Ponzi Scheme TadawulME / Exential Group:

[mext60]

Finally, I tried finding some information about Exential, since the time I have opened an account with them (jointly with a friend) and have finally landed here today after 7 months.

I have always been skeptical of them, but took the risk from a bonus payment that I got from my company. The main driver was a lot of testimonials from colleagues who had accounts since last two years and were earning fine and within that range of 9-10%.

I think there is something really fishy about them, the way they operate is ambiguous at best. The monthly newsletter and the profit statement that they issue has not logo or names on it, same is the case with their website. The type of forms that they asked us to fill are also very fishy.

However, I want to ask experts on this forum, "who" and how many reliable brokers can we find in UAE for forex trading, who do these managed accounts thing. (the profit might be 1% per month only but something reliable.

 

[Pharaoh]

I've got an article for you on finding a good account manager:

https://www.forexpeacearmy.com/fore...ose-all-your-money-managed-forex-account.html

And another one that covers many of the warning signs of Ponzi schemes:

https://www.forexpeacearmy.com/fore...959-ponzi-schemes-hyips-free-money-traps.html

 

[milo25]

once again i don't understand how come they r only treading with so little amount and giving profits to who ever is withdrawing the money its only enough for one account.how r they generating revenue or do they have other accounts if that so than they should show us the results of those accounts aswell to be transparent.

 

[fujima04]

once again i don't understand how come they r only treading with so little amount and giving profits to who ever is withdrawing the money its only enough for one account.how r they generating revenue or do they have other accounts if that so than they should show us the results of those accounts aswell to be transparent.

I am not sure as well as to why, but if you notice Clause 3 of the Contract you've signed gives them the right and sole discretion on how to to trading. You should have raised those questions prior to signing the contract with them.

How they generate revenues - absolutely no idea. You invest, you gamble. I am no forex trader so no idea how things works but, as an investor, I know my investment is paying off.

 

[Pharaoh]

A contract barring transparency is a HUGE warning sign.

No one should ever invest in something where where there is no idea of how the alleged profits are made. All three of these had happy investors who didn't care how the money was made:

Secure Investment

CRE Capital

MyTIRN

I suggest carefully reading each thread very closely.

 

[Orancovi]

Hi guys, thanks to your forum I was about to be a victim of these crooks but after I read more on here I have learnt so much. Thanks a lot. Tadawul/exential group is absolutely a ponzi scheme after checking some of my friends' accounts and reading tadawul's contract, visiting their office, checking their web sites, you are so right, that its a scam.Once the money output is more then the input, their system will start collapsing. Considering the fact that in this year there are a lot of uncertainties are expected, if people start withdrawing their capitals, these puppets will be in real trouble. They need fresh souls to feed their dark spirits, once they cant find enough people to register they will pack up and dissappear.
My poor crew friends please stay away from these crooks , save your every single hard earned pennies.

 

[fujima04]

Been working on contracts for almost two decades and haven't seen one with absolute transparency. Contracts always involves risks on both parties. Even in investments, sure hit investment simply does not exists.

Investors simply do not care what they do or how they do it. You invest, you take that risk. Until such time one actual investor steps forward and says he lost his invested money, we cannot make a conclusion. I reiterate not a single one person in this 12-page thread has come forward yet.

 

[milo25]

To put all the rumours and uncertainty at end once and for all and to sleep better at night recently i stumbled upon one of my colleague who invested heavily in MMA forex which collapsed a couple of years ago (news was all over gulf news which i verified) and owner is still in custody for pending verdict the lawyer whom he contacted to pursue the case same lawyer can help us to verify the licenses and permits for xential group as well they do all the legal translations in arabic for correspondence with the relevant departments ,check the legality of contract as there r different laws governing different kind of trading ,and follow up on letters on behalf of clients if anyone is interested do let me know as we can check the following and share the expense to minimize the cost.

 

[milo25]

just to add on to above post they do help in making all the audited reports for past years / months public to investors to verify/understand the results and make decisions for future investments.

 

[Pharaoh]

just to add on to above post they do help in making all the audited reports for past years / months public to investors to verify/understand the results and make decisions for future investments.

Audited by which major auditing firm?

Can you provide a direct link? I just tried visiting tadawulme.com and got a malware warning.

Been working on contracts for almost two decades and haven't seen one with absolute transparency. Contracts always involves risks on both parties. Even in investments, sure hit investment simply does not exists.

Investors simply do not care what they do or how they do it. You invest, you take that risk. Until such time one actual investor steps forward and says he lost his invested money, we cannot make a conclusion. I reiterate not a single one person in this 12-page thread has come forward yet.

You must not have been working in with managed investments. Want to see absolute transparency for managed accounts? How about everything from the initial deposit to the most recently closed trades, plus the floating P/L?

Forex Managed Account Performance on Live Forex Account.

While you are there, count the active tests. Then ask it to show you the stopped tests and see how many there are.

This is the reality of a managed forex investment. Every one of those said they could make profits. Many of them claimed to limit drawdowns. Only a handful are still running in profit. If you can't examine trading records, you have no way to evaluate how much profit it really made and what sorts of risks are taken.

Of course, if we look at managed fx sites which don't offer transparency, they can just keep claiming profitable month after profitable month.

In my opinion, anyone who says to leap into an investment blindly either desperately needs to learn more about investing or else is a shill for the company being discussed.