Once again this is a PERSONAL DECISION and CHOICE every person has to make for themselves.
True but when you have people giving deliberately misleading information and/or taking advantage of those with lesser knowledge of financial matters, then it's not really an informed choice.
You'd be shocked at the number of crew who hadn't even considered the possibility of it being a scam because 'It's Forex', 'it's registered by the bank', 'It's recommended by the company(!)' and so on... they are so trusting of their fellow crew that they take word of mouth and do bare bones (if any) research... THAT is what these people are relying on.
Trading stocks for YOURSELF is one thing Michigan, it's your money to lose and yours alone. Convincing other people to sign up for something, to someone who is trading the money of thousands of people, is another. You sound a bit like the crew who got really aggressive trying to convince another crew to join, he got super mad when I suggested that TO ME, it *seemed* like some sort of Ponzi scheme and she's do best to make her own independent, unpressured research and/or consult a financial advisor. It was something to see, that crew was really quite nasty/pushy about it. Why be like this if it's not necessary to have others join to keep the thing running? If it really is legit, wouldn't they be happy to recommend that people go get independent advice?
Also- just because something is registered with an entity, does not necessarily mean that entity approve or are even fully aware of what it involves. For all I know this thing could be completely legal until the day they pull the plug and run with the money. Legal doesn't always mean right or morally sound... look at the financial scandals in the US....