I came across a company called CME Trades Limited, and it says that they are a investing in the stock market and in forex. They promise daily returns of 2% and 3000% returns in 60 days.
What do you think about them? Do you think I will make money with CMEtrades or is it a ponzi scheme?
There are many things wrong with CMETrades. For starters, there is no such investment in the world that has such a high rate of return.
The definition of a ponzi scheme is when money from follow-on investors is used to payback initial investors.
Now, your friend who referred you to CMEtrades probably doesn’t realize, that they will only make money on the back of your losses.
Any investment company in the United Kingdom must be licensed and regulated by the FCA. Although CME shows that they are registered as a company in England, they do not have a legal license from the FCA.
It is interesting to note, that their website is hosted on servers in Ecuador, and the only methods of payment they accept are ewallet deposits.
If you want to see a legal Forex broker in England read about ETX Capital.