Tag Archives: bgc trading

BGC Trading

BGC Trading or BGC Partners are the new morph of Universal Trading Strategies.

bgc-trading.com, bgctrading.com.au , bgcpartners.com.au

Most of their website material is an exact copy of utscorp.com.au. They give their address as 140 Bundall Rd but the contract gives 2/91 Upton St which is/was UTS’ home.

Now they are offering Index investing and Forex automated /black-box trading with a hefty price tag of $10,000. They claim there are many excellent automated forex trading softwares out there, and a lot of good ones. Expert opinion is quite the opposite, even suggesting that there are NO good automated trading softwares at all.

Reports are now coming in (see comments) that clients that were having their ‘trading’ done through bestbets247 for BGC have suffered massive losses whenever they tried to instigate a withdrawal. They are then offered a better ‘managed’ account if they pay a large sum of money to take their account to the next level. Beware, this is a common scammer tactic, using the lure of ‘better’ product to regain unexplained losses. Do not be fooled. Do not give them more money.

Please read the comments below

read all about Universal Trading Strategies here

Universal Trading Strategies

Universal Trading Strategies , utscorp.com.au

update 13/4/15 now morphed into BCG Trading / BCG Partners

bgctrading.com.au , bgcpartners.com.au

update 15/08/2014 MAJOR WARNING on this now. The bookmaker is now revealed ( bestbets247 ) and at least one account wiped out. Read more on Bestbets247’s shady dealings here

Newly set up in January this year in Bundall on the Gold Coast, they are selling sports betting investments and  also forex trading software.

About the Forex software I am told:  ‘The software comes with built in strategies, you can run a particular strategy for the last year or 2 years and see what you could have made. Obviously, nothing is guaranteed, there are stop losses and profits set in place.’

If you do get to try it out, make sure you paper trade first and don’t rely on past results.

Regarding their sports trading. They claim to be able to make around 10% return per week. Licences are sold starting at $10,000 for one year and they also will take out a 10% fee on any profit.
They offer a trial with your own 500 bucks.The bookmaker they use is Bestbets247.net in Costa Rica , where a lot of other dodgy bookmakers are. The website was only set up in March this year, so hard to have much faith in them. I tried calling the support number for Australia, UK and HK and all had the same message by an Australian saying the ‘due to high call volumes’ (on an Sunday night!?) they couldn’t answer the call.

I’ve seen a sample of their trading from inside a live account. Lots of bets on very short odds..as low as 1.01. You’re going to see long runs of winners and I’d say they rely on that to give you an unrealistic sense of their ‘prowess’. This particular account was going along fine on modest $100 bets and then had 2 or 3 massive losses when the bet size suddenly jumped to well over a thousand dollars. Account virtually wiped out. Sounds like Krajewski Lambe and Laytrading Solutions all over again.

If you were to sign up for a licence, there is a ten day cooling off period but note that it may not be what you expect so you would need to read it very carefully. While they won’t take any money from you in the ten days, they also won’t trade for you in the ten days or supply any software. So it is simply giving you time to reconsider your purchase. You wouldn’t get to use the product in those ten days.

Make sure you ask lots of questions and as with any invetsment, don’t dive in just becasue the returns sound so good. Research, trial, take copious notes, and think carefully.

Please conact us if you have any information or are thinking about joining.