False allegations against Mirror Trading International

A group calling itself 'Anonymous ZA' published some news of a scam that allegedly happened at Mirror Trading International. It calls MTI a fake Bitcoin investment company that is involved in a multi-level marketing scam. Information that was obtained from the security breach of MTI internal systems is used to project the company as being structured around a pyramid scheme. Media also alleges the company follows a practice of differentiating between founder members and regular members. We will look into both these aspects in-depth and in detail in this short post.

Legit trading network

Firstly, MTI is not a marketing network even to start with. It is a real trading company that provides its members with an additional revenue stream for affiliates. The earnings are optional and paid out on weekly basis, unlike daily profit earnings. Moreover, they mainly promote forex trading and Bitcoin, rather than their affiliate scheme. Additionally, MTI has been operating successfully for half a decade now. There has not yet been a single complaint in regards to withdrawals. MTI being a Ponzi scheme is out of the equation.

Critics highlighted reports that suggest MTI distinguishes between normal members and founder members. Anonymous ZA reported that though deposits made by founder members cannot be traced, they bag a better ROI than normal members. They further hinted that the founders sit right at the top of the pyramid. They also earn more cash from their binary bonuses rather than ROI. This allegation has been refuted in a fiery way by Cheri Marks, a founding member & spokesperson. She clarified that the founders were given a pool as a reward for building the system. Besides, pool revenues depend on the size and investment of the pool.

Tiff with FSCA

Some of these allegations are further emphasized by the Texas State Securities Board (TSSB) and The Financial Sector Conduct Authority (FSCA). These organizations have even issued their official public statement regarding this. TSSB and FSCA are naturally poised to not like Mirror Trading International. FSCA is making some over the top statements asking members to withdraw funds. MTI has been entertaining withdrawal requests as it comes. Organizations like FSCA will not like MTI because the latter doesn't come under the control of the regulator. MTI smartly deploys an alternative finance system that is neither approved nor blocked in any jurisdiction. TSSB didn't like MTI for the same reasons as well. They issued a 'desist' an order against the financial company and even some of their employees.