Oztel Trading

Lost alot of money with this sham – I'm $16000 down ! My guys name is Andrew who has been crapping me for the last 5 years on how I'm losing my money because of the Japanese yen falling. I questioned why they didn't have a stop loss and get more crap. I'm the silly one that bought a $5000 robot then as it worked paid and ungraded! I keep getting margin calls and if I don't put more… Read more

money in I lose all so I kept putting money in. Andrew now doesn't even answer my calls. What a low life he is after reading all these other reviews. DONT INVEST WITH OZTEL TRADING!

Low life scum bag Mark ….. so many last names! – Warning ⚠️ do not invest in oztel or [Name Removed]. This guy is a smooth operator and will convince you in his product blah blah etc.! You have better returns with wiping your ….. with your $100 bills and flushing it! May as well lick the seat afterwards! As all you end up tasting is the dirty scum after taste that remains. Won’t be long! Every dog has it day! Once upon a time a client but never again! Kev

Dismal Failure! – I had money invested using the Oztel robots for some time. Initially it went well for a few months but then, like the other people who have posted negative reviews, I lost many thousands of dollars. It seems any of the positive reviews on this site are not verified, so you have to wonder whether they are even legitimate. How can the same system supposedly give returns to some while many others have posted they have lost thousands of dollars?

RUN for the Hills!!! – Speaking from experience the ONLY people who make money out of these Oztel Robots are Oztel! The owner we dealt with has misled us on multiple occasions and as a consequence we have lost tens of thousands of dollars. Unfortunately, he is very good at it and you don’t find out until it’s too late. He will tell you anything to keep you in losing… Read more

trades longer. The longer you're trading, the more money they make as they get a % of every trade the robots make. They even make money on losing trades.

You make money at the beginning and he talks you in to putting more and more money in, and then bam! Next thing you know you're in multiple losing trades. All it created was months and months of stress.

If we had been told the truth we never would have "invested" in this at all!

I do believe that Admiral Markets have something to answer for. They keep allowing him to load robots onto accounts knowing full well that at some point the unsuspecting client will lose out big time.

Be Extremely Careful – Warning to everyone who currently have accounts with OzTel Trading. We seriously will advise anyone looking to create wealth, please we warn you, not to use this company and their method of investing. All the money we invested in recent months, has completely been lost within a 12 month period. We will be seeking some professional advice… Read more

and we have already been in contact with Admiral Markets to launch an investigation in relation to this company and it's methods. We believe there are many other people who have found themselves in similar circumstances in this week. Please do something about it if you have been caught up in this mess.

I ask to collect the rest of my investment. He said No it will go up again. Live it there – I was introduced to this person 2017 by her own girlfriend who is a friend of my friend. Because of that I invest 5000 plus robot fee (Vantage Fx Pty) Acct 607168 For a while I made a good investment. My money receive a substantial profit. Then one day he said his transferring to another investment which is much greater profit. On July 2019… Read more

he invest my money to investor called Admiral Market 27198480 invest 14000 For a while the investment turnover is low. Then on between October to dec my money increase to 19000. Then when I check it on Feb 28 my money went down to 15000.so I ring [name removed] to collect what is left with my investment I told him my worry and concern but he said No live it there things will go up. I trusted him 7 days after I ring him I check my account and it only showing $20.40 left. I collapse and I said to my self what happen I told him my concern he did even bother to ring me what is happening. I know you will say I can check my daily confirmation but that's the problem I'm not receiving my daily report nor my monthly statements since dec to feb 2020 and I told him about this so many times and ring admiral but I'm not getting anywhere until Jan. They said I put them into spam but the funniest about that is I'm receiving all their advertisement or their newsletter in my email without any problem. I ask for the a copy of my investment statement since I started with Admiral .I seen that from the time I ask to collect my 15000. They start investing my money more aggressively. 3 days after that I loss 3000 then 7000 then another 3000 in 7 days I loss all my money 15000. Why is that. What happen to the robot that suppose to control the up and down of my share. I try to ring him many times by the time I talk to him. All he says that the market. He know my concern. His just a man who take your money and don't care what will happen to you. A user. I hope you can sleep knowing the people who trusted you and believe on you having a difficult time of their life and loss all the hard earned cash of their life. Never again [name removed]. Your a good talker . I trusted you

dishonest unethical business man greedy for your money on a product that doesn't fulfil his promise – I am very very disappointed with this dishonest company run by a very dishonest egocentric person [Name Removed]. I simply asked for a refund because he has lied to me on numerous occasions and charges people 1-2k when I paid 4k. the product also hasn't traded for me in a month and in the 4 months that I have had it for was only making 3% when he… Read more

promised 6-8%. If you want to take forex seriously, do your due diligence first. I've unfortunately wasted hard earned money on a selfish man and useless product. He promises the robot never risks large amounts though don't be surprised when you see yourself in a -30% drawdown. My friend on a small account with him is negative -$3000 running trades for the past 2 months. He yelled at me on the phone when I said i was considering another company. I got scared and give in to him. I do regret this, there are much better returns and cheaper prices. another reason I cant trust him is he promised to send historical data on 5 occasions all to which he never sent it and kept saying he would. I suppose this means he has a lot to hide. he pretended he had a myfx book verified account where he refuses to tell me the name off. He constantly would call me to get me tp bring him referrals to the product which of-course was another lie of his. He's done this to others as-well. [Name Removed] is a very hungry man who is clearly not making it in forex so ropes people into his oztel scam. I've asked him for a refund but his ego is too strong. I feel sick that I've referred people to this product because he was promising me more lies but I hope I have helped you to make sure you research first like I unfortunately didn't do enough of when he triggered me by yelling at me. He also lied when he told me I didn't have to pay tax on all forex income. He also pretended to me that he has an it department that monitors the trades 24/7 which turned out to be again another lie. upon reading other reviews on him Ive seen other people have lost money including a man losing 24k. The list goes on. I feel sick thinking of the man and how many people he's mislead.

Avoid at ALL Cost (Detailed, VERIFIED review, please read in full) – I have been a customer of OzTel Trading since November 2017. I initially purchased their full system at a cost of $3,500. It generated some reasonable profits for a while but then developed a massive drawdown and I had four margin calls in the one evening. My account balance at the time was around $27K. After a sleepless night, I transferred… Read more

more money ($8K) into the account next morning and fortunately for me, the market turned a few days later and I got out for about a $2K loss. After that, I stopped using the system as I’d lost faith in it. I wish I’d stuck with that decision.

After several months, my contact at OzTel, [Name Removed], told me they’d made a number of improvements to the system, so I decided to give it another shot. I started cautiously and things went well for a while and I opened a second account for my SMSF, (at a cost 0f $2,200). Things continued to go reasonably well until a few months ago, when I suffered huge drawdowns to both trading accounts. For one of my accounts, the system stopped trading completely, the other was still “managing” the trades. I called [Name Removed]’s mobile phone and left several messages but haven’t heard anything from him at all; I called their Brisbane office and got no information from the person who answered the phone. I left a message on their website asking to be contacted but this was ignored too.

As at August 2020, I had a drawdown (floating loss) of $33K in one account and $11K in the other. I withdrew as much money from my two trading accounts as the broker (Admiral Markets) would allow, to try to preserve what was left of my capital. Still no contact from [Name Removed] or anyone else. I’m not a professional trader and have a full-time job (which is why I wanted an automated system!) but found myself trying to get out of the mess that the system has created and which nobody at OzTel obviously gave a stuff about.

In early October it became clear I was fighting a losing battle and closed both accounts. I lost $4K from one account and $19K from the other. The only positive is that I can sleep better now because I’m not constantly worrying about how much more I’ll lose while I’m asleep.

Aside from the complete and utter lack of service at the time I needed them the most, the problems with this system are as follows: 1. It trades fairly large lot sizes at very high leverage (500:1) and when a trade starts losing money (and it will) the system initiates a “recovery” trade using the Martingale strategy (Google it if you don’t know what that means). In laymen’s terms, it places more trades in the same direction as the original trade but in much higher lot sizes, so it’s doubling and tripling down on the existing losses until it (hopefully) comes good. 2. Adding to the problem is that the recovery trades are taken while the market is still moving against your position (the wrong direction), so you’ll end up with bigger and bigger trades, all going against you and adding to your floating losses. 3. Worst of all, there’s no stop loss orders set for the larger recovery trades! The program just lets the trade/s run until the market turns and you’re saved, or you run out of money (like my friend) and your account is completely wiped out.

This is an exceptionally high-risk strategy, which sometimes requires more money than you’ll have in your account. If you run out of trading capital, you’ll get a margin call. At this point, all of your capital, and then some, is at very high risk. It’s quite simply a change of market direction (that hopefully lasts long enough for the “recovery” trade/s to claw back your losses) that will save your sorry butt, and not, as [Name Removed] would have you believe, due to any brilliance built into this highly risky trading system.

So, some OzTel customers may not have experienced a full-on drawdown of their account yet, but if you use the system long enough, it’s almost certain you will. The person who introduced me to [Name Removed] suffered a complete loss of her $19K account. I asked [Name Removed] about this and he couldn’t have cared less. He said she had an old version (like it was her fault that the “old” system was even more flawed than the later ones) and that she should be happy she’d made some money prior to her account being wiped out. I made the decision to get out, for the second and final time, but found myself trapped in the losing trades, with absolutely no support or assistance whatsoever.

Some time ago, [Name Removed] insisted that my friend and I move to a new broker. He also insisted this was for our protection, however I now believe it was really because he could earn a better commission from the new broker.

Or perhaps the real reason was actually more sinister than that… I recently learnt that market brokers usually place their customers into two “books”; A and B. As I understand it, traders on the A book (the profitable ones) have their trades go through to the open market, but trades placed by those on the B book don’t go through to the open market and the risk is taken by the broker in the expectation that the trader will lose money. The broker, having taken the other side of the trade, keeps the trader’s loss because the trade never made it past the brokerage… A person I was speaking to just recently, who’s involved in the industry, informed me that some IB’s (Introducing Broker, in this case, OzTel Trading) do a deal with the market broker when they introduce a new client, for a share of the brokerage fees and a share (of up to 50%) of the trader’s losses! I admit, I don’t know this for an absolute fact in the case of OzTel trading, but I can definitely imagine that happening. It would certainly explain [Name Removed]’s insistence that we switch brokers as well as his complete disregard for any customer who lost money – because they’d profit (a lot) from that! If that really is the case, it’s hard to imagine a more despicable act that a business could do to its customers.

One final point; ASIC advertised in April 2020 of their intention to deregister OzTel Trading Pty Ltd. You can check this with a simple Google search. Whatever the reason, this can’t be a good sign.

So, if you decide to go ahead and part with your hard-earned money in the hope of great long-term returns and back-up service from OzTel Trading in spite of reading this review, then good luck to you, because based on my experience and that of the friend who introduced me to OzTel Trading, you’re definitely going to need it.

Lost two accounts – With Oztel four years, first account I was told that the robots all had good risk management and that my money would be safe. Lost this in the first six months. Invested a larger amount after being told they had improved their robots. Three years later the market drawdown again took my balance to zero. Very disappointing. They have moved to… Read more

Admiral Markets over the past couple of years. Previous brokers independly informed me that there were clients losing large somes of money. When you ask they will say that the robots have been improved. This is what I was told many times. True story. They have improved the robots but you can not control or predict the market. I was hoping this would assist me with less stress in trading and sit back and watch my account grow. Not once but twice lost everything. Never think your money is safe. SO much for promises

oztel trading – I bought the program in 2017 October , I started with my account of $1000 after 3 months I topped it after earning around 7% on average 2 years later its still going strong and I can recommend this for everyone . I have put money in and taken it when I have required . I strongly recommend Oztel the customer service is fantastic like the product support

Oztel Trading – Started with Oztel in September 2019. Already in my first month I have generated an 8% profit on my starting capital. Best thing, I have done with my money in a long time. Only wish I had of found them sooner.

AVOID at all costs – The company is operated by skeleton staff in a shared office in QLD, they're rarely contactable, the girl from the shared reception will tell you they are out all of the time and will just take a message. Company provides Forex trading bots and promises 12% returns on capital per month through their trading bot platform. The trading bot churns… Read more

hundreds of micro transactions per month giving the firm commissions on each trade. I was told they had programmed stop loss parameters and safety measures in place which would only make small trades and small losses, meaning you won't loose your money overnight. The first few months went ok and slowly profits just got lower and lower, after 6 months i got wiped out overnight, completely emptied. The product was purchased on the proviso that I had been assured by [name removed] this was not possible with their software. When contacted there was no explanation and I was told it was the risk of using the software. That's all well and good, but don't promise your customers that the software has parameters in place when there is literally nothing preventing this to happen. Do not waste your hard earned money. these guys are selling an unfinished software and using your money to make money from micro transactions and commissions.