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

thePridge

Private
Messages
10
So anyone can join the Forex Army claiming that they are who they say they are, using a brokers logo and telling they have an official announcement? Without any identity check? If that was the way my palace was run I would get a divorce!

Your distrust is 100% valid and understandable.

You can go to the FX Choice site and click their "live chat", chat to an agent and give him/her the link to the statement and ask them if it is real... I did and they confirmed that the statement is 100% factual.

FPA Forums Team Note: The FPA confirms that user George A. is an employee of FxChoice. If he wasn't, we would not have set his user title to be FxChoice Representative.
 

Donald Trump

Recruit
Messages
1
FX Choice representative I have some questions about your company first. I wanted to see if it was customary to divulge information about a client’s past records and current activities. This seems to be a bit inappropriate to release this kind of information without the expressed consent of the client or a clear breach of contract negating the contract between the two parties. I certainly hope you wouldn’t do this for me if I were a client. Maybe this is why MTI hasn’t used FX Choice for over a month

While MTI doesn’t deny that they have strong MLM elements, the text states that you blocked them because of this fact and because they aggressively market. I don’t know of a single financial company that doesn’t take aggressive stance to getting new business. I have reviewed the letter from the Texas Securities commission and believe that MTI is currently addressing this regulatory issue. I also believe there is significant “old money” involved in the decision making process and push prevent business for newer crypto currency companied from taking new customers away from other traditional securities organizations.

According to forexbrokers.com “FX Choice is considered high-risk, with an overall Trust Score of 54 out of 99. FX Choice is not publicly traded and does not operate a bank.” There for they are considered a “high risk broker” with a trust score of 54 of 99. I’ll continue my research into MTI but I’m guessing that there is bad blood between the two companies for some reason and this is why FX Choice chose to come out and release such a strong statement.

Regarding aggressive marketing tactics; as stated by FX choice representative. There is a $250 commission for bringing each new client and a %15 bonus to deposited money. So I personally would consider this to be aggressive. From what I can tell this a case of the pot calling the kettle black.
 

Forex bison

Private, 1st Class
Messages
52
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
That pretty much covered that haha
 

thePridge

Private
Messages
10
That pretty much covered that haha

Pretty much. And they refuse to disclose who the apparent "new" broker is after they apparently moved from FX Choice 2 weeks ago.

In one sentence the main defender claims "who said we use FX Choice? What are you smoking?". In the next sentence "We moved from FX Choice because we didn't like the service". So which is it? It can't be both?

I could literally build you a "system" like MTI's backend in a week or two... it could automatically generate the "statements" (I could probably pull the statements from real live data on live trading platforms... many marketplaces have APIs you can pull stuff from... done lots of market integration for crypto markets in the past). Then have all the other up and downlines calculate automatically. Make some fake numbers appear on the screen and bob's your uncle.

They don't even have ANY KYC stuff... but they can "disable" your account at a moment's notice if you share negative news/media with fellow members or share your earnings on social media (in their T&Cs).
 

thePridge

Private
Messages
10
FX Choice representative I have some questions about your company first. I wanted to see if it was customary to divulge information about a client’s past records and current activities. This seems to be a bit inappropriate to release this kind of information without the expressed consent of the client or a clear breach of contract negating the contract between the two parties.
FX Choice disclosed no specific data.

MTI 100% lied about using FX Choice as their main brokerage. Johann himself claimed this (not just some lowly affiliate that "was misinformed"). On the backs of the claims of automatically trading with a bot at FX Choice people have been encouraged to give their BTC to MTI.

I certainly hope you wouldn’t do this for me if I were a client.
If you were to lie about using them as your broker to get people to join your scheme or program I would hope whatever platform would also release a statement exposing the lies.

the text states that you blocked them because of this fact and because they aggressively market.
It was a combination of claims of trading with a bot (which FX Choice could see was not true), the MLM, the pooling of BTC. MTI also did not provide requested documents after their account was blocked.

Texas Securities commission and believe that MTI is currently addressing this regulatory issue. I also believe there is significant “old money” involved in the decision making process and push prevent business for newer crypto currency companied from taking new customers away from other traditional securities organizations.
Whether the Texas Order is right or not regarding crypto etc is irrelevant, the process of law must be followed... When asked whether MTI has ceased operations in Texas or if they've appealed the order official representatives refuse to comment. So what is MTI currently doing? Their appeal window is almost closed.

According to forexbrokers.com “FX Choice is considered high-risk, with an overall Trust Score of 54 out of 99. FX Choice is not publicly traded and does not operate a bank.” There for they are considered a “high risk broker” with a trust score of 54 of 99. I’ll continue my research into MTI but I’m guessing that there is bad blood between the two companies for some reason and this is why FX Choice chose to come out and release such a strong statement.

Regarding aggressive marketing tactics; as stated by FX choice representative. There is a $250 commission for bringing each new client and a %15 bonus to deposited money. So I personally would consider this to be aggressive. From what I can tell this a case of the pot calling the kettle black.

Nice straw man there. Can you link the forexbrokers.com review?

The bottom line is:
MTI lied about trading at FX Choice with a bot. Whether FX Choice was right or wrong to be a "whistle blower" is another conversation.

IF MTI is trading legitimately it would have been prudent of them to release an official statement BEFORE moving most of 12 000 - 13 000BTC ($135 567 600 - $146 760 900) as this would have negated ALL of these conversations. MTI continues to evade questions and make up stories and hide information. They tell people to do their own due diligence but refuse to allow access to the brokers to confirm that trading is really happening. How can anyone believe them without being allowed access to real proof ESPECIALLY when the main MTI crew have a proven track record of getting involved in ponzis and pyramid schemes?
 

Pharaoh

Colonel
Messages
20,046
Hey Pharao, here i am.
First of all i will NEVER hide for you my PC Hero...!!!!!! I was the one who reacted with my full name and foto. You instead hide behind profile foto and username. I dare you to meet me live in front of my nose. And then tell me the same things you PC Hero wrote about me...!!!

Okay, that said i will tell you guys my story! Because there is always a story behind a story.
Half a year ago i was fresh and new with MLM (Multi Level Marketing business) After a few times being scammed i tought first do my research before entering a next company. I realy tought MTI was legit.
I posted what you all have seen and left this forum because i have live contact with FX Choice over the email and never look back at this forum. So what you all said about me i didn't hear, otherwise i had responded directly. I was in MTI for a fwe months and got a stange feeling in my stomach. Something was telling me that it was not that legit as i tought. I was in with 4.7 Btc (believe me, if i thouht it was a scam i would never had put in 50k at that time. And if you want a screenshot for prove, no problem) and pulled out all my Money.
The same day i called and emailed all 25 people i put in MTI that there is a panic and all the people are out MTI for 3 weeks now. So my team is safe.

Ludo!

How nice of you to finally drag your posterior back to the thread. Before you waste any more oxygen demanding my ID, MTI's operation is rather small compared to some of the other frauds I've gone after. Most of those sites are long gone, but many of the culprits avoided prison. Unless you are offering to provide funds to let me hire a personal security team, I'll keep my identity to myself while still pointing out obvious scams and calling out those who should know better than to support those scams.

Before you get too comfy about how nothing legal can happen to you, re-read who is named in that action in Texas. Oh look - affiliates who were introducing people to MTI. And, at the Federal level, actions have been taken against IBs and other affiliates to international scams. Who knows, the Netherlands may decide that punishing those who fed innocent investors to the wolves is a good way to slow down future scams.

Awfully nice of you to warn your downline 3 weeks ago. I guess the email the FPA sent you and the PM I sent (which should have generated an email) plus the simple ethics of withdrawing a claim like:

I am in MTI for half a year with serious money. And it is working fine every day. I can provide you all screenshots of eveidence, also of withdrawal.

weren't enough to bring you back sooner. Do you feel the faintest trace of resposibility for someone who might have believed that claim before you came back, or would such a victim not matter to you since they weren't in your downline providing you with commissions?

I also fail to see the apology you (as the ONLY person to not only try to post an MTI affiliate like, but also another affiliate link to a second business opportunity in this thread) owe to me and the others who questioned MTI before you made that flagrantly false accusation.

People, all the people who are screaming SCAM are the ones who want to sell you an other buisness.

I still don't see your evidence of me or anyone else in this thread pushing some other questionable business like you did.

I must admit I'm surprised you came back. I've been in other threads that had a dozen or more people acting just like you - defending a company primarily by attacking those who asked questions and pointed out flaws. In each of those cases, when things went bad, those people all quickly disappeared and not one of them ever even admitted the possibility that the magic money train was fake. You get a small amount of credit for that, but still are in the hole for pushing the scheme, making false allegations against all who questioned it, and for being so terribly slow in admitting something wasn't right about MTI.
 

Pharaoh

Colonel
Messages
20,046
So anyone can join the Forex Army claiming that they are who they say they are, using a brokers logo and telling they have an official announcement? Without any identity check? If that was the way my palace was run I would get a divorce!

Do you think the Admin isn't watching this thread? He's the one who tipped me off that the broker's confirmed representative made a post. Plus, if you really run a palace, you would know how to fact check for yourself, like thePridge did:

Your distrust is 100% valid and understandable.

You can go to the FX Choice site and click their "live chat", chat to an agent and give him/her the link to the statement and ask them if it is real... I did and they confirmed that the statement is 100% factual.

A person esteemed enough to have a palace could also have politely asked for confirmation that the person posting on behalf of FXChoice was truly a representative of the company instead of attacking the broker's representative and the FPA. I'll admit that some of my later posts in this thread are much sterner than my usual cordial communications, but you picked a very aggressive way to join the conversation.

If you were in my palace, I wouldn't divorce you, but I would give you a lengthy set of lessons about how and when to shift from gentle to firm to aggressive. Then I'd make you rewrite your post 50 different ways for each category to make sure you fully understood how these things are done.

P.S. If you want to go straight to executing Ludo, I'll understand. :D
 

Jolom

Recruit
Messages
7
So anyone can join the Forex Army claiming that they are who they say they are, using a brokers logo and telling they have an official announcement? Without any identity check? If that was the way my palace was run I would get a divorce!

FPA Forums Team Note: Look at George A.'s user title, right underneath his name. It says "FxChoice Representative". Users cannot set their own titles. Only users with verified addresses at a reviewed company get listed that way. If you want to prove this to yourself, try to reset your own user title to match his.
Hi Cherrie
 

Pharaoh

Colonel
Messages
20,046
FX Choice representative I have some questions about your company first. I wanted to see if it was customary to divulge information about a client’s past records and current activities. This seems to be a bit inappropriate to release this kind of information without the expressed consent of the client or a clear breach of contract negating the contract between the two parties. I certainly hope you wouldn’t do this for me if I were a client. Maybe this is why MTI hasn’t used FX Choice for over a month

Hello Mr. President. ;)

The text makes it plain that MTI was not supposed to be pooling money. MTI was also making false claims about it's relationship with FXChoice. Add in the Ponzi-style behavior of MTI, and revealing MTI's lies was clearly the correct choice. If MTI doesn't like it, they can take it up with FXChoice's legal team and regulator.

While MTI doesn’t deny that they have strong MLM elements, the text states that you blocked them because of this fact and because they aggressively market. I don’t know of a single financial company that doesn’t take aggressive stance to getting new business. I have reviewed the letter from the Texas Securities commission and believe that MTI is currently addressing this regulatory issue. I also believe there is significant “old money” involved in the decision making process and push prevent business for newer crypto currency companied from taking new customers away from other traditional securities organizations.

Aggressive marketing is one thing. Telling lies about trading with a broker would leave angry clients attacking the broker when the Ponzi scheme collapses.

"Old money" protecting their interests against cryptos. That's a laugh. There are plenty of bigger and older crypto sites with clients in Texas. Why hasn't Texas moved against all of those?

You really need to realize that no president can be an expert on everything. What a good president can do is to have teams of respected experts and to listen to the wisdom of those experts instead of making off the cuff remarks that fly in the face of facts.

And, queue the attack on the source of the data in a vain attempt to cast doubt on facts:

According to forexbrokers.com “FX Choice is considered high-risk, with an overall Trust Score of 54 out of 99. FX Choice is not publicly traded and does not operate a bank.” There for they are considered a “high risk broker” with a trust score of 54 of 99. I’ll continue my research into MTI but I’m guessing that there is bad blood between the two companies for some reason and this is why FX Choice chose to come out and release such a strong statement.

Regarding aggressive marketing tactics; as stated by FX choice representative. There is a $250 commission for bringing each new client and a %15 bonus to deposited money. So I personally would consider this to be aggressive. From what I can tell this a case of the pot calling the kettle black.

The lameness of the innuendoes designed to cover MTI's actions keeps increasing. Only a small number of retail forex brokers are publicly traded and/or are banks. Guess what? MTI is not publicly traded, is not a bank, and doesn't appear to be regulated anywhere. What Trust Score should they get?

If the pot and kettle match, then justice isn't exonerating one. Justice is prosecuting both. If you or MTI have any evidence of FXChoice abusing any of the same rules MTI is accused of by the Texas State Securities Board, report them.

If FX Choice is such a bad broker, then you personally need to actively condemn MTI for selecting them (in addition to telling lies about how badly MTI's trading was going). I think if you check MTI's offers for recruiting money from investors, you'll probably find it was far more generous than what FXChoice pays IBs. I've also seen plenty of forex, crypto, and binary brokers that offer more.

Maybe in another hundred years or so, I might finally break my policy of never recommending a broker and will start looking for one that will pay me a reasonable commission. What I'll never do is get involved financially with any company that screams PONZI as loudly as MTI does.
 

George A.

FxChoice Representative
Messages
20
We’d like to thank Pharaoh for his continuing persistence in holding unscrupulous financial entities to account. It must feel like lonely work, sometimes. We doff our caps to you, Pharaoh.

It seems that our statement has risen the temperature in the dialogue surrounding MTI. Tempers are also fraying. We understand why people are becoming angry with MTI.

Ludo, we can see that Pharaoh has already replied to you and expressed his stance. He has serious reasons to be furious. It hurts to see bad things happening over and over again. Gullible people, and possibly greedy people, believe in miracles; others prey on these people to line their own pockets.

Despite an aggressive tone, Pharaoh actually helped get the message out about MTI and consequently prompting some of their clients to withdraw their money before it’s too late.
 
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