- Report: #842326
Report - Rebuttal - Arbitrate
Complaint Review: ASI Group - Active Traders
ASI Group - Active Traders5, 175 Varsity Parade, Varsity Lakes, QLD 4227 Internet, Select State/Province United States of America
ASI Group - Active Traders Active Traders Another Change of Company Name Internet, Other
The ASI group, now to be known as active traders. Previously known as the ASI club.
These guys keep changing their name as their name becomes rubbish.
I have spoke with the broker that I used to deal with at Kinectic Securities before they went under.
He gave me what I feel was the honest truth.
He told me these guys are a complete scam, the guy who does the recommendations has not got any idea on how to trade, he has never traded his own money and was brought into their business to do their IT. That is why he goes on runs of getting 15 in a row wrong. He makes rookie mistakes, such as predicting news and trying to trade accordingly. When the news is not as expected you make big losses.
Their hit ratio is around 30% winners and that is before the high cost of trading with their brokers.
He also told me he has never seen a client account make money. Although during the sales process they claim to be able to double your money each year. They then hide behind the "past performance is no guarantee of future performance".
He said they promise the world, then just get you money in and write as must commission as possible, before you close your account.
These guys are complete scam, stay far far away. You will only lose money.
This report was posted on Ripoff Report on 02/20/2012 06:02 PM and is a permanent record located here: http://www.ripoffreport.com/r/ASI-Group-Active-Traders/Internet-Select-StateProvince-/ASI-Group-Active-Traders-Active-Traders-Another-Change-of-Company-Name-Internet-Other-842326. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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