We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

HSL market system is a scam

Options
MysteryMan
MysteryMan Posts: 68 Forumite
First Anniversary Name Dropper First Post Combo Breaker
edited 26 October 2017 at 2:19PM in Praise, vent & warnings
Not sure if this is the right place to ask this question, but, here goes.....

Has anybody got any experience/views of the HSL Smart Market System? It is a set of software tools for trading shares on stock market.

Any views would be appreciated and, in particular, if anyone has any idea of how much the system costs to buy into and what is the minimum sort of investments you need to make it worthwhile.

Yes, I could call them, but, would be helpful to know this without having a hard-sell salesman on the other end of phone!

:D
«13456718

Comments

  • Browntoa
    Browntoa Posts: 49,387 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Options
    Why pay a 3rd party to deal in shares anyway ?
    Ex forum ambassador

    Long term forum member
  • MysteryMan
    Options
    Browntoa wrote: »
    Why pay a 3rd party to deal in shares anyway ?

    Because the 3rd party is doing a lot of analysis, etc. to indicate which shares to buy!
  • Stevengate
    Options
    Spoke with them today. Was reported that they charge £9900 but during the month of October it is half of this. They still expect the same amount and will charge you the rest of the amount when you have made £30k in profit, which they guarantee you will make in the first 2 years (if you don't, you do not have to pay the rest of the sum).

    Sound to good to be true?
  • MysteryMan
    Options
    Stevengate wrote: »
    Spoke with them today. Was reported that they charge £9900 but during the month of October it is half of this. They still expect the same amount and will charge you the rest of the amount when you have made £30k in profit, which they guarantee you will make in the first 2 years (if you don't, you do not have to pay the rest of the sum).

    Sound to good to be true?

    Yes, those are our thoughts!

    Has anybody any experience of the product or company?
  • Flat_Top
    Options
    I have been looking into this also today after being contacted,it does seem to be a winner but like you I have the nagging doubt of its too good to be true,,,,,as the saying goes "if it sounds too good to be true it probably is"....
    I have not come across a negative review as yet though, how is your research into this going?
    I am very tempted
  • Browntoa
    Browntoa Posts: 49,387 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Options
    So thread is bumped by two newbies who seem to think it's ok .....

    Mmmmmmmm
    Ex forum ambassador

    Long term forum member
  • Browntoa
    Browntoa Posts: 49,387 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Options
    And a quick search on the company name throws up loads of free ads posts "promoting" the system . Always a bad sign

    Either a MLM element or poorly managed affiliate scheme.

    I do wonder why a legitimate business would be promoted that way
    Ex forum ambassador

    Long term forum member
  • Browntoa
    Browntoa Posts: 49,387 Forumite
    Name Dropper Photogenic First Post First Anniversary
    edited 27 October 2017 at 8:04AM
    Options
    Also , for a large "legitimate" business , why is there no phone number on their web site , only a web form ?

    And no contact address , despite some of the promotional posts elsewhere claims they are based in Canary wharf ?

    Domain name has vague ownership , seems to be registered to Sedo who are domain resellers, rather than an established company , which is what you would expect
    Ex forum ambassador

    Long term forum member
  • Stevengate
    Options
    Hi Browntoa,

    Thanks for your input on this.

    I have done some further digging on this. They "claim" that their headquarters is based in Hong Kong (where the company was founded) and that this is just an UK branch of the company. They gave me the company name of Highway Software Ltd, company number of 0514 1284.

    Still a lot of red flags for me.
  • Browntoa
    Browntoa Posts: 49,387 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Options
    So no FCA registration , outside of reach of UK authority , barge pole comes to mind
    Ex forum ambassador

    Long term forum member
Meet your Ambassadors

Categories

  • All Categories
  • 344.7K Banking & Borrowing
  • 250.6K Reduce Debt & Boost Income
  • 450.4K Spending & Discounts
  • 236.9K Work, Benefits & Business
  • 610.7K Mortgages, Homes & Bills
  • 173.8K Life & Family
  • 249.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards