- Report: #490867
Complaint Review: DB Management Dan Brown Colin Smith - Fort Lauderdale Florida
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DB Management Dan Brown Colin Smith
www.learn2trade4xcom & greenstreetadvantage.com Fort Lauderdale, 33308 Florida, United States of America
Phone:
8667884639
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DB Management - Dan Brown - Colin Smith - GreenStreet Assets Precious Metals Con Men Fort Lauderdale, Florida
Beware of precious metals "brokers". Broker implies regulation. These people are no more regulated than a jewerly store.
Some of the precious metals sales people are honest but due to not being regulated you just have to hope the individual you are doing business with is honest.
D B Management is the worst of the bad ones. They are charging excessive commissions that you are not aware of up front. They don't want you to know up front or no one would do business with them. They buy as soon as they get your money, not when the market timing is right. They take a 15% commission up front that they don't tell you about.
They do not furnish verification that they actaually purchased silver other than a "trade verification" that anybody could generate. The legitimate dealers send a Commodity Transfer Notice indicating where the silver is deposited.
They supposedly "manage" your account but they do not send statements indicating the value of your account. If the market goes against you, they do not sell your position and limit your losses but they let your "account" go into an equity call and then liquidate your position. "Account" being in quotes because you never get a statement with an account number. I don''t think they ever actually purchase silver but wait for the market to go against you and then liquidate your account and keep the money.
Do not do business with DB Management. You have a better chance in Las Vegas.
1 Updates & Rebuttals
peto of verum
Morehead City,North Carolina,
USA
DB Management, GreenStreet Assets, Dan Brown, Colin Smith, Dan Kannaly, John Markum
#2
Sun, September 06, 2009
Beware of precious metals "brokers". Broker implies regulation. These people are no more regulated than a jewerly store.
Some of the precious metals sales people are honest but due to there being no regulation of the business, you just have to hope the individual you are doing business with is honest.
D B Management is the worst of the bad ones. They charge a 15% commissions up front that the customer is not aware of. They don't want you to know or no one would do business with them. They get their commission as soon as they enter the market. Therefore, they buy as soon as they get your money, not when the market timing is right. They do not furnish verification that they actually purchased silver other than a "trade verification" that anybody could generate. The legitimate dealers send a Commodity Transfer Notice indicating where the silver is deposited. They supposedly "manage" your account but they do not send statements indicating the value of your account. If the market goes against you, they do not sell your position and limit your losses but they let your "account" go into an equity or margin call and then liquidate your position without notifying you. "Account" being in quotes because you never get a statement with an account number.
I don''t think they ever actually purchase silver but wait for the market to go against you and then liquidate your account and keep the money. The practice is widespread in Florida and should be stopped. Do not do business with DB Management. You have a better chance in Las Vegas. I am filing a law suit based on consumer fraud. I would welcome other plaintiffs in the suit. These guys need to be stopped.
