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  1. #1

    Default Australian Shareholder Centre

    I was wondering whether anyone has used "Australian Shareholder Centre" and their experiences and thoughts?

    Essentially I am currently using margin lending and my own investments. While this year has been good, overall I have not gone too well as I just dont have enough time looking at the market. I was looking around and came across Australian Shareholder Centre (I believe based out of gold coast).

    They trade in CFDz which I am aware are higher risk but they rely heavily on trailing stock losses to mitigate risks. I got the sales pitch which, if believed, would yield close to 50% (which obviously rang some alarm bells). They provided me access for a limited period to their members area and I went through all of their trade recommendations for the year so far. In essence, this year they have achieved losses on 56% of their trades (from my own calculations). However, on the plus side, after brokerage etc, it would have yielded approximately $2000 profit thus far. This isn't far off other years they claim. This is in their A and B categories (essentially trading CFDs on ASX, NYSE and London).

    My concerns:
    -obviously the extremely high return is of concern
    - i can not find any reviews of them on the net. Some further searching identified they are a legitimte business IAW ASIC and australian business register and used to trade as Trumarket a number of years ago which hasn't got a good wrap on this forum.
    - There is an extremely high set up cost of between $5000 and $7000

    Reasons I am contemplating it:
    - my own analysis of their trade recommendations year to date does demonstrate a high rate of return in line with what they are claiming.
    - I want to get out of self managed investments as I don't have time and look at a medium to high risk place to park some of my savings that is fully managed.

    Any thoughts, experiences and advice is greatly appreciated.

  2. #2

    Default Re: Australian Shareholder Centre

    stockguru
    The following is my assessment of Australian Shareholder Centre:


    A timely assesment, someone just asked me about this mob so I appreciate your effort.

    Cheers Classer

  3. #3

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by steve85 View Post
    I was wondering whether anyone has used "Australian Shareholder Centre" and their experiences and thoughts?

    Essentially I am currently using margin lending and my own investments. While this year has been good, overall I have not gone too well as I just dont have enough time looking at the market. I was looking around and came across Australian Shareholder Centre (I believe based out of gold coast).

    They trade in CFDz which I am aware are higher risk but they rely heavily on trailing stock losses to mitigate risks. I got the sales pitch which, if believed, would yield close to 50% (which obviously rang some alarm bells). They provided me access for a limited period to their members area and I went through all of their trade recommendations for the year so far. In essence, this year they have achieved losses on 56% of their trades (from my own calculations). However, on the plus side, after brokerage etc, it would have yielded approximately $2000 profit thus far. This isn't far off other years they claim. This is in their A and B categories (essentially trading CFDs on ASX, NYSE and London).

    My concerns:
    -obviously the extremely high return is of concern
    - i can not find any reviews of them on the net. Some further searching identified they are a legitimte business IAW ASIC and australian business register and used to trade as Trumarket a number of years ago which hasn't got a good wrap on this forum.
    - There is an extremely high set up cost of between $5000 and $7000

    Reasons I am contemplating it:
    - my own analysis of their trade recommendations year to date does demonstrate a high rate of return in line with what they are claiming.
    - I want to get out of self managed investments as I don't have time and look at a medium to high risk place to park some of my savings that is fully managed.

    Any thoughts, experiences and advice is greatly appreciated.
    As a general rule I suggest you do not register with any website where they want your email and your mobile number before they will tell you what services they offer. Also be suspicious of anyone who is unwilling to be upfront about their upfront costs. Sound business don't resort to these sort of tactics.

  4. #4

    Default Re: Australian Shareholder Centre

    It appears that this company is changing its name and URL to "Australian Share Centre".

    The question needs to be asked, why? What are they hiding? What are they running from?

    Another red flag and another reason to avoid this company like the plague.

  5. #5

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by stockGURU View Post
    It appears that this company is changing its name and URL to "Australian Share Centre".

    The question needs to be asked, why? What are they hiding? What are they running from?

    Another red flag and another reason to avoid this company like the plague.
    Unfortunately, I decided to throw the dice and give the Australian Share Centre a try.

    BIG WARNING ... the information they give you access to in 'The Sell' is fabricated. If you look underneath the Trade Performance there is the following disclaimer: "All results although based on live trades are hypothetical and do not reflect an actual trading account."

    Hypothetical is 100% correct. In my experience, their success rate is closer to 10% so, if you chose to invest, be prepared to watch your funds steadily dwindle away. They take their share of brokerage for all trades so they win whether the trades win or lose, and more often than not - THEY LOSE.

  6. #6

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by mutz View Post
    As a general rule I suggest you do not register with any website where they want your email and your mobile number before they will tell you what services they offer. Also be suspicious of anyone who is unwilling to be upfront about their upfront costs. Sound business don't resort to these sort of tactics.
    RE Australian Shareholder Centre

    Great feedback and thank you! I had the phone call recently from them and was quite attracted to what the company offers - especially the low brokerage.

    I wonder - does anyone have any experience of trading through this company? I know the evidence quoted here is worrying but use of a stop/loss to mitigte losses is valid. Yes they do take brokerage - doesn't everyone - but at 0.1659%. Their fee for service was not up-front as has been said here already but it wasn't hidden either - it came up later in the phone conversation - a $5000 fee to secure their services. ON a decent perfromance you can make this back in time.

    The arguement is sound - many of us including me do not have the time to do the reserch required on stocks across the US / London and Aussie markets. Also to buy and sell across days and weeks requires time for intensive research - and making trades in a timely manner - I just can't do it timewise.

    If this mob is not trustworthy - who is? Do you know a firm/broker who will do the research and reccomend the trades for me on that research? I wonder??

    I am really looking for some ideas here?

    Does anyone know about Excela?? I have been using them for a while in conjunction with ANZ E-Trade. I find its hard to get much action out of them and the feel is that there is nothing happening until you ring and ask? I am down 3 grand on AMP through them. Anyone doing better than this?? Anyone who is also time-poor?

    samy.

  7. #7

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by steve85 View Post
    I was wondering whether anyone has used "Australian Shareholder Centre" and their experiences and thoughts?

    Essentially I am currently using margin lending and my own investments. While this year has been good, overall I have not gone too well as I just dont have enough time looking at the market. I was looking around and came across Australian Shareholder Centre (I believe based out of gold coast).

    They trade in CFDz which I am aware are higher risk but they rely heavily on trailing stock losses to mitigate risks. I got the sales pitch which, if believed, would yield close to 50% (which obviously rang some alarm bells). They provided me access for a limited period to their members area and I went through all of their trade recommendations for the year so far. In essence, this year they have achieved losses on 56% of their trades (from my own calculations). However, on the plus side, after brokerage etc, it would have yielded approximately $2000 profit thus far. This isn't far off other years they claim. This is in their A and B categories (essentially trading CFDs on ASX, NYSE and London).

    My concerns:
    -obviously the extremely high return is of concern
    - i can not find any reviews of them on the net. Some further searching identified they are a legitimte business IAW ASIC and australian business register and used to trade as Trumarket a number of years ago which hasn't got a good wrap on this forum.
    - There is an extremely high set up cost of between $5000 and $7000

    Reasons I am contemplating it:
    - my own analysis of their trade recommendations year to date does demonstrate a high rate of return in line with what they are claiming.
    - I want to get out of self managed investments as I don't have time and look at a medium to high risk place to park some of my savings that is fully managed.

    Any thoughts, experiences and advice is greatly appreciated.


    Steve - I posted on the Aust Shareholders Centre thread too - I wonder who are you with if not Aust. Shareholders Centre?

    You mention " I want to get out of self managed investments as I don't have time and look at a medium to high risk place to park some of my savings that is fully managed."

    This fits me exactly - I have been with Excela for some years but its all too pedestrian; do you know any other optins? (See my reply to your previous thread).

    Thanks

  8. #8

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by samy View Post
    Steve - I posted on the Aust Shareholders Centre thread too - I wonder who are you with if not Aust. Shareholders Centre?

    You mention " I want to get out of self managed investments as I don't have time and look at a medium to high risk place to park some of my savings that is fully managed."

    This fits me exactly - I have been with Excela for some years but its all too pedestrian; do you know any other optins? (See my reply to your previous thread).

    Thanks
    Hi Samy;
    Sorry it took so long to reply to your post. I must admit, I ended up doing a bunch of research into technical analysis on the markets and paying closer attention to my shares.... for a while. Until I again ran out of time when work picked up and I had to head away for a while. I must admit, I had a lot of success in that brief period but then again, how can you not when we have had a great market of late.

    As far as other companies, I havent looked into them as I was pretty disappointed with the general lack of transparency and some other things I read. I am not saying that there arent good analysts out there that will significantly improve my trading base, but reading a number of resources, only the absolute best have any real difference in results to the average home trader. And the absolute best arent going to worry about someone like me who is investing relatively little amounts of money. i.e. you can read this as (in my opinion) if you have a fund worth managing, you probably can get the best of it, if not, you are spinning the dice a bit.

    I am considering pulling out soon as I feel the market has been bullish for quite some time and I am finally almost square with my losses from 2008. That and I am about to move oversees and the chances of me monitoring my shares from Europe are even less. Good luck and if you do have success, let me know as this might be an option for me when I head away.

    Also, thanks everyone else for the responses and I hope it helped other people out as well. I think the fact they changed their name shortly afterwards is an indication that this could be a lucky miss. I know that I am personally very happy with my decision to not go with them (p.s. from what was explained to me, the "low" commission is actually based on the full amount ie if you buy $1,000 of CFDs for shares worth $40k, you pay that % on the 40k..... that is a much larger commission on trades!)

  9. #9

    Default Re: CFD Brokers

    0Has anyone dealt with the Australian Shareholder Centre?

  10. #10

    Default Australian share holder centre

    Has anyone invested with this company?

  11. #11

    Default Re: Australian Shareholder Centre

    All I can say is.......... do not do it!

    I joined earlier this year and have lost about $6000. They have a win rate of approx 25 %.

    My gut told me not to go with them but they kept ringing me up and eventually offered membership at $4900. I think they seriously misrepresent themselves and am currently looking at legal avenues to recoup my membership cost.

    stay away

  12. #12

    Default Re: Australian Shareholder Centre

    Seriously, why do you guys trust people with your money like that?
    I don't think anyone should even trust a proper, established, big institutional, global banking powerhouse and all that - backed fund manager let alone these clowns.

    Is it because it's the stock market or financial product mumble jumble that separate your normal sense of caution?

    If you are not dealing with the stock market, would you give any business your money just to then give them money so they will make you rich? [if you would, contact me for my bank details please].

    I feel silly telling you this but you don't seriously think there are people out there wanting to do nothing but make you rich right?

    Making money is supposed to be hard, making money in a field you don't know is almost impossible... so either do something that you do know to make money, or study and get to know the field you want to make money in to then make money- by yourself.

    Unless you control the guy, control his paycheck, that without your paycheck he won't be able to catch a train or turn on the lights in his parent's garrage... unless you have that kind of influence on the guy, you cannot hope to be served by him. This applies to fund managers who take your 1-2% no matter how they perform, applies equally to subscriptions' "analysts" who have nothing to lose, really not much more to gain from you, to motivate him to work harder to make you rich.

  13. #13

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by steve85 View Post
    I was wondering whether anyone has used "Australian Shareholder Centre" and their experiences and thoughts?

    They trade in CFDz which I am aware are higher risk but they rely heavily on trailing stock losses to mitigate risks. I got the sales pitch which, if believed, would yield close to 50% (which obviously rang some alarm bells). They provided me access for a limited period to their members area and I went through all of their trade recommendations for the year so far.
    My experience with a similar outfit [may be the same one after multiple ?bankruptcy?name changes] is that their so-called members area provided information that was wholly misleading compared to their results once I spent my money. I would go so far as to suspect fraud [not necessarily in this case, of course] in order to suck people in. Have you any way of going back to verify with other members whether their recommendations were as described? Anyone can post recommendations after the event that look impressive!!

    Stay away is my advice.

  14. #14

    Cool Australian Shareholders Centre

    has anyone had dealings with the above

  15. #15

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by The joker View Post
    All I can say is.......... do not do it!

    I joined earlier this year and have lost about $6000. They have a win rate of approx 25 %.

    My gut told me not to go with them but they kept ringing me up and eventually offered membership at $4900. I think they seriously misrepresent themselves and am currently looking at legal avenues to recoup my membership cost.

    stay away
    I just wish I had found this thread six months ago. I did a web search on the “Australian Stockholder Centre” but somehow only material put out by the company itself came up.

    Early this year I was contacted by a very smooth talking and plausible representative of this company who persuaded me to pay them quite a lot of money ($5,000) to become one of their “clients". As some people may already know, the ASC has a rather slick-looking website which provides purported detailed data on their past investments. Before I agreed to become a client I went through the “Trade Statements” section of the ASC website carefully, and after adding and subtracting a lot of figures for the previous 6 months, it seemed to demonstrate that the company had in fact obtained good returns, in agreement with the graphs and statistics they showed for their performance over the past 6 years or so. I also carried out a search of the web looking for any comments about the performance of the ASC, but couldn’t find any, adverse or otherwise. The company rep told me that this was because none of their past or existing clients had any complaints to air as they were “doing so well out their financial involvement with the ASC”.

    However, since I have been with them their dealings have been almost uniformly disastrous, and to date I have lost almost $10,000 on the ASX and US sharemarket transactions they have carried out on my behalf.

    I now think I may have made a huge mistake and after reading your comments it seems like a good idea to try to bail out of my “client” relationship with the ASC as soon as possible.

    I am now also wondering whether the Trade Statement section of their website has been in some way manipulated so that the returns look very good to prospective clients (who are only able to login for about 24 hours while considering their decision to become a client or not, using the company rep’s details); whereas existing clients like myself who login to the site using their own details are the only ones allowed to see the actual very poor results. Would it in fact be possible for the developers of the website to do this?

  16. #16

    Default Re: Australian Shareholder Centre

    I've just glanced through this page of the thread and was curious enough to google the company name.
    I'd dismiss it instantly just on the basis that no access to any detail is available unless you register with your personal details.

    Yeah, right. So they can subsequently harass you with sales offers.

    To those who feel dudded, what do you intend to do about it? It's fine to complain here but ASF can't actually help you. Do you feel sufficiently ripped off to report them to ASIC?

  17. #17

    Default Re: Australian Shareholder Centre.

    Quote Originally Posted by The joker View Post
    All I can say is.......... do not do it!

    I joined earlier this year and have lost about $6000. They have a win rate of approx 25 %.

    My gut told me not to go with them but they kept ringing me up and eventually offered membership at $4900. I think they seriously misrepresent themselves and am currently looking at legal avenues to recoup my membership cost.

    stay away
    $8000 down in 2 months. Would like to recoup my membership costs. Any ideas?

  18. #18

    Default Re: Australian Shareholder Centre.

    Quote Originally Posted by Propertypro View Post
    $8000 down in 2 months. Would like to recoup my membership costs. Any ideas?
    Just discovered that the people running this dodgy business have changed their name yet again – they are now calling themselves "Share Centre". Their 'new' website (www.sharecentre.com.au) is virtually identical to the one that was running under the banner "Australian Shareholders Centre". The methods they have been using to fleece money from unsuspecting small investors are almost certainly exactly the same as before.

    Seems pretty obvious that they have done this because their name was getting a really bad smell, as more people who have lost serious amounts of money with them are now starting to spread the word.

  19. #19

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by The joker View Post
    All I can say is.......... do not do it!

    I joined earlier this year and have lost about $6000. They have a win rate of approx 25 %.

    My gut told me not to go with them but they kept ringing me up and eventually offered membership at $4900. I think they seriously misrepresent themselves and am currently looking at legal avenues to recoup my membership cost.

    stay away
    Thanks for the advice, they rang me today and sounded like they could make me lots of money,but i wasent sure so , I asked someone at work, who said I should look at this sight,after read what everone else was saying ,Ill think stay away. Thanks

  20. #20

    Default Re: Australian Shareholder Centre

    Quote Originally Posted by Timf View Post
    Thanks for the advice, they rang me today and sounded like they could make me lots of money,but i wasent sure so , I asked someone at work, who said I should look at this sight,after read what everone else was saying ,Ill think stay away. Thanks
    . That is a sensible decision. I can tell you today after being with them for one month, I have instructed Halifax (the broker) to cancel my account and take no more instructions from ShareCentre. I have lost about $4000 in that short time. I was tentative about dealing with them in the first place, but decided I could afford to risk $10000. Bad decision. Wish I could have found this forum with the searches I did originally before I went with them.

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