(also posted on ADVFN and FBB.)

All,

I'm 100% sure this is a scam, but can anyone confirm for sure?

A work colleague has been approached by a company called STRATFORD ADVISORY, a forex broker based in Barcelona, Spain, via a cold call! (all the alarm bells are already ringing for me, even at this stage!)

They are offering him the "opportunity" to trade US $ v Euro on an advsisory basis.

They are saying my friend would have to transfer Euro 10,000 to commence trading.

Money would be transferred via Bank of America to OAKMONTFX.com, who are based in Geneva, via Bank of America, Sarasota, Florida, USA., or by Barclays London, via Curacao, Netherlands Antillees.

website www.oakmontfx.com


They are saying that "provided there is movement between the Euro and US dollar, he will make a profit! He will only fail if there is no movement!

We have checked with the FSA, and Stratford Advisory are not known to them, yet, at least.

Has anyone had any dealings with either Stratford Advisory or Oakmontfx, and if so, please relate any experiences you have.

I fear the worst!

TIA,

Andy.

Obviously being based overseas there is no FSA protection. If anything went wrong there would be no practical redress whatsoever unless the thought of suing in the Spanish or Swiss courts appeals.

Kayak,

Sadly, after explaining all this, and that in my opinion the near certainty that this is a con, my colleague remitted 10,000 Euros on Friday!

I knew my arguments weren't convincing him, and he simply wants to believe!

Two certainties from this transaction :

1. Your friend can kiss goodbye to 10k.

2. Your friend is a mug.

Almost forgot the third certainty :

3. They will be back for another bite fairly soon. That will confirm whether he is a regular mug or a super-size.

Let us be thankful for the fools. But for them the rest of us would not succeed.

Pinsticker,

I can't disagree with you on any point, I did my best, he just didn't want to believe me.

I did hope that someone on here or ADVFN would confirm it was a rip off by their own experience, as that would have probably convinced him.

I feel sure they are probably a new company, (or an old company with a new name) and that's why the FSA don't know them, (YET!)

I await his experience with interest, and more than a little trepidation!

A cursory glance at the risk warnings on their website would put off most sane people IMHO!

Andy,

Take a look on Google and search for Stratford Advisory (click on the trade2win link - you will need to register) - it should put the frighteners on your friend - too late for the 1st 10k, but it should stop him throwing good money after bad (unless he is a complete idiot).

Pinsticker,

Will do, thanks.

Pinsticker,

VERY interesting thread on T2W, I am also a member there, (although not logged on for a while), and I have shown the pertinent posts to my friend, who listened quietly and without comment.

Interesting that when I looked up the previous names for the company, Harrington, Richmond Royce, and Morgan Lynch, the FSA site has warnings aplenty about them.

Thanks once again.

Suggest you all take a look here:

An interesting list on this page! Worth reading the whole (longish) page)!
http://www.crimes-of-persuasion.com/Crimes...verseas_ops.htm

If above not work tryhttp://www.crimes-of-persuasion.com/Crimes/Telemarketing/Outbound/Major/Investments/overseas_ops.htm

or page two of this: http://www.sharesforum.co.uk/index.php?showtopic=1395