After I signed up on FastCash.biz, I received a phone call from someone at Glenridge Capital letting me know they are my broker. I wanted to start my account at $250, but I was told the minimum is $500. I made the deposit, and shortly after received a call from a person who said they were my account representative. He told me not to waste my time trading on the fast cash site, as it doesn't work. He told me he would take care of me after I explained I'm permanently disabled and have very little savings. He promised he would make me a lot of money. The first thing he did was talk me into depositing my life savings of $20,000. For that, he said I would qualify for a bonus. I received the bonus and was emailed papers to print out and sign, then send back. Once this was done, he started hyping me up to invest into Disney because it's guaranteed because if it doesn't pay you, you then get your money back. So since it was guaranteed, I can't lose. Then I'm talked into putting the bulk of the remaining money in crude oil. That was two months ago. He calls me to give me information on small trades, most of them lose. During this time I get curious and start looking over the papers he had me sign. At this point I realize the bonus he gave me of $5400 would require me to make trades over $300,000.
I start inquiring and he tells me not to worry and that I’ll do that in no time at all. Shortly before Christmas, I receive a call from someone that says they're my account representative supervisor, and that they want to help me out because they realize my investments are going to fail. If I put another $5000 into my account they will put a guarantee on the crude oil so I get the $5000 back that I initially invested. I informed him that his account rep had wiped out all my savings with the other investments and I had nothing else. I then informed him that I am struggling because of all the money I was talked into depositing resulted in me having trouble buying groceries. He assured me everything would be OK and they would start working with me after I got the money reimbursed for Disney.
First Disney fails and I didn't get the $20,000 back in my account that I put up, it takes a week and over 10 phone calls and he put in $19,000 as another bonus today. Then yesterday, the crude oil also failed bring it to a total of $25,000 that’s now gone. So now with these so-called bonuses I need to make over $550,000 in trades before I can access my account to make a withdrawal.
Almost every time my account rep said he was going to call, he didn’t. Do not under any circumstances trust these people, they will take everything you have and not give a second thought to the lives they destroy, because they get paid even if you lose. Names not included to protect the guilty. I hope this helps someone so they don't get scammed like I was!
Bottom Line: No, I would not recommend this to a friend
Lack of knowledge got me in some similar situation with Glenridge Capital. I was talked into depositing 1000 instead of the 250 advertised. Two lost trades later I stopped everything because I was promised that the first 5 trades will be a win. So I requested a complete withdraw of the 950 left. 3 weeks later they credited my bank account with 775 dollars. They charged me 175 dollars in service fees. Boy did I learn my lesson.