Tonight on 7.30: Customers claim they were lured into foreign exchange trading and lost hundreds of thousands of dollars. abc730 michaelatkin
abc.net.au/news/customers-claim-lured-into-foreign-exchange-trading-tradefred/101755610Former customers of an Australian company claim they were lured into the high-risk world of foreign exchange trading under false pretences and subjected to high-pressure sales tactics which contributed to them losing huge sums.
The men believe Australia's corporate regulator ASIC was too slow to intervene to stop TradeFred, and fear they're unlikely to get their money back after the Australian operations went bust.or contact him via the Signal secure messaging app +61 447 279 901. He says had he known TradeFred could have been making money when he was losing, he never would have signed up.He's lodged a claim for losses he estimates are over $140,000.
The recordings reveal that on the first call with TradeFred the sales consultant said to Mr Goddard, "I understand you're looking to extend your income, maybe thinking about the future, retirement, stuff like that?"Adrian Goddard was initially interested in trading Bitcoin but says he was convinced to trade foreign currencies.
"They would basically tell me what to do, tell me what to trade on, and I kept saying to them, 'Look, I've got no idea what I'm doing here, I don't understand the markets,'" Mr Goddard said.Geoff Moodie also signed up after seeing what he believes could be the same social media ad Mr Goddard saw. "They were able to change my thought pattern from Bitcoin to forex, as they call it, without me realising it, or questioning. I thought maybe the Bitcoin would come at a later date, so, you know, I was very naive at that stage," he said.
According to Mr Goddard, sales reps would make sure he was logged in to the software before showing him exactly what to trade on his screen.
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