Apple investment company

[avdds1959]

I was dumb enough to get sucked in by the sales spiel. Constant & consistent returns guarenteed etc.
After 9 months I have made a loss of 50%. Nothing at all like they claim!
At this rate my capital will be %0 long before the 24 months is up.
Was told my request for money back wasn't valid as I hadn't traded for 24 months.

Has anyone made a complaint to the Customer Relations Officer or to ASIC?
Perhaps a group complaint might be the way to go.

 

[lovenlust72]

Think yourself lucky you have only lost 50% and get out now!
If you want something that will make you money and you cannot go backwards get in touch with me. I have found something much better.

 

[moksha99]

Before touching any tipster, newsletter, software salesperson I would ask these hard questions.. even if one answer is evasive walk away
- Do you have an AFSL .. DOn;t believe if they say we don;t need one ask ASIC
- Even if they have it check if they have it on own or they are just a Authorized Rep of other license holder ( now a days it seems it is easy to Rent a licensee)
- DO ASIC website search
- Ask if they really trade real money and if they do where is the evidence ( actual broker statements not just a glossy brochure
- If they don;t they why not .. SIMPLE if you know how to make money why would you sell the "System"
And if it is so good why don;t they start a ASIC registered managed Investment scheme? reason they don't is because there will be lot of scrutiny

I mean the big banks and brokers and Fund managers with millions of $ and resources can't guarantee of their own managed funds performance...

Most of these companies will not only ignore the questions but insult you with a counter question saying Don;t you want to be successful? .. this is not for you ... (yah sure because I am not one of those gullible people you wish to scam)

 

[Nerdie]

...and according to previous posters you can forget about getting your money back.

Hi
I just picked up on your post.
ASIC have been talking with traders who have put in complaints against Apple Investment Company. The whole thing has been referred to a special unit, but it's not a fully fledged ASIC investigation yet.
ASIC said that under the AFSL requirements the AFS Licencee is kind of responsible if the Representative does something wrong. So it sounds like Mark Power Financial will be doing something about the refunds if the trader's evidence stacks up. That's my interpretation. It's better if all AIC traders put in complaints and all the information they have about what happened as ASIC will contact them. The sooner the better
Also Forex Peace Army have been talking with a FXCM rep about the software for Fx Calibre.

 

[Nerdie]

I have been using the FX Calibre system now through Apple Investments since May 2010. I purchased the $9.6k deal with a 12 month gaurantee. The salesman was very persistent and I joined the program on the basis of the automatic trading system and that I needed to do very little. Just set it with the specs sent to me by the customer service people and it will do all the work to grow. The promise is a 13.5% growth on average per month over 12 months... that's 162% growth according to my calculations.

Since opening the account my balance has dropped every month. It has since drawn down by 23%. This program has not yet delivered a positive return in any month. I have no faith that this package will actually ever deliver on the promise. I face the real posibility that I might have to lose all my money before I will be able to claim my guaranteed money back. After speaking with the Apple people and their less than amiable responses, I do not believe that they will make good on their gaurantee when the time comes. They will find some fault on my part.

I have to now make a decison. Do I stop trading and cut my losses or do I keep going and risk the full amount of money I invested in this thing?

If anyone is on the verge of making a decision about Apple Invetements and FX calibre, I strongly exhort you to challenge the offer. Realise you pay for an education package. The education package is a set of poorly written pdf's and terminology that is all complex theory that is way beyond the usefulness for the average investor. It does not help you much to understand how to practically apply the theory. Once you have purchased this package, you then have to open a bank account and add money to trade with. You need to deposit $10k in the the account to earn the gauranteed rate.

Now, if you pay $10k for the education package and make a $10k deposit, then your total investment is $20k. The gauarnteed return of 13% per month on average is on the $10k you deposit. But if you include the $10k for the education package then the return is only about 2.58%!! A huge difference from the glossy number quoted. Still better than a bank but one hell of a lot more risk.

This sort of marketing is deceitful. In my opinion if someone uses numbers to paint a glowing picture without necessarily being untruthful, then they do not have much integrity.

Someone asked if this Apple company was a scam. Well, if it isn't, then it sure is a close cousin to one. On reflecting back to the very first call i received from these people, I now recognise the signs of a confidence trickster... persistence, they are your friend, all promises, care and sweet-talk. Once they have your money, they don't want to know you.

If you have been approached to invest in Apple and are having doubts or you have that gnawing gut-feeling that it is too good to be true, then may I suggest: don't venture into it!

Yes, Apple worms. If you guys are reading this, I believe you are just con-artists!

I wish I spent the time to think through this before I gave them my money. It has been a costly mistake. I will continue to push for my money back but I don't hold out much hope. If my investment by some miracle does turn around and deliver the promise then I will return here and report it.

Does anyone out there know if there is any ombudsman or watchdog orgainsation out there with whom I can lodge an offical complaint?

There is the Financial Ombudsman Service and ASIC. I found them both receptive to the Apple Investment Company experience. ASIC are dealing with our complaints now. If you haven't done so just put in a complaint to ASIC. If there are enough complaints it makes it better for all of us. I think if we all look out for other former AIC traders and let them know we may get our money back. Other organisations that I wrote to treated me like the only person on the planet to have a problem with Apple Investment Company. I know there are a lot more people, but ASIc will only know if everyone complains to ASIC.

Good luck with your claim

 

[Rdsa]

Hi
I have taken Nerdies advise and have made a formal complaint to ASIC as I to have for 18 months had a negative return each month. my expectations were only 0.5% return per month not a 80% loss over the 18 months.
My advise make a claim with AISC.
Good luck

 

[bhurulechwe69]

Has anyone tried FXtrading with the FX Calibre Education System

yes they suk. Was contacted by rep who promised the same - min 6% returns if left on auto. I started out with AUS$5000 + $3000 to buy software. In less than 1 yr I lost more than 50% going steadily down from 5k - 2K. That's when i stopped trading. During this time, I was in contact with Shayne, who kept dangling the carrot and making excuses, and getting me to change settings. Still made more losses. Then I wanted to bail out and be refunded the $3k for the useless software.They wouldn't refund me, so now I sit with $3000 FX calibre on my computer but wont trade. Flipping a coin to place an order would return the same result and be much cheaper

My advice- DONT GO NEAR FX Calible or APPLE Investmennts.

 

[bhurulechwe69]

There is the Financial Ombudsman Service and ASIC. I found them both receptive to the Apple Investment Company experience. ASIC are dealing with our complaints now. If you haven't done so just put in a complaint to ASIC. If there are enough complaints it makes it better for all of us. I think if we all look out for other former AIC traders and let them know we may get our money back. Other organisations that I wrote to treated me like the only person on the planet to have a problem with Apple Investment Company. I know there are a lot more people, but ASIc will only know if everyone complains to ASIC.

Good luck with your claim

When I was first contacted by Apple Investments, they quoted having a AFSL licence # 332428 and AFSL Rep # 341564. The fax transmission from them dated 30/01/2010 has these numbers. I contatcted Applle Investments to send me a copy and Shayne told me that they no longer use that nuumber, and it is not a requirement.- yes it is. Any person offering financial advise needs to be AFSL licenced!!

I will contact ASIC Ombudsmen and so should all of you that have had the same negative experience with these clowns. If enough people complain, we will be listened to.

:idea:

 

[Stonewall]

Hi,
I was sucked in to The Apple Investment Company sales pitch. It's an absolute rip off and I would strongly advise against doing any business with them.

 

[Schmatt]

Apple Investment Company were banned from Trading by ASIC. Stone Key Group are buying up toxic debt. to get on board contact them at [email protected]