Beware! Apple International is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Apple International says to be an ECN/STP forex and CFD broker with offices all over the globe – from Australia and Chine to Moscow, Berlin, Cairo, Columbia and the US.
And they say to offer a wide range of financial instruments, including 41 forex pairs, a number of which exotic and minor like USD/SGD, USD/TRY, USD/NOK, USD/ZAR, USD/DKK, USD/SEK, USD/CNH, USD/HKD and USD/MXN, as well as CFDs on precious metals, crude oil and other assets with a leverage of up to 1:100 and the MetaTrader4 platform.
As good as this may sound, it turned out that here we are dealing with a unregulated broker with rather limited credibility, so if you are considering trusting your funds with them better read this review first.
Apple International regulation & safety of funds
Apple International is supposedly run by an Australian company – Treasure Bay Capital Pty Ltd., which according to the presentation is regulated by the local authorities. So we checked the registers of the Australian Securities and Investments Commission (ASIC), which is a respectable institution that supervises all financial service providers in the country.
As it turned out however, Treasure Bay Capital Pty Ltd. although present in the registers, is no longer licensed – see for yourself:
So Apple International is not a licensed broker and that makes trading with them extremely risky. Bear in mind that unregulated brokers are in no way accountable for the way handle your money, and in most cases are simply involved in scam.
Apple International deposit/withdrawal methods and fees
There is no information on the Apple International homepage about the payment methods they accept, nor about the minimum deposit requirement. Just have in mind that most brokers accept major credit cards like VISA and MasterCard, bank wire and various e-wallets like Neteller and Skrill, whereas the minimum deposit requirement is set to be about 250 USD.
Also, we were not able to check the Terms and Conditions of the broker and that is another setback, because this is a key legal document, which serves as a contract between the broker and the trader. Too often, with unregulated brokers like Apple International the client agreement may contain some pretty nasty clauses, that scammers usually use to deny any withdraw requests.
How does the scam work?
Among the more recent techniques scammers use to hunt for new victims are the so called robo – scam websites like Bitcoin Profit and Brexit Trader. These are not scam brokers per se, but rather promo scam portals, where people are tricked to leave their e-mails and phones with a promise of fast and easy returns in exchange of a small investment. Those websites are usually all about a nicely cut video, about some irresistible opportunity with some innovative trading app. In any case, if you do register, instantly you will be transferred to the web page of a unregulated, offshore broker, where finally you will be asked to deposit about 250 USD.
And in the beginning trading with the scammers might seem like a lot of fun. All your traders will go great and in no time the funds in your account will seem to have doubled. All of that, however, will be just part of the scam. Your account will most probably be manipulated so that latter you will be more easily convinced to deposit a more substantial sum. And that is exactly what you will be told by your “senior account manager”, who will probably be calling you on a regular basis – if you want to make some real money, you have to deposit at least 10 000 USD.
The curious thing is that at that stage most people do deposit that kind of money, without realizing they have been scammed until the very moment they decide to withdraw a portion of their funds. Than all of a sudden they are told they do not have right to withdraw, because of some minimum trade volume requirement, possibly linked to a welcoming bonus. The pretext for the refusal might be different, but in the end it will all come to the same – you will not seed a single penny back.
What to do if scammed?
Do not waste a second but immediately file for a charge back with your credit card company – that is the only chance you have to get your deposit back. The good news here is that currently both VISA and MasterCard will allow you to file for a charge back within 540 days.
And if by any reason scammers have convinced you to tell them your credit card number and online banking password, immediately block your credit card and change the password.
And do not contact the so called recovery agencies. They will not recover your money, but basically will ask you for an upfront payment and that will be all.