There has been for the last few months another multi-level marketing (pyramid) scam going on in Malaysia called FX United and it is going under the guise of an FX trading company registered under the name United Holdings Group (in New Zealand) where insane returns and bonuses are promised if you sign more people under you and have them sign up more people etc. Some simple research and logical thinking would show that this is indeed a ponzi scheme as such incredible returns are really not possible with what they show to be their business model. Some further research will show that their operating address in New Zealand is fake and over 90% of all the websites traffic is coming from Malaysia, which means it's a scam aimed at Malaysians.

Bank Negara and the Financial Markets Authority of New Zealand has already given out warnings against the company:

Bank Negara Financial Consumer Alert

Financial Markets Authority of New Zealand - Warnings

The following link also busts some of the other supposed information and the comments section also has some good info:

Behind MLM

Please tell everyone you know to avoid this at all costs.

This post has been edited by anantha92: May 29 2016, 01:46 PM

All MLM is scam.

Not interested in forex and mlm investment shit.

forex is genuine and is a good way to make money, but don't join these bullshit mlm ones, ones like fxcm and oanda are very good.

https://forum.lowyat.net/topic/3937951

Cuba hang rajin sikit sebelum buat posting

small subforum, not much exposure, kopitiam a lot more people will read it.

Meanwhile xm.com advertise freely at LYN

Thanks for your effort but to tell you straight, even you tell them also they wont listen one. So just let them be

Money is the root of all evil?

History hv shown... some of the scam victims are professional and highly educated.

History will repeat again.

most forex brokers are scam especially those with instant execution. they won't take your money to the market, instead virtually build up profit/loss. deswai when you win most of the trade they will freeze account or accuse you of scalping. find famous fx broker with market execution.

90% of mlm in Malaysia are scam.

any scheme promising you 100% return in a year automatically scam liao.

remember even buttcoin didn't made any promises.

Wapiang I thought old post alr..

should have a /k task force, ask the agents to meet up then catch them on the spot

There's one saying if its so easy to make back 100% with no risk, why dont EPF or all the fund managers just buy instead of taking huge risk in the market?

nowdays alot of shit

slow

I thought u said abt manchester united..

i read through all the comments from the blog.

those that invested have this mentality : i dont give a fark for my friends who signed up under me , as long as i get back my deposits, and continue get 12% monthly dividend, i dont care

If you an early investor then you probably will make some money, but you don't know when they will close shop and run with all the money.

Malaysians like to fall for this type of scam, get rich scam, mlm, pyramid scheme etc. when will Malaysians ever learn.

Slow like bobo

probably never

there's even this new thing called komuniti-something
they say invest rm30 or 50 in 14 months can get rm9xxxx

LOL just saw my ex colleague went to work there on linked in

I have an ex colleague who joined this too. Told us he already got back his capital and earning good income. Well good for him. Hopefully he don't dump more money into it and get burn.

Reminds me of those poor folks who invested heavily in Geneva Gold.

one of the trait to identify forex (other inv too) scam is to look at their about us
- no info about mngmnt or even if there, the guys probably from area near russia region
- the company address probably at belize

avoid at all cost

My colleague join mface...is it a mlm scam too..

This one is supposedly based in new zealand and a simple google search will show that the address is fake. Also there is no phone contact numbers, for a company supposedly handling tens of millions of dollars a month, this is a ridiculous joke.

Thanks for sharing

heard the top management / datuk ran away already? how is the co. doing now?

They have new program now, still looking for people to invest. They seem to have changed their structure a bit.

And here I am, waiting for my money from previous investment with them. Dont think I will get my money back to be honest.

anything that claims that will make you money asap is a scam. i kenot brain why ppl join this