Hello,
I have been reading all about the battle of internet coverage between WBFI and this Micheal bloke and although I am not agreeing with anything that has been said I will say of my experience with Judi Jackson.
I can't remember the exact date but it all started from a phone call back early this year, between February and April. Judi called me out of the blue talking to me about investing in bullion.
She was asking for a minimum investment of £7500. I had been saving up this money for years and had intended to start up my own business with it so was quite wary of investing it. However after talking with Judi at some length, she convinced me that my money would be safe for the
30 days she proposed it would make some sort of return.
Now I know I was very naive and should realise that it sounded too good to be true but she wasn't talking about 100% returns. As I had no knowledge of this market and repeatedly asked her if I would be safe I decided to invest.
What a big mistake.
A weeks later the price of gold (which is the 1st stock I bought) had gone up and there was some profit in the account. I had a call from Judi who suggested I buy Palladium with the profit. As she had seemingly done fine so far I agreed. Over the course of the next two weeks both stocks plummetted leaving me in margin call. I was quite shocked at this as from the start Judi had told me she would trade safe with me and we would get out if it was falling hard.
I even called Judi before I got into margin asking about the fall and she told me it was all the big investors selling (Why we werent selling is anyones guess). Once I hit margin Judi asked me for another £1500. However the stocks just kept falling.
I then got an email telling me my initial investment of £7500, now had been sold and I was left with nothing except fot the £1500 sitting in my account. I was close to tears. That night I didn't get any sleep as I realised how stupid I had been trusting someone with my life savings.
Then after talking to Judi she convinced me to buy silver with the £1500 left on the account. She told me something along the lines of 'They are looking in developing techniques to replace platinum with silver and if that works the cost will go from $16 to $1000+'
I was a bit desperate now so let her buy silver with it. Lo an behold the market went down again. I am not blaming Judi for the market falls but she didn't provide me with any protection. For example I bought silver at $18.10 and at one point it rose to $19. Now if we were safe investing wouldn't it have been an idea to put a stop loss on at $18.10? so if the price went back, under my purchase price, my bullion would have been automatically sold and I could have got back into the market at a lower rate?
Anyway suffice to say I lost that £1500 too. Now I had lost £9000 in less than a year.
I rang Judi to talk about all this. The fact that she never made me realise that I could lose all my money, even though she insists she did. Yes I should have done more research but I trusted her as she was about my mums age and said she would look after me.
What really sticks in my throat is the fact she charged me 15% commission on my initial trade as a lifetime fee. I rang a UK broker (which is what I should of done after the initial phone call) I was told I would be charged 1% per trade. So seeing as Judi only traded for me 3 times I should deserve some refund of commission surely?
Well having been recently made redundant from work I don't have any money coming in and I asked e-mailed Judi asking for a small refund of commission.
To this day I am still waiting.
This is just a warning for anyone contacted by Judi Jackson. Please ring around some other brokers first and do your research. Leveraged investments can do very well but are also very volatile. Don't listen to any promises of the markets going up as Judi doesn't control them.
It just so happens if I had given her some more money for the last margin call I would have lost that too checking the price today!!