Exential Group – Managed Forex Accounts Scam

By | April 7, 2015

Update 24/10/2016

I was informed that a class action lawsuit against Exential is being prepared by the Giambrone law firm. All people interested should visit this page.

Update 25/07/2016

More than a year since this article was written, authorities have finally shut down the fraudulent operations of Exential Group. From Leaprate.com: Exential Group in Dubai Media City was ordered to cease trading on Sunday as the Department of Economic Development (DED) investigates complaints by clients that due payments had dried up.

Our managed forex accounts use short-term trends following methodologies to deliver exceptional profitability. Our specialised trading technology achieves average annual returns in excess of 100%with drawdown never exceeding 0.5% per transaction since inception in 2011. – Exential Group Advantage

If this sounds appealing and you have at least $20.000 – their minimum – to ‘invest’ with Exential Group, then you should read on before parting with your money. This company ticks off all the boxes of a classic managed accounts scam:

  • it’s a faceless, nameless entity. Who is the owner ? Who are the traders, what credentials and experience do they have ? Who authorizes them to trade other people’s money ? No legitimate company would hide this kind of information
  • the returns they supposedly achieve don’t resemble the distribution you’d normally expect from a trading account with 4 years history. For each month since January 2011 the  returns advertised vary between a low of +7% and a high of 11.4%. This easily makes the traders capable of achieving such lofty and consistent results the best in the world. Why haven’t we heard from them ? Why aren’t their names splashed on the front covers of magazines ? Because these are just numbers pulled out of thin air which couldn’t withstand any kind of scrutiny.
  • third party verified results are in stark contrast to those advertised, with losses around ~50% in just a few days. The period covered is under one year, as opposed to the unverified four years of excellent results advertised.
ex1

Myfxbook screenshot

ex

Myfxbook screenshot 1

  • the strategy used, booking small profits and letting losing positions open in the hope they’ll come back is a recipe for disaster and a clear sign of their lack of expertise in trading
  • they work with an unknown, opaque, offshore registered broker, FCI Markets, which raises doubts that the same persons are behind both these entities.

When presented with the above information, there are two things a person initially convinced by Exential Group’s advertising could do: 1. realize that it’s a scam and run in the opposite direction

2. say something like: ‘you can’t be right, I know or read of so and so who have been with them for some time and they made money’. This was the usual answer too when victims of Bernie Madoff were warned before his Ponzi scheme collapsed. It’s just the typical way a scam operates: some people have to make money in order to spread the word and allay fears of those who are a little bit more skeptic.

To conclude: don’t spend your money just because you like what you see and hear. Talk is cheap. Watch The Wolf of Wall Street movie if you need a reminder of that. Thoroughly check the facts before parting with your hard earned cash.

267 thoughts on “Exential Group – Managed Forex Accounts Scam

  1. John Doe

    I have invested my money with Exential group for more than a year now, I’ve made back my original capital up to date and withdraw all of it into my personal back account, and i still make money every month.

    1. Jules BRUNO

      John – Exential Group, former Tadawulme! You may be at the top end of the ‘pyramid’ or you are one of the owner. I personally would not invest one penny with them!!

  2. raj

    Jules, you are correct. Joh must be a share holder of the company. it looks like a million dollar forex trading scam. This will burst very soon. One of my friend also invested about US$ 80,000/- I think he is fooling himself. He was convincing me to join him as well by paying US$ 20,000/-

  3. Hassan

    I am 100 percent convinced this can be an scam. Which entity can provide 10% from the investment as profit and they only plan to collect big fish in a given time.

  4. FX_Trader

    How do we confirm this group is authorized to perform managed FX trading, I too have accounts with them…If this is a scam, I would close my accounts.

    1. Jamie

      It is not authorised to handle any money. Nor is it regulated. Beware Ponzi

    2. Celine

      Hi Fx Trader,
      I have withdrawn my account from them because all these negative reviews got me so worried. But then, I got my capital back with the profit after 20 days as promised. But while waiting for my money to be transferred back to my account, I did a thorough research about the company and found out that it is indeed legit. As per their website they have a partnership with S&S Brokerage House which is listed with UAE Central Bank. I then called S&S Brokerage House and they did confirm their partnership with Exential Group. Now, i have to wait for 6 months to be able to open an account with them again. Good thing, my Fiance decided to keep his account. Check UAE Central Bank’s website and go to Financial and Monetary Intermediaries and you could see that S&S Brokerage House is listed. Then check S&S Brokerage House’s website and call their numbers to verify with them.
      Hope this helps.

      1. Kaka

        These type of companies waiting for big fish .Beware Ponzi. Invest with Century Financial Broker call Suresh At 0552336723

      2. Yashvant Patel

        Thanks for information but did you ask S&S Brokerage House about their Returns to the Investors? am sure they might issuing returns at moderate rate not like this ExtentialGroup. i still believe this as a #Ponzi scheme.

        Good Luck for your Investment

  5. Jose

    I opened my first account at the end of 2013, and I recovered my money in eleven months. Today I have in my account 5 inversions with money of friends and family and all of them are working great. Yes we had trouble in January of this year, as everybody owed to the Swiss franc situation, but everything is working good. I am a client and I don’t work there. Regards!

    1. trade me

      In reviewing a friend’s account, they never traded in Swiss-Euro so they should not have been affected.

  6. Jamie

    Scam alert. Many EK and FZ have Pilots are in the process of attempting to withdraw their funds. Some are paid in cash only when they make a fuss at the Media City Office. Heavy losses incurred in Jan 2015. Their own stats say they make 4 – 5 % but only on $50000 invested in FX, they claim, and payout av. 9% per month. So are obviously using new funds to fund the payouts. Check http://www.pprune.org/middle-east/563715-ponzi-scheme-targeting-crew-beware-do-not-become-victim.html

  7. Jamie

    There is a FX part to it. Beware it is only a tiny part of it – to give it the air of legitimacy.

    Only $50000 (plus $ to cover huge loss in Jan 15) dollars has ever invested in FX by this scheme a drop in the ocean from all the funds invested. – but scary in itself.

    You are given access to the myFxbook stats – ANALYSE THEM!. There is 1, and only 1 account with an average investment of $50 000 ( = 2.5 investors/accounts), it is symbolic in nature. Your money is never invested in FX.

    They claim this account “Master” represents yours, that it is “mirrored” and therefore is a representation of your account. Your account is similar to this, but you do not see it, and cannot access it – TRUST US they claim.

    The reality is, out of all their customer funds (Millions of $ according to them – probably true) ONLY 1 FX trading ACCOUNT of $50000 exists – the one you have access to. The “Master”

    It is like one individual ‘show home’ at a property marketing event – there is only 1! – but they promise yours also exists and is identical “mirrored”(to use their exact marketing phrases).

    The reality is that money deposited by the investors is not used on the FX market, instead it is taken to pay profits to existing members and the rest is taken by the owner, you only see fictitious profit statements in the system. Your money is not invested in FX, only a symbolic $50000 has ever been invested.!

    Why do you not have access to your individual account? Reason: It does not exist!

    They do not even try cover the facts from people who actually believe a mirrored account exists and believe their money is invested in FX – :Check the Profits vs Myfxbook stats. FACT: Not enough profit/gain is made even in the “Show home/Master account” to cover your monthly profit of 9%. (myfxbook stats from 2015).

    Ponzi 101

    Get out if you still can!

    A huge loss was incurred in Dec -Jan – 65% loss. Reason CHF devaluation. Did your profits incur a loss – of course not. 9% as usual..

    They recapitalized the “Show Home” – symbolic “Master” account, to cover the loss- and all looks rosy again.

    Did they ask you to recapitalize (put additional $ in to cover the loss, as they did in the “Master account) – course not, did your balance drop? – course not. Your money was never invested in FX anyway.

    Demand your money back before you lose it all – there might still be time.

  8. Joe

    This is quoted from Exential’s July Newsletter:

    “Safety: All client funds held with top rated banks”

    Does this mean client funds are not invested in a FX Broker, therefore how can it earn from forex when it is just in a bank?

  9. Abel O. M

    Well am not an expert concerning issues of trading in forex but i wonder why pple are easily loured to issues of making lots of profits.Remember when deal is too good just think twice.

  10. asim

    guys just pay attention to one thing which is the s&s brokerage house which is regulated by the Central bank n thru whom exential does the trading.
    Now this company s &s is owned by one of the ruling family members which is the nahyan family and i guarantee that no company can exist in uae for even one day if they use the ruling family members name in their business as a fraud. Please anyone do a research on this n then comment with valid evidence.

    1. Mo

      Asim, s&s does seem legit, but what exactly is their relationship with exential? Exential seems to only have accounts with FCI and Ellipsys, both of which are based in offshore and virtually unregulated jurisdictions.

      Another thing: transparency is good, but doesn’t it seem a little toooo convenient that S&S has its central bank licensing so prominently displayed on its website and in search results?

      Exential is NOT being regulated or audited, and any claims to the contrary are simply deceptive.

      1. asim

        I only ask one thing did u go to s&s n ask them for details.if its not transparent theres a problem n if a company is transparent then its too transparent. Guys please present an objective evidence n not based on assumptions. Everyone here are discussing this topic without actually meeting anyone in exential. Please meet d director sidney n clarify ur issues.All these talks r only talks without any base.

    2. Kaka

      Exential is only a IB dealing with S&S . Exential is not regulated by Central Bank. Do trading by your self with good Adviser. Call Mr. Suresh @ 0552336723 he is working for Century Financial brokers.

      1. asim

        Trade yourself and make 100% loss. Amazing. Spend number of hours learning how to trade and when you loose all your money century will blame it on leverage. Professional advice. Just google and check how many percentage of amateur people loose there money with professional advice.

          1. Kaka

            Making money from this Ponzi scheme, means committing an offense and stealing money from your colleagues. Any profits made can legally and should be redistributed to victims that will shortly lose their initial $20000.

        1. Kaka

          To the believers, and the guys who recently put their bonuses into the scheme. Get your money out now. Do not let them scam us again. History has a way of repeating itself. The facts:

  11. Alan

    I personally believe this company is a scam. My friend was seeing one of the guys who used to go to people houses to explain to them how the company works. He once said that he will not buy any property in Dubai because when the company will run away he will have run away faster . If you worked hard for your money stay away from them.

  12. asim

    Guys ive got an account in exential for the last 9 months and i withdraw my profit every month.Now recently i opened an account with a new company and am getting approximately 20%return per month and minimum amount is only 5000$. But guys whatever u day still exential is doing good. All the best with discovering the truth.

    1. Sam

      Which other have you invested? Do you mind sharing the details

      1. asim

        hi guys this new co. is amazing ive already made 20%returns in 1 month n also got commission of 5% 4 every new investor i introduced. Tadawul is still going amazing n d new co. is low risk as min. investment required is 5000$.
        You no what alot of people r saying alot of things but exentialgroup just expanded into hungarian n saudi arabian markets. Remember no risk no gain. But if u r interested in investing in d new co. send me ur name n no. on 0504967504 n if i refer u i get commission n if u refer anyone after investing u get commission all d best.

    2. Sam

      HI Asim
      which compay you invested with and is giving you 20% return with minimum of 5k only?

    3. ritchmond pagaduan

      what company is this that you earn 20% returns in a month? how much is the capitalization? also,how can i be invest in exential group as i am of the philippines of asia. i have an account in exential group but under the name of my good friend working in dubai. my EG account is now 11 months old and i have been recieving 9% returns each month. i want to invest again in EG but i sumhow want it in my name for more security and long term reasons. i thank.

      1. asim

        Please add me in ur whatsapp 00971504967504 for more information about the company

    4. Alvi

      One of my friend also invested with exential and he also recover his half invested money still going good

  13. Stephen

    Yes Exential works really good , But now there is another Company giving me 20/25% per month.. Amazing ! If you need info contact me fc737800@yahoo.com

    1. JLTrader Post author

      I’m all for free speech and don’t normally block comments (unless they use abusive language), but somewhere a line must be drawn. From now on, every comment like the one above, advertising obvious scams, will not be published.

      1. Aberjulz

        Well Said Mate!! We just can’t stop deez bad mouths!!

  14. Cecile

    we had opened an account last march 2015 and so far we got almost half of our capital. We’re planning to open another account, our friends also gain profits from their account as well.

  15. lily

    This was introduced to me by my co-worker’s sister who’s a member for 4 years. I decided to join in December 2013 when I was 26 and until now I’m 28 and it is still working. Only 7-11% monthly but my earnings in exential is a big help up to now.

  16. uaepsn

    Guys 15-20% interest coming is true with >=10K account only..
    Exential group also giving 7-9% per month but with 20K USD.
    Its upto you guys to take risk.
    All the best.

    If you want more details, send to uae1233@yahoo.com

  17. Rabih

    I have so far opened 7 accounts with Exential and about to open another 7 within the next few days. So far all looks good, however once I recover my capital I plan to close half of them and maintain only 7.

  18. asim

    hi guys the company i mentioned b4 has raised its minimum investment to 10k $. But returns are anywhere between 18-23% per month. Its my 3rd month with them. They are based in uk only and no official in uae. If you are still interested then contact me thru whatsapp on 0504967504. Ill be more than willing to assist you.

    1. David Kaguthi

      asim please give us the name of the new company

      1. asim

        Hi david please contact me on my whatsapp n ill provide u full info regarding the company

  19. Aiezl Nuqui

    Does anyone know the US tax implications if money is withdrawn after growing?

  20. Mike

    I suggest all friends above to get a clear understanding about the concept of “Managed Forex Trading Account” as it is a new and productive concept to benefit investors in a high risk market. Further to this it will help all investors to make the right decisions and right service providers . This information is generally on available on the net however there is more to a general explanation to the actual concept behind a “Managed Forex Trading Account”. If you need a better understanding feel free to write to me at dmt18091980@gmail.com or leave your comments below for a healthy discussion.

    My intention over here is to throw more light on Managed Accounts in the forex Markets!!!!!! And change the mentality and belief of investments especially in the forex market which is let down by certain unplanned and unorganised companies .

  21. stephen

    Hi Hello Guys!! It’s my 4th Months with this forex company and is amazing.. i got around 20% of profit every month… is real!! i can share info … contact me at fc737800@yahoo.com

  22. Dixon

    😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😅😅

  23. Aber J

    Hi Stephen!!

    Its really amazing to get 20% profit every month then u say in a year i will get 240% for sure??? Also please confirm how long does this company take to transfer the withdrawal of profits back to the client accounts because i have heard that they take 15-25 days to transfer profits back…

  24. sam...

    hello all,

    beware, this is 100% ponzi, i deposited the money and withdrew it in 15 days…the money i got was equal to the money invested…..

    questions asked
    1) pls. show me the audited P&L / B/s – Ans – we cant, you can withdraw the amount
    2) why did you move to australia – Ans – we cant show papers, you can withdraw the amount
    3) Based on algorithmic trading, you can go to losses – like Barclays, Barrings etc, how you circumvent that… Ans – Its done by Robot….

    The agents get hefty commission and show pathetic PPTs…to people who are not financially literate….just withdraw and run in the opposite direction…like i did

  25. mohamed

    Guys ,
    I have done 5 month research on EXENTIAL GROUP and everybody was saying its scam appeared to me that weather they are jelous and scared and weather they are spreading non professional information
    after my research I found the company 100% legit, do not tell me they are doing a ponzi scheme and/or giving one account verification and playing with the rest as they are monitored by UAE goverment including DIFC and central bank and I have called ministry of trade and they replied professionaly they told me in UAE give me a name of one company who were scamming people for 4 years even through ponzi and they have not got caught it may happen for one or two years but not from 2011 and they are still running in UAE
    so enough lazy talks
    I have invested in 3 account and recovered all of them in a year and still making money

      1. MADELYN P. CENA

        Hello Miss Melissa, so far i received my capital last December 2015. I started to invest last june and then i was panic when i read the comments that this is SCAM so i was decided to withdraw my capital last october 22 then i receved last december 2

  26. asim

    hi guys. wow so much talk about ponzi schemes. looks like we need an eye opener for managed forex accounts.
    I recommend please go to these different websites which offer copy trader facilities i.e. MQL5.com, fxstat.com etc.. and check out for yourself how much money these traders can actually make per month and then you will say exential is nothing compared to them.
    Also check out these companies ads-securities.com or cfb.ae in which they trade on your behalf if you have an investment of 50k $. Also these 2 companies are directly registered with the central bank of uae.
    Whoever does not have an idea about forex and considers exential making upto 9%, too good to be true, then please checkout the websites i mentioned, hopefully it will open a whole new world of forex.

  27. Aber J

    Hi All,
    Good to hear mixed reviews about this company but i’m not going to take a chance based on 1 or 2 positive reviews after all the research and negative feedback ive got from their own clients, it doesn’t make sense for me to give them a chance especially when it comes to dealing with big money and investing. I also came across another company who is into the business of managed trading accounts (their website is AD REMOVED) and sounds legit with the answers i’ve got from their staff. They also provide the trading platform with read only access which makes sense but yea something live and transparent like this makes a lot of difference rather than PPT’s and Excel sheets.. 90% of my research on this company turns out to be legit and a good deal so i guess i will be giving it a try and will keep you all updated on the progress.

    1. mohamed

      EXENTIAL having now 16,000 account and all of them earning the same amount every month so I am surprised on the sentence positive and negative feedback from their clients because all their clients should be the same,
      for someone who was saying it trades on 50,000 USD why?
      to minimize risk in managed account you trade with the least amount from every account so if you lost the 50,000 USD in one trade a day from each client it will be may be 20 USD
      I believe in that forum only people who got understanding on managed account trading should be chatting people knows about forex doesnt mean they understand what managed account means

      thank you

    2. Anthony

      Can u email the name of the company? or inbox your contacts we discuss in private?

  28. Tolitz

    Guys, if you are so sure that EG is a scam, why don’t you go to the right government agency and expose it for what it is and take the professional credit rather than trying to convince a few of us that you are right.

  29. Martin

    As i read all information mentioned here, i have called S & S Brokerage and they informed me that Exential Group is associated with them.

  30. srr

    Hello Guys
    I got A question.
    Has anyone Lost their principal amount after investing in EG in the past 4 Years?
    The above forum is talking bout scam & not scam but no one has said word on loosing money.
    i know its better safe than sorry :-)
    cheers

  31. Nat

    Article from the UAE’s National Newspaer Today. It is probably too late to get out now, as authorities will needless to say be investigating, but you can try to recoup at least something.

    Investors warned over ‘double your cash’ scams in Dubai
    Nick Webster

    January 6, 2016

    DUBAI // Amateur investors are being targeted by financial conmen offering to double their money in foreign currency exchange trading.

    In fact, financial experts say the “forex” funds don’t exist: they are Ponzi schemes, in which new investors’ cash is used to pay returns to existing investors, and could collapse at any moment.

    “I could probably find 40 in a couple of hours, just in Dubai,” said Sam Instone, chief executive of AES International financial advisers. “If they are allowed to get away with it, these kind of get-rich-quick scams will thrive.

    “To the poorly informed, they look genuine. It catches out a lot of people. I hear heartbreaking stories from people like teachers who are often targeted.”

    One fund company, with offices in Dubai Media City, promises a return of 110 per cent on an investment of as little as US$20,000, less than Dh75,000.

    “Airline cabin crew and teachers are attracted because they can double their salaries by opening two or three accounts. It is built on greed,” said one Lebanese investor who withdrew his money from the fund when he realised it was a scam.

    “$20,000 for an investment fund like this is particularly low, that is the attraction. Usually the minimum deposit is nearer $100,000, and pays just 7 per cent a year.

    “Offering 110 per cent a year is phenomenal. It is too good to be true, so I got out quickly.”

    Even then, he had his deposit returned only after he threatened to contact regulators. “The fund managers were fine at first and paid back my first account,” he said. “But on my second, the communication broke down.”

    “I heard nothing and after 35 days I was getting worried,” the investor said.

    “I sent them an email and told them I would contact the authorities at Dubai Multi Commodities Centre and within five minutes I had an email and the money was returned the same day. They try to hold on to cash for as long as possible.”

    Alina, a former cabin crew member, also invested with the fund, which told her its core business operated from the British Virgin Islands.

    “Because the money is held in BVI, it is easy to freeze and transfer to anywhere in the world,” she said. “This is not regulated and it is not a reliable investment.”

    She withdrew her investment after reading warnings about the company on an online chat forum for airline staff, but she said many of her colleagues had risked their life savings.

    “Many are not financially educated, all they see is their friends making money and they want to join in.”

    Alina was also concerned when the fund manager told her it would take up to a month for her to withdraw her cash if she wanted to close her account.

    “As soon as you have opened an account and deposited the money, customer services are very difficult to get hold of,” she said.

    Brett, an investor from New Zealand, closed his accounts because he had doubts about the legitimacy of the company.

    “I asked key questions like how to view live trades and why it took so long to get the money back once accounts were closed,” he said. “They didn’t answer these basic questions, so I closed my accounts.

    “It was too risky. I know someone who has three accounts and has borrowed money to invest. If it collapses, he is in serious trouble.”

    William Messruther, group manager at the Continental Group of financial advisers in Abu Dhabi, said some of his clients had asked him to withdraw regular savings to invest in what they believe are forex schemes.

    “This could all disappear tomorrow. No one even knows where their money is going,” he said.

    “It is not a case of if they will collapse, but when. Some people know the risks but are still happy to invest. It is dangerous. The bottom line is people are greedy.”

    Investors lost millions when MMA Forex, a Ponzi-like investment scheme in Dubai, collapsed in the summer of 2013. The company’s chief executive, the Pakistani businessman Malik Awan, was jailed for two years for fraud.

    To operate legally, fund managers must be licensed by the Emirates Security and Commodities Authority and the Central Bank.

    Legitimate websites will clearly state the name of the regulator that oversees their work, and details of their commercial registration and trade licence.

    ___________

    How to invest safely and avoid high-risk bogus schemes, from AES International.

    • Legitimate financial advisers should be able to answer any queries about the financial plan or asset fund, and make it clear what fees will be charged.

    • Some countries have no regulation regarding who can provide financial advice. Advisers should be upfront and specific about their experience, knowledge and qualifications, as well as the regulatory framework in which they operate.

    • Financial advice should be independent and tailored to your needs, trusted planners would never profess to being investment experts as well. There are many ways of accessing investments without paying for advice and a good company will be able to help you get started.

    • A first meeting is all about you and the adviser getting to know each other. It’s an opportunity for you to ask questions. Be wary of anyone trying to sign you up to a plan or product at the first meeting. A decent advisory company will be able to provide more than one happy client referral.

    nwebster@thenational.ae

    Link>> http://www.thenational.ae/uae/investors-warned-over-double-your-cash-scams-in-dubai#full

    1. asim

      Please check out ads-securities.com, who are directly regulated by the Central bank of uae and where copy trader facilities are provided. Some of the traders are giving returns of 7% per month. Now let the financial advisors tell us if this is a ponzi scheme.
      All these talks about ponzi schemes are only done just because some of the financial advisors are not able to get investors where they are giving such low returns.
      Please go to MQL5.COM and fxstat.com and see for yourself everyone what forex trading can do if professionally done.

      1. ed

        Asim this is to confirm your LIE—- i called last september to ads-securities—Very reputed organization not only in UAE but also in the world….I asked them about extential group–and they told me be very careful bcs that company is in the red line of collapse !!!!!!!he told me straight away when i asked him—-“” oh you must be cabin crew or pilot from EK or FZ”” …DONT LIE and let the people to get their money if not late!!!!!!!!!!some of my co workers are waiting for the profits since dec 2015 ….

        1. asim

          Before pointing a finger at someone, do your research( suggestion).
          If i wanted to only talk about exential then i wudnt have mentioned ads-securities. Unfortunately that company would not have given you a very logic reason behind their bad-mouthing about another organisation and i am sure of that. It doesn’t matter which organisation i work with, main thing is ive invested my money and care for it, same like everyone.
          In today’s world people like you cannot believe that how much money can be made with forex alone and what exential is doing is extraordinary but again ive also found a few more companies doing the same in dubai and also registered but with little bit less returns. So please again i recommend you to do your studies.

  32. Aber J

    Wow!! Now i hope this article on The National is an eye opener to those who have invested in EG.. It clear states the location of the Company which is Dubai Media City and the Minimum Investment amount of $20,000.00, its just the company name which is not published. Another point to confirm so is the promise of 110% LOL !!!

    Thanks for sharing the link and post NAT.

  33. mohamed

    It looks like the writer read that forum and went and tried to copy the negative comments
    Funny enough the guys who don’t want to invest keep convincing us its a scam

    1. dubai007

      did you receive November profit? me am still waiting i withdraw 1st dec
      thanks

        1. Razz

          Hi, i did not receive my nov profit yet. All they say is its already processed and you can have the funds within 48 to 72 hrs. Ive been having the same statement since 2 weeks ago

          1. Sheryl

            Hi im sorry to say this i have 5 or more friends they told me that almost 3 months they are not receiving their profit even im not involved in it i am worried for them

  34. Brian

    Funny enough the guys who are involved in this Ponzi scheme keep convincing us it is legit and a great investment.

    Sounds like a vested interest to me.

  35. Aber J

    Well said Bryan and Mohamed, Its so obvious that people do so just to self satisfy their mind and pat their own backs. Keeping in mind if they fall they still have company to fall with them and not feel alone.. Its a big wake up call for all, please do your own investigation and be safe or face the trouble which looks like its not to far… Its your hard earned money so get your facts right and diversify your investment rather being stuck and loosing it all.

    1. mohamed

      Guys dont you get it,we have already retrieved our capital specially who started few years ago retrieved his capital few times, your jelousy is just controlling you
      If you dont believe in, then just leave it
      Stop worrying about us

  36. Noor

    Mohamed.

    I am worried about people who invested less than 12 months ago – we still have not received our money back through profits.

    I am also worried about friends who “reinvested” all their profits and have been with EG for years.

    I am also worried about everyone who took the advice of the relationship managers and took out personal loans to become “financially independent” quicker.

    I am especially worried as the company phones are off the hook/busy or turned off.

    I think my friends and I have learnt our lesson the hard way.

    1. mohamed

      For me to make myself more comfortable, I added another two accounts and for three months they made 11,000 USD and I told them I need to withdraw all of them with profits and I got everything back
      Busy or not answering because they got now over 16,000 accounts
      Also for due deligence you should call ministry of trade, central bank of UAE and DIFC which we all have done for months before throwing the money
      Ministry of tradr were clear they said we do not have a record of one scam company has opened in UAE over two years and they have not been caught for suspiscious activity
      However any business is in the world is having a risk factor,
      But after 5 years of the company in UAE its difficult to belive they are just waiting for themselves to get caught
      On the other hand if you studied managed forex trading you will see 1000s of companies operating around the world and all of them making same or even more profits

      1. MM

        Cant help but reply to this comment Mr. Mohamed. You said you called DIFC? really? Exential is not even registered in DIFC. and you said that the ministry of trade said that they dont have any record of one scam? Are you sure? how about MMA? its all over the news. and it took MMA 5 years to operate before it was proven as a scam… Something tells me you are not telling the truth brother.

  37. asim

    Hi guys, the company which i mentioned b4, now its my 6th month with them and its going amazing. Increased my investment and still recovered it within 5 months.
    Returns of more than 15% to 23% can be expected monthly.
    If you are interested and want to diversify your investment please contact me on my whatsapp 00971504967504.

  38. dubai007

    Dear Valued Client’s,

    Greeting’s from Exential Group!

    We at Exential would like to give you an understanding about the controversies that have arisen which refers mainly to Forex companies. We would like to give you a clear understanding on all the false accusations against Exential Group or misunderstandings as to how the forex market operates, that exists in the market. Extracts from the article in “The National” have been mentioned below and following it, is our reply.

    DUBAI // Amateur investors are being targeted by financial conmen offering to double their money in foreign currency exchange trading. In fact, financial experts say the “forex” funds don’t exist: they are Ponzi schemes, in which new investors’ cash is used to pay returns to existing investors, and could collapse at any moment.

    Exential has and is very transparent with their clients as to how the investment operates and how you could verify trades on a daily basis. All licenses and documents are presented to clients during the first meeting to show how legit this investment is.

    Meaning of Amateur investors: An investor who deals in securities but does not do so professionally.

    We have been accused of targeting only cabin crew specially from EMIRATES AIRLINES since its mentioned that they have no clue about forex markets. We at Exential have investors from various sectors like Government organizations, media, professional traders, bankers, hospitality industry, oil and shipping companies, etc, which covers 90% of Exential Clients, so does that mean that all are Amateur investors?

    We don’t think so, would anyone trust their 20k, which is their initial investment without verifying the company operations or legal documents? How can Exential pay profits from new investors?

    For example Exential exist in the UAE for about 6 years and we have number of clients and 99% of the clients initiate withdrawals monthly, we do not open that many accounts in a month to pay clients who exist for 6 years, it’s impossible, therefore legit trading helps us pay clients.

    Exential does not pay commissions to clients to refer business unlike other so called forex companies, who take commissions to refer and pay other clients with their money. We do not see Exential collapsing since we have our experts trading and making sure we make the money for our clients, which can be verified on myfxbook.com.

    “I could probably find 40 in a couple of hours, just in Dubai,” said Sam Instone, chief executive of AES International financial advisers. “If they are allowed to get away with it, these kind of get-rich-quick scams will thrive.

    How can someone say Forex does not exist, when it’s evident everywhere. Forex trading market is the place where a huge volume of capital is involved. Forex exists for smooth functioning of exchange of goods and services between different nations. Forex trading is a worldwide online business. Forex market has a significance role in the world’s economy. There are a lot of international currencies worldwide to trade and to change the currency to pay and get money for goods and services, forex plays very important role. The worldwide payments for traders and investors must be capable, liable and safe, which is possible due to forex market.

    According to Hartley Withers, “Forex is the art and science of International monetary exchange”. Forex exists in all banks across the world. Every bank has a Forex department that functions in lines of transferring funds internationally.

    The foreign exchange market (Forex, FX, or Currency market) is a global decentralized market for the trading of currencies. In terms of volume of trading, it is by far the largest market in the world. The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.

    Exential Group has been in the market for the past six years and has been consistently delivering returns by trading on an online platform provided to us by FCI Markets Inc.

    FCI Markets is one of the most advanced Financial Service Providers in the market. FCI Markets is regulated by the Financial Services Commission of the British Virgin Islands under the license: SIBA/L/13/1042. This article speaks wrong, that the clients’ money is sent to BVI, which is false, it can be proven that all client funds are transferred to bank accounts in U.A.E. and not to B.V.I. FCI Markets Inc. operates in Dubai Al Garhoud.

    Financial Markets offer an opportunity to individuals and Corporates to trade and profit from the daily fluctuations in the prices. FCI Markets INC. provides an online platform to conduct these trades at low transaction costs and at a prices that reflect supply and demand. We facilitate 24 hours real time internet trading through competitive products, giving customer direct access to the global Financial Markets.

    About S & S:

    Sands Brokerage house is presided by the Royal Family of Abu Dhabi H.E. Sheikh Abdulla Zayed Saq Al Nahyan. Started in 2003, S & S has been acting as facilitators and providing license to investors and traders to trade in foreign currencies (Forex), CFD’s (Contract for differences), Financial Derivatives, Commodity Derivatives etc. They are directly licensed with the Central Bank of UAE. It has been clearly mentioned on their license that they cannot accept or manage clients’ accounts as they are the license providers hence they have their own financial arms known as Brokers. This information can be verified on the Central Bank of U.A.E. website.

    “To the poorly informed, they look genuine. It catches out a lot of people. I hear heartbreaking stories from people like teachers who are often targeted.” One fund company, with offices in Dubai Media City, promises a return of 110 per cent on an investment of as little as US$20,000, less than Dh75,000.

    Exential has a broad range of client base coming from various industries. Exential does not cater or target only one segment of the market. No one in the history of Exential existence can speak of heartbreaking stories, as we have a clean history of returning all clients initial investments along with their profits. So we are sure this statement has been confused which is related to the so called companies who don’t even have offices in the UAE and some who have lost money is companies in Dubai, as they have been walking to our offices and asking for help, Exential choose not to name any companies or target anyone but rather work hard to improve our own services.

    “$20,000 for an investment fund like this is particularly low, that is the attraction. Usually the minimum deposit is nearer $100,000, and pays just 7 per cent a year. “Offering 110 per cent a year is phenomenal. It is too good to be true, so I got out quickly.”

    In the above mentioned statement the writer has a misconception on how the banks and the Forex market operates. Forex is a leveraged market and Trillions of dollars are traded every single day. One can open a trading account as low as $500. There are different types of Managed accounts with varying initial investments. I am sure many have tried this greed factored investments in the last 12 months and have got burned too.

    Brett, an investor from New Zealand, closed his accounts because he had doubts about the legitimacy of the company. “I asked key questions like how to view live trades and why it took so long to get the money back once accounts were closed,” he said. “They didn’t answer these basic questions, so I closed my accounts.

    http://www.myfxbook.com sponsored by FxPro is a third party verifier which verifies our trades and our performance on a day to day basis in the forex market. It is a website that gives you a glance at the trading history where each and every trade is verified. A client can view how much profits we generate on every account of USD 20,000. This can be viewed on the “Monthly Analytics” option by selecting from the dropdown the “Profit” option on the website. Based on the Performance fee system we charge 30% to 40% to our clients if we make a certain profit per month. This has been mentioned in the contract that the client agrees to. We have been very transparent to our clients and also our investors. So we guess our New Zealander client has misunderstood the product or could be referring to some other forex company.

    This is the verification website as how you could see Exential Group performing for its clients under the Multi Account Manager (MAM): http://www.myfxbook.com/members/ExentialGroup/exential/1097184

    “Offering 110 % a year is phenomenal. It is too good to be true, so I got out quickly.” Even then, he had his deposit returned only after he threatened to contact regulators. “The fund managers were fine at first and paid back my first account,” he said. “But on my second, the communication broke down.”

    “I heard nothing and after 35 days I was getting worried,” the investor said.

    “I sent them an email and told them I would contact the authorities at Dubai Multi Commodities Centre and within five minutes I had an email and the money was returned the same day. They try to hold on to cash for as long as possible.”

    Exential does not force clients to invest or retain their investments with us. There is a clause in the agreement whereby the clients have a right to close the trading account at any point of time and claim their capital investment of USD 20,000. If the clients are not confident with their investments with Exential, they are free to reconsider their decision of investing. We at Exential do not entertain threats or bad attitude, as we help investors, we have a history of closing clients’ accounts who have threatened the company for whatsoever reasons. So why should we be scared. We do not hold on to cash as long as possible, we try to pay off clients as quick as possible if all is functioning well at the banking end. But we are glad that Mr. bratt got all his money which he was worried about.

    Alina, a former cabin crew member, also invested with the fund, which told her its core business operated from the British Virgin Islands. “Because the money is held in B.V.I. it is easy to freeze and transfer to anywhere in the world,” she said. “This is not regulated and it is not a reliable investment.” She withdrew her investment after reading warnings about the company on an online chat forum for airline staff, but she said many of her colleagues had risked their life savings. “Many are not financially educated, all they see is their friends making money and they want to join in.” Alina was also concerned when the fund manager told her it would take up to a month for her to withdraw her cash if she wanted to close her account. “As soon as you have opened an account and deposited the money, customer services are very difficult to get hold of,” she said.

    As mentioned earlier, FCI Markets are only licensed in the B.V.I. They do operate here in the UAE under the S & S umbrella with funds transferred within UAE by our clients.

    There is a clause in the agreement which educates and has been agreed by the clients about any request received for the “Termination”. It clearly states that the client has the right to terminate the agreement and close the trading account, by giving Tadawul ME 20 working days’ notice period by sending an e-mail to withdrawals@exentialgroup.com specifying the date and reason for termination. Tadawul ME assures your initial investment i.e. USD 20000 and profits available to be transferred to the bank account registered with Tadawul ME, within 20 working days after receipt of your closure request, via email only.

    Twenty working days totals up to approximately a month; (excluding weekends and public holiday). Alina might have received her funds within the timeframe specified in the contract. We wish Alina would make more efforts in talking to us or visit our office to get the right information or read the contract she accepted well before her investment with us.

    William Messruther, group manager at the Continental Group of financial advisers in Abu Dhabi, said some of his clients had asked him to withdraw regular savings to invest in what they believe are forex schemes.

    “This could all disappear tomorrow. No one even knows where their money is going,” he said. “It is not a case of if they will collapse, but when. Some people know the risks but are still happy to invest. It is dangerous. The bottom line is people are greedy.”

    Exential Group has always educated our clients on what mode of transfer is accepted. The clients are therefore aware that cash deposits are not accepted, instead they are requested to transfer the funds from their personal bank account to any of our bank accounts. So here the client knows and proof is given as to where the money is gone. No one would risk their life savings for greed.

    To operate legally, fund managers must be licensed by the Emirates Security and Commodities Authority and the Central Bank. Legitimate websites will clearly state the name of the regulator that oversees their work, and details of their commercial registration and trade license.

    Our licenses (Exential Mideast Commercial Brokers LLC/ Tadawul ME/ Exential Mideast Investment LLC/ FCI Markets Inc./ S&S Brokerage House) have been provided to our clients/investors upon request. Clients could further view whether S&S Brokerage House is legitimate and verify the same on the Central Bank of UAE website.

    Having read the article, we conclude that the writer has a very limited knowledge about FOREX markets and how it operates and secondly he has not done his homework well on Exential, and has rightly picked statements from forums, discussed by people who have no identity. When the writer had mentioned his email id on a forum saying he was doing a study on forex scams in the UAE, some of our clients met the writer to know more about his thoughts and in turn spoke about their good experience with Exential and how legit this business is. But seems like the writer had made up his mind to target Exential with false statements. Exential group always mentioned saying we do not want to be a part of any forums but would prefer people walking up to our office and get their doubts cleared. We will definitely visit National office to educate them on this business and investment. There are almost 2-3 so called Forex companies within the UAE, who are discussed on various forums and chat rooms, most of the companies have lost money while trading for many clients, and not returned the initial amount of investment as well, which can be proven and spoken by our clients and friends who have bad experiences with them. Whereas Exential has a history of giving back the entire investment along with the profits to all clients, when requested, and has a clean history and that’s why we do not get surprised why we are targeted on such meaningless forums and chat groups on social networks.

    The article published in “The National” is based on experiences of only 3 clients and we have more than 3 clients who has visited the journalist and given a good word about exential which the journalist chooses not to publish. It is in the best interest of clients who have any further concerns or queries you are free to contact us or visit our office and be rest assured that you will be assisted.

    We are in the process of taking Legal action in due course of time towards this matter and make sure that we preserve our Rights and Credibility!

    We definitely do not claim this article towards or against Exential or state that The National has written about us, if it was directly directed to us our name would have been mentioned. Above we have explained as to why this article could not be related to us as we do not operate in the manner mentioned by the National and we will visit The National to explain about the way we operate.

    Coming soon!!

    Message directly from the Directors desk.

    Newsletter January 2016

    Thanks and regards

    Exential group

    1. asim

      Thankyou to the management of exentialgroup for posting and clarifying matters for many of the people out there who have zero onowledge about the forex world and also for those who keep bad mouthing.
      Its a great pleasure for me to be associated with such a great institute.

    2. MM

      Good job exential. copy pasting definition of “foreign exchange market” directly from wikipedia.

  39. Chris

    BVI regulation provides no security as it is offshore. Why would you not want to trade through a regulated broker either in Dubai or London?

    You operate from Dubai and therefore need to be regulated and are not so you are breaking the law.

    Why would you trade with someone who is a criminal (regardless of if this is a ponzi scheme or not) as they are clearly untrustworthy.

    Are you happy for your clients to come and visit your offices?

    The returns on fxbook are not outstanding given the account is clearly over leveraged as you can see by the wild P&L swings and drawdowns.

    Clearly the experienced traders are not experienced in risk management.

    Regards,

    Bank Trader

  40. Ibrahim Adam

    I’ve been with them for more than 2 years. I made over 100% profit in each year and my capital is still there!! so what the hell people are talking about?!! you can say whatever you want but the fact remains is that I made 200% profit in just 2 years my USD 20K became USD 60K This is the un-doubtable fact

    I can challenge anyone on that :)

  41. DEEP

    “ASIM” is talking about UTmarkets.com and they don’t have office in UAE or Uk, they are based in Bulgaria. If you are interested whatsapp me on +971567046196. Minimum investment 10K USD and maximum 50K USD. Profit 18.5% to 24% per month. Interested in investing whatsapp me on +971567046196

    1. asim

      Wow. Deep you are so smart. Guyz they give 5% commission for referring people thats. obviously deep wants a share of it. But profit is from min. 13% upto 25% and maximum investment can be any amount. I had been with them for 6 months now. Deep you like to copy, its ok. Again guys whatsapp me on 00971504967504.

  42. G

    I am very nervous because I still haven’t received the November profits from EG until now and have been told that I will receive the withdrawal in a weeks time for the past month.

    1. Ibrahim

      Ive got mine last week.. My wife got hers two days back

    1. mohamed

      I withdraw my three account got them with profits no problems,
      still also did not got my december profits

      regards

      1. zamae

        hi there mohamed.

        was it easy withdrawing your 3 accounts? we are thinking of withdrawing ours too, just worried might take long as the same as the profits being delayed for quite sometime already.

        1. mohamed

          I had 6 accounts, I have withdrawn three it took sometime was not that fast more than a month , I heard some people are having more delays in withdrawing their account almost two months and did not receive their capital yet

          1. zamae

            withdrawn ours this morning. hope they will refund fast. fingers crossed.

    2. Brenden

      They still have not paid NOV profit to many of us. Account closures seem impossible. Excuse after excuse.

    3. Mauro

      I requested the closure of my account more than 2 months ago.
      about 45 working days have passed.
      no money. no reply from EG customer service.
      their agent is answering my phone calls and messages but there is no real information that makes sense.
      cheers

      1. mohamed

        gents

        if anyone wanna open a case or let the authorities now then go ahead rather than pushing others to do so,
        I do not understand whats the purpose of adding fuel to the fire, if you want to be patient then stay patient if you dont want then go ahead and stalk them with a lawyer
        the purpose of that forum is to discuss points

  43. Dxb101

    It’s blatantly obvious that you’re all being paid to say this.

  44. mohamed

    looks like there is lots of cheap talks here,
    kindly if you dont believe it then leave it , I guess we said before, do not waste our time

  45. Dxb101

    Exactly – “we” and “our”. Funny how all your replies come at the same time. I think you’re all probably the same person. I have spoken to around 30 people in the last 2 days, not one single person has received November profits – what are the odds of ALL of them being in the “25%” that haven’t been paid yet? A brief look at all of your message history shows that you’re all pumpers. Exential is now partnered with FC prime markets au…guess who is the director of that company, the same as Exential haha! What a joke

  46. lilliput

    https://connectonline.asic.gov.au

    Name: FC PRIME MARKETS AU PTY LTD
    ACN: 609 813 229
    ABN: 17 609 813 229 (External Link)
    Registration date: 14/12/2015
    Next review date: 14/12/2016
    Former name(s): FC PRIME AU MARKETS PTY. LTD.
    Status: Registered
    Type: Australian Proprietary Company, Limited By Shares
    Locality of registered office: FRANKSTON VIC 3199
    Regulator: Australian Securities & Investments Commission

    EXENTIAL HAS BEEN OPERATING FOR 5 YEARS AND FC PRIME IS REGULATED BY THE AUSTRALIAN GOVERNMENT. ANYONE HERE HAS NOT BEEN PAID BY EXENTIAL UPON WITHDRAWING THE ACCOUNT?

    1. GREG

      All those fanboys out there talking about how FC Prime Markets is legitimate and standalone, giving the air of legitimacy to Exentials Actions… Please note the following…

      Sydney Lemos is a ‘director’ at Exential as seen in recent emails to exential clients…. I suggest you go to google and type in his name. What I found is this http://www.dnaindia.com/sport/report-isl-2015-fc-goa-announces-fc-prime-markets-as-principal-sponsor-2131124

      So reading through that article he is a ‘Chairman’ of Australian based Forex Brokerage FCI Markets. ‘Whatever!!’ you fan boys think, we arent dealing with FCI Markets but FC Prime Brokers, two separate companies with a coincidental name. Well if you numbnuts conduct some due diligence, if your run FCI Markets australian business number, then you will clearly see that FCI Markets used to be called FC Prime Markets….

      So aside from the massive conflict of interest, having essentially the same controlling interest over both Exential and FC Prime Markets, you all sit there and think that Exentials Results here are verified correct??

      Not worried yet?? Well FCI Markets (formally FC Prime Markets) own an MT4 server licence, which means any data they want can be manipulated however they want…

      So let me spell it out for you – Sydney Lemos has a direct and controlling interest in both Exential and FCI Markets (FC Prime Markets)… You really think there isnt something go on in the backend??

    2. zamae

      hello lilliput. we have withdrawn our accounts yesterday. according to the agreement at least 20 days notice. fingers crossed our money will be realeased in due time.

    3. Medz

      Dear Liliput,

      I terminate my account at Exential last January 13,2016 and I supposed to received my capital last February 10,2016 after 20 working days but still until now I didn’t have the capital in my account.

      Maybe you can help me to make the withdrawal fast and be on my account immediately.

      1. zamae

        @Medz please whatsapp me 0509626129, i need someone like you because for sure mine will take long too.

    4. Mauro

      yes. me. requested withdrawal of the account at the beginning of the year. 45 working days ago.
      no money, lots of excuses.
      some friend of mine got his money back in 25 working days having requested the account closure only four or five days before I did.
      I’m starting to believe I’m the first of the “lucky” ones who will never see their money again….

      regards

  47. Brenden

    If you are reading this thread, it means you are worried. Worried you should be.

    Exential shows all the signs of a Ponzi. Like all Ponzi’s everything is fine as long as new money is coming in.

    As you have noticed since September there appears to have been cash flow issues. Since that time many clients have tried – some successfully – to withdrawn their initial deposits. Many are still battling unsuccessfully to get their initial deposits returned.

    The problem is there does not seem to be enough money to even pay out the monthly „profits” let alone return the initial deposits to customers asking for account closure.

    History has shown that the last phase of Ponzi schemes is usually desperate attempts to limit any money flowing out. It typically follows these steps:

    1. PR – disputing any negative comments online. Issuing propaganda newsletters/emails to reassure legitimacy. Championing support and claiming massive growth, promising to be around for a long time, new partnerships etc.

    2. Increasing the withdrawal/transfer fees. This means less money leaving, as they keep a larger proportion. It also encourages customers to keep their money longer and withdraw less often.

    2. Limiting the amount of people who can withdraw at any one time.

    RM: Sorry, unfortunately you were not 1 of the first 25% to request a withdraw….please try again later…….

    3. Introducing additional procedures/hurdles to withdraw funds and initial deposits to buy time.

    Client: I am still waiting for my withdrawal, it has been over a month?
    RM: There is a new procedure, we tried contacting you to fill in the withdrawal forms for which a mail was sent out requesting for the same.
    Client: It has now been 2 months I filled in the new withdrawal form, still no money.
    RM: Sorry we could not process the request. You signed the withdrawal form in black ink, our procedure states „blue” ink.
    RM: Please try again.

    4. Threatening to take away this fantastic opportunity at a better life and financial freedom.

    RM: If you request to close your account you will be banned from ever investing with us again.

    5. FINALLY, the dummy/showhome myFXBook account will show a massive loss (again) but this time it will not be miraculously recapitalized as has been the case when there were losses to date.

    RM: Unfortunately our magic system failed due to the turbulent markets. You have lost all your money so there is nothing to return. You knew the risks: High reward, high risk etc etc…

    Do not let greed cloud your judgment. Do not believe everything the salesmen (RM)/con men tell you – it is their job. The more contact you have with the RM the more likely he will manipulate you to stay invested, and they will keep your money.

    Beware of people with a vested interest – anyone with them a longtime will say anything to keep the money coming in, and to reduce the rate of account closures. People at the top of the pyramid have nothing to lose but only gain the longer this scheme is around.

    You know who they are with comments such as:

    „ignore the negativity…:) „

    „If exential clients will listen to the negative comments of non investors, they will go nowhere! High risk High profit! „

    „Exential has been good to me.”

    Fxfoxo “i have been with them since their beginning and i know the money will come”

    For good reason, ALL legitimate investments carry the following disclaimer – think about it:

    „You should not rely on any past performance as a guarantee of future investment performance. Past performance is not a reliable indicator of future results and investors may not recover the full amount invested. „

    To everyone who seems to feel safe, wrongly believing Exential is regulated by ASIC. Here is what the Australian regulator warns: >>

    Link to ASIC http://tinyurl.com/z9bujzc

    The only facts and proof that people involved in the scheme had was they were paying out.
    THIS HAS NOW STOPPED. November, so called profits have still not been paid.

    It is probably too late, but everyone I know is desperately trying to close their accounts. Exential cannot pay profit and as expected is also delaying the closure of accounts – Surprise, surprise. Good Luck

  48. xyz

    Have anyone went over their to see how money been generated or anybody saw back office where trading is been done. they are registered with whom, DIFC,DGCX,SCA who..?? if the company runs away will u guys will go to london to take money with them…its a bluff pozi scheme. dont be greedy this market can sopil things.
    b safe on investment side so u can have a sound sleep in night.
    we offer 7-8% yearly on dollars fixed returns. And a big company in market registered with DGCX and SCA.
    for details call 0507693248.

  49. xyz

    the best thing is to trade by yourself book less profit with registered broker company where your capital can be guaranteed and can be withdrawn the time you require within 24 hours.
    We are authorized brokers and clearing persons.
    we also offer 7-8% but yearly not monthly with fix returns and capital surety.
    for more contact 0507693248.

  50. Razz

    I did not receive my nov profit yet. All they say is its already processed and you can have the funds within 48 to 72 hrs. Ive been having the same statement since 2 weeks ago

        1. Falcon

          dubai007

          good point on Kaka.. advertisement for competing firm.

  51. xyz

    No profit is going to get transferred as its a Ponzi scheme clients will stop investment and they will stop sending profit. Better withdraw your money. Invest safely with good brokers like SMC less percentage but surety.

  52. Falcon

    Just more fodder for the debate:
    Date: Tuesday, January 19, 2016
    Subject: From the Director’s Desk!
    To:

    Dear Valuable Clients,
    Firstly I would like to take this opportunity to wish one and all a Happy and prosperous New Year’ 2016.
    I personally feel that this year holds a lot of promises for the Exential family in terms of Global growth, as we move our focus towards targeting the European, Asian and South American markets.
    In today’s 5.3 trillion dollar market, research has shown that the so called competitors in the past are still struggling to show their legitimacy in the FOREX market. Exential, on the other hand, have added another feather to its cap and is happy to announce its partnership with FC Prime Markets AU Pty Ltd who are regulated with one of the top three regulators in the world – Australian Securities and Investment Commission (ASIC).
    Like our other trading partners FC Prime is operating in UAE under the supreme umbrella of S&S Brokerage House (Regulated by the Central Bank of UAE). This step has been taken keeping in mind the growing demand for being regulated and working with licensed brokers.
    FC Prime Markets AU Pty Ltd, will soon be opening a Bank account in the U.A.E. to help facilitate fast and smooth banking transactions.
    We take pride in completing six successful years in the U.A.E. I am glad that over this period we have helped our clients have an additional source of income, assisted them in realizing their dreams of giving better life styles to their families, a better level of education to their children and better level of health facilities to their dear ones at home.
    It is our belief and understanding that if a client withdraws every month it feels GOOD to know that they are getting regular returns on their investment. And moreover, it gives clients a sense of security that the recovery of the principle amount invested is maintained.
    Over the last couple of years we have grown rapidly and we have more clients investing with Exential Group. As a result, the number of withdrawals have increased over a period of time. We believe that a strong banking partner is of utmost importance to support a fast growing company. This has been a major concern for us and this has indeed jeopardized our future growth.
    We are also working and have narrowed down on a few banks in UAE who are willing to associate with us as Banking Partners. This will be a turning point for Exential Group as we never had an Official Banking Partner. These Banks will also issue co-branded debit cards to our client’s to enhance the withdrawal experience.
    We sincerely apologize for the inconvenience caused due to these delays in getting your profits transferred to your bank accounts as per your requests. We are working day and night since December 2015 to ensure that the withdrawals have not stopped in any way even though they are limited every day.
    The situation now looks a lot under control as we have managed to process 75% of the pending withdrawals and are working equally hard towards getting the backlog processed as well.
    Due to the current delays in the process, we are very sorry and regret to inform you that for the pending December 2015 withdrawals there might be a further delay. So I humbly request you to be calm and do not panic as we are working round the clock to have this organized. One thing that I can assure you is that, “There can be a delay but every single client who has requested for a withdrawal(s) will surely get it”. We are confident that during our six years of existence in the U.A.E. there was never an incident where any of our client’s walked into our office and claimed that they have lost their money invested with Exential Group neither was there an incident where our clients never got paid.
    We do understand that clients have liabilities, commitments and other anticipated financial planning based on their profits. But you also need to understand that banking is beyond our control and all we can do from our end is do regular follow up’s to make sure that our job done.
    We really appreciate and we salute those clients who have shown great patience in understanding the situation and the issues we have been facing.
    Your patience is our greatest support!
    On behalf of my Office Staff, Client Relations Team and my Relationship Managers I take this opportunity to apologize for the communication gap during this period. Due to the limited number of telephone lines, a lot of our clients were unable to get their queries resolved or addressed in a timely manner. As a result of which our clients did not receive the required information or reassurance that was required during this phase. To overcome this we are setting up a dedicated call center only to answer queries and attend to our clients in every way possible.
    We at Exential feel that Education about FOREX is very significant and plays a very important role in this growing and competitive market. To educate investors, non-investors and create awareness about FOREX, we are happy to announce that Exential along with its partners will organize seminars and group meetings very soon. This will help clients to understand FOREX as a product and the limitless opportunities it holds. These seminars and meetings will help educate and identify the risks involved and what measures are taken to minimize them.
    We look forward for your opinions and suggestions to help make this journey with Exential Group a memorable one and an experience worth remembering. We continue to strive towards maintaining our vision in Exential; “To help every individual earn a little extra income other than their regular source”
    Thanking You,
    Sydney A Lemos
    Director – Exential Group

  53. Dxb101

    Exential is also manipulating and deleting posts through their myfxbook page. Anything that doesn’t look good, gets deleted immediately.

  54. sam

    its all a crap load of lecture, ask this fellow sydney to pay back investors every penny he owes, it might be too late as he has siphoned off to buy ferrari and live a 7 star life in Goa.

    1. Razz

      My nov profit is still pending…did anyone filed a case against exential?

    2. dubai007

      by 3rd week of feb we should start receiving Dec profit .they are looking to clear off the entire backlog of nov in this week

    3. sara

      Who are you EG troll. You lied that you got your ‘profit, on 21st jan in comments above. Or are you lying now? zero credibility you or should i say Mohamed, ibraham, dxb007 or whatever other nick you use to lure new $.

      We all now know the truth, we have read the papers and are waiting for our money back.

      Shame on you for encouraging this fraud.

      1. dubai007

        no i get my nov profit on 12 jan. i not lying go back and check my comments above and im still waiting for dec. yesterday my relationship manager text me saying, by 3rd week of feb we should start receiving dec profit. because they are looking to clear off the entire backlog of nov by this week.

        1. razz

          EG’s customer service & my RM are consistent with that statement “to clear the Nov profit within this week” since 3 weeks ago.

  55. Lilliput

    WHY WOULD YOU FILE A CASE WHEN U CAN JUST WITHDRAW UR INVESTMENT? ITS USELESS. Just withdraw all ur money.

    1. Sara

      Who are you EG troll?

      You lied that you got your ‘profit, on 21st Jan in comments above. Or did you lie on the 8th of Feb “I just received my Nov profit”?

      ……Zero credibility, go back to the rock you came from. Or better still pay us all back!

      If we are still waiting and they cannot pay only $1500 owed since NOV plus $1500 from Dec, what do you think the chances of everyone getting their $20000 back…….hahahahah

      Many colleagues and I attempting to get their $20000. Obviously unsuccessfully….hence our frustration

      “Its coming….next week promise…..”

      Yeah right!

      Funny how all the problems started with the announcement of sponsorship of FC GOA – at least we know where our money went. Did you all know that Sydney is the owner of both Exential/Tadawul and FC Markets Australia???

      How will anyone ever trust you again?? FC markets was supposed to show customers that you are legit.. you being the same owner has had the opposite effect.

      Surprised? Lies always come out into the open.

      Please for your own sake, do not put anymore money into this Ponzi! Join us ALL trying to get our money back to pay off our loans.

      And Lilliput, stop using ALL CAPITALS….
      …….we get your point and can read between the lines – you obviously want to profit from new victims, or you work for EG.

  56. mohamed

    Dear Gents

    anyone coming to the seminar on 13th of FEB, let all raise their point directly to EG and we need to hear their replies

  57. mohamed

    Jumeirah Creekside Hotel, Sheikh Rashid Road, Al Garhoud, Dubai- UAE. The seminar will commence at 6 p.m. and end at 9 p.m

  58. Lilliput

    IT IS NOT OUR FAULT THAT WE ALREADY GOT OUR NOV PROFIT..IS IT WRONG TO SHARE OUR EXPERIENCE? OR U WANT EVERYBODY HERE TO CLAIM THAT THEY DIDNT RECEIVE THE NOVEMBER PROFIT..IF U DIDNT GET YOURS THEN SORRY FOR U..

  59. Epiphany

    I got my November profit on 4th January after a lot of complaints. Withdrawal was initiated on 26th November. I got my December profit on Thursday last week, also after a lot of follow up. I have already closed my accounts. Waiting to see if I will get my money back plus Jan profit. I heard only about fifty people attended the seminar. Did anyone here attend.

  60. angryBird

    Epiphany, I am in a similar situation, my personal plans are seriously affected by these delays, and I am very worried if I will be able to receive my investment on time (I requested closure on Feb, 1st, 2016), and still waiting for December profits and Jan respectively… This whole is so unacceptable… Latest update from my line manager is that the company cannot state a deadline for processing the withdrawals or the investments. I’m seriously worried. I wasn’t able to attend the seminar unfortunately because I was out of the country. Anyone who’s been please share information.

  61. angryBird

    those of you who believe that reporting a crime in the form of Breach of Trust with the Dubai Police regarding the above mentioned issues with this company, please share an opinion?

  62. B is for baloney

    I was previously involved with this scheme and I am sure glad I pulled out earlier this year.

    I heard from a friend who attended the seminar that there were a number of frustrated clients present. Many were unsatisfied with answers received like, there’s a 25 million USD transfer limit in their account, so with the 300 or so withdrawal requests, they cannot accomodate paying out the amounts due.

    Simple math says:

    18000 clients x 20K USD x 7% monthly profit = 25.2M USD in approximate monthly profits which is conveniently their stated monthly limit

    300 clients pulling out x 20kUSD = 6M USD total to be paid out to withdrawals – 24% of the limit.

    How come there are more people with delayed payment issues than those who were paid their November/December profits when 76% of the monthly limit is still available? Simple logic says that only 1 out of 4 accounts should have pending profit payments if the reason is indeed the stated limits.

    Then comes another excuse about a suspicious investment from Lebanon causing the freeze of their funds? B for baloney. Didn’t they say that the banking shift to Australia was for improving their payout service? Well guess what? It is much worse than ever.

  63. Confused.com

    As the name suggests, I was told by a friend about the possible investment opportunity with this company. I’m doing a lot of research and found this article, the article presents many pros and cons. I’m trying to piece together an idea about the company at whether to invest $20,000 as I am sceptical, as anyone would be. A guarantee 100% return, too good to be true. On one note it is my understanding any successful well established business/company would offer a career no?. When I go on EG website there is no mention? Or even offer a career advice page in Forex?! Or am I missing the point. I will keep an eye out and have book marked this page!

  64. B is for baloney

    @Epiphany, yes I got them. I just realized that I made a typo, I withdrew early last year – still felt like it’s 2015 lol

  65. bruce

    FYI

    ” Good morning All. I’ve been following this thread for a while now as I am one of those people involved in this “scheme”. Although I’ve still not yet invested my money in EG, I was approached by one of their RM as I was really willing to invest with them. However, before signing the contract, I’ve decided to send an email to DFSA asking them to verify whether or not EG is regulated or not, and this was their answer:

    Dear Mr. *****

    The Dubai Financial Services Authority (DFSA) acknowledges receipt of your complaint.

    The DFSA is the independent regulator of all financial and ancillary services conducted through the Dubai International Financial Centre (DIFC), a purpose-built free-zone of 110 acres, located in Dubai. Accordingly we have jurisdiction only in respect of conduct:

    •involving Authorised Firms, Authorised Individuals, Auditors, Designated Non-Financial Businesses or Professions, Authorised Market Institutions, Reporting Entities and Funds;

    •resulting in contraventions of laws or rules administered by the DFSA;

    •causing, or which may cause, damage to the reputation of the DIFC or the financial services industry in the DIFC and/or may prejudice the DFSA’s ability to meet its objectives.

    The DFSA has assessed your complaint and following our assessment the DFSA can confirm that the Exential Groupand/or TadawulME are not regulated by the DFSA and are not located in the DIFC. The DFSA is therefore unable to take further action as we do not have jurisdiction over Exential Group and/or TadawulME.

    A list of regulated firms is available on the DFSA’s public register which can be accessed at http://www.dfsa.ae/PublicReqister/Default.aspx . A client directory of the companies operating in the DIFC can be accessed athttp://www.difc.ae/browse-directory .

    The regulation of financial services outside the DIFC (including in the city of Dubai) falls within the jurisdiction of:

    •The Central Bank, for firms providing banking services;

    Telephone: ]+971 2 665 2220; Facsimile: ]+971 2 665 2504; URL: http://www.centralbank.ae.

    •The Emirates Securities and Commodities Authority (ESCA), for firms offering securities;

    Telephone: +971 2 627 7888; Facsimile: +971 2 627 4600; URL: http://www.sca.ae.

    •The Dubai Police, for firms engaging in criminal conduct; URL: http://www.alameen.ae/en/onlineform/default.aspx; or

    •The Economic Crimes Combating Department of the Dubai Police at Telephone: +971 4 203 6341.

    Accordingly, you may wish to forward your concerns to the Central Bank, ESCA and/or the Dubai Police for consideration.

    Further, Google searches conducted online of Exential Group provides links to adverse information that appears to implicate Exential Group as part of a scam. The DFSA does notconfirm or verify the validity of such information. However, we suggest you contact one of the above authorities or seek further legal and/or financial advice before considering opening an investment account with Exential Group.

    We hope the above information is useful to you.

    Yours sincerely

    DFSA Complaints”

  66. Unhappy customer

    Im still waiting for my withdrawal requested in the beginning of January. I have this account for almost 2 years. I’m very disappointed with all this delay

    1. xyz

      In this kind of trading delay is quite usual. I always prefer my clients to trade on their own so they can learn also and can get some knowledge of market. We also do fund management but in secure manner by arbitrage.
      Hopefully you will get your amount soon.
      Rajiv
      0507693248

    1. Kaka

      two Months for wire out. They don’t want to give withdrawals

    2. zamae

      hey there jack. we finally closed our accounts last week. we haven’t received any profit since we opend our accounts last december. we weren’t aware that the pending of profit started november, if i know i shouldn’t have gambled. fringers crossed we can have our money back.

  67. Epiphany

    Has anyone lodged a formal complaint with the Dubai Police?

    1. mohamed

      No because there isn’t one proof so far that they have scammed anyone rather than just delays,

        1. B is for baloney

          Exential is probably the last company that terrorists would want to put their money in, with looooong delays in profit and capital withdrawals. 😉

          1. mohamed

            yeah right, but I guess its other way around,
            because they put their money , there is now delays and problems

  68. mohamed

    Gents

    how many is closing his account, it feels everyone has requested account closure, and since two months nobody is able to get his capital, please share your info

    regards

      1. zamae

        has anyone here withdrawn capital and hasn’t received it yet? please share your experience.

        1. B is for baloney

          I don’t think so. From what I hear, the threat of reporting them to the police, still works very well.

          Ponzi schemes will not default on their profit payments until the time that they will run. The moment that the default is reported, it’s already too late.

          1. zamae

            B is for baloney, thanks for the info. i am hoping it is not too late for me.

  69. mohamed

    @B is for baloney a small non-logic behind your comment, ponzi scheme require referral so you can go below the referred one, have they asked you for referral, or how is it working?

    1. B is for baloney

      Hi Mohamed,

      The perceived “non-logic” you are referring to might be a confusion in definition between “pyramid schemes” and “ponzi schemes”.

      Let us use below definition of a “ponzi scheme” from “Investopedia” as reference:

      A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. This scam actually yields the promised returns to earlier investors, as long as there are more new investors. These schemes usually collapse on themselves when the new investments stop.

      I was an ex-participant of this scheme, and I have an idea on how they grow the pool. They don’t need to ask you for referrals (although if you were involved back in 2012-Tadawulme days, they did encourage referrals by waiving some amounts off the profit withdrawal costs) because the current so-called “investors” inadvertently do so by spreading the scheme with co-workers and relatives.

      Did you notice that profit payments get delayed when people are pulling out? This happened last September and during the last couple of months. Ofcourse they cited different reasons for this (banking issues, lebanon-related stuff), but it is quite a coincidence that they have difficulty paying out during times when people are pulling out their cash.

  70. mohamed

    I believe its just a kind of own analysis , because I do not think that in UAE the central bank and the ministry of trade got a company doing a ponzi scheme from your own analysis and they dont know for the last 5 years, its gonna be some of kind of joke
    so to my knowledge all companies has tried to get into ponzi in UAE has been caught in a short period of time, unless you have not been living in UAE that may be your own analysis,
    I trust the system so far that they wont allow such a scam happening for the last 5 years and they do not get to know it, if you got some kind of a proof why haven’t you files a complaint so far, or others did ?

    1. MM

      Uae (or any country) is not ponzi proof.

      mma forex was established between 2006-07 (as part of mma group). they stopped paying out by oct 2012. by december 2012, they called for a meeting for all investors. they explained that they have banking issues and they are finalizing an agreement with a huge bank in order to sort out the issue. in the next ten months, some claimed to have received their money but majority have not received anything. so by sept 2013, investors finally decided to file a complaint with dubai police. dubai authorities acted promptly so by end of oct 2013, a verdict was handed. guilty.

      these facts are easily “googable”. but i know this because i was one of the duped investors. mma was even advertised on the radio during those days, making it sound more legit :)

      the same pattern is happening with exential.
      tick-tock.

    2. B is for baloney

      I have previous experience getting duped by ponzis. And in all of them, you only get the proof after they ran away with your money. Do yourself a favor and don’t get caught with your pants down on this one.

      Like MM mentioned, this happened a few times before, think MMA Forex and Sunfeast. Both times, the companies were only proven guilty AFTER they ran away with the people’s money.

  71. mohamed

    if you are so smart , why the heck have you put yourself for the second time with Exential, sound really funny unless you like getting caught with your pants down every time
    its a matter of a month and we will know whats going one anyway
    if anyone requested his capital and passed more than a month please share your info

    1. B is for baloney

      Not claiming to be smart, but experienced. Experience is a good (if not the best) teacher.

      I hope you appreciate that people are sharing their knowledge here so you no longer need to make the same mistakes. Ever heard of the term “re-inventing the wheel”? It’s been done, no need to go through the whole thing all over again.

      What I don’t understand is why just focus on capital recovery? Proof of failed capital recovery only becomes definite when a ponzi scheme fails. Even after that, there’s a judicial option called a “clawback” wherein the court orders participants who profited in the scheme to pay the profits back in order to compensate those who had losses.

      How about profit withdrawals? Aren’t the scheme participants entitled to getting their profits within the specified number of days? Each day past specified period in the contract is a violation of the contract and a cause of alarm. What makes this different from a missed loan or housing payment? This is alarming.

      1. mohamed

        so what is preventing us from raising a court case based on the proof you mentioned of breaching the contract

        1. B is for baloney

          A bad combination of Ignorance, greed and denial. One relative still has his December payout pending. I asked why he isn’t doing anything about it he said that there are many others like him who have pending payments, let them complain. SMH

          Other friends, who are also skeptical of Exential but still keep their money inside, don’t care because they made their capital back several times over and they believe that they should milk the scheme for as long as possible before it gets busted. Complaining to the authorities will probably result in the end of the scheme.

          Another colleague who took a loan to participate no longer talks to us regarding the issues. She says she wants to keep the bad vibes out and wants to think positive. She’s willing to accept all the far-fetched bs they use to justify payment delays without question.

    2. B is for baloney

      And I will be honest, I lost money on scams twice previously. Luckily, I was more vigilant and heeded the warning signs with Exential that’s why I was able to get out before things started getting ugly.

      And believe-it-or-not, it’s not the threat of losing my capital that made me quit (I already recovered my capital then), it was my guilty conscience. The realization that no one (except Exential owners) really knows what my money funds didn’t let me sleep well at night. I will have no part in any scheme unless I am 100% sure that it doesn’t engage in unethical business. Hey, I know I’m not a saint, but I try to be a good guy whenever I could.

  72. Angry_bird

    I requested cancellation of accounts in feb until now there’s nothing we’re all asked to wAit till end of April, I doubt it leads to anything good..
    I hear some people on random basis get profits for December but nothing with me and nobody wants to say anything :-/

    1. zamae

      @Angry_bird, why it take so long wherein in the signed agreement it will take only 20 working days. this is not good.

  73. mohamed

    we are talking about our problems and some guys wanna use the forum for advertising, guess what no body will ever invest in forex again after that bad experience, even if everyone got his capital back ,so relax

  74. KecyInvestor

    I closed my accounts in January, not received my capital yet, I guess they used investors money to sponsor FC Goa.

    1. Razz

      Maybe the money was exhausted when sydney bought a ferrari as seen in his fb profile updated 16Dec

    2. zamae

      @KecyInvestor, that they told you about your capital? my RM is not taking our calls and answering our emails. we closed our accounts too.

      1. KecyInvestor

        The last time I spoke to My RM(Which was in Feb.) he said they were experiencing delays due to bank restriction…but they are not answering my call now or replying my Emails.

        1. zamae

          oh well, they are just busy maybe. i want my capital i don’t care of the profit, i haven’t received any since we opened our accounts.

  75. asim

    If exential wants to disappear with our money then they can just make losses in the account or even go anywhere without our knowledge.
    In fore, investments are never insured, but still they guarantee our initial investment.
    I just met one of my colleague who told me that he received funds for 2 of his accounts 3 weeks back which he closed in january. So guys have little patience and wait for the dates mentioned by sidney. Its just ridiculous that guyz out there keep going with this negativity. They have already mentioned about delays due to some bank issues, so please relax and let others also relax.
    Your negative comments are not helping you or anyone else. If it was useful then i would definitely be part of it

  76. SilentSpectator

    Don’t forget that all comments, both positive and negative, help potential newcomers to make proper decisions.

    It would certainly help to know If a company’s lagging behind profit payment before one jumps in. Times are rough. One simply can’t afford to be careless with his/her money.

  77. Amo

    @MM In the case of MMA after the police took over. Did investors get back their money?

    1. MM

      Not really sure as I did not pursue filing a case as my loss was tolerable. The fact that the CEO of MMA was jailed was enough for me. Also, as per advice of my lawyer, it is futile to go after the owner of MMA (Malik Awan) as he is known to lavishly throw parties to everyone, buy ferraris, and sponsor cricket matches. ( again, same pattern here. check Lemos FB account. his cover page is a ferrari and EG is sponsoring FC Goa). But I think the clawback procedure (recovering the amount from the assets of MMA and from those who benefited from the scheme) is on going for those who pursue the case.

      But I remember I’ve read in the newspaper before that one victim’s father died because he could not send his father to the hospital since his savings is with MMA. Others just went back to their home country because they could no longer pay the loan (which they invested in MMA). These are just some of the heartbreaking stories. Thats why I hope that the “investors” will ask EG to clear their name properly. Ask them Common sense questions (not even technical), like “why is it the exential does not have any advertisement”, or “why are they registered in a media freezone. They should be in DIFC or at least directly with Central bank since they are offering investments”, “why cant I see any profile of any trader of exential in linkedin. majority are relationship managers (no finance controller, no accountant, no fund manager, etc.)”, or why do they even bother getting individual clients, they can simply go to the big corporations or banks to offer their scheme”. In this difficult time, companies net earnings may not even reach 50% per year. Yet, EG can offer 7-10% per month.

  78. Amo

    Thanks MM
    Am worried about the honesty of EG. They sent email detailing a payment plan to clear the said back log…that Jan profs will be paid btn March 15 and April 15. I think this is just buying time with our money as they plan to exit. The plan excluded Dec profits which have not received. Has any one gotten Dec profits or am alone? Have numerous accounts, and am worried have not recovered capital.

    1. MM

      whats the agreement on the number of days for the withdrawal of profits? for capital its 20 days right? if they have breached the number of days, why not try to threaten them? i read in other forums that this might work.

    2. zamae

      HEY MM. have you got the new details of EG about the capital and profit restructure?

  79. KecyInvestor

    Woe unto us!…,A friend of mine said he went to check his capital and was told that the contracts have been amended and he would not receive all his capital since he had already recovered it through the monthly profit…Asim,could you please confirm with the company if this is true? Not that I do not believe my friend but you seem very positive about the company.(this would help calm us down…guys if you are on their Facebook page could you please check to see if this has been posted.was blocked from the page.

    Second if they amend the contract does it affect those who closed accounts in January?anyone who knows a good lawyer????!!!!!.

    1. John LLoyd

      Hi KecyInvestor… Yesit is true that the Initial Investment is amended from 20K to 25K usd, in which they will get the additional 5K from Jan,Feb and March profit. And they are promising a 2.5K guaranteed profit every month. So there will be no profit disbursement to happen for the last 3 months. This really sucks as I called my RM and ask regarding my money for closing the account, this his response ” You can amend your closure and re-invest your money to us for 25K and you will have a profit of 2.5K / month. I asked him how about the close account when can it be disburse? It will be given after 3 more months….. This is not a good sign anymore!!! Please share if you know how to process the withdrawal of our money Fast.

      1. KecyInvestor

        So where is the Honest and integrity that they keep rubbing on our faces?????!!!! How do you amend a contract that does not exist..if I closed my account and you send me a confirmation of having received my close out request ..we are done….They can’t go back and say 2 months later that they have amended the contract..there is no contract between me and the company.
        Well guys have gone to central bank and there is no bank restriction from them….but who do you report to if that is all they say….can’t they atleast investigate?

        1. B is for baloney

          Perhaps a lawyer can give you good advice on this.

  80. zamae

    Anyone here who closed their account starting January 2016 needs to retain the capital as per the amendment that EG will issue soon. Therefore we have to wait for December 2016 to get our capitals back.

    1. B is for baloney

      But a contract and amendments to the said contracts would require the signature/approval of involved parties. Let’s say Exential makes those amendments, it will not be valid unless the second party (investor) agrees and signs the amendment.

      Everyone be careful when they ask you to sign new papers. You have a right to say no to the amendment since it is terribly one-sided.

    2. MM

      @ Zamae – I pity you Zamae. You just joined in December 2015, and now you have to wait til December 2016 to get your capital back.

      But regardless of the reasons of EG for the delay (which are really rubbish), they are bound to honor their agreement with you, and that is to pay you within 20 working days. This agreement is in writing right? Why not try to go to the Dubai Media City Freezone Authority and tell them that they have a company registered with them that does not honor a payment. If this does not work, then just go to the nearest police station to seek advice. Dubai police are generally helpful (especially if you tell them that the amount they owe you is USD20K.)

      1. mohamed

        Dear gents

        I just finished a meetin in EG, as mentioned they account closure will be by 31 Dec 2016, and they mentioned something new, that they will upgrade everyone by force to be 25K capital instead of 20K capital so lets say you have three accounts and you have 15K profits backlog consider it gone as it will be added to your 3 accounts,
        The excuse they said that they take advantage of the delay to upgrade ppl ( dunno which upgrade)
        And they said the profits may reach to 5000 with the new accounts
        Your comments please on this

        1. B is for baloney

          Did they show you this in writing? Did they ask you to sound anything?

          Contract amendments cannot and should not be done by force. They have to get your consent. Otherwise, they just robbed you. Take care mate.

        2. MM

          Bottomline, they dont want to release any funds. and as what Mr. Baloney said, they cant do this without your consent. The 20 days agreement is the written agreement where you have put your consent. Force them to honor this or take legal action.

  81. mohamed

    Dear Gents

    Yes you are right they cannot force anyone but you will be forced by yourself why?
    Because they mentioned thar they will only allow account closure by Dec end and the contract with them is for one year so they mentioned if you raised a court case you are forced to stay till year end so the question is will u wait till year end or you will be forced tp continue investment and also you will be forced to add 5k for each account on your capital they just played a game to force everyone to donate 5K on every account to clear the backlog without paying a penny, smart ha?

    1. KecyInvestor

      Hi Mohamed,

      Where is this Mentioned in the contract? That the only time one can close account is December 2016.

  82. KecyInvestor

    Lets say they force people to open a 25k account generating a 2.5k a month, How are they going to pay the profits since they cant afford to pay the 1700 every month. And does their new amended contract cover the client when they have delays? So the timeline they gave was just to give buy time.
    A friend received the below email they have been very busy this few week.

    Greetings of the day!
    Recently due to banking restrictions there has been a delay in the processing of the withdrawals.
    As a new feature in our endeavor to improve the individual customer service experience, we have welcomed the contribution of many of our clients who have provided us with their valuable feedback. We at Exential have welcomed suggestions from our clients and have taken into consideration many of these suggestions that were passed directly to us or within the Facebook channel we support.
    We have been working on numerous plans to speed up the process of clearing the delays. The management has agreed to utilize every suggestion we received from our valued clients and implement it, if proven beneficial for both parties.

    We have decided to honor a suggestion given to us by our client(s) wherein instead of waiting for the profit payout which has been delayed, you could utilize the accumulated profits to open another account in order to earn maximum benefits on your profits.

    In addition, please note your account(s) should have accumulated at least a profit of—— and above. The remaining balance up to ———- will be funded to help assist you in opening a new account. In addition, the Annual Maintenance fee will be $250.00 instead of $500.00 for the current year as an additional compensation from our side.
    Further note, you will not be able to place another withdrawal request until the time we have recovered the deficit amount funded by Exential.
    Please review this proposal that outlines our action plan and intended deliverables which is meant for the benefit of our clients and we look forward to discussing this proposal with you.

    Thank you
    Internal Transfers

    Office : + 971 42766055
    Email: internaltransfers@exentialgroup.com

  83. Richard

    BYE BYE $.

    Greed gets us all in the end. For the few that managed to get their money back, congrats – you stole money from people who “invested/gambled” after you did. Probably based on your advise/experience. I know a group of pilots that are trying to clawback your profits to pay off people who have lost money. Beware.

    The majority planning their retirement based on ‘expected’ returns – too bad. Pay off your loans and count your losses. Stay away from similar schemes – esp UT markets.

    This was always too good to be true.

    Those in denial, this is and has always been a scam!

    Report it and there might still be still to salvage some $, before they disappear totally – you will never receive all your capital back, but something is better than nothing. You have nothing too lose, the earlier you fight back the better.

    The longer you wait the closer to zero or minus you get.

    For all those investing in a similar ponzi scheme via whatsapp – UT markets – you are crazy!!! Not regulated, no brokerage account, no documentation and an official FCA warning. OMG

    Learn from others mistakes. There is no free money.

    UT are also not closing accounts – more pain on the way. There is a FCA warning regarding UT markets – it is also a scam!

    Do not take you colleagues word/friends advice – google is your friend. Google FX Ponzi.

    The writing is on the wall for Exential clients. Those in UT markets might still have a couple of weeks to withdraw their capital. Do not wait, UT clients receive a commission on recruiting you and taking your hard earned money. Ever wonder why?

    If you do not have a separate brokerage account you control, then BEWARE. You sign a POA that the manged fund can trade on your account – be sure you have a separate account you can access, control and withdraw from at anytime – if not it is defn a scam.

    You have been warned. Do not get duped again.

  84. Jeff

    What is the best way to practically get the money back? No matter how many times I’ve threatened with legal action, police and even threatened them – nothing has happened

    Any advice?

    1. zamae

      hi Jeff. have you closed your accounts with them? when?

      1. Jeff

        Yes, I closed the account at the end of Jan

        No confirmation as to what’s happening, why it’s late, or when I’ll receive it

        I can’t get through to any of the team (who can give answers). When I do get through they say someone will call back, which rarely do. When someone did call back, they said banking delays means it’ll be delayed, but no confirmation as to when.

        Any ideas or suggestions to increase the pressure for them to pay?

        Thanks

        1. B is for baloney

          I’m sure if you visit the office with Police in tow, there will be abundance of action.

          After you threatened with legal action, did you consult a lawyer or the police? That would be a good first step.

        2. B is for baloney

          They are probably reading this forum and realized that people are threatening to report them in order to get quick payouts. And they know that no one really goes through with the threat.

        3. zamae

          Hey jeff, please do in touch with me through whatsapp please. 0509626129

        4. mohamed

          Dear Gents

          just a quick info everyone who closed his account , EG did not do anything the account is still active all they have done that they just blocked your access to your account I have asked them to return back my accounts I discovered that the account has never been closed since two months
          so I do not think who closed his account reached anywhere with that

          1. B is for baloney

            What do they think they’re doing?

            So there’s really no intention of giving back investor capital.

  85. Angry_bird

    How did you get to know your account was still active? Dear Lord… :(

    1. mohamed

      I just mentioned when they returned back my user I found the trading was been working all that time for the last two month so there was no any account closed

  86. Hope_1

    Hi Zamae,

    I am a friend of Asim and I have following on most of ur comments in this forum.
    I had also closed one of my accounts in 01st week of Feb. I got my account reactivate as per the new strategy.
    I have got all my funds in my account (duration when my account was closed).
    I think we should give them one last chance as they are working hard to come back on track. This is the best strategy where everyone is going to benefit, as there are a lot of clients closing their accounts directly affecting exential’s business. I can see they are not runnin anywhere, all we need is patience especially you Zamae.

    I was with MMA forex and we did the same, we filed cases with the police which resulted in office closure. I remember the MMA ceo was pleading to give them one chance to recover the losses they made and to come back on track. But they had very poor management and no proper back up plan, no proper assurance for the clients. Thus him going to jail and clients getting nothing till date.

    My only humble request is to pls support the company during this hard time and to cooperate with them coz taking legal action won’t get anyone their money at this point as everyone is thinking of the same.

    Regards

    1. TiKtAk

      Someone is pleading.. common guys have mercy to ZAMAE..she/he have not experienced getting even the first profit of the investment. It sounds like someone is desperate to maximize on what they could still get while EG is out there.

      Question is.. IF EG has given you an option would you roll on your profit? It seems that is the best option for you as you know to yourself that EG is obviously leaving you no choice.

      by the the way..it looks like you Agreed that EG is like MMA with your comment that once reported to police or authorities it will end everything…

    2. MM

      @Hope_1 – cant believe you indirectly said that EG is like MMA. I was also with MMA and in case you forgot, MMA was PROVEN as a PONZI. We have not received anything even up to now (3 years after the verdict), do you really believe that if we had given them a chance, they would be able to return our money?!? And Even after MMA, you still invested in EG. You must be one of the “opportunist” who is always on the top of the food chain, and convincing those who are at the bottom to “give them a chance” in order for you to recover more.

      For those who are in doubt, and thinking of giving them a chance, meaning you have to wait til December 2016 to know if that chance will actually translate to actual cash on hand. And what if by December 2016, they will also come up with the same “Back up plan” to roll over the profit, and say that no withdrawal til December 2017? Another chance?

      What we are trying to insinuate here is that you have a 20 days contract. Let them honor it, or else, let them suffer the legal consequences.

  87. KecyInvestor

    HOPE_1
    So where is the proper assurance for Exential clients?So is forcing people to Re-invest a proper back up plan?

    Exential days are number,they are pushing clients to the wall but believe me and i promise you this…the day is coming when most client will feel they have nothing to lose and they will take this guys down ..watch this space coz i see the 2.5k a month has already gotten into your head.

    1. asim

      Wow! all emotional comments. Looks like some people here are either invesment managers who want to bring these forex businesses down by posting negative comments cuz nobody’s investing with them or some of us have either become ponzi or pyramid scheme encyclopedias, with full knowledge of how all these games are played.
      Threats, police and lawyers talks are quite attractive. Guys do you seriously think by doing all this we will get our money back immediately. Exential will get the shivers and everyone of us will start getting our profits or initial investment back.
      Its very understandable that we people as investors are worried but posting non-factual negative comments dont help anyone. Now if anyone thinks that many of us will be attracted with 2.5k returns, as a matter of fact why not, because in the 1st place we only invested as we got attracted to 1.7k to 1.8k returns.
      So instead of being a threatening or scary monster, which is not assisting anyone here, my humble request to everyone out there, have a bit more patience and dont try to be a hero for only yourself, let exential start paying us the profit from april onwards. And wishing everyone all the best.

      1. SilentSpectator

        Since you seem confident that you are talking about facts, let’s do an analysis:

        Exential has been delinquent in paying out = fact
        Exential will increase your capital to 25k = fiction and will not become a fact until you get that 25k in your hands.

        Why don’t you want to help Exential turn fiction into fact by giving you back the amounts that they claim are yours?

        Nobody has to threaten anybody if all parties are fulfilling their end of the bargain. When signing a contract both parties understand that the reason for doing so is to have the law reinforce the agreement.

        Exential is lucky to have a client like you Asim, someone who’s willing to ignore all the red flags and swallow whatever bs they promise. They fool you once, shame on them but more than that, shame on you. Again and again Exential has failed to meet promises made to clients on payout and capital withdrawal dates. Their promises no longer hold any weight.

        1. asim

          Again, my advice wait and c this month what happens. Most of us are being childish here and thinking that exential group would take any decision without taking legal advice or understanding what repercussions they would face.
          In my opinion they are fully aware of our frustrations, but many of us only think one sided which is (give my money back) and thats it.
          (As a business, exential can face any problems but its not my problem because i signed a contract with them and they should abide by it, even no matter the whole world comes to an end. Its not my problem.
          Just give me MY money back, no matter if others get their money or not, i dont care.Exential agreed to the terms mentioned in the contract, so if tomorrow if they make a profit of even 1 per cent less, they are breaching the contract and i want my money back).
          Guyz exential is only saying, from next month they will start paying out the profits. Its only a matter of few days. We all have waited so long then why not wait a few more days.
          And when im talking about facts, it means did anyone ever check with westpac regarding the issue. Surely someone here must have some contacts to get the details regarding the delays.
          The only talk we get here is breach of contract. Seriously guyz where we are making almost 8-9% per month in todays world, let both the parties keep doing a favour to each other please.
          Now

          1. B is for baloney

            Asim,

            I don’t remember anything in the contract guaranteeing profit amounts. If they make X% profits or Y% losses, there will be no breach of contract. There are only two ways I could see that they can violate the contract, and both are being done now.

            I hope you don’t let the profit rate cloud your judgment. 8-9% monthly growth on capital for 5 years (straight without losses) is too good to be true especially if their myfxbook graph says otherwise.

            In the end, if you want to wait, it is better to wait vigilant. The possibility that you are dealing with a scam is very high, although I would be happy if they are not. But the important thing is that you watch their every move, and try to limit the ways that they can run away with your hard-earned/unearned money. And how do you do that when they’ve stone-walled all previous requests for transparency? Ask help from authorities. They have more resources at their disposal. They have more chances to verify the excuses with Westpac, with Lebanon and with the US Federal reserve bank. You’re not going to ask them to send anyone to prison, you just want to ensure that you are being told the truth.

  88. Andrew

    Asim – Extra time does not solve anything.

    Repost from a facebook post I just found:

    ……..Any forex trading requires a brokerage account – it is like a bank account. It should be opened in your name and you should always have a brokerage account number and full time access to your account/money.

    A POA is signed allowing a managed fund operator to access and trade on this account. A POA does not give full control of the account to the fund manger – you should have access and be able to withdraw? Why does no one have a separate brokerage account and access to it?

    It does not make any sense that more time will assist.

    Forex is traded in seconds and minutes. Bought and sold very quickly by automated signals. This means that you do not hold any currency for a long time. This is not like the stock market where you hold a position for many months or years. Trades are executed in quick succession and that is how profits are made.

    Your money should not be „locked in” the market but returned to your brokerage account, ideally at the end of each trading day.

    Implying they just need more time does not cut it. If your money is locked in a currency it means a wrong decision was made and selling it would mean losing money. Every experienced forex trader has a stop loss present, which automatically sells a currency/closes a trade if it declines by a certain percentage. If you have a high „drawndown” on your account it means that you have actually lost a lot of money, and did not have a stop loss. As any experienced trader will tell you a high drawndown is a hail Mary, you pray that losses will be reversed – this strategy never ends well. It actually points to a very inexperienced strategy, manged by amateurs.

    If we accept the reason of non payment due to a „Bank freeze” this means money is frozen in some account. This in turn means it is blocked and CANNOT be traded. If this money is frozen how can funds be invested in Forex, and how can they continue to pay profit?……….

    I was stupidly involved in a similar scheme. Lots of empty promises until one day they showed a massive forex loss, apologised that our money was lost trading and reiterated that trading currency is risky and we were informed of the risk when we signed up.
    Time is not your friend, quite the opposite.

    1. asim

      Please check with fenixcb based in dubai, whose broker is registered with DIFC and they follow the same protocol like exential.
      Also check axitrader, who again have the same procedure like exential and the best part is they are fully registered in dubai, uk and australia.
      Now properly registered companies are doing what EG is doing, so whoever is posting these infos on facebook needs to do more homework.
      Im not very knowledgeable in all these matters but i will again say i know alot of people who did close their account and also received their funds quite recently, but unfortunately majority of the people are thinking its a scam going on.
      My suggestion wait for sydney’s next post and then carry on from there onward.

      1. MM

        nope. i beg to disagree. im not sure about fenixcb but im quite sure that axitrader is not the same as EG. axitrader provides you the platform for you to trade YOURSELF. you can see your trades, do it yourself and they even have the mobile app so that you can do it anywhere. axitrader earns on the spread that it charges you on your trading. axitrader is the same as S&S. EG on the other hand, obtain funds and uses the platform (as claimed) of S&S to trade. axitrader & S&S are brokers. EG is synonymous to a fund manager. axitrader is regulated by FCA of UK. S&S is regulated by central bank of uae. EG is not and is only registered to a media freezone (dont know why). now whether your money is actually going thru S&S’ platform is another story.

        1. omardxb

          @MM. I would want to add that S&S is not a broker, they are only a financial intermediary, therefore S&S and axitrader are not similar legal entities.

      2. omardxb

        fenixcb??? you must be kidding asim!!!! fenix just opened their shop a year ago. Of course they are trying to do what EG is doing. You definitely are making a pretty good comparison, as EG and Fenix pretty much share the same vision, although I doubt if Fenix has any idea about EG’s real operations.

      3. B is for baloney

        Did a quick check on Fenixcb and the following dissimilarities to Exential stood out:

        -Segregated accounts opened in the client’s name
        -Complete transparency and control of the funds with view-only access to trading account
        -Immediate profit withdrawal (3 working days)
        -No lock-in period

        Disclaimer: I am not promoting nor advertising this company, I just wanted to verify things for myself.

  89. DubFx

    Thanks for the input Andrew, please try to read more about forex hedging and see if stoploss is a good idea when it comes to that strategy.

  90. Andrew

    EG has always claimed their strategy is Scalping. Scalping relies on effective stop losses.

    Scalping is a trading style specializing in taking profits on small price changes, generally soon after a trade has been entered and has become profitable. It requires a trader to have a strict exit strategy because one large loss could eliminate the many small gains that the trader has worked to obtain.
    …….Investopedia

  91. Brian

    Article in the UAE National Newspaper yesterday:

    Investors tell of worry as bogus Dubai ‘ponzi scheme’ payouts dry up

    March 19, 2016

    DUBAI // The net is tightening around rogue investment schemes in Dubai that have been milking hundreds of thousands of dirhams out of low-income workers who were duped with promises of big returns.

    Investors who have pumped tens of thousands of US dollars into such “Ponzi” schemes claimed they were facing financial ruin and have reported matters to Dubai courts.

    Financial advisers aired concerns in an article in The National in January following a growing demand for investments in foreign exchange funds they said were offering profits that were too good to be true.

    That is proving to be the case, with investors claiming that they are owed thousands and that have not been paid since November.

    Bogus traders lured investors with the promise of 110 per cent returns on foreign exchange markets, but are suspected of simply redistributing funds from new investors – a Ponzi scheme.

    Jennifer, a 26-year-old Filipina who works for a cleaning company in Dubai, invested US$50,000 (Dh183,647) – almost 20 times her monthly wage.

    With three of her friends, they invested $25,000 each with one investment group in Dubai in May last year, while she alone invested another $25,000 elsewhere. “For the first five months, they paid out after 15 working days and were never late,” she said.

    “After November, things slowed down and we stopped getting paid. We had a relationship manager who said a problem with international banking was causing delays.

    “I invested my savings and, like my friends, I’ve taken a bank loan to invest this money.”

    Net profits each month would range from between $1,700 and $2,100 and were achieved by trading in foreign currencies, according to the relationship managers.

    Investors could not view live trading information, but were given retrospective access to trading performance.

    One investor said: “I started my investment with my broker in Media City in April last year. Money was good and trades and profits were conservative until December and January.

    “They have a policy in our written agreement that states that when you initiate your withdrawal on the first of the month, you will receive the transfer after 15 working days.

    “For two months in a row, they failed to fulfil this policy, and I have started to doubt their credibility. They said the delay would either be the holidays either here in UAE and where their bank is in Australia, or because of banking limitations.”

    Financial advisers said that the scams have been widespread for years in Dubai and that investors risked losing everything should the funding for the schemes collapse.

    Those found breaking the law can be hit with a three-year jail term and fines of up to Dh30,000.

    One company advertising services as a foreign currency trader does supply documents to interested investors and a Department of Economic Development licence is clearly displayed on its literature. This allows it to trade in investment in commercial enterprises and management, but the company has no licence to perform as a trader.

    Other documents showed phone numbers that were either out of service or went unanswered.

    The UAE bans anyone from opening companies without a licence, but rogue operators continue to break the law, according to Yousef Al Bahar, a lawyer from Al Bahar and Associates who said investors were targeted on social media.

    “Customers have to ask about the company with authorities to double-check their licence and what activities they are authorised to carry out.

    “Customers who are scammed must report these companies to police and submit evidence.”

    Dubai Police said that such complaints should be addressed to the anti-economic crimes department on 800 800243, or email: cdi.cideconcrimes@dubai.gov.ae.

    http://www.thenational.ae/uae/investors-tell-of-worry-as-bogus-dubai-ponzi-scheme-payouts-dry-up

    1. Angry_bird

      Tried calling the number unfortunately it is not in service.
      I guess directly calling the police or going to the police for filing a case would do a better job. I’m on my way there tomorrow morning.

  92. KecyInvestor

    Thanks Brian and to the National for directing us to the right Authorities.

  93. Richard

    Also sent a complaint to cdi.cideconcrimes@dubai.gov.ae.

    We have a remote chance of getting something back at least.

    The longer you wait the less chance of retaining your capital. Good luck everyone. Stay away from get rich quick/ponzi schemes. A small percentage profit – the majority lose out. Do not be the next victim….

    1. KecyInvestor

      Was wondering why it had failed two times was just about to call the national.
      Thanks again Richard.

  94. Angry_bird

    I also sent a complaint and did not receive a returned message perhaps your email is too big in size?
    Try to keep it within 5MB.
    It looks like mine went through.
    I’m going to legal advice tomorrow as well including the police. These guys change terms of contracts like a game! Yesterday -20 days, today -6 months, tomorrow you will wake up to your money gone forever. Don’t wait. Seize this filthy trash and don’t let any of these fishy indians buy you with offers for more money! You just get more of bulshit !!!

  95. Super human

    You guys are your own worst enemy ! You think if you file a case they are just going to hand over a briefcase full of cash. Instead, all accounts will be frozen for months, trading will stop, nobody will get paid, they will go bankrupt and we will all lose our money all because some people can’t handle a wait! Is this what you are trying to achieve ? Luckily for us who are still investors and still in it for the long haul, they are covered legally to amend the contract with regards to capital release and I’m sure they can afford the best legal team money can buy! Our money is safe and the patient ones will soon reap the rewards of our patience!

    1. SilentSpectator

      Super human: I think you just described what’s currently happening with Exential. Accounts frozen, trading not really happening(except for the dummy account), nobody getting paid, going bankrupt because withdrawals are now greater than deposits and people will likely kose money because this is probably a ponzi scheme.

      At least with the authorities watching, they’ll have more difficulty running away with the people’s money. There’s nothing to lose anymore since the moment they stopped paying out.

    2. TiKtAk

      Inevstors are just simply asking the return of capital or profit. EG has not experienced any lost in its entire operation which simply means they have the money intact. So why they are still waiting to be sued? Just give back the capital or distribute the profit and that would be it. Ah I forget..they have banking issues..

      Probably, court order would find a way to resolve their banking issues to disbursed capital/profit in UAE at the very least if banking issue is true…

  96. Angry_bird

    Everybody to their own! People hve different reasons to request their own money to be returned within stipulated terms! Failure to do so means something very fishy. if there is fear of losing your money because of informing the authorities, well then it’s deinitely fishy!

    1. SilentSpectator

      Where’s the like button? I need to like this comment.

    2. Super Human

      It doesn’t mean something fishy necessarily, it just means that any company under investigation, with accounts frozen will have a tough time to remain above water. Legitimate or not. Therefore some investors fear might be justified!

      1. MM

        You contradict yourself buddy. You believe they are legit, and yet you fear that their account might be frozen during investigation and that they may have tough time to remain above water? I believe that you also smell something, you just dont know that its a fish smell :) Get out of the denial stage and just look at the logic. If they are legit, they wouldnt have problems in defending themselves, thus, their account will not be frozen for long. Oh, actually, if they are legit, they would not have problems in fulfilling their contractual obligations in the first place. :)

  97. Angry_bird

    And this is why such companies must make sure the terms of contracts are kept! Such enforced re-investments of capital are just the last drop in the cup. Nobody has ever been bold to stand out and show some real evidence that this whole will work. Empty promises and nothing else.
    Let the authorities do what they’re ment to – give justice.

    1. KecyInvestor

      I seriously do not believe why people like super Human would believe that EG is paying out.We heard the bank issue was resolved in Feb but they gave another excuse that the reason why they are not paying the monthly profit was because they were paying people who had closed the account.

      when those who closed the account ask for the money…well it’s because they need to priotise them that are still client.They gave a timeline from March 15 to start paying,But wait a Minute!they just knew that was a promise they could not fulfill…so they sat in their meeting and thought the only way to get away with this is give them a bigger carrot….Just played on people’s greed and oh how it worked !!!!but wait a minute what will happen if we can’t start paying by April 15th.
      Dear Valued client’s
      Greetings from Exential!
      You all know our competitors have been busy and incited some clients to go to the police,please bear with us as the investigation is on-going and we can’t send profits as promised.

  98. The Equalizer

    Gentlemen

    what superhuman said might be correct.All banks have recently tightened their rules regarding money transfers incoming and outgoing from any account.What does it mean?If you periodically receive/send money to or from your account no matter if you are an individual or a company the bank will be asked by the central authority the reason for that.If you do not provide them the information they need they will freeze your account till the investigation will be over.It is in the money laundry rule that we all tick before making a money transfer.If this company sends every month thousands of bucks everywhere in the world including nations not really on the so called “good guys “side then an issue might arise.If all of you panic and start asking for money back do you think is going to work?If they got their accounts already frozen due to the above reason do you think that asking more money is going to help?
    honestly i do not work for them,is it a scam?Maybe!But if you planned your life based on an income which you can’t control well that’s another story.
    just my 2 cents

    1. B is for baloney

      It will work if they are really trading currencies because they have the money somewhere. It may be delayed, but eventually they will pay up.

      Now if they are a scam and don’t have the money anywhere, that’s another thing. At least they’ll get busted sooner and there will be less victims.

  99. Angry_bird

    Okay, question- why would a company of such reputation and good practices allow their accounts to be frozen?! Hehehe leave the answer to yourself. If these same accounts are frozen due to incorrect or missing transfer purposes then well, that’s a massive display of unprofessional attitude towards business. Back to the good reputation and practice??? Hahaha no excuses!

  100. Lost

    Hey Angry Bird, Did u file that complaint? Did anything com of it?

  101. MADELYN P. CENA

    Thanks God! I received my Capital last December 2015 for 1 month processing only….
    Good luck Guys!

  102. Dream Bubbles

    Sitting here laughing, as to how this whole thread developed and some people STILL believe they will see money?!
    It is crystal clear that this whole EG thing was a scam to start off with, but people’s greed…. creates blindness in some cases.
    Just google Sydney Lemos, for such a “high profile” personality, apart from FC Goa there’s nothing on the net, no pictures either.
    Doubt this guy even exists. Time to cut your losses and say goodbye to your hard earned money…..

  103. Super Human

    Bubbles , keep on thinking that!
    Im laughing just as hard as people like you that are trying to discredit this company and il be enjoying my profit even more next month knowing people like you wont.

    1. SilentSpectator

      It’s been 3 months since people last enjoyed their profits… Many can’t even enjoy the capital that they rightfully own.

  104. Legal Advisor

    Hi All,

    This is my first comment on this site for Exential – and for me this is completely scam – and people who are fighting for there hard money just for you guys- you should all file criminal case against them bez-

    1. Being a llc in Dubai you cannot take money from clients
    2. People who give cheque by the name of FCI brokers they can file case aganist them.
    3. Publish your stories in local news paper like Gulfnews and seek there help.
    4. Don’t be fool again and put your money again

    1. mohamed

      Its funny when the company starts to fix the delay that negative ppl come and start pouring fuel again,

      We don’t need your negative comments everyone has already created an idea what he is going to do

      1. atthetruth

        Exactly, its funny how all these “so called” legal advisors are now jumping on the scene to give ” legal advice”. The problems have been sorted and we will be getting our profits soon enough!

  105. TheFighter

    I’m in process of filing a case with dubai police and taking it further with dubai public persecution. If it a scam no one should enjoy our hard earned money. For the sake of all those who lost their life savings and to stop any future scams, all should consider legal advice and take it further with authorities. But before that you all should get good translator and translate all your documents into Arabic as police and courts will ask for translated docs.

    Good luck

    1. atthetruth

      Nobody has lost their life savings or in fact any money! FACT!
      There has only been a few months delay of profit payouts while the company has restructured!
      Just because there is a delay does not make an investment a scam, so why are throwing the word around if you dont have solid proof.
      Good luck file and enjoy filing your ignorant case with the courts and I look forward to hearing in 9 months time how you got your capital back but spent most of it on legal fess!
      In the meantime, from April onwards, the rest of us will be earning handsome profits.

    2. Weird_O

      Pls whatsapp me 0567899485. I would like to know more about what you did! Thank you!

    3. atthetruth

      So we have 1 review from a disgruntled ex employee who got fired, how surprising he has an axe to grind by writing a bad review!
      Give me a break..

  106. TheFighter

    atthetruth. All the best and I really wish u see April profits. I didn’t seek legal actions for fun. Only did it after many ignored calls and when visiting their office to see my RM I was sent up and down between floors O and 7 to be only told that 20 days is to be extended to 6 months and have to sign their notice contract. Really wish if you can visit their offices to see what I mean. By the way, if you fancy visiting management team they are located on ground floor away from upset investors. Please do let us know if you get any profits in April.

    1. B is for Baloney

      It is possible to get April profits. How?

      1) put all capital witdrawals on hold till next year
      2) collect new unsuspecting victims’ money
      3) distribute funds collected from unsuspecting victims as profits
      4) spread the word that profit payment has resumed to normalcy
      5) more unsuspecting victims sign-up
      6) the scam lives on

      Remember that scams only survive as long as there’s a healthy supply of victims that will exceed the number of withdrawals. If withdrawals are not honored, like what’s currently happening, the scam can go on as normal.

      Don’t be an accomplice not a victim and secure your money. If Exential lives on despite everyone RECIEVING their capital back, then they prove themselves not to be a scam. Otherwise, they are.

      1. mohamed

        Looks like the forum itself has attracted scammers and spams, if you don’t believe in it why have you invested in the first place, and if you think you have done a mistake Then do your homework because we will not do it for you
        Otherwise we heard enough of priceless talks and legal actions being taken only on forums

  107. Legal Advisor

    Guys who are giving comments in favor of Exential (doubts for them) or they are stupid –

    Exential – Mr. Syxxxxx
    FCI Market – Mr. Alpexxxxx
    I Must say good game played by them –

    Just open your eyes and take example from this- they breach there contract and people who is going to fight or ask for there capital there Relationship Managers are telling “yes sir we understand no problem you go and do case” just imagine how much they are confident that no one can do anything-

    I agree they offer to put money back and get your profit from April but this is sure? Is there any written proof?
    And Of course if they give in written would they follow?

    I am not putting any fuel just think all of you who invest in Exential
    1. Can you get your capital?
    2. Ok if you get profit which is equal to your capital but why you took it in installment? What is the sense to invest here?

  108. Legal Advisor

    And Mohammed – doing comments on any forum is very easy and you ask for legal action then my friend who will spend 10000-12000 for lawyer of course no one because people who invest here they are normal salary base who save or took loan from bank for better future –

    I have no interest in this forum because I am not Exential client so Leaving this forum-
    I am also just small salary person working for Financial company and was planing to invest

  109. KecyInvestor

    Has anyone tried to do some research on this S&S Brokerage House? I have been trying but there is nothing on the Google just keep saying they are updating their website.
    I have come to Accept that I might lose all my money and I need to prepare my self mentally for the loan payment.I just found one review on S&S brokerage .I know I might be categorized as the Negative ones by the EG team but the Handwriting is on the wall.
    https://www.glassdoor.com/Reviews/S-and-S-Brokerage-House-Reviews-E895786.htm

    1. atthetruth

      So we have 1 review from a disgruntled ex employee who got fired, how surprising he has an axe to grind by writing a bad review!
      Give me a break..

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