'We lost everything gambling on shares'

Luz

maz ,

Stupid peoples who bought a house? this 2 were hard workinh peoples ,who just wanted to invest some money ,having already 35k in their certefic, account they called to buy another 5k on that account .This broker went on to open this account for them based on miesleading information .This peoples did tould the broker that they never heard about buying shares on line ,despite that the broker reassured them it was the same as certfi,account .Now they have never even seen an online account ,and when they used it ,they started having problems understanding this ATI ,and asked barcalys to remove the ATI as they were losing money .The broker directed them to CFDS so they would not lose that much .This couple refused CFDS as they did not understand how it worked ,but the ATI stayed as they said it could not been removed .So as they bought some shares in 2008 at the hight of the crisis and most shares were on banks ,they bought more to get out ,but the more they bought the more the broker credit their account with .So looking at huge losses , they ended up buy more to seeif a way out . Losing money many times was the broker not selling their shares ,and more panicking .when they did not had more money in 2009 the broker carried on credit their accou t as 4k would allow to buy 30 k ,and at this time this were penny shares ,that the broker could only buy but could never sell .even if they had any profits .So this was how it went .But remenber this guys had certfi,accou nt for 5 years taht altogether was only invested no more taht 3k .So why the broker decided to change them to the market master when they saw they had already bought 35kon certefi,account ? and telling them it would be the same just cheaper fees ,. And one accou nt did not even had a direct debit , so why provide 30k on an account worth 4k and no direct debit ? and there is more to it than most know .Still is easy to judge peoples from outside . This idiots saw their money going and going,on their account and panicked and , as they never dealt on line neither do they knew how markets operated , they have never lost money on the certefi,account /

Luz

And the idea of this article was to worn others what can happen when you get involved on something you do not understand .If anyone care to oook around ,there are more peoples victims of this tatic .action group had a young man of around 18 who went on to buy 15K shares from this broker without even deposit one pound on the account and his bank card only allowed him 200 pounds a month credit ,if anyone thinks this is responssible behaviour from a broker ,then i rest my case

Luz

They were lead into war zone ,,this peoples never ever gambled anything anywhere ,worked paid taxes and paid their bills .Never askec for anything from the goverment in UK .

le_loup

Wow!
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talexuser

Always good to see a well reasoned and erudite contribution! :eek:

jimjames

Luz wrote: »

They were lead into war zone ,,this peoples never ever gambled anything anywhere ,worked paid taxes and paid their bills .Never askec for anything from the goverment in UK .

Thanks for coming and letting us know how you got into that situation.

My bank has given me a credit card with a £17,000 limit. Is it their fault if I decide to spend it all?

Luz

You will have to ask you,r bank if when you get true to the 17.000 if they will treble that amount , for you to continuing going .
I do know this story and is more to it than you can guess .

Luz

You will have to ask you,r bank if they will treble you,r money when you get past the 17.000 .if they not which im sure they wont ,why do brokers want to do that ?

Prothet_of_Doom

Glen_Clark wrote: »

see link:

the shocking account of a couple who lost their life savings, in part because an online stockbroker allowed them to borrow thousands of pounds to invest in shares.

Despite never having traded in shares before, the couple were given access to thousands of pounds of borrowed cash to invest immediately in 2008.

As share prices plummeted, Mr Prinzi and Mrs Freitas panicked and tried to use the credit facility to recover their losses. They borrowed extra money, making speculative bets on shares they hoped to sell at a profit.

The words "stupid is as stupid does" springs to mind.

I have little sympathy. Where did they think the money was coming from?

Prothet_of_Doom

atush wrote: »

Remind me, on sales of over a billion how much tax did Amazon pay HMRC last year?

Well how much GLOBAL profit did they make? I understand (and I might be wrong) that their global profit margin, is in single figures, and they will have paid tax on it somewhere in the world.