Ponzi Scheme TadawulME / Exential Group:

[Brownfox]

I visited them recently - was told 'confidentially' they have 6000 customers and 5 figure accounts. Since a lot of people have multiple accounts let's assume a conservative 20,000 accounts x $20k =$400m. I also read on their web they trade at a "low leverage" of 100, so that means they have about $40Billion trading power. You should therefore be seeing large fx trades going down since they only do allegedly 4-5 trades on average a day to make these returns.

Question I have: how do you guys see what they actually trade as mentioned in previous posts? I have $$$ ready to invest there but want to do a bit more due diligence due to the concerns expressed in this forum.

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.

 

[Pharaoh]

I wouldn't trust any "confidential" figures provided by a managed account company.

 

[Gigitrader]

Hi,

I read all the posts available here and after meeting them in Dubai this is my opinion:

Organisation and customer care could be better, but at the end of the day, if you invest you want money, for a 7 star hospitality you go to the Burj Al Arab Hotel.

My back ground as Forex trader tells me that 9% (that what they are averaging on), is not too good to be true, I personally know traders making way more than that every month. 9% divided by 20 trading days in month = 0.45%. If your business is to make money (like they are), you have an average working sistem and you apply it to the letter, like any other business you will make money.

My main concerns are: why they let a trade going so much in a big loss, like around 7000 USD at the beginning of the year. Answer was that the trade was manually entered, they learnt the lesson and they put the cash back in by their pocket. Sounds weird but anyway...
The other main concern is: why using a broker regulated by British Virgin Island and not a top notch broker based and regulated by Europe or USA? I'm waiting for an answer on that...

If it was a Ponzi, why should they pay every month the return? They could just promise you big return till the Ponzi collapse and run with the money.

Also, I think that people like Sara are just troll. If the company has the ability to pay the return to everybody (I have friends involved and they always got their money, like it seems happening to all other people posting here) every month, why they should not be able to to pay 20K back?

I strongly believe in the most important rule of this kind of investment: don't invest money you cannot afford to lose.

I get on board with them very soon and I'll keep you updated.

 

[sap]

So conclusion...
This is most probably a scam (Ponzip scheme) but people are still not losing money at the moment as the owners are still in it and have not gone bust as yet.
So if you'be got money to spare and want to take that risk then maybe consider investing (the risk being the company decides to keep it going for a little while longer).

Agree???

 

[HLFROMNL]

I totally disagree

Sorry, I totally disagree.
Yes, only invest money you can afford to loose.
No, this is not a scam/Ponzi scheme.
If it was, with the small growth they have, it would be gone already with all the monthly payments they do.

So conclusion...
This is most probably a scam (Ponzip scheme) but people are still not losing money at the moment as the owners are still in it and have not gone bust as yet.
So if you'be got money to spare and want to take that risk then maybe consider investing (the risk being the company decides to keep it going for a little while longer).

Agree???

 

[lara12]

Dear All
I am planning to open with them since last august but till today I am worried ,today I decided to open with them finally and they sent me the bank details to transfer money
the bank details weren't for FCI market its for exential group , in September when I was planning to open with them they gave me FCI market bank details which was make sense but now when they sent me the bank details for exential group I have a big question mark !!in forex money managers they control the money only not you will transfer the money for them ...what they are doing doesn't make sense at all and legally if we invest with them and they disappear you cant complain about any of them simply they are legally on the safe side and we are the fool (check the transfer purpose purchasing software not forex trading )
the account details are
Beneficiary: EXENTIAL MIDEAST COMMERCIAL BROKERS LLC

Beneficiary Account Number: 00131227750016

Special Instructions: Payment For Forex Software

IBAN#: AE120520000131227750016

Beneficiary Bank: NOOR ISLAMIC BANK
while in august they sent to me following details
AED to AED

FCI Markets INC

IBAN No:AE890110090030200012859

Account No: 90030200012859

Beneficiary Bank: Bank of Baroda Deira Branch Dubai

Amount: AED 75,850



USD to USD

FCI Markets INC

Account No: 90030200011711

IBAN: AE450110090030200011711

Swift Code: BARBAEADDEI

Beneficiary Bank: BANK OF BARODA DEIRA BRANCH DUBAI

Amount: USD 20,500

 

[HLFROMNL]

Hi Lara,
I do understand that mentioning "Payment For Forex Software" sounds weird for opening a managed account.
It looks like that many parties are involved.
I do agree that for what ever reason Exential collaps, you will not be able to claim the money you lost.
Recently I have opened my 3rd account.
Looking at the account number, about 8000 additionel/new accounts have been opened in about 6 months.
After completing the forms and transfering the money, you will receive access to a portal.
This portal:
- shows your account(s),
- shows the trades which have been done (they mach with myfxbook: Exential System by ExentialGroup | Myfxbook)
- allows you to withdraw money (takes 15 working days to proces)
- gives the possibility to enter support tickets
I am 99,99% sure this is not a scam. But trading with any forex broker is a risk.

 

[Pharaoh]

My back ground as Forex trader tells me that 9% (that what they are averaging on), is not too good to be true, I personally know traders making way more than that every month. 9% divided by 20 trading days in month = 0.45%. If your business is to make money (like they are), you have an average working sistem and you apply it to the letter, like any other business you will make money.

If it was a Ponzi, why should they pay every month the return? They could just promise you big return till the Ponzi collapse and run with the money.

No, this is not a scam/Ponzi scheme.
If it was, with the small growth they have, it would be gone already with all the monthly payments they do.

None of this shows it's not a Ponzi. A well-run Ponzi keeps paying to lure in more investments. At 9% per month, they could pay each person for 11 months with zero new investment coming in.

I have yet to see someone present a 2 year verified trading record from a well regulated forex brokerage showing 9% or more each and every month while taking little risk.

 

[fujima04]

I've opened 3 accounts with them in June 2014. I have been lurking here since August last year and have been thoroughly monitoring any updates regarding this so as to have a cue whether to pull my investments or not.

Yes, they regularly pays 9% per month and I will fully recover my entire investment this month. Ponzi or not, I do not know. All I know is I am glad I'll be getting back my full investment back in the next 2 weeks - then hope profits will follow in the succeeding months.

Investing monies do have risks. All up to you if you're going to take that risk or not. I was also worried few months back but took the risk convincing myself that all I read here were skepticism and second-hand info that someone lost their monies. I have yet to see an actual investor claiming a lost. Glad I trusted my instinct.

I am not promoting Exential nor encourage people to join, just want to show others that so far they are living up to their promises. Invest if you are bold enough, no if you are not.

 

[milo25]

why they r only trading with 50k where is the rest of the money