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

Max A

Recruit
Messages
4
MTI CEO ANNOUNCEMENT


SOUTH AFRICAN REGULATOR FSCA, THE US TEXAS SECURITIES COMMISSION AND SOUTH AFRICAN NEWS PUBLICATION NEWS 24 BRING FOCUS ONTO MIRROR TRADING INTERNATIONAL (PTY) LTD (MTI) REFERING TO MTI AS A “STELLENBOSH-HEADQUARTERED COMPANY FINGERED AS A “GET-RICH-QUICK SCHEME”

Not unexpectedly and because MTI is operating in the online passive income building industry which has a notorious and demonstrated reputation for scams and Ponzi schemes and, due to the nature and Modus-Operandi of the robust MTI referral-based business model, MTI is automatically by default behaviour of the media and some regulators, being perceived by associative conclusion that MTI is but another of these.

This unfortunate and misinformed perception is far from the reality of what MTI is as a newly formed (15 month old) highly innovative business and brand that the founders would like to see growing over many years into a global, iconic and heritage brand in the market trading sector.

Changing this perception once and for all, by showing and demonstrating to regulators and the media that such a business model can on a Bona Fida basis exist and successfully operate and grow on an organic basis in this notorious sector is not only possible, but is being done by MTI.

To this end, MTI will in the coming period be placing great emphasis on engaging with and working with any regulator with a clear purpose at all times; to be fully compliant as a professionally managed company and brand that delivers sustainable growth and value creation to its stakeholders, and which intends to be around for many years to come.

MTI is already in discussion with the South African Financial Sector Conduct Authority (FSCA) with regards to a meeting in Pretoria in the next two weeks and MTI will be engaging with the US Texas Securities Commission in this regard.

CEO Request to Members

To assist this important process, CEO Johann Steynberg requests that any MTI member anywhere in the world receiving any regulatory or similar information of any kind, should not circulate this in member groups, which creates confusion and uncertainty, but rather, send such information directly to support@mymticlub.com, who have a protocol in place for handling this. This is also a requirement of Clause 8 of the MTI terms and conditions of membership, for which contravention of can result in termination of a member’s membership.

MTI CEO Johann Steynberg concludes: ”The time has come, to for once and for all, address and reframe the reputational perception issues of regulators, the media and potential members about this industry, through MTI demonstrating that a genuine Bona Fida business and brand using an innovative business model of integrity can exist and grow sustainably in this sector. I am personally very determined to see this through and together with and supported by MTI’s professional advisors, this process is now underway.
 

Max A

Recruit
Messages
4
This unfortunate and misinformed perception is far from the reality of what MTI is as a newly formed (15 month old) highly innovative business. Hmm... is it really innovative to take money from the public and try somehow make money by Forex Trading?) And there is a big question if they do any trading or just collecting money.
 

Pharaoh

Colonel
Messages
20,046
Unfortunately, they don't hear you. They are ready to believe in any lie coming from MTI.

Most won't hear me. If even one or two are smart enough to listen, to read up on Ponzi schemes, and to get their money out before the magic money train goes off the tracks, my time won't have been wasted.

CEO Request to Members

To assist this important process, CEO Johann Steynberg requests that any MTI member anywhere in the world receiving any regulatory or similar information of any kind, should not circulate this in member groups, which creates confusion and uncertainty, but rather, send such information directly to support@mymticlub.com, who have a protocol in place for handling this. This is also a requirement of Clause 8 of the MTI terms and conditions of membership, for which contravention of can result in termination of a member’s membership.

So, if you are a member, and you see a public announcement by a government agency concerning issues with MTI, you will keep silent in member groups or else! Confused and uncertain people might ask the wrong questions or even share facts with more regulators.

After all, CEO Johann Steynberg will be the only one who is allowed to speak to members about actions taken by regulators. Don't let those nasty government people pointing out obvious signs of scam disturb you. Just stay focused on keeping your mouth shut so you can keep earning (even if there's no successful trading happening).

Don't think for yourself. Let Johann Steynberg explain away your well founded suspicions in his investment scheme by using gems of wisdom like this...

The time has come, to for once and for all, address and reframe the reputational perception issues of regulators, the media and potential members about this industry, through MTI demonstrating that a genuine Bona Fida business and brand using an innovative business model of integrity can exist and grow sustainably in this sector. I am personally very determined to see this through and together with and supported by MTI’s professional advisors, this process is now underway.

Yo Mr. Steynberg, you really need to do better addressing these reputational issues. Do you think that I take the time to warn people to get money out because I'm bored? You also threw away the chance to win a Pharaoh challenge, which would have resulted in many people investing. The most logical reason I can think of for you not to take the challenge was that you knew you would fail, thus proving your investment scheme is really an investment scam.

Does anyone really think the Texas State Securities Board went to the effort to take action against your scheme just because the agents there were bored and didn't have enough real scams to chase?

Those perception issues are based on over 100 years of Ponzi style scams. If anyone doesn't believe me, just consider what you know about My MTI Club and compare it to the US Securities and Exchange Commission's list of Red flags for Ponzi schemes:


Many Ponzi schemes share common characteristics. Look for these warning signs:
  • High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.
  • Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.
  • Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.
  • Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
  • Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
  • Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.
  • Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over.

Looks to me like Mirror Trading International scores pretty high all but the last one. The reason for that is a well run Ponzi will pay like clockwork as long as enough new money is coming in. Once delays begin to happen, most Ponzi's then fail quickly. As it is, MTI gets bonus points for having unlicensed promoters in Texas with a history of bankruptcies. :D

You don't have to take my word for it. If you are in the USA, pick up a phone and call the SEC yourself at (800) 732-0330. You also don't have to take Johann's word for how things are going with the Texas State Securities Board. You can call them at 512-305-8392. You can also call or email regulators in your own state or country. Let them know about what Texas is doing and let them know you are worried that you may be a victim of a Ponzi scheme. Give them all the facts. Even Johann Steynberg's attempt to silence you with Clause 8 can't legally keep you from sharing the details with the regulators and asking them whether or not his scheme is nothing but another common fraud built on basic Ponzi principles.

And, most of all, get your initial investment out NOW. In the event (very unlikely in my opinion) the regulators in Texas and South Africa (and others who may also be investigating) all decide that MTI is so great that all complaints are all dropped and every one of the investigators place their retirement plans with MTI, you can always put more money in later.
 

thePridge

Private
Messages
10
Came here from the latest video interview released...

I've done crypto stuff for a number of years, I've mined, traded and masternoded. I took one look at MTI and went "nah bro...this is dodgy". This is also because I've seen MANY crypto based ponzis come and go over the last few years.

I've tried warning people about MTI... But the don't want to listen.

I sent them the Texas Securities Board order... and they sent me back the statement from MTI... The statement called it "rumours and articles" and said that "everything is still functioning as normal in MTI"... I've asked MTI if they have respected the order or not because if they have and have stopped operating in Texas (until they appeal) then everything isn't running as normal... And if they are ignoring the order and carrying on they are breaking the law in Texas... EITHER of these options is super dodgy.

Even simply plugging the numbers into an Excel sheet... They make apparently 1% per day profit... I'm a software developer, if I'd written a bot that traded at 1% per day profit I would just leverage EVERYTHING I could, house, credit cards, family and throw 500k or a bar into my bot for 12 months and be STINKING rich after a short while... WITHOUT the added effort of splitting up income/sharing the pot and exposing myself to being called a scam/ponzi.
 

Jolom

Recruit
Messages
7
Interesting local perspective. mybroadband.co.za/forum/threads/mirror-trading-international.1064664/
 

Pharaoh

Colonel
Messages
20,046
Hey everyone. Here's another regulator warning that you can't discuss in the MTI member's area:

https://lautorite.qc.ca/en/general-public/fraud-prevention/illegal-on-line-trading-platforms/warning-list-of-websites-and-companies-that-solicit-investors-illegally/

If you are in Canada and have been solicited to join MTI, let your provincial financial regulator know all the details, whether or not you joined.


Ludo! Oh Ludo! Where are you @ludoamy? I'm waiting for you to tell us what alternative scam you think is being promoted by anyone posting in this thread (excluding the alternate investment you tried to push). It's looking more and more like you aren't brave enough to come back and convince us all to throw our cash into MTI. Your cowardice makes it look like you already knew Mirror Trading International was a scam and your only plan was to help keep it running a little longer while you collected commissions for sacrificing other people's money to the false hopes you tried to give. Is Amy proud of you?
 

thePridge

Private
Messages
10
Trader peoples:


Comments on his understanding of trading? Is he right that you are only "betting on the outcome" or are you actually placing buy orders at whatever price... so if your order triggers you literally just bought whatever number of euros for the dollars you placed an order for? (this is how most of the crypto markets I've bought and sold on work).

I.e. do you need to put FIAT into the broker account to trade?
 

Pharaoh

Colonel
Messages
20,046
Some brokers do accept deposits in BTC. The drawback is that BTC is very volatile, so a downturn could deeply damage the dollar value of the account. To claim to have profits every day as the value of BTC widely fluxuates against the value of the currencies being traded only makes the whole Mirror Trading scheme seem that much more likely to be a scam.

One reason I can think of for an account manager to want clients to deposit in BTC instead of actual money is that this bypasses all the usual checks done on bank wires. Yes, all BTC transactions are recorded in the blockchain, but it's easy have the BTC to be placed into an anonymous wallet, then go to a crypto conversion site, and swap that BTC for some other crypto. Then move it somewhere else, convert it to cash, and laugh at all the fraud victims who can't trace were their money went.
 
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