Mirror Trading International Review : Is Mirror Trading International legit or a scam?

Mirror Trading International Review : Is Mirror Trading International legit or a scam?




Introduction.


As it is with standard practice and fairness, we shall take a very close look at some of the available facts that will enable us to conclude correctly on this matter that relates to the genuineness of Mirror Trading International or lack of it. What is more, MTI Club's use of a well-known cryptocurrency gambling service as a money laundering and cashout mechanism is certainly very interesting. This is more so because gambling platforms have become a common money laundering technique for cybercriminals who use cryptocurrency. MTI as a trading and networking company utilizes Bitcoin as its primary currency and also in the payment of bonuses to members through an automated system that takes the stress out of Forex trading by doing everything for you.


Registration with requisite regulatory authorities.


Although this company claims that it is registered, still, there is simply no way to ascertain the credibility or otherwise of this claim. Furthermore, the company itself does not say for sure which of the regulatory agencies is overseeing it as a financial institution, which is in itself suspicious. After all, there are cases where a company may be registered and its owner or owners identified, but it could still be unregulated, which can lead to customers being defrauded.


The leadership of the company


The CEO of the company, Mr. Johann Steynberg, a South African, is said to be known and is not in hiding. However, most of the company's traffic is said to have originated from South Africa, although Canada, Mexico, the United Kingdom, and the US also account for almost one-quarter of the remaining web traffic. Therefore, most of the victims of this company are derived from the countries listed. Commonly, MTI lures its victims by promising consistent daily returns of about 0.5 percent, which translates to a yearly gain of almost 500 percent, which the company claimed is guaranteed by its Al-powered foreign exchange software. Expectedly, before long, these bogus claims generated scam allegations, which the executives of the company initially denied. They claimed not to be operating an MLM scam after regulators from the US and South Africa pounced on them. However, much later after the Financial Sector Conduct Authority(FSCA) raided the houses of some of their executives, there came about reports that investors were unable to withdraw their money. At some stage and under intense pressure, the CEO of the company eventually took off, which led to the collapse of the company. All in all, most, if not all, algorithm trading platforms that promise incredible returns are almost always scams. As of now, the CEO of Mirror Trading International, Johann Steynberg remains at large, although his estate has been placed into final sequestration by an order of a South African High Court, the Polokwane High Court. In addition, the company was also liquated by an order of the Western Cape High Court, South Africa. This point alone has begun to give the whole issue an appearance that is all too familiar. Therefore, contrary to some bogus claims by some enthusiasts or paid actors, the founder has long gone into hiding. There are also other equally phony claims by these same actors that MTI does not promise ludicrous ROI payment and the business structure of the company also seems sustainable. In addition, they also claim that you do not earn from referral and binary bonuses only since trading pays out on daily basis. To lend credence to some of these claims, some customers even went as far as providing proof of payment.



Lack of proof of trade.


As yet, MTI has not provided any evidence that actual trading is going on in the company. An occurrence the CEO tried to refute by claiming that traders do not permit him to share that information and also that investors can always confirm the business by simply looking at the opening and closing rates in the report made public. However, this is another bogus claim at best. At least, it does not in any way prove that actual trading is going on. Furthermore, there have been similar schemes before that wielded these same phony claims but still ended up crashing out with the money put in by the investors gone down the drain. A notable example is Blue Key, an online cryptocurrency business.


Trading ROI is not guaranteed.


Although this contention has the ring of truth in it especially since traders themselves have bad days sometimes, but in reality, trading with MTI has no guarantee whatsoever and the non-daily payment may end up forcing the investors to rely on the income from recruitment alone as their major source of earning. Although this can lead to mass withdrawal from the company as a prelude to its final demise, which has happened to other company's before, such as bitclubnetwork.


The age of the company.


Companies that have created names for themselves are mostly those that have been around for quite a while, those with which people are familiar, those with a clean track record, although everything started from somewhere. MTI is relatively new, which makes it very difficult to find any tangible proof of its legitimacy on the internet. Although this assertion itself does not prove that it is a scam. All in all, you should tread carefully until such time when you are more sure.


How to spot a scam company.


There are certain indices one can use to satisfactorily spot a scam site from afar. First and foremost, be very wary of bogus claims of unrealistic returns on your investments, although some scammers may not put forward any such claims since it is now becoming the commonest tag for scammers in the cryptocurrency business. Secondly, one should take a very critical look at what it is the company is trading in. Where it is obvious that the company does not deal in any specific product or services, great care should be taken to avoid getting scammed. It is also common for scamming sites to present their founders or CEOs as a means of eliminating tension or suspicion. All the same, naming a founder or CEO does not mean much when it comes to financial fraud. After all, MTI made its founder known who was not proven to have run foul of the law anywhere in cryptocurrency fraud but look at how it turned out all the same. He has yet to be found, while investors are still left gnashing their teeth and ruminating over their losses. It is equally common practice for phone numbers and email addresses given by such scammers to be phony and where they are genuine, a strange restriction can be so placed such that, although they can reach you anytime, you cannot reach them. Some of these scamming sites may not even have a physically accessible address, not to mention the presentation of the fake certificate of operation or registration. Financial regulatory authorities are mandated to always keep tabs on all such businesses, but they can't monitor you if you are not registered by them, which makes them heavily suspicious. Therefore, you must adopt whatever is necessary to find out whether any such company is regulated by them or not, and where they are not, it's time to have a rethink altogether. There are a lot more red flags that can alert you to a potential scam, however, the ones mentioned here will still do the job perfectly.


Is MTI a scam or not?


Well, although there are claims and counterclaims on the matter with some people even going as far as posting or making public records of payments or withdrawals, still, there are enough that say the opposite. The article has discussed some of the commonest means or ways using which we can see scammers from far off, but unfortunately, on all counts, MTI has fallen short of the required conditions. Or what do you say, with a CEO that is in the wind and every effort to apprehend him have so far yielded no dividends. Consequently, it is very safe to posit that MTI is indeed a scam, and should you go into any business with the company, you will only have yourself to blame. After all, whatever sounds too good to be true, it probably is.


Conclusion.


Expectedly, wherever large volumes of money are involved, scammers and their nefarious activities are not far behind. This is especially so in the cryptocurrency business. The slightest unwariness may end up causing you to lose a lot of your hard-earned money. As a result, make enough research on any such cryptocurrency business thoroughly before you start anything. If Google does not know about them, then, probably nobody else does. Customer reviews are also very important in having a good insight into what kind of business you are about to go into. As long as you remain wary and stay focussed on any red flags, chances are pretty high that you will avoid or discourage fraud. Never allow greed to dull your caution. If you are swooned by the prospect of unimaginable profits, chances are pretty high that you may fall prey to scroungers and predators on the internet.



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