Attention: All FxCalibre software owners
Did Apple Investment Company or their representatives or any of their product documentation or promotions state or imply that you were purchasing a "gambling or computerised betting product"?
Why? Because that is how the Australian Competition and Consumer Commission has classified FxCalibre!
If you were told or given information at the time about FxCalibre being a gambling or computerised betting product, would this have influenced your decision to purchase?
I know without a doubt that I would not have purchased the software if I had known that.
How about you?
SCAM!
Thanks, Steve. It would be interesting to find out what other people paid for this software at the beginning. I think you're right - whatever they could get for it.
Regarding the GST, I'm going to request a receipt from Apple Investment Company via Shane Andrews, in writing. I'll also advise Shane that if I haven't received the receipt showing GST and compliant with the 1999 GST Act and all other Tax Statues relevant in Australia at the time of purchase that I will understand this to mean that I am free to create a tax invoice showing what I paid and claim for the GST component for investment education.
Further to my investigations and reporting to ACCC, FOS, etc. I have a reply from ACCC which amazed me.
ACCC regards the FxCalibre trading software as gambling and betting software!
Extracts from their reply: (Not sure how to do attachments in this forum)
As your inquiry relates to the operation of a betting system, it may be of interest to you that the ACCC has previously been successful in court action against some vendors of horse race betting software for misrepresenting the benefits of the products.
Under section 29 of the ACL
a person must not, in trade or commerce, make false or misleading representations in connection with the supply or possible supply of goods or services or in connection with the promotion by any means of the supply or use of goods or services. This includes misrepresentations that goods or services have sponsorship, approval, performance characteristics, accessories, uses or benefits. Additionally section 18 of the ACL prohibits a person, in trade or commerce, engaging in conduct which is misleading or deceptive, or which is likely to mislead or deceive.
In conjunction with the Queensland Office of Fair Trading, the ACCC has also issued a warning to consumers about computerised gambling systems. We would advise you to read it:
Computerised gambling systems.
Well, so much for the educational value of the FxCalibre trading software!
As well I have gained the impression from their email that
ACCC haven't received enough complaints about FxCalibre for them to do anything much about the information I gave them:
"The information obtained from individual complainants is used to establish a pattern of behaviour by a particular trader or in a particular industry. The ACCC’s consumer protection focus is on national issues and those localised issues that have wider public interest implications. The ACCC would generally pursue this type of complaint only where there is significant detriment, usually evidenced either by the number of complaints it receives and/or the magnitude of any loss suffered by consumers. At this stage the ACCC is not in a position to confirm what, if any, action may be taken on this matter. However, in the meantime this information will be used in the context of our ongoing monitoring."
So it's back to the Office of Fair Trading for me and possibly the Small Claims Tribunal. I've gotten this far, I may as well add that to the list of organisations that know about what seems to be my one solitary claim! Unbelievable that I'm alone in this action!
Where are all the traders that are voting "guilty" on this poll? Do any of you (apart from Steve and myself) have an issue with Apple taking your money under false pretences? Do any of you want to get their money back for the software and/or costs associated with this "investment"?
If so please take the time to phone or write to:
- Financial Ombudsman Service
- ACCC
- ASIC
- Office of Fair Trading
The details are on their websites.
Don't just expect these organisations to find your grievance on a trading forum - or worse still read your anonymous mind.
Please, every one of you, make the effort, otherwise they won't take our claims seriously. They need a large number of complaints before they will act, known as a "critical mass".
Also in your reports be prepared to put dates and names and any other specific evidence you can find. It adds to your credibility.
My final information is that everything that I've send to these organisations has been forwarded by a third interested party to his contacts at ASIC. There are some honest dealers with profile in the investment industry who want this matter investigated properly and restitution made to those who have been misled by the conduct of the Apple Investment Company. Let's support the honest dealers with our letters of complaint to the relevant authorities asap! It's really important to do this
now - time is of the essence.
Happy trading!
PS -
Important update:
Don't bother phoning these government/NGO/regulatory bodies.
It's more effective to write a physical letter to them enclosing the story of your experience with Apple Investment Company, especially the sales tactics they used with you and the way you were treated. Apple think they've covered themselves with their conditions. They haven't. Feel free to use any of the information I have posted about the ACCC determination and the rest if it helps your case. If you get to an online submission that won't go through to the department or organisation, print it off and post it, snail mail. You'll find this happens with the Financial Ombudsman Service. And their online forms don't give much scope for your complaint evidence - print it and send it in by mail. It's very much more effective if they receive this information in the post as it's "real" and tangible. It also underlines the lengths you were prepared to go to in order to let them know what happened and alert them about the nasty tactics used by the Apple Investment Company.
Finally in deciding whether Apple are guilty or not guilty, consider how the law is skewed and distorted from the original concepts of natural justice and common law. Like "boiled frogs" over time we adapt to the idea that we can't do anything about it. We can, and we are. In "legal" terms Apple are guilty of misleading and deceptive conduct and of
breaking Australian Consumer Law. In common law terms without a law degree I can see they are guilty - they are ducking for cover and have been since last year. Their Financial Services Licencee dropped them quite a while ago for their "practices". Does that tell you something about their behaviour? Without financial backing to pay for a clever lawyer they would be running for their lives from us. It's coming
Apple Investment Company are GUILTY - and they know it. They are on the run from us.
Thankyou FPA for giving us the opportunity to look at what Apple Investment Company have done and express how this has affected us and left us feeling.
The word is out around the world - Apple Investment Company are bad news. If you won with their "software" you were the exception - it's like backing the winning horse in the Melbourne Cup!
At least I know now I'm not the only one who is totally frustrated and disgusted with the disrespect shown to me, as a fellow human being, by their so-called "support" team. 
