Analyse the FACTS! You will probably notice that since Dec 2014 the returns claimed (on their website & paid out) do not match what the actual Myfxbook results shown.
A guide to using and recognising myfxbook accounts
Where is your money coming from?
You are shown, and given access to 1 myfxbook account - this cannot possibly be their primary account (balance is too low - where is your money going?) It seems like it is just a reference account. One would hope it is not the case that this is the only account.
These guys claim they are mirroring this account, and you have a segregated account that does exactly what you see on the graphs of this reference account.
For arguments sake, lets for a moment assume that investors in fact have segregated accounts which indeed mirror this account.
The problem lies in the fact that this reference account does not generate anywhere near enough returns to pay out the av. 9% profits! This reference account makes 1.83% monthly on average.
This reference account was set up with $20K on the 7th May 14. They claim it accumulates profits and is a true/mirror of how your account is performing.
Well the ROI of this account is actually 28.8 %(from 7 May 14 until today) . To get an accurate rate of return you must look at the Abs. Gain 17.09% (as the abs gain factors in new deposits..more on this later). I would be satisfied with a 17.09% return on my investment.
How is it that you receive 9% a month? For this to be possible the ROI/Gain would have to be at least 100%. It is not. Where are your profits coming from?
There is naturally a huge element of risk involved in FX, to achieve this 17.09 % pa return, which I am sure the sales/conmen inform you about.
This account is leveraged at 1:200 (although the website claims otherwise).
The initial $20k did not generate this 17.09% return on its own.
Due to the leverage and risk, each time there is a loss, it is huge. The account has to be recapitalized to cover the losses.
Have you ever been asked to recapitalize your accounts when a loss is incurred – course not.
In fact $222270 has been deposited into this reference account during the last year. The 17.09% was generated by this $222270 not by the initial $20000.
Were you ever asked to deposit more money to increase your account balance by 10x as this reference account has been. Course not. Why?
Your money was probably never invested in FX so the losses affecting this reference account were never incurred.
The facts speak for themselves. There still might be time to get out.
TO THOSE THAT CLAIM IT IS NOT A PONZI - PLEASE SHOW US WHERE YOUR MONEY IS COMING FROM ( Stating profits have been paid or you know of someone who has received profit is defn not a valid argument - it actually points to confirm it is a Ponzi)
SO ONCE AGAIN - TELL US PLEASE: where is your profit coming from?