MaxiPlus - British FCA warns investors

16.05.2022
The apparent online broker MaxiPlus poses as an impeccable platform for online trading. However, there is increasing information that there are significant shortcomings at MaxiPlus. More and more traders are reporting telephone terror, rip-offs and investment fraud at MaxiPlus. All traders lost their money invested with MaxiPlus. Doubts are spreading. In the meantime, many MaxiPlus traders are worried that it is an investment scam. The MaxiPlus website is still accessible. All MaxiPlus investors are asking themselves whether they have become victims of investment fraud? And what can MaxiPlus traders do if the suspicion of investment fraud is substantiated? How do MaxiPlus traders get their money back? Does it make sense to file a criminal complaint against MaxiPlus with the police? Where can I get help with investment fraud?

MaxiPlus: Suspicious assertions on the website www.maxiplus.trade!
What are the perplexed investors on www.maxiplus.trade being led to believe? "When you trade with MaxiPlus, you get direct access to the most popular trading instruments, confidence in the security of your funds and the opportunity to use innovative technology. In all service phases, we adhere to the principles of transparency in trading and protection of clients' interests: their personal data and funds. We are not content with past successes, but are constantly expanding the range of our activities in view of the very different cultures and interests of our clients." This is just a small excerpt of the exaggerated assurances that curious people will find on the MaxiPlus website. Not one of these full-bodied promises by MaxiPlus has been kept. Regrettably, the dubious business practices rather make for disappointed traders and miserable experiences!

MaxiPlus: Bad experiences pre-programmed
Maxi Plus should not be confused with the fraudulent online brokers Maxitrade, Emarketstrade, OMC Markets or Algotrading. However, bad experiences were also made throughout with Maxi Plus Trade. For example, with Maxi Plus the login simply no longer worked and the support blocked the numbers of callers. Bitcoin acquired with Maxi Plus were lost. Apparently, these were sham transactions.

MaxiPlus: Hide-and-seek game with domain entry!
Remarkable for the business practices of the MaxiPlus makers is that the website does not contain any imprint with full details of the legally responsible operators of the website. However, this is a legal obligation for companies that directly address customers on the German market. Consequently, the operators of the website have a legal obligation to provide a summonable address of the owner of the website in the imprint. If these minimum requirements of the Telemedia Act are violated by the operators of a website, this is also a cause for concern. If one looks at the corresponding domain data of the website www.maxiplus.trade, one finds no reference to the operators there and finds that the website was only registered on 22.02.2021 NameSilo, LLC. and that the real domain owners are hiding behind the Caribbean letterbox company Seabreeze Partners Ltd. 

MaxiPlus: Who is behind it?
Many investors will find it rather difficult to answer this question, as the MaxiPlus makers do everything they can to conceal the true circumstances. This is not unusual, however, as the perpetrators often operate several of these websites with the supposedly same business model and quickly put them online, but also shut them down again just as quickly. In many cases, the top-level domain is also frequently changed, possibly in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? The website www.maxiplus.trade only gives the following information: "Seabreeze Partners Ltd. 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica 2020 IBC 00062." Dominica (officially Commonwealth Dominica) is an island state in the Lesser Antilles in the eastern Caribbean, which is very popular with offshore companies because of its lax legislation and is often used by criminals for letterbox companies. However, 8 Copthall in Roseau is well known to financial investigators, because various shell companies that are involved in cybertrading still reside here.

MaxiPlus: The customer acquisition of the investment scammers
The same procedure can be found here again and again: In order to gain customers, the recommendations of MaxiPlus are presented in all available media and channels. For example, advertisements are placed in the social media, such as Facebook. Often, these recommendations are false information. Furthermore, they upload image films on Youtube or Vimeo in which interested parties are convinced with false references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a misleading reference to the TV show "Die Höhle der Löwen". In parallel, an affiliate programme is often started to motivate others to beat the advertising drum for MaxiPlus.

MaxiPlus: FCA warning
When researching online, one relatively quickly comes across a warning from the British Financial Markets Authority (FCA) dated 23.08.2021, according to which the website www.maxiplus.trade is a clone company: "Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:
MaxiPlus (clone of EEA authorised firm)
Address: 8 Copthall, Roseau Valley, DOMINICA, 001512
Telephone: +34932207163, +447775332415, +447309878922, +447490849080
Email: complaince@maxiplus.com,
laura.mai@maxiplus.trade
Website: maxiplus.trade, maxiplus.cc
Be aware that scammers may give out other false details or mix these with some correct details of the registered firm. They may change contact details over time to new email addresses, telephone numbers or physical addresses."

MaxiPlus: Warnings from other supervisory authorities
And also when searching for Seabreeze Partners Ltd. one quickly comes across a warning from the German financial market supervisory authority BaFin dated 29.04.2021 as well as from the financial market supervisory authority in Austria FMA dated 30.06.2021. Interestingly, the trading platform ProfitAssist is mentioned here, which is already well known for investment fraud on the internet. "By decision of 19 April 2021, BaFin ordered Seabreeze Partners Ltd, Dominica, to immediately cease unauthorised proprietary trading. The company opens trading accounts for clients on its trading platform profitassist.io. Foreign exchange, shares, indices, commodities as well as derivatives, in particular CFDs, are to be traded via the accounts. The company itself becomes a contracting party to the trading orders placed by its customers via the trading accounts and offers prices set by itself for this purpose. The company thus provides proprietary trading on a commercial basis pursuant to § 1 paragraph 1a sentence 2 no. 4 lit. c) German Banking Act (KWG). Seabreeze Partners Ltd. does not have the licence required under section 32 (1) KWG and is therefore acting illegally.

MaxiPlus: Updates to the warning notices
09.06.2021: According to documents now available to BaFin, clients of the trading platform are now being contacted by email with the subject "Information on compensation for victims of fraud (Blockchain LTD)" and requested to pay alleged commission and tax claims. The communications do not originate from the UK Financial Services Compensation Scheme (FSCS) as claimed, the letters bearing the logo of the FSCS are forgeries. BaFin clarifies that the FSCS does not send such payment requests.
30.06.2021: Information received in the meantime indicates that Seabreeze Partners Ltd. now also operates an online trading platform under the internet presence maxiplus.trade. The prohibition order of 19 April 2021 also extends to this website and to any other websites for which Seabreeze Partners Ltd. specifically addresses investors resident in Germany in order to offer services requiring a licence.
09.08.2021: In the meantime, BaFin has received further information according to which Seabreeze Partners Ltd. now also operates the online trading platform simpleway.trade under licence.
07.10.2021: BaFin has now become aware that employees of the maxiplus.trade platform are sending interested parties a forged "trading licence" from BaFin. This states that a "licence to carry out brokerage activities" has been "granted" in favour of "Maxis GBN. The supervisory authority clarifies that it does not issue such documents. Already on 15 September 2021, BaFin warned on its homepage against these fake trading licences.
08.10.2021: In the meantime, BaFin has received further information that Seabreeze Partners Ltd. is also responsible for the online trading platform igfb.one. The operators of clone companies regularly make unlawful use of the name and identity of real companies. By assuming the identity of a real existing company, they try to gain the trust of investors and thus increase their willingness to pay.

MaxiPlus: Criminal business practices!
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and their satisfied customer base. In many cases, however, the makers of this business model are suspected fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Traders usually start with a small amount of money. Beforehand, investors are often motivated to install remote maintenance software, such as Anydesk or Teamviewer, on their computers so that they can supposedly receive help with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?

MaxiPlus: Repayment of the money is tied to conditions
However, an exit is then usually no longer possible; rather, repayment of the money is linked to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. These would first have to be settled, then the alleged profits would be paid out. For this purpose, tax and commission invoices are sent to the investors, which are often decorated with fake coats of arms and, of course, have to be paid urgently. However, it is never possible to offset them against the supposedly achieved profits. If one refuses to make these further payments, the supposed profits are often turned into losses and the customer is harmed to the maximum. However, this is usually not the end of the horror; investors are often permanently confronted with calls from other dubious providers, which indicates that the investors' contact details are further traded among the investment scammers. In the end, the "saviour" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course the "saviour" also wants a small fee - in advance!

MaxiPlus: Scheme of investment fraud?
There is no regulation of the online broker MaxiPlus. MaxiPlus lacks the legitimacy of a recognised European supervisory authority, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is often used by brokers. Likewise, there is no authorisation from the Swiss Federal Financial Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. Instead, there is a warning from the FCA dated 23.08.2021 against the cloning of the MAXIS GBN. It is also obvious that MaxiPlus is a scheme of capital investment fraud. All investors harmed by MaxiPlus are advised to consult an investment fraud lawyer as soon as possible.

MaxiPlus: Where are the investment fraudsters active?
Unfortunately, the illegal activities of MaxiPlus were not limited to the English-speaking world.  The illegal activities of MaxiPlus are by no means limited to the DACH region. Because MaxiPlus also addresses traders in Poland, it is only a matter of time before those who have been defrauded contact them from there as well. A look at the list of supervisory authorities is advisable before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.

MaxiPlus: Investors want their money back!
Fortunately, the situation is more promising than it seems. The aggrieved investors can take legal action against those involved in the investment fraud and demand their invested capital back. At present, it is rather unlikely that the MaxiPlus investment fraudsters will be apprehended soon, but there is nevertheless reason to hope. The reason for this is the fact that the money transactions took place via accounts that were actually provided by reputable financial institutions. They demonstrably failed to check the traders' deposits, some of which were large and therefore subject to controls, and their onward transmission for legality. Such omissions made the investment fraud possible in the first place.

MaxiPlus: They want their money back! How does that work?
With this knowledge, no trader would have got involved in business with MaxiPlus. Now the only way left for them is to seek compensation for the loss. Many investors cannot even imagine that there is any real chance of ever seeing their money back. Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering". When investment fraudsters collect money, the offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where we start if there is a good chance of success. To this end, relevant points should be clarified. To which destination did the funds moved by MaxiPlus end up? Can investors somehow get back their capital invested with MaxiPlus? What precautions are now obligatory? Such questions can best be answered by a lawyer specialising in capital investment fraud.

MaxiPlus: Who can help?
What to do in case of investment fraud? What help can victims of MaxiPlus hope for in the case of investment fraud? Victims of MaxiPlus will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your MaxiPlus case both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading also comes into question, because he is also familiar with the methods of fraudulent brokers such as MaxiPlus.

MaxiPlus: Follow the money!
The internationally active investor protection law firm Resch Rechtsanwälte has been pursuing such abuses on the grey capital market for more than three decades.  As a result, the MaxiPlus approach is nothing really new. Over the decades, Resch Rechtsanwälte have developed effective and powerful tools for tracking down the misappropriated sums of money and tracing the money flows. Making funds really disappear has become very difficult in the age of the Internet. The faster those affected follow the money trail, the greater the likelihood that they will get back the capital they invested. Now it is important that investors who have been harmed by MaxiPlus react immediately.

RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of MaxiPlus and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.