Mobile Wealth


- Updated 2024-06-14
The relaunch of Mobile Wealth services under the auspices of a new company seems to be progressing well. See the latest news updates below, and especially today's update on June 14th. We still don't know if everything will work out in the end, but we have received more and more positive indications lately and we are therefore starting to feel that things are perhaps stabilizing. Thanks to our long-standing commitment, even through all the challenges of the last few months, we may end up in a very fortunate position, with access to products and services that very few others have the opportunity to enjoy. We're not there yet, but it's looking increasingly promising.

Below you will find regular updates on the latest news, links to guides, links to questions and answers, and general information about Mobile Wealth.

Latest news - July 2024

Below is a brief update straight from "New MW" on the HARD STOP feature on Eden's Multi-Asset MAM Investor Account at BlackBull, addressing what we saw on our accounts this past Friday. 

We in the Swedish Forex Group have asked for this update from the company but have not been involved in writing the text. 

======= Update from "New MW" below =======

Update 7/14/24

As many of you have seen, there has been some confusion regarding the drawdown that Eden manages. It is set at 15% and that has yet to be breached. Yes, many of you have seen more than a 15% drawdown, which is not the goal, but we must understand that Eden is trading 1 single account, and not dozens/hundreds of individual accounts. If Eden were to trade each account individually, the load would be too great and render the neural network untenable. The previous server failed due to this problem and we are currently investing millions of dollars in hardware and software to make sure Eden has all of the room to trade as could be imagined.

Eden is getting data from multiple sources, which shows the drawdown lower than what was seen at Black Bull, even though the overall drawdown on Black Bull did not reach a total of 15%. Our developers have already implemented corrections for Eden to use the drawdown with BlackBull, despite using aggregate price action in the market.

Another reason the drawdown level is different on each account is that clients are adding and removing funds often. This changes the balance while trades are in place. Metaquotes does not offer a way to segregate funds in either MT4 or MT5 when a Mam is being managed. Our developers have implemented a workaround to set a hard stop loss on all accounts at the time of the original trade as a max drawdown so that the limitation in MT5 can be overcome.

The current trade will continue with the original parameters and feeds but all new trades will reflect the above changes.

Thank you for your patience. We did not want to put out an update until we had our developers complete their review and plan to move forward. We did not want to share our hopes and resolutions without concrete confirmation that they could be implemented within the parameters required by metaquotes.

Below is a short update directly from "New MW" on the current status and situation with Eden's trading. 

We in the Swedish Forex Group have asked for this update from the company but have not been involved in writing the text. 

======= Update from "New MW" below =======

As everyone who are already active on the MT5 MAM can see, trades are being placed on their accounts. These trades are 100% managed by Eden.

There are now some questions on drawdown (which at the time of writing is currently at 3.3%). The max drawdown on MT5 is a hard 15% and is outside of Eden's control. The current drawdown is normal in any trading system.

The trade size used is still smaller compared to normal while Eden is growing in MT5. This will continue until Eden shows full management in the new environment.

Since Eden is currently carefully managing resources while growing her capabilities, the trade frequency is not yet at full capacity. As resources are added, Eden's trade frequency will increase. Those resources have been set aside at great cost and will allow Eden to grow within the MT5 format.

Regarding Crypto trading; there Eden is also learning to grow in with Liquidity One. But since technical updates from Liquidity One are still pending, we are not actively seeing trades on the accounts. Eden is however still learning and growing, even if it is not yet visible to clients. Trading here will start again shortly once Liquidity One updates are complete.

Latest news - June 2024

We are now pleased to announce, with a not insignificant amount of newfound confidence, that "New MW" is now ready to let everyone in our community into the new MT5-based Multi-Asset account at BlackBull Markets, where Eden is now up and trading.

Initially, some strict restrictions apply to avoid suffering from growing pains:

  • The maximum total capital (combined for all customers) is $250,000.
    When the total deposits reach this amount, further admission of customers is stopped until they open up more widely in the next step.

  • Mandatory withdrawals of profits each month.

These restrictions will apply "for a few months", unclear what that means in practice, but it seems to correlate with the timing of the upcoming official launch which they simultaneously say is approaching.

OUR community has first dibs to fill up these $250,000 over two weeks from today. If we fill up this amount on our own, the other two customer groups will not receive any allocation in this round and will have to wait for them to open up more in the next step. #longnose

As previously announced, OUR community also has a special deal regarding the minimum deposit at the moment: If you lost money due to the events in early March this year, the minimum deposit is $500. For everyone else, the minimum deposit is $5000.

Furthermore, unofficially it seems that progress is being made with all the tricky legal aspects that need to be dealt with for the relaunch, which is hugely positive.

Finally, it also looks like the new company, whose name is still not finally decided, will run with a quite different marketing/customer acquisition strategy than the one that MW had planned for. We have been getting such vibes for some time, and now we dare to say that they will most likely focus primarily on private equity from large clients, and not on picking up a lot of small retail customers like us. As a thank you for our contribution and hardships during the soft launch, we, and the two other customer groups already on board, will be allowed to continue as customers to them even though they largely seem to change market direction. Possibly those of us already on board will be allowed to refer more people in our turn, but NO new groups of customers will be brought in beyond these three groups already on board, and the company is unlikely to market themselves to private individuals or via affiliates at all. All capital, beyond that coming from us and the other two groups, is thus instead likely to come from larger investors, investments funds and the like.

We have struggled along the way to this point, that's for sure, but thanks to the fact that we HAVE been a part of this journey, it now seems that we will also be part of a fairly small and select group that will have privileged access to these products otherwise not available to the general public.

If you want to join or re-join, you need to create a new Multi-Asset account with BlackBull Markets.
This is done following exactly the same methodology as when we started the previous MT4-based multi-asset account:

  1. Log in to the BlackBull Markets customer portal.
  2. Click on "Lead & Follow" in the menu on the left.
  3. Click on "Investor" under Lead & Follow. (Do NOT click on "MAM"!!)
  4. Click on "Open Investor Account"
  5. Type "Multi" in the search box at the top right.
  6. Click on the account that is MT5(!!!) and is named only "Multi Asset" and is dated 2023-10-12.
  7. Click on "Apply".
  8. Click that you accept the Terms & Conditions (this is your agreement with BlackBull regarding this account; you should read the agreement first before proceeding!
  9. Wait for an email from BlackBull to confirm that the account has been approved, which can take up to 24 hours plus any weekend time in between.
  10. Rename the account to something smart and easy to recognize and set your own password for it (under the "Trading Accounts" menu -> "Investor".
  11. Deposit money into the new account. At least $500 if you lost money before according to previously communicated info, at least $5000 otherwise.


We currently have no new information on the payment of compensation for past losses, but already communicated information according to updates further down on this web page still applies.
IMPORTANT: If you have suffered losses but have NOT yet sent an email requesting compensation, it is NOW TIME to do so as soon as possible. Instructions can be found in previous news updates on this page.


Latest news - May 2024

Background to this update can be found in the previous update on crypto-Eden dated 2024-05-20, further down this page!

As mentioned in the previous update, work is underway to address the reasons why Eden's crypto trading has recently struggled to show profitability on our customer accounts, despite the fact that the underlying trading mechanisms and decisions seem to be working well.

Now we have some more information on this - which also includes a necessary MANUAL EFFORT FROM US CUSTOMERS - as set out below:

The "New MW" development team is currently working on several system updates which will be implemented as soon as possible. In order to implement these updates, it is necessary to switch Eden off shortly (tentatively within the next 24 hours), and she will then also lose the ability to manage already open positions at Liquidity One (L1). 

Right now, there is an open position on BTC (Bitcoin) which, for most of us, has been open since May 16th.

This position will thus have to be closed manually by us customers as Eden cannot maintain control over it.

As soon as Eden is back online, she will start trading again on our accounts, but if this old position remains open, she will not be able to trade on the customer accounts where this is the case.

You therefore need to manually close the open BTC position yourself by logging into L1 and performing a swap of BTC for USDT. Right now, this position is in a floating profit compared to the opening price, so closing now would realise a profit on your account.

 If you don't know how to close a position at L1, please read our FAQ question, see the sub section TRADE CRYPTO: 


Yesterday, 20th May, we posted an update that a new account will soon be opened where Eden will trade US30. (If you haven't read that news, please do so directly below the text you are currently reading.)

We mentioned that we were in dialogue with "new MW" about a minimum capital contribution for this account, and that we hoped to reach a special agreement for all of us who had been involved in the events during March.

We are now pleased to announce that we have reached an agreement with new MW.

For OUR test group ONLY, the following applies:

  • If you have been running Eden via BlackBull during the soft launch and are affected by the losses during March, the minimum capital investment for the new US30 account is $500.

  • For all other test groups, as well as for all those who did NOT participate in the soft launch and/or did NOT lose money during the March events, the same condition as before applies, namely that the minimum capital investment is $5000.

  • Overall, totalled across all users, a certain amount of capital is also required for Eden to operate at an acceptable level of risk, so for everything to get started, that level must also be met. However, we as customers don't have to worry about this, it all simply kicks off when sufficient capital has been deposited in total.

Today we can inform you about the following:

  • Soon, hopefully within a week or so, a new Investor Account MAM based on MT5 will be launched, which will be a first step towards getting back into the game.
  • This account will be run through BlackBull Markets just like before.
  • Eden will handle the trading on the account.
  • Thanks to using MT5 instead of MT4, there will be significantly improved security features, including an over-arching hard stop that cannot be seen or manipulated by Eden.
  • Only US30 will be traded in this account.
  • It will initially be traded with very small positions but this will be scaled up to normal levels over time.
  • Trading will be transparent, which means that all ongoing trades will be visible to us customers.
  • The minimum capital required to start trading in this new account is currently not clarified. We are trying to 'negotiate' with 'new MW' on that to make it as smooth as possible to start again even before the compensation for previous losses has arrived for those of us who cannot, or do not want to, add more money but still have some money left from the previous crash. However, our ability to influence the final decision is limited and we have no control at all over purely technical constraints, but we do what we can to influence within the limits of what is technically possible and what is reasonable from a risk and margin point of view.


Various other items of relevance and interest:

  • There will be plenty of news and additions related to “Eden on BlackBull” as well as other services coming to us bit by bit over the coming weeks and months. It will all be revealed when the time is right and legal conditions so allow.
  • The timeline for having the "new MW" up and running properly/commercially has - as everyone can clearly see for themselves - been pushed forward compared to the previously communicated "4-6 weeks starting the week after the crash". This is due to the legal complexity that we have informed about several times since then. The legal aspects MUST be handled properly, and it simply takes the time it takes. It cannot be rushed, and there can be no formal relaunch until that bit is fully sorted out. We cannot give a new target date at this time, but you can all be 100% sure that it is not in anyone's interest, including the folks over at 'new MW' to delay this any more than absolutely necessary.
  • Some people still have money left on their old MT4 Investor Account MAM. This will need to be moved out at some point, and we suggest you do so immediately as the old MT4 Investor Account MAM will NOT be used anymore, as has already been communicated several times. You can move this money either to your BlackBull USD wallet if you want to withdraw it/move it elsewhere, or you can move it directly to the new MT5 Investor Account MAM when it is up and running shortly.
  • We have no new information on the actual compensation for past losses or the payment thereof. Thus, previously communicated information remains valid.


The following text comes directly from "new MW" and concerns the state of automated crypto trading, or "crypto-Eden" as we often say. This text does not come from us (Svenska Forexgruppen / the Swedish Forex Group), nor is it based on our knowledge or opinions, but in this case we only convey the information that the company has provided us with.

If there are any uncertainties, we are available to answer questions via the MW Telegram group.


===== From new MW below, dated May 20th 2024 =====

We are working hard to manage our crypto product which has been trading positively for several weeks now. Not all positive gains are being seen by clients and we have worked hard to determine why that is the case. As you know, we are working with Liquidity One, which is a new crypto exchange that offers unparalleled access to crypto pricing. Due to the access Eden gains through this exceptional pricing model, the AI system can learn and grow at an accelerated rate. This means that overall profits will increase the more Eden trades. This does not come without some challenges, however. Eden plugs directly into L1's data feeds, which give industry-leading access, via an API. As you can see in your Mobile Wealth back office, Eden has been successfully trading since Feb. 22nd. The application of those fees has only been calculated at 50%, an anomaly that has been fixed. This did cause Eden to believe that any trade of more than 0.3% was still positive, while only reaching a breakeven point when the trade was completed. Eden has reinterpreted the data she has learned to apply this new information and moving forward the trading strategies will take this into account. In order to correct this in your accounts, the trade results moving forward will soon show the fees as well as the profit/loss. In order to integrate this into the website, the data up until the fee calculations are shown, and all accounts will show new trade history from that day forward. Your trade history at L1 will still show in total and can be accessed in the back office of L1.

We are working on several updates to the website to further address any concerns, such as changing of risk settings on the fly and integrating that into trading. We appreciate your understanding as these updates aren't as timely as we would like, however, we are doing all we can to implement them correctly to allow Eden the ability to improve, which only an AI can do. As AI becomes more involved in all aspects of life, not just trading, the success or failure of a system is only as good as the data it has access to. Liquidity One provides more data than any crypto exchange heretofore in existence. This puts everyone trading with Eden at a major advantage due to Eden being the first of its' kind out of the gate. This does have growing pains, but we are confident that those will be resolved, and we will all be the better for them.

We should have more updates shortly and will keep the community updated as we have more information to pass on.

As you may have noticed, Eden has been behaving differently lately, which is in line with how she adapts to different market situations and how she can change her way of trading based on new information she receives. What was strange, however, was that our accounts were slowly but surely losing value.

We were informed by MW that on their accounts they see positive results and immediately started an investigation with L1 as to what might be causing the discrepancy between their and our accounts.

We just now got confirmation that they have paused Eden and stopped her from trading on the crypto market on our accounts until they have figured out where the problem lies somewhere. This is to ensure that our accounts do not continue to lose value while the investigation is ongoing. Eden continues to trade on their accounts so that she can continue to learn and improve without interruption.

(You may have a small percentage of Bitcoin left in your accounts, but it should not be counted as a trade, but as too small a portion to profitably convert to USDT).

Latest news - April 2024

We have now received instructions on how to proceed in order to benefit from future compensation for the losses we suffered in early March.
(See the posts further down on this page for everything that has happened and been communicated since then!)

If you have been actively trading in Mobile Wealth and suffered losses on the Multi-Asset account in early March, it is extremely important that you read this post and act according to the instructions below as this is the ONLY way to take part in the planned compensation scheme!

We at Svenska Forexgruppen (the Swedish Forex Group) will act as an intermediary to facilitate and support the process. However, we are in no way involved in, or responsible for, the compensation scheme itself! 

We currently do not know more about the exact mechanism and timetable etc. for the actual payment of compensation beyond what was said during our community meeting yesterday, 23 April, and we will not answer any more questions about this until we receive more concrete information later on.


You MUST do the following steps!

  1. Send an email from the email address you used to register your account with MW to hej@forexgruppen.se labelled "COMPENSATION"
    (Nothing more needs to be written in the email itself. This step is important for us to be able to check and follow up that the information has actually reached everyone).

  2. We will reply to you within the next few days with an email containing the official instruction from MW on how to proceed, and we also intend to help with clarifications and guidance that we believe can facilitate the process.

  3. Follow the instructions in the email we sent you!
    (This basically means compiling information about your accounts with MW/BlackBull/L1 according to a given template and emailing this to the address given in the attached document from MW.)

  4. It is extremely important to follow the instructions to the letter!
    If you have multiple accounts with MW/BlackBull, it is also extremely important to go through the same process once for each account you want compensation for. I.e. a separate email should be sent to them for each account. (However, it is enough that you send ONE email to us in step 1.)


Please act in accordance with the above steps as soon as possible!


Tonight we held a meeting where we summarized the current situation and gave our view on the state of things, and also addressed the questions you have all been wanting to ask.

Watch the recording of the meeting by clicking here!

A passcode is required to view the recording. This password can be found in our MW telegram group under the "Admin info" heading.


We know that many people, ourselves included, are waiting impatiently to find out when the previously announced Zoom meeting with "new MW" will take place. 

First of all, we can confirm that it WILL be held. Thus, it is not so that "everyone has packed their bags and left" as some have speculated in. On the contrary, they are working extremely intensively to get the business going again.

What is clear to us is that the initial announcement from the company that they were going to run a Zoom meeting with us already a couple of weeks ago was delivered somewhat prematurely. At that point, they did have a clear vision of what they wanted to do to restart everything again and they wanted to tell us about it all as soon as possible. In practice, however, it turns out that they cannot yet say anything at all as the legal situation around a newly formed company taking over the business from MW is very complex and extremely sensitive. The slightest misstep can tip everything over and make it impossible to continue under new management, including of course the plans to compensate us customers for the losses caused by the previous failure. Hence, they have to be extremely careful about when, where, how and what they communicate (to us).

The principle plan right now is to:

  1. Complete the incorporation and transfer of business activities to the new company under a new name in a legally sustainable way.

  2. Complete new necessary technical investments and various updates to be able to run Eden in a robust and reliable technical environment that eliminates the risk of breakdowns of the kind we saw earlier. This also includes a clear ambition to get Eden back to a much more profitable behaviour than what we saw during the soft launch; i.e. more in line with how she behaved on individual test accounts before the MAM setup was introduced in connection with the soft launch.
    (See previous news update from early March below on how the MAM setup had an unexpected and strong inhibiting effect on Eden's behaviour and how this affected trading patterns and profitability).

The company has a strong ambition to communicate with us as soon as possible. But first, especially item no 1 above must have reached a sufficient degree of maturity.
At that point, it is also likely that item no 2 has progressed to the point where there is some concrete news to share. As I said, there is a clear plan for their way forward, but they very much want to be able to share it when a lot of the more important pieces are actually in place and not just still in the shape of plans, ideas and work in progress.

To summarise: A lot of things are happening, and what was previously communicated about what it means still applies. We as a group just need to continue to be patient for a while longer and hopefully in a while we will get some interesting news.

// Svenska Forexgruppen  


Latest news - March 2024

Many of us have been trading Bitcoin (BTC) with the help of Eden for a few weeks, which as you know is done at the Liqudity One (L1) exchange.

On March 20th, Bitcoin (BTC) went down to a price level that, to us, when looking at the quoted price in L1, looked like the CSL / Hard Stop that is beyond Eden's reach should have been triggered.

Given what happened recently for our accounts that Eden handled at the Forex broker, where Eden's servers "burned up" (the processors broke down due to overheating) and the security stop also did not work, it is quite obvious and natural that concerns and speculations about whether there is something wrong with the stop on crypto as well would be sparked.

We have been in contact with "new MW" and asked for explanations as to why the stop was not triggered when it looked to us like we had reached the stop level.

The clear key conclusion is that there was NO failure of the stop function. We were very close to having it triggered, but we just made it. Moreover, the company's technical team was very active at all times and continuously monitored that everything was working as it should.

More details below.

The actual answer and explanation from the company can be found in this document sent to us (click here!).

You can see that it is a bit technical in nature, but it is still good to read the document first, i.e. now! 
Thereafter, please continue by reading our own summary below. We have also included more information and clarifications than in the linked document, which is the result of combining our own knowledge with new info received from asking a number of specific follow up questions to them, looking various clarifications.


To summarise in OUR own words, this is how things stand:

  • There is no centralised marketplace for crypto trading and thus pricing is not "perfect and equal" across every place where crypto is traded. This is a very well-known fact and not something to be questioned.

  • L1, and thus also Eden, has access to a very large number of different trading venues (crypto exchanges) and the pricing of crypto assets on these exchanges can thus differ significantly at any given moment.

  • The price that is displayed as the "current price" for BTC, for example, when looking at L1, e.g. under the "Trade" tab, is an average price from all the trading venues that L1 (and thus Eden) has access to. It is thus NOT the BEST PRICE available which is displayed. This is because it has been judged that the average price is usually the most relevant to display as there is simply no reasonable method to display all available prices that L1 has access to.

  • The CSL filter / Hard Stop acts on the best available price at any given moment, not on the average price that we see in front of us. The same applies to normal trading activities as Eden itself enters and exits positions.

  • Eden has a type of reference/parent account that she uses to make trading decisions, and to which the CSL filter is also applied.

  • The trading on our own accounts is NOT in the form of a MAM or similar as was the case for our multi-asset accounts in the broker-based trading. Here, we are instead using completely individual and independent accounts for each of us, where buy and sell orders are replicated from Eden's reference account. In principle, this is very similar to traditional copy-trading, which is often run on Forex. Thus, entry and exit prices for each of us may differ somewhat depending on how much liquidity is available at different price levels in the market at the moment Eden chooses to open or close a position.

  • If the CSL filter is triggered on the reference account, the positions will also be closed on our individual accounts.
    BUT: The CSL filter is also applied to each individual account, which means that if an individual account, which may have had a slightly worse entry price than others, reaches the CSL trigger level, then the positions will be closed specifically on that account even though other accounts may be fine. This is exactly what happened on 20 March; there was ONE customer whose account reached the CSL and the open position was closed as planned on that person's account.

  • CONCLUSION: The CSL filter has been working exactly as it should, and has been closely monitored by the company's technical staff at all times.


Other information relevant to CSL / Hard Stop:

  • Explanation of the principle of how the CSL/Hard Stop filter is implemented for Crypto trading, and why it is reliable.
    (The same security model will also be implemented on CFD trading via brokers when it resumes in a while).

  • Remember that trading crypto via L1 is so-called spot trading, where we trade the actual asset itself, i.e. we buy and sell the actual cryptocurrencies without any leverage applied. This is a big difference compared to broker-based trading where you trade with leverage on so-called CFDs. At L1, you cannot blow up your entire account, even if you do not have a CSL/Hard Stop filter, unless the value of the asset itself (BTC in our case) goes down to zero, which at present must be considered highly unlikely. With leverage trading on CFDs, however, you can blow your account LONG before an asset becomes worthless.

  • Since the dip on March 20th, the BTC price has turned upwards and we are still in the same position that was opened on March 13th, waiting for it to be closed in one way or another in the future. Until that happens, no new positions will be taken for any of us, nor for those who started trading after the current position was opened.


Why did Eden hold on to his purchased BTC position when the price turned so clearly downwards after the last purchase?

  • Unlike other automated products, Eden doesn't look blindly at just price movements in pips, $ numbers or candlestick patterns, but takes in a huge amount of information from countless data sources and draws conclusions about where the price is most likely to move. This includes major economic events, news reports and a large amount of economic data of various kinds.

  • Eden has a very large variety of strategy options at her disposal; thus a large toolbox of different behavioural patterns to choose from. Thus, she can act very differently at different times, regardless of whether the price movements appear to us to be very similar or very different to some previous occasion. This is the opposite of what some users have speculated in, namely that Eden seems to them to be a very simple and stupid automation function that acts just as amateurish as a human novice. The behaviour we have seen in this case may seem stupid from the outside, but there is a highly complex decision-making apparatus behind it that we have no insight into. Hopefully it will become clearer over time that Eden is acting in a profitable way in the long term.

  • As an example, let's take the situation we are in right now:
    Suppose that Eden is in a position (i.e. has bought BTC) and the BTC price suddenly starts to move significantly downwards as we saw in the days after she made her last purchase on March 13th. If she then still has a clear idea that a major upward movement is underway or still in progress, she may choose to maintain a position even in a rebound / correction move as we have seen now. Eden does this because she has judged that the probability is high that the decline is only temporary and that it is therefore likely that higher price levels will return relatively soon.
    We have not seen any other behaviour than this yet as we have been running this product for a relatively short time, and BTC has during that period mostly gone upwards. But from our dialogue with the company, it is clear that it is more common for her to choose to take a smaller loss than to "follow along deep down". The protection against things going completely wrong is the CSL filter as described above.

  • Eden closing positions continuously in an upwards move is mainly about securing profits and at the same time providing the opportunity to benefit from any downwards correction move, i.e. to be able to buy back BTC after a temporary dip. Sometimes this means that she manages to buy in a dip, sometimes it means that she buys back in around where she just closed, but either way, a profit has been secured. This is nothing strange in itself, but a normal dynamic trading pattern.

This MAM has now been completely closed out and there are no longer any open positions.

Anyone who has money left in their investor account should now transfer it to their BlackBull USD Wallet.

Eden's trading going forward will, as previously communicated, be moved to a new MT5-based environment and those of us who want to continue trading with Eden on CFDs (currencies, indices, gold etc with brokers) will be able to start over with new accounts later. We don't know any details about which assets will be traded initially after the move, nor whether it will be run on one pooled account or on multiple parallel accounts. We will provide more information on this later.

The move to MT5 is important in several ways, but above all it provides technical possibilities to implement security features in a way that was not possible in MT4.

The single most important technological change is also taking place right now:
Eden herself is being moved to a completely new server environment where she will be guaranteed the resources she needs to function properly. Most importantly, this will also prevent catastrophic hardware failures like the recent one that led to the breakdown of our trading accounts.

Otherwise, work continues behind the scenes to get everything else, apart from trading, back on track under the new company. This includes preparations for the official launch as well as compensating all of us who suffered losses on our accounts (see previous updates for more info).

During yesterday evening and the past night, the price of gold made another couple of strong rallies to new record levels. Unfortunately, this resulted in many (possibly all, we don't know yet) multi-asset accounts that previously had no realized losses also finally blew.

As we wrote in previous updates on what has happened since March 8th, this was one of the scenarios that could transpire. The other, which we all hoped for, was of course that the gold price would instead continue, and preferably accelerate, the downward movement we have seen over the past week, and that undamage accounts would therefore survive in the end. This unfortunately did not happen.

Concretely, regarding the way forward, nothing has changed, and what has been written in previous updates on the background to why this could happen, and on the company's plans to compensate for the extraordinary losses they have caused us, remains unchanged.

Read the updates from March 10th onwards here below on this page if you haven't already!!!

One specific thing we would like to comment on is the fact that we have all been unaware of the status of open positions on our accounts since the test period started at the end of October. This meant that we all certainly felt a lot of uncertainty about how things were going. Rightly so, as it has now turned out.

This secrecy was, as we have mentioned briefly in the Telegram Group, a direct consequence of the fact that the old management and owners of the company wanted it that way and forbade all employees to even whisper fractions of such information to anyone outside the company. The new owners and management who are now taking over the business have already, as one of the first concrete messages to us, announced that their information policy in the future will NOT contain the same type of secrecy surrounding trading status. On the contrary, this will be actively visualized via suitable methods. They have already announced that it will be displayed in logged-in mode inside the customer portal, but possibly it may be made visible in other ways as well, but that remains to be seen later.

Finally, we are still waiting to hear when the promised information meeting via Zoom with the new management/owners will take place. We all want it to happen as soon as possible so that everyone can hear about the situation and plans directly from them, but we also need to understand that their absolute highest priority is to ensure that the business can be continued under the auspices of the new company that will be set up in a very short time. At the same time, all operations plus all important technologies and other resources will also be moved in there, and in a way that is legally sustainable and robust in the long term. All this means that they are working extremely intensively, basically around the clock at the moment, and we simply need to respect that they need a little more time for these things before a meeting with us can be organized.

In the meantime, you can rest assured that we at Svenska Forexgruppen will communicate anything of importance that may come up before then. 

Recently, we have been extremely busy trying to sort out and understand the situation that we all find ourselves in, which of course in turn means that we have had to understand as much as possible of the situation that MW is in. The overall picture has become clearer bit by bit, day by day, and has been described in general in the last few days' updates that are published here below on this page. Read these if you have not already done so! Don't forget to read the documents official statements which are linked inside these news updates!

As you all hopefully have realised by now, we have been in very close contact with the company's representatives - the individuals who are now taking over and will take everything forward under new management. It has been a stressful situation, to say the least, for everyone involved, but we felt from an early stage that we quickly understood the basics of what had actually happened, as well as that we had a good dialogue that gave us a certain amount of hope early on, despite the pressured situation that everyone was in and all the emotions that affected us customers at the same time. This hope has since been strengthened day by day as the dialogue has continued and things have begun to clarify on the company's side as well.

We have already told you informally in our discussion forums that one of our most important goals with the talks with the company was to push for compensation for what happened as the circumstances were very special. However, anyone who has the slightest insight into the legal side of this industry knows that as soon as a company starts talking about compensation, it is like stepping into a legal minefield where you have to be extremely careful, not only in what you do, but also in what you say. If you take the slightest misstep, even with a few words uttered at the wrong time, you can end up in a situation that in the long run will sink the company permanently. Hence, it has so far not been possible for them to say anything at all about this, nor for us - except to tell that we are doing what we can from our side to push for a good solution for everyone involved.

Before the company, or we, could say anything at all of a more concrete nature about possible compensation for the incident, they needed to get clarity on the legal aspects, which is something that could potentially take quite a while due to the inherent complexity of the issue. Therefore, we are extremely pleased to be able to tell you that they have already now found a way forward that is completely in line with what we have wanted and worked for, and - as it turns out - they themselves have also from the start wanted to be able to implement. 

Read the latest official update here! (In English only.)

As already announced, we will organise a meeting via Zoom with the new management shortly so that everyone will have the opportunity to hear the summary of the situation in the management's own words directly from them, and you will have the chance to get answers to further emerging questions. Many of the questions we have received from you so far via the questionnaire and other messages can be considered largely answered by the updates in recent days, but of course we understand that new questions arise all the time. The company also has a number of remaining hugely important issues to work on. From our perspective, the most important thing so far has been to get some kind of answer regarding possible compensation. We have now received this, which is why we think it is reasonable to wait a few more days to hold the meeting so that they have time to sort out further matters and get through the most intensive period of getting things in order that are critical to getting everything on track for the future.

We will of course inform you as soon as the date of the Zoo meeting has been finalised.

We continue our ongoing dialogue with our contacts within the company, and they have now compiled a document for us that answers many of the most important questions at this time. Not all, but many, and this will hopefully contribute to a better understanding of what has happened and what is happening.

We are FULLY aware that new questions will arise when reading this. Please continue to write such questions to the company in the questionnaire we set up last Friday for this purpose.

We are also FULLY aware that one of the key areas to be clarified is "compensation for losses that should not have occurred". As can be seen in today's update from the company, there is a start to that. However, we ourselves are not yet satisfied, but we have specifically planned to discuss this issue thoroughly with them during the meeting we will have with them shortly. We have a concrete principle plan on how we think a compensation mechanism could be designed and they have promised to listen to us and discuss this with us.

Note: This is not the same as "everyone is hereby promised full compensation"!!!!

Our goal is definitely to convince the company that the proposed model should be implemented, but of course it is not for us to make such decisions, they have to do it themselves.

What we can say directly to all those who think that "the company should give us everything back right now" is that this is not possible even if they wanted to. That capital simply does not exist because, as you know, they have not yet launched and started earning their own money, but everything is financed by their own capital, and to some extent by our payments for the service.

It is therefore completely pointless to call for immediate compensation here and now. It will not happen. It CAN'T happen. You can think what you want about it, but for us it is more important to find a working method that ultimately both makes us customers happy and is possible for the company to handle than to demand something that can never be realised.

Read today's VERY IMPORTANT update from the company here! (English version only)

Last Friday, we suffered a major setback.

Eden on the Multi Asset account, i.e. trading on indices and gold via BlackBull, suddenly took a major loss during the night on the accounts that have been running since October 31st or earlier. What was closed was the already known old US30 position that we have been left with due to previously described reasons related to system changes during the soft launch period. We were aware that this was open, but did not know how large it was, but assumed that it remained within the framework of the maximum risk that the system as a whole should have. This turned out not to be the case.

The accounts that started later than October 31st did not have this trade and did not notice anything yet. Just over eight hours later, i.e. during the morning, a few more positions were closed, one on SPX500, one on NAS100 and two on gold. These were also in loss, although the gold positions were very small. Again, accounts which were opened more recently had not received these trades, so not all customers' accounts were affected still. However, it did hit hard on some accounts which had been active since October, as some of them at the time of closing number 2 were in such a bad position that they received a so-called 'margin call', ie a forced closure by the broker which meant that these accounts lost a very large part of the capital. Furthermore, we now know that there are additional positions open on our accounts that should not have been there still (see below for explanation) and the danger is therefore not yet over for the remaining capital on the accounts that have not yet been hit so hard.

This came as a great shock to all of us, and we immediately set about seeking information directly from MW, resulting in a number of surprising discoveries. It is extremely difficult to summarise everything in a comprehensible way here, and we do not yet have the full picture, but continue to work on obtaining more information. In short, however, it is a chain of events that have occurred; where the biggest problems are not really related to the trading itself but have completely different causes.

An important factor underlying much of what has gone wrong is internal problems inside the company. We don't know much detail or the underlying causes of this, but there have certainly been individuals who have acted in an extremely culpable manner, controlling, withholding and managing information and resources in a destructive way, effectively sabotaging the business and ultimately damaging Eden and its ability to operate. This was in addition to, and suddenly proved to be much more serious than, the other more "normal technical aspects" that had been worked on for some time and which we have already reported on. In concrete terms, these internal problems led to Eden being deprived of the necessary server resources without warning and thus suddenly overloading the remaining resources, whereby a number of processors simply "fried" and the hardware failed completely. This is not something that should ever happen if everything is managed correctly, but the management was not as it should be, and the consequence of this hardware failure was that trades taken recently could not be handled by Eden, and with ongoing aggressive price movements in the market, the drawdown then spiralled out of control, which eventually led to the aforementioned closure of positions at a loss.

So a lot of things, more than we can report here, have happened inside MW. Things that we only know about at a general level, and of which we had no idea until this Friday. To make a long story short, because of what has happened, a core group of the most important operationally responsible individuals in the company have decided to take control of the entire operation and effectively eliminate the destructive elements (individuals) from further participation in the operation. There is a very, very complex legal situation here that we do not have insight into, but we do know enough to say that this step would not have been possible to carry out before, but it is only now that a number of other legal criteria have been met that they can take action and carry out what we can call "a real purge".

Those who now take over the company are a close-knit group who together possess all the necessary competences and resources: Entrepreneurship, business management, general operational competence, support competence, relations with brokers & partners, and not least the so important technical competence and ownership of Eden and other relevant technologies.

At the same time, people who proved incapable of carrying out this project, and who in some cases hampered, and in some cases severely undermined, the whole project, are going away.

On Friday, MW themselves sent us a document they had drafted a few days earlier summarising the situation from their perspective before the closure of the first trade.

This document is available here! (English version only)

In connection with these changes, it will also be necessary for legal reasons to change the company name and branding. We do not know today what the new name will be.

We want to emphasise that we ourselves cannot verify with certainty the above information about what has happened within MW or what is happening now, but what we write here is entirely based on what they have told us in conversations and text dialogues. Thus, we cannot guarantee that everything is exactly like this, but we judge the information to be reliable and choose to reproduce it here in order to try to keep you all as well informed as possible.

We have had personal conversations with the people who are taking over, and whom we know from before, and in the midst of the shock of what has happened, we still, after having gathered ourselves and calmed down somewhat, have a clear hope that all this can be repaired in the end. Those who are taking over now have every intention of rectifying what has happened, they are listening, at least so far, to what we say is required to repair reputation, trust and confidence. So we really hope that over the course of the coming days we can reach a good agreement with them on this. Something that can also restore lost capital for all those affected. We cannot yet make any promises about where this will end up, but we CAN promise that we are doing EVERYTHING in our power to arrive at a good outcome.

At the time of writing, Sunday evening, we have begun to receive a little more information and had more interaction with the people in question. All in all, this confirms the impression from the previous conversations, that there is a tangible hope of being able to repair it all in the future. We are waiting for further information and will also have more meetings with them in the coming days when we hope to clarify all this, and we plan to organise a Zoom webinar with them for the entire community later in the coming week. Our strong hope is that the webinar will contribute to creating an understanding of what has happened and what will happen in the future,  what the future may bring, and partly also thus constitute the starting point of a "turn" back towards a belief in - both for YOU who read this and for US in Svenska Forexgruppen - that this whole project can be as good as we have long believed and hoped. Again, we cannot promise that this will be the case, we may fail in getting them to buy into what we put forward to them, and they may also fail in what they want to achieve in this new scenario. But hope is alive, and that is the most important thing for us at the moment anyway.

Clearly there are several questions that we do not yet have answers to, but we have communicated to MW that they must be answered and explained as soon as possible. This applies not least to why the intended capital security / stopout function did not work as promised and why manual intervention did not take place as a backup. We have received a partial explanation (see post in the MW-Telegram group), but are awaiting a more complete explanation in the coming week so we refrain from further discussion on this right now. However, this is clearly one of the most important issues to be clarified for the future as it is fundamental to be able to rely on a maximum risk level commitment. We know that MW knows our position here, so we look forward to an explanation of both the history and of future measures to ensure that it will work in the future - plus what they intend to do to ensure that we can also rely on it working in the future...

Finally, regarding Eden's trading on crypto, it is not affected by the above. Krypto-Eden runs on servers that are completely separate from multi-asset-Eden, and thus the crypto trading is still running normally and performing well.

More information will be published on this page as it becomes available to us.

Note: This text comes directly from Mobile Wealth's management team and is published by us (Svenska Forexgruppen) on their behalf.

Update by MW Management

We are happy to have Eden trading crypto this last week. There have been 10 trades, all positive. All clients are now able to sign up for the Crypto product. Liquidity One's KYC processor has completed their update and there shouldn't be any other issues regarding their acceptance of KYC documentation.

Clients will notice that there are some discrepancies between the Mobile Wealth member's area and the Liquidity One member's area. Liquidity One is currently working on correcting those issues and should be resolved shortly.

Eden has finished the simulations on how to update the cookie system that has caused trading to be less active than was shown before plugging in all Mam account data. Eden is ready to turn on the new cookie system as the servers are updated. This should be completed shortly. Once the server updates are completed, we will let all clients know. This will make more trades that will be active for shorter periods of time. This will mean getting more wins and losses.

We appreciate everyone's patience during the soft launch. We should see more activity and updates now that both simulations and crypto trading have been completed.

Latest news - February 2024

The crypto product is now up and running

The test group has now tested the system and the integrations between L1 and MW and it went really well, which now means that it is open to everyone who has a paid membership with Mobile Wealth to get started.

Some instructions on how to get started can be found in our FAQ and also in MW's own FAQ and we are currently working on a complete guide that will be published shortly.

In short, the following is required:

  • Have a paid membership with Mobile Wealth
  • Create an account with LiquidityOne (L1) and get it verified.
  • Deposit at least 1000 USDT to L1
  • Create an API key at L1 (be sure to save your security phrase).
  • Log in to MW and go to 'Trade Accounts' and then 'Add account' under crypto accounts.
  • Choose LiquidityOne
  • Paste your created API key in the first field.
  • Paste your security phrase in the second field.
  • Done

Risk settings

There are three levels of risk to choose from; 25%, 50% and 95%. Let's say you have 10,000 USDT in your account and choose risk 25%. This means that you will allocate 2500 USDT to buy Bitcoin per trade. Then, if Bitcoin rises by 10% while Eden has that trade open, your account will increase by 2.5% - 25% of the 10% increase. It works the same way with the other two risk levels.

To set the risk, go to 'Crypto Interface' and select your preferred risk from the list and finish with 'Update Settings'.

As mentioned, a full guide will be released shortly, so if you're unsure, it's better to wait for it. 


Regarding trades that not everyone got on the Multi Asset Account

Yesterday some people got a trade with an extremely small loss (a cent or two) on their Multi Asset Account. 

The explanation for this directly from MW:

"As we have been running simulations to get all of the data we need for the updates to Eden, we had a manual trade that shows us how she reacts. The trade was miniscule so most clients with small accounts wouldn't have gotten it. The largest accounts would have only lost a few cents. We now have the additional data on how Eden reacts so we can complete the plan for moving forward."

Note: This text comes directly from Mobile Wealth's management team and is published by us (Svenska Forexgruppen) on their behalf.


Non-Mobile Wealth update

Meta quotes has updated their MT4 platform to stop hackers from using unauthorised API's that may affect clients who have been duped by such companies that may stop them from being able to download a new MT4 platform or find any broker's servers, including BlackBull. If you are unable to download an MT4 platform due to this, please contact support@mobilewealth.io and we can help you. Please note, this has nothing to do with Mobile Wealth or BlackBull, but it has caused some clients challenges and we have spent considerable time finding a solution to this problem as we have not found any brokers that even know how to resolve this problem.


Mobile Wealth updates

     We are continually gaining incredible data to get us to final launch shortly. As of Monday, February 12, 2024, we are starting test clients on Liquidity One and should have the entire test group loaded by end of the week. We have integrated major collaborations between L1 and Mobile Wealth that will give clients access to unprecedented levels of trading inside of the crypto space.

     Other data being gained is how Eden is integrating into a MAM solution with changing data sets of new clients, new margins, new client data and how it all interacts with Eden's trading style and incentives. While Eden was tested live before soft launch, there was no way to integrate that live testing into a MAM solution outside of a simulates scenario simply based on the logistics of what a MAM is. As we have integrated into the MAM, we have seen Eden handle the incentives coded into the neural network in slightly different ways than in a simulated MAM. This has meant much less trade activity than expected but also no losing trades. We have found what data sets are causing this change in expected results and have been updating the incentive structure inside the neural network. The new incentive structure is showing results more akin to what was seen in the simulated trading before the live MAM of the soft launch. Please take note, the trading strategies of Eden have not changed. A new product is not being introduced. The incentives inside of the neural network are simply being realigned with Eden's core goals, so the nature of the live MAM will run more in accordance with simulated MAM results and live individual trade results previously seen. We are finishing up several simulated scenarios on the best way to integrate this change into the neural network. Making a change to the incentive programme is not as simple as changing code in a static computer programme. The dynamic nature of Eden is such that we are taking every care to not change the logic Eden has so fantastically created for trading.

     Speaking of the dynamic nature of a neural network and Eden's ability to adjust to new incoming data, our engineers have found places that Eden has been able to re-write the code to better allow Eden to reach the incentives originally placed but in a way that opens new possibilities that are not accounted for. Those possibilities haven't occurred, but we have brought in additional experts in neural networks on how to mitigate this. This stumbling block has been overcome but has taken quite a bit of time and resources on our end, so we appreciate your patience.

     Moving forward, we have a few expectations that aren't as thrilling as we would like them to be, but we feel are the best way to complete the integration of these changes to get back to the Eden that we were so used to seeing. It may take another two weeks or so for Eden to fully update to the new integrations and we may need to manually close some trades to do so. We are currently finishing up simulations on the best strategy that Eden is comfortable with. Any of the strategies will still line up with the previously stated limits and goals that Eden has been operating under, Eden's change of incentives and code notwithstanding.

     While we do appreciate everyone's patience, we do understand it is frustrating for everyone to not see the trading as expected, especially regarding closed trades and the ability to withdraw. We have addressed this in the ongoing updates. Please also note, as Eden has ramped up trade capability starting in January, the lot sizing is now orders of magnitude larger than Eden first started trading, so the situation is nowhere near dire. Of course, we would like to not have had any hurdles to overcome, but such is the nature of the soft launch of a neural network of such potential.


Status update from our recent meeting with Mobile Wealth

  • Why is Eden trading so little at the moment?

The current low activity level on Eden has EXTREMELY complex reasons. It is VERY VERY hard to explain in writing in a way which makes sense to the broad public, so this little attempt below, despite it containing quite a few words, is nothing more than a super brief comment on the topic.

It all boils down to that she is a neural network, constantly learning and adapting, while at the same time protecting everyone’s funds as the very highest priority.

We know some people claim (see recent post in the Telegram group) that we are making up bad excuses when talking about ”market conditions” as being one very important, although not the only, reason for low activity right now. They think, among other things that because ”their other robots are trading, there is nothing wrong with the market conditions, and therefore such a claim is just a bad excuse”.

Well, here’s where a ”traditional algorithmic EA/bot” and a neural network differ fundamentally. Traditional robots look at very simple things and trade according to what could be described as cookie baking recipes. They don’t look at the bigger global picture, which Eden does. Right now, the market is behaving in a way which NO-ONE has seen before; not Eden, not us, not professional traders. It’s new and uncharted territory. As a very simple example of this (simplified and far from the only aspect):


- US Stock Indices are at all time high levels, breaking new records frequently, and the latest bull run has lasted for several months without a reasonable retrace, and without real macro-economic fundamentals supporting such a continuous move. The market is heavily overbought, and virtually ”all experts” are since a good while back claiming and betting that it must go down soon but it has not done so yet, and in the process, Billions of Dollars have been lost by both retail traders and big funds since the market still continues upwards, against the most common bets.

- In parallel, Gold has also generally moved upwards, also setting new all-time-highs.

- Also in parallel, the US Dollar has generally stayed strong.

=> The simultaneous occurrence of these three phenomena is heavily out of the ordinary. It has been even more accentuated since the beginning of this year, and by the huge(!!!) real estate bankruptcy event in China (Evergrande etc) which should have affected the US markets negatively, but didn’t, which also does not make any real sense.

In summary, this means that ”markets are not behaving in a way which is familiar to professionals - and therefore not to Eden either”. Eden is thus at the moment classifying this as ’major market manipulation’ (a well-known behavior that the big players spend their time and money on in various situations), which means that ”the next move” is really really hard to predict.

Eden hates losing, and seeing that the markets are behaving strangely, compared to what she knows about historic behavior for decades back, she doesn’t feel as confident about trading right now as she did last year. Therefore, she stays out of the markets more often than entering them, especially on the Stock Indices. All the while, she is constantly learning about this new environment, and WHEN (not ’if’) she feels confident enough about her knowledge matching what the markets are actually doing (new knowledge developed and/or markets going back to more normal behavior) she will jump back in and trade again. But for now, she feels the risk that she could lose if taking a trade is bigger than she likes, and she is therefore much more cautious than usual.


  • A fun detail

One fun fact, albeit just a tiny little piece of it all, about how MW trains Eden to ”love winning and hate losing” is that they treat her a little bit in the same way as if they were training a dog: Whenever she closes a trade successfully, she is rewarded with a little addition of new server capacity. Whenever she closes a losing trade, a little server capacity is taken away. It might seem silly to us, but because she instinctively wants to have more capacity to become better over time, it works, just as when training a dog (”positive reinforcement” in that case). That’s one of the ways in which she learns to be cautious with our funds.


  • Is there something wrong with Eden, or with my setup, since she is trading so little now? Or has Eden been restricted by MW?

No, there is nothing wrong with her. Rather on the contrary. She is very very active in the background, but without showing it to us clients through active trading. You could say that she is at the moment more in ’learning mode’ than in ’trading mode’, by the reasons described (briefly and very simplified) above. Moreover, this is something she has decided herself, so she has not been ’sent to school’ by her caretakers at MW.

She is carefully observing and learning what is going on, building new internal algorithms and routines; testing them for herself, preparing for future active trading based on this new knowledge.


  • What about the fantastic results from last year that were shown to us in October? Why were they so good, and why the big difference now?

Firstly, those results were achieved on various standalone accounts (not MAM:s with hundreds of clients), which per definition means that certain parts of the environment Eden finds herself in was simpler, and she could learn and adapt more easily. Secondly, and much more important, was that during last year, the markets were behaving according to well-known patterns that Eden (and all the world’s human pro traders) were well familiar with, and knew how to handle. As described above, that is not the case right now, and Eden is therefore much more cautious, not wanting to step out on thin ice without first learning how the ice is built, or waiting for it to thicken. MW are still running Eden on multiple such standalone accounts, and the pattern is the same there: Accounts which last year achieved brilliant results are now seeing much more modest growth. So this is not unique to our MAM account. Keep in mind though that the trades that she DOES take, have so far been successful. All of them! Meaning that she is still selecting good trade setups; although not finding so many of them at the moment.


  • What about the old US30 trade from late October?

We have once again been interrogating MW about that old trade which has been raising many questions within the community. In summary, the size of that trade is several orders of magnitude smaller than the ’normal’ trade size that Eden is using now. Which is because at the time when it was opened, Eden was set to run at 5% of normal capacity. Thus, despite the brutal run-up of the US30 index since then, the situation is under control, and neither Eden nor MW are worried about it at the moment. Should the market continue its strong bullish run, there is readiness to deal also with such a situation.


  • Is that old US30 trade hampering Eden’s trading now? Is that a reason why she is trading so little?

Eden is basing her trade decisions on many many different things. One of those things is available margin on the trading account. Having an open trade in drawdown certainly affects the margin, but given its small size, it is not catastrophic in any way. It is estimated that the net impact of that trade is small, but it is impossible to say for sure without deeper investigation. In order to bring more clarity, MW is since a while back using Eden herself to run simulations, analyzing how she would have traded since January 8th if that old trade hadn’t been open. Getting results from that investigation will probably take some additional two weeks at least as it is a massive task to complete.


  • Status of MW back office updates?

FSI update: Most things are prepared and programming is ready. Right now, MW are waiting for a new API setup from the broker. Once that is obtained, the remaining updates should be quick, and several new functions will arrive, including trade history export and service package purchase receipt download.


  • Status of the crypto product?

Not so much to say at the moment. It is very close to being ready, but developers are still discovering various small issues that need to be fixed before they deploy the product to the initial testers’ group. The trading system itself is ready since a long time back; the remaining things are all about system integration and stability.


  • Will there be another Zoom webinar with MW representatives?

Yes, we hope to soon run another info and Q&A session of the same type as we did a few times during the autumn. This will once again feature Nathan and Isaac as was the case just before Christmas. Preliminary time frame is during the second half of February.


  • What is the status of the increase in minimum trading capital?

As was communicated earlier, the minimum deposited capital on the broker investor account will be raised to $5000 from the current $2500. This was supposed to happen mid this week, but due to some issues with crypto payments for some clients, MW has awarded us another two weeks to complete this for clients who already have created their accounts but not yet managed to purchase their MW service package and/or fund their BlackBull investor account.

=> New deadline is February 14th.


Latest news - January 2024

US30 account at BlackBull Markets will be closed down

This MAM Investor Account was originally intended to be used for separate trading of US30, but since US30 is now traded on the MultiAsset account, the US30 account will be closed shortly.

If you have capital invested in a US30 account, you don't have to worry about losing it, as it will automatically be moved to your USD Wallet at BlackBull. From there you can then either move it into your Multi Asset account or of course make a withdrawal and take the money home if you wish.

Liquidity One (L1) updates the security features on the website.

If you have an account with L1, you should have received, or will shortly receive, an email from them with instructions on how to activate/reset the so-called two-factor authentication (2FA).

It is VERY important that you follow the instructions in that email for your account to work in the future. If you do not, you will not be able to run MW trading ("Eden crypto") on the account.

Minumum capital requirement increase & new spots for the pre-launch
In line with the heads-up we were given by MW during the Christmas Special Q&A webinar on December 21st, the minimum capital needed to take part in trading with Eden on the Blackbull multi-asset account will be increased.
Currently, as you know, the minimum capital is $2500. This will be increased to $5000 at the end of January.
The reason for making this change is purely technical: The account was originally planned to trade one asset (Gold), but is now for various reasons trading four assets. This means that margin requirements increase which must be handled via making available a larger pool of capital.
MW are fully aware that there are interested people on the sidelines who have not yet decided, or been able, to take the plunge and become an active member of this pre-launch trading phase. In order not to disappoint those who have planned to join soon, but who haven’t yet done so, they have now opened up another 200 spots for new people to join at the current minimum capital level.
Those spots will be open until January 29th and the minimum capital required will thus stay at $2500 for this period. Thereafter, there will likely be another ”closed period", and most importantly, the minimum capital WILL be increased to $5000.
To be considered as having joined / being active, you need to BOTH have paid the MW fee for one year ($297) as well as opened and funded your Multi-Asset Investor Account at Blackbull Markets.
How to do this is described in our guides.
NOTE: There is no change to the minimum capital for the crypto product as far as we have been told. That remains at $1000.

Eden spreads her wings!

Since Eden's release on Monday night, things have started to happen:

  • Tuesday: 1 trade / 1.6% profit
  • Wednesday: 1 trade / 0.6% profit
  • Thursday: 4 trades / 2% profit

In total, about 4% profit so far this week. After profit split (cost of the service) thus about 2.4% profit.

In total, we have had 30 trades since the start of the test period, and so far not a single loss. An incredibly nice result up to this point. But we remind you that losses WILL come in the future.

We will henceforth count the performance statistics from 8 January, the day of Eden's release from her shackles, to get the most accurate picture of her capabilities.

Eden has >finally< been released on the multi-asset account at BlackBull Markets. The handcuffs are thus removed and we should soon start to see trades coming in more frequently than before during the test period.

We are still waiting for Eden to be released on the Liquidity One crypto account.

Latest news - December 2023

Happy New Year to Svenska Forexgruppen

Summary of the status and development of Mobile Wealth in 2023:

  • We at Svenska Forexgruppen have since the beginning of 2023 had a close dialogue with Mobile Wealth, collecting a lot of information and also continuously giving feedback to MW.
  • A community group for "early testers" was created on Telegram in June 2023, where we started disseminating relevant information to make it easier for curious people to participate.
  • A FAQ (Questions and Answers) page containing lots of important information, as well as a number of important quick guides, has been published in logged-in mode on our website: https://forexgruppen.se 
  • The first customers were also let into MW's system in June 2023, mainly to test the registration process.
  • The website and the customer portal were not yet ready in terms of structure, function or information content. Updates have been made continuously, but there are still some important things to be adjusted or added.
  • The Swedish Forex Group's work to actively clarify ambiguities, point out errors and problems and provide feedback to MW on things and phenomena that need to be improved will continue in the future as well. From the beginning of the year, we will switch to using our website to share relevant information instead of publishing everything in the Telegram group. However, the Telegram group will remain in parallel to enable discussion within the community.
  • In mid-October, trading with a first product via the Forex broker Black Bull Markets was activated for us in the early test group. The trade was active for just over a week and made a limited number of trades as it was heavily restricted from the start, but still made good results during those days. Since then, trading has been completely, or almost completely, suspended for the rest of 2023. This is because, thanks to the data gathered during the first week of trading, MW was able to identify a number of major system changes and upgrades that needed to be carried out before moving forward. Overall in 2023 we have had 25 trades and so far no losses. However, losses will certainly occur in the future as it is a natural part of all trading.
  • Mobile Wealth announced at the end of December 2023 that it is ready to activate trading with normal, non-restricted settings, starting sometime in January 2024 (8 January at the earliest). The expectation is that we will then see significantly more trading activity.
  • In early 2024, cryptocurrency trading via the Liquidity One crypto platform will also be activated.
  • A number of key updates to the MW website and customer portal will be implemented in late 2023 or early 2024, including the ability to export trading history from the customer portal.
  • A very important aspect to remember is that Mobile Wealth is still in a "soft launch" phase. This means a lot of things, but above all that there are a lot of business and technical things that are not yet ready. Information given at various times may also need to be changed over time as MW adjusts, adapts and prepares its concept for official launch. In short: uncertainty prevails!
    Those who are not comfortable participating under these conditions are encouraged to consider their own participation. Read more in this post on Telegram: https://t.me/c/1600225019/2869 
  • The date for the official launch of Mobile Wealth's services has not yet been determined, but we hope it will be in February 2024.
  • Remember that there is a translation function in Telegram if you have trouble reading English: https://t.me/c/1600225019/1/1478 

Meeting with Isaac, Nathan and the Swedish forex group community 231221

In the first part of January, Eden will be unleashed and work 100%.
Initially it was 5% and then 10-15% because Mobile Wealth (MW) needed to monitor the service space as Eden requires huge amounts of it. Due to the fact that the server space was proven to be insufficient, it has taken some time to update software and hardware because they absolutely did not want to run out of space. They hope not to encounter this problem again and things are looking really good. She is ready to fly and will function as before the soft launch. The problem right now is that they don't want to get Eden flying without being able to monitor her 24/7 over Christmas and they still have lots of bits to work on. However, there are still staff working on updates during Christmas.
So far we have had 22 trades without loss but expect losses when they open up.

Website updates:

  • The biggest update is export history which will hopefully be ready by New Year's Eve, otherwise a couple of days afterwards.
  • Eliminate duplications (links in the back office pointing to the same places, etc.).
  • An upcoming update is also the indicator in the MW backoffice so you can see if the account has any trades or not.
  • The support desk will also be able to reach out to the customer directly.

So why don't we have the same results as in the beginning - it will come.
Remember, the company doesn't make a cent unless we customers do. They are just spending lots of money right now. They want to get up and running as quickly as we do, but they care about our capital. Some other companies keep shovelling in people who pay upfront fees without the products delivering and meanwhile customers are losing their money on the platform. MW does not have a huge upfront fee but instead a performance fee, that speaks for itself.
Do you want to build an organisation or have a passive income? Create a passive income and not have to work hard recruiting, recruiting, recruiting, coercing and pushing to get people to join. MW wanted to build a model that works for the customer otherwise the company will not make any money.

Future online rooms with live traders will have a different fee due to professional traders being paid. There will be no profit sharing instead. There are also a number of other services in the pipeline.

What about the US30 trade, we don't comment on ongoing trades. Simply because Eden is comfortable with all the trades she monitors and she has different ways of handling trades depending on what the market is doing. We are looking at one thing and Eden at 9 million, if we don't trust her then there is no point in doing this.
However, if Eden had not been handcuffed due to lack of server space, the US30 route would still have been taken but handled differently so we would probably be out already. When she is released in full in January she will work her way out of it. If we look at Eden and US30 yesterday then she would have initiated 8 trades and all in profit. Gold, 9 trades with 1 loss.

Initial test on Liquidity One (L1). Coming pretty soon, early next year. The developer team is on holiday, they will be back on 8/1 and can implement first group and then the majority. It is really exciting how it has worked.
When can more people jump on crypto? - when MW is ready. The first group will start soon, then they should not stare at the result for months but just want to see the integration. Once the test group has started well and run for 3-4 days and everything looks good, everyone else can come in.
Crypto 100% from the beginning? Eden is running 100% and monitoring if the system can handle it. Need to see if the other servers can keep up. The limitation is in the servers and brokers, not in Eden.
They tested her on a live account and she wanted to make 170 trades in 4 hours and they had 80% profit.
Servers and brokers can't handle that kind of speed. They would like to see 5-10 trades per day and that's what the brokers can handle. And with that amount of trades, it's similar to what the results showed earlier. Everything is limited to the hardware in the market.
Starting with BTCUSDT only. If they add any other crypto later, it is to manage risk, to tighten the risk, to diversify. Not more business, just better business.
Will everyone get the same trades? Will be slightly different but over the month it should even out.
It cannot be exactly the same in this market.

MW is not accepting more people in the soft launch. There is enough on MW's table so no more can join at this time.
After official launch, it will be possible to bring more people on board. Eden does nothing different, it's the other communication between services, lawyers and everything else that takes time.

Multiple accounts in the same asset group? Possible but not at the moment. You would need several MW accounts in that case.
Multiple assets in the same brokerage account: Leave it as it is now. If the opportunity to change exists, they will look at the pros and cons.
Possible individual asset classes, there are not enough resources at the moment.

Is Eden AI? No, AI does not exist. She is a neural network which means dynamic and not static. Eden only gets better the more data she collects. Other companies have to collect data first to try to keep up.

The second broker (Prevail)? Yes, it will be available, and others are in the pipeline.

A little heads up that in the case of several different asset classes on the same account, they may need to increase the minimum amount to perhaps $5000 for anyone coming in later.

Official launch: Pushing for early February. Would really like it. They want it then more than we do (date subject to change).
Affiliate compensation plan, want to do it right. It needs to be in place for the official launch.

How much can you compound (interest on interest)? Depends on the size of the community.
When MW hits a certain volume, they may have to limit the number of people. They have to calculate these numbers. May even have to force people to withdraw profits. This is to protect brokers, customers and the company.
Today it is just a heads up with forced withdrawals and maximum numbers.

Can we deposit extra money in the account at any time? Even when trades are open? Yes, but you cannot withdraw until the account is without trades. Or you can, yes. But not just to try, no. So, yes you can get out but just to see if it works is unnecessary. If you want out, okay, you're out (out of the whole soft launch).
If you already tried to withdraw your money, you will have to resubmit it due to BlackBull updates, but please wait until the account has no trades, otherwise contact support. Normally there are no trades over weekends so after soft launch this will not be a problem. MW will announce when all trades are closed, but it may not happen until Eden runs at 100%.

Your funds are in your account, not MW's account.
The company does not earn a cent unless the customer does.
The end date of the annual fee will be postponed until 12 months after Eden goes 100%

Have a Merry Christmas and a Happy New Year.