Invest in Gold - Big Profit
Potential, Not Futures or Options,
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www.CapitalAssetCommodities.com

Google Sponsored Link
If you search Google.com for the single word "Gold", one ot the top sponsored links is from Capital Asset Financial Services Ltd.
Wondering who they were, we performed a Google search for their UK telephone code, 0124, as shown on the default page of their website, actually it is shown as 0124 529 1367. We got no meaningful results, which made us a little suspicious. Then we tried a search for their entire UK telephone number 01245 291367. Kelly Search shows

Capital Asset Financial Services
Address
5th Floor Cater House
High Street
Chelmsford
CM1 1AL
United Kingdom
Contact Details
Tel: (01245) 291367
Fax:
http://www.cafsonline.com
Products and Services for Capital Asset Financial Services
1 - 1 of 1 result
Precious Metals

Poor Website Design?
Whoever authored their website appears not to know or care much about UK telephone numbers, or the way they are formatted. Presumably the page containing the Chelmsford telephone number was American, and has formatted it to look like a US telephone number. The dialling code for Chelmsford is 01245. Interestingly, the "Office Locations" page of their website shows their Chelmsford telephone number as +44 (0)12 4529 1367. This makes us think that the site was designed to impress by its style rather than the accuracy of its contents.

According to the BBC Website:

31 January 2006 Please note there are a number of companies with a similar name, but the 'Capital Asset' featured on Watchdog pertains to Capital Asset Financial Services Ltd based in High Street Chelmsford. Capital Asset Financial Services Ltd is a cold-caller with a difference. Its commodities brokers will boast that it's a 'global market leader' when it comes to buying and selling precious metals, such as gold and silver. The company has offices across the UK, in America, Switzerland and Spain. It traded over £250 million last year and it wants to help you be a part of it. How? Well you're persuaded to put in, for example, £10,000. The company says it will offer 'leverage' and put in another £40,000 on top. Suddenly you've got the chance to make a big profit or should that be loss? The reality is that you've just bought a very expensive loan and you're paying fees on the whole amount, even on your own money. Before you even start, its charges could have swallowed up about half of your £10,000 and your cash may continue to shrink on a daily basis. William McKendrick and Jan Lengyel were persuaded to invest in metals and take the company's 'leverage' scheme. Both men told Watchdog that the charges weren't properly explained to them. "Their charges were structured in such a manner that they were baffling, to say the least," said Jan, who invested £5,000 in palladium. "The moment that position [on palladium] was opened things went from bad to worse. And in a ten-working-day period I lost a substantial amount of money." Unfortunately for Lengyel the price of palladium plummeted. So, could his experience be down to nothing more than bad advice? Well McKendrick also invested about £5,000 in gold. Despite the fact that the value of gold was rising - his money was disappearing: "I was putting more money into Capital Asset Financial Services and not realising any profit. That's when I became really angry." Investment manager Justin Urquart-Stewart had a look at McKendrick's deal with Capital Asset Financial Services Ltd and said: "In order to make money here, you're going to have to see huge movements in the prices of what it's actually providing in terms of the metals and the currencies and things like that - and frankly even as an institution, you'd struggle to make money on those sort of things. As a private investor, I don't think you've got a hope." We put that to the test and sent in an undercover reporter with no financial qualifications for an interview with Capital Asset Financial Services Ltd. He was interviewed by Toby Otton who runs the UK operation. He made it clear that despite the title of 'commodity brokers', they were basically salesmen: "You bring money in, I love you. I'll take you out for a drink, blah blah blah. You don't, you're out." He also seemed unfazed by regulations: "I don't want people lying, but as far as I'm concerned compliance shouldn't stop you. Compliance isn't an issue to me." That's because Capital Asset Financial Services Ltd isn't regulated by the Financial Services Authority. This means if you're ripped off, you've no one to complain to. Last but not least he had no doubts as to who gets rich with Capital Asset Financial Services Ltd: "The company makes money regardless of how it works out." Click here for a statement from Capital Asset Financial Services Ltd. (See Below)

Statement from Capital Asset Financial Services Ltd

31 January 2006
"Several years ago the Financial Services Authority (FSA) determined that the products and/or services provided by Capital Asset Financial Services Ltd/Capital Asset Trading do not fit in with their definition of an investment. Providing advice in connection with these products does not bring the company within the FSA's jurisdiction. Were the FSA to advise the company to register and become members, we would be delighted to do so.
"A customer has to sign a written acknowledgement that they understand all the risk disclosures in the customer agreement before opening an account. During taped recordings of every customer's first transaction, the customer has to acknowledge that they have received and understood the risk disclosure for the transaction to proceed. This follows a carefully drafted compliance script and the process is handled by compliance staff. Our brokers are trained never to exaggerate the profit potential of the products we offer. However, we have many customers who have profited by more than 100 per cent in a three-month period.
"However, Capital Asset Financial Services Ltd is regulated: in the UK, Capital Asset Financial Services Ltd is regulated by the Department for Trade & Industry. In the US, our sister companies are regulated by the California State Attorney Generals Office and the Federal Trade Commission.
"Each and every trade carried out by Capital Asset Financial Services Ltd must be initiated and authorised by our clients, and this process is tape-recorded. Capital Asset Financial Services Ltd also employs a corporate lawyer and a full-time compliance director to address customer concerns.
"The relatively few customers who have complained have done so either to the DTI or directly to Capital Asset Financial Services Ltd, or their 'introducing broker'.
"In addition, customers have the contractual right to file arbitration claims in the UK. Those who have complained to Capital Asset Financial Services Ltd have received fair treatment and adjustments where appropriate.
"Capital Asset companies have been in business since 1996. During that time only one lawsuit was filed - against a now defunct broking company. It was dismissed and none have ever been filed against us or any 'introducing brokers'.
"All our brokers maintain routine business hours every working day of the year and are easily contacted. In addition to which, any investor can easily contact our UK Administrative Offices in Chelmsford, and the numbers for this office are clearly set out in both our brochure and on our website.
"Capital Asset Trading acquires large units of physical commodities from several international commodity dealers, including FSA members, and sells smaller amounts to individual speculators.
"Capital Asset Financial Services Ltd receives confirmation statements and invoices reflecting warrant ownership from its suppliers. Warrants which set forth the depository are in the name of Capital Asset Trading and not the customer. The customer usually purchases a smaller amount of the commodity that Capital Asset Trading acquires and they are sent a confirmation statement within 24 hours of the transaction. Our suppliers do not deal with customers, they deal directly with Capital Asset Trading. We disclose our suppliers to the regulators but have agreed to maintain their confidentiality from customers.
"We think that our 'break even' points are realistic. Hundreds of Capital Asset Financial Services Ltd customers have made profitable transactions.
"The London Metal Exchange is not necessarily likely to be aware of Capital Asset Financial Services Ltd/Capital Asset Trading as we are not exchange members and do not acquire our commodities through the use of exchange traded futures or options. We acquire physical commodities directly from exchange members and other merchants in the UK, US and Singapore. Due to their large number of customers all around the world, it is not surprising if we are not immediately familiar to the UK exchange.
"As with every brokerage firm in the investment industry Capital Asset Financial Services Ltd is compensated in interest charged on loans, not through market movement. We believe that our clients have done better than the average speculator in the futures market."

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