LFCE (Luxemburg Futures and Commodities Exchange) and Kohler Commodities - Check very well before investing
I am writing this page in order to warn people from investing with so called investment houses that got to you by phone call (cold calling).
I had the fortune to be suspicious enough to check and double check, and luckily I took my time, otherwise I would have been separated from a large amount of hard earned cash.
Here's the scenario:
You receive a phone call from a broker, informing you about an opportunity to invest in a good opportunity, as there is going to be a major shift in the market/a jump in a stock's value/a drop in a commodity (gold, silver etc') and if you invest via their service you can gain hundreds of % in profit.
Now pay attention - they say they are not the ones that handle the money - you do!
You are not transferring the funds to the investment firm - you are opening an account with the exchange itself and they will provide you with a trading platform.
Just download the registration form and send it to the exchange's email address.
The "broker" that called me (sorry - an "account manager") had an interesting British accent (he said it's welsh, but I couldn't help but noticing a slight eastern European influence).
He gave me a forecast for Gold for the next couple of weeks (gold prices will fall, than there will be an increase, and we want to catch that one) - options have expired that week, and lo and behold - it did happen! What do you think the reaction to that would be? credibility boost!
Still, I felt a bit uncomfortable...
I have checked the websites that were involved, looked for people registered in the domain name registry, and found out the following:
Kohler commodities' domain was registered 14th August 2011 (a week before they have contacted me, but they claimed to be in business for 7 years)
The LFCE.eu website was registered on 7th August 2011.
I have also found another copy of the website, positioned as the Brussels commodities exchange. It seems this system is duplicated over and over.
All in all, too many little details that do not match!
Some companies do business using cold calling, but I urge you to double check each and every such offer - especially those that are trying to come between you and your money.
And remember - if it is too god to be true, it probably is!!!
Let me know what you think - write it down in the comment section.
Wishing you well
P.S - under this section you'll find some screen captures I've made of the websites involved and the details I have searched for - esp. the domain information.
Kohler Commodities was featured also on an Australian government website as fraudulent unlicensed body. Here's the link: