Apple Investment Company - Fx Calibre

[Leo Bill]

fx calibre

hello Kiwitrader

Apple Investment Company is all promises and guarantees, that is until you want that '24 month unconditional guarantee' because their fx calibre software doesn't work. It is amazing how a 'guaranteed' monthly return of 13% ends up a negative return as soon as you start trading.

 

[Pharaoh]

I wonder if Apple Investment's rep will return and try to fix this. Maybe the two of you should send the company a little note about how they fixed one issue and have 2 more to go.

 

[Leo Bill]

apple investment company's latest response

i have taken Pharaoh's advice and contacted Shane Andrews from Apple Investment Company

here are the emails sent and recieved

I have followed the advice of a high ranking member of wwwforexpeacearmy.com

And am asking for a resolution to my complaint of not receiving my refund for your FX Calibre software



Another member received a resolution from Apple Investment Company after the intervention of Free Forex Trading Community With Forex Signals And Broker Reviews

And the Army suggested contacting you again



Yours truly,

Leo Bill


Hi Leo,



As previously explained you are not entitled to a refund after trading for a minimal period and deciding that you can generate more profit in another field. I am certain that if you explain you reasoning with the forex peace army they will agree with Apple Investment Companies decision.



Regards,



Shane Andrews

 

[Nerdie]

Apple Investment Company owe me $9,600 plus costs

In brief I have sent a report to the Financial Ombudsman Service regarding the money owing to me by Apple Investment Company for software that they sold me in February 2010. Apple do not reply to correspondence in writing, either email or fax. The software was purchased on the understanding that it could be used in a "virtual" server framework, independent of my solar power and satellite internet at home. When I finally asked the right question in August last year I learned that this "virtual system" didn't work. I asked for my money to be refunded and the consultant said he was going to ask someone about it. I never heard back from him despite my sending him correspondence on the matter. Up to that point Apple Investment Company consultants had repeatedly encouraged me to trade using the FXCalibre software even though they knew from the first conversation in February 2010 that it would not work on my internet system and I would lose all my money.
I eventually had a three way phone conversation with a representative of Apple Investment Company in the presence of an accountant and mutual acquaintance. The AIC said there were software reasons that I had to understand. That was not a satisfactory answer as I had paid the money to AIC and as I understood it they had to refund that money.
I have subsequently written other emails and sent a fax to AIC and even marked it to the attention of James Peters, mentioned in this site as helpful.
I have not even had a read receipt.
In frustration I have sent the entire report, with all names included and details of correspondence and conversation to the FOS in Australia.
I also had the pleasure of speaking with a financial investigator who is looking into the dealings now of Apple Investment Company.
I am under the impression that I won't see my money again as Apple is quietly disappearing.
The curious thing is that the same representative to whom I spoke on the phone in December offered me the opportunity to come on board with KPI Capital/ Global Macro Fund in January. He did this because of the problem I'd had getting results with Apple Investment Company, and would waive the entry fees. It struck me at the time that was odd - unless it was part of the same operation??
There is a general feeling around the area that KPI could well be Apple Investment Company Mark II.
Does anyone have anything they can add to shed light on this?

 

[Nerdie]

Further on KPI Capital Global Macro Fund

I requested redemption of my investment with KPI Capital on 4th February 2011 via the fund manager who is looking after my investments. I received an email from him mid April to let me know that I can't have the money until mid July 2011! The understanding I had was that money can be withdrawn quarterly provided that the request is received in writing (it was) before the end of the quarter.
I have rechecked the wording of the product disclosure statement. For some unknown reason Australian Mutual Holdings for KPI Capital are not allowing me to have my money until July. I have not been able to get a satisfactory answer for this. The total amount is around $35,000 - I can't imagine this making much of a dent in their investment operations.
This failure to receive a satisfactory answer is the sort of problem I have also encountered in dealing with Apple Investment Company. I'm wondering what it takes to get better customer service results from investment companies?

 

[Nerdie]

Leo, the standard answer from Apple Investment Company is to trot out their contract conditions etc etc legalese blah blah. Excuse my lack of respect for their rules. It's a smoke screen. They obviously still believe their own mythology - that they are so teflon coated that they can break the law and still use their contract to deprive you of your refund, and no doubt other rights as a consumer. And Apple Investment Company through their representative, Aaron East, broke their contract with me.

At least you got a reply, which is more than I've had on the subject. No doubt they were so disgusted with me for not even attempting to use their software and thus not sending them any trading "rebate" money gained from everyone else who traded through their agreement with FXCM.

My $300 minimum deposit to open the "education package" ie trading platform, despite their "encouragement" to deposit more was refunded by FXCM, who were prompt and courteous.

Apple Investment Company just ignored my many attempts to get the money returned. Eventually they will no doubt come up with some spurious excuse e.g. I sent it to the wrong email address (it went to several), they didn't know who I was (I spoke with them on the phone initially and then put it in writing), their email server was down (I faxed it as well), asked them for the wrong amount of refund (true - now fixed), didn't provide a copy of my receipt from them (I didn't get one), I should have read the contract (was there a contract? I didn't get a copy of that from them to read through prior to signing on or paying money for my consideration), you should know about the cooling off clause (was there one? where? I know there's supposed to be one) and as for the fine print on the FXCM contract, could anyone read all of it after printing it out without a magnifying glass. Is it just that I'm getting too old to safely purchase online without a lawyer at my side, or was there the safe assumption that no one was going to bother reading so much fine print? Not everyone has 20 20 vision!

Apple Investment Company Pty Ltd were not available for comment. I figured they'd gone bust, but the ASIC search showed them still registered. Hmmm.... lying low, I concluded.

So I cc'd my emails to the US parent company as well as customer service - apparently no one is home over there either !! Probably off skiing somewhere.

Recommend you have a look at Steve Callaway's open case in FPA, that's if you haven't been there already.

Good luck!

 

[Nerdie]

As previously explained you are not entitled to a refund after trading for a minimal period and deciding that you can generate more profit in another field. I am certain that if you explain you reasoning with the forex peace army they will agree with Apple Investment Companies decision.

Applesauce!



For Apple Investment Company and anyone else who thinks they can hold up a contract for protection against the law's response to companies or individuals involved in activities which may be proven to be deceptive practices and thus illegal, this is a SNOW JOB, guys.

I suggest you (Apple Investment Company Pty Ltd) read up on Australian Law, especially the relationship between Statutes and Common Law, and everything you can find on Australian Consumer Legislation so you don't try taking us for a tech trader nightmare ride with our hard earned money ever again!


:Nerd:

 

[Nerdie]

hello Kiwitrader

Apple Investment Company is all promises and guarantees, that is until you want that '24 month unconditional guarantee' because their fx calibre software doesn't work. It is amazing how a 'guaranteed' monthly return of 13% ends up a negative return as soon as you start trading.

If you were guaranteed anything that you didn't get that's a breach of contract on their part. Suggest you get legal advice or talk to Office of Fair Trading Brisbane. Keep all your documentation for evidence.

 

[MichelAnge21]

Have nt we said all there is to say about that company in Steve Callaway s case ?

1) Apple Investment operated under a representative licence with the ASIC that ceased in april.

2) They were considered by the ASIC to be representatives for another company that is the licencee proper ( Mark Power Financial or something like that )

3) When complaining to the Financial Ombudsman, mention the licencee, Mark Power Financial, ASIC licence 332428, or they will tell you Apple Investment is nt regulated by the FOS.

4) Australia has pretty good regulations and they seem to take the matter seriously

 

[Pharaoh]

I think it's well worth keeping this thread up to date. Maybe someone will be able to get their money back. Maybe someone will find some other information critical to hunting down those behind the company and seeing that justice is served.