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:
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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.
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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.
Had a call from Oztel on the 26/09/2019 which was a follow up call to which came out of the blue a few weeks ago they emailed some pdf files etc.. when I queried about the price the caller said it costs 15k for the program if I invest $50000 I would make $1000 a week…told him I wasn’t interested. The number he called me from is 0479 076 058 the caller sounded like a con.
I transfer money in and out of Admiral Markets without an issue. Oztel use this as it’s backed by St George Bank.
I do very well with this company. Been with them several months and I would recommend them.
Can’t complain 8-10% per month.
A daily confirmation comes via email of trades.
What role do Admiral Markets play in this? Are they the broker?
Oztel sell the EA ?
Yes Admiral Markets are the broker. They hold Australian Financial Services Licence (AFSL)
Oztel sell the programs and use Admiral Markets. Only yourself can deposit or withdraw.
I receive daily confirmations of trades placed by the EA. from Admiral Markets.
It works out to about 8-10% per month, whatever your amount of money invested.
The EA’s work for me, as currency trading overseas of the main pairs, are mostly at night.
Oztel has the technology, is a legal company that I wish I had joined sooner.
Much better returns than leaving it in the bank. I can withdraw money overnight and it’s in my bank account next day.
I had a call from 0422267377 today and then I read these posts. they’re not getting my money,
OzTel Trading Pty Ltd
Phone: 61 7 3394 8377
Fax: 61 7 3394 4080
Email: info@ozteltrading.com
433 Logan Rd
Greenslopes Qld. 4120
Hi all I recently purchased some e.a from oztel they are producing around 8/10 % per month and have been for the last 6 months , can someone tell why I am making money and others are not l take my profits out every month with no hassle
Regards Nick
Don’t know. Can you point us to where you get this E.A. and where people are saying they are losing?
Hi all ……. I have been with Oztel for about three years and started off with $500 ………. my balance is at about $4500 which is ok for me doing nothing , I just have some issues with one of my robots but all my contact tech guys seemed to have left ??
I have not an issue with them either.
I am currently hooked up to Oztell’s ea , so they manage my account for me, I’m wondering if I should be worried….
we would be..
Hope you don’t have to much exposure
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
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
Are Guardian ATS up and running again?!
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
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
I’m also doing research on oztel , do you have any new information?
thank you in advance
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.
JB, could you please email us at admin@aussiescamalert.com please, as your email supplied bounced.
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.
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
Hey Rob, how did you go with Fair Trading?