Mike Douglas and MTA Online SCAM

There is a good article in the Sunday Times this morning about Elijah Oyefeso, another referral fee collecting rags-to-riches "financial guru" - http://www.thetimes.co.uk/edition/business/he-wins-you-lose-in-binary-casino-g0mcq5npx

Although it's binary rather than forex, the business model is essentially the same as MTA, and the article detail complaints and legal action against 24option, which is part of the same company as 24fx

City of London police said fraud complaints against binary companies had spiked “dramatically” in recent months. The average loss: £20,000. “It is the latest and perhaps fastest-growing iteration of investment fraud,” said Andy Fyfe, the force’s financial crimes specialist. “These companies are luring a much younger audience of would-be investors because they are advertised on social media, like Instagram. We’ve never seen that before.”
Click to expand...

This part may be of interest to those unable to withdraw their funds:

But in the fine print lies the catch. In Dunsford’s case, when he accepted the cash, he had unwittingly agreed to a harsh condition. He could take his money out only after he had traded the total balance — his cash plus the bonus — 20 times over. It is a standard tactic. Say a client has £1,000 in their account and accepts a £1,000 bonus. They must then do trades worth £20,000 before they can make a withdrawal.
Click to expand...

Last month it was banned by France’s regulator, the AMF, for failing to act in “an honest and fair manner in the best interest of its clients”.
Click to expand...

Gabriele Giambrone, a London lawyer, says he has case files of more than 3,000 individuals who claim they have been defrauded by binary companies. He said: “This is a small fraction represented by a small firm. Who knows what the true scale is?”
Click to expand...

Fyfe of City of London police is not surprised. “I would never criticise someone falling victim. We must not underestimate how good these people are as salespeople. Their skills are phenomenal,” he said.
Click to expand...
 
Did anybody notice in his latest video from Santorini:

Matt - "We can sit here and trade for the week"
Girl in pool - "Apart from the fact we ain't got a broker"

Comedy gold - even the girl you take on holiday is taking the **** out of you
 
did you see his reply to one of his comments, started with a 5k account and it only took him 2 years to be a millionaire. Bellend
 
Wonder if they have packed up and over out of the shard yet as it had been very quiet from all the other fund managers lately !
 
This was sent in a signal group this morning by Dan Newman as I think a lot of people can't get any money out still -

Dear 24FX,
I am writing to you in concern to my withdrawal request made on [Date] your term state that it will take 5 business days to return monies requested. This time has greatly lapsed and I have not been updated as to why or next steps.
I would like all monies (including profits) requested to be returned to me in the transaction form I have made it in within the next 48 hours. I will not be opening up a paid e-wallet account in order to receive my monies as this was not the form in which you received my funds.
When signing up I had signed an agreement to have my first transaction withdrawal free, this currently has not been honoured and breaches misleading advertising laws.
The manner in which my withdrawal request has been handled has been appalling, I have not received clear communication nor have my client interests been taken into account.
If this is not rectified within 48 hours, I will be filing a formal complaint with your compliance team and with CySEC.
I look forward to hearing a response soon.
Yours Sincerely,

[Full name]


Hello,

Thank you for your email I am currently reviewing the current 24FX issues.

For many of you, you have been experiencing problems which include delay in receiving funds and requests to set-up unnecessary e-wallets.

It has been noted from several emails over the weekend that all of you are being charged a withdrawal fee. Some of you had signed up to a limited offer that offered a first free withdrawal, do chase that if you have evidence.

Please note that in your contracts with 24FX there is a withdrawal fee clause. Please note the fee is applicable to the following forms of payment; credit card, e-wallet and wire transfers. Info below:
https://www.24fx.com/general-fees/

You all appear to be in a strong position to file a complaint to 24FX for the way in which your requests have been dealt with. I have attached a suggested complaints template you are welcome to use to support you with chasing your withdrawal funds. Please note the complaints template is a suggestion only and you do not have to use it or you may want to seek your own council for advice.

I hope the above information helps with moving things forward for you.

Kind regards,

Natasha
 
The fund managers hardly trade anymore and don't do that well! Why is it that nobody ever sees results over a longer period of time other than just on the good days?

One of their best FMs left recently because of all the **** and I can't blame him! MTA will get found out eventually and then we will see what Matt and Mike have to say for themselves. An utter joke of a company ran by people will no morals, it's a matter of time until everybody else sees through it!
 
thetakeover said:
Did anybody notice in his latest video from Santorini:

Matt - "We can sit here and trade for the week"
Girl in pool - "Apart from the fact we ain't got a broker"

Comedy gold - even the girl you take on holiday is taking the **** out of you
Click to expand...

o my jesus christ, thought you were joking, but the video actually is there and the girl actually says this and he has actually left the video up for all to see lmfao.

this guy never ceases to surprise me on a daily level of stupidity, one day hes going to take over the world and be the biggest bank in the world, next day some random slooze in a pool tells him "we aint got no broker" in a beautiful Essex accent. you could not make this up!!! brilliant.
 
Matt Travis Facebook post: "Check how many clients are waiting for their profits from the broker." Posts a picture of a Whatsapp chat between 5 people :LOL: so... 5 people. Are these people not the slightest bit suspicious as to why their funds are not being released, assuming they've completed all ID&V / KYC checks?
 
I'd rather not disclose their details but I've told them about this thread so they may chime in themselves at some point.

Matt likes to think he's "sacked" people but the truth is that people have called him out on his sh*t and he's thrown his dummy out the pram, deleted and blocked them and then ranted to his ponzies.
 
Afternoon guys! We have the link.

You will need to open a MT4 SPREADBET account.

We have spent a very large time finding the right broker for not just you but us as well!

They are one of the largest in the world based in the UK, London, FCA regulated and great reviews etc.

We have had our own compliance team check their background and we were very surprised how clean it was for a broker.

Spreads are crazy low and you will be open to trade straight away. Verification you can do yourself through your own portal and withdraw as and when you want.

Let's get your accounts back trading by this evening as we will be trading again from tonight with our traders lounge.

Love you all and thank me in a weeks time when your in love with the broker and us.

Get it funded tonight so we can all trade again.




It's www.lcg.com - didn't want to put their referral link obviously ;)
 
Just to confirm, I've signed up for an account there (live, non-funded), and one using the MTA link (live non-funded), I can confirm - even though we all knew - there is no difference in spread
 
You must log in or register to reply here.

Similar threads

L
  • Locked
Mastery Trading Academy .. swindle
4 5 6
Replies
108
Views
47K
Trader333
Trader333
G
Anybody know of these Guys?
Replies
16
Views
6K
ProfitTrader2015
P
B
Douglas and James
Replies
0
Views
3K
baz65
B
T
Cheap Do-It-Yourself tool to lear Trading Psychology and RIsk & Money Management
Replies
0
Views
2K
TradeInVertigo
T
BSD
Self Efficacy: The True Key to the Mint
Replies
19
Views
6K
brfrexloid
brfrexloid
Top