>
    Originally posted by merylgarner
    Obvious scammer spam reported.
    Last edited by Malthusian; 21-09-2017 at 9:25 AM.
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