There is no information on the FX United website indicating who owns or runs the business. A UK address is provided for Begum, which once again is used by a number of businesses. A residential address in Queensland, Australia is provided for Lustre. Her name appears as the listed owner of the FX United website domain, which was first registered on October 15th, The domain registration was last updated on August 12th, , which is likely when Begum obtained it.
FX United has no retailable products or services, with affiliates only able to market FX United affiliate membership itself. Referral commissions are paid out on ROIs paid out to recruited affiliates, via a unilevel compensation structure. A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them level If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
FX United cap payable unilevel levels at five, with commissions paid out as a percentage of the ROI affiliates on these levels receive:. Ditto why somebody in Queensland, Australia, is listed as a Director.
To me that just screams something dodgy is going on, either on the trading side of things or potentially money laundering. The deposit bonus sticks out as pretty suss, with FX United seemingly creating money out of nothing.
The sum total of all of this is an opportunity that comes off as pretty suss. Feb 25th, at Feb 26th, at 9: There are many more details that I will b sharing in my next post. Mr blog owner, you can email me and I can forward u all the evidence. Feb 27th, at 3: Hey Shah, why is this a scam?
Do you know someone who has lost money? Feb 27th, at 5: In general, forex investment needs to be licensed… by the country it is soliciting in. Feb 27th, at 7: Mar 6th, at 1: Hi Pualene, this company called FX United does not exist and it only exist as an online domain name. The scam is directed to Malaysians and run by local scammers in collaboration with United Global Holdings Ltd New Zealand and this clearly show that there are no relationship between this 2 entities.
I was invited for the dinner and just smelled something fishy is going on and started doing my research. In Malaysia this is definitely against the law. The best part of it is, there are 83 companies registered at the same adress. One more thing that you need to really know is that it is only active in Malaysia and run by local scammers who are well known in the MLM industry and are also serial scammers. They claim that due to its origin and registration on overseas, they do not need the central banks license and they are hoodwinking innocent people.
Another important matter is that they are using MT4 platform which is created specially for FX United and known as FX United Client Terminal, as such the whole operation of the client and administration are controlled by the fraudsters.
I came across a company operating this scam by the name FX United Power team and found out that it is operated by someone by the name Pandeyan Maruthamuthu under a company called FX United Power Sdn Bhd, a check with registrar of company shows that this company does not exist.
Upon further probing, this company has close to 10 bank accounts taking deposits from the investors. So Paulene, please beware because Bank Negara Malaysia is already investigating this company and very soon the whole Mega Ponzi and Scam going to be exposed. Lastly, a formal complain was lodged with Scamwatch Australia with regards to this scam and a report has been made to High Commission of India with regards to these scam and the name and passport numbrs of these scamsters.
So nye for now, in my next post i will give more information about how this whole scam started and who are the people behind it and how an online Hawala system was created to bypass and cheat the banks and how it is now misused to cheat the general public. So Malaysians please stop being ignorant and stupid and do a little bit of research and please stop being greefy and gullible. Paulene do know in this kind of Mega and well articulated scheme the losses does not happen sporadically but more like a Tsunami whereby the whole bunch of ignorant and greedy lot going to get screwed all at once.
Mar 7th, at How does one verify the company is a genuine brokerage firm? These are legitimate trades I hope as we are trading equities. However back to the same basic question — hoe to differentiate between a genuine firm form a fraudster like FXUnited. Why are you holding back from naming the scammers?
Is it because it could backfire and made you liable for defamation? I guess its will be difficult to prove until shit hits the fence. Mar 7th, at 2: A genuine one is licensed to operate in your country, at the minimum. Overseas means you are NOT under protection of your laws. You would be totally on your own. Mar 9th, at 1: I did invest in it and it has never failed to pay what it promised. It always top up the capital whenever its EA lose money — 6 times already — 6 times top up is so unlike a scam company.
Anyway, scam or not, I am not worried. I have got my money back in less than a year. Even my friends who went in were told the caveat: So no issue for us!
However, overall, we win because we know how to play the game! Mar 9th, at 7: Are you expecting this company to be around forever? So the wiser move is: Mar 27th, at 7: You may refer to forex broker review sites for more info. We are a group of scam busters based in U. S and we do not deal with anyone directly. For your information a formal complaint was lodged in New Zealand Financial Market Authority for conducting brokerage without a Derivative Issuer Licence.
We shall wait for their reply and see whats the next course of action. Mar 27th, at 8: Simple answer- verify whether they are regulated, if its not rhan stay away from them. Apr 11th, at Tell me, in a 3rd world country where income is ridiculously low, and money is the main needs to survive, how to make more money??
Apr 11th, at 6: May 2nd, at 2: As long as they are paying, if you want to get involved, just gamble what you are willing to gamble, say 10k. Many of us have lost more than that in the freaking stock market but yet everyone is still trading stocks like it is some big shit and like it makes you a man. Yet when companys like FX United comes up and have been paying their dues diligently, but yet everyone is still so sceptical.
Stop thinking too far and just jump in if you have the balls or stay out and dont even bother to investigate and create fear.
Your only gamble is untill you regain the ROI of the investment that you chose to put in. After that put that ROI away and let their money make more money for you till they get busted, close down, run away or whatever. Thats the small risk that you take till you get back your ROI.
If you cant even stomach losing that, then just stay out of the game. Everything that they say are also just in words. Where is the whole proof of wrong doing besides another post. May 2nd, at 3: May 2nd, at 7: They pump and dump and on to the next ponzi.
Its not a risk when its a planned attack on these scams. May 3rd, at 4: We had to scheme a plan to nab the scammers and came up with a plan to get this scumbags. As cunning and conniving as they are,they responded by using fake names and giving fake positive reviews. Due to this reason, we were unable to pinpoint the fraudsters and refer them to the authorities due to lack of contact details.
We just had to wait for the right time and Voila, a girl by name of Nora responded and she gave out her original identity, contact number and her work place address. This is a beautiful admission, thus we gathered all this admission and forwarded to the relevant authorities.
They are working on this case. As for SK, you have demonstrated a typical selfish, arrogant and prideful attitude which is common among MLM and Ponzi scheme perpetrators. You think you are cool to lose that RM10K, think about it again. This scam is a member get member scheme, as such many people are bound to be hurt when the whole scam close shop.
May 5th, at 2:More...