You are reading a comprehensive MyFxAgents review. Included in this report, we will be explaining what this brand new investment program is, how it works, and whether we think it is legitimate or not. If you are trying to decide if this is a good way to earn online, you need to read our review before joining! We have been investigating this website and monitoring it for a since it opened two months ago.
If you are someone who has already been working with MyFxAgents.com, please send us a message and tell us about your experience. We are still busy collecting information and are always looking for real user reviews to make our reviews better. We need your input!
In the meantime, make sure to stay away from Asset-finance, another viral scam! If you have already been scammed online, please contact us immediately for assistance in reclaiming your money! We have helped many people already!
Let’s get started!
Official Website: https://myfxagents.com
MyFxAgents is a cryptocurrency investment program that offers you the chance to make a maximum of 10% ROI (return on investment) each week for 25 weeks until your investment expires. Nothing is required of the investor except to deposit money. This is not classified as an HYIP because the earnings are much lower than a pure high yield investment scam. However, just because we don’t consider it an HYIP, that doesn’t mean it is trustworthy.
How Does It Work?
As a potential investor, you must first open an account. After this is done, you can invest any amount you feel comfortable with. The minimum to start with is $50, and the maximum is $50,000. Please note… we would never recommend investing a significant amount such as 50k. There are better investments if you have that much money to spend!
If you start with the minimum of $50, you will earn up to 10% each week for 25 weeks. These funds will be paid to you each Friday. You can then chose to compound your earnings by reinvesting 50% or 100% of your earnings into a new investment plan. All programs offer the same ROI but if you start with a large amount of money (which we do not advise) you will make 10% for 30 consecutive weeks.
Where Do The Earnings Come From?
There is not an exact explanation of where earnings come from. We are told that a team of trading enthusiasts and cryptocurrency experts are taking your money and investing it. In this way, they are earning for you while you do nothing but sit back and deposit money. We suspect, however, that the program is set up like a Ponzi scheme.
What is a Ponzi scheme?
A Ponzi scheme is one of the fastest growing online scams. It is an old scam that has been around long before the internet, but the availability of online investing makes it even more viral and dangerous.
In a Ponzi or Pyramid scheme, you invest money, which then earns interest. This interest had to you from the new deposits of members that join after you. This means that you are not being paid from trading or stock market investments, you are just being paid by new members who invest. This means that the money flows from new members down to old members. Those new members then make money when additional new members join and invest.
This scheme does work, for a time. However, at some point the membership will cease to draw in new members and everyone will stop making money. At this stage in time, the program usually closes its doors or in this case “goes offline.” It is possible to make money in a Ponzi scheme, but only if it last long enough to pay out.
It is also important to understand the difference between an honest Ponzi and a scam Ponzi. Many schemes are not purposeful scams. This means that they don’t attempt to scam you, they lose your money because they just do not work. This is completely different from programs that are created with the sole purpose of lying to you to steal your money.
We find it a little disheartening whenever a website does not fully disclose where the money you earn is coming from. Calling it an “investment by a team of experts” is not sufficient. This is incredibly vague and most likely very misleading.
Would you trust your money to a stranger on the street who told you he could invest it and make a lot of money?
Not a chance!
You’d expect that he would offer you some sort of proof that his investment techniques work as well as give you ample proof that he has; they so before. You don’t get any of those assurances with MyFxAgents.com.
Who is the CEO of MyFxAgents?
The website tells us that a man named, David Kaberos is the CEO and founder. We were unable to verify this because we can’t find a record of him with any social media account or other online profile. There is no picture or way of contacting him so we aren’t sure if he is real or not. Most scams we expose are very careful to hide the identities of their owners. It is a GOOD sign that David Kaberos does not have a problem revealing his name.
Is that all?
The question now becomes, if David Kaberos is real, does that make him trustworthy? Not necessarily. Many recent HYIP and rev shares have turned into scams even though they have seemingly reliable and legitimate owners. We do not like the fact we can’t confirm his identity online!
There is a Facebook group associated with MyFxAgents.com… however, it is NOT an official group. It is merely run by supporters, who are trying to promote the website for their affiliate links. Another problem we detected on the website is that they have an FB, Twitter, and Google+ button that do not take you to any real social media accounts.
This means that they do not have any social media account, but they want you to think they do. Another BAD sign. Does this mean they are intentionally scamming? Not really. It could just mean they haven’t finished the set up of their account yet. But it’s not a good sign either way.
The website itself does not show any real user reviews. They claim to have been successful for many years before going online, but offer no proof to back this up. Because there is no real social media account, we are left with only reviews that come from people who are trying to promote their affiliate link.
MyFxAgents.com is a very new company, and because of this, it was difficult for us to find people that had actually been using it. We’ve only have a few people make reports to us. One said that he did receive money to his payment processor account but was still waiting on his second payment. As we’ve discussed before, it is common for scam investment programs to pay everyone their first withdrawal as to increase trust in hopes they will deposit a larger sum of money. It is this larger sum of money that they are hoping to steal.
They are not after breadcrumbs; they want big chunks of money!
But is this the case with MyFxAgents? We aren’t sure.
Earning Safely Online
The best day of our lives was when we discovered we could make real money online. The very next month we were crushed when we realized we had been scammed. Avoiding a scam is one of the hardest things for a few reason.
– No regulatory body monitors all investment sites. If there were, there would not be as many scams!
– Most sites look trustworthy and professional, even while they steal your money.
We support only two systems for making money online. There are others that might work for a time, but nothing as well and as consistently as the ones we support.
If you want to trade online, you will need to sign up with a regulated forex broker that offers copy trading. The broker with the best copy trading is Social Trading with Tradeo! Please take a look at that and tell us what you think.
Online trading is not for everyone. It carries a higher risk but a larger reward. However, if you are interested in something more stable and slow, please check out My Paying Ads and My Paying Crypto Ads. Both of these are honest, transparent programs that have very active Facebook groups where you can talk to real users!
Is MyFxAgents.com a Scam?
We have not formed a conclusion yet. We will continue to monitor them over the next month and update our review as follows. If you are working with them, please please send us your experience as part of our research is collecting real user reviews! We need to hear from members that are having a good or a bad experience.
Let’s recap some of the bad signs we identified.
1. The owner has released his name as David Kaberos. We are not able to confirm this as we cannot locate a social media profile with this name or any other online information about him.
2. It is a brand new program that has only been online for two months. This isn’t enough time to fully trust a company.
3. There is no transparency about how the money is earned. There is a vague statement about how a team of trading enthusiasts will make large profits, but this is not confirmed nor proven.
4. The money is most likely coming from a Ponzi-type of payment system. The money from new members is redistributed to the older members.
All in all, we will NOT be joining this program and do not advise or recommend you to join it either. There are much better ways of making money online! Contact us for ideas or help!! Please leave a comment with your question or experience below!