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MPT Max is an MLM that combines the idea of network marketing with currency trading where affiliates can tap from their free trade copier service for additional income. There are two types of memberships on this site namely Client and Ambassador. To become a Client, one has to sign up and fund a live account and that will earn them the status of a client. However, for them to become Ambassadors, they must sponsor at least one client which essentially means that after signing up and funding their accounts, they must convince at least one person to join. This makes MPT Max a classic MLM scheme.
In the meantime, trade with these products because they have been endorsed by traders and our readers as well. They are currently the best Forex trading solution available for beginners who don’t have a big budget and may want to start trading immediately.
There is no information anywhere on this site regarding who owns or runs the business. This mysteriousness is a concern among many people who would like to invest in these kinds of schemes, although we highly discourage our readers from becoming members in any of these schemes since they never trade as claimed on their website. Instead, they recycle funds among members and when the number of new members starts to dwindle, they abandon ship and it becomes a loss for those who joined after the first few guys who got lucky to be paid.
There has an about us page but this page provides vague information which cannot be relied upon as well. On this page, they claim that MPT Max is a Williams Corporation brand. They also claim that when we trade with MPT Max, our counterpart is Williams Corporation which is based in Hong Kong.
In addition to this, Williams Corporation manages back office tasks as well as other administrative duties pertaining to MPT Max activities. However, funding is handled by their partner in Norway called Simray AS (Simray AS). Williams Corporation is allegedly established by veteran traders who offer fast, secure and accurate trades in the Forex market.
Simray AS is a real company and on their website, they claim to provide trading technology for the financial industry. However, back in 2011, Austrian Financial Market Authority warned that Williams Corporation was not allowed to carry out certain banking transactions requiring a license in Austria. They were also banned against providing trading services on behalf of one’s account and also asked to refrain from providing call and put options. Williams Corporation is also known as My Private Trade.
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My Private Trade appears to be an affiliate of Williams Corporation. However, it gets muckier when financial regulators in Slovenia claim that My Private Trade is synonymous with Simray AS. In fact, in 2010, the Slovenian Securities Market Agency (ATVP) warned Simray AS. This warning was also directed towards investors who were warned that anyone dealing with this company would be putting themselves at risk. In that warning, they claimed that the domain myprivatetrade.com was offering its services on the internet and yet the operators had not sought their permission to do so. They claimed that this entity was not authorized under MiFID directive to provide financial services in the republic of Slovenia.
Based on this warning and what we have gathered, we are more than sure that Simray AS is the same thing as Williams Corporation, My Private Trade and MPT Max. The question becomes, who is running this operation?
In their ”legal” page, they address issues to do with banking and options trading. When we go through the statements, we end up with one question in mind: Is My Private Trade, Simray AS, Williams Corporation or MPT Max a giant ponzi scheme?
Surprisingly, there are no real products here. Instead, members are supposed to sign up and deposit funds to a live account or recruit others to do so. These funds are allegedly going to be deposited with Simray AS for purposes of trading.
An affiliate is supposed to cough up €60 EUR every month in order to maintain his membership on this ponzi scheme. As mentioned in their teams, if an affiliates takes at least 12 trades in any given month, the fee which they are supposed to pay on a monthly basis is waived.
We cannot trust the operations of this site for the simple reason that multiple regulators have issued a warning against their operation plus at least one of the owners has a history with pyramid schemes. This means the company is planning something fishy with their members funds.
Why are they having links with a Hong Kong based business when the owner has connections with Dubai and yet the main business is supposedly being run from Norway?
We don’t know whether the trading platform offered by MPT Max works or not. We also don’t know how this ties up with the way their compensation structure is designed. If you look at it from another angle, you might be tempted to ignore the trading bit of it and instead focus on the monthly fee which they are collecting from members illegally.
You are supposed to pay €60 EUR a month to earn commissions when you recruit others? That’s the text book definition of what a pyramid scheme is and these games are dangerous to play.
MPT Max is simply offering unregistered securities to the masses and because of this, such kind of an operation is illegal in most countries that regulate these activities.
This is the most stupid thing you could do. You sign up, pay your monthly fee and expect everybody else in the network to pay their monthly fee so you can get paid your commission.
When MPT Max takes off, it won’t be a scenario where Slovenia, Austria and Hong Kong were the only countries that issued a warning against this ponzi scheme. In the meantime, you can legally trade Forex with these solutions.
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