Ponzi Scheme Did anyone hear of UTMarkets forex broker in London?

[Pharaoh]

Bulgarian authorities and FSA notified. Interpol next. The more people that do this now, the better chance that action will result.If anyone knows of actual names of individuals in Europe or with Emirates please provide them to the relevant authorities. I believe there was an earlier post with known aliases and names on this thread.
I know my money is gone. It wasn't a lot and it won't really impact me. However, it is my hope these conmen do some time in a lovely jail someplace.

When someone rips you off and there's nothing left, then it's time to take proper (and legal) vengeance against the scum sucking scammers so they can't do it again.

 

[investordxb]

Guys, investors, join the Facebook group UT Markets - Truth https://www.facebook.com/groups/1044179072355967/.
we have a plan there. Come on, time to take action.

Don't join this group is made by trolls and fake profiles. The only objective of this group is to shutdown UTMarkest

 

[AsstModerator]

If you included a copy of your passport, your claim of other accounts being fake would carry more weight.

Report Abuse is for violation of forums rules. Recently there have been several misuses of this feature to try to prevent people who are posting against UT Markets. If someone clearly violates forums rules, use Report Abuse. If you disagree with someone, post it publicly. If I continue to see misuse of the Report Abuse feature, I'll start posting the claims and the rejection replies.

 

[investordxb]

Beware of Fake FB Profiles.

 

[chicken.or.beef]

Don't join this group is made by trolls and fake profiles. The only objective of this group is to shutdown UTMarkest

It appears this Margo that everyone is attacking, is a whistle blower, and trying to alert crew that UT Markets is a Ponzi.

As we all know, UT markets initially claimed they were regulated by the FCA and originally based in London. Until the FCA issued a warning and denied that UT was regulated in the UK.

UT markets changed their tone and admitted they are based in Bulgaria. New adress: UTMarkets,-115K-Tsarigradsko-Shosse-Blvd.,-Sofia,-Bulgaria

Margo today posted a warning from The Bulgarian Financial Supervision Commission (FSC) -an official press release warning about UT Markets. And the attacks resumed:

Original source: http://www.fsc.bg/d.php?id=17963

It appears Muhammad Shahid is behind the attacks, interestingly he has taken over as the the admin of the new UT Markets investors facebook group, encouraging everyone to wait and cancel any closure requests as to let UT get "back on track", and discouraging any legal action to keep the virtual profits flowing.

I

His new co Admin Mirjana Vujinović has taken it upon herself to also defend UT Markets online despite no profit payments for many and denial of account closures due to banking issues:

Despite claims to the contrary, account closures have not been accepted and have not been paid. July profit has been paid to a select few, asking for the payment to be promoted online through social media..lol..anything to keep people for requesting withdraws...

 

[Pharaoh]

Beware of Fake FB Profiles.

So you are an anonymous forums member reporting an anonymous FB whistle-blower who reported anonymous fake FB accounts which were promoting a company that has both UK FCA and Bulgarian FSC warnings against it.

Hmmmm... believe anonymous people promoting or otherwise protecting an obvious Ponzi or believe an anonymous person who is desperately trying to warn people away from an obvious Ponzi which is racking up regulatory warnings?

I'll put my money on the same side as the regulators. Then again, I'm an anonymous person who has spent years warning people away from Ponzi schemes just because I like protecting people and wrecking the day of scammers.

 

[investordxb]

It appears this Margo that everyone is attacking, is a whistle blower, and trying to alert crew that UT Markets is a Ponzi.

As we all know, UT markets initially claimed they were regulated by the FCA and originally based in London. Until the FCA issued a warning and denied that UT was regulated in the UK.

UT markets changed their tone and admitted they are based in Bulgaria. New adress: UTMarkets,-115K-Tsarigradsko-Shosse-Blvd.,-Sofia,-Bulgaria

Margo today posted a warning from The Bulgarian Financial Supervision Commission (FSC) -an official press release warning about UT Markets. And the attacks resumed:

Original source: http://www.fsc.bg/d.php?id=17963

It appears Muhammad Shahid is behind the attacks, interestingly he has taken over as the the admin of the new UT Markets investors facebook group, encouraging everyone to wait and cancel any closure requests as to let UT get "back on track", and discouraging any legal action to keep the virtual profits flowing.

I

His new co Admin Mirjana Vujinović has taken it upon herself to also defend UT Markets online despite no profit payments for many and denial of account closures due to banking issues:

Despite claims to the contrary, account closures have not been accepted and have not been paid. July profit has been paid to a select few, asking for the payment to be promoted online through social media..lol..anything to keep people for requesting withdraws...

Margo Austin, Please let me know, you are using fake picture (one Philippine actress), Fake name and dont have any account with UT. Why are you trying your best to shut down UT. You know very well if UT shuts down due to your propaganda all investors will loose their money. What is your goal. I belive you have some issue with your friends who promoted UT but you did not get chance to enjoy the commission. If you are real and true, please provide proof of your UT investment and your real identity. You have already done a major damage and you will be very happy when UT will close and we all will loose our money. Then you will may take your percentage from out investment.

 

[investordxb]

It is already mentioned on UTMarkets site "Trading may result in a substantial or complete loss of funds and therefore only speculate with money you can afford to lose We are not regulated or authorized by the Financial Conduct Authority (FCA), and are therefore unable to accept UK customers."

 

[Marcelo Rosa]

Don't join this group is made by trolls and fake profiles. The only objective of this group is

It is already mentioned on UTMarkets site "Trading may result in a substantial or complete loss of funds and therefore only speculate with money you can afford to lose We are not regulated or authorized by the Financial Conduct Authority (FCA), and are therefore unable to accept UK customers."

Investordxb, you are not seeing the full warning here, UTM now has two warnings, from FCA in UK and FSC in Bulgaria. Now, let me give you the third warning: The so called new company (which is not new at all) that appeared and already lost clients money called Fx-Expert has the same IP address and location than UTM and they started to call UT clients for a new investment opportunity, they had the clients list from UT without asking the clients for permission, why? Because most probably, they are the same company. Do you still want to make any sort of investment in an unregulated company that gives 10% every month, offer bonuses and commissions upon referral based on new clients? You can lie to the facts, but the facts don't lie.

Let me tell you the same analogy as I used in another group,,, would you drive a car, knowing that the brakes manufacturer is not license to develop brakes? Would you put your life and your beloved ones at risk because of that, or would you rather choose a car where all safety equipments are fully tested and approved?

Let's come back to financial market now, this applies to any type of investment, here you're not risking your life, but you're risking your wealth and your friends and family (sorry to say, but some people don't even care about their friends once they lose it all, or even family), I've seen people losing over a $1M in unregulated investments before.

If you still don't believe, have a look at those previous companies called, Fortressfxfunds, Lionfunds and Knight Capital Markets, in a matter of 2 years, they changed names 3 times, they were promising 1000% (one thousand) a year, and for a short period of time, they actually paid that amount,,, until last December, they vanished with all clients money and left everyone in despair, then few months later, they came back with another name, but same idea, and do you know what all they had in common??? Yeah, you got it,,,, lack of regulations.

If you want to invest and you're not sure where to invest, I strongly recommend to get a financial advisor, you may think it's expensive to get one, but the expense in the beginning will avoid you fall into a trap of an unregulated investment and prevent you from losing money in the long term.

If problems happen with regulated companies, do you expect unregulated ones not to happen as well? The main difference here is that the regulated one will try to fix the problems, while the unregulated ones, most of the time, will shut down their doors.

Admin group, please don't delete the other companies names that I mentioned, I know I shouldn't mention, but those companies destroyed many peoples lives and I fear for UTM clients if they don't take actions, get out of the denial stage.

Guys, it's not that I don't want you to invest, I want you to invest in a regulated company, which you know that your capital will be safe and guaranteed up to certain limits in case of a sudden collapse in the market like in the UK territory for instance under the FCA.

Let me refresh the following conversation that I had with Muhammad from UT Markets back in July 2015, he told me the following: " Listen Dude, that's what you have (meaning a piece of paper called POA), if your colleagues (he already knew where we from) are making money, you SHOULD make money, you should TRUST your colleagues.

Is that how a staff that wants to sell the company products behave in front of a potential investor? That was my defining moment, I tested the staff on all possible situation, he didn't know what myfxbook was, can you believe? Didn't know how to answer on why the trades don't have SL's, why was not regulated and so on. Do you think I'd put my money in a company that acts like that?

 

[Marcelo Rosa]

It is already mentioned on UTMarkets site "Trading may result in a substantial or complete loss of funds and therefore only speculate with money you can afford to lose We are not regulated or authorized by the Financial Conduct Authority (FCA), and are therefore unable to accept UK customers."

So now they should add, " We are also not regulated or authorized by the Bulgarian Supervision Commission (FSC), therefore unable to accept Bulgarian customers"