Ponzi Scheme TadawulME / Exential Group:

[crabber]

Hi All, this company is getting suspicious by the minute. The number they have provided for S&S Brokerage and FCI is incorrect. I've checked both websites and this number above is not on the website.

Secondly FCI and S&S seems to be under one company? given the numbers they have provided on both their websites are exactly the same.

Thirdly, FCI Markets seems to be a dummy website, I've attempted several times to set up a demo account but never got any response. I've tried several times to contact FCI via email but never received any response whatsoever. This is the same with S&S Brokerage. They never respond to any emails.

My opinion is that FCI Markets, S&S Brokerage and Exential are all under one management and this can allow them to manipulate the data.

As mentioned above by rsflint clients should be able to have a read only access on FCI Markets to see the transactions taking place.

My view is this is a very high level operation that provides a false interface that seems legitimate but when you dig deeper it's a scam. If it wasn't they would operate like any other legitimate IB and broker on Exential's part.

Additionally, having spoken to the relationship managers their knowledge is somewhat sketchy, also you can never get to speak to someone senior, you always get bounced around various RMs and they always regurgitate the same thing over and over.

If you are going to place your money on this guys I'd make sure you're quite ok with losing $20k at any given time. Cause in my view it's a ticking time kaboom awaiting more investors before they have a grand exit.

 

[ChrisA]

My Experience and knowledge about Extential

I have one account with them, and i have already received 2 months withdrawals without a problem. My friend has had his 3 accounts for 3 years and has tripled his money.

I just look at it as if i get a payout on the 13th month (profit after the initial 20k) then i am in profit, and if they leave the country and i cant get my money back, i still make 2000/3000 dollars, and after that its just pure profit...

The management are nice, and even though there are small things which i think they could improve such as their website (looks a bit cheap, wordpress), and customer service once you transfer the money ( i didnt get any confirmation ) - all has been very straight forward.

If this was an organised scam, they would promise ONLY 5% a month, or a figure much lower than they currently offer - this would stop the people saying "if its too good to be true, it probably is" - if it was a scam, the trades would always be perfectly fixed in a way where you dont question it - they wouldnt have techincal errors with their site which they do sometimes - and they always explanations for errors.

I havent ever heard of anyone losing their money - and i have looked very hard - if one person lost all their money - it would be all over the internet - but no one has posted anything bad, and with social media nowadays it would be out like a shot

everything in life is a risk - take the gamble, and as i said, after 13 months you are in profit. no matter what. But for me, its not a scam. The guys have a system, and it currently works.

Cheers!

Hi All, this company is getting suspicious by the minute. The number they have provided for S&S Brokerage and FCI is incorrect. I've checked both websites and this number above is not on the website.

Secondly FCI and S&S seems to be under one company? given the numbers they have provided on both their websites are exactly the same.

Thirdly, FCI Markets seems to be a dummy website, I've attempted several times to set up a demo account but never got any response. I've tried several times to contact FCI via email but never received any response whatsoever. This is the same with S&S Brokerage. They never respond to any emails.

My opinion is that FCI Markets, S&S Brokerage and Exential are all under one management and this can allow them to manipulate the data.

As mentioned above by rsflint clients should be able to have a read only access on FCI Markets to see the transactions taking place.

My view is this is a very high level operation that provides a false interface that seems legitimate but when you dig deeper it's a scam. If it wasn't they would operate like any other legitimate IB and broker on Exential's part.

Additionally, having spoken to the relationship managers their knowledge is somewhat sketchy, also you can never get to speak to someone senior, you always get bounced around various RMs and they always regurgitate the same thing over and over.

If you are going to place your money on this guys I'd make sure you're quite ok with losing $20k at any given time. Cause in my view it's a ticking time kaboom awaiting more investors before they have a grand exit.

 

[zyzy]

What happen to this thread? it just died...

nobody confirms anything all was just speculation....

have you guys find out if they are really a scam or not? i have just looked at their myfxbook right now and their drawdowns are huge... if there are investors here have you got any profits last month? so many huge losses on the previous month and by the looks of it will be the same this year....

Cheers...

 

[crabber]

yes it seems it has gone quiet. The drawdowns are definitely a concern and the fact that they are continually injecting cash to boost equity is a real concern. It seems the days are numbered for Exential. They're messing up quite a fair bit lately. Also FCI Markets don't seem to have any customer service whatsoever which begs the question what kind of broker are they.

My view is get out while you can the profits are tempting for clients but when they go deeper into the rabbit hole to a point they cant keep injecting cash then it'll be the clients who will end up hurt.

The fact that they're not transparent e.g. clients should have a view only account with FCI Market. I have a feeling it's a very well orchestrated scam from high up.

 

[LouieM]

Hi Everyone. I was about to go with these guys but now im gonna hold.it for a while and keep checking myfxbook. I would like to ask all if anyone knows another company / broker in Dubai or anywhere where this type of service is provided and actually reliable / verified? even of course if the profits are less than the promised 10%... ??? thank you so much

 

[binary-explorer]

Hi. Really enjoyed reading the posts from start to finish. Don't want to join in the fray, just wondering why she used "we", hehe...

Sara... I am sure you are getting confused with MMA and Exential. I'm sure we would've heard from Cabin Crew if they had lost money as we also work closely with them.

 

[Mrs Forex Dubai]

binary-explorer

sorry to make my we so unexciting... we is my husband and I We still have accounts with Exential and still get our happy money every month

 

[LuisH]

It's been one week without any trades. I have not received any notification as we did in december or january... does anybody know if Exential is still on, are they on holidays or what?

 

[HLFROMNL]

Hi All,
For whatever it is worth, I am 100% sure Exential is not a scam. I am now customer since October. My opinion is that Exential really has a good automated trading strategy which is performing very well.
It looks like in November something went wrong, which resulted in open trades with big (potential) losses. With an alternative trading strategy they have been able cover the losses. Since January they seem to be back to their normal trading strategy with about 4 trades per day. The hectical periode between November and January, it looks like they had to deposit 100K USD per account; so 5 times the value of the account. Since they seem to have about 40K accounts, they had to deposit about 40 Billion USD. If you don't believe in your own strategy, you don't do things like that. If you didn't earn a lot of money in the past, you are not able to deposit this amount of money.
Another reason why this is nog a scam accoring my opinion. If it would be a scam they had to grow much faster in number accounts to keep the scam alive. Otherwise they would never be able to pay the profit to their customers.
Since October the profit I got on my account is exactly the same as mentioned on their website. Withdrawals from my account never have been a problem.
If anyone is considering investing in Exential, it is up to you to decide to do it or not. Is it a high risk investment? Yes it is. The mentioned problems they had, could have gone wrong as well. They were lucky that at that time they didn't had any open positions in Swiss Franks. If so, I guess they probably would survived it.
The hectical period between Nov en Jan made me realise it is better to withdraw the profit, until I have back the invested money. After that period (about 10 months), I will first double the amount of accounts using the profit. The next years I will withdraw 50% and re-invest the other 50%. Based on that strategy my 40K USD investment will result in a value of roughly 800K USD in 5 years (50% withdrawals and 50% accounts).
And if Exential will be bankrupt in the near future (which I don't expect), the loss of money is limited.
By the way... The Exential strategy seems to be good. As an organization they could be more professional. Especially their communication should improve. Also they way how they automated their internal administration process is not on the level you would expect from a company making so much money.

 

[fxdxb]

I appreciate what you are trying to convey here but I think your math is a "bit" off. They don't have 40k accounts, more like 10k or closer to 8000.

For what it's worth, they've performed quite well for me for the last year and a half.

Hi All,
For whatever it is worth, I am 100% sure Exential is not a scam. I am now customer since October. My opinion is that Exential really has a good automated trading strategy which is performing very well.
It looks like in November something went wrong, which resulted in open trades with big (potential) losses. With an alternative trading strategy they have been able cover the losses. Since January they seem to be back to their normal trading strategy with about 4 trades per day. The hectical periode between November and January, it looks like they had to deposit 100K USD per account; so 5 times the value of the account. Since they seem to have about 40K accounts, they had to deposit about 40 Billion USD. If you don't believe in your own strategy, you don't do things like that. If you didn't earn a lot of money in the past, you are not able to deposit this amount of money.
Another reason why this is nog a scam accoring my opinion. If it would be a scam they had to grow much faster in number accounts to keep the scam alive. Otherwise they would never be able to pay the profit to their customers.
Since October the profit I got on my account is exactly the same as mentioned on their website. Withdrawals from my account never have been a problem.
If anyone is considering investing in Exential, it is up to you to decide to do it or not. Is it a high risk investment? Yes it is. The mentioned problems they had, could have gone wrong as well. They were lucky that at that time they didn't had any open positions in Swiss Franks. If so, I guess they probably would survived it.
The hectical period between Nov en Jan made me realise it is better to withdraw the profit, until I have back the invested money. After that period (about 10 months), I will first double the amount of accounts using the profit. The next years I will withdraw 50% and re-invest the other 50%. Based on that strategy my 40K USD investment will result in a value of roughly 800K USD in 5 years (50% withdrawals and 50% accounts).
And if Exential will be bankrupt in the near future (which I don't expect), the loss of money is limited.
By the way... The Exential strategy seems to be good. As an organization they could be more professional. Especially their communication should improve. Also they way how they automated their internal administration process is not on the level you would expect from a company making so much money.