IGOFX, the world’s largest MLM Ponzi scheme crashes

catastrophe bond

The chicken must have come home to roost for more 400,000 Chinese investors who have lost a fortune to IGOFX, a Forex multilevel Ponzi scheme that has just collapsed.

According to Chinese authorities, both Chinese and Malaysian investors must have lost about RMB30 billion, an approximately USD4.4 billion to the scheme.

While in its prime, IGOFX was pitched as a Forex trading platform that allows its investors to earn about 10% to 30% monthly passive income and other referral bonuses. This compelling promise made IGOFX a ‘banger’ as many Malaysians saw the scheme as a genuine investment platform.

According to its investors signs of trouble was noticed as at early June when its affiliates wrote to several online media that the platform has stopped taking withdrawal request. IGOFX was founded and run by a couple who have been identified as Zhang Xuejiao.

Latest reports claim they have fled to Malaysia from China. On its well-designed website, it is hard to believe that the scheme is not what it claimed it was. The company which also claimed to own and run IKOFX said in its ‘about us’ that:

IGOFX is a world class grade Forex Company that aims to be the worldwide market leader by committed to delivering definite competitive pricing, reliable trade execution and innovative trading tools to help our clients to success in their investment.

In the journey of reaching the top of the market, changes are inevitable, however, the undoubted will of advancing towards a trading environment that consists elements of reliance, cordial, professionalism, innovative, reliability, transparency will never be changed throughout the times. Our experience throughout the years makes us understand well what it takes to deliver more satisfaction to our valued clients and most importantly always creating win-win solutions to everyone.

Even since the introduction of our company to the market, IGOFX has been investing in technologies to further bringing in top of the class tools and environment for clients by consistently providing great pricing, reliable trading platform, world class server technologies, ever improving customer servicing and great promotions.

IGOFX always ensure to provide the best pricing possible to clients so that clients can fully concentrate on trading instead of worrying the inconsistent and high pricing would bring them into disadvantage.

Other than that, having be able to stand on the same line with client instead of against the clients are among the top priorities of IGOFX as we always ensure our promotions will be able to bring our clients more advantage. With infinite possibilities and opportunities in this multiple trillion dollars investment market, things will always never be the same with IGOFX!

IGOFX is definitely the safest partner you can trust.

However, a scathing response from the scheme owners to BehindMLM back in June was already a red flag despite the claim of IGOFX as a genuine Forex broker, see below:

Until you register and test your own self please do not publish or blog something you don’t have info or by your own assumption.

Igofx is more than 4 years old and it is a subsidiary of IKOFX which already exist in the market 8 years back when I was still a teenager.

If they really wanted to scam, they should have done it many years ago as they have billions of funds deposited from worldwide investors from time to time. Hope this help!

Depositor, yet, the payout still ontime and no delay. If PONZI, where they could pay out so prompt! Please use your mind to think before you pen down anything here.

Friend, FYI, I joined IGOfx 3 n a half years ago n therefore understand exactly what Biz Model they hv adopte.

Personally, I think U r Simeone who hv got burnt neatly to death before, n envy us making loads or U r a dead competitor of IGOfx trying to put up such Blog, to scam us from making more money.

This is a common practice in the playbook of Ponzi scheme owners. They often resort to personal attacks and insulting feedback should they have negative feedback from the media.

With the look of things, IGOFX has collapsed and it is very unlikely that Malaysian authorities would bring its perpetrators to book.

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