Please note: This is an opinion piece, meaning that it is just our opinion about the merits of Ozplatinum. Please use your own judgement in deciding whether to invest or not.
Ozplatinum , Ozplatinum.com.au
Their stated aim is to make for you a passive, residual income from multiple investment platforms. Currently they are only offering a horse racing, lay betting, managed service.
Being a company that operates from the Gold Coast and is involved in horse race betting, both areas of wide-spread scam abuse in the last several years, I think it is in the public interest that they be reviewed. This is not to say they are a scam, or even dodgy. This company may well set new standards in this industry if they stay true to their mission of being open and transparent and succeed in creating redisual income for their clients. We wil have to see how their lay trading program performs.
Already they have shown that they behave differently to the known scam companies. They are where they say they are. Their Directors as listed with ASIC are actually there in the business and not some front-men. They are making a whole hearted effort to be transparent and have already shown that they are willing to address issues with their program and client’s satisfaction.
Now to their lay betting product:
Ozplatinum have been offering the program with entry level starting at $3,000 ( + GST) with about the same in your trading bank ) and going up to a $24,000 licence, again with about the same in your trading bank. The target profit from whichever licence you have is 10% of your licence price plus bank, per month. Eg: if you buy the $3,000 licence you should make $600 per month. They also take 50% of the monthly profits. It is unclear to me whether that is gross profit..for instance if you lose ground one month and then hit a new high the next month, do they take 50% of all that month’s profit
They offer a free trial, if you put in $200 to a Betfair account. The goal of the trial is to make you $50 profit.
So how does OzPlatinum stack up?
There are results puiblished on their website as well as their Facebook page for all to see. February, on the website, looks to have been a good month. There is a mixture of lay bets as well as back bets. I am not sure why the back bets are included and it is unclear whether they are part of their strategy or not. I was told by management that they don’t do any back bets any more.
I have heard from some triallists that there has been some back-betting at times. Not that there is anything wrong with that, it is just unclear what the strategy is.
I have had mixed reports on the trials. Some reach their $50 profit in less than ten bets. Someone else took around 100 bets to get there. Some people lost.
They say they will return any lost funds. I would hope that they put that in writing before any trial commences. If you qualify for Betfair’s $200 bonus, note that they do not guarantee the safety of that $200 as well. So they could lose $150 of your bonus and though the trial didn’t make a profit, they could say that they don’t owe you anything because you still have more than you started with (as has happened with one trialist). except that you would have actually lost $150 of your bonus money. (there are conditions to the bonus with Betfair however, and that means you can’t just withdraw it..you do have to bet it through).
The trial is fairly agressive, targeting risks of around 30% of the bank for each bet so the bank could be wiped just as easily as make $50 profit. I think it would be better to target lower risk to show the fluctuations you might expect realistically in your account. I think the aim of a trial should be to show you how well their system works over a reasonable period, rather than just try to make you some quick cash.
I would prefer to see them offer a substantially long trial, say at least a hundred bets. The odds seem to vary from as little as 1.50 to over 300 in one case. They lay to a liability, meaning that risk is limited which is a good way to lay the longer priced selections. Still, with many longer priced selections (say roughly 20.00 average) a long trial is necessary to get a guage on winning and losing sequences.
Of course there will be ups and downs, winning and losing months. Even the best services can slump for months at a time. Long term statistics and results is all you can really go by.
I don’t like the idea of outlaying a large upfront fee for the service. They don’t mention refunds..you’d have to check the contract before you sign. I think a much better and fairer option would be to offer monthly fees rather than the large upfront fee, given that they don’t have a long track record, yet. At least you would be able to dip your toes in and see how it pans out. Management have said they are considering that but I have seen no change on their website yet. Also, the 50% take of profits seems rather large. It’s hard enough as it is to win in this game without losing half of your profits. I would like to see them take smaller commissions.
They do use a sales team to call prospective clients, which I suppose many businesses do. Just beware that sales people, in any business, do not necessarily always have your best interests at heart (some do, some don’t, depending on the quality of the product) since they usually work on commission. You really need to take care and make sure you don’t get pressured into anything. Take you time, do due diligence and think carefully before investing large amounts of money. Only invest what you are comfortable risking.
If it interests you, I’d advise getting as long a trial as you can. At LEAST a hundred bets. After that, if you’re satisfied, then you need to consider whether you should go ahead. It may well be profitable, but you won’t know until months down the track. It is a bit of a gamble to outlay the upfront membership fee which will represent more than your bank. A better arrangement might be profit share or monthly fees rather than an upfront fee which is not refundable (?). I would try to negotiate something like this if they are not offering it. Also, try to get guarantees for any licence fees paid.
Please read comments below for other opinions about Ozplatinum. The comments do not necessarily represent the views of Aussie Scam Alert, and some, but not all are verified.
If you’ve had experience with Ozplatinum please contact us. We’d love to hear how you got on.
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I have given them near on 9 month and no one did they make any money for me.
I have been going through this issue with this Oz Platinum since October 2014, though only to the extent of losing the $200 Trial. I have gone through nearly all avenues to recover my money, by notifying the police, ASIC, Office of fair trading. I was informed by Office of Fair Trade that they cannot do anything with this type of company where you invest to make financial gains. However they pointed me to lodge a complaint with QCAT ( Queensland Civil and Administrative Tribunal) .
I would suggest that you try this government department and see if they can help you. Also I notice a few other recent comments on this site with others losing extreme amounts of money, I would almost think it would be of huge benefit to all these people to come together and work together make Oz Platinum accountable .
Given also the amount of money involved for yourself I would certainly look at involving lawyers and getting their opinion.
your owed $200 return trial.
I’ve told you that you will get it… what exactly am i being held accountable for Bruce?
If i was doing something wrong why on earth why i even engage in this forum? why would i put my name up here for people to see? place pictures of myself and my son on the facebook page?
If you know anything about people in this industry that really scam people you would know they are ghosts, covered by front men, they don’t trade your money, you cant see what they are doing. They don’t have the ability or capacity to do what we do.
In the history of the company you are the only person who has not been refunded their trial $200. The only person. The main reason for that is that you were dealing with David Cook. He was asked to resign
We are a scam for sure?
Clients made more than $200 profit today.
Those results are public. Where is the scam exactly.
You have not received a refund, i will sort that out this week, for no other reason than it hasnt been addressed as it should. I apologise and have done so. It will be rectified.
The rest of what your saying is total and utter nonsense and you know it.
You have clearly said to me that if you do not get your $200 you will “take to the scam sites”
so does that mean had you got your deposit back already we wouldn’t be a “scam for sure”
Sorry Bruce but i think your actions and your words and your behaviour on and off this site are ridiculous. I fully acknowledge you havn’t been addressed in the professional manner that you should however that is not my fault but i will address it. I have an outstanding invoice for $1,200 from my mobile phone carrier they havnt paid for 3 months. I don’t think that makes them a scam, i think it just makes them guilty of poor customer service and processes.
Which i fully understand and take responsibility for in your case due to all of the things i have been doing in the last 3 months. I wrongly didn’t place your $200 in my high priority list. For that i can only apologise. Its not scam behaviour its simply poorly managed customer service which has happened for a variety of reasons.
I will make sure you get your refund
And when that happens i guess we will no longer be a “scam” right?- Regards Carl
Carl , in reply to your response yesterday. Yes I am owed by Oz Platinum $200 as is your companies policy for a failed Trial. You ask me what exactly are you being held accountable for, well that’s easy “the return of my $200″ which is promised by your company on a failed trial.
I am actually kind of surprised actually as you sent me an email to my personal email address just the day before you posted this actual response on here. Where you stated that you were not going to have an open discussion with me in this forum. you again told me you would return my money this week , but you also asked that I contact this forum and ask them to remove my comments. ( I was actually going to wait the 1 week and give you the benefit of doubt yet again, but in 1 day you posted this , so I now reply in open for all to see)
Also just to be correct, you imply all scams are carried out by ghosts or front men, surely you don’t actually believe this to be truth, I can assure you there have been many scams in this country to where these are performed by not ghosts or front men . You just need to watch programs like ” A current Affairs” to know this to be fact.
As you saying in the entire history of your company I am the only person never to be refunded their trial, now this may be true. But how am I to actually know this to be true? I do not have any access to your companies records, I not have access to your companies financial records.
Now you telling me and everyone here the main reason for the non return of the refund was because I was dealing with David Cook in which he was asked to resign. You are correct in this , I do not deny this. It was he who I originally dealt with when beginning this trial, which was mid October. I was dealing with you in regards to this since November 18 and have been since.
You ask ” We are a scam for sure?” Well you ask my opinion, which is what this site is actually state that these comments are view and opinions about Oz Platinum . I am only writing whats happened to me in regards to my situation with Oz Platinum after months of waiting.
You also try to discredit my character by stating that “I am saying total and utter nonsense and I know it” , either trying to give the impression that I am fabricating stories and making it sound far worse than it actually was.
You also made a statement ” You have clearly said to me that if you do not get your $200 you “will take to the scam sites”. Now who is fabricating and twisting the actual facts. You constantly tell me you are honest . Now again I will inform you that you personally have known about this issue since about November 18 2014, I spoke to you on phone about it , you also asked me to write in detail via email about the entire situation and you will sort it out. I have numerous emails from you telling me that you will refund me this week. this never happened, all your promises , never kept. Now to be correct in this, every time you promised to have my refund returned , was usually after I have written you and said I have had enough trying to deal with you about this issue and I was going to contact a number of institutions regarding this issue. Hence I mentioned ASIC, Office of Fair Trading and the police. In which you replied following these by promising me that in the week you will return my refund.So upon hearing your promises I held off and not make report. Yes Also I was going to make a report with the police scam reporting site , not with this site. As I was not getting anywhere or getting anything resolved I would let them investigate. If you are not a scam then you have nothing to hide. These options were not my first resort remember, they were only looked at after months of inaction by yourself, so please don’t blame me.
You say my actions and my words and behavior on and off this site are ridiculous? how so? because I make effort and chase my refund back, you would rather I forget about it and let you keep it?
Do you realize that in 5 months, your companies phones were never answered, you also never answer your mobile, so I cannot get into contact.
You say for the last 12 months you have been having issues with your mobile phone provider, as well as it seems with your companies phone provider, these are not my issues, you can easily resolve these as there are government departments you may report them to and have it sorted out. Also besides that there are many phone companies that are here in Australia, why stick with 1 who has failed to make your telephones work for 12 months is beyond me. But that’s not my concern.
Regards bk
(some parts of this comment have been edited out by Admin)
I signed up for the trial in mid October 2014, they lost all my $200 within a week. I have tried since October to contact them , 99% of times they never answer their phones. When I do get them to answer either by phone or their email I always get excuses about moving offices, phone issues, staff issues. It is now January 2015 and I am still waiting the return of my $200 trial as was promised before signing up.
I urge anyone to stay away from this company. I am still chasing the return of my money from the failed trial since October last year. Carl Forbes who is the director has been promising me my refund since November last year. Now in all these months it is near impossible to get into contact with them, only 3 times since October have they ever answered their phones. I have received a few emails from Carl Forbes , on the matter saying he will refund it as his company operates legally / ethically , along with a long list of excuses( phone Issues, Management Issues, holidays, moving house) , that I see have been noted by others on this site since Last july. Only wish I had looked here before signing up to their Trial. Yet his very own company policy states they will return the $200 trial if it fails., but he and his company are not honest and have no ethics . I just warn any other people out there who may be thinking of trying this company. After reading this , please know what you will be expecting should you trial it. I have to lodge a complaint to ASIC and the office of fair trade regarding this matter..
(some parts of this comment have been edited out by Admin)
I will once again inject some rational thought into people making statements that are simply not true. “scam trial” .. ? You as does everyone else who takes a trial does so under the terms and conditions.
there is no scam trial, there is a trial and if that is not successful we refund your $200 trial. Its that simple. I have dealt with you personally and you have not received your refund as yet because of many reasons to which i explained. Now i fully agree that it should not have taken this long but the fact is you were dealing with David Cook who was a director and in charge of all of the trading aspects and sales aspects of the business.
David Cook was asked to resign his position because he failed to carry out his duties to the standard which included dealing with your refund. Since then i have communicated with you at length. I have apologised to you about this issues and the delays.
You have not been refunded in the timely manner that should have been done for many reasons none of which i imagine you care about with good reason. Non the less those are the reasons unfortunately to which i have had to address and deal with.
Nobody “deceived” you out of your money, nobody conned you you entered into a $200 trial. It was not a trial that was successful. As we deal in betting and horse racing we can not always provide you with a successful trial and that is why we urge people to allow us to place you on a second trial.
You declined which is your right, you have not been refunded your money as yet and i will make sure that is rectified however to start making claims that the trial is a scam or that you have been “deceived out of your money” is quite frankly ridiculous. You placed your money into your bet fair account and we conducted a trial. You are under total control of your funds and your account at all times. You CHOSE to place your $200 into your account of your own accord. How exactly have you been or were you at any point deceived?
I understand people have points to make and i am happy to address them but lets not throw words around which carry meanings which have nothing to do with the facts of the situation.
Regards
Carl
In responding to your reply, you imply I made statements that were not true. What do you consider to be the inaccurate statements? You say “You as does everyone else who takes a trial does so under the terms and conditions.” But the promise of your company is to refund the trial should it fail, guess what it failed, and your companies terms and conditions were not honored. You have personally known about this issue since Mid November and then gave me your word you would rectify it asap, I was told by your new manager ” Taylor” in November , that the refund paperwork was all ready to go and just required your signature. Whether I decided to or not to try for a 2nd trial, is my choice .
Yes I understand that this company deals in betting and horse racing and that you could not always provide a successful trial, but your promise of full refund at signing on. Was this honored ? the answer is No! hence you have the nerve to say at what point I was deceived, is it not so obvious?
Yes I agree I chose to place the $200 in the betfair account upon signing up to Oz Platinums Trial, I did so under the conditions that were promised by your company. The guaranteed refund if trial fails.
I can only comment on my situation, as I only did the trial, but reading what others have posted on here, should I have put thousands of dollars invested here, I would be confident that I would be in the same position as them and would have lost everything.
(some parts of this comment have been edited out by Admin)
your $200 refund has now been refunded as you are aware.
Carl
I have been trading with these guys for about 5 weeks now and my account is below the amount it started at . I contacted the head office and they said I happened to join on their first ever loosing month . I wish I had pushed harder at the beginning relating to the results page which hasn’t been updated since a winning February . If it was legit you would think they would have a website that can easily be updated to show more current results . I think it will turnout to be a dud investment although I said I would give them 3 more weeks to start making some serious money . I don’t know if I am ready to call it a scam yet but time will tell . My advice would be to steer clear of these guys unless you get 100% proof . Cheers .
“If it was legit you would think they would have a website that can easily be updated to show more current results”
results are placed on the face book page all the time. Those results do not need to be updated on the website because the trading takes place within your own BF account ?
you can see every single trade as it happens
how can we ever hide what we do or whats happening or the results from you? the biggest selling point of the entire program is that you can see the trading good or bad. Other companies who are scams don’t even trade (they just tell you they do) and you have no way of knowing either way.
With us you see everything and all funds are under your control in your account, you can take them out, put them in or deny us access to your account at any time you wish.
Seriously some of the ridiculous statements and comments you have made here need to be reviewed. 5 weeks trading and you’ve jumped on to a scam website to say that the company of which you are a member at the time of writing cant be legitimate if they don’t update the website?
Whilst you are a member, and can check your account from any internet device at any time you wish?
And your advice whilst a member is tell people to steer clear of the company to which you have been involved in and are still involved in.?
I have zero issues replying to these comments because some of them are just ridiculous.
Telstra promised me super fast internet with excellent customer service, i have had nothing but problems with them for 12 months. My internet has issues, people told me Telstra were terrible especially with customer service.. but i still made a choice to proceed.
Are Telstra a scam?
Chris… log into your account, look at your results anytime you like. from your phone, ipad, PC …
Was contacted by a male from this company who said he spoke to me early in the year, I asked when? he said oh it was actually June at a shopping centre, I asked which centre? He then said it wasn’t him personally that spoke to me then told me he got my name from a Ryan then hung up. I called all the numbers on the website and no one picked up.
I think they have had trouble with some of their sales staff. They monitor this site so am sure they will take your comment on board and see this kind of thing doesn’t happen again.
I like others started with the $3000.00 Membership plus the $? to get started (nearly $5000.00 outlayed0, to date I have not had any income from this Scheme. I am a pensioner and was told I could supplement my pension with $1000.00 a Month. Instead I have a balance of .38 cents. Are there any options to receive a refund on my initial investment?
If anyone has any suggestions as to who I might contact, I would be grateful as my contact does not return my calls.
Not very happy , It seems I have been ripped off.
I’m sorry to say that you look like you been taken for the same ride I have been and yes they not thinking on making good on what they offered when I sign up with them. I don’t trust anything I get told by Carl as far as I’m concerned.
it is easy for you to jump on a scam site and make accusations
lets shed some truth, you have contacted me to tell me that you have lost your job and that you used your credit card to fund your initial membership. Now that you as a grown man have experienced financial difficulty in your personal life you are demanding the return of your membership fee. Which is non refundable and you knew this from the out set.
You also engaged in value which is higher the normal exposure. Which carries with it a higher risk rate than the flat $30 exposure. Which in gambling obviously creates bigger risk.
Your trading amount dropped below the amount it needed to remain at, i asked you if you would like to top up your account and said i would match it. You declined.
You also said that if you didn’t get what you want you would jump on this site and call us a scam.
Again your a grown responsible adult, you make your choice to gamble. Whilst it is unfortunate you lost your job and that YOU chose to pay the fees from your credit card, that is not our fault or our responsibility to help you with your credit card which you have stated to me i should, nor is it my responsibility to keep you in employment.
Whilst that might be a harsh truth you are on here using my name and saying i shouldn’t be trusted when in fact you are not be truthful about the circumstances or your motivation. Your a grown man, nobody has taken advantage of you or scammed you.
Gambling carries risk. Your personal circumstances do not supersede the terms and conditions you accepted at the start nor do they “require me to do the right thing and help you pay off your credit card”
we have hundreds of clients, if we are a scam why are they not all on here saying so?
different exposures carry higher risk, you can choose which risk your willing to take which is why there are different membership packages for you to choose.
some people win and some lose, the people who lose, then remove their accounts, then cry scam are the ones who need to be a little bit more honest with their own choices.
Regards
Carl
Talking about the Trues Carl.
1st I never ask to be put on the high risk setting on your system. Your operators did that.
2nd I never ask for you to return my membership fee, I ask you to top up my account so you can then recover the membership fee and the starting money as I was promised by your operators.
3rd I was told by David HE would top up my account to get it back in to Profit NOT me.
I suggested if you put money in and prove you are making money I would add more in as well. (that was before I lost my Job)
also Read my comments and show me where I called you a scammer.
4th I and from what I see of other people on here have fallen for the same sales speech from your operators been told that we WILL be making money with your system and can put it on our CC as we WILL have money coming in with in 2-3 weeks and can repay the Credit Card.
Maybe you need to be more HONEST as I have giver your system the time I believe it would have proven it self. over 9 month.
Also when I join I was told you be doing lay betting only I have prove on my BF that your Operators have done a lot of Backing as well and lost a lot that way from my account.
AND ONE LAST TIME : I was told that you have a system in place that would NEVER allow for you to EVER LOSE all the money in the Account. More then one time was this told to me.
You like to prove you running a system to make money do it TOP my Account and show it works and I’m happy to show the data here, other then that do not put words in to people mouth.
Regards
Mat
I asked for an extended trial and he said no until i said i didnt want to sign up, then he said he would do another two days of the trial then call me monday to see if i had changed my mind. on the first of the two day extended trial he made a profit of $4, but on the second day I looked at my account and he had started betting (backing to win NOT LAY BETTING) on Australian races. He lost $150 in the morning, I changed my password and raised my concerns with betfair. There was no contact from OZ PLATINUM at all today, but i think they would of realized when they couldn’t get into my account .
(this comment has been edited )
I agreed to trial and they made me the profit they said in only one day in about 8 bets, i’m not sure if to sign up or not. Any help would be nice. He said the company had only started last Jan.
I think i will ask for an extension of the trail to have more proof of the system working.
(edited)
my husband has less in his account than what he started at after 10 weeks and they have stopped trading on his account and after two days of phoning the office no one has even answered his calls
I have been told that Ozplatinum did conact this commenter and have said they will give a full refund. Yet to be confirmed. They also said that there had been an issue with their phone lines.
Hello I was just wondering how you went? I am having the same problem since October last year.
Hey guys i’m a week into my trial and they have been doing a bit of trading each day which has been a bit up and down… last night they went pretty bad and then their last few bets weren’t lay bets they were backing horses (and losing) and my account is currently sitting at $0.39… No contact from them since it began and i cant get them on the 2 mobiles i have been contacted on so far or the landline they list on their site… has anyone completed the trial and not gone ahead and received their money back or did you make profits?
did you get a reply from oz plat
I also just agreed to the trial.. how did you guys go? did anyone continue on? experience any issues? cheers
I have agreed to start the trial but I am very wary. Has anyone had any experience with this organistaion or similar organisations?
I have also agreed on the trial, things look ok so far, only strange thing is I’ve been called from the same person from 3 different mobile numbers.