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Review 4/10/2011
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I was contacted by this group and did not find any helpful reviews, so I offer my experience and opinion. They sounded very convincing over the phone. They were willing to lower the minimum investment from $5K to $3K to invest in precious metals and leverage it into more control. If I understand this correctly, they finance all the pooled investments from the clients by about 1.8 times and trade various precious metals. Eventually as prices rise, profit is made after the financing is paid for. This all seems to make good sense because they assume most of the risk. Once you get the documents for signing, read it VERY carefully and note the extra fees. Percentage fee on the value of the precious metals and new account fee for example. This may or may not be the standard, I don't know. I do know that TD Waterhouse in Canada has no new account fee and when I bought 100 ounces of silver at $17.xx/oz, the commission was $27.00 <2% of total value. You decide, WAG does the leveraging, assumes most of the risk and charges extra fees or you do it all your self and take all the risk yourself. Either way if things go bad, you lose. Personally, I declined WAG's offer and make all my own trades via TD Waterhouse.
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