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I do not have any experience with this company. If you do, please kindly submit your review.
slib, North Carolina
Rating:
No Rating
Date of Post:
2008-12-29
Review:
For all those out there that have been a victim of the Global One Group's scam, a new Blog site has been established to begin collecting stories and complaints: http://global-one-group-scam.blogspot.com/
Robert, Bangkok
Rating:
Date of Post:
2008-12-05
Review:
Below you can see my request for money owed and G1's reply. They are not even signing the email with a name anymore. They require that I log on and accept their new terms & conditions which I won't and which is just another way for them to stall everything..
How can we proceed with legal action? Can someone start a list with names of people who has been scammed by these people and let's do something about this.
-------- Original Message --------
Subject: Re: Global One 2nd Quarter Update 2008
From: Robban
To: 'Global One Group'
Date: Sun May 11 2008 22:47:51 GMT-0600 (Mountain Daylight Time)
When will the money promised be returned?
/Robert, Thailand
From: Global One Support [mailto:support@globalonegroup.net]
Sent: den 13 maj 2008 20:23
To: xxxxxxxxxxx
Subject: Log On Request
Robert,
Over the past several months, there have been many news bulletins posted on the web site along with some additional changes. Support needs you to log on to the web site, read and accept the membership and non-disclosure agreements, verify & update your contact information and review all the recent updates. This is the best way your email can be answered, with an update as to what is going on so you know we are working toward being able to restore losses in accounts. At this time we do not have a time-table.
Thank you in advance for your cooperation and understanding in this endeavor.
Blessings!
Global One Support
2008-07-25 1 Star Has anyone taken action to file any complaints towards Globalone? They have promised for 2 years to pay back the money they lost but I have still not seen a penny!! Always excuses and saying this and that...
Time to do something about it!!
John Greer, Iowa
Rating:
Date of Post:
2008-10-12
Review:
I have been reading these comments for a couple of years without ever making any comments on any service in the Forex industry and finally have to speak up for Global One Group{G1}. This area is for reviews that are about training so I will limit this comment to that subject. Please realize that I am not a professional trader and that my experience is based on the last 5 years of trading my live accounts. I have made all of the common mistakes that novice traders make and then some. I have blown up real accounts when first starting and have come back to make some serious pips since those former days. During this time I have also subscribed to a variety of Forex services or purchased thousands of dollars of software to the following: Forex Made Easy,FX Trainer, Felix's Forex Diamonds, Forex Confidental, Compass Foreign Exchange, Steve Nison's Profiting in Forex, and Global One{G1}.
I have followed Rick Young {G1 CEO} for about the last four years and have probably been on 95% of his training calls. His progression and developement of the charts have been sensational. These charts provided by G1 are by far the best you can get for an individual with limited resources {time and money}. Their cost is very modest compared to other services {1000/year] and yet provide just about anything most traders need. They are easy to use for beginners with the MetaTrader Platform and have all the capabilities necessary for the most advanced traders. G1 is continually updating their charts with new additions and adjusting them to today enviroment.
G1 has training sessions included in the cost of the charts which are very informative and lively. These sessions are geared predominantly for the novice trader. There are presently 4-5 sessions per week and there are plans to expand the number and type of training sessions. This is one area which I would like to see improvements so that all levels of traders can become more actively invovled in the training sessions.
Rick Young definitely has his own style of trading which might not be for everyone but once learned you can proceed on your own. I wish that I would have had these charts and training sessions available to me when I first started for it would have saved me thousands of dollars in Forex software,services, and trading losses. G1 has a grand plan as an education company to help educate traders all over the world. If not for some financial problems caused by other companies I am sure that they would have thousands of traders using their charts and training sessions.This is a honest company that has a passion for the Forex arena and how to successfully navigate through its complexity. I would highly recommend G1 as an educational company for Forex trading and would especially suggest any newbee to give them a try.
Paul Smith, San Carlos, California
Rating:
Date of Post:
2008-10-08
Review:
I am a current member of G 1 and have been since the very early days. It is true that the loan program has not yet panned out as expected, but that is due to a succession of circumstances out of their control. Global One have operated with upmost integrity and honesty and not tried to hide anything. They have replenished my funds in the auto trader that got lost, only to have them disappear again when the broker got closed down. There have been a succession of like situations up to this time. I do believe that all will turn out just as intended, or better. Rick Young is an honorable man at the helm, who has my trust. I am not worried about a thing !
Ron, Iowa
Rating:
Date of Post:
2008-10-08
Review:
My request as submitted last January:
To Whom It May Concern:
When first asked to send money for a start up loan, I believed this would be a business opportunity with future returns on my money. Since I have a full time job and then some, I do not take advantage of, nor do I plan to use the charts that this company distributes for membership use. With that being said, I see no reason to send more membership fees for a distributed charting system that I do not use.
I would rather see my original monies, minus any returns, returned to me at full value and take this as a lost opportunity to me. This would also mean that you “barrowed” my monies interest free for one year. Not a bad interest rate.
Thank you for this consideration.
G1G response in May of 08:
Hi , Ron
Well here it is the second quarter of the year and time for another over all state of the company report.
Because of the continued delays in the establishment of Bill Willard’s company “Endwert” Global One (G1) has moved forward in setting up an IB agreement with Varengold Bank in Hamburg Germany. We now have an IB agreement in place with Varengold. We have posted a news bulletin on the web site notifying the members that we can now set up accounts at Varengold. There are two types of accounts that can be set up, self traded accounts and managed accounts. The managed accounts are different than the automated accounts we have had with other brokerages. The automated accounts were operated by a computerized system that was monitored by the technical staff. Due to the current market volatility the automated system is not performing up to our expectations especially for the smaller accounts. With the drastic swings in the current market environment a person would need an account not any smaller than $25,000. That size account requirement would take most of smaller members out of the picture. We will not be utilizing auto traders until the market is better suited for that type of trading scenario. In place of the automated system we will be instituting the managed account. In the managed account Rick will be overseeing all the trading that is being done. We have always said, “a good set of eyes and experience will out perform an automated system any day.” Our expectations are very high for the managed account. Rick has been trading with a managed account scenario (in Demo mode) for over a month now and the results are spectacular. We are very excited to be able to offer both the self traded accounts and the managed accounts through Varengold. We have established a minimum to open a managed account at $2,000.00, however that is only applicable until June 1st when the minimum will go up to $5000.00. The reason we are requiring the accounts be at least $5000 is because Varengold’s minimum lot size is $2. At $2 lots the small accounts could risk margining out if things turned even slightly against the trade. The margin is very difficult to manage properly when the accounts get to small. There are other options being considered for the small accounts. We will update those options as they become available. As of the date of this email the live managed account is up 3% in less than a week of trading.
It goes with out saying that as soon as Endwert is up and running we will also be closely connected with all options available through them. Once again we well all have to go through the process of filling out account applications and shipping them off to Varengold and Endwert (when they are up). The support staff has worked feverishly to produce a letter of instruction to walk you through the application process so that it is the most efficient least stressful exercise it can be.
We are continuing to move ahead in China. G1 Asia could not open the China operation until we had a place for them to trade. With the IB agreements with Varengold in place China will be able to use their systems as well. We are expecting great things from the China operation. We do have some additional translation to be completed on the web site, the next thing to do is a marketing campaign and we are ready to go.
In closing let me say that our goal is to get a monthly email out to all members to do a better job of keeping you all informed as to the progress of the company. Just a reminder, drop in on our morning webinars, Tues. Thurs. Fri., come watch the excitement, join the crowd, find out what is happening, things are getting exciting!!
You can also view this email on our web site in the News Section.
Blessings Walt,
Admin/Support
I feel the same as Slib, return my monies and I too will be happy. Until that happens, I believe this is a SCAM.
slib, North Carolina
Rating:
Date of Post:
2008-10-07
Review:
Hello Mr. Martin,
Interesting that you should offer as an example the issue of Global One making members whole through glitches with other FCM's. That actually is the same situation I have refenced in my previous postings. I know several members that were in the position you identified in your last posting- and NONE of them have been made whole. So unless you or other members you know have some secret handshake that my constituent G1 members don't know, I would say you're lying- because the implications that you're being truthful would suggest that G1 favors some members over others, and thus is being untruthful to those that did not enjoy the benefits you speak of.
I joined a s a memebr of G1 because of the autotrac program and the abilities to generate successful trades. A platform that was to produce monies to repay the loans members such as myself had made them. It was going to be so huge, the hedge funds were going to be chomping at the bit to be involved in. Instead it is a dead- and not mentioned issue any longer. What training calls I did particiapte in were full of arrogant diatribes by Rick "Pip Daddy" as to why it always was others' fault as to why the autotrac system was not up and running. Even brow beating any member that might ask "too many" questions- as Jeff/Illinois had identified in earlier postings to this Blog site. We were told if was unscrupulous companies taking advantage of us. Of particular interest- and an answer that has never been addressed by Rick, Walt, or Dan is just what happened to Bill Willard and the Endvert paltform that months ago was going to be up and running the autotrac system. He's just mysteriously vanished off the radar screen- probably with a little cash in his pocket. There are no further notices or references to him or the autotrac system in any calls. Do they actually believe there are those of us out there that are not paying attention to this? Additionally let's talk about the China market G1 was supposedly opening up. Mysteriously, there was never any information on the website about this program- only a request from Walt for members to put forth testimonials for G1's use. Never a website- in Chinese or otherwise- on the big expansion of G1- just talk that somehow its members just needed to take their word on- talk that now is not even mentioned- gone the same way as Bill and "Endvert".
As far as questioning my ability to "ask" for my loan to G1 be refunded, I'm quite capable of doing so, and have. They have ignored the request. Only to offer their insistence that they "want" to return my money- but no commitment as to when and how that would happen. This is actually happening to many members now that have become disallusioned with the legitimacy of this company of "christians"- as there are many out there that have indicated the same story as mine privately. Hey, though, if you have some pull with management, could you ask them just to return all the money to those who have requested it?! I know myself and many like me would begarteful for your effort. Perhaps you could give Rick and Walt a call yourself and ask them why they ignore our requests?
This company has lost all credibility with a large portion of their members based on false claims, arrogant blather, and non performance. Loan payments that were to be made to members loaning the organization money ceased over a year ago. Promises and grandiose statements by Mr Pip Daddy do not carry any wait. The newest FCM G1 is hitching their wagon to and encouraging members to enroll in is being met with extreme skepticism by those members I have communications with.
If this company was actually interested in honesty and integrity based on their "christian" refences in teleconferences and correspondence- I would not be writing about them here.
Once again, if there is anyone out there considering joining this organization, I would urge you to throw your $2000 membership and investment money to the four winds- these people in my opinion are common criminals intent upon bilking innocent people out of as much money as they can. And as long as they continue to elect not to return the money they owe me- or any other G1 member that have requested their loaned money back- I will continue to post blogs on web sites that call attention to the unscrupulous enterprises of Rick Young, Walter Scotsen ,et al.
Ted Martin, Phoenix, Arizona
Rating:
No Rating
Date of Post:
2008-10-04
Review:
Mr. Slib:
I will give you an example of how Global One has given more than promised. As a participant in Global One, I have seen numerous members who have received far more out of Global One than was ever put into the program. When external factors have caused glitches with the FCM's, Global One stepped up and made members whole, even when it was through no fault or control of Global One. This is giving more than promised, more than required and perhaps more than G1 should, because it has apparently created an extremely high expectation. Perhaps one of the experiences were members who believed that they would be made whole when they lost monies in the trading system.
I think we all as traders understand that there is a risk of loss in fx and that G1 cannot be expected to make every person whole any more than Merrill Lynch can be expected to make every stock trader whole due to fluctuations in the market or the government will make banks and everybody else whole for making stupid loans and investments (OK maybe the latter was a bad example). If this has not been your experience, then I respect your experience. And I appreciate your most recent post that you are not criticizing those of us who have good experiences with the Company. I am sorry if I came across as attacking you but many of us are protective of a company that we believe has been so positive and so fair with us, perhaps "too fair" if people expected to be made whole for losses caused by third parties and participation in the market.
You have indicated that you want your phase monies placed with G1 back and that it is not any other member's business as to who you are. As you know, G1 is a community of members, many of whom are quite pleased with the system. If you do not want to be part of us, we do not want you to be part of us. The mechanism to verify your claims is pretty simple: tell G1 who you are and present your request for your monies back and see if G1 responds. If you think you did this, fair enough. I might ask again. I do not have access to your account or who you are and I do not necessarily want to "verify" your claims. In the training sessions, I do not recall a member named "Slib." If G1 has a member named "Slib" then it will be easy for the Customer Service staff to figure out and address the claims. And you know that the squeeky wheel either gets the grease or gets taken off of the bicycle. You have indicated that G1 can make you a very happy former member; sounds like at least half of that will make G1 and many of its members happy also.
You have asked why is it that G1 has begun promising cash to members referring new members to the organization, but refuses to refund monies to those like myself that loaned them money? Well the first part of your post I can vouch as being accurate: there is a referral system that has been in place (with tweeks) for a long time. New business and happy members for G1 is good for their business. As we have discussed above, I question the second half as true. Nonetheless, I stand by my post and know that you stand behind yours, one happy and one unhappy. I wish you the best in resolving whatever issues you might be having with G1.
slib, North Carolina
Rating:
No Rating
Date of Post:
2008-10-03
Review:
Hi Jeff,
Thanks for the support. I would like to see more "unhappy" members come forward with their experiences, as some of these postings would appear to be rather questionable. I wasn't aware that the "happy" members of G1 were responsible for processing my request for repayment. Anyone that had involvement with G1 and the TrendFX debacle last year- and the subsequent NFA investigation and shut down of TrendFX- knows exactly where we're coming from.
slib, North Carolina
Rating:
No Rating
Date of Post:
2008-10-03
Review:
Mr. Martin,
I have asked Mr. Palmer to give me an example of how Rick and Walter have given the mebers of G1 MORE than they have promised. Simple question that remains unanswered. I did not indicate that I was requesting to be made whole from losses. I stated that other members who had money in the autotrac and lost monies were told by Rick in conference calls that G1 would make whole those members that suffered the losses. Those members have not been "made whole" to date. I have requested my loan money be refunded to me- plain and simple, and believe me I would like nothing better than to have my loan to G1 returned so that I could be rid of them! As far as having to identify myself to you and when I made the request for my refund, I will say this. My business with G1 is none of your business. How would you actually propose to verify my claims in the first place- do you have access to my files? I have made my requests known to the officers of Global One Group- maybe your suggesting that there are so many members that have requested refunds that they're having a hard time telling us all apart?
I stand by my postings on this Blog site. An axe to grind? You betcha as Sarah Palin likes to say- G1 could be rid of me very simply by returning my loaned money to them- that would make me a very happy FORMER G1 member.
As far as my reference to issues of honesty and integrity- I'm referring to the current cast at G1- Rick, Walter and Dan. I have a question for you- as you seem to have some knowledge of the organization- why is it that G1 has begun promising cash to members referring new members to the organization, but refuses to refund monies to those like myself that loaned them money? Seems like if they have money to distribute, honest men with inegrity would act accordingly- especially since the G1 asking price for new memberships costs somewhere between $1500-$2000.
As far as the "happy" members of G1- I have no quarrels with them. I am simply requesting that my money that was loaned to G1 be returned so that I can be "happy" again. My experience to date has been anything but that!
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