Ponzi Scheme TadawulME / Exential Group:

[investorone]

just to keep the thread balance... just visit the link....

instaforex.com/forexpeacearmy.php

 

[forexing]

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?

Actually, the graph you have posted is not discussing the monthly gain. Only the monthly gain CHANGE. That is, the change in gain currently from the month prior.
If you want to see the profits - select the profit tab, beneath the change tab. I have only glanced over this thread and don't hold any accounts with Exential, but those profits are based on 1 account.

 

[764892]

@forexing, you're right, that is the monthly gain change.

Even so, the website numbers do not match up with the posted myfxbook profits (which are suspect anyway as they do not reflect the gain change tab and Exential has injected large, unmirrorable amounts of cash whenever the system starts crashing). And, as you'd see if you'd read this thread, there is no evidence of there being other systems, as the myfxbook page is all investors have access to.

The website numbers are pulled out of thin air.

 

[SurfO]

@forexing, you're right, that is the monthly gain change.

Even so, the website numbers do not match up with the posted myfxbook profits (which are suspect anyway as they do not reflect the gain change tab and Exential has injected large, unmirrorable amounts of cash whenever the system starts crashing). And, as you'd see if you'd read this thread, there is no evidence of there being other systems, as the myfxbook page is all investors have access to.

The website numbers are pulled out of thin air.

-the website numbers shown what us as clients make after they deduct their fees , the myfxbook shows the total made at a given month b4 deduction.
-the extra amounts of cash they injected is exactly what needed to be done to keep the account healthy , at least they did it without asking investors to pump in order to sustain the business , any other fund manager would have told u thank u for ur business but its hard for me to keep up and u can take whatever is left and say goodbye , legally ! it would defer to the percentage ofcourse stated in their contract , however the point is everyone is making money here , so why dump the business ! if it was me and this liquidity is available to me i will do the same to protect my investment , if this shows something than actually it shows that they have gone the extra mile to safeguard everyones money , otherwise why bother !!

 

[Pharaoh]

just to keep the thread balance... just visit the link....

instaforex.com/forexpeacearmy.php

Maybe you need to read some reality instead of garbage InstaFraudex recycled from the dead scam broker Forexgen.

To put this back in perspective, Insta throw all that garbage out to try to cover themselves when they got a well-deserved scam finding. The FPA cancelled InstaForex's ad contract after they broke promises to provide evidence to support taking profits away from 2 traders. So much for any claim of the FPA blackmailing them. The FPA always tries to contact brokers and resolve issues before Traders Court Cases and Scam Findings, with the sole purpose of getting money paid to clients, not to the FPA. So much for any claims of the FPA blackmailing anyone else.

Take a few moments to read some facts about how InstaForex deals with clients before using their lies to defend another company:

https://www.forexpeacearmy.com/fore...older/3484-new-excuse-confiscate-profits.html

 

[Pharaoh]

investor101 The company is existing for more than 6 years. Do you think the authorities here are too blinded not to notice if this is an illegal scheme? If you are so 101% sure that it’s an illegal business as what you’re claiming on all your posts why don’t you go to the authorities and file a complaint if you are indeed a concern citizen? But oh no you can’t complain because first no one is losing their money and second you are not an account holder.. Pathetic!

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.

And goin back to the posts an average person with an average IQ will notice that slowly someone is offering financial advisory indirectly but claiming they have friends who help them ! which in turn will send them all the PMs from the shaky investors whos livin the panic and the fear ! ofcourse along with some new FUND MANAGERS comin to surface and its clear in the previous post , history repeats itself , Sterling came in burnt ppl in hedges and soaked their capitals and no one called it a scam becoz they were losin trades like crazy !! however when Exential is in question its always a PONZI !! isnt that strange ? is it the awesome pessimism of humans or its the envy that drives them !! and if this account is making money , even not 9% like some claim, then why wouldnt Exential just make it their business ! but no its all PONZI as who ever is spreadin the rumor now is claiming , i have tried not to be subjective as im an old investor , however the negative posts that is not backed up by proof irritates me , its called scam marketing were someone ruin ur reputation to steal ur clients , clients who are addicted to invest and make $$$ , not to go further and discuss how legal live trading scams are made , i here invite anyone who can offer me PROOF for a challenge of knowledge so plz step fwd here live were everyone can see the post and make up their minds . prove me wrong about exential for what its worth !

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.

 

[764892]

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.

 

[yrwecomplaining]

Has anyone bothered to email myfxbook

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.

Has anyone bothered to even email myfxbook support and ask about the company in question, if you haven't I suggest you do.

All trades are and have been directly verified from the participating broker.

If the trades have been verified through myfxbook then its good enough for me

 

[yrwecomplaining]

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.

Furthermore may I ask if people think that an average of 8 to 10 per cent a month is not achievable in the forex market, if you think the answer is no, then think again.

Im not defending the company in question but I have spoken to Fund managers in London and Sydney and money managers that are any good will achieve these returns consistently.

As for a ponzi only time will tell

 

[Expat]

Hi Everyone,

Been following this thread from the sideline for a while & looking to invest in the forex market in the near future.

Putting the company being discussed aside the good news is there are an increasing amount of options becoming available in the world of Forex trading, & as time goes by so do track records. I spent a day googling reputable managed forex traders & there's a few with 3 years plus good verified track records using well known mainline independent Brokers. From my 1 day googling I've come up with a few things I would not venture into any future investments without:

1. If you can not use an independent reputable Brokerage firm in which you can see everything happening & have control over your account don't do it.

2. Certified proof of past performance.

3. Risk versus reward. i.e. maximum draw down on past performance & stop loss insurance (50%-80% or whatever). This is a preference each person should decide individually dependant on their own portfolio.

4. Lastly don't just invest with one! Hedge your bets across as many reputable Managers as possible.

Although Forex is risky, a lot of the risks can be eliminated by doing your own due diligence. There are actually Money Managers out there that you can invest with who will do all this for you. I've found the top performing companies out there can offer up to 3% net return a month whilst ticking the boxes above & allowing you to sleep at night.

Like I said though I'm only a day into it but am quite impressed with what the forex market will have to offer over the next 5 years. It seems if you do your homework, minimise your risks by diversity & don't get greedy, you can still make a lot more money that the bank can't offer (3% per month instead of per annum) with possibly less risk than the stock market or property.

Good luck everyone!