SilentSpectator
Sergeant
- Messages
- 141
Not good indeed. :\
Ponzi Scheme TadawulME / Exential Group:
- Thread starter samsam9000
- Start date
Guaranteed profits become guaranteed losses.
Not good indeed. :\
Hi. Did you complain? What did they reply?
Yes,I have called them a couple of times and all I get is bank restriction stories.
Marcelo Rosa
Master Sergeant
- Messages
- 265
Guys, these are the last updates about exential that I got from my friends.
I hope this can calm you down.
Dear Valued Clients,
Greetings of the day!
At the onset, let me start by appreciating the current mood of anxiety with some of our clients due to delays in payment and thanking the majority of our clients for their patience and trust through these challenging times.
This communication is to give you an honest update on the payment status where I am confident that our relentless efforts will start to show much desired improvements in a short to midterm period.
Withdrawal Month January 16th 2016 February 16th 2016 March 15th 2016
Payment Timeline
Start by March 15th 2016 April 15th 2016 May 16th 2016
End by April 15th 2016 May 15th 2016 June 15th 2016
I would like to reiterate that your patience is our biggest support during this period of streamlining banking operations. In the same spirit, I request for your understanding that no account ‘opening’ and ‘closures’ will be approved this week until 12th March’2016 (Saturday) due to an update of the trading strategy and system upgrade.
· We will reach out proactively to clients where payment delays are beyond the prescribed timelines (solely caused by uncontrollable factors at the banking end of the value chain).
· We are confident of our business model with consistent value generation for our clients, and our core values continue to be ‘Trust’, ‘Honesty’ and ‘Integrity’.
Moving forward we will send out a fortnightly communication on ‘Payment status’ to keep you adequately updated.
Thanks & Best Regards,
Sydney A Lemos
Director - Exential Group
Now, have your ever lost money with exential? The answer is no
Did they ever promise you 10% capital gain monthly? The answer is no
Are they regulated? Yes, Can you visit and talk to them? Yes.
Do you now have a time frame? Yes.
Guys I know it's not the ideal situation, people have loan to pay (first of all, you should never invest money you can't afford to lose), family to support and so on, but I'll give now few examples of people that closed their accounts and opened in another managed companies:
My friend closed her account with exential and opened at Smartforexfunds: result, lost $8K out of $40K.
Then she closed that account and put in another one called Alfafinancials: Result: already lost $4K and the broker is hedging her trading account and she is not allowed to close her account (this was not mentioned on the contract), result: With almost 100% guarantee, I think she will lose here entire $20K account.
Another one: The famous Sterling: I personally met people who lost +$20K on that scam, I even told to closed with -$10K loss, he didn't listen to me, HOPING it will recovery, but it never happened.
Another one: MMA FOREX: I met a guy who lost AED 450 THOUSAND DIRHAMS or approximately $123K with the ponzi scheme in Dubai, he didn't even tell his wife, it was all his lifetime saving + half from a loan that he took, you can imagine how ashamed he was, he was that close to commit suicide.
Now people are putting their money on UT Markets, this will be the next big scam over here, now everyone is happy about it, everyone is making a chunky of money, even people without capital on their account are making money (yes you read correctly, they started trading accounts before the account has been funded)
So put your seat belt, relax, be patient, because exential will pay you, as always did. Stop freaking out, if you have a large amount of loan to repay your house, mortgage or whatever it is, you're a responsible for your acts, you took the risk, maybe you're too greedy, maybe not, but all this act against the company will create even more confusion and it will lead you to commit the same mistakes of people I mentioned above.
I hope this can calm you down.
Dear Valued Clients,
Greetings of the day!
At the onset, let me start by appreciating the current mood of anxiety with some of our clients due to delays in payment and thanking the majority of our clients for their patience and trust through these challenging times.
This communication is to give you an honest update on the payment status where I am confident that our relentless efforts will start to show much desired improvements in a short to midterm period.
Withdrawal Month January 16th 2016 February 16th 2016 March 15th 2016
Payment Timeline
Start by March 15th 2016 April 15th 2016 May 16th 2016
End by April 15th 2016 May 15th 2016 June 15th 2016
I would like to reiterate that your patience is our biggest support during this period of streamlining banking operations. In the same spirit, I request for your understanding that no account ‘opening’ and ‘closures’ will be approved this week until 12th March’2016 (Saturday) due to an update of the trading strategy and system upgrade.
· We will reach out proactively to clients where payment delays are beyond the prescribed timelines (solely caused by uncontrollable factors at the banking end of the value chain).
· We are confident of our business model with consistent value generation for our clients, and our core values continue to be ‘Trust’, ‘Honesty’ and ‘Integrity’.
Moving forward we will send out a fortnightly communication on ‘Payment status’ to keep you adequately updated.
Thanks & Best Regards,
Sydney A Lemos
Director - Exential Group
Now, have your ever lost money with exential? The answer is no
Did they ever promise you 10% capital gain monthly? The answer is no
Are they regulated? Yes, Can you visit and talk to them? Yes.
Do you now have a time frame? Yes.
Guys I know it's not the ideal situation, people have loan to pay (first of all, you should never invest money you can't afford to lose), family to support and so on, but I'll give now few examples of people that closed their accounts and opened in another managed companies:
My friend closed her account with exential and opened at Smartforexfunds: result, lost $8K out of $40K.
Then she closed that account and put in another one called Alfafinancials: Result: already lost $4K and the broker is hedging her trading account and she is not allowed to close her account (this was not mentioned on the contract), result: With almost 100% guarantee, I think she will lose here entire $20K account.
Another one: The famous Sterling: I personally met people who lost +$20K on that scam, I even told to closed with -$10K loss, he didn't listen to me, HOPING it will recovery, but it never happened.
Another one: MMA FOREX: I met a guy who lost AED 450 THOUSAND DIRHAMS or approximately $123K with the ponzi scheme in Dubai, he didn't even tell his wife, it was all his lifetime saving + half from a loan that he took, you can imagine how ashamed he was, he was that close to commit suicide.
Now people are putting their money on UT Markets, this will be the next big scam over here, now everyone is happy about it, everyone is making a chunky of money, even people without capital on their account are making money (yes you read correctly, they started trading accounts before the account has been funded)
So put your seat belt, relax, be patient, because exential will pay you, as always did. Stop freaking out, if you have a large amount of loan to repay your house, mortgage or whatever it is, you're a responsible for your acts, you took the risk, maybe you're too greedy, maybe not, but all this act against the company will create even more confusion and it will lead you to commit the same mistakes of people I mentioned above.
Marcelo Rosa
Master Sergeant
- Messages
- 265
Let me rearrange the payment time:
Withdrawal Month January 16th 2016 will be from March 15th 2016 - April 15th 2016
From February 16th 2016 will be from April 16th 2016 - May 15th 2016
and from March 16th 2016 will be from May 16th - June 15
End by April 15th 2016 May 15th 2016 June 15th 2016
Withdrawal Month January 16th 2016 will be from March 15th 2016 - April 15th 2016
From February 16th 2016 will be from April 16th 2016 - May 15th 2016
and from March 16th 2016 will be from May 16th - June 15
End by April 15th 2016 May 15th 2016 June 15th 2016
Hi.....could you clarify if the below is true
KecyInvestor March 13, 2016 - jltrader.com/2015/04/07/exential-group-managed-forex-accounts-scam/#comment-962
Woe unto us!…,A friend of mine said he went to check his capital and was told that the contracts have been amended and he would not receive all his capital since he had already recovered it through the monthly profit…Asim,could you please confirm with the company if this is true? Not that I do not believe my friend but you seem very positive about the company.(this would help calm us down…guys if you are on their Facebook page could you please check to see if this has been posted.was blocked from the page.
Second if they amend the contract does it affect those who closed accounts in January?anyone who knows a good lawyer????!!!!!.
SilentSpectator
Sergeant
- Messages
- 141
You may have missed something in the examples you provided above. Similar to UT Markets paying out profit to an unfunded account, Exential has been paying out profits that don't correspond to their MyFXbook fund performance. There was even an instance when the fund reflected losses, yet they still paid the usual profit rate. Read several pages up and review Pharaoh's take on this.
Regarding your questions, I have some comments:
Now, have your ever lost money with exential? The answer is no - The only way you can truly be sure that you haven't lost your money is when you have it on-hand. Otherwise, your only proof that your money's still there, is a myfxbook account that everyone else hopes reflects their personal funds. Other than that, you have a contract that guarantees that you'd get your capital back within 3 weeks. Sadly, this is not being observed.
Did they ever promise you 10% capital gain monthly? The answer is no - The problem here is their capital gains do not reflect the actual fund gains. The past year and a half sees a fund gain which is a lot less than what they're paying out to people. Are they taking money out of their pockets to pay everyone out?
Are they regulated? Yes, Can you visit and talk to them? Yes.- They also claim to be audited. Would really love see those audited financials.
Do you now have a time frame? Yes. - Sadly their time frame is a violation of the agreement in the contract. If a company doesn't honor a stipulation in the contract, what is the the purpose of the contract then?
Great that you mentioned MMA. Lets play yes or no game
Did MMA first encountered problems paying out on its 5th - 6th year? Yes.
Did MMA increased its communication the moment it encountered problems? Yes. (we were receiving sms directly from the CEO, or at least thats what the sms said).
Did MMA encountered losses (or any of its investors) before it they were declared as a scam? No.
Does MMA's top management owned a ferrari or sponsored a sports team? Yes. (I've read in another forum that Lemos owned a ferrari and EG sponsored FC Goa).
Did MMA used banking issues as an excuse when they were delayed with the pay outs? Yes.
Did MMA guaranteed a fixed return? No. But they always flaunt their historical record of giving out 8-11% monthly.
Is MMA regulated? Yes (However, I would only consider this as "registered", rather than "regulated".)
Can you visit MMA? Yes. They will even give you a tour around their office. They dont have a "restricted office" unlike EG's mysterious "trading room" in 7th floor.
These are just some of the similarities of MMA and EG. Going back to the regulation, I wouldnt call EG as (highly) regulated. Yes it is registered and maybe regulated to some extent. But its registration is a bit questionable. Again, as I always point out, why would an investment company like EG register in Media Freezone? I maybe wrong but Media Freezone's requirement from EG would most likely be limited only to have permanent office in media city, payment of registration fees, and submission of financial accounts (which may or may not be audited by well known audit companies). If its registered with DIFC, where I think it should be, then at least we have some form of an assurance that it is indeed regulated. I'm not promoting DIFC, but at least DIFC has various quarterly reporting requirements and list of regulated or recognized auditors.
