louise.kepinska
Corporal
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Let's me take a look. The website is down. If it doesn't come back, be grateful you didn't invest. Time to use alternative investigation methods to get ahead of the curve if it does come back.
mymticlub.com - Registered on August 9, 2019. I personally don't like investing in companies without a much longer history (and a proven track record to go with that history).
Google's cache of the homepage shows the company calls (called?) itself "Mirror Trading International." That sounds like a social trading service, but the description is more like a pooled investment.
Note that what I'm about to say does not apply to PAMM accounts - on those, the broker puts your money in the pool and you can see how well/badly things are going as well as invest/withdraw via the broker.
Pooled investments that are not like PAMMs are very dangerous for 2 reasons.
1. How do you know any results the company shows you are real? Unless you can login with the investor password, you can't be certain whether or not ANY trading is going on. Results in a spreadsheet are just numbers entered into a spreadsheet and may or may not be based in reality. Even broker statements can be faked, unless the broker sends those directly to you.
2. Even if you can get a quick peek at a live account, how do you know that your money is in that pool? Check the CFTC's enforcement press releases. All sorts of profitable pooled investments are really losing pooled investments and most of the money never went anywhere near the broker. Instead, it went to finance the lavish lifestyle of the people running the pool and to pay out some of the non-existant profits to early investors. If this is what's happening, your money is in a Ponzi scheme.
I was checking the Google cache on some of the pages and discovered something.
mirrortradinginternational.com (created April 23, 2019) appears to be identical. This makes my life a little easier.
Funny, the video on their homepage is unavailable. Their "Videos" page shows 3 of their 4 videos as down - mirrortradinginternational.com/videos/ They do have some additional videos on YouTube - youtube.com/channel/UC96zVhuCPm83_HwGTJZ3x0A
They claim daily profits. They also have an "income calculator" (https://www.mirrortradinginternational.com/income-calculator/) which claims a 1 bitcoin investment will turn into 1.11597216 BTC after 1 month. That's over 11% per month. Yes, it says this may not happen, but the concept is to make potentia clients focus on this calculation of high gain and not worry too much about potential loss. What you should really be worrie about is whether you'll ever see any of your money again. As I've pointed out in many other Ponzi scheme threads, Bernard Madoff only offered 10% per year. What makes anyone think some unknown investors can frequently make more than that in a month?
My advice: Don't invest even 0.000000000000000001 BTC until:
MTI's broker sends a statement showing profit on a live account for at least 1 full year.
The South African regulators confirm that MTI doesn't need to be registered with them.
Can I PROVE it's a Ponzi Scheme? No. That can only be proven by a detailed examination of the company's trading records as well as an audit of all the money taken in and disbursed. On the other hand, this has numerous Ponzi-type warning flags.
Read this and then go through the website again to see what I mean:
Ponzi Schemes and HYIPS: Free Money Traps
You always share such incredibly valuable info when deconstructing these things.
Thank you so much.