Oil Stocks

AndrewC_3

Has anyone had experience of dealing in commodities such as oil? I have been approached several times by Total Asset Management and am unsure whether or not to take a punt?

luckylizard

i'd be wary of anyone who approaches you for that kind of thing, they almost certainly want their cut. but check out ETF Securities if you want to buy oil ETCS.

dunstonh

If you have been approached then consider it a scam. Genuine Investment firms do not cold call. Boiler room scams or similar do.

http://www.moneymadeclear.fsa.gov.uk/news/scams/share_scams.html

tradetime

I wonder is this them
http://totalassetman.com/
Would be afraid of that if it is, as dinstonh says 99.99% of cold calls will be a scam, legit companies have better things to do with their time, assuming of course it was a cold call, and not someone you have had dealings with before?

dunstonh

tradetime wrote: »

I wonder is this them
http://totalassetman.com/
Would be afraid of that if it is, as dinstonh says 99.99% of cold calls will be a scam, legit companies have better things to do with their time, assuming of course it was a cold call, and not someone you have had dealings with before?

Look at that website. Created 1:30PM, Tue, 14th Jun 2005 yet it says under construction. Address smells bad. Looks like a quality london address but probably doubles as a PO box. The FSA register has a different postcode for them which could suggest PO box.

Sage are a network and you would expect a network to make errors like incorrect address details on FSA register (make the errors maybe but not correcting the error would be unusual).

It appears that that others have thought the same too:
http://boards.fool.co.uk/Message.asp?mid=10911646&sort=whole#10912130

They could be genuine but cold calling with investments should put you on guard straight away. Inconsistencies in website data, FSA register etc do not help.