Cold Trading International seem to be the next step in the chain that has been Laybet Professionals, Charterhurst Agencies and Exelon Group,.
What we do know about Cold Trading International:
They set up their website in June this year.
They registered their ABN in May this year.
Their Director uses an address at 10 Albert Ave, Broadbeach in Qld.
Exelon Group also uses this address. It is a business location that hires out mailboxes.
We would have though that the Director needed to give ASIC a real residential address.
They claim they have their office in Brisbane, but their bank account is in Bundall on the
Gold Coast and their mailing address is Broadbeach.
They are charging $10,000 for the basic software, and you get a laptop as well for the price.
This has been the MO for Exelon, Charterhurst and Laybet Pros. By giving you software and a laptop, they believe they are fulfilling their obligations to the agreement you sign, and you then have no claim against them if the software doesn’t work. ( this will be tested in a coming court case involving Laybet Professionals and Charterhurst Agencies)
Are they Cold Trading?
By definition, Cold Trading is when you place both win and lay bets before an event starts in order to try to extract a guaranteed profit no matter what the outcome of the event.
It is a legitimate trading technique used by many people.
You can learn the techniques in courses that are normally a couple of hundred dollars.
(still takes a lot of practice to prefect though).
Cold Trading Int are not doing this. They use their software to place lay bets on horses before the race starts but do no other betting in the event that that. ( Just as Exelon etc did too)
Comments regarding Cold Trading Int
Apart from the comments below there are also some on our Tell Your Story page, one of which is this :
“Would love to. Initially I received a pleasant telephone call from “Rebecca”. Once I’d shown a little interest I was passed up line to “Steve”, claims his name is Steve Escott. Being a battler I only coughed up $3300 initially but them was enticed to top it up to $5000. Fool that I am, I did.
I received my software and manual and surprise, surprise I couldn’t even get a single bet accepted by the system. After numerous messages left for Steve and an email to admin@coldtradingint I had a call from Steve who admitted that there was a problem with the software and they would send me another but to maximise my returns I would need to add $5500 as his partners were uneasy about the “deal” he had offered me. I again scrapped up the 5500. I was still unable to place a bet. Days later I was asked to step up to the big league with the professional team but needed another $10000. When told there was no way Steve applied the pressure- get it from your friends, try the bank, add it to your credit card the returns will pay it off real soon or if I have enough Super get it from there but that may take time and the deal won’t be on the table. This time the alarm bells were ringing and since I told them in a text message, I can’t get the funds I have not been able to contact them nor have they contacted me. The first alarm bell was when I was asked to send extra money to IFP. (The syndicates) bank -separate from Coldtradingint.com.
I lodged a complaint on scamwatch but have resigned myself to not seeing any of this money again.”
A good lesson (too late in this case) to be on high alert of you are pressured to purchase, pressured to upgrade to the next best thing ( even when the first version doesn’t work).
We suggest using a high degree of caution if considering investing in this. Be willing to lose ALL of your investment.