Ponzi Scheme TadawulME / Exential Group:

[SurfO]

Check it again. The website "profits" are higher than the myfxbook "profits." Even by your logic, that doesn't make much sense now, does it? The website numbers and your payouts have nothing to do with forex.

As for the extra cash, they've beefed up equity in the past with amounts that would be very unlikely to be mirrored across hundreds of accounts. The current one was 'only' $200K, but there was an account (that's since been disappeared ... strange, no?) last year where they threw a million or two into it. This is all just smoke and mirrors.

i just checked again for the sake of the argument and guess what !! ur Wrong again ! it does make sense coz it have nothing to do with FOREX ! rather its the profit clients Earn after deductions are made while it was made in FOREX ! lol , really u checked thoroughly !! plz go ahead and check again , myfxbook only shows the total made at a certain month without counting their cut ! so ofcourse it wont match !! i would tell u how its calculated but its obvious !!

Also for the extra account that they got a million or two into it , i honestly follow up all the time and i never seen such a thing ! and if u look at the current one u can see the extra cash is coming in and out , so what does that tell u !! why do u boost ur leverage ? for fun !! i ll take it u know a bit about FX and u traded b4 so it all make sense to u..
Also why would the beef ur talkin about be very unlikely to be mirrored over 100s of accounts ? if u have enough liquidity what stops u !

 

[SurfO]

Secure Investment made similar claims. From what I can tell, Secure Investment bought up a leftover offshore instant-company to grant itself false credibility. Anyone can open an offshore company. Many pre-existing ones are sold for very low prices. As long as the annual fees are paid and something resembling correct taxes are filed, most countries won't look any closer.

Nearly the exact same arguments happened in the Secure Investment thread here, complete with attacks against anyone (including me) who couldn't "prove" it was a ponzi:

https://www.forexpeacearmy.com/forex-forum/has-anyone-heard-/25565-secureinvestment-com.html

Secure Investment turned out to be a Ponzi, exactly as I warned.



I can't speak for whether anyone else in this thread is really here to lure clients elsewhere or not. I personally don't ever recommend brokers or account management companies. My only purpose in this thread is to save people from what appears to be an inevitable loss.

In the case where an investment shows clear warning signs of being a Ponzi. the burden of proof lies on the company, not on the people trying to point out the warning signs. Allegedly safe, extremely high returns as claimed are the #1 warning sign of a Ponzi scheme. Anyone who understands the most basic concepts of risk vs. reward in the investing field would know this. The final "proof" of Ponzi only comes from the examination of the company's internal records. Sometimes the authorities do this. Oftentimes, the company just disappears with investor money. At no time can someone outside of the company "prove" that the company is a Ponzi. They can only warn (again and again) that all externally visible evidence indicates that it has all the appearances of a Ponzi (unless the most basic laws of finance have been repealed).

In broader form, this applies to ALL forms of managed investments. Returns need to be verifiable and 100% of the proof for this verification falls onto the company making the claim. A single small MyFxBook account is of very limited value for a company which claims to have so much money under their management. Where are the independent accounting statements verified by major auditing firms? Where are the financial regulator registrations?

I'll make you a deal. Show me verifiable returns (via investor access) as large as claimed on an account with a US, UK (not passported), or Swiss broker starting with at least $100,000 for a period of at least 3 years. If this company is so old, respected, and profitable, they should have no problem providing this. If you can, I'll reconsider my position.

About secureinvestments.com , i looked into it b4 and their office was in PANAMA( they were an american company in PANAMA)why ?? we all know why ! so for the sake of securing my investment i actually knew someone in panama who actually went to the address that was provided on the website and actually found no one !!
so ofcourse i would have never consider it regardless of the work done whether real trading or ponzi !

how does that apply on exential ! they are in dubai with a very visible office presence ! they have a central bank regulated broker as their business partner for brokerage who in place have sub brokers under with BVI license and MRU license operating in their office and i checked that personally , custodial bank is in also in Dubai ! all their paperwork is legit ! so whats left , are they actually trading or just ponziyin !! i know for fact that they have been checked on by the authorities b4 as the rules over here are super tight tough some ppl think not !
plus lets say the company decide to vanish, investors money are in the custodial bank with the broker and cant be moved as its segregated sub accounts under the broker main account !! so since exential are only money managers then the only harm they can bring is to actually lose the money in trading ! however u can see how the money is being made on myfxbook and for whoever ask why wouldnt i just be given an investor view of the master account , well simply coz a simple plugin in the metatrader can replicate any given trade from any given account to any other account chosen ! so why would they let someone else build up a business on their back ! i wouldnt ...
and in terms of auditing well i have worked with loads of funds manager and brokers in the ME for so many years and no one provide it and no one offer it , i know its diff in the US or in the UK but thats the way it is in the ME so its a risk an investor choose to take , otherwise dont invest and put ur money in somethin else !

 

[Pharaoh]

If I was planning a huge Ponzi, I believe it wouldn't be very hard to acquire a small pre-existing company to pad my history, even in Dubai.

Other investment companies have had big and visible offices. Here's a shorter version of the same story we have here:

https://www.forexpeacearmy.com/fore...1-cre-capital-corporation-crecapcorp-com.html

Pay close attention to Posts 4 and 5. The keep reading throught to page 2 and see how this reliable investment that paid for over a year out of its big, visible offices turned out.


Any careful investor will require verifiable proof of returns. As mentioned, one MyFxBook account is far too little considering both the obviously unsustainable returns as well as the amount of money they claim to have under management. Anyone advising people to invest in this without additional evidence to back up the claimed returns (more that high enough to set off ALL the Ponzi warning alarms) doesn't have the investor's best interests at heart.


As for money being with the broker, where are the account statements from those who invested. You love this company so much, where's your MyFxBook statement, preferably with none of the privacy options engaged? Where are the account statements of all the other happy investors?

BTW - Even if the money is really with a reliable broker, that doesn't mean it's safe. If an account manager is an IB, he can generate a ton of commissions for himself while churning accounts to death. Another easy scam is to hedge big trades between accounts. One account eats a loss and the account manager gets a nice chunk of profits from the other one.

 

[investorone]

Mr Pharaoh - which pre-existing company did Exential acquired? Would you know?

 

[SurfO]

If I was planning a huge Ponzi, I believe it wouldn't be very hard to acquire a small pre-existing company to pad my history, even in Dubai.

Other investment companies have had big and visible offices. Here's a shorter version of the same story we have here:

https://www.forexpeacearmy.com/fore...1-cre-capital-corporation-crecapcorp-com.html

Pay close attention to Posts 4 and 5. The keep reading throught to page 2 and see how this reliable investment that paid for over a year out of its big, visible offices turned out.


Any careful investor will require verifiable proof of returns. As mentioned, one MyFxBook account is far too little considering both the obviously unsustainable returns as well as the amount of money they claim to have under management. Anyone advising people to invest in this without additional evidence to back up the claimed returns (more that high enough to set off ALL the Ponzi warning alarms) doesn't have the investor's best interests at heart.


As for money being with the broker, where are the account statements from those who invested. You love this company so much, where's your MyFxBook statement, preferably with none of the privacy options engaged? Where are the account statements of all the other happy investors?

BTW - Even if the money is really with a reliable broker, that doesn't mean it's safe. If an account manager is an IB, he can generate a ton of commissions for himself while churning accounts to death. Another easy scam is to hedge big trades between accounts. One account eats a loss and the account manager gets a nice chunk of profits from the other one.

My point was never about lovin this company or that one , my point is to be profitable with the lowest risk that can be taken , i ve achieved that with exential , and if anyone else in the region has the same consistency i will also give them a try . and for your info , they provide statments upon request and it used to be mailed daily b4 and now it shows on everyones interface!
and for the IB theory , i dont know how did u manage to come up with it when u can see clearly whats the spread like when u target small pips!! counter companies who came to scare b4 did exactly what u said and what i mentioned b4 to legally scam investors in live accounts and they wiped out loads of accounts eventually and made a huge bit of $$$ , when they gave investors live viewin and f@kd em with 50$ commission per trade in FX!! not to mention ofcourse their rebate from the broker spread ! point is everyone knows u can make money like that without the need for a ponzi , but thats a bigger scam in my opinion !!
at least here they show u what they do , they are licensed with the central bank through their business partner broker and their very existence is a challenge for the ponzi theory !
and to point out to the website u mentioned , i think the width in btw the two is VAST ! so again not being in love with this company but being in love with the consistency that is irritating u makes me very comfortable in my seat ! although somethin i ve noticed in a previous post of urs is that u think 9 or 10 % per month is too much !! i really dont know how or were do u trade , it confuses me that u can say that !!
and they never acquired any company b4 !! so im not sure if ur talkin about exential or someone else !

 

[SilentSpectator]

My point was never about lovin this company or that one , my point is to be profitable with the lowest risk that can be taken , i ve achieved that with exential , and if anyone else in the region has the same consistency i will also give them a try . and for your info , they provide statments upon request and it used to be mailed daily b4 and now it shows on everyones interface!
and for the IB theory , i dont know how did u manage to come up with it when u can see clearly whats the spread like when u target small pips!! counter companies who came to scare b4 did exactly what u said and what i mentioned b4 to legally scam investors in live accounts and they wiped out loads of accounts eventually and made a huge bit of $$$ , when they gave investors live viewin and f@kd em with 50$ commission per trade in FX!! not to mention ofcourse their rebate from the broker spread ! point is everyone knows u can make money like that without the need for a ponzi , but thats a bigger scam in my opinion !!
at least here they show u what they do , they are licensed with the central bank through their business partner broker and their very existence is a challenge for the ponzi theory !
and to point out to the website u mentioned , i think the width in btw the two is VAST ! so again not being in love with this company but being in love with the consistency that is irritating u makes me very comfortable in my seat ! although somethin i ve noticed in a previous post of urs is that u think 9 or 10 % per month is too much !! i really dont know how or were do u trade , it confuses me that u can say that !!
and they never acquired any company b4 !! so im not sure if ur talkin about exential or someone else !

Didn't Exential buy-out Tadawulme?

I have an account with Exential and I have been following this thread for almost a year now.

Based on the arguments being exchanged in this forum, I noticed that the reasonable posts come from those that think that Exential is a Ponzi scheme while the ones defending Exential seem to be angry and emotional.

I am sure that I am not the only person checking this thread everyday, looking for signs if I should pull my money out. PLEASE... Are any reasonable and knowledgeable people out there who can post quantifiable figures that show how we get the profits we receive monthly from the results displayed in myFXbook? It would give us peace-of-mind if you guys show up.

I was also discussing an idea with a fellow account holder on how we can figure out if Exential is a ponzi without asking for transparency (yes I've given up asking for their audited results). Why don't each account holder pull out one of their accounts just to test the company's liquidity and perhaps hold out a couple of months before reinvesting? This way we will know if our funds are indeed in mirror accounts and not being sourced from money paid by new investors.

 

[investorone]

Didn't Exential buy-out Tadawulme?

I have an account with Exential and I have been following this thread for almost a year now.

Based on the arguments being exchanged in this forum, I noticed that the reasonable posts come from those that think that Exential is a Ponzi scheme while the ones defending Exential seem to be angry and emotional.

I am sure that I am not the only person checking this thread everyday, looking for signs if I should pull my money out. PLEASE... Are any reasonable and knowledgeable people out there who can post quantifiable figures that show how we get the profits we receive monthly from the results displayed in myFXbook? It would give us peace-of-mind if you guys show up.

I was also discussing an idea with a fellow account holder on how we can figure out if Exential is a ponzi without asking for transparency (yes I've given up asking for their audited results). Why don't each account holder pull out one of their accounts just to test the company's liquidity and perhaps hold out a couple of months before reinvesting? This way we will know if our funds are indeed in mirror accounts and not being sourced from money paid by new investors.

Will the info below answer part of your query? It's explained on their newsletter.


Tadawul ME consists of our IT department. Our well experienced Trading Analysts, Technical team as well as the Research and Development team together contribute towards the success of our organization. The Expert Advisor utilized to trade is a proprietary software developed by Tadawul ME.

Exential Mideast is currently the marketing arm of our company. Our front and back office operations play a significant role in soliciting clients on a one to one basis ensuring that the clients experience in their investment through us will be beyond their expectations.

Summary:

S&S BROKERAGE HOUSE: License Partners
FCI / ELP: Brokerage Partners
EXENTIAL/ TADAWUL ME: Money Manager

Exential is currently affiliated with S&S brokerage house which is renowned and who in turn are regulated by the Central Bank of the UAE. Through this license S&S can facilitate brokers within the UAE to conduct business. S&S has thus provided us with an authorization letter stating that we can solicit clients and conduct business in the form of Money Managers within the UAE


Base of Operations
Tadawul ME and Exential Mideast are currently solely based in Dubai. Our base operations are as mentioned below:

Exential Mideast/ Tadawul ME,
Arenco Tower, office # 003, office 707
Dubai Media City, Dubai, UAE.

Kindly note that Tadawul ME has no relationship with any similar named companies existing in any parts of GCC and other parts of Europe. However we do operate under the brand name of Exential Saudi in the Kingdom of Saudi Arabia. And Capital Control in Hungary. We exist and hold a registered license in the UAE.

 

[investorone]

You can pull out your account anytime. It’s your choice. No one is stopping anyone on doing this. If you have sleepless nights on this investment then better pull out your account.

Choose an investment scheme that you’re comfortable with and satisfies all your requirements. But it should NOT be that if you’re NOT satisfied with Exential then others should not be satisfied also. People have different risk appetites.

People are reading this thread and it’s their choice if they will stay with the company or not. It’s their money at the end of the day.

 

[SilentSpectator]

You can pull out your account anytime. It’s your choice. No one is stopping anyone on doing this. If you have sleepless nights on this investment then better pull out your account.

Choose an investment scheme that you’re comfortable with and satisfies all your requirements. But it should NOT be that if you’re NOT satisfied with Exential then others should not be satisfied also. People have different risk appetites.

People are reading this thread and it’s their choice if they will stay with the company or not. It’s their money at the end of the day.

Well I guess my money stays in. The only reason i will be pulling out will be to test Exentoal's liquidity. Unfortunately, a single account withdrawal wouldn't be anywhere close to sufficient for this. I'll tallke my sleepless nights and 6+k aed monthly thank you.

 

[FXburner]

Summary:

S&S BROKERAGE HOUSE: License Partners
FCI / ELP: Brokerage Partners
EXENTIAL/ TADAWUL ME: Money Manager

Exential is currently affiliated with S&S brokerage house which is renowned and who in turn are regulated by the Central Bank of the UAE. Through this license S&S can facilitate brokers within the UAE to conduct business. S&S has thus provided us with an authorization letter stating that we can solicit clients and conduct business in the form of Money Managers within the UAE

I have S&S Brokerage's Central Bank license in front of me as I type this. One line should give any investor in Exential pause: "Please note that this license does not permit the holder to accept deposits or manage others' funds in any form whatsoever."

Forget any authorization letter. Exential seems to be using an innocuous IB agreement with a seemingly legit company (S&S) that is not licensed to manage others' funds in order to manage others' funds with shady offshore brokers (FCI and ELP).

And why should S&S' license even matter to you when there's no evidence investor funds ever go directly through them? Got the wool over your eyes, man.

However we do operate under the brand name of Exential Saudi in the Kingdom of Saudi Arabia. And Capital Control in Hungary.

...why is this nowhere online besides their newsletter? You would think they'd have Hungarian and/or Saudi sites up and running if this were actually the case.