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

EU Investor

Recruit
Messages
1
I'm looking for good investments. I saw My MTI Club (at mymticlub.com).

Can anyone tell me about it? The site makes it sound very like a good thing. I just want more information before I decide about investing.
 

Pharaoh

Colonel
Messages
20,114
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
 

Zercon

Private
Messages
10
Hi everyone , looking at this platform you pay BTC into their platform and their bot trades for you making around 8-10% a month my problem with the system is that your money is not under your account at the broker they give statements but no verified myfxbooks or proof that they are actually using a real broker. Does anyone have more info on this if it is legit or not?
 

acertablet

Sergeant
Messages
293
I'm looking for good investments. I saw My MTI Club (at mymticlub.com).

Can anyone tell me about it? The site makes it sound very like a good thing. I just want more information before I decide about investing.

if they dont have myfxbook or use regulated broker, its scam.
Code:
https://www.forexpeacearmy.com/community/threads/good-account-management-and-signals-providers.65473/post-366789
 

Pharaoh

Colonel
Messages
20,114
The broker is irrelevant. The US CTFC busts Ponzi schemes all the time. Typically, the scammer really does have a live account, often with a fully licensed and well regulated broker. There are just 2 problems. The account almost always losing (often very badly), and most of the "pooled" client money never got into the trading account.
 

Pharaoh

Colonel
Messages
20,114
I see they've gotten mymticlub.com back online. That's good. I'd hate for them to disappear so quickly. Instead, I'd love for them to come and join the conversation. I want them to share some evidence about how great they are - if there is any such evidence. ;)
 

Staniis

Recruit
Messages
2
I'm actually invested in that company, I didn't invest much but I'm still in the journey of searching up for more solid evidence than they are legit. As much as I want to believe in them, and as nice and honest Johan looks, I wish it was enough to know the company is not going to fold tomorrow.

The statements they put, some people say they double checked it with the numbers on the price gates... And even tho it proves something, it's definitely not enough to prove those trades were actually done by them.

Another "proof" was mainly YouTubers that claim to be legit, and claim to have checked the trading bots in action by physically visiting the place, it does adds a little confidence but still only to some extent (I'm not saying they are Liars but . So I would love the company to show actual proof to leave this doubt behind. It's enough that we have the investment risk so... Yeah.

Hope they're as legit as they say, it's a great opportunity.
 

Bormic

Recruit
Messages
2
I did my research the broker is called fxchoice. I withdrew 100$ so what’s to say it wouldn’t work for More. So far with the people I know that are in it including myself haven’t had any problems and statements are given out every day
 

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Pharaoh

Colonel
Messages
20,114
I hope it is legit, but I have serious doubts about this company's claims.

Someone sent me a link to a secret video that "proves" it's legit. The video shows a few minutes of looking at the account. To save myself some typing, here's what I just sent to the person who sent me the link:

I'm not going to share the video link, but I will make public comments about the video, since I know it's being used to convince people this is legitimate.

I'm not in the habit of flushing my money down the toilet, so I'm not planning to try this. It smells of Ponzi and the video does nothing to allay my suspicions.

The video isn't clear enough to see any numbers. It may be a live account, it may be a demo account. They mentioned the date was correct, but it would be very easy to have 10 demos trading slightly different settings and chose one that successfully closed one trade and showed it on a modest delay.

Another possibility is that the witnesses are shills, which means they could have actively cooperated with filming and refilming until it was right. The source if the video is invested and an affiliate, so has a vested financial interest in having more people sign up.



If the people behind this investment are brave, let them come here and try to convince me with something more than 5 minutes of blurry video presented by someone who's desperate to build his downline.

It's lucky for me I haven't joined MTI. Just pointing out the potential regulatory issues, questioning the video, and pointing out how this shows Ponzi warning signs would probably get me suspended if I was a member. The TOS forbid actions like this:

"making any false or misleading remarks, statements, innuendos or spreading rumours that may disparage MTI, its products or services, its bonus plan, its employees, its founders or other MTI Members or business partners."

Guess what Mirror Trading International. I'm way beyond rumors and innuendos. Your business IS highly suspicious and if you aren't willing to step up and directly and openly address those suspicions, I'll consider that to be one more sign that the company is nothing but a Ponzi scheme.

I'm going to give you a chance I rarely give. Meet my terms and prove me wrong and you win a valuable prize. The contest is called a Pharaoh Challenge. I've issued it against a number of suspicious investment companies. All have failed. Will you be the first and only to win?

To win, you have to arrange for some facts to prove that you are legitimate.

1. Explain how collecting large amounts of BTC and then pooling that to trade forex somehow means your company doesn't have to be regulated. Please include a direct links to the part of South African regulations providing this exemption and also have the South African FSCA email the FPA to confirm your company does not need to be regulated. Use THIS LINK to get in touch with the FPA. Someone there will tell you the best email address.

Plus either 2a/b or 3.

2a. Since someone will have already given you the correct email address for the FPA. You are set for the next step. I'm sure the Admin will be happy to keep the details, other than the calculation of profits/losses for each account, confidential. What you need to do is contact each broker that you have a live account with. Ask them to send an email to the FPA with the following info for each live account you have with them:

Account number, Date of first deposit, account currency, total net deposits to account, Current Balance, Current Equity.

2b. Repeat step 2a monthly for 3 months.

Note that if an account opens or closes during a month, that should be noted on the accounts list for that month.

OR

3. Deposit at least $25,000 USD in a live account with a broker not formally marked as SCAM by the FPA, rated at least 2.5 stars, and registered with at least 1 regulator. Make no additional deposits and do not withdraw any money. Have the broker email the FPA with the account number, date of first deposit, account currency, and amount of deposit.

At the end of 3 months, close all open trades and have the broker email the FPA with the account number, date of first deposit, account currency, and amount of deposit, and the account's balance and equity.


This is actually the EASIEST Pharaoh challenge I have ever issued. I'm giving you 2 choices in how to be evaluated.

If you can do this, I expect your returns across all accounts to average at least 8% per month. Considering that your website uses a higher return rate in it's calculator of expected profits, I don't see how this should present any problems for you.

If you meet my terms, I will publicly state that the FSCA has stated that your organization does not need to be registered with them and that your profits are sufficient to legally provide a very high rate of return without the need to use Ponzi-Style methods to pay profits. I will also declare that you are the FIRST AND ONLY company ever to take and pass a Pharaoh Challenge.

If you meet my terms and end up with at least some profits after 3 months, I will publicly state that the FSCA has stated and that your organization does not need to be registered with them and that your company is capable of making at least some profits, which is more than any other challenged company has ever done.

Meet my terms and end with a loss, and I'll tell everyone who collected profits during those months that they need to have a long talk with the FSCA really needs to increase its regulation, since you are paying profits while losing money.

Ignore the challenge or decide it isn't worth your time and effort and many potential clients will wonder if you have something to hide.

Please don't waste time bragging about paying like clockwork. Well run Ponzis do pay like clockwork. Sometimes they only survive for a few months. Sometimes they survive for many years. What they all have in common is that they offer far too much profit and amazingly ambiguous descriptions of where it comes from - and, sooner or later, they collapse.

Here are a few examples from right here in the FPA's forums:

https://www.forexpeacearmy.com/community/threads/managed-account-question-courtenay-house-trading-group.47495/

https://www.forexpeacearmy.com/community/threads/tadawulme-exential-group.35478/

https://www.forexpeacearmy.com/community/threads/anybody-heard-of-tirn-www-mytirn-com.2451/

In each of these, there were all sorts of wild claims of how profits were made. There were also attacks against anyone who dared question the magic money trains.

This one is one of my favorites. It wasn't even a managed account company. A big established forex broker suddenly offered some high return investments and had unlimited excuses on why they had no audited records of these mysterious profits. Then one day they stopped paying. Not long after they, and all the money disappeared:

https://www.forexpeacearmy.com/community/threads/mfxbroker-new-era-of-social-trading-investments.39291/


Big returns are a big claim. Big claims should no be believed without big evidence. Keep your money in your wallet and let's all wait to see if MyMTIClub aka Mirror Trading International can come up with even the modest evidence I've requested or not.
 

Pharaoh

Colonel
Messages
20,114
Oh, I almost forgot - if I don't put in a deadline, MTI could claim to accept the challenge and then delay indefinitely, sort of like MFX and their promised audit that was "coming soon" for over a year.

Today's June 19th. I'm sure MTI will find out about this soon and will then need to decide what to do. I'll be very generous and say theu should respond within 3 weeks - by July 10th. Once they respond, I expect they should be able to start providing regulatory info and broker account info within 1 week. If they feel any of my terms are unfair, I'll be happy to discuss reasonable alterations.
 
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