Andy Ireland’s AITST21 is a financial trading based opportunity in which the eponymous Andy Ireland offers to take control of your investment and trade on your behalf.
What Andy Ireland offer for Forex Traders?
In Andy Ireland’s AITST21 (and also runs AndiTradeSafe), self-taught trader Andy Ireland offers you the chance to have him trade on your behalf for a small commission. Andy Ireland’s AITST21 is claimed to be a really simple and easy way to make money, allegedly requiring no work from investors, merely capital to be traded. Andy Ireland doesn’t actually handle your money, instead you make use of a piece of software from 4x Solutions that allows your account to copy what Andy Ireland does. This does however mean that you have to sign up to an approved broker in order for this to work. There are 4 options available, ETX Capital (the broker Andy uses and the one that you are strongly encouraged to use), FxPro, City Index UK and FXCM. Interestingly, whilst it is not necessary, Andy Ireland does encourage you to sign up for his learning course AITS as well. This is to the extent of him saying that he will only notify users of his “intentions” in terms of withdrawing, changing brokers etc. if you are signed up to this.
How does the product work?
As I have mentioned, all trading carried out through Andy Ireland’s AITST21 is based on Andy Ireland’s own experiences as a trader which he has been doing since 2007. Much of the trading strength that Andy Ireland uses is based on a method that he employs of leveraging accounts so that they can trade with more weight than they actually have (seemingly a part of the reason certain brokers are recommended), the same methods that he teaches users about in his training course.
What is the initial investment to Andy Ireland?
The initial investment into Andy Ireland’s AITST21 can be anything that you want (note that brokers will have a minimum deposit amount) however the recommended investment is £20,000 (if you make a £14,000 deposit into the ETX broker, they will apparently make this up to £20,000). After this you pay a 15% commission on any profit that Andy Ireland’s AITST21 makes. If you go into the red, you don’t pay anything until your balance is back in the black. There is also a £23 per month cost for using 4x Solutions. If you opt to sign up for the heavily pushed AITS course, this is an additional £99+VAT per month.
What is the rate of return?
The core claim from Andy Ireland is that Andy Ireland’s AITST21 will make a 10% profit per month with the claimed end game result to turn £20,000 into £1,000,000 over the next four years. He also says that since the launch of Andy Ireland’s AITST21, people have made “£1000 a week doing nothing” – Really? There is no proof of that anywhere on the sales materials.
Conclusion on Andy Ireland as a Forex Trader?
There is certainly a lot to take in with Andy Ireland’s AITST21 and on the surface it looks like a great investment opportunity. Simply sit back and watch the profits come in however there are a number of things that I find rather worrisome.
For example, the fact that you aren’t really getting what I would consider to be a complete product. The way Andy Ireland pushes his training course you would think that it is a necessity and honestly, to a degree it is if you want to get the most out of Andy Ireland’s AITST21. My issue with this is that if you are paying 15% on earnings, why should you have to pay even more to receive full advice?
If you wanted to garner a better understanding of Andy Ireland’s trades, that would be one thing but it is so much more than that.
Secondly, I am rather put off by restrictions on the brokers. This is a method that I have seen often employed by binary options products in which underperforming software is given away for free on the condition that you register with a “trusted” broker (usually whoever is paying the highest commission fee) which in turn gets the marketer a commission from them.
This combined with the way AITS is pushed seems like a rather desperate way to milk every penny from you rather than a legitimate operation.
My final concern lies in the fact that neither Andy Ireland, nor his company, AITradeSafe Limited, seem to be registered with the Financial Conduct Authority (previously the FSA). Whilst this isn’t necessary, there are plenty of smaller trading companies that are registered and authorised by the FCA for the peace of mind that that brings (as it means that the financial ombudsman can intervene with complaints, etc.).
Andy Ireland also runs his AndiTradeSafe service from a PO box, which is a big no-no in my opinion. Would you really want to invest with somebody and not even know their real contact details?…
With that in mind, I think that I would be rather wary about Andy Ireland’s AITST21. There is a lot on offer on paper and the marketing certainly sounds enticing but there isn’t any evidence that I would call substantial, particularly in terms of showing that the claimed profits are attainable.
With that in mind, I would definitely treat this with a large degree of caution and ensure that I did my research before investing anything, especially the £20,000 that the service is based around.
If you have had any dealings with Any Ireland, the Forex trader, or the services he offers, then please post your comments below.