₦airaland Forum

redcross:
What is the best business a Returnee from Abroad can invest in Nigeria??


A very good cash flowing Business.($50k available)

Thank you.

Visit the link below to educate yourself before falling a victim to any scam/ponzi scheme

https://www.nairaland.com/5486596/ponzi-scam-fraud-schemes-fronting

corike:
Has anyone has a dealing with MBA forex before I hop in I will like to hear from you guys thanks in anticipation.

Any legitimate forex company should be trading the forex market using a government licensed, regulated, periodically monitored and audited forex broker, and such forex company should be able to show proof about this.

Any legitimate forex company should name and put the name of the government and government regulatory body regulating its preferred broker, used in offering its investment service on its website, with a link to the government regulatory body website or a direction to where the investors can verify about the broker's government licensed and regulatory status, and the investors should also verify that the website is actually the government regulatory body's website, as a scam investment company can go as far as building their own fake government regulatory body's websites, list other brokers to deceive and directs its potential investors there.

Any legitimate forex company should provide an independent/third party audited and verified trading performance track record from websites such as www.fxblue.com, www.myfxbook.com and www.fxstat.com to its investors by placing the verified track records on its website, and the investors must do their due diligence to verify the broker in the track records as a recognized broker.

Note that a trader or an investment company can partner with a broker that will doctor, through their trading server and provide to the trader/investment company a trading performance track record, which they will use to operate their scam schemes. You will see monthly trading performance track record, not knowing that it is doctored through the broker's trading server in favour of the scam investment company, without the actual trading taking place in the real market environment. If the broker used by the forex investment company is not a popular broker, and you can get in touch with the trader/investment company, request that they provide another of their independent/third party trading performance track record from another known/popular broker for you to compare the trading performance track record of both.

You can suggest and get the forex investment company to use your preferred popular broker to run a demo account, if not a live account, using their trading strategy, going forward as long as you feel comfortable, so as to compare the trading performance with their main portfolio trading performance track record, to prove that their trading performance track record is not doctored by the broker, even if it is from an independent/third party website, before investing with them.

A legitimate forex investment company that does not want to exposed the investors to being scammed should allow the investors to open their personal brokerage account and give them the log in details for them to manage the account for the suppose investors. This approach is always very complex to the forex fund managers/investment company in a situation where they are to manage multiple investors account at the same time.

In a situation where the investment company is to manage multiple investors account, which is a certainty, the preferred means of fund management is through a PAMM , LAMM and MAM system of fund management. This puts the deposit/withdrawal control, 100% in the hands of the investors, so that even if the investment company wants to close shop and run away, they can't run away with a dime of investors funds, same with the investors personal brokerage account being traded by the fund manager/investment company.

With all of the above, you should be able to differentiate between a legitimate forex investment company and scam/ponzi scheme.

All these scam/ponzi schemes are actually using the name forex to run their scams. They are using new investors funds to pay old investors in the scheme. Those payouts are not from actual trading. That they are running the schemes without running away yet, does not mean that they are legit.

Any scam/ponzi scheme always launches with a target amount of money they will run away with. The time to shutdown depends on the inflow of funds from investors into the scheme compare to the outflow of funds to payout investors.

The promoters of the scheme might meet their target amount to shutdown and run away with, but choose to increase their target amount to run away with, as they discover that more funds are still coming in, and being rolled over into the scam scheme compared to the payouts to investors.

It will definitely earn in tears, both to the new investors and those rolling over into the scheme, when a decision is made for the scheme to shutdown by the operators. We just pity the marketers of the schemes as they will be roasted by the gullible investors.