What is your opinion about TCA Markets's Remote trading concept

[PitBull]

it's a scam. They have lawsuits against them from former remote traders. Steer well clear

 

[fantastic]

Hi all,

Its my first post and i dont like to normally make it a negative one but i went to the TCA seminar yesterday and have to say it wasn't very inspiring and seemed to be preying on the weak minded or the people that are desperate to make it as traders.

In short, you pay 4K. If you are even or making money at the end of the 4 months, they keep you and if you have lost, they ditch you. They didnt seem to be interested in retraining or helping you find the solution after 4 months.

They held the seminar in the Institute of Directors - a place where as a company owner and a person that pays about £300 a year, a person can hire a room and make it look like you own the office.

It was a round table discussion where the MD (newbie that continuously said "we're different as we are not trying to sell you anything.....but it'll cost you 4k") and a top trader/mentor that had worked in top institutes but wore an oversized suit and lacked a lot of confidence (not common characteristics of top traders that i've passed before).

In conclusion, i may be wrong but i felt they were taking advantage of people and i dont see it as somthing i'll be signing up to. However my father said hat he wants to go an spend half a day with a mentor to see their style of mentoring and the office set up. It'll be interesting to see their response when he requests it.

" Scams come in many forms and are getting more sophisticated all the time. So, even if you think you would never be fooled, make sure you remain sceptical about offers that seem too good to be true – they usually are!"
Scams and swindles : FSA Money made clear – News

Anybody can be preyed upon. The IoD has a very good reputation.
Your denigrating "simple minded" or "desperate" is not helpful if someone has
been conned. You should try to encourage any conned person out there to come
forward and not keep silent. Some scams are so sophisticated ,
you would not believe it.
Obviously failed traders have a choice : become crook or
develop other productive skills.
As one would expect, some choose crook - a seductive path...
leading to ... jail(?)

You could be more helpful by providing a list of very sophisticated lawyers.

For anybody who has been conned : don't suffer in silence or fear ridicule.
Help is available. These agencies are very helpful

The Office of Fair Trading :clap: :clap: :clap:
The Office of Fair Trading: making markets work well for consumers

Consumer Credit :cheesy:
http://www.oft.gov.uk/advice_and_re...credit-licence/

Consumer Protection

Consumer Direct

mis-selling

Financial Ombudsman Service

http://www.guardian.co.uk/money/200...ppi-creditcards


The FSA:
Financial Services Authority

consumer information page
Home page : FSA Money made clear

"staying safe against scam" -
http://www.moneymadeclear.fsa.gov.u...inst_scams.html

some scams here:

http://www.moneymadeclear.fsa.gov.u...ams_step_1.html

more detailed description of scams:
http://www.moneymadeclear.fsa.gov.u...d_swindles.html

 

[April948]

Wouldn't advise you touch TCA with a barge pole

What I saw in their presentation (http://www.tcamarkets.com/ukintroduction.wmv) for me sounds fair enough deal. Is there any one here whos been at TCA markets or in their remote trading training program. Share your experiences.

Went for a seminar and placed my name on a list to be contacted in a week or so regards whether i could raise the finances for the course and 3 months later i get a letter through the post stating i owe £3000. I never downloaded their trading platform and i spoke to them once after the presentation in which i informed them i could not raise the finances to cover the cost at the moment only to get a letter solicitors on their behalf stating i gotta pay 3k..

Had a friend who attended the seminar too who received the letter on the same day..

 

[fantastic]

Went for a seminar and placed my name on a list to be contacted in a week or so regards whether i could raise the finances for the course and 3 months later i get a letter through the post stating i owe £3000. I never downloaded their trading platform and i spoke to them once after the presentation in which i informed them i could not raise the finances to cover the cost at the moment only to get a letter solicitors on their behalf stating i gotta pay 3k..

Had a friend who attended the seminar too who received the letter on the same day..

As I wrote, do not suffer in silence, nor fear ridicule.
May be someone should organise an open evening for former tca "clients" at the IoD.
A seminar with some FSA and other representatives ( OFT, law society, consumer protection, ... ).

Just by curiosity, are the solicitors based in London or not?

 

[mansoor999]

" Scams come in many forms and are getting more sophisticated all the time. So, even if you think you would never be fooled, make sure you remain sceptical about offers that seem too good to be true – they usually are!"
Scams and swindles : FSA Money made clear – News

Anybody can be preyed upon. The IoD has a very good reputation.
Your denigrating "simple minded" or "desperate" is not helpful if someone has
been conned. You should try to encourage any conned person out there to come
forward and not keep silent. Some scams are so sophisticated ,
you would not believe it.
Obviously failed traders have a choice : become crook or
develop other productive skills.
As one would expect, some choose crook - a seductive path...
leading to ... jail(?)

You could be more helpful by providing a list of very sophisticated lawyers.

For anybody who has been conned : don't suffer in silence or fear ridicule.
Help is available. These agencies are very helpful

The Office of Fair Trading :clap: :clap: :clap:
The Office of Fair Trading: making markets work well for consumers

Consumer Credit :cheesy:
http://www.oft.gov.uk/advice_and_re...credit-licence/

Consumer Protection

Consumer Direct

mis-selling

Financial Ombudsman Service

http://www.guardian.co.uk/money/200...ppi-creditcards


The FSA:
Financial Services Authority

consumer information page
Home page : FSA Money made clear

"staying safe against scam" -
http://www.moneymadeclear.fsa.gov.u...inst_scams.html

some scams here:

http://www.moneymadeclear.fsa.gov.u...ams_step_1.html

more detailed description of scams:
http://www.moneymadeclear.fsa.gov.u...d_swindles.html

Nice useful email!!

 

[karendavidsonperrins]

Thanks for that - I thought it was a scam, I'd go nuts over those letters!!!!

 

[Boont]

I understand that TCA Financial Ltd. (Markets) are in liquidation and that an Administrator has been appointed. However, they are still trading. Check out this Forum:-
TCA Futures [Archive] - UK Business Forums
I was also tempted but decided to check them out after they sent me some documents and a contract.
I think all the Companies I trade with are registered with the FSA but TCA do not appear to be. Mind you, they do keep changing their name!

 

[Parky]

TCA is not nor was it ever FSA registered; you don’t need to be for Prop trading. You do need to if you take client money, unless you take it for "charges" or "Training" or it is an LLP structure where you are becoming a "Partner". However just because you do not have to become FSA registered doesn’t mean that other companies don’t, although not a guarantee as traders who got caught at Griffin will tell you, it does mean the company has had to meet some financial criteria, that the directors are liable and that the trading company is serious about what they are doing.
Read into it what you will about companies that find excuses not to go down this road.

 

[Finance Watchdog]

The company trading as TCA MARKETS has entered into Formal Insolvency Proceedings.

Premier Asset Ltd, formerly TCA FUTURES LTD, currently trading as TCA MARKETS is under administration with liquidators CMB Partners LLP.

Contact Mr Rimes of CMB Partners LLP, 25 Ely Place, London if you are an unsecured creditor.

Search company number: 03228573 at the Companies House website for information.


You have been warned!


If you would like a copy of the Statement of Administration under the Insolvency Act I will happily email you it [email protected]

Cheers,
Dave

 

[Finance Watchdog]

TCA Financial Ltd is a "shell company" with capital (cash at bank) of £1 x 100 shares, 2 Directors S. Davies and T.Davies understood to be brothers.

TCA Futures Ltd, now Premier Asset Management - is under administration owing creditors including:
Per Statement of Affairs under Insolvency Act 1986 High Court Case 10820 of 2008:
17 / 02 / 2009

Schneider Trading : Unpaid Rent on Trading Floor £90,000
Johnson Holmes Accountancy: Accountancy fees unpaid £15,862
Mills and Reeves LLP: £15,396
Equilibrium Markets: Unpaid Debts £110,330
Arjuna Martin: Frontier Financials £288,000
HM Revenue and Customs Unpaid Taxes PAYE £ 92,000

The list goes on.

This is provided as a warning to the public, this information is available from the Companies House, do your research before becoming involved with a firm who are unable to cover their own rent, let alone make you money.

D. Hillenbrand

 

[sask]

Today I got a call from someone from TCA, (I registered on their website to see the presentation online on their website). He seemed like selling this on to me saying the price of the current program is going to go up in next few months. Unless I schedule a interview with them in the next few weeks, I would have to pay the dearer price. I politely told him I will think about it when I have 5000 quid to throw-away, just like that.

Which of course I know I would not have.

 

[traderboi29]

You Lot Should Contact Bbc Watchdog And Tell Them The Story So That They Can Get Exposed!!!

 

[Finance Watchdog]

Case 491d Gregor Slovenia Lost Money No Integ

Another sad experience with TCA Futures / Markets I am afraid

TCA List of Debtors
Syllabus