Ponzi Scheme TadawulME / Exential Group:

Guaranteed profits become guaranteed losses.
I think your example is way too much.. First of all I don't think each investor has 1,000,000 to invest. I only have 20,000. And if I just started now I will wait at least 1 year before I can fully recover my investment and then re-invest again. I think this is the realistic case for most of the investors on this Company.

I am talking about someone that ''discovered'' an algorithm that gives them 10% profit. This person would easily have access to 1million, and it would have no restrictions on re-investing its profits every month. But even if that person started off with just 20,000, reinvesting their profits monthly into the algorithm at 10% monthly, it would take them only 12 years to become the richest person in the world. (same source as before http://www.forex21.com/forex-compounding-calculator/, start balance: 20,000, 10% monthly, number of months: 150 (12 years))

Now, any legitimate forex company, investment firm, real estate venture, managed funds, etc. allows you to reinvest your monthly profit back into the system, because they understand the power of compound profit and most importantly because they are in the business of making the most amount of money for their client, and the way to make most money is re invest your profit each month.

If there is absolutely no market restriction on reinvesting your profits each month then why doesn't Exential allow people to reinvest their monthly ''profits''? Specially if Exential is supposedly in the business of making the most amount possible for their clients? The official reason given to me by an Exential rep was ''the computer system can only recognize amounts of 20,000'' which is completely ridiculous, you can invest any imaginable amount you want into forex. Exential's artificial restriction serves as a means to cut down the ridiculous profit promises into bite size chunks that fit that sweet spot of "wow this is great, but not unbelievably, far fetched, too good to be true great''. They rely on people with a poor grasp of mathematics, compound interest concepts, market theory and economics. People that will look at 10% a month and say ''oh its really not too much''.

I will put it in perspective for you. Bill gates created Microsoft, a company that changed the world, changed the way humanity views itself, communicates, and creates. This is why he was able to make upwards of 30 billion in 10 years. What Exential says they have in this 10% a month algorithm is something that could make whoever owns it, the same amount of money that bill gates made, it is of that sheer, immense, change-the-world scale. And you still believe that they are selling little 20k pieces of it to young, uneducated Cabin Crew (in Dubai out of all cities). 10% a month is the kind of profit that banks, governments, whole countries would be climbing on top of each other to get a piece of. But NOOOO, Exential's algorithm system wasn't sold to the World Bank, it wasn't sold to Goldman Sachs, it wasn't sold to the Chinese government, instead it landed on your lap, the twenty something Cabin Crew with no proper education in the financial sector. This, my friend is called delusion, you are not that special, you are not that lucky.

This will be my last post here, I had a moral obligation to tell my story, however I now understand that if someone doesnt want to see the truth then they will not see it, no matter how many facts, figures and arguments you put in front of them.

Dont let the promise of a better future cloud your vision of what is real, peace out.
 
D_alto, great post!

Lack of an automatic re-investment option is very unusual for any legitimate investment. It's quite common in Ponzi's and HYIPs. My suspicion is that this is done to try to build confidence of investors as quickly as possible. Many people who get back 50% of their investment in something paying 5+% per month will feel that this is enough to prove it's legit, so will tell friends and also will plow more money in. An investment where the numbers on paper only go up can leave a nagging suspicion that the numbers are fake (and yes, sometimes they are - which is why ANY managed investment needs to be extremely transparent).
 
Here it is one goes down one comes up. It seems like tadawul/exential fever is almost over. I think we are counting the days, soon these crooks will disappear. But bow the crew fever is UT Markets. Lol, these guys are a joke. C'mon people have a heart...
 
And before closing out your last account with them take a picture of your account status and balance. The second you request to close the last account they lock you out of your online portal so have no idea what the trading balance was, even though they will now hold onto your funds another month (20 working days)
 
Hello,
today I feel really released because today I am an ex "investor" of this Company.
I subscribed one forex account, reccomended by 2 friends of mine who since 6 months was generating constant average 10% of return of investments. They said they had done all the due diligence and so, my fault I did not do mine (I am also very busy with my job).
So I opened the account transferring the money less than 2 months ago.
After 1 week of "trading" I finally started to check my account and the myfxbook "linked" account and I reamined without words and immediately I asked to deactivate the account (hoping to get my money back).
Let's say what is wrong with their trading:
- You cannot access to your account. Why? Because it does not exist any account
- The myfxbook account they say is mirrored. That's ridicolous, becasue it's impossible that even if it exists a software all the accounts are executed at exactly the same price at pips fraction
- the trades are without any logic. Sometimes are frequent, sometimes no. Sometimes they risk small, sometimes they risk big
- myfxbook can be manipulated (feel free to search on internet)
- the constant monthly revenue make no sense at all and are statistically impossible
In the end I rapidly convinced my self that behind the forex trading there is a simple Ponzi schema. Until they will drag money from new "investor" they will pay, then suddenly they will disappear. So last joiners will reamain with nothing.
Do not be greed and look the reality as it is.

I hope to help other people to save their money from this scam.
 
Hello,
today I feel really released because today I am an ex "investor" of this Company.
I subscribed one forex account, reccomended by 2 friends of mine who since 6 months was generating constant average 10% of return of investments. They said they had done all the due diligence and so, my fault I did not do mine (I am also very busy with my job).
So I opened the account transferring the money less than 2 months ago.
After 1 week of "trading" I finally started to check my account and the myfxbook "linked" account and I reamined without words and immediately I asked to deactivate the account (hoping to get my money back).
Let's say what is wrong with their trading:
- You cannot access to your account. Why? Because it does not exist any account
- The myfxbook account they say is mirrored. That's ridicolous, becasue it's impossible that even if it exists a software all the accounts are executed at exactly the same price at pips fraction
- the trades are without any logic. Sometimes are frequent, sometimes no. Sometimes they risk small, sometimes they risk big
- myfxbook can be manipulated (feel free to search on internet)
- the constant monthly revenue make no sense at all and are statistically impossible
In the end I rapidly convinced my self that behind the forex trading there is a simple Ponzi schema. Until they will drag money from new "investor" they will pay, then suddenly they will disappear. So last joiners will reamain with nothing.
Do not be greed and look the reality as it is.

I hope to help other people to save their money from this scam.

it's very good that you've pull out your money immediately as it appears based on your post that you really don't understand what you had entered into..
 
Hello,
today I feel really released because today I am an ex "investor" of this Company.
I subscribed one forex account, reccomended by 2 friends of mine who since 6 months was generating constant average 10% of return of investments. They said they had done all the due diligence and so, my fault I did not do mine (I am also very busy with my job).
So I opened the account transferring the money less than 2 months ago.
After 1 week of "trading" I finally started to check my account and the myfxbook "linked" account and I reamined without words and immediately I asked to deactivate the account (hoping to get my money back).
Let's say what is wrong with their trading:
- You cannot access to your account. Why? Because it does not exist any account
- The myfxbook account they say is mirrored. That's ridicolous, becasue it's impossible that even if it exists a software all the accounts are executed at exactly the same price at pips fraction
- the trades are without any logic. Sometimes are frequent, sometimes no. Sometimes they risk small, sometimes they risk big
- myfxbook can be manipulated (feel free to search on internet)
- the constant monthly revenue make no sense at all and are statistically impossible
In the end I rapidly convinced my self that behind the forex trading there is a simple Ponzi schema. Until they will drag money from new "investor" they will pay, then suddenly they will disappear. So last joiners will reamain with nothing.
Do not be greed and look the reality as it is.

I hope to help other people to save their money from this scam.
So the money can be pulled out indeed. Did you experience difficulties in requesting for a pull-out?
 
Sounds like money can be pulled out after a considerable delay. Of course, if enough people pulled out at once, then the whole scheme could crash.
 
No. I did not have particular problems. 23 working days agains the 20 in the contract. Of course until they have money they will not create problems that could make craash the schema. I did not inform the people that reccomended me, because I did not want to generate panic until I got my money back.
My lesson learnt is to do well your own due diligence and do not trust other due diligence.
It's only a matter of time before the schema collaps. Unfortunately greediness is often stronger and makes you blind over the evidences
 
No. I did not have particular problems. 23 working days agains the 20 in the contract. Of course until they have money they will not create problems that could make craash the schema. I did not inform the people that reccomended me, because I did not want to generate panic until I got my money back.
My lesson learnt is to do well your own due diligence and do not trust other due diligence.
It's only a matter of time before the schema collaps. Unfortunately greediness is often stronger and makes you blind over the evidences


Agree on your comments about greediness. Below are the characteristics of greedy human being I think:

1) Investing in a business because some friends are making profits on it. No idea at all on what is it.
2) Pulling out on a business without telling friends just to make sure that you will get your money back first.
3) After getting the money back,, starting to speak and flaunting regarding the flaws of the business. Still with zero knowledge on what is it all about.
 
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