I'm trying to determine if the Wellington Trading Group is a legitimate entity. Here is the scoop... I was contact by a broker from WTG by phone encouraging me to by option contracts for heating oil...the market information provided was accurate. However, there were some red flags that make me thing twice about this 1) broker cold calling me 2) they are based out of Costa Rica, 3) would have to do a bank wire transfer through two banks, ending up in Netherlands Antilles, 4) Crude looking internet site at http://www.wellingtoncr.com/, 5) Web page does not provide information re: corporate structure or management 6) Talked to several other brokers, non of which have heard of this group, 7) Internet searches bring up lots of links but they are all empty with no content / no information. I can't find anything about this copy either identifying it as a scam or as legit. Help please, anyone. thanks.
Doesn't exactly reek of legitimacy does it? Here is a link to the scripts used by groups that were operating out of Thailand. Might want to ask yourself if any of this sounds familiar. http://www.sec.or.th/en/educate/alert/boiler/trouble.shtml Alternatively, if anyone is thinking of starting a boiler room scam the SEC have very helpfully provided a full list of scripts and answers to objections. A starter kit if you like.