Ponzi Scheme Can anyone tell me about My MTI Club? (mirrortradinginternational.com/mymticlub.com)

[louise.kepinska]

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.

 

[Venator]

Links between confirmed wallet addresses used by MTI and addresses that have been flagged over the years for various crypto scams, fx scams, BTC Global, and even an apparent terrorist cell.
It seems that MTI might be routing their taking through a crypto tumbler.

mybroadband.co.za/forum/threads/mirror-trading-international.1064664/post-25898242

 

[Pharaoh]

Is that your biggest consurn? Ok first it was in my experience 10 out of 10 would sell me something. Now is that 10 out of 11.

But what i find childish that you (who else) aranged the words "Ponzi Promotor" on my account without checking if a was aware that i promoted a possible scam.

LudoView attachment 56483


FPA Forums Administrator Note: You were promoting a Ponzi scheme. You did this by...

1. Posting your own affiliate link.

2. Endorsing the company.

3. Trying to discredit FPA members who were smart enough to point out the problems with the company.

If you had listened to Pharaoh and the others instead of childishly attacking them, you could have figured out MTI was not what it claimed to be much faster. Instead of banning you, I was nice enough to label you based on your actions while still letting you post.

I didn't have to arrange it - The FPA's forums admin is the one who tipped me off to a possible Ponzi thread since he knows how good I am at exposing the warning signs and arguing with the True Believers and shills. He's been following the thread, but threatened to make me pay for his popcorn if it went over 20 pages.

I'm pretty sure you are the only one to ever post an affiliate link in one of these threads (I'd need to recheck a couple of the oldest threads to be sure), but you aren't the first to get labelled as some sort of Ponzi fan or Ponzi promoter.

I recommend against calling the FPA's forums admin childish. He might just decide to give you an atomic wedgie.

As someone who has promoted at least one obvious scam, I think you need to save the insults and spend some time educating yourself before you lead your downline into some other questionable enterprise. This should help you avoid the embarrassment of finding yourself publicly promoting and defending another Ponzi:

Ponzi Schemes and HYPS - Free Money Traps

Read it closely.

 

[It's Britney B*tch]

I’m leaving this comment here in the hopes that someone who is on the MTI thread on the mybroadband forum will see it - I’ve seen some references to this forum on that thread, so was hoping there might be some crossover! If anyone on that forum sees this comment and would like some info on Cheri and Clynton, please PM me - I’ve tried a bunch of times to register on the mybroadband forum, but for some reason I get an error message every time I try, very frustrating! This is literally the only way I could think of to share my info. I've been following your convo for weeks but can't contribute :/

 

[Snyper564]

Thanks for your guys input its been causing chaos all over the MTI sphere it is I Snyper564 from MyBB

 

[Pharaoh]

I’m leaving this comment here in the hopes that someone who is on the MTI thread on the mybroadband forum will see it - I’ve seen some references to this forum on that thread, so was hoping there might be some crossover! If anyone on that forum sees this comment and would like some info on Cheri and Clynton, please PM me - I’ve tried a bunch of times to register on the mybroadband forum, but for some reason I get an error message every time I try, very frustrating! This is literally the only way I could think of to share my info. I've been following your convo for weeks but can't contribute :/

Feel free to share the info here too. The more public sharing of the info about who is behind these schemes, the harder it will be for them to launch new ones.


And, I'm throwing a Ponzi Party today. You're all invited:

https://www.forexpeacearmy.com/r/general-articles/2448/happy-ponzi-day-100-years-ponzi-schemes

 

[Snyper564]

Feel free to share the info here too. The more public sharing of the info about who is behind these schemes, the harder it will be for them to launch new ones.


And, I'm throwing a Ponzi Party today. You're all invited:

https://www.forexpeacearmy.com/r/general-articles/2448/happy-ponzi-day-100-years-ponzi-schemes

Add my favorite podcast

General 2 — Parcast

www.parcast.com

Charles Ponzi and Bernie Madoff are covered quite nicely

 

[Snyper564]

Red flags and smoking guns everywhere!



This is pure gold! FXChoice is not holding back at all now!

 

[CuriousKate]

Now I’m just wondering about this. FXchoice say they they booted MTI on the 10 th of June, and on the 26nd of June thay say they can’t divulge any client information....? Who is this George and why doesn’t het give his full name, and why don't they Do a proper press release or press charges?

 

[Venator]

Now I’m just wondering about this. FXchoice say they they booted MTI on the 10 th of June, and on the 26nd of June thay say they can’t divulge any client information....? Who is this George and why doesn’t het give his full name, and why don't they Do a proper press release or press charges?
View attachment 56698View attachment 56699

You really ought to do some searching. FXChoice already has put out a statement in public via their Twitter account.