All,

Is there anyone here that is a client of City Equities?

If so, have they rung you regarding a mining/resource stock last Friday, or today?

If so, can you remember which one please?

I would be grateful if you could post it here, as I hold an account but don't want to ring because they can be a bit pushy.

Please don't be shy!

being a client of City Equities is nothing to be ashamed off, i'm one too!

Go on Andy - call them, you know you want to really :-)

velocity,

I don't like being pushed, so trying to find out here, and if it's one i'm interested in, I will indeed call.

Their dealers are essentially salesmen, and pushy as a result, which I personally don't like.

Eurasia mining was one of their share tips for 2004, but fortunately I don't get the "boiler room" phonecalls.

Yes I'm a client and brought some Eurasia EUA in August 2003.
I think they also suggested Tertiary Minerals TYM in May last year.

Im sure i can find out for you and post in the morning

pjacobs(MoneyAM),

that would be appreciated, many thanks!

Just say "No"... !

Kayak,

but as a holder of mainly mining and resource stocks, I'm genuinely interested in which one it is, and MAY buy if it's one I like.

Thye have a clever trick of asking you how much liquidity you have before they tell you about the stock!

andy not a client but way round that is to say you have no cash but if it is a stock you like you will sell some of your current holdings.

Wether you like them or not I managed to make more than 70% profit in a year.

woodie,

No that doesn't work!

They ask you how much you have available in Liquid assets, ie how much CASH you have, and if it's under three months salary, they won't tell you!

I know I could lie, but prefer not to do that.

I think they are learning, because I used the "I will sell something" ruse last time, and then didn't buy his recommendation.

I think they want to make it harder for you to say "no"!

These are boiler room tactics, IMHO, and have nothing to do with investing.

Andy,

sorry mate, they wont tell me.

have to hold my hands up and say i used to work there.

pj,

ok thanks for trying!

Interesting article re "boiler room" brokers!

http://business.timesonline.co.uk/article/0,,8214-1324788,00.html

A list of the FSA "banned" companies can be found here


http://www.fsa.gov.uk/enforcement/firms_overseas.html

A list of the FSA "banned" companies can be found here


http://www.fsa.gov.uk/enforcement/firms_overseas.html

A list of the FSA "banned" companies can be found here


http://www.fsa.gov.uk/enforcement/firms_overseas.html

latest Parker Rowe tip (at 5p last week!) doesn't appear to be going too well!


Pearl Street Or 3.62 -0.875 -19.44% 3.25 4.00

Yes a total pile of hyped up sh*te Andy.

Parker Rowe read these bb's (certainly ADVFN) cos they asked a mate if he was "Dil" .

Apparently this Dil chap had slagged them off on ADVFN :-)

Here's the link Andy.

PSH Thread

Dil,

Thanks, this "Dil" chap seems to be a real thorn in their side!

The Mail on Sunday wrote an article about Parker Rowe a couple of weeks ago, it seems they are not so impressed either!

The link is pasted below;

http://www.thisismoney.co.uk/news/columnists/article.html?in_article_id=396298&in_page_id=19&in_author_id=5

Pearl St. Holdings now doen to now 3p bid!

A 40% drop in two weeks?

Are these guys impoving?

A pertinent article for any potential CE clients, from the AFX today!
----------------------------------------------------------------------

UK small caps stay weak, near session lows midday; Myratech dives on stake news

LONDON (AFX) - Shares in UK smaller companies remained weak at midday, underperforming a firmer blue chip market with a sharp fall by 'shell' company Myratech a feature after stake sale moves by City Equities, dealers said.

At 12.18 pm, the FTSE Small Cap index was 6.1 points lower at 2,968.1, fractionally off the session low of 2,968.0, having only reached a peak of 2,974.5.


Shares in Myratech.net topped the smallcap casualty list at midday, shedding over 40 pct in value -- albeit with a 0.55 pence decline to 0.77 -- after news that City Equities had sold on its 17.63 pct holding in the 'shell' company.
Myratech said it had been informed today, that having purchased 50 mln shares in the 'shell' firm following a recent placing, City Equities has now sold the shares on to its private customers.
------------------------------------------------------------

A clear demonstration, if one was needed, of the effects of a City Equities bulk buy and sell on the value of a share.

And then of course there is the spread!

Parker Rowe received another mention in The Mail On Sunday yesterday.

Boiler room back in action

http://www.thisismoney.co.uk/news/columnists/article.html?in_article_id=397988&in_page_id=19&in_author_id=5

Are there any current or past City Equities or Parker Rowe clients here please?

if so i would like to discuss what shares they have been offering, and success or failure rate of their recommendations.

Also, have any Parker Rowe clients bombarded with boiler room and bucket shop type broker cold calls since joining?

I got an email from them saying that they want to send me their current portfolio free so like a mug I mailed them back and got it. Ever since I have been getting a call a day off them. Thank god for caller display!!
This is their current recomendations I think.
Im not sure if they have sold any but here they are.
Cambridge Minerals, Earthport, Formjet, Hereward Ventures, Maverick Entertainment, Mediasurface, Mos International, Subsea Resources, Caledon Resources, Desire Petroleum, Pavilion Insurance, Regen Therapeutics, Screen FX, Telephone Maintenence Group.

If anyone wants a copy, either post your email address or contact me via the private mail facility via moneyam. Its in PDF format.
Wilbs

Don't give them the time of day. They really shafted me. It bordered on fraud.I was tempted to take it to the authorities but an individual can never beat a big boy. Stay away.

profitmaker,

I agree with your comments, they lied to me too, but I knew I was right, as I had done the research, so I never ever bought from them, I don't deal with people I can't trust.

They offered me EARTHPORT (LOL!) at 3.75p, when the market price was 4p offer. He read out a lengthy spiel about how EPO were going to take off, and were a fantasic opportunity. He then proposed I buy 90,000 shares at 3.75p.

I went away to check out EPO, and as I was doing so, "news" came up on the monitor. EPO had just done a placing to City Equities at 2.5p!

I knew the price would drop, which it did, so I rang the guy back at CE, and said I could now buy in the market cheaper than through him, as the price had dropped due to the CE placing at 2.5p. He kept on denying they had a placing, until I said the LSE website must be wrong then. Then he started talking about "that's how they make their money", and AIM stocks are risky etc etc.

I knew then I could never trust anything he said, and never bought from him.

Please share some brief details of your experience, which stock was it?

IMHO it's worth taking your complaint to the FSA, and Tony Heatherigton at The Mail on Sunday, as he has achieved a refund for a Parker Rowe client!

profitmaker,

try the fsa mate, they can only say no!!!

I would...

profitmaker,

Please check out the Mail On Sunday financial supplement pages 16 and 17 today!

http://www.thisismoney.co.uk/news/columnists/article.html?in_article_id=401475&in_page_id=19&in_author_id=5
In particular, the final paragraph!

Post over in ADVFN. I was a client of City Equities until recently. I was shafted so many times I only have myself to blame. I agree they are very persuasive, and I believe that they dump sock from the larger clients on to us. My advice is never ever believe what City Equities dealers say.

profitmaker,

Check out the MOS article here;

http://www.thisismoney.co.uk/news/columnists/article.html?in_article_id=401475&in_page_id=19&in_author_id=5

All,

Is anyone still receiving calls from City Equities, Parker Rowe, or any other boiler rooms?

If so, please list any new recommendations or experiences here for others to share.

The FSA has issued a new alert, re J.P.Stuart!

I had some cowboy ring me up the other day but didn't manage to catch the name before telling him to f*** off.

LOL!

I'll ask first next time :-)

That was me you b*stard!

Gausie,

You still pushing DMR?

Yep. Off a cliff.

lol

Are there any clients of Pacific or FSW Europe here ?

On the main thread of City Equities, I have been stupid enough to fall for their slick patter on six occasions. I'm still amazed at some of the rubbish I'm holding that was dressed up as 'a very exciting situation'. Exciting for CE maybe who act as principle buying into shares issues low and then punting them out for a nice profit.

I'll stick to following my own instincts and research rather than these so called penny share 'experts'

From my experience I would advise not to deal with these people.

Peeps, surely you are all aware of the compensation City Equities had to pay out to a former employee for unfair dismissal. The guy exposed the company's policy of passing on the worthless shares to their clients for a hefty premium, having acquired the same shares at a large discount.
The employee was awarded around 30000 in compensation (if memory serves me correctly).

Keep away from this company!!!!!

Link to a report of the case below.

http://www.lse.co.uk/ShowStory.asp?story=BY416170T&news_headline=broker_wins_%C2%A335000_for_unfair_dismissal

clover, britshare,

Excellent links to this case, many thanks!

EVERYONE should read that article IMO!

Oi Gausie ... if I had known it was you I wouldn't have been so polite.

Everyone should be aware of the crap recomended by City Equities. I was taken in by them 3 years ago and am still paying the price. Just so you dont think i am biased towards them take a lok at their last equitity market update July 2005 and the seven recomendations they gave, price then and now.

Access Int ACC. 10p price now 7.125p -30% approx
Blackrock Oil BLR.L 1.63p price now 1.55p - 5% approx
Delling Group DLG.L 21.50p price now 12.50p - 41% approx
Heartest Hol HTH.L 0.53p price now 0.57p + 6% approx
New Media NMI.L 2.75p price now 1.375p - 50% Approx
Quinnects QTC.L 1.88p price now 1.75p - 7% approx
Intandem IFM.L 3.88p price now 2.75p - 29% approx

Out of seven recomendations six are down substantially, and one up 6%. If you then have the missfortune to have a dealer ring you from time to time with other recomendations, not on the equitity maret updates you are in for some serious losses. On Monday i will list the recomendations made to me and show you what happened to them to date. It doesn't make me look good but I was a novice then.
I have kept a close eye on City Equities since then and how they are still in busnes is a mystery. I do not recomend anyone dealing with City Equities. I felt that they wre dumping dud companies on me, and also dumping bad stocks on me from their bigger clients.

crockanure8,

A very interesting post, and one that others here should read and inwardly digest IMO.

I am looking forward to your list of recommendations and what has happened to them since next week.

They recommended EPO to me at 3.75p, and it was below a penny in no time!

After that , the dealer would always ask me if I had three months salary in the bank BEFORE he would give me the recommendation, and as I always said I didn't, he never told me any more recommendations!

Andy
Will have the list in the morning. I can promise everyone it makes
spectacular reading. I am going to make it my personal hobby checking up
on them, and showing them for what their worth. Andy keep posting re City Equities to keep the BB on the leader page.
Crock

,,,a pump and dump worthless bunch of third rate "all patter" salesmen with as much knowledge of the markets as well,,,... Used car salesmen come to mind . ..ln a word: CRAP !!!!! ....@+ J

LOL

i bought cybit holdings a about 3 years ago on their recommendation and still holding at a big loss, i think it will come good eventually but jeez it will take a long time. On their part they did suggest SEO, TAL in the same batch which havent done too bad!

Andy,
Global Marine Energy. 150p Price Now 24p -84%
Telephone Maintenance Gp 4.5p Price now 2p -50%
Dowgate Capital 1.2p Price Now .60p -50%
Advanced Tech Uk 21p Price Now 000 -100%
Bella Media .27p Price Now .08p - 70%
Cheerful Scout 2p Price Now .09p - 55%
Reflec 1.2p Price Now .08p - 34%
Mano River 8.6p Price Now 9,25p +6%
Pentagon Protection 8.25p Price Now 2.25p -71%
Scotty Gp 4.25p Price Now 1.75p - 55%
Erix Therapeutics 8p Price Now 0.25p -97%



I have managed to get rid of most of them over a three-year period without loosing
my shirt. However each and every one of the above were recommended to me by phone calls from a City Equities dealer assigned to me. They would not let me buy through them, any stock I choose myself. All purchases were their recommendations only. They acted as principle on most occasions. The Advanced tech Uk Group went into liquidation a few months after they recommended the shares to me. I believe the shares were dumped on me through them from some of their bigger clients. I am having this investigated at present. I can understand that stocks go down, but when the entire portfolio goes down by the above %, questions need to be asked. Anyone else who has issues with City Equities please post here. I am gathering info on them.
Crock

Guys
so sorry to hear this, but so glad for my sake.
For 6 months I have been hounded by a guy called James Scryminger, finally after being hounded I filled in the form and faxed it back.
I then faced a barrage of questions but he stopped when I said what I had in liquid cash(I am fully invested) and told me I needed more cash around me before he could proceed.
I am now so glad and will just keep telling him that I only have a months salary about me.
Sorry for your losses but so glad you kept this thread going.
Stevie

Stevie,
The easiest way to keep City Equities off your back is to say
when asked, that you are not liquid. They record the calls and are not allowed to
sell you stock when you are not liquid. Posters keep the info coming on City Equities.

Crock

Hi
City Equities!
About 12 mths ago I made the mistake of filling in an on-line form, from memory it went something like ' allow us to make recommendations, under no obligation to buy through us' they drove me mad with up to five telephone calls a day. I declined for a couple of months until one recommendation rocketed to an 85% gain within minutes of her phone call. The next time she caught me in an good mood I too succumbed to the patter 'this company was 50/75% higher the previous week and will go back there in the near future etc.
2150 later plus 25.00 PA crest charge, i am still holding a paper loss of approx 45%. The company Apace Media is a solid enough outfit and as a pension investment they will serve me well. However I am a day trader or swing trader cfds the like of Apace is completely....U S.
It wasn't until after I had bought that I was told they already owned the shares they had sold me.......typical bucket shop or boiler house trading. I didn't read that on their website although it was there, in my defence, I had no intention of trading with them but I thought I listen to their recommendations........BIG BIG BIG mistake.

Sorry to go on so much, quiet day in the market for me, but one thing that annoys me, that was the last 'tip' (?) she phoned me. Don't get me wrong I obviously can manage without her phone calls. But do they have no shame?
I did get a call from her about 4/5 mths since asking me to fill in application form.
Them again on Friday last "hello its Suzy Arthur here" I told her that when Apace starts marching she can phone again until then leave me alone.
Can you believe it she was still ramping the same stock, as if although i had held for approx 10 mths I still hadn't researched the Co!
Leave City Equities alone they are not very honourable people.
Good Luck to all
Alan

Thanks Alan.

My top tips from CE's:

Actually not quite as bad as crockanure8's holdings. I think I got off lightly!

Eurasia Mining 7.25p Now 4.5p -38%
Innobox 7p Now 2p -71%
London Asia Capital 12 Now 23p +92%
Maverick Entertainment 0.4 Now 0.25 -38%
Zyzygy 0.8p Now 0.6p -25%
Cagney 10p Now 6.5p -35%

London Asia Capital has been the one share that has risen but doesn't come near to covering the overall loses.

Has anyone noticed how they calculate the loses and gains on the mid price which is gives a totally skewed impression of the real picture given the usually large spreads on these shares.

CE's do provide ample warning of the risks of trading in these shares so I guess no one can grumble that they are misinformed of the risks and have to put the loses down to experience and move on. However they do seem to have backing a loser down to an art form. Or should I say backing a winner in CE's as they get their slice either way.

Has anyone had a positive experience with CE's?

My advice to anyone considering going with CE's is to buy a dart board and a list of AIM stocks. I'd trust the dart to pick me a winner over CE's any day.

Guys
Why doesnt someone start a virtual portfolio.
5 or six of CE picks against a random selection on the dartboard with some throwing a few darts.
I would find the outcome interesting
Stevie

Clover,#
Great post, sorry about the losses.

Stevie,
You throw the darts and I will follow the progress. Take 6 stocks and we will
compare them to the July 2005 equitity market update posted above. Let me know the stocks that the darts have landed on. The easiest way to do it is throw 6 darts at the Ft AIM index sheet.
Crock

I might try that this weekend, I will be in touch unless someone who can do it quicker wants to have a go.
Steve

Crockanure*,

Wow that is some list!

I happen to have received the Jan 2006 CE update.

In it they feature ALD, APA, CET, NMI, OXB, and TEL.

ALD has done ok, +6%, but the rest are either sideways or down slightly.

clover,

well they got LAC wrong!

All the others show their normal rate of consistency though!

A recent comment about boiler rooms from The Daily Reckoning, quoting the Sunday Times.

--------------------------------

I now know, buying an unheard of company, in a very
high risk sector from an untraceable Swiss-based
American is akin to sweeping banknotes into a pile and
putting a match to them.
Today, as investors we have the power of
electronic information at our fingertips and stronger
investor protection laws on our side and yet...le plus
ca change le plus cest la meme chose.

Or, more locally, it appears nothings really changed.

According to the The Sunday Times last week-end,
boiler room share trading operators continue to prey
on the unwary.

The scam has been updated a little but the techniques
remain fundamentally unchanged. From operations often
based offshore (to be outside the reach of UK
regulators), victims are cold-called over the phone.
Sweeteners such as free research reports and discounted
dealing are sometimes dropped in as enticements.
Investee companies are usually small speculative names
that are, of course, just about to hit the big time.

There does appear to be a new twist, though. The Sunday
Times describes the touting of Regulation S shares. A
new one on me, so I did a quick search...and it
certainly looks one to avoid.

The perhaps reassuring legitimacy of the word
Regulation in the name is somewhat misleading. This
is not an investment about abiding by the law but one
of exploiting a loophole within it.

It effectively permits US shares that do not meet
American listing standards, to be flogged to
foreigners. That includes us here in the UK.

Plus this little beauty also comes with a sting in the
tail when you want to sell... they are not freely
tradable shares.

They are prohibited them being traded back in the US
for one year and even then you must pay a US lawyer
to remove the restriction, says the FSA.

For further details click through on the FSA link below:

www.fsa.gov.uk/consumer/01_WARNINGS/protect/shares.html

So if some unknown salesperson clogs your phone line one
day with a little gem of an investment, be sure to
tread carefully.

Of course, financial cons will always be part of life.
Regardless of higher levels of investor information and
protection the golden rule remains.

Caveat Emptor...
buyer beware.

I have just completed the transfer of all my rubbish shares from City Equities to my regular dealing account from where I can begin to offload them (at a heavy loss). I was pretty stunned to get a call from my contact at CE to say they had completed the transfer and that I should now set up a special account. Apparently this would ease the transfer of future crap purchases into my regular account. If I hadn't been so stunned that they had called I would have told him that I planned to dig a big hole in my back garden and throw ten pound notes into it when ever I passed by as I figured that this would be more profitable than staying with CE's.

I have got a few 'Introduce a Friend' flyers from them over the time but haven't yet hit on anyone I hate enough to introduce to them!

Clover,

LOL!

Their auduacity knows no bounds it seems!

I wonder whether CE took NML around Xmas time?

Apparently FSW Europe did, and another broker of a similar ilk, and within days, NML were suspended from AIM, and then delisted a month later!

I wonder how they explained that to their clients?

Clover,

If you are still here, check out the price of Eurasia today!

Pacific Continental have made the news again!


Click HERE!

A. S. W. writes: I was very interested to read about complaints you received against stockbroker Pacific Continental Securities. I also lost a considerable sum through the high-pressure sale by this firm of US Regulation S shares. Until I read your article, I had no idea that such shares could not be sold to Americans. The only restriction stated by the broker was that they could not be traded for 12 months.
The complaints against Pacific Continental - dubbed Britain's riskiest or unluckiest broker by Financial Mail - continue to roll in.

==============================================================

The number of unhappy investors who lost out after being talked into buying shares in high-risk US companies that do not meet American investor protection standards - but under Regulation S can legally be sold to non-Americans - has now reached 70.

The story is always the same. The salesman talks up a storm, predicting great things in return for accepting the one-year lock-in period. But by the time the year is up, the shares have collapsed.



For full story click the link above.

Beware... I just got stung with something I bought from CE in a weak moment...why do I fall for it I ask myself !
couple of weeks ago they phoned me wanting to get me in on IGH...I went in with 1000. @ 5.5p .. now a few weeks later the bid is down to 4p with sells of 3.75p today.. grim or what.. anyway hoepfully IGH will turn good but for now it looks grim !

CE just sold GGG to their clients.

Will be worth watching the price for a while.....

CITY EQUITIES ARE YOUR WORST NIGHTMARE. BY THE TIME THE PENNY DROPPED I WAS WELL STUNG. CONSTANT HARASSMENT EITHER TO BUY SHARES, OR TO SELL YOUR HOLDINGS TO FACILITATE MORE DEALS. RANG ME THREE TIMES WHEN I REFUSED TO BUY, USED PERSUASIVE TACTICS, IE BOILERROOM TO STOP YOU SELLING. THE MAIN PERPETRATOR IS NOW WITH A BOUTIQUE OUTFIT IN CANADA SQUARE. WORST EXPERIENCE OF MY LIFE

ATOTAL BOILERROOM OUTFIT I WAS CONNED BIG TIME

I CANNOT BELIEVE CITY EQUITIES ARE STILL IN BUSINESS, AND HAVE NOT BEEN CLOSED DOWN BY FSA. THEY ARE A CON OUTFIT. SO MANY PEOPLE MUST HAVE BEEN STUNG, THEY SOLD ME CONDOR RESOURSES WHO WERE DOWN 90 PC THE NEXT DAY. ANGEL BIO, GOD ONLY KNOWS HOW OR WHY THEY EXIST, COOLABI SUSPENDED, UNIVISION, JESUS I FEEL SUCH A MUG, AS I WAS A PRETTY GOOD TRADER MYSELF

LUCKY IS NOT MY MIDDLE NAME, FIRST I WAS INVOLVED WITH PACIFIC CONTINENTAL, GOT OUT WITH AN 8 GRAND LOSS BEFORE THEY WENT TO THE WALL, OUT OF THE FRYING PAN INTO THE FIRE WITH CITY EQUITIES, THE MOST DESPICABLE PEOPLE EVER. DO NOT GO NEAR THESE PEOPLE . TOTAL SCAM MERCHANTS. I DIDN,T GO TO THE FSA, BUT I DID PURSUED K SWANN THE MAIN DEALER ON THE INTERNET, SCARED THE SHIT OUT OF HIM, HE,S NOW WITH CENTRAL MARKETS. CAVEAT EMPTOR. SOME OF THE CALLS I HAD FROM HIM BEGGAR BELIEF, I WAS IN A DAZE

DOES ANYONE ACTUALLY KNOW WHO THE DIRECTORS ARE, CE.INNUMERAL COMPLAINTS MUST HAVE BEEN MADE ABOUT THEM TO THE FSA.. FOR TOP CLASS RESEARCH ,FARADAY AND SHAREWATCH UK ARE SUPERB, FARADAY,S LAST TIP SCANCELL ARE UP 450 PC. I SHOULD HAVE MADE A MILLION OUT OF SHAREWATCH UK BUT I WAS DEALING WITH A DUMB IRISH STOCKBROKER, OR MUPPET

ACTUALLY VERY FUNNY HAHA, THEY ACTUALY MADE A PROFIT ON A STOCK BUT SWANN CAME ON WITH HIS SPIFFLE ABOUT CONDOR RESOURCES, SAYING I,LL GIVE YOU 300 QUID FOR XMAS ABOUT 6 OR 7 TIMES. CONDOR WERE DOWN 90 PC THE NEXT DAY. BUT WHO ARE THE REAL PERPETRATORS OF THIS SCAM OUTFIT?. NAME AND SHAME IS ALWAYS THE BEST

KEITH SWANN IS NOW WITH CENTRAL MARKETS , AMERICA HOUSE CANADA SQUARE. SWANN WAS THE BIGGEST PERPETRATOR OF SCAMS EVER, A NATURAL. RUTHLESS EXPLOITER OF TRUST AND HONOUR. BUT WHY ACT LIKE THAT, INEXPLICABLE, HAVING A DESIRE TO DO YOUR CLIENTS. HOW THEY STILL EXIST AMAZES ME.

to be actually dedicated to dishonesty and deceit. amazing

I hear the libel lawyers rustling their briefs.

Haven't you complained to the FSA?