Ponzi Scheme MFXBroker - New Era of Social Trading & Investments!

[Pharaoh]

Dear Pharaoh,

The financial reporting process is stretched out due to the new MFX representative offices opening in 2015 and the company expansion as well as the reserve fund creation and investment projects liquidity maintaining on level 39%, and currently the auditors report is being corrected. This is a natural process considering the rapid growth of the company. Your comments and pictures we do not consider seriously and do not comment.

We promise to inform you personally when the financial report is released to the internet.

Best regards,
MFX Broker team

Let me get this straight. MFX opened some new offices and hired some new people. This (and the effort to maintain liquidity) somehow kept the whole company so busy that not one person in the accounting department could arrange to conduct and finish an audit to show that a program with Ponzi-style promises was a legitimate investment for a whole year.

Even PFG Best and Bernie Madoff were able to take the extra time to do fake accounting to make the numbers look good, but you claim that MFX can't add up what you say are real numbers (which should be backed up by real paperwork and thus be far simpler) over the period of a whole year.

MFX has no time for necessary calculations, but plenty of time to advertise the latest twist to keep new money flowing into the Ponzi-like investment:

The modern market offers a variety of investment products - and from reputable banks and MFОs with a favorable interest rate. Why is it worth to take part in the program of profitable investment from the MFX Capital?

• High interest rate - 45% per annum.
• The reliability of your investment - for 3 years MFX Capital has established itself on the market as a responsible partner worthy of trust due to the stable reputation.
• Only a positive experience of cooperation with investors.
• 10 years of the experience in working on the financial markets.
• The official license for Asset Management.
• A fixed profit percentage.

Unsustainable high fixed rates and ZERO evidence to show how this financial miracle is achieved. These are the hallmarks of a Ponzi scheme. The only difference is that Charles Ponzi's original scheme was based on a functional form of arbitrage. It only turned into scam after he let too many investors in.

I'll be waiting to see what's next. An accounting statement which can be verified in any fashion or another excuse.

 

[MFXBroker]

Dear Pharaoh,
we appreciate your attention and sense of humor, and as we said before the statement will be provided as soon as it's finished.
Thank you for your understanding and patience.

 

[Pharaoh]

Dear MFX Broker,

I suggest you stop promoting a highly suspicious product while your crack team of auditors is finally taken out of hibernation and put to work.

 

[MFXBroker]

TRADE WITHOUT RISK: MFX WILL INSURE YOUR MONEY!


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Why trade in the financial markets is so popular? Because you can effectively increase the size of your capital with proper investment of funds in a short period of time. However, neither professional trader nor even an inexperienced newcomer are not immune from erroneous actions on the exchange. MFX Broker wants to correct this situation: we start the action "Trader's funds insurance."

Our offer will help you to trade without losses. This is your opportunity to use even large volumes without fear of testing new strategies, to make calm and measured decisions. This is your first step to regular and stable income! All you need to do is to fulfill all the action conditions, and in the case of an insured event you will be paid a compensation.

How to participate in the action:

• Register a personal cabinet, if you have not done it yet
• Pass the full user certification
• Deposit your account
• Press the "Insure funds" button in the action section of you personal cabinet

In the future you will be prompted to select an account you want to insure. You can see the detailed terms and conditions in the section of this promotion.

Can you protect yourself from losses while trading in the Forex market? Now we can give the answer - yes. Take part in the action "Trader's funds insurance" and you will realize that to trade without losses is real!

Best regards,
MFX team

 

[Pharaoh]

Too bad the insurance is a gimmick which will, at most, allow a client to achieve break-even on losses. For most, it will either prove useless or cost more than any recovered losses. Let's examine the critical elements of the terms.

4. To get a compensation:
- in the amount of 100% you should trade the volume in lots = "the insurance amount/10" after insurance starting
- in the amount of 50% you should trade the volume in lots = "the insurance amount/15" after insurance starting
- in the amount of 30% you should trade the volume in lots = "the insurance amount/20" after insurance starting

5. Spreads are increased by 1 point for all the Major and Crosses instruments, by 5 points for the Exotic instruments and by 10 for Metals.

I'll keep it simple. Let's trade EURUSD, a major pair. Let's assume I want to "insure" $1000.

If I want to insure my $1000 at 100% ($1000), I need to trade 1000/10 = 199 lots. I'm paying an extra $10/lot in spread, so I paid 100x$10=$1000 for my $1000 insurance policy.

If I want to insure my $1000 at 50% ($500), I need to trade 1000/15 = 66.67 lots. I'm paying an extra $10/lot in spread, so I paid 66.67x$10=$666.70 for my $500 insurance policy.

If I want to insure my $1000 at 30% ($300), I need to trade 1000/20 = 50 lots. I'm paying an extra $10/lot in spread, so I paid 50x$10=$500 for my $300 insurance policy.

Add in that there are other conditions, and that to keep the insurance active, I'd have to keep paying an extra $10 per lot on majors.


I've got an alternate offer I'd like to let all clients of MFX Broker as well as all other brokers know about. It's got far simpler terms and allows any amount to be insured. It's offered by Mattress Bank (Protecting valuable assets worldwide since 1929).

For every trade you close an open trade on your account, calculate what an extra pip of spread would have cost. Deposit the money (in cash) in Mattress Bank (the nearest branch is probably either in the next room or just up the stairs or down the hall). If your trades are winning, break even, or else only suffer moderate losses, don't worry, the balance in your insurance fund will keep climbing with each trade.

Unlike the plans offered by forex brokers:

You can claim the entire balance of your insurance fund at any time without having to discuss specific terms and conditions with an account manager.
If you miss a payment, your fund balance won't go up for that trade, but the plan won't be cancelled.
If your broker goes out of business, your insurance fund will still be there, instantly available.
WIthdrawals from your broker account will not affect your Mattress Bank insurance fund.
There's NO LIMIT to how large you can grow your Mattress Bank insurance fund.

 

[MFXBroker]

MFX CAPITAL PROLONGS THE 45% PER ANNUM PROMOTION UNTIL THE END OF SUMMER

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Due to the high interest of investors, the 45% per annum promotion will continue until 31 August. The continuation of this popular summer action would be a nice bonus for anyone who plans to reinvest his profits, or to join the ranks of successful MFX Capital investors.

mfxbroker.com/Content/img/quote_photos/kulagin.jpg
Denis Kulagin
head of MFX Group marketing department:
mfxbroker.com/Content/img/ico/quote.png
From year to year our investment program is increasingly recognized and gains confidence of investors. More than 1,500 new investors from Indonesia, Malaysia, Georgia, China, Russia, Ukraine and Kazakhstan joined us only for the last month. That means even more people from all over the world will be able to realize their cherished dreams: someone will buy for his family, someone will make a long-awaited trip, someone will expand business opportunities.
Are you ready to fulfill your dreams?
Take part in the action - all you need is:

• [mfxbroker.com/profile]Sign in the MFX personal cabinet.
• Open the "Invest" section in the cabinet.
• Choose " 12 months PROMO." in the form.

With financial independence you have a choice. Take this opportunity now - move in the right direction and discover а new life with MFX Capital!

Best regards,
MFX Capital team

 

[Pharaoh]

On May 13, 2015, MFX Broker promised an audit to show that their unsustainable fixed returns were a real financial miracle instead of a Ponzi. I gave them a happy anniversary message about their failure on May 13, 2016. They gave pitiful excuses of being too busy growing to bother with accounting, but said the auditors report was being worked on.

Here we are a month and a half later. Still no proof. I'd say that qualifies as something above a normal fail.

Prepare yourselves. I have some news.

Yes, that's right. They are far too busy expanding their business to count how much (if any) money is profit from investments vs. how much is inflow from new investors lured in by rates of returns that would make Bernie Madoff blush.

Remember, wild claims of large, fixed returns are the SUREST sign of a Ponzi scheme.

But wait. Some will point out that MFX Broker is a large, well-established company. There haven't been any complaints of non-payment yet. The truth is that a well-run Ponzi scheme can pay out for months or even years. All the "profits" gained by early investors are merely money STOLEN from later investors. You need to check to see if any investment plan is viable, especially one fitting the classic warning signs of a Ponzi.




Remember, MFX Broker may be a big company, but they also sing the praises of one of the worst criminals in the trading world, the convicted felon known as Wolf of Wall Street. Does this complete failure to understand business ethics of equating money taken fraudulently to profits make anyone feel confident in how MFX makes its claimed "profits" in its Ponzi-like investment?




People should limit their risks, but when they see wild rates of returns and see their friends making money, far too many of them take out loans. Ponzi schemes can ruin lives and businesses.





Ponzi schemes are easy to spot if you know the signs. If some company claims they've found a way to defy the laws of finance, demand solid proof, not vague statements and promises of future proof.

Learn more about how easy it is to avoid losing it all in a Ponzi here:

Ponzi Schemes and HYIPS - Free Money Traps.​

 

[MFXBroker]

Dear Pharaoh, thank you for your attention and for making this topic more vivid.
Your feedback is very important to us.

 

[Pharaoh]

Dear Pharaoh, thank you for your attention and for making this topic more vivid.
Your feedback is very important to us.

If you'll stop being sarcastic for a moment, you would realize that:

1. MFX's investment scheme shows all the signs of being a Ponzi scheme.
2. Every post you make which doesn't contain evidence to show the scheme is legitimate only makes it look more like a Ponzi scheme.
3. MFX's open endorsement of a convicted financial scammer makes people more likely to believe the company would lie, cheat, and steal to make profits for itself, not for investors.

So far, all of your actions and replies only reinforce the initial impression that MFX has turned down the wrong path.

 

[Polinky]

Please join the conversation with us.
https://www.forexpeacearmy.com/community/threads/withdrawal-problem-with-mfxbroker.46442/