Global Bullion Exchange LLC
Deceptive

I too was ripped off by Global. They talk you into rising metal prices, but present as if they are buying physical metal on your behalf, holding it in a vault and will call if some should be sold.

I beleive what they actually do is trade in paper only on the futures exchange, obtain cash from investors, and then explain losses as margin calls.

They may even be taking the counter trade in a futures position - betting silver will go down while telling clients it will always go up. They seem to go through crazy times when they have to find new clients and you will get calls even if you already have an acct.

They charge very hight fees 15% up front - probably because they realize most will get sick of them and close the accounts.

Lately, since all of their phone numbers have changed, (not just a relocation), I got a call from Joseph Paniello threatening to sue me for not following through with a taped commitment to trade. I mentioned April 12, which was the original call when I did commit, and then I did send money, and had the account. But his called made it sound like I commited to 5 times as much and that I never sent the money.

Thats another trick. They get you on the phone, and just want you to "let them hold some for you". Then the start taping you, and that turns into a legal commitment to follow through. Most investors wouldn't realize this.
They then call and tell you its like ordering a meal at the restaurant - you can't change your mind and not pay.

Company: Global Bullion Exchange LLC
Country: USA
State: Florida
City: Tampa

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