Guardian ATS

17/1/2014: The parent company of Guardian ATS: ELKK Enterprises, is now in liquidation. Their offices in Bundall are abandoned, and website has been ‘being updated’ since November. So, while there was no concrete evidence of a scam, the material reviewed here is still of interest as to how you should look at a company you are interested in investing with. Always be cautious when the entry fees are high, and the evidence they supply, flimsy. Incidentally, they threatened me with defamation action in September and I was persuaded to take down this article.

I started investigating this company after seeing some references to it on another site talking about various scamsters. I have not reached a final conclusion about them yet, but I am not feeling that enthisiastic about them.

First of all, they seemed rather suprised that someone rang Them out of the blue, rather than them ringing anyone. I explained that I had just been searching for investments.

They offer trading sofware with automatic trading features so that you do not have to touch it and the software will trade for you and make returns of 30-50% a month!

The trading software they use is Tradestation, which is a legitimate third party software available to anyone, but needs to be used with Tradestation Securities who are a broker for trading. Where Guardian comes in, is supplying the settings for the software to use to make the automatic trades.

The risk with these kind of automatic trading systems, or indeed most systems is that they are back-fitted, which means the systems and rules have been devised by running the program through past data, and then refining the rules to filter out poor results, so that you usually end up with a nicely climbing profit graph. The problem is, that when you come to test your lovely new system live, the system usually performs terribly. Its all to do with statistics and reversion to normality.  Nearly every betting or trading system ever devised suffers this problem.

In some information on their website, they hint that this may be the process by which they arrive at their magnificent results they post:

(image deleted for copyright)

So, on their website they have a Peformance page which offers screenshots of supposed account statements. I can see they are straight from the software and not actual account statements from the broker.

(image deleted for copyright)

This is suspicious. Researching the Tradestation software on the web, many users and reviewers point out that one of the features of the software is that it is great for is testing past data and building reports on past performance for particular settings. This is my guess as to what this screenshot represents.

I pressed the woman on the phone if they had actual trading statements from the broker, but she kept directing me to the screenshots on the performance page. After five minutes of repeating the question, they still were not going to produce anything.

Like most of these operations, the price tag is $15,000-20,000, or $3700 lease with $350 a month payments.

I would be very cautious about this one. Hopefully I am getting some sort of live demo next week and will be able to report more.

Two other pieces of doubt: they operate out of Gold Coast Financial Centre where I remember one other company I investigated was operating from..just can not remember which one.   Second thing is that the woman on the phone, trying to convince me of how advanced automation is, was telling me this story about a US army base in the NT. She said that all the planes flew in, un-manned. Were unloaded, un-manned. The cargoes assembled into buildings, un-manned and the planes took off again, un-manned.  Hmmm

Update 12/8/13:  I rang Tradestation Securities who are the brokers that supply the trading software that Guardian use. I asked them if they supply their clients with trading statements. The answer was yes. They email them monthly statements on pdf files, or other periods at request. The statements are not given by the software.

So Josie at Guardian rang today to see if I had looked over the credentials for Guardian and was satisfied. I told her that the ASIC verification means little but what I want to see is actual trading statements from Tradestation Securities. She gave me the same old lines about the statements being the screenshots on the website, and then later, that they could not supply their clients private information, nor the statements of anyone who works at Guardian who uses the software. It is quite easy to blot out any sensitive information so I believe they do not have statements or at least statements showing the same glowing returns that the screenshots show.

So, at present I am not convinced as to the legitimacy about this one. Be cautious, do your homework. I have been contacted by Guardian ATS and they will be giving me live proof of their trading results. So stay tuned for more updates.

12 thoughts on “Guardian ATS

  1. michael

    I am currently hooked up to Oztell’s ea , so they manage my account for me, I’m wondering if I should be worried….

    Reply
    1. Steve

      I am with oztel trading i joined in may 2015 i lost all the monies they said that i have
      set up the computer wrong the trading house was Pepperstone
      so i paid them to use their computer there sales pitch is they only use small fractions on your investment so you gain a little & lost a little but to my horror all the money was gone on one nights trade & i still owe money on the margins i hope no other person has had the same problems i am still in a state of shock & the trading house is Vantage FX
      so i would not recommend any fx trading
      STEVE

      Reply
  2. Dean Budd

    Hello I joined ats in October I have up to date made -£400 and a joining fee of £4500 they kept pestering me to join , biggest nightmare of my life no one is talking to me after many phone calls , the only person I can talk to is the lady that answers the phone , I have emailed there accounts department 9times with out a reply , I want my money back can you help or give advise or point me in the right direction I really cannot afford to loose this money , I really feel conned………many thanks Dean

    Reply
    1. mick

      I,ve been conned by ats 1trading and want my money but cannot contact them they have changed their number has any one got a phone number

      Reply
  3. Nick

    Thanks for posting this.
    I’m wondering if you’ve heard of Oztel Trading who seem are selling similar auto trading system.
    I’m looking for more back ground info on the company and the technology.
    Cheers

    Reply
  4. JB

    I have been ripped off by these people and I am trying to work out how to do something about it and who I should report it to.

    Reply
    1. Rob

      I have been ripped off by Oztel who refuse to refund..They sell FX robots for thousands of $$’s that are identical to a robot that can be purchased online for a few hundred dollars. Oztel promised 10-20% returns but the system is losing money..I am going to fair trading QLD. I want to locate other people who have purchased from Oztel. I’m sure I’m not alone. Maybe we can get a class action going.

      Reply
      1. Steve

        I HAVE PHONED OZTEL ALL YOU GET IS A ANSWER SERVICE LEFT MESSAGES TO RING BACK BUT I HAVE NOT HAD A CALL YET
        WE HAVE BEEN CONNED

        Reply

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