- Let's imagine that FX United is a scam
- Acceptable risk in business
- FX United carries very limited risk
- Playing with the House's money!
- Watch for the signs - and withdraw your money
- A great business opportunity with limited risk
Does it matter if FX United is a scam?
fx united is not a scam ... but let's imagine that it is!
If you read my page: “Is FX United a scam?”, you will see my view that it is NOT a scam – and that in fact it is an amazing investment and business opportunity.
But just for a moment, and for the sake of argument, let’s imagine that it is a scam. My controversial question then is: does it matter? The simple answer is: of course it matters!! None of us wants to be involved in shady dealings – and certainly nobody wants to give a bad lead to their family, friends or colleagues.
What level of risk is acceptable in business?
My controversial question is really all about taking risks in business. When we are in business, what level of exposure to risk is acceptable? Lots of people take out a mortgage over their house (or even a second or third mortgage), or borrow from friends and family, to start a business or buy a franchise – and they often spend hundreds of thousands of dollars – and they often lose it all. To me, that is really sad, and is probably what I would call an unacceptable risk. Other people spend a million dollars buying property, essentially based on little more than the hope that it will maintain its value, and maybe increase in price. We have the expression “as safe as houses”, but when you really think about it, investing in property with borrowed money is also extremely risky, because the downside can be huge. Just ask investors in the USA and the UK during the GFC, when property prices crashed 40%!
FX United carries a small and quite limited business risk
In the case of FX United, the relative risk is small compared to most businesses. It costs USD $500 to join up (this is a “once-off” up-front payment), and then the minimum CGAT investment is USD $1,000. And once we make our investment, it is effectively covered within 9 months (9 x 11% per month = 99%). So after that, there is literally nothing to lose. If we introduce other people and receive referral income, then that 9 month period to repay our investment can go down to under 3 months.
Here’s what I think: it is just poor business to enter into any business we know is a scam – and it is bad business karma to recommend a scam to friends. Just don’t do it. Period. However, there is no indication that this is a scam. This is what I would call a potentially risky business investment because FX United could go out of business next week and we could lose everything. But wait a minute – it may be risky, but what are we actually risking? The most that we can really lose is our initial investment (which can be as low as USD $1,000).
So, if we are fully repaid in such a short time, even the relatively modest initial outlay is not really a significant business risk … and I find myself asking: “What would stop me from just giving this a go?”. And as Tony Robbins would say: “When is NOW a good time to start on my road to financial independence?”
playing with the house's money
It is a bit like going to the Casino and winning big early in the night. For the rest of the night we are “playing with the House’s money” – so we don’t care if we lose. We put our initial stake back into our pocket, and we see how big we can grow the pot!
watch for the signs - and withdraw money at any time
If we remain on the ball, and watch internet chatter and set a Google alert for FX United news, then I am sure we will hear if things are becoming uncertain and we will withdraw our money. There is no lock-in period. We can withdraw our money at any time.
Remember, there is no point being a hero and staying on a sinking ship. If I become worried that FX United is becoming unstable, I will be the first person out. However, at the moment it is going from strength to strength, and my personal view is that I want to ride this wave while it is powerful and is building even more strength!
a great business opportunity with limited risk
Lawyers are by nature sceptical, and in business that has held me back from taking part in many fantastic business ventures ... but this time, the risk is small, and the potential gains are huge! I think I will take a hint from this little guy - take a chance - and live like someone left the gate open!