# Anyone used www.eqtrading.com.au? (EQ Trading)



## mattryanshares (11 December 2010)

Just getting into shares again. I tried buying managed funds through financial planners right before the GFC and lost 6 figures. Im only now just getting whats left of my money as the funds have been suspended. 
Im now looking at doing the research my self and learning slowly. How ever ive been bugged by eq trading for sometime. 
They offer a program and tuition for 10k and you pay another 6k out of your 1st years profit if you make 20k in the 1st year. It screams scam but i cant find any negative remarks by doing google and the likes searches? Does this or anything like this work? Is it a good place to start for a newbie???
Feel free to be brutal.


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## professor_frink (11 December 2010)

*Re: Anyone used www.eqtrading.com.au (Im new)*



mattryanshares said:


> Just getting into shares again. I tried buying managed funds through financial planners right before the GFC and lost 6 figures. Im only now just getting whats left of my money as the funds have been suspended.
> Im now looking at doing the research my self and learning slowly. How ever ive been bugged by eq trading for sometime.
> They offer a program and tuition for 10k and you pay another 6k out of your 1st years profit if you make 20k in the 1st year. It screams scam but i cant find any negative remarks by doing google and the likes searches? Does this or anything like this work? Is it a good place to start for a newbie???
> Feel free to be brutal.




Just had a look at their website - it's barely got any information on it to try and figure out what they are trying to sell you.

What information have they given you when they were bugging you?


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## mattryanshares (11 December 2010)

*Re: Anyone used www.eqtrading.com.au (Im new)*



professor_frink said:


> Just had a look at their website - it's barely got any information on it to try and figure out what they are trying to sell you.
> 
> What information have they given you when they were bugging you?




Some how they got my email address and have been sending me there continual great trades data. 
I need to start somewhere and im going to listen to a webinar on tuesday. 
From there pitch it seems to be a program that picks trends and you follow there formula and he presto your an immediate winner. You know all the positive feed back on there websites means you cant loose!!! They offer guidance and all the rest as well. 

So I thought maybe someone on this website may of heard about them or known someone who had used them and proved all there promises as false? Or atleast misleading?


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## pierrebfg (11 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



> They offer a program and tuition for 10k and you pay another 6k out of your 1st years profit if you make 20k in the 1st year. It screams scam but i cant find any negative remarks by doing google and the likes searches?




If you are paying 10k for a program and some tuition and another 6k if you make 20k profit in your first year what do you pay if you don't make 20k profit in your first year? Also what capital do they expect you to start with to make this so called 20k profit in your first year? Are there anymore ongoing costs after the first year?
I also had a quick look at the site and some of the client testimonials are pretty hard to swallow. 
Have a read of this one below.

*I have been training with EQ Trading for about 12 days I am so confidant in trading shares now after having absolutely no experience in the stock market I can’t thank EQ Trading and David enough.

The training modules along with the training procedure, the personal one on one sessions with David and the webinars are key factors of the overall training that make learning how the stock market works and trading shares so EASY!

I feel that with the knowledge and skills that I now have will change my life forever.*

Now seriously 12 days and you can say you have the knowledge and skills to change your life. 
I think you should trust your own gut you said this reads scam all over it. Sounds too good to be true IMO.

I'm also a newbie have placed a couple of trades but before I have dipped my toes in I have done some courses on the asx website (which are free), read up on some posts here, doing my own research on companies, reading books such as intelligent investor & sell & sell short plus more. 
IMO I wouldn't pay 10k for this. If it was really this easy wouldn't everyone be doing it?


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## mattryanshares (11 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



pierrebfg said:


> If you are paying 10k for a program and some tuition and another 6k if you make 20k profit in your first year what do you pay if you don't make 20k profit in your first year? Also what capital do they expect you to start with to make this so called 20k profit in your first year? Are there anymore ongoing costs after the first year?
> I also had a quick look at the site and some of the client testimonials are pretty hard to swallow.
> Have a read of this one below.
> 
> ...




Yeah i know i guess i just wanted someone to get up here and say, or PM if there embarrassed.. I did this and it doesnt work. Then when i get the sales pitch i can say i did some back ground checking and iwhat your telling me isn't the case. At least no one has said "Hell yeah it works!!!"Thanks again.


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## Wysiwyg (11 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*

"Six figure sum lost? Somehow they found my e-mail address?" Questioning (promoting?) the facts about (yet another) dubious website. 

You smell.


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## mattryanshares (11 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



Wysiwyg said:


> "Six figure sum lost? Somehow they found my e-mail address?" Questioning (promoting?) the facts about (yet another) dubious website.
> 
> You smell.




Mate i wish!!
Australian unity acorn microcap trust trust   $10k
AMP small companies (Class A) Fund           $10k
Ausbil Aust equity                                    $10k
Merril Lynch wholesale aust share fund        $10k
Perpetual geared (W) Aussie Pool (Sup)       $10k
CFSMIS- Global resources fund                  $10k
Platinum asia fund                                   $10k
Premium china fund                                 $10k
Recap enhanced income fund                    $10k
Maquarie direct property fund                       $10 k

all borrowed through a line of credit account and invested approx 22 Nov 07!!!

Also I had to get some tax relief so they sold i bought 50k in wine, truffles, Gunns in tassie and sandlewood in WA!!!!

After much screaming and my finalcial adviser left i went with a new one....same firm and put another 50 K in about 4 months later and freaked and sold everything when the tha asx was about 4200 from memory.

When you look up the dictionary and see the word sucker, there has to be my photo.

I own my home work offshore had never been in anything except property and new nothing. I know what i borrowed and what i still owe and its well over 100k!! 

With relation to finding my email address i dont know i can forward them to you and i can name the financial planners who i paid to get me in this mess but im unsure if im allowed to do that on this site?? Mods PM me and ill post there names up.


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## professor_frink (11 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



mattryanshares said:


> With relation to finding my email address i dont know i can forward them to you and i can name the financial planners who i paid to get me in this mess but im unsure if im allowed to do that on this site?? Mods PM me and ill post there names up.




No need for names

The thing with a lot of these sorts of courses is that they are generally very overpriced. You'll get just as much of an education by spending some time reading through the forum here and by asking some questions as you go along. Really no need to go and spend $10K+


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## So_Cynical (11 December 2010)

*Re: Anyone used www.eqtrading.com.au (Im new)*



mattryanshares said:


> Some how they got my email address and have been sending me there continual great trades data.
> I need to start somewhere and im going to listen to a webinar on tuesday.
> From there pitch it seems to be a program that picks trends and you follow there formula and he presto your an immediate winner. You know all the positive feed back on there websites means you cant loose!!! They offer guidance and all the rest as well.




Wow sounds like a great way to make money  especially for time poor people like you and me and lets face it we all do need to start somewhere and giving theses guys 10 grand will be money well spent when all the easy dollars start rolling in.

I feel so relieved now that ive found the answers to my financial freedom and to think ive struggled all these years working crappy jobs when all i had to do was hand over a lousy 10K  hey i wonder if i sign up twice with 2 names do i make twice as much?

Happiness....here i come.


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## Julia (11 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*

So Cynical, sympathise entirely with your post, but hope it's clear to Matt, the OP, that you are being sarcastic here.

Let's remember that he's totally inexperienced and could imagine you are serious.

Matt, So cynical is very rightly pouring scorn on what seems like the archetypal scam.  Be very careful.


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## mattryanshares (11 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



Julia said:


> So Cynical, sympathise entirely with your post, but hope it's clear to Matt, the OP, that you are being sarcastic here.
> 
> Let's remember that he's totally inexperienced and could imagine you are serious.
> 
> Matt, So cynical is very rightly pouring scorn on what seems like the archetypal scam.  Be very careful.




Cheers Julia but i did pick up on that.


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## Wysiwyg (12 December 2010)

*Re: Anyone used www.eqtrading.com.au (Im new)*



So_Cynical said:


> Wow sounds like a great way to make money  especially for time poor people like you and me and lets face it we all do need to start somewhere and giving theses guys 10 grand will be money well spent when all the easy dollars start rolling in.
> 
> I feel so relieved now that ive found the answers to my financial freedom and to think ive struggled all these years working crappy jobs when all i had to do was hand over a lousy 10K  hey i wonder if i sign up twice with 2 names do i make twice as much?
> 
> Happiness....here i come.




My thoughts exactly. 100 uhhh clients * 10 k is an easy million. Much easier than trading for a living. Just need the gall to do it. Wanna try SC? :


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## So_Cynical (12 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



Julia said:


> So Cynical, sympathise entirely with your post, but hope it's clear to Matt, the OP, that you are being sarcastic here.
> 
> Let's remember that he's totally inexperienced and could imagine you are serious.
> 
> Matt, So cynical is very rightly pouring scorn on what seems like the archetypal scam.  Be very careful.




I reckon Matt is about as serious as i am.



mattryanshares said:


> Mate i wish!!
> Australian unity acorn microcap trust trust   $10k
> AMP small companies (Class A) Fund           $10k
> Ausbil Aust equity                                    $10k
> ...




I hold PTM shares, PTM manage the Platinum Asia fund...now this fund is one of the better performing PTM funds, while this fund was hammered in 2008 (29%) i cant find any evidence it was suspended...in fact at the worst point of the GFC this fund was 14% in cash.

http://www.platinum.com.au/Quarterly_reports.htm
http://www.platinum.com.au/arc-pt.htm

Google cant find anything about any Platinum managed fund suspending redemptions or payments at any time over the last 3 years....more than happy to be corrected if im wrong.


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## mattryanshares (12 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



So_Cynical said:


> I reckon Matt is about as serious as i am.
> 
> 
> 
> ...




No they werent all suspended thats just what and when i got into .
One thats just being made available now is the charter hall fund. I think it was the Maquarie direct propert fund. They have just put out a letter that you can now apply to get whats left of your money back.

Charter Hall Direct Property Fund -W/Sale (Susp) (MAQ0448AU) Price Date: 09/12/2010 
Purchase Date Holding Ref. Number Units Held Available Units Cost Current Value Profit/(Loss) 
27/12/2007 ****** 7373.750 7373.750 $9,900.00 $4,694.13 ($5,205.87) 
13/02/2008 ###### 77.100 77.100 $101.04 $49.08 ($51.96) 
12/05/2008 ****** 25.066 25.066 $33.09 $15.96 ($17.13) 
14/08/2008 ###### 134.551 134.551 $171.58 $85.66 ($85.92) 
Asset Total 7610.468 7610.468 $10,205.71 $4,844.83 ($5,360.88) 
This doesnt cut and paste real well but $10205.71 invested is now worth $4844.00
The best part its been suspended for 2 years now and still depreciating. You cant sell it and it becomes worth less every couple of months. Ill never touch managed funds again!!!


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## professor_frink (12 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*

Just having another look at this website. A couple of points.

Not one of the people behind this program has a professional trading background.

They don't appear to be licensed at all.

A bit of a hunt on google came up with this link:

http://www.eqtrading.com.au/newsletter/newsletter40.html

So it would appear they are trading CFD's. Most of the trades seem to be fairly basic breakout/breakdown type trades, and they are using a fair bit of leverage in an attempt to juice the returns a little bit., and risking more on each trade than most people would recommend.

Really can't see the point in spending 10K to learn from unlicensed people who don't have a background in the industry, when you could spend less than 1/10th of that purchasing a few basic books, some software and data.


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## mattryanshares (12 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



professor_frink said:


> Just having another look at this website. A couple of points.
> 
> Not one of the people behind this program has a professional trading background.
> 
> ...




Yeah thanks proffessor. As Ive said i got into the market at the worst possible time. As a result i cant grasp the idea of paying financial planners to advise you when there advice can loose money as well. So ive finally got to a point where im going to give shares ago again but if i loose money it will be my fault and at least i wont pay someone a commision for doing it. 
Id been getting there emails for some time and decided to listen to a webinar. I new there would be a great sales pitch and it just sounded to good to be true. So i set out to disprove it before i listened to there presentation. In doing that i found this website and you guys. 
I think ill probably annoy a few with some stupid questions but this post has given me the strength to tell me that i dont want anything to do with this course or ones like it. Just the fact alone that 160 plus people have looked at this thread and no one has said "oh yeah there good" is enough for me to let it slide especially as this is a shares website. (I also posted this on a dirtbike website and no one had heard of them and thats how i arrived here). Let alone all the other obvious points that have been made. 
So thanks heaps for the confidence boost i needed.


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## professor_frink (12 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



mattryanshares said:


> Yeah thanks proffessor. As Ive said i got into the market at the worst possible time. As a result i cant grasp the idea of paying financial planners to advise you when there advice can loose money as well. So ive finally got to a point where im going to give shares ago again but if i loose money it will be my fault and at least i wont pay someone a commision for doing it.
> Id been getting there emails for some time and decided to listen to a webinar. I new there would be a great sales pitch and it just sounded to good to be true. So i set out to disprove it before i listened to there presentation. In doing that i found this website and you guys.
> I think ill probably annoy a few with some stupid questions but this post has given me the strength to tell me that i dont want anything to do with this course or ones like it. Just the fact alone that 160 plus people have looked at this thread and no one has said "oh yeah there good" is enough for me to let it slide especially as this is a shares website. (I also posted this on a dirtbike website and no one had heard of them and thats how i arrived here). Let alone all the other obvious points that have been made.
> So thanks heaps for the confidence boost i needed.




no probs

Best of luck with it all!


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## mattryanshares (15 December 2010)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*

Ultimately i listened and watched a webinar from eq trades. 


It seems as though by paying 10k you get access to there website and there platform. You dont get a program so if there website shuts down i guess you have nothing?
They do also offer training though in what im not sure it was a bit over my head and they leant on the heavy sell. I think it was to use there program thats on there website???
It sounded like the guy was reading from a book. 
I wasnt allowed to see live info or let them give me info on there up coming trades and see how they performed. Only on past trades and how much money thay had made???

They said they had over 100 clients yet the only info on them good or bad is on there own website.

I asked for a gaurantee that i would make 20k in the 1st year and there reply was that if i didnt i'd wouldnt have to pay the extra 16k on top of the initail 10k??

i said thats not a gaurantee a gaurantee is if i dont make 20k in the 1st year they would refund my money. They didnt think this was a good idea and we parted ways.......


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## mattryanshares (19 January 2011)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*

These guys rang again today and offered me there course, program and resources for Half price!!!! Wow what a bargain, obviously not much demand for the superior program at the moment even though lots of stock brokers apparently sign on every week yawn!!!

Asked if i was interested i said yes providing they send me an email every morning for a month telling me what trades they recommended prior to the market opening.

They claim 10k would be 20k in 12 months.

So i said providing they send me the emails and ill paper trade them and my 10k is worth 11k or more at the end of 28 days i'd sign up..................

Unfortunately that wasnt possible and the only whay i'd get the info was to sign up........thanks but no thanks....click!


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## builder2818 (19 January 2011)

*Re: Anyone used www.eqtrading.com.au? (I'm new)*



professor_frink said:


> Just having another look at this website. A couple of points.
> 
> Not one of the people behind this program has a professional trading background.
> 
> ...




Am I reading these scammers website correctly? Looking at their short trades, their stops seem to be lower then their entry price. Their long trades look like they have been entered correctly and the stop listed as being lower then the entry price. Not that I believe the results one bit, but if they can't fudge their trading results properly by showing their stops higher then the entry price for their short trades, what in the hell would they know about trading? Then again, they target people with no experience and they probably only see the profit column which is just like every scam out there - never has a losing trade.

Then again, on looking closer they are all messed up - some look ok, while others are plain wrong.


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## krishm (25 July 2011)

*Re: EQTrading.com.au is a scam*

wher can i get this software for free . online 





GoodArticles said:


> I have encountered EQ trading, which are offering huge fees for an online trading software program and training for $15,000.00. They spent 2 hours on the mobile,  to try to convince me in there scheme, stating that I won a $10,000.00 discount,  but I had only won second prize which was only to pay $5000.00 for the VIP scheme. There cold call selling was convincing to a newby, however I have been scammed before and smell a “too good to be true offer “when I hear one.
> I stated to them that there would be no way that I would buy a product without testing it first. After 1 hour of cold call selling discussions and his failure to convince me, to buy now,  EQ Trading decided to agree with me to trial the software. However I had to sign the direct debit form too. This was the assurance that the whole deal was a scam. I told EQ Trading that why would I sign this, and we entered into a battle to convince the sign the direct debit form or I won’t get the 7 day trial. They expected me to show that I had money,  via a bank account screen dump. I told them that I will be researching the internet, only to find reviews made by EQ Trading about how good they are. However no independent reviews were made about them anywhere else.
> I carried out extensive research on the internet, with over 5 hours work, only to find that there reviews were self constructed by EQ trading and that no other negative mention was made, until I seen your enquiry.
> From my assessment of their product, is that it’s a totally free program, sold as a rip off amount,  to make fast cash,  by EQ Trading company  directors. The live streams of $69 per month is a joke, especially that it’s an online program anyway, and most other live stream services offer at $10.00 per month anyway.
> I have reported them to ASIC , and warnings are going out now to stop these quick rich schemes in the EQ Trading company’s director’s favour,  to be stopped. I am sick of Aussie battlers scammed by these thoughtless criminals. Together we can protect our Australian consumers from rip-offs like this one.


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## Peter Klisch (5 September 2011)

My name is Peter Klisch and I am the Managing Director of EQ Trading. I'm writing this post in response to some disparaging comments in previous posts. One particular poster mentions that our software is available for free. That is not the case and incorrect. The same poster has mentioned that he has reported EQ Trading to ASIC. ASIC are fully aware of our business and have copies of our training material and much more information that we have provided to them when we commenced this business. ASIC do not require us to hold an AFSL as we do not provide financial advice. We have correspondence from ASIC to confirm this.
EQ Trading is not a scam. We are a legitimate business providing the tools and education to enable people to trade the financial markets. We provide our software the EQ Trader along with training modules, live training webinars and one-on-one mentoring. Our clients are very happy with our services and the posts on this thread that are criticizing our business are all from people who are not our clients and in fact are hiding behind anonymous avatars. I have registered on this site under my own name. We allow our prospective clients to take on a  trial of our software and to learn about our services. From what I read on this thread, there does not appear to be a post here from anybody who has taken up this offer. Hence, in my opinion, the posts on this thread are "flying blind"
My personal email is info@eqtrading.com.au if you have any questions or comments. 
Until an individual has become one of our clients, they are in no position to make disparaging comments. The poster to which I referred earlier, mentioned that he had been "burnt" before by another company, but is it fair to take that anger out on us, when we have done no harm to him?


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## effraye (6 October 2011)

Theres no mention of an AFSL licence. I would run run run run!


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## skc (7 October 2011)

It is EXTREMELY difficult to take any finance company based on the Gold Coast seriously....


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