Apple Investment Company & FxCalibre

Steve Callaway

I was cold called in March 2010 and sent the brochure by mail.
A few days later I was given the online demo where it was explained that this what the banks do with my money.
Mention was made of McDonald's and consistency. FxCalibre claimed to trade consistently and profitably.
A trader was pulled off the floor to give a demonstration of a trade being placed manually. This was left to run while further things were discussed.
The worlds biggest banks were mentioned as being major players. Mention was also made of the Fx being available 24/7 and was a huge market in comparison with the stock exchange. After this the trade was then closed with a profit.
I was told the FxCalibre software was $9600 to buy. 13% average return per month guarenteed with a 2% risk and 6% average return per month for a 1% risk.
I was still very sceptical having found another share trading software package didn't perform very well and mentioned this to them. After the demo I was bombarded with phone calls (harassed) urging me to send through an application.
Jarrod Fowler said he would get his boss to call me as they sometimes did a special deal for people who had been bitten.
The boss (I didn't get a name) called and came up with a $40,000 trading agreement. They would forgo the profit on the software and I would pay $5600 and start with a $5000 trading account and if it wasn't up to $40,000 after 12 months I wouldn't pay anymore. Made it sound as though they were very confident that I would be paying the $4000 difference in 12 months time. He also stated that because they have a financial services license their product has to do what is claimed (I was lied to!). They also claimed that they hadn't had a negative return in 18 months.
I signed up on the 8/4/2010 on this basis.

The first trainer/educator was Nick and he contacted me and asked if I was happy to trade automatically for a while. I was contacted on a couple of other occasions. I used the recommended settings and made a 14% loss in the first month. After 4 months & ~18% loss I was totally disillusioned and sent a fax asking for my money back.

I was then contacted by Scott and talked into trading my account back to the starting amount and then applying for my money back.
Initially I was told to trade over night and then it became trade 24 hours/day from monday morning until midnight friday at the latest closing any trades still running. Different settings were emailed through weekly. Software was to be restarted daily around the same time and an internet browser to be running along with FxCalibre.
Education was dismal. I had to ask for some training/seducation several times before anything was done. Frankly I could have got more out of a book.

Foolishly I continued trading for a couple of more months with further losses and then said enough.

Shane contacted me and informed me that I had to trade for 24 months to be able to get a refund. He stated that it does work and urged me to continue trading.

I was dumb enough to persist with trading and when I reached over 50% decided that it was all a scam. The only one making money was Apple through their referring brokerage. From this position I would have to average 30% per month for another 14 months to get to the 13% average claimed.
My results were one month made a profit of 4.5% every other month losses ranging from 0.24% to 20.19%. 13% average return is never going to happen.

I sent an email asking for my money back and for losses to be made good. I contacted them several times to ask what was happening. It was arranged that I would be called by Shane at 7:30am which didn't happen. He did try to call me at 2:30pm when I wasn't available. I sent an email saying that my email said it all and that there wasn't anything to discuss but to call if necessary. I got a read receipt but nothing more.


That's pretty typical - they'll chase you until you're committed financially, they're interested while they can get money out of you and when you stop participating in their game and want out they don't want to know you.

It's a consistent pattern with this team's history of investment scams and fraud.

My unfortunate contact with these people as a genuine investment enquiry has caused me major financial problems, stress related illness, loss of investment income and times when I wondered if I must be the one who was wrong about them. At least I'm not alone in my experience with these rogues. They deserve everything we are saying about them, and probably a lot more that can't be said!

Link to ASIC online complaint form: