Does anyone know anything about this company, Wellington Trading Group, located in San Jose, Costa Rica? Are they related to the company that was sued in Florida? They deny it, but their activities are suspiciously the same. Their focus is on the exploitation of seasonal supply and demand commodities (oil and gas) in cash markets, and their broker has told me that I can more than triple my money in less than three months (yeah, right), if I open an account with them today. I did a bit of research and informed the broker of my findings...markets anticipate and account for supply and demand factors in the price paid for the options underlying futures contract and there is not a direct correlation between an increase in the price of a commodity and profits from trading options in that commodity. The Wellington broker said my information was incorrect and that I would be losing out on a big opportunity if I didn't open an account with them today. What is the real truth? Admittedly, I am a newbie in this field, but I am anxious to learn.
Never heard of that outfit before but I'd stay FAR away from anybody who says they'll triple my money fast.
as sum1 whose completely objective, according to what you just said I would think avoid them until you know more. I think you're probably leaning that way too. Can't help you on the name. Cheers!
There was a previous thread on this as well.. http://www.elitetrader.com/vb/showthread.php?s=&threadid=58972&highlight=Wellington
Thanks for further information on Wellington Trading Group and other posts. Yesterday, their "Quality Control Representative" called me to tell me that they were not involved in the Florida law suit, that my information on options trading was incorrect and literally tried to strongarm me into sending them some money as I would be missing out on a "big opportunity" and that I should give them the names of 3 people who also wanted to make money. I told him I wasn't interested, to put me on their Do Not Call Back list and hung up. This is a great site!
I had a good experience with these guys of Wellington Trading Group, I never triple my money or made a big profit as they said, but I had a reasonable profit on my investments with them. At least i know they are for real
I live in costa rica. This guys are constantly hireing and training people to do marketing for them and they promise "borkers" 100k a year if they have a burning desire to succed... among locals that job is know as "the scam"...
I thought that what they where telling was to good to be true but I did a small investment of $5,000 in heating oil and almost tripled the investment. I am currently taking the original $5,000 and putting it in unleaded gas. There is one that I have found to be true about this company and that they don't hide the risk and the never lied about what was going on with my account. I had total control over my money and was kept informed as to what the market was doing usually twice a week if not more. All you non-believers can say what you will but you are the ones missing out. Sometimes companies do what they say thier going to. No matter how much they are getting burned at the stake by the witch hunters.