How many of you have invested in FX United?

Max per account is USD10,500 (RM46,200). You are paid 11% interest per month on the USD10K portion while the USD500 is for you to trade.

http://www.fxunited.com/

http://www.fxunitedpowerinternational.com/

I think is a scam as 11% per month is a bit too high.

Yes its not legal for sure but like all 'illegal' investment schemes, the ones coming in late or topping up their investments later are the ones usually burnt.

But I must say this is one of the most systematic and well planned 'scam'. Its more transparent than most others. Even the way your accounts are set up is quite professional.

Ive spoken to Bank Negara and even they said its gonna take time for them to investigate FX United cuz its well set up.

I've also emailed the authorities in New Zealand and their parent company United Global checks out. All registration and trading licences are in place.

Hey dude, you so active around. Have you invested in any diversities yet?


Someone introduced me FX United lately as well. By right, is it considered legal outside of Malaysia?

Of course. Amanah saham fixed price for me. Good or bad time, consistent return of 6% p.a without any risk to principal (will always remain the same)

Amanah Saham? EPF also can give 6.4% p.a le, which are you investing at on particular?

I've got investments in ASB which is my 'safe' investment. About 7.5% returns per annum.

I only know that its legal in New Zealand.

Their operating licence in NZ clearly states they are authorised to trade on behalf of other persons.

http://fxunited.com/cgat.php

Not consistent 6% and not working yet.

I thought you say yours is consistent? I don't mind mistakes in between. I'm not the other people in this forum. Neutrality is my motto.

So, it's ok. I believed PM's SmallCap fund is higher despite the higher sales charge. I'm concerned. We have good funds.

Amanah saham give consistent returns of >6% p.a. EPF not so consistent. PM fund after counting 5% service charge beat amanah saham or not? If don't beat, and not consistent year (must beat amanah saham every year), not interested.

Besides if choosing small cap, better I buy Eastspring small caps. Better consistent return. FSM SC only 2%. I will still get higher than amanah saham despite not so safe as amanah saham. But it's OT.

You cannot compare Amanah Saham funds with other funds since the risk profile is different. Most of Amanah Saham funds are fixed price funds so there is no risk of volatility of pricing.

Of course you can compare. Funds should use amanah saham as the benchmark. If you cannot beat something offered by the government, then your fund is not good (talking about returns here which already include service charge not the risk).

The key word here is not about the returns itself but rather the risk and volatility of the fund. If u check FSM most of their moderate risk funds have performed above the Amanah Saham funds when calculated over the say the past 5 years.

Amanah Saham's returns are average but consistent and its a part of my portfolio because of this.

Anyway it's offtopic

too good to be true, no?

Nope. Scam, most of investor didn't get their money back.

Wow 11% per month too good be true

Why don't you try reading the website I provided first?

Mind sharing why you say its a scam? It cant just be because of the high returns. And by saying most investors did not get their money back you mean >50%? That's quite a hard accusation. Mind sharing how you came about this info?

Last time, the server that run CGAT EA was down. All the money wiped out.
Always circle yourself with traders group. Oh ya ! you should always update with FX scam group also. Cheers !

11%/month, then i can borrow personal loan from banks and invest in this FX, the interest earned from FX should enough to cover personal loan interest, and in the same time making money? make sense? lol

ya right 11%, how much is the "charges" if i pull out my money?

http://behindmlm.com/companies/fx-united-w...ew-zealand-fma/

Take a look..

When you open any forex trading account, you have a charge. In this case, FX United waives the 3% charge for your first account. You can close your account at any time and withdraw your total investment but if its done within 12 months, there is a 3% charge.

http://fxunitedpower.blogspot.my/

Yes it does make sense. Why do you laugh? Have you taken the time to review the links ive provided above? Why don't you do that and then maybe we can engage in a good discussion.

For everybody's info, I have been doing some serious research on this since early March. Ive contacted the authorities in New Zealand and also Bank Negara. Ive even researched the 2 directors of United Global in NZ (parent company). I've also checked the accounts of some of the investors (friends of mine) and their payments, etc.

So far, except for not being legally registered by Bank Negara in Malaysia to conduct forex trading, everything else sort of checks out in a way.

Yes the promised returns are really high and that's what makes me suspicious too but the purpose of this thread is to discuss the 'legitimacy' of this investment / scam or whatever its called.

So please take the time to read the links ive provided rather than just coming up with general statements.

well said..

waives the 3% charge for first account? Means everytime i "top up" then another 3% charge will be incurred?Means every month my "income" will from 11%--->8%?

Within 12mths close account, 3% charge on my total investment? IF yes, then doesnt looks appealing for me lo.

Please take into consideration the below, and do your own due diligence.
https://leaprate.com/2016/05/new-zealands-f...inst-fx-united/

Caveat Emptor.

Wow, issued just yesterday

Mind explaining how does your link explain fxunited being in this list..?
You never read what was in my link and yet you're saying that i'm 'coming up with general statements'? Hmm.

https://fma.govt.nz/news/warnings-and-alert...-to-be-wary-of/

I read your earlier link about 2 weeks ago already. That's an old link. I provided the response through a different link.

Its the new link about the FMA announcement which im focused on now.

This post has been edited by cybermaster98: May 6 2016, 04:14 AM

Let's not be silly here.

The 11% is paid out PER MONTH. The 3% is a ONE TIME CHARGE on your investment.

You have to withdraw your monthly interest every month leaving only the capital inside.

Ure getting 11% per month and ure worried about a one time 3% charge for early withdrawal?

But after the FMA warning, im also concerned that this could possibly be a scam. So appreciate any more info you may have or are able to share?

The post in the link was posted on the 5th of May and it's about the FMA announcement.
No sure what you're talking about.

Im a firm believer of this 'all scams are illegal but not everything illegal is a scam'.

Not sure if it holds any weight in this case though.

I am in about this thread.

It is very clear how Fx United operates and pays you such return a month.

You invest, they take your money to trades. If their ROI a month is more than 11%, the balance is theirs.

However, if their trade performance is worst n loss, they can't bear the cost of investment 11%, they will take the money from new investors to roll and pay you the interest.

So, if you invest in this, you got two risks

1. Risk of trades / trader
2. Risk of broker runs away

Assumption>>
1. Their plan or investment is legit

However, you never see how the performance of the trades and slowly you will need to bear two types of risks listed above.

In Long run, risk 1 will be the factor and if their performance is at loss and can't sustain anymore, bye bye n scam.

JJ forex operates this way too... soon they will be the same.

I am so excited to follow this thread.... Hehe

parking. waiting for updates

Yup, quite possible.

But at least with this, you break even in about 10 months. So anything after that is a bonus. If u cant stomach the risk at any time, u can withdraw the principle.

If you are going to risk this, why not try JJ which offers 20%per month.

Max investment USD1000

What is JJ?

JJ global aka JJ forex

No more discussion?

Bored....

As someone who was recently approached with this plan, it seemed too good to be true to have 11% interest rate.

I wonder where and what are they investing in to gain such profits?

I also quite doubt on this. They are MLM too. You get interest on certain percentage when your downline invest in. There is a Robot thingy to run on...

I have a lot of friends join in. Few of them already passed the first year, which means get all the money back!

Legal or not, I dare not conclude anything.....

Imo, it's a scam. But I do believe that if u are early bird, most likely u will benefit from it

It take times for those mlm, scam group to fall.
So by being early bird, u might jz able to profit from it

Well, it's a high risk 'investment'(most likely gonna fall around 3 to 5 years operation), so high return(damn 11% per MONTH).

So if any of u gonna jump in the ship, jz remember that the moneh might get burn and ur heart prepared for it.

BTW, how long this fx operate in msia?

Been around few years. Few of them even stop the job for this.

Human are greedy! Maybe put another word, free money, who don't want?
They start with small investment, once get money, they loan it from bank to invest more. They calculate the comparison for me, take personal loan, invest here, still get the profit! I really worry for them, as the 2nd round loan is huge figure!

Those who already in, won't believe any advice from 'outside their world'.

Few of them very lucky, manage to get help from this to clear their debt.

Thanks for the info, looks highly risky but assuming I have money to burn this may just be filed under my 'why not' scenarios

USD100 and USD500 can burn.

Rule of thumb: All scams are illegal but not everything illegal is a scam.

Just cuz we don't understand the business model doesn't make it a scam.

Anyway the way I look at it, they have been and will continue to pay out that 11% per month return because existing clients are not withdrawing their capital even after 2 years plus more and more new investors are coming in.

I've done sufficient research to conclude that this 'scheme' is not going to close down anytime soon. It's very well set up with a lot of transparency and media hype. I would say this will easily run at least for the next 18 months. I have even spoken to BNM and they too say its very well set up.

So while we debate if its a scam or not, others are making money by the day. So its entirely up to you if you want to continue debating its merits or just jump on board the train.

FYI, if you knew me well enough u'd know that im a safe investor with my main investments in property, ASB and the Parenthood Theme Park. I don't usually partake in anything above a certain risk threshold. But I am in this for the reasons mentioned above.

FYI, I personally know of 2 individuals who used to be Public Mutual agents. They pumped in about 220K each into FX United about 11 months ago and they make RM42K per month now. They have now given up on their Public Mutual daytime jobs.

Even the Geneva scam, a huge number of the early investors made a lot of money. Its only those who invested late who got burnt.

So how long has FXUnited been set up ? Or should I ask when did FXUnited establish?

FXUnited offers two plans:

1. Binary Plan。
Capital is locked and non-refunable unless you introduce two referrals blah blah...

2. Capital Guarantee Auto Trade (Cgate)

Min 12% MONTHLY guarantee return. My friend sighted the trade history. Loss ratio is very high. In short, the 12% cost of capital is unable to hit, thus, payout from members' capital is reasonable.

They offer MLM style, so your upline can suck your %.

You decide if it is legit or scam.

I don't trust about the BNM's opinion about "They are well setup", it sounds no meaning at all.

If I read it correctly you're saying that a lot of people understand that this scheme will fall eventually but still they are hoping that they are the early investor and make enough money before it collapses?

By "spoken to BNM", which level of officer that you talked to?

I am worrying this scheme will collapse like 4-5 years Geneva Gold?

Look MOP here

https://forum.lowyat.net/topic/3552097

If I recalled well, such IB talked a lot here and at last, disappeared.

I hope it sustains for another 1 year so you are safe.

5 years ago there is one plan, managed by a broker Absolute FX. The trader managed till about USD30m and run away.

Their MT4 trades are still running now. I have the login to view everything but money, gone. LOL

Smart money, smart invesment

11% maybe doable by most people trading forex, i know a few people who actually traded it themselves not through schemes.

wanna know more can PM me

tell me... can they give 144% return year after year?

like that... banks all close shop.... common sense will tell u... this thing won't last.

wake up...greedy investor....quit your job?...haha...good luck for the next 40 years of your life.

i know somebody who applied CC to join this and claimed can get 4k every month

Who?


I know the owner is Malaysian.

someone can make a poll on this tread?

lets vote... scam or real?

They listed as scam because they are not authorised to perform/collect any funds.

In order to know the plan is legit or honest, substance is needed .

This is why TS is now working hard to ensure he can recover his money in 7 months.

That's not the same company la aiyoo....do u know how many companies use the name FX United. Even if u change 1 letter in the name it becomes a different company la.

And its not a SCAM ALERT list. Its an alert list that notify's investors that such companies are not regulated or licenced by BNM and not authorized to conduct their business in the legal sense.



This post has been edited by cybermaster98: May 25 2016, 12:55 PM

Did i say its NOT a scam? Why don't u read my comments first? Im not one of those fools who go around investing in scams. I know this is NOT LEGIT and it will close down. All im saying is i am confident its not going to happen so soon.

Even if you dont introduce anyone you will still be getting the 11%. So the 'member gets member' plan is not entirely true

+1

Not the owner but the person who brought FX United to MY from NZ is Malaysian.

Yes. He's also one of the first to buy a the new BMW 7 Series at Auto Bavaria.

If u read my post from the start, my intention is not to market this product but to seek input from forumers who may have found out something more about this than what i already know. I was hoping for some insider news. Sadly, nothing shared here has been new. It's all on the net with full transparency.

But 1 piece of info was good. The 87% traffic coming from Malaysia. But that's explainable because they just started in Singapore, Philippines and Australia. They don't market this product in NZ i believe. Only the holding company is there. But i hear now they are moving to Philippines. Their office there has been in the process of set up since early this year. Again everything was detailed out on the FB page.

Like i said earlier. This is illegal and it wont last long. But im confident its not gonna go bust in the next 12 months or so...at least.

This is for sure illegal and wont last long. Question is how long can it survive? We have to be smart and take out our money when the time is right. I have taken out some $ once but still have $ in there.

U seem to be missing the point of this discussion completely.

THIS IS NOT A LEGAL SCHEME.

Do I need to repeat this a 100 times?

When I wrote to the FMA in March 2016 enquiring about FX United, this was the response given:

The Financial Service Providers (Registration and Disputes Resolution) Act 2008 requires a company that is carrying on the business of providing financial services in New Zealand to be registered and the company name to be listed on the Financial Service Providers Register (FSPR) which can be found at www.fspr.govt.nz. Entities are only able to be registered on the FSPR if they are actually providing financial services from a place of business in NZ.

The FSPR was set up to allow the public to check if FSPs are registered, their business address, the types of financial services FSPs are registered to provide and whether they belong to a dispute resolution scheme [DRS]. However being registered does not involve any licensing or determination by an authority that a FSP is a fit and proper person and is no guarantee that a company is currently operating in NZ.

Under NZ financial markets legislation, trading in spot foreign exchange does not require any form of license or authorisation by the FMA. While offering derivative products may require an entity to be licensed by the FMA as a derivatives issuer, this only applies when the offer is made to NZ residents. There is no licensing requirement in NZ for derivative products offered to overseas persons.



I also wrote to the FSPR and their response was as follows:

We refer to the online complaint you have submitted in relation to UNITED GLOBAL HOLDINGS LIMITED.

You have asked whether UNITED GLOBAL HOLDINGS LIMITED is “licensed” in New Zealand to “collect investments and pay out interest”.

We advise as follows:
• UNITED GLOBAL HOLDINGS LIMITED is listed on the NZ Financial Service Provider Register as an entity that provides the sole financial service, trading financial products or foreign exchange on behalf of other persons.
• The company has not been issued any licence by the Financial Markets Authority (FMA).

The promoters realise that early investors will surely make gains and only the latecomers will carry shit when it eventually collapse, this reason itself already mean it is a scam.

Picking a common name for a company is a warning sign.

This is another warning sign.

Dude, you are also promoting this company in at least one other thread.
Anyway, I understand why you do it.

For me, I'd rather go on a 6 month holiday to Genting.

I might just consider that too.

Yup its a gamble for sure. Maybe even the biggest gamble ive taken to date. But its not a huge amount. Wont break me even if I lose it. But lets see.

Not McD ah??

Should be less stressful

Nah no stress at all actually. At least with FX, I know the money will come in every month. The question is will the money come in for as long as I wish it would.

This is a ponzi scheme, pyramid scheme and possibly a money laundering scheme all in one. The address on their website is clearly fake as it is the office of another legitimate forex trading company, this company has denied being in anyway connected to FX united. That itself should be a big enough of a red flag along with the fact that a company supposedly handling tens of millions of dollars doesn't even have a telephone contact number or any further proof of their business etc. A ponzi scheme will always return you the promised money the first few months but they will definitely run away with your money, but you do not know if that's going to be tomorrow or 6 months from now. The fact that they haven't registered and need this pyramid nonsense is also another red flag, there is no way they can pay all those bonuses plus and extra 50% of the money whoever signed under you to your account, they are obviously using the money of new investors to pay for the bonuses, this is a ponzi scheme and it is not sustainable. If you still want to disregard all of our advice then go for it, it's not my money anyway. But if you are really interested in forex, then there are a lot of legitimate trading sites such as fxcm and oanda etc without the mlm bullshit.

This post has been edited by anantha92: May 29 2016, 02:22 PM

just found about this FXUnited and this thread..

quick check with New Zealand Financial Market Authority put them on their warning list
http://fma.govt.nz/news/warnings-and-alert...fma-warnings/#F

For me its simple.... if u already get back your initial deposit in your bank account... then its not a scam.

First few mths of fantastic return is not convincing enough.

Many are blinded by greed.

Not really. Getting back your deposit doesn't mean it isnt a scam. It just means ure an early investor. The earlier batches of Geneva investors made a lot of money. Its those who came in later who got burnt badly. I personally know of a few FX investors who have gotten back more than their initial investment.

Ive got another 5 months to go before I get back the equivalent of my principle. So fingers crossed I guess.

This post has been edited by cybermaster98: May 30 2016, 05:19 PM

Yes it was highlighted earlier in this thread. The warning came out on 4 May. But you have to read the reason for the warning. Every warning differs.

Anyway FX are no longer in NZ. So lets see how long they manage to survive.