Have you done a search on Google to find out about MTI? The results are normally articles that question the existence and business of MTI.
I am not a financial advisor, so I am unable to give any advice and the following article should not be considered financial advice. I share my opinion and it is up to you to make your own conclusion.
These are answers that I give people who ask the following common questions. I try to be as factual as possible, but in many cases my opinion based on logic has been added.
So let’s look at the questions:
Does MTI rely on pyramid style recruitment to get new members?
No, MTI is not a pyramid scheme. Mirror Trading International has an optional affiliate program where you can earn a referral commission of 10%.
Pyramid style recruitment plans are designed to attract lots of members quickly to keep the pyramid scheme afloat. If schemes cannot double their membership every month they will typically fail quicker than expected.
Let me explain what a typical pyramid recruitment plan looks like: they will pay 10% direct, 5% 2nd level, 3% 3rd level, 1% 4th level and 1% 5th level. When you see this kind of plan, it is almost always a pyramid.
In terms of membership MTI has just more than 7000 members after 8 months. In the first month they had 500 members, and if they needed members to sustain the business they should have had at least 64000 by now to sustain any sort of scheme.
Does Johann Steynberg have trading experience.
Johann Steynberg the CEO of Mirror Trading International is exactly that, the Chief Executive Officer. To my knowledge he has been involved in investments and trading, but is not a master trader, therefore in his position as CEO he has selected the experienced traders. Johan has negotiated that these traders look after the EA Software, ensuring that the results are consistent.
This question actually makes me laugh, it is like expecting the CEO of an airline to also fly the planes on a daily basis.
Is Mirror Trading International registered with the Financial Services authority in South Africa or Internationally?
The objective of MTI is to grow your Bitcoin, therefore all trading and balances are shown in Bitcoin, your investment is never exchanged for normal currency (FIAT) and always remains in Bitcoin.
Bitcoin is not regulated as it is not considered to be electronic money according to the law. Therefore it is not possible to become registered with the authorities as they do not accept Bitcoin as legal tender. MTI would need to take deposits in FIAT currency if they were registered and then the registration would prevent them from trading in Bitcoin. Over and above that, the financial authority would not allow the type of returns that MTI gets for its members.
Is Mirror Trading International operating illegally?
No, they are registered as Mirror Trading International (PTY) LTD in South Africa and the Registration Number is 2019/205570/07. They are a fully legal entity and Johann Steynberg is the responsible Director, therefore should anything happen to MTI, Johann Steynberg would be solely responsible.
The fact that MTI has members in over 100 countries also means that he could be summoned to any court internationally, should some type of fraud occur. The legal team of MTI ensure that MTI is 100% legally compliant.
What evidence is there of real trading taking place?
Mirror Trading International is prevented from showing live trades due to their licensing agreement with the EA Software providers. This is the fact that makes most investors nervous and it is good to do a risk assessment based on the historical results you can get from existing members.
If MTI was a scheme, 7000 members would not be sufficient to support the profits paid to date. Therefore my conclusion is that the trading is real. Profits are derived from the trading activities, and members receive personal statements the following day detailing every trade placed. These could be compared to the previous day’s trades should you wish to take the time to do this.
The reality is that Mirror Trading International is going to be around for a long time and there is no need to rush in quickly hoping you are going to make something.
My experience is that you will grow your Bitcoin with Mirror Trading International and even if the Bitcoin price never rises significantly above the current level your Bitcoin will be growing. In time you will have a good number of Bitcoin more than when you started, thus you will have more value as you have more Bitcoin. Therefore should the price of Bitcoin increase significantly or not, you will still have more value in your investment.