Classic boiler room
once they had my details I was subject to a series of phone calls pressuring me to subscribe again. I did not discount the idea of resubscibing but explained I had series health issues that were taking my attention.at the time (cancer)
The response from the sales person was nothing short of rude arrogant and insulting
Don't respond to email queries
My membership has more than 1 year to run but I no longer receive the daily emails and cannot access them on their website. When I queried this the first time someone rang me to discuss why they had moved from email to needing to access the daily via the website. Good for you FatProphet, I get the reason but that is irrelevant to my query! And no I don't wish to talk to one of your sales staff on the phone when I work in an open office environment. I have sent two follow-up emails and not had a response. Customer service is apauling.
I'd give you a zero if it was possible.
Hit and miss
Was with them for over 5 years. Basically they make a weekly recommendations and some mid-week ones. Some work and some don't. It just depends on your luck which ones you happen to choose. One recommendation I went with went bankrupt 3 weeks later. Another one doubled in 2 years. They like to say "ABC" which we have recommended went up 5% today. But many times it drops 5% the next day which is not mentioned. Their web site is very basic. After 5 years I would have made more money leaving my funds in a bank account. Essentially I have decided that these sites are a waste of time and I should just be buying quality shares and keeping them for a long time. Forget trading unless you are an expert.
Poor Overall Performance
The nature of these types of advisories means you take the good with the bad overall. Problem is that Fat Prophets gets it wrong more often than they get it right. My perception is that on average they promote themselves to get it right mostly and put the investor in the money, it's simply NOT accurate. They do sometimes have good ideas, more often than not, their calls are not that great and often I have lost out, even after persisting for several years. If you treat as information only and have a decent understanding of the market and get mor...e accurate information elsewhere, they can be of "some" value. For me, I have learnt from them enough, that I will not be renewing in future. Hopefully, they will stop pestering me to renew even when I have over 12 months left on my subscription. Now that is annoying and also concerning! Understand why so many believe them to be a SCAM.......with so so much cold calling and urging to spend big for very average information. Perhaps what Fat Prophets really means is Fat Profits for the company itself, at the expense of the subscriber!
I paid $$$$$ to join for 5yrs.
I have invested in some of their managed funds and in FPC not to mention many share recommendations.
I am much worse off than when I was before I joined. I realise this is the risk you take.
have sent emails asking questions that never get a reply, have asked for a return phone call several times and apart from 1 call which I missed they have not returned phone calls.
my suggestion to anyone going to sign up, don't!!!
Filter of information
I have been a subscriber for many, many years. I cannot say I have done exceptionally well out of my subscription. I subscribe because I regard their service as a filter of information. It is impossible to keep abreast of the global markets so I pay them to do it for me. I then act on their advice or add it to other information I have acquired through other sources. I am a passive investor. I regret not buying MFG when recommended at around $1.50 but I am happy I bought EVN at around 40 cents. But them I also think it is impossible to beat the market consistently.
Their time has past
I have been a member of Fat Prophets for over nine years and have found the accuracy of their recommendations to have deteriorated in the last few years. I would have been better off leaving my money in a bank account. Their two exchange listed managed funds have been deeply underwater since inception. Of the 25 or so recommendations that I have acted on in the last 3 years, I currently have 5 that have gone up. I have also encountered an arrogance occasionally with staff typical of the financial sector. I will not be renewing my subscription in 2019.
I have been a long term subscriber (more than a decade), mainly due to their high pressure sales tactic at renewal time. I have found their recommendations to be "50-50", about half of the tips will make money and about half will lose money. Unfortunately for me, the tips that I followed up lost money.
- Verified customer
I have subscribed to Fat Prophets for over 5 years and have bought and sold the shares of over 32 companies following their recommendations. In my opinion their daily big picture blurg is quite good but the quality of their research is terrible. In my experience over 83% of the recommendations I followed were either sold at a loss or are still held at prices below the recommended price. They constantly report the price increases on their small number of successful recommendations bur never acknowledge their many failures. What is really annoyin...g is to read quite regularly in their daily blurg that their managed fund had sold out of shares that their research "team" is still recommending that subscribers hold. If that is not a conflict of interest I don't know what is. I find it difficult to believe that the favorable reviews on this site are genuine. This is a sales organization that ASIC needs to pay closer attention to.
Nightmare to get a refund
Following a high-pressure sales pitch I subscribed. But I decided after a few days it wasn't for me as I am a low-income earner and $900 is a lot. So, in about June I requested a full refund as advertised. First they said the cheque went missing, then it needed to be cancelled and counter-signed etc. I have to agree with Scammed. Its very very concerning. Maybe there should be a Financial Newsletter Royal Commission. Not once have they contacted me, Surely a EFT refund is not that hard to do.
Amazing . My investment is growing super quick
Wonderful technical support. They have all latest trends available to make the investment grow faster and quick . I have purchased a daily note package , it’s really efficient and worth. In the coming time , would love to become platinum member with them and investment will be fat . Their team is super intelligent with bright ideas and skills . Highly recommend fat prophets to everyone . Cheers Rick .
A treasure trove of investment advice
Fatprophets may be the site to rescue you from doing the regretted, impromptu investment after a work Christmas party. Subscribing to fatprophets has felt like a having a friend who really knows what they are talking about (or maybe 10 friends). Whilst all the information presented is easy to understand, I am impressed by the breadth and depth of what is provided. The information from fatprophets is always relevant and thus I have appreciated the opportunity to continually develop my knowledge.
Great for new investors
I’ve been wanting to get into investing and share trading for a long time but have always found the sites either confusing or mislead. However this hasn’t been the case with fat prophets. I love the ability to receive recommendations on potential trades and read their reviews to further your knowledge and confidence. The weekly reports also offer great insights into the intricate nature of trading. Would highly recommend.
Not particularly insightful, won't stop spamming me after I unsubscribe
I subscribed to Fat Prophets some years ago. I unsubscribed after finding the reports were not particularly useful. After I unsubscribed, the company continued to send me offers to resubscribe. Despite my repeated request to unsubscribe from their mailing list, the emails keep coming. Their blatant disregard for my privacy is another reason I will never become a paying member again. So if you are thinking of becoming a paying member, think carefully before providing them your details.
Questions & Answers
Has anyone else had troubles with the Fat (Super) Prophets reporting system.
As a result of the sale of a $50K+investment in a global share portfolio I have received $12K (approx) but no one can tell me where my other $40K is - on their system there is no area the records funds pending settlement. Lots of promises -admin will fix but nothing has happened.
No, I am not aware of this, I can only comment that their communication can be pretty weak and loose, pays to keep on top of them.
Report the issue to ASIC & APRA, missing money with no explanation from a financial institution is a major RED flag!
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