I considered an investment in this company but based on the information they sent me, and my independent research and due diligence, I identified a number of red flags. I have almost 40 years’ experience as a financial services professional, so I know what to look for!Firstly, they state several office addresses around the world in their literature. Their address in Uptown Tower Dubai is a PO BOX; they do not have an office in this location. I also contacted the actual company based at the address they stated in Queensland Australia, and they informed me they do not have an office here either! I suspect the London and Singapore addresses are virtual offices and their registered office is on a high street in a small commuter town in Surrey. Altogether not very compelling!Next, they claim to be “currently facilitating a trading route with a remarkable €256M in transactions.” What is ‘remarkable’ about that is why a company trading that amount of capital would have the need to raise money from small private investors, offering them rates of return of up to 35% (as stated in their literature)! When you factor in the fact these companies typically pay brokers, sales people and agents at least 20% upfront commission (often as much as 30%), why would you continue to fund a trade route of this size with a 50%+ cost of capital, when institutional funds and ultra-high net worth investors would gladly provide funding for less than 10% at this scale? It simply doesn’t add up!Then we have the crucial ingredient of any business, the people behind it. A quick search shows they have no background in precious commodities of any kind prior to launching the business, a mere 3 years ago. They are clearly exploiting the gullible by jumping on the bandwagon in what they see as a growth market, but one they have little clue about!
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Own Gold is a global leader in the gold industry, specialising in buying and selling of pure gold bullion. The company provides a 360-turnkey solution for businesses in the gold sector who are looking to acquire larger quantities of gold, as well as facilitating their own direct routes to market. This meets the rising global demand for gold whilst also reinforcing their key role as a pivotal player in this industry.See more
