Thoughts on IXTrade

[sugarcookies]

Hindi siya forex trading o stock trading.
Parang self made na copy trading siya sa pinas, though wala ako nakitang SEC regulation or DTI permit man lang sa home page ng website. Bagong gawa din lang ang website, 2021 yung copyrights nya. Though properly designed na din yung website niya as a platform.

May nag encourage sakin na friend ko, nag cashout na daw sila ng profits. Though mas prefer ko pa pumasok sa copy trading kasi may choice ka kung kaninong trade susundan mo. The minimum deposit (500 php) account opening was easily tempting to newbies in any forms of investing.

What triggers me besides the 0% legitimacy, is that there are no transparency on market, tinanong ko what if naluge? Sabi hindi ka daw maluluge, maluluge lang daw sila pag tumigil ang investors (mga nag o-open ng accounts). Dun ako nag raise ng concerns. Walang charts, so ginagawa tlga nilang newbie friendly. Though they are guaranteed returns/profits daw.

Also pansin ko parang may MLM scheme din sila, referral invitations. You know how that goes.

I was wondering if anyone here has actually experienced using it. Kindly share your experience.

UPDATE:

Warning to all investors/traders, FINANCIAL DISCRETION is advised.

I spent my 500php by choice to test the legitimacy of the brokerage. I finally recieved my withdrawal of 750php, among their guaranteed 150% profit rates. May concerns ako minsan sa speed ng website, minsan kailangan ko pa mag login 10times more or less pero safe pa naman ang deposit ko. Siguro sa dumami na rin ang users at di na kinaya ng server? Totoo yung sinasabi ng iba na para sa deposit need mo mag send sa private bank account ng isang nag w-work sa IXTrade so medyo matagal ang deposit, withdrawal usually after 24hrs. All because manual pa transactions nila, hindi tulad ng ibang brokers na automatic basta daan sa skrill, visa, o mastercard.

I would like to revisit my post description:

Yes, wala parin legitamacy sila in regulation on the Philippine SEC. You can check it for yourself sa TOS (Terms of Service) and Privacy Policy nila.. wala laman as of today, pag cinlick mo babalik lang sa login page. Ang benefit ng regulated brokers, may assurance ka sa investments mo and kaya nila patanggalin ang buong brokerage company para di na mapahamak ang financial newbies. In short, legally binded ang company.

Paano masasabi na regulated ang brokerage? Usually may tax/commission ang transactions, nag re-require sila ng Personal ID or TIN for verification, nasa website na mismo ang registration number/business add./customer support contact/risk warning

1. May natutunan ako sa isang financial advisor ko sa youtube, si Rayner Teo. Wag daw kayo mainggit sa P&L (Profit and Loses) ng friends nyo. "Showing off your P&L is like flashing a dck. No matter how big, there's always someone bigger than yours. So stay humble or risk losing it." In the end, my ixtrade investments would not matter to you, because it's my risk not yours. Like I said FINANCIAL DISCRETION is advised.
2. Gusto ko lang iconfirm na this brokerage does NOT involve trading. No transactions ng buy/sell tulad ng stock market o forex trading. Literal investment platform lang.
3. Yung ponzi/mlm scheme na inakala ko is considered as a referral bonus pala so nde cya required, tulad ng coinsph na may free 100php sa wallet mo kada input ng code/referral link. Sa IXTrade naman, 20% ang kita mo sa direct referral. Sabi nga sa company profile nila, NO NEED INVITES. Although para maka sign up ka, need mo parin ng tao na nagbibigay ng referral link o tinatawag dun sa website is Sponsor Username for the sake na ma-activate ang account mo, if kunwari referral link ko gagamitin nyu, s-send mo pa sakin yung receipt for your deposit then IXTrade na ang manual mag a-activate usually 1-2 hours sakin tumagal. Ito nga lang yung sistema na di ko trip, dependent ang activation and deposit. Sana pagka sign up lang di na nila i-require ang sponsor/referral link since di naman required mag invite.

If you think about it, unlike other mlm/networking companies, they don't just give out your profits after first activation, minsan di pa abot sa break-even ng deposit mo. Yung IXTrade beyond break-even na, di ko pa kinailangan mag invite, cashout agad after 12days.

Inuulit ko, FINANCIAL DISCRETION is advised. If long term hinahanap nyo, bet ko padin stock market/business. I'm only diversifying my portfolio at iba ang risk appetite ko sa risk appetite nyo.

Clickbait pala yung "150%" every 12days. 50% profit lang talaga cya, since 500 to 750 ang wallet mo. Nagulat ako wala pa kumokontra dito. Still 50% every 12days is too big, kahit mga forex robots o professional traders hirap yan gawin in a short amount of time.

Update 2:

RIP IXTrade~ I think justified na nga concerns ko. Registered market investments at risk management padin ang panalo.

Sa mga tao na may active investments, dont expect to receive it back soon unless dumaan ang IXTrade sa lawsuit, which is na experience din sa wolf of wallstreet or KAPA investment.

 

[resjudicata]

@sugarcookies I know a few close friends of the alleged CEO. Yung Ingrid Arche. My hunch is that Ponzi Scheme yan since wala talagang background si Ingrid pagdating sa trading. She's a model and an endorser. She doesn't even give trading advice let alone do live trading sa FB nya. It's always pa raffle at giveaway. Ang hula ko diyan front lang si Ingrid at yung tunay na may pakana niyan wants to remain anonymous for whatever reasons. Para siguro madali tumakbo.

My advice is, wag nyo na tangkain please lang. Ngayon nakakapag cash out pa mga sunasali since kakaputok palang ng Ponzi scheme na yan, marami pang uto-utong sumasali. Once nagkaipitan na, knock on wood, sana di tumakbo yung scammer na may pakana nyan at kawawa yung mga naglagay ng pera.

If isa kayo sa mga na-goyo, get out while you still can.

 

[resjudicata]

They'll remain anonymous because after running, they'll just a get a new front to do the same scam all over again.

Also I find it disturbing that some people here are trying this out even though they believe to be a ponzi scheme. They don't seem to realize that they are just enabling the scammer to scam more people just to recieve a payout. Also they don't seem to see a problem about providing identifying information to a possible scammer.

 

[sugarcookies]

@resjudicata im afraid some people are investing too much sa IXTrade, e kung hinulog nlng sa ibang investment platform tulad ng uitf/mutual funds/stock. Unreliable pa transactions nila kasi manual.

 

[resjudicata]

@sugarcookies Yep. Kaso ang hirap tanggihan ng easy-money eh. Tahimik nalang ako sa socmed since yung circle of friends nya e mutual ko and they support her 'stock trading business'. Goodluck nalang sa kanila sana di sila takbuhan nung pasimuno nyan ixtrade na yan.

 

[jamesb]

@sugarcookies Nag search din ako sa ixtrade since yung mga pinsan ko naniniwala talaga sila. Kahit sinasabi ko na too good to be true to. Imagine having arguably the most advanced AI to predict the market since it's 150% with no risk But you're still doing your transactions manually.

 

[sugarcookies]

@jamesb 50% po pala ang profit guarantee. clickbait lng ng ixt ang 150%. literal na deposit mong 500 to 750 is +250 to ur account, not +750. So 50% cya to clarify. jbaited. Good news tho, active ung ceo nila si maam Ingrid for cases na may concern ka sa process ng website o account transactions. Other than that, FOMO investment or pump and dump padin bago "mawala" para sa portfolio ko.

Para sa profit guarantee, possible siguro kung options trading or leverage ng margin trading sa forex o us stock market. Pero yun lang, wala kasi sila profile ng assets nila. Di tulad ng mga mutual funds, GInvest nga ng gcash alam mo kung stocks/bonds/savings ang choice sa mutual funds.

 

[asami]

@sugarcookies Any update with your returns? I have friends who took part of this and I'm worried for them.

 

[sugarcookies]

@asami ok yung unang transaction, then ayun di na ko magugulat... may connections pa nmn ako kay maam ingrid.. di na daw ma contact hahahahaha. ezpz mukang balik crypto stocks at forex na me.

 

[victoriapirere]

@sugarcookies HAHAHAHAHA putek she ran away na daw according sa isang verifier tapos iniwan nila yung problema sa mga verifiers na pinapasukan ng pera ng mag-iinvest.

 

[sugarcookies]

@victoriapirere Kung may nag invest man ng sobrang laki, dapat approach na agad ng mga kababayan natin ang SEC at masimulan ang kasuhan/investigation. Natawa ako dami nag reklamo sa live ni Raffy Tulfo di naman nya sinagot hahahahaha.

 

[tim_o]

@asami Update on this, Ingrid Arche deactivated her account and the site can’t be opened anymore. So in short, tumakbo na sila.

 

[asami]

@tim_o I just heard. Summertime Sadness.

 

[jah138]

@resjudicata Ang nakakabahala pa is masyado ng nabubulag mga tao sa Ixtrade. Pag pinag sasabihan sila, they will reply with harsh words and even curse at you. Pinag iingat lang pero ikaw pa magmumukhang masama.

 

[rongold]

@jah138 yun lang. mahirap na kumausap sa taong nauuna yung bugso ng damdamin kesa gamitin muna yung pag iisip at try na alamin kung ano man yung pinupunto.

 

[isidore]

@resjudicata Hello. RIP IXtrade. Grabeee! Ambilis ng pngyayari! As of today, april 12, 2021, wla n ang ixtrade. Kakasali ko lng 2days ago,ngaun wla n ang pera ko. True enough, scam nga tlga tong mga platform na tulad ng ixtrade. Ngaun, dami po nmin nghahagilap kay ingrid arche. Please, tulungan nyo kmi bka.may malapit n cyber crime division jan sa inyo ng police station. Need nmin maibalik pera nmin. Tumakbo na dw c ingrid eh. May mga kasama npo ako n ngfile ng case. Hdni lng ako mkalabas kc may ksama po ako na menor de edad. Please let's help each other kng investor din po kau sa ixtrade. Maraming salamat po

 

[resjudicata]

@isidore Afaik, nasa BF Paranaque daw nagtatago si Ingrid. Hinahabol ng ibang verifiers. May nabasa ako na kailangan daw nila ng complainant bago masugod si Ingrid dun sa subdivision. Medyo malabo na po mareturn yung pera ng mga naginvest since napaghati-hatian na nilang magkakasabwat yun for sure.

 

[mkm6]

@isidore Balita ko nakakausap pa yan nang pamilya, nagagalit pa nga sila isipin nyo bakit pati pamilya d man lang nag tanong sa pulis? Tapos ayun pa onti onti pag asensyo para di halata karma na bahala

 

[resjudicata]

@sugarcookies Looked into it and found this video:

1.) Advertises that they are using an automated system that knows when a stock will go up or down created by Ingrid Arche. Looked up on her and can't find any legitimate credentials that will back up the claim that she was able to code a software able to predict the price of a stock perfectly. No linkedin, no github, nothing. Her credentials from a simple google search is more akin to that of an influencer or promoter.

2.) The way to pay in/invest is convoluted and very suspicious. You have an alleged high end coder able to create a trading software but unable to create a simplified payment system? You have to go through hoops and pay another person directly to their own personal bank account (Not even a company account).

3.) Returns are very doubtful and unbelievable. 50% in just 12 days with a 100% guarantee? No one can do that and if they can they would just keep it to themselves.

4.) Referral bonus. I don't think I have to expound why this is concerning.

I might be wrong but this smells like a ponzi scheme. They most likely are just using the money of the new investors to pay the old ones and pocketing the rest. Also based from the FB of the founder Ingrid Arche, she was a former dancer that lost her gigs due to the pandemic and started investing during that time. This means that she learned to trade and to code in a year. Also in that year she was able to code a state of the art trading software able to predict the market. I'm not saying that it's impossible but it very improbable and unlikely.

Edit: Also read back what you just metioned that the only way for them to incur losses is if the investors stopped investing reeks ponzi scheme.

 

[sugarcookies]

@resjudicata I shall take the BULLET then, 500 pesos wont be a burden to my finances just to open an account. I shall update this post when necessary.

So far, as ponzi schemes. Usually MLMs charge for so much more, they say invites or referrals are not necessary as you would still gain the profit/returns otherwise. Referrals would just be a bonus to their "Investments".

From my current observation, it doesn't look like ms. Ingrid is working alone in her so called "Trading", and some of the money goes to crypto, and yes the private bank account. Still very shady. My close friend got his first withdrawal through GCash, it was even more than the guaranteed returns. All deposit in the money.

Still wont be surprised if this reached a larger audience where the Philippine SEC would investigate it for opening an unregulated brokerage.