Saturday 15 October 2016

The Voice - Consumer's Voice

Is the Gemini app a scam?

Could you please find me more information about Gemini App which I found in the website claiming to be turning people into millionaires instantly.... is it genuine or it's just another scam?

Thank You.

From what I can establish, Gemini is a piece of software that its producers say will trade online for you. Their promotional video makes a range of remarkable claims, including that it is “no loss trading software”, that you can use it “without a single losing trade”, that “it trades 100% by itself” and that “zero experience is required” in order to use it.

First things first. Online trading is a very good way to lose lots of money very quickly indeed. Whether it’s stocks and shares or the foreign currency markets, your money can grow but it can also shrink. Remarkably quickly.

Another thing about the markets that these people will neglect to tell you is who you are competing against. Yes, it IS a competition, particularly in the forex market. Do you really think you can beat the world-class experts that are employed by banks and investment companies? These companies seek out mathematical geniuses from universities around the world to help them develop the algorithms that their supercomputers then use to trade on their behalf. I don’t mean to be insulting but what makes you think you or I can beat these experts at their game?

You also have to ask yourself why the people behind an online trading scheme would want to share it with total stranger like us? If this scheme really is a “no loss trading software”, why aren’t they keeping it to themselves? What possible benefit is there to these guys from including us in their scheme? It’s obvious really. What they want is your money. They make money from you “investing” your hard-earned savings in their scheme.

That’s the lesson you should ask every time someone suggests you join a scheme like this one. Why would they want to share their secret with you? How do they benefit? Until you get a good answer to that question you should keep your money safely where it is right now.

Are online directories worth the money?

I would like to ask you about Yellow Business Directory, this is a company that is based in South Africa and they are getting Botswana Companies to advertise with them, My question and concern is that I am sure that they do not have a resident company within Botswana and they are raising their invoices in BWP Currency, when I asked the lady in the mail as she phoned me to ask if we will be advertising with them about the matter she dropped the phone.

I then called back and asked her about the matter again and she told me that they invoice in Pula because it our currency.

The reason why I send you this is because I am not sure how legal this is, maybe something to look into.

We’ve had many complaints over the years about companies running online directory services and they’ve been a very dubious group. Others have had very shady business practices, offering to “update” entries in their database, only to send over an invoice like yours claiming that the original “update” was a binding contract.

However, I’m not sure anything here is illegal but I wonder whether it makes any sense. The invoice from them that you sent was for a staggering P6,995 for a year in their online directory. How can they possibly justify that amount of money? The company you mention do actually have an online directory but I can’t see that it offers any business any real benefit, certainly not for the amount they charge. You’d be better off spending that money on getting a web developer to design you a nice web site and then people can find you on Google.

In your case (this guy runs a hotel) you certainly don’t need this company’s services. Keep working your reviews on Tripadvisor!

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