SMC Futures - anyone had any experience with them?

Reaper

srixon wrote: »

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 STAY WELL CLEAR

If they actually bought you genuine investments you are fortunate. However check they really are and are not shares traded in an illiquid market where they are virtually impossible to sell. If they are beware of a follow up call where another company offers to take them off your hands for an unexpectedly good price. It's a scam too.

To understand how it works read up on it:
http://www.thisismoney.co.uk/money/investing/article-1607734/Boiler-room-scams-shares-rip-offs.html

Datacdg

I too have been taken for 5K plus the Global Data £800 (lifetime subscription)
I thought I had been careful when checking this company, I checked them on companies house etc.. but in the end I was fooled in to this.

The company is still 'Active - with a proposal to be struck off'
SMC WORLD LTD
Company No. 05286418

Is there nothing we can do to report this company and it's obvious subsidiaries to the authorities?

cjf41

I also bought this system but have been trading with some success as I just use the results as a general guideline for what to buy. However since before Christmas the Global Data website seems to have disappeared (for which I also paid £800 for lifetime subscription). Now I am faced with having to pay another company for the data I need to run the programme I paid £5000 for.

jimjames

cjf41 wrote: »

I also bought this system but have been trading with some success as I just use the results as a general guideline for what to buy. However since before Christmas the Global Data website seems to have disappeared (for which I also paid £800 for lifetime subscription). Now I am faced with having to pay another company for the data I need to run the programme I paid £5000 for.

The saying, "throwing good money after bad" comes to mind. I certainly wouldn't commit more money to paying other companies, that's probably part of their plan.

flima02

cjf41 wrote: »

I also bought this system but have been trading with some success as I just use the results as a general guideline for what to buy. However since before Christmas the Global Data website seems to have disappeared (for which I also paid £800 for lifetime subscription). Now I am faced with having to pay another company for the data I need to run the programme I paid £5000 for.

I am a little shocked to find that SMC have disappeared. Like others here I forked out £5k plus £799 for 'lifetime' subscription to the data. My experience is that the software worked pretty well if you used it daily and stuck to the recommended regime for entry and exits. My profits almost paid for the licence fee. However the software is useless without the daily feed of data. If anyone can find a suitable alternative for the daily price data the software needs then please let us all know.

cjf41

I have registered with eoddata which is based in the states and their charges for downloading daily data are very reasonable and available in many formats including csv which is what the SMC programme works with.

awl001

We also have had dealings with SMC Trading and they have definitely been around much longer than six months as stated earlier in the thread. Fortunately we were not stung for the full £5000 and did not take up their lifetime subscription to Global Data at £800 which we were sure were affiliated with them in some way (and it looks like we were right if they too have disappeared). We did notice however, that during the initial trial period with Global Data there were a lot of inaccuracies in the data which they attempted to explain away but we were not convinced.


They have applied for voluntary withdrawal from Companies House which apparently means they are ceasing to trade. An objection has been lodged and it has been suspended. I was advised to also lodge an objection when I spoke to Companies House about it as they are supposed to inform creditors when applying for voluntary withdrawal and to my knowledge they have not done this.


Our investments never came to much and we did lose money rather than make it and have been left with some duff stocks in our portfolio that may or may not come to something one day. We also came into this at a very bad time as far as the markets are concerned so it was probably doomed from the start regardless.


Not sure whether this is a scam as such but either way it does leave a bad taste.


Anyway, I am going to lodge my objection tomorrow on the very slim chance that some money can be claimed back if there is any to be had. All I have to do is email them with supportive documentation to prove my dealings with them.


Anyway, on a more positive note, I have a script that runs daily, extracts the share data from the Internet and e-mails it as an attachment. I cannot guarantee it's accuracy (it is definitely more accurate than Globals though!!) or be held accountable in any way but if anyone wants to be added to the mail list, let me know.

Reaper

awl001 wrote: »

We also have had dealings with SMC Trading and they have definitely been around much longer than six months as stated earlier in the thread.

That was stated in the thread over 2 years ago, so may have been accurate at the time.

Thanks for the update though.

flima02

Hello awl001
I would be interested in receiving your script data emails ("script that runs daily, extracts the share data from the Internet")
markflint (at) ymail dot com
Thanks

lieba2005

I also would like to recieve your scrips. Please add me on ur email samsung99@live.co.uk.

thanks