It's a CONFIRMED scam company, recover your stolen funds by clicking the button below, then fill out the form and you will get a FREE Mychargeback consultation today:
Metaverse Foreign Exchange is a Crypto trading platform that also doubles up as an MLM. Our mtfe.ca review exposes some of the red flags found on the platform operated by Masud Al Islam.
Apart from hiring actors to act as CEO of the project, what we have is a ridiculous crypto arbitrage program. Those who have invested in the platform were enraged after a planned upgrade saw them lose hundreds of dollars.
There’s more to it, it turns out that Masud Al Islam is another MLM serial scammer for years. He has been in the crypto game and now plans to go legit with his Dubai counterparts. Will trading on the platform or investing in the crypto products be a profitable outcome?
Chances are, there’s no way of withdrawing funds from this platform. Traders are kept from withdrawing the entire sum available. And this is not a character you would expect from any trading entity.
Withdrawals are a mundane aspect of trading and investors have all the right to withdraw the available sum in totality. That’s not the case with Metaverse Foreign Exchange. Our MTFE review will highlight the discrepancies of signing up with this platform.
Make sure to go over our Metaverse Foreign Exchange review to find out some of the more considerable ways of trading in the crypto world.
You might be led to believe Islam comes from Saudi Arabia, far from it. Masud is a Bangladesh national and is hiding in Dubai after warrants of arrest were issues in Canada. His claims of ties in Canada led the Canadian authorities to issue the arrest.
For years, he has managed to create such MLM products and services only to disappear after putting them down. With a few Canadians losing funds with the most previous product, action was taken to issue an arrest.
In 2020, Masud was the CEO of another MLM Scheme dubbed MyShopExpress. He claims the store was providing products and services that would catapult your sales. And that’s not all, he claims to have the ability to bring in new business for a fee.
If you search MyShopExpress in Bangladesh, no results will pop up. We are not sure whether the LinkedIn information was factual or he just made up the company. The fact is, he has also put down any such website related to him.
We already know his M.O and suspect Metaverse Foreign Exchange will also be the same. Have investors buy in and once sign ups start to diminish and withdrawal request start piling, he shuts down the entire project.
To conduct a successful MLM scam, Masud usually hires some of the best influencers. He starts by hiring an actor to act as the CEO of the project. Knowing that Canadians and Europeans will be more receptive to a fellow man, he kick starts the campaign.
In this case, he went with Boris, a known scammer who has been cited in other MLM scams before. For a fee, Boris will say or do anything to make the platform appear legit and successful in the eyes of investors.
Another key ally of Masud is Alex Reinhardt. These two were the lead sales people on the now defunct PlatinCoin scheme. The coin project began to collapse in mid-2022 which coincides with Masud Facebook posts of having another project, MTFE.
Before the PlatinCoin project, Masud was in the clear with the PLC Ultima project, another Ponzi scheme which led to his warrant of arrest in the UK. To steer clear of trouble and regulators, he now uses Chinese domains to get around the web without a trace.
Here’s how Masud plans to operate under the Metaverse Foreign Exchange project. Once you sign up, chances of withdrawing funds are only possible once or twice. And the amount has to be low enough to leave a substantial account balance.
He starts by claiming you can even earn bonuses and commissions as an affiliate as the bot makes guarantee profit on trading. There are different levels of affiliates depending on the number of investors you bring in.
The lowest commission earned by members is 15 percent after bringing in 15 investors for the first level. 50 percent commission for the 9th level with commission set at 12,000USDT after bringing in 50 users.
That’s a huge incentive that drives investors to bring in their family and friends.
The first members get to withdraw part of their initial deposit which Masud claims is the daily guaranteed profit margins. Once these clients withdraw daily profit margins, it creates a notion the platform is indeed genuine.
Masud will then raise the stakes and claim you can even earn more by depositing a large chunk of funds. And this is where investors make the mistake of depositing a larger sum hoping to earn more.
Meanwhile, Masud and his team are busy doing the same the second batch of investors. When the first batch demands to withdraw a larger sum, he starts throwing reasons for not getting your funds.
These include account balance minimum withdrawal threshold which he raises above your current balance. After lining his pockets with your funds, he will claim there will be a scheduled maintenance.
During this maintenance, he shuts down the entire project and moves on the next one. And that’s how current investors have lost funds with the platform.
Those who went through the funnel program of Metaverse Foreign Exchange know for a fact the platform is a scam. And these investors have turned to social media to share their grievances of what they term as outright fraud.
Manuel claims that he has a balance of $1,245 and is now left with a negative balance of -$992 after one of the scheduled maintenance. Its clear customers are losing assets suddenly thanks to the system set-up.
And worse still, Masud will write to you with a claim you have to pay all debts and repay the quoted negative balance to the exchange. With no reason as to why there’s a negative balance, investors move on without a word.
Authorities need to step in and finally arrest Masud who has had no previous run INS with the law. With a warrant of arrest issues in two jurisdictions, we suspect Masud will stay in Dubai until the end of times.
From where we stand and the past actions of Masud regarding his products and services. We have to insist on exercising caution with the platform. We have a platform that fails to live up to its billing.
There are features you need to check before signing up on any platform including accountability and transparency. Is the platform licensed by any regulator? If not, then there’s no oversight to protect investors from unfair trading practices.
Make sure to do some due diligence before signing up with a platform. Ask yourself, what are other investors thinking of the platform and their prior experience.
Steer clear from Metaverse Foreign Exchange and all other products under Masud.
Instead, go for proven and tested platforms that do offer real profit margins.
Check out these Guaranteed Safe Crypto investment options.
Do leave a comment or email us with any queries.
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.