Blue Chip Shares

Blue Chip Shares Failed to Discuss Important Points about this investment – I did my research into investing in Blue Chip Shares on the FUTURES MARKET with this company & thought initially I would invest $200,000. They said they only invest in the top companies which sounded good, not the Penny Dreadfuls. However, I thought about it after, & considering it, I cut it back $50,000 then down to $20,000, just to see how they would go for 12 months in the Market. We discussed it All as I believed, and they were offering a lifetime membership if I keep the account active. I didn't want to loose everything, so eventually I was happy with $20,000 to limit my liability. The set-up charge was $5750, which I duly paid from my Family Super Account, and a one of non-refundable charge.

However, over the next couple days I went through the setup arrangements to for the account, which there was a fair bit of paperwork and pay the $20,000, which i decided against. This was because I discovered they wanted unfettered access to my SMSF Bank account, and reading through the paperwork, if they took losses, I would take the unlimited losses due their trading.

Remembering Barings Bank collapse in 1995 as a result of poor investments and a rogue trader, I got Cold Feet over the whole business....

I am angry that the representative never explained this and I had I put $5750 of our hard earned cash for our future.

I can only warn other investors about this firm if they are contemplating a similar investment. Furthermore, I will taking my concerns to the ASIC for some clarification on this issue as we All need to be aware of the pitfalls of managing one own investments and what someone wants you to hear.

Personally, I didn't do enough research. However, I couldn't find anything on Product Review or any other site about this company and have to regard this as an expensive lesson for me, and my long suffering wife.