Broadstreet Metals

[accessteam 10]

For the "Unsavory Brokers" Column:

Top of the list, Mr. J.T. Beckerman of Broadstreet Metals. Broadstreet is a toxic mixture of deception and incompetance. I admit I have made some bad investments in my time but none to compare with the $20,000 I invested with J.T. His leveraged trades reduced my $20k to a few hundred dollars in a matter of weeks! He also had the audacity to promise after the first trade went south that should he be unable to make my $20k back by the end of the year (2011) he would refund my money............NOT.

Should have known something was wrong when he deducted a 37.5% commission ($7,500) from the account BEFORE he began trading. Apparently metals trading is not regulated by anybody so as yet I have found no one to complain to. All I can do is warn potential investors about him. Caveat emptor.

[Mhannon 10]

I myself have invested with broadstreet metals and a few other precious metals firms in south fla and I Have actually made money with Broad street " not to come to come to the rescue of JP and his ideas" and have lost with a few others. When you collateralize these positons you have to remember that these metals are very volatile and can swing very quickly in any direction. I Agree that the commissions are up there but you get 3 times sometimes 4 times the buying power so you get what you pay for. Same goes for forex and the futures markets.. these are risky markets so you have to know what your putting your funds into. Sorry for your loss this time around.