Stocks and shares trading scams

Stocks and shares trading scams

Have you seen an offer for shares and shares trading software that seems too good to be true? Chances are you are absolutely right!

Like most promotions that promise an easy life, you sit back after an hour or so of work
pajamas while dollars are rolling in, it's probably a scam. Share trading scams are more common now that so many of us have internet access, although many variations existed before the Internet. One of the more modern versions will take a special software package that analyzes stock market data. These data are entered by you or a newspaper or entry by the promoter after you connect to their system, the software then analyzes the data and provides recommendations to buy or sell that to make trades for the day.

Often this expensive software package turns out to be little more than a dressed table, which can probably put together myself. Worse, after using the package for some time dawns on you that you will need to make many thousands of trades, have very deep pockets, but also a whole bunch of luck in order to make a kind of return will be the promoter sold. Remember that stock trading patterns of the past which is often a useful guide in no way predict future movements in the market!

Worse again, you may find that you have managed to use the "recommended" broker who understands the benefits of each buy or sell order to be able to do in the form of brokerage will have to pay. What do you say? Broker and promoter related businesses or joint promotion for the software? Now there's a surprise!

There are several variations on the theme such as software for gambling on the outcome of horse races. The software produces a recommended betting strategy based on all the horses past form. Save yourself the money and all the data input and only get to see what your paper says that instead. Newspaper tipsters working with the same historical data and are at least as accurate!

As with all things in pajamas type scams, the usual warning signs should set the alarm bells in your head. Does that sound too good to be true? Are there many glowing testimonials from satisfied customers, none of them can actually identify and contact?

Stop and think - What software are accused of or access to the system? What are the running costs once you opt in? Why is a promoter selling this excellent package? If he is lying back on a beach somewhere, rather than spend their time marketing?

As always, buyer beware!



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