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/

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.

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

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.

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.

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?

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.

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?

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.

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.

What is JJ?

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.