Share Express Pty Ltd (SharesXP)

[systematic]

this is my daughter's uni free all gone

Oh no; dude, seriously? I guess you got blindsided by your own greed/wishful thinking combined with their marketing spiel? I wanna judge, but I actually get it. Rebuild from here, man. I know that you can.

 

[Garyjonassen]

Oh no; dude, seriously? I guess you got blindsided by your own greed/wishful thinking combined with their marketing spiel? I wanna judge, but I actually get it. Rebuild from here, man. I know that you can.

The returns were not Greed but a long term investment that offered a better return than the banks at about 12%. I have Reported to the FOS but by myself I do not think I will get very far.

 

[systematic]

I think you're right - I don't think as an individual you'd get very far (even going by an ASIC video I just watched - they pretty much say as much, between the lines!)

Hey, I get it. You honestly and innocently thought you were getting a reasonable and realistic deal. I also very much agree - a lack of financial education shouldn't mean that a person becomes fair pickings to crooks. i.e. I think there should be an intelligent protection in the financial industry. If you go to a medical doctor, you'd like to think you can trust them to do no harm and look out for your best interests (any debate on that will have to go to the general forum, lol).

I know jack crap about cars or how engines work. I trust my local, family mechanic. He's runs a wonderful family business and treats every customer like gold.

People should be able to get decent financial advice in the same way, with the same consumer protections. If I go to a dodgy mechanic, and I catch them out, I'm not going to want to pay their bill! Unfortunately, it's all to late in the financial industry, where the money has already been invested.

Still. On a personal level, Gary - we've all made financial mistakes. Apart from these guys being mongrels etc, you must also feel some regret within yourself? I ask, not to berate you, but because I think that it would be normal to ask yourself what mistake you made in the situation - and what I've experienced myself. If you only blame them, then it concerns me that you've got it only half right (which I'm sure is not the case, by the way).

 

[Garyjonassen]

https://www.moneysmart.gov.au/scams/report-a-scam

Just reported to ASIC. Dont know if I will get very far on my own.

 

[Garyjonassen]

Re: Share Express Pty Ltd

Ionly 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.

Cheers.

Screen Shots: Did you get some of the month by month of fully managed Funds for 2015 and 2016?

 

[Garry Burnt]

Has anyone heard of or used the services of Share Express

Hi BKB
Yes sadly I have been using them to Trade CFDs for over a year and closed my account two months ago. DONT GO NEAR THEM!!
They managed to turn $70k of mine into $49 in about 15 months despite Australian and World markets having significant increases. This is despite a supposed "top up" into my account of $6k by them after acknowledging their poor performance after I threatened to withdraw all my funds after 12 months.
Sadly I wish I had done more research after there cold call. The only one who makes money is them through there commissions.
Once bitten!!

 

[Mikey R]

I received a cold call from someone in Share Express in mid 2015. Over the next few days I got access to their customer website, investigated the company and asked a few questions of its representative (said he was Kyle Sassen). My suspicions were confirmed when I found they had been in business for only a couple of years but had performance data going back ten years. Kyle said some of the performance was estimated by projecting the same algorithms into the past. Sounded like a horse betting system to me. I took screen shots and sent info to ASIC. ASIC said that they will take it from there but won't necessarily call me back! Seems they didn't do much.

 

[timer]

Warning...must read
Remember all the scamming related to Share Express..well they have gone but have been reinvented under different names but with the same financial backer..Olive Financial Markets....please read the following which I have taken from another article...

1. Surfers Paradise: The Gold Coast is a hotspot for financial scams in Australia.
2. Ricarmo Pty Ltd is an "Authorised Representative", or if you like, it is legally registered to provide financial advice, though it's Financial Services Guide provided by a company called Olive Financial Markets Pty Ltd of 87-97 Liverpool Street, Sydney www.ricarmo.com.au/wp-content/themes/ricarmo/pdf/OliveFinancialMarketsFSGOctober2017.pdf
3. Olive Financial Markets Pty Ltd www.olivefinancialmarkets.com.au/contact-us/ has other Authorised Representatives who are Gold Coast based managed superannuation advisors, including:
4. Camori Pty Ltd https://camoriinvestments.com.au (see home page footer for it's Authorised Representative number). Although Camori operates out of the Gold Coast, it gives it's address as identical to that of Olive Financial Markets Pty Ltd in Sydney.
5. Paradise Financial Group also operates out of the Gold Coast but gives the same street number address http://www.paradisefinancial.com.au/#5 as Olive Financial Markets Pty Ltd in Sydney.
6. Sharescope http://www.sharescope.com.au owned and run by Markets Pty Ltd is another business which uses Olive Financial Markets Pty Ltd's Financial Services License (if you check the Australian Financial Services License number that they give against the ASIC register). Interestingly, they are at No. 89 Liverpool Street but in an identical Suite Number. Oh! No. 87 and No. 89 are the same building, so it's actually the exact same office as the others despite the different street number! Tricky!
7. Ricarmo Pty Ltd gives its address as
   The Gateway, Ground Floor,
   50 Appel Street,
   Surfers Paradise, QLD, 4217
8. It so happens that ASIC raided three businesses at this address (see next item for how we know this) a month ago, as part of an investigation into investment fraud: (www.afr.com/brand/rear-window/asic-sends-police-to-almost-raid-channel-seven-20170920-gylewt – Paywall, but you should get one look for free; or www.goldcoastbulletin.com.au/business/detectives-raid-surfers-paradise-businesses/news-story/6bd9fa317c8a2ca34b0b6e20bfbdd5e3)
9. Only two of the three businesses are named in the stories viz. Camori Investments and Paradise Financial Group. The third business is unknown, but if you check the White Pages for Channel 7 (bear with me!), you'll see that Channel 7 is in the same building as Ricarmo. Now, if you've been reading carefully, you'll remember that the AFR story in the previous item says that the Camori/Paradice Financial raid was on Channel 7's Gold Coast building. So, it does look likely that Ricarmo is that mysterious third company that was raided in that office. To sum up, Ricarmo is an Authorised Representative of Olive Financial, which in turn, shares an office and a building with the two raided companies back in Sydney, as, it appears, does Ricarmo share with them their raided operational office on the Gold Coast. So many coincidences!

You'll also find negative reviews for a number of the companies above on the web if you Google them. All in all, with so many risk factors, maybe it's worth waiting until ASIC puts out an all clear before giving them your hard earned cash!