A new Ponzi FOREX program is trying to gain traction on the usual suspect Ponzi forums Talk Gold and Money Maker Group. The name of the program is ExoticFX.
In the past, these type of Ponzi schemes claimed the principal was “guaranteed.” ExoticFX uses a new twist by saying that your return on investment is “guaranteed.” Contrary to what ExoticFX claims, you cannot “guarantee” the return on investment trading in FOREX.
ExoticFX says they are registered in Hong Kong. It is the only thing they say on their website that is true. But, they are not licensed and registered to trade FOREX anywhere as required by law.
This is just the tip of the iceberg regarding this bogus company. There is far more information, or I should say lack of information on their part, that screams that ExoticFX is a Ponzi. Will it pay? Of course it will in the beginning. All Ponzi’s do, but there are only two outcomes of this Ponzi. They will close and run with the money, or the feds will move in and shut them down. This is nothing more than robbing Peter to Pay Paul, which is nice if you are Paul. Too many will be Peter.
Lynndel Edgington (EagleOne) is is the author of Robbing You With A Keyboard Instead Of A Gun, the Founder of Eagle Research & Associates , and works with multiple Federal Law Enforcement Agencies.