HSL market system is a scam

What is their company details, I couldn't find them on Companies House website!!!

Now I am not on holiday and have access to a lap top rather than typing on my phone I will elaborate on the sales techniques I over heard.

If it is not the same company I did some installation work at then it will be a similar scam.

This is from memory, I was there about two years ago but remember it fairly well as I have a back ground in financial services and knew what they were saying was BS

The customer was told the cost of the system was (roughly) £8000 but they were so confident the system would make money you would make money you only need to pay half the cost now. The other amount was due in 18 months and you could pay this out of your profits. If you did not make any money (They told you this was not possible if you followed their instructions) you did not have to pay.

They told people that they also supplied the software for many trading floors including Barclays Bank.

They asked you if you had a pension, when you said yes they would tell you do you realise your pension provider uses the same system as them but charges you 10% commission. Why not cut the pension company out and reap the extra money yourself.

If you said you did not have a pension they would use the above but word it for ISAs

The software is supposedly professional and only available to banks etc but once a year they realeased a very veyr limited number of software licences and you had the chance to buy one of these licences.

They will supply you with recommendations to buy / sell each day.

What are your attitudes to risk? I see you do not want to take to many risks, that is ok as the software allows you to program in stop losses so if in the very unlikely event one of our recommendations loses money you can ensure you can prevent losses more than say 2%.

They had at least 8 sales people and they were very very good salesmen using very high pressure sales techniques. They looked to be on very high commissions and it looked to me they were signing up many people a day. They held meetings every day and would discuss the main news items and ways they could use it to their advantage to word their sales to best effect.

It looked to me that they would appear to receive a small comission for getting a customer to accept a demonstration of the software in their home with the salesman talking the customer through the demo over the phone.

There were many other things they said, but I cannot remember them all.

As I mentioned before they were in a serviced office (Near Tower Bridge) and their office had two doors (Very close to each other). Each door you had to press an intercom and be buzzed in. It was clearly their to give them extra time if they were raided / prevent any unwanted visitors.

As mentioned before, I will happily give the address of the company I did a few days installation work at via direct message if anyone wants it for reporting it to the police etc. The chances are they will have moved or will be monitoring this thread so may be long gone. They were making really serious money so moving offices for their new company would not be a problem for them.

They were clearly targeting potential customers who could afford to spend £4k and who would be interested in investing in the stock market.

Do not feel stupid for being scammed as these guys were very very good at sales, there was so much money in it for them that they would tell you anything to get a sale.

I think from memory of looking at their white board with sales each salesmen was expected to sell 5+ a week...

Awesome idea Barry. Im with you 100%
I've had email confirmation from Action Fraud. I've also given a full report to Lloyds Bank, witch is being looked into by the Investment Fraud Team. Will happily exchange numbers and make sure these guys get what they deserve. Jail!!!

Alc124 wrote: »

I too paid £4950 for the system and £799 for data.

Feeling very stupid just now.

I paid £500 on CC and rest bank transfer.

I will contact bank tomorrow and take advice.

Are the bank likely to refund due to the insurance on credit card?

Yes you should get a full refund under section 75 consumer credit act.
it covers you if you paid just 10% of cost on CC.
it covers you for the other 90% funds you lost too!