ASI Group - Active Traders Active Traders Another Change of Company Name Internet, Other

I received an email this morning about the the company that lost me over $20,000.

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.