Share Express Pty Ltd (SharesXP)

[Gringotts Bank]

Re: Share Express Pty Ltd

To clarify...

If you are just unsure about what you've got yourself into, read the fine print and ask specific questions here on the forum. And maybe hold onto your units until you know exactly what's going on.

If you feel like they are a dodgy company, do a search of the directors. Make sure the office is a real physical office on Google street view. Visit the office in person or get someone to physically go there and have a little look around and speak to the staff. If there are any images of people (staff, directors) on the website, reverse search them on Google to see if they are real people. Google the words "scam + [director name]" or "scam + share express". If you find something and need clarification, post what you find. Call ASIC and ask them. Lots you can do. Also check scamwatch.gov.au

Report them if anything is illegal or questionable. Scamwatch.

I see Joe has moved the thread to tack it onto and old one. Doesn't look good, does it?

 

[BBBrad]

Re: Share Express Pty Ltd

OK,THANKYOU

REGARDS,
LILLIAN

Hi Lillian,

Been there, don't go! Flashy site promising the world based on their past performances but their record hasn't been good during my time with them. Lost 25% of my investment.

Hope you followed the earlier posts advice.

Regards,

B.

 

[RobofDarlo]

Re: Share Express Pty Ltd

I tried to enquire about these guys on Hot Copper but got censored. I checked that they were operating on an FSL (they were and authorised rep) and so gave them a go. Silly me.

They quickly lost 25% of the funds on FX trading, then I switched to the cfd equities system and since then it has oscillated up and down but does not seem to be correlated with the market or with their model 'live' portfolio.

 

[skyQuake]

Re: Share Express Pty Ltd

I tried to enquire about these guys on Hot Copper but got censored. I checked that they were operating on an FSL (they were and authorised rep) and so gave them a go. Silly me.

They quickly lost 25% of the funds on FX trading, then I switched to the cfd equities system and since then it has oscillated up and down but does not seem to be correlated with the market or with their model 'live' portfolio.

So let me get this straight... they lose 25% of your capital, then you let them have another go???

I may have a bridge to sell you good sir

 

[melvindoo]

Re: Share Express Pty Ltd

I just had an interesting experience with Shares XP - a trading name for Share Express Pty Ltd.
They rang us. They made an introductory offer ending 29 Feb as they were "entering the retail market after years of success in the professional investment market". The offer was that we pay only a one-off fee of $4900 and they waive the annual fee of $5750 in perpetuity.
They gave us a login so we could talk through an online presentation. I took screenshots. One slide showed the stockmarket curves for various countries dating back 15 years, all of which showed no glitch at all in 2008. In 2008 they had their lowest return of 15%. The highest was 52%.
They claimed to have been in operation since 2004. I did an ASIC search and found that the company was registered in 2011 and has had 1 change of name, 5 changes of registered address and 2 changes of director in that time.
Their website says they are an authorised representative of Olive Financial Markets Pty Ltd, which in 5 years since registration has had 1 change of name, 4 changes of address and 2 changes of director.
Like the other posts on this forum, I was unable to find any mentions of its share performance in google searches other than on its own website.
It's primary trading mechanisms were CFD and short selling.

All of the above is just the facts as I experienced them. Guess what, I won't be buying.

Cheers.

 

[Terrygag]

Re: Share Express Pty Ltd

I have just had a similar experience. I don't know where they got my number from, but their promised returns are too good to be true. Thanks for the thread, I am going to steer clear of them now.

 

[Pmj]

Re: anyone know about 'SHARE EXPRESS'?

Hi,
I passes over some money to "SHARE EXPRESS'',for a managed account, but after reading the fine print in the agreement I am not sure about going through with it. Can anyone tell me their experiences with this company?
I am feeling a bit like an idiot!

Did you actually continue with Shares express? If so, are you happy with the outcome?

 

[Pmj]

Re: Share Express Pty Ltd

I have just had a similar experience. I don't know where they got my number from, but their promised returns are too good to be true. Thanks for the thread, I am going to steer clear of them now.

Just out of interest, what was the cut off date for their "offer" in relation to the date they phoned you?

 

[Pmj]

Re: Share Express Pty Ltd

I used their services. My $20K investment was ahead for one day, then declined on a daily basis after that. Overall, a very bad experience.

Any updates, Fred3? Did they keep declining? I am thinking of signing up.

 

[pixel]

Re: Share Express Pty Ltd

Any updates, Fred3? Did they keep declining? I am thinking of signing up.

... and after reading all these experiences, your reason would be ...?

 

[Pmj]

Re: Share Express Pty Ltd

... and after reading all these experiences, your reason would be ...?

Well, that's the interesting thing. Reading the posts carefully, there is not much clear evidence of things to be wary of. One peson (fred3) says his account went down each day, but there is no follow up (did it recover?). The info they provide looks solid - so I doubt that they are a sham group, so the real question is "is this a wise way to invest some money?". They claim to get better returns than fixed investments in the share market.

I'd love to hear some wiser opinions than mine, especially from people who have invested through them and have real stories to tell.

 

[skyQuake]

Re: Share Express Pty Ltd

Well, that's the interesting thing. Reading the posts carefully, there is not much clear evidence of things to be wary of. One peson (fred3) says his account went down each day, but there is no follow up (did it recover?). The info they provide looks solid - so I doubt that they are a sham group, so the real question is "is this a wise way to invest some money?". They claim to get better returns than fixed investments in the share market.

I'd love to hear some wiser opinions than mine, especially from people who have invested through them and have real stories to tell.

http://www.reverseaustralia.com/lookup/0756585149/

 

[pixel]

Re: Share Express Pty Ltd

Well, that's the interesting thing. Reading the posts carefully, there is not much clear evidence of things to be wary of. One peson (fred3) says his account went down each day, but there is no follow up (did it recover?). The info they provide looks solid - so I doubt that they are a sham group, so the real question is "is this a wise way to invest some money?". They claim to get better returns than fixed investments in the share market.

I'd love to hear some wiser opinions than mine, especially from people who have invested through them and have real stories to tell.

Wise people won't touch outfits like that with a ten-foot barge pole.
That's why you won't read any "real" stories.

 

[systematic]

Re: Share Express Pty Ltd

Well, that's the interesting thing. Reading the posts carefully, there is not much clear evidence of things to be wary of.

...They tele-market their services, for goodness' sake! You can't do that legitimately in Australia. Isn't that enough? As incredulous as it is to some of us to think that ordinary people would be taken in; getting a call from my old friend (who is a wonderful, intelligent, hard working fellow) convinced me that this does happen. Decent, good people fall for this stuff.

I'd love to hear some wiser opinions than mine, especially from people who have invested through them and have real stories to tell.

...Hmmm. Why? Are you really interested in them? If you think they sound like a great mob to invest in, and are legit etc...you should go for it! Let us know how you get on.

I just don't get it. There is myriad opportunity to lose your hard earned through legitimate but hopeless investment products. Why go to the effort of justifying a shoddy looking outfit to lose your money with, when there are so many legitimate opportunities to invest poorly?

 

[Pmj]

Thanks for the comments above. But I am still not quite convinced. The money invested goes to IG Markets Ltd via a group called "Olive Financial Markets Pty Ltd". The attraction is that they do active trading (CFDs) and have the potential to get better returns than just investing in shares. They claim that they outperform the share market. So is the risk that they will run off with my money (i.e. Olive can just withdraw it and run?). Or that they are not as good at trading as they say? I am just trying to see the nature of the risk and how any 'misdealing' might work.

The only story I see here of trades not doing well is from Fred3 whose account went down for a while (which happens), but doesn't say if it recovered.

Thanks for your (wise!) help!

 

[JeriAtric]

Make what you will of the following graph; hopefully the colours will show here the same as they do on my screens. The extreme left side is where I had a JeriAtric moment and committed funds to Share Express. The yellow line is the XJO; the grey line is my portfolio with Share Express. The percentages are the amount of movement against the base values at 27.7.15. The data points are the respective values at the end of each month.

After a couple of months of observing their stellar performance I thought, for interest, I'd start tracking my own investments. Since I'm benchmarking against the XJO I've only included my ASX portfolio movements; I didn't include FX trading as the graph looks bad enough already. The orange line is, again, the XJO but this time taking the value at 6.11.15 as the base value (the day I started this XJO portfolio); the blue line is my personal portfolio.



I'm not trying to pretend that I'm some sort of super-trader with those numbers - far from it. I do have a good process for stock selection but the numbers are inflated a bit by my ill-disciplined over-exposure to the gold sector, which accounts for most of the surge during April. What I am trying to illustrate, for the doubters, is that SE seems to be completely incapable of matching the market and equally incapable of matching a rank amateur.

A couple of points of clarification:
a) My trading is equities; unlike SE I don't (in this portfolio) use CFDs so I don't have the advantage of leverage to amplify the returns
b) The benchmark is the XJO. SE trade FX, the US market and the Oz market but I had to benchmark them against something and the XJO is where I would probably have put my money if I'd not had my JeriAtric moment, so that's how I measure them. I do also trade the S&P 500 and Mid-Cap 400; I've not bothered plotting graphs for those but for interest, from 27.7.15 to 30.4.16:
S&P 500 Index - minus 0.6%
My Share Express portfolio - minus 29.5%

The S&P 500 had a good run from early Feb to the end of April; from 1.2.16 to 30.4.16 it climbed 6.2%. What about professional Share Express during that period? My SE portfolio dropped 0.2%!

You be the judge.

 

[Porper]

Make what you will of the following graph; hopefully the colours will show here the same as they do on my screens. The extreme left side is where I had a JeriAtric moment and committed funds to Share Express. The yellow line is the XJO; the grey line is my portfolio with Share Express. The percentages are the amount of movement against the base values at 27.7.15. The data points are the respective values at the end of each month.

After a couple of months of observing their stellar performance I thought, for interest, I'd start tracking my own investments. Since I'm benchmarking against the XJO I've only included my ASX portfolio movements; I didn't include FX trading as the graph looks bad enough already. The orange line is, again, the XJO but this time taking the value at 6.11.15 as the base value (the day I started this XJO portfolio); the blue line is my personal portfolio.

View attachment 66766

I'm not trying to pretend that I'm some sort of super-trader with those numbers - far from it. I do have a good process for stock selection but the numbers are inflated a bit by my ill-disciplined over-exposure to the gold sector, which accounts for most of the surge during April. What I am trying to illustrate, for the doubters, is that SE seems to be completely incapable of matching the market and equally incapable of matching a rank amateur.

A couple of points of clarification:
a) My trading is equities; unlike SE I don't (in this portfolio) use CFDs so I don't have the advantage of leverage to amplify the returns
b) The benchmark is the XJO. SE trade FX, the US market and the Oz market but I had to benchmark them against something and the XJO is where I would probably have put my money if I'd not had my JeriAtric moment, so that's how I measure them. I do also trade the S&P 500 and Mid-Cap 400; I've not bothered plotting graphs for those but for interest, from 27.7.15 to 30.4.16:
S&P 500 Index - minus 0.6%
My Share Express portfolio - minus 29.5%

The S&P 500 had a good run from early Feb to the end of April; from 1.2.16 to 30.4.16 it climbed 6.2%. What about professional Share Express during that period? My SE portfolio dropped 0.2%!

You be the judge.

Nice post, just reiterates what most of us already thought about this mob. Stay well clear at all costs i.m.o. May as well throw darts at the newspaper to pick your portfolio.

I doubt pmj was really a potential client, just spam. If he was genuine then that should scare him off. Truly dire performance.

 

[Big daddy]

I have read all the posts with interest because in march 2016 I fell for the old three card trick.
My managed funds were showing sighs of poor performing and Shares XP somehow saw that I was looking around other investment company's and gave me a call to arrange a presentation whilst I had the computer in front of me and go through there justification for there management fees $5650....(a once of)
They showed the Telsta graph and how they made 15%....How....well they consumed 3000 hrs doing so.WOW well done SharesXP.
Now lets see how they went.....the first week my $20k reached $21k...I was suitable impressed!
FROM there on its all down hill....slowly dropping to $16,500 with NO sign of improvement.
If I had managed the $25K I would be streets ahead and not feeling like a fool.

PS.my financial adviser advised me against doing this.

 

[grnman]

unfortunately I am a newbie to market trading and have purchased the $4,910 one off fee. I did this too in January. I am yet to put the minimum $20,000 in to see what the MDA does. I did notice as a consumer I am protected by FOS which includes fraud and dishonesty. Those presentation slides people have spoken about that have market performance etc that don't show GFC dips are obviously misleading.

 

[grnman]

JeriAtric these numbers do not add up to the numbers you plotted. So someone is using false data.....(obviously no you my friend.