BexStock - BaFin warns against unregulated broker

The supposed online broker BexStock claims to be a reputable platform for online trading. However, there is more and more information that BexStock does not run smoothly. Reports from traders about BexStock are accumulating, which speak of telephone terror, rip-offs and investment fraud. Many have lost their money invested with BexStock. Serious doubts have been raised. Meanwhile, many investors of BexStock are afraid that it is an investment fraud. All BexStock investors are wondering if they have become victims of investment scammers? And what can BexStock investors do if the suspicion of investment fraud is confirmed? Will BexStock investors get their money back? Does it make sense to file a criminal complaint against BexStock with the police? Where can I get help with investment fraud?




BexStock: Unbelievable statements on!
What do surprised visitors have to read on "BexStock's founding member has completed its 43rd year as a broker dealer with more than $9 billion in consolidated equity...Our mission remains unchanged: Create technology to provide liquidity on better terms...Compete on price, speed, scale, diversity of global products and advanced trading tools" and "Founding member of BexStock has completed its 43rd year as a broker dealer with more than $9 billion in consolidated equity. Our mission remains unchanged: "Create technology to provide liquidity on better terms. Compete on price, speed, scale, diversity of global products and advanced trading tools." These are just a few excerpts of the implausible claims investors can find on BexStock's website. Not a single one of these lofty promises made by BexStock has been kept. Regrettably, the suspect business practices tend to make for unhappy investors and bad experiences! Many investors wonder how they can delete their account(s) after logging in to realize their profits. It doesn't work! Why is that? And who is behind BexStock?


BexStock: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the BexStock makers is that the website does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If you take a look at the domain data of the BexStock website, you will not find any information about the operators. However, one learns that the domain was registered only on 08.02.2021 with PDR Ltd. The real domain owners hide behind the US anonymization service Privacy Protect, LLC.


BexStock: Who is behind it?
Answering this question will be rather difficult for many investors, as the BexStock makers do everything to conceal the true circumstances. However, this is nothing unusual. The perpetrators mostly operate several of these websites with the same fraudulent business model. These are created in advance, quickly put online and just as quickly shut down. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? There is only sparse information about this on the BexStock website. And who is the operator? The website lists four alleged business addresses spread around the world, including one in Germany at Neue Mainzer Str. 46-50, 60311 Frankfurt am Main. However, after a brief investigation, one finds that this is located in the middle of the banking district in Frankfurt am Main. There is nothing to indicate that BexStock can be found in this building complex. Furthermore, one finds the following information in the supposed imprint of the website: Registration No. / Unique Entity Number: 200510018K BS ASIA PTE. LTD. (the "Business") is a Private Company Limited by Shares, incorporated on 20 July 2005 (Wednesday) in Singapore. This information is already classified as false by BaFin and thus once again it becomes clear that the intentions are fraudulent. In the further course of the imprint also the AGB's are found, which however from the same always repeating text passage together-row. In addition, there are the obligatory support email addresses and the two phone numbers +4969224400 for Germany and +448000933633 for England. 


BexStock: The customer acquisition of the investment scammers
Here the same procedure can be found again and again: In order to acquire new customers, the offers of BexStock are promoted in all possible media and channels. Often this is false information. To reinforce the deception, they upload films on Youtube in which interested investors are convinced with fictitious references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with the erroneous reference to the TV show "Die Höhle der Löwen". At the same time, an affiliate program is usually started to motivate others to beat the advertising drum for BexStock.


BexStock: 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 satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually the investors start with a small sum as employment. Beforehand, investors are also often motivated to install remote maintenance software, such as AnyDesk or TeamViewer on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters also frequently 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. In some cases, even small sums are returned in order to lull investors into a sense of security. Who then does not want to further increase the stakes? But what happens next?


BexStock: repayment of money is subject to conditions
Once in, exit is mostly impossible. Rather, the administrators of the investment scammers tie a repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits, is never possible. If an investor refuses further deposits, alleged profits are converted by senseless transactions into losses and the customer maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "savior" 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 "savior" wants a small fee - in advance!


BexStock: scheme of investment fraud?
There is no regulation of the BexStock trading platform. BexStock lacks authorization from a recognized European regulator, 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 authorization from the Swiss Financial Market Supervisory Authority (finma), which is responsible for Switzerland, or the Financial Market Authority (FMA) of Austria. For this, there is a warning from BaFin dated 28.05.2021. It is also obvious that BexStock is a scheme of capital investment fraud. All investors harmed by BexStock are advised to contact an investment fraud lawyer immediately.


BexStock: warnings from regulators
It is therefore also not surprising that the German financial market supervisory authority BaFin issued the following warning on May 28, 2021: "Pursuant to Section 37 (4) of the German Banking Act (Kreditwesengesetz, KWG), BaFin clarifies that the websites operated under by BS ASIA PTE. LTD. of Singapore, an online trading platform for financial contracts for differences on shares, commodities, indices, crypto values and other financial instruments, does not have a license to conduct banking business or provide financial services. Contrary to the operators' claims, there is also no connection with the financial services institution CMC Markets Deutschland GmbH, which is supervised by BaFin. Rather, it is the successor to the trading platform, which is also operating without authorization and which BaFin has prohibited from operating. The operators then tried to convince their customers of their seriousness with a fake letter from BaFin. Previously, the trading platform had appeared under the domain and had also falsely claimed to be a wholly owned subsidiary of a financial services institution supervised by BaFin."


BexStock: where do the fraudsters operate?
Certainly, BexStock investors are dealing with investment fraud in Germany, Switzerland and Austria. BexStock's illegal activities were by no means limited to German-speaking countries. Since BexStock is equally targeting English-speaking investors around the world, it is only a matter of time before these defrauded traders come forward as well. Going through the list of regulators is advisable before making any financial commitment to reduce the risk of becoming a victim of investment fraud.


BexStock: Claims for damages against participating banks
In Germany, it is prohibited to provide financial services and investment transactions without a permit from the Federal Financial Supervisory Authority (BaFin). Doing, supporting or facilitating such business, even cross-border into Germany, is prohibited. Persons who nevertheless participate in such transactions are liable to pay damages to the persons concerned. These investment fraud cases would hardly have been feasible without such banks.


BexStock: Investors want their money back!
The circumstances are far more promising than it seems. The injured parties can take action against the investment fraud and reclaim their invested capital. As of now, it is rather unlikely that the investment fraudsters of BexStock will be seized soon, but there is still reason to hope. Hope because the funds flowed through accounts that were actually provided by reputable financial institutions. They obviously failed to check the investors' deposits, some of which were high and therefore subject to controls, and their forwarding for illegality. Such omissions enabled the investment fraudsters their criminal work only.


BexStock: They want their money back! How does it work?
With this knowledge, no one would have agreed to do business with BexStock. Now the only option left for the deceived is to seek compensation for the loss. Many investors cannot even imagine that there is any real chance of ever seeing their money back. Presumably all of them are now wondering whether they can get 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 crime of money laundering is committed. Financial institutions have a duty to take action against money laundering. This is where one starts with good chances of success. In this regard, relevant points must be clarified. To which destination have the funds embezzled by BexStock been taken? Is there a chance that the bruised investors will get back the money they invested with BexStock? What precautions are required now? An attorney specializing in investment fraud can provide comprehensive answers to these questions.


BexStock: Who can help?
What to do in case of investment fraud? What help in the case of investment fraud can victims of BexStock hope for? BexStock victims will ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your BexStock 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 is also a possibility, because he is also familiar with the methods of fraudulent brokers, such as BexStock.


BexStock: Follow the money trail!
Such abuses on the grey capital market have been pursued by the investor protection law firm Resch Rechtsanwälte for more than three decades. As a result, the methods of BexStock are nothing new.    Over the decades, Resch Rechtsanwälte has developed a powerful set of tools for tracking down misappropriated investments and tracing the flow of funds. Making funds really disappear has become almost impossible in the age of the Internet. The more swiftly investors follow the money trail, the better the chances are that they will see their invested capital again. Above all, it is important that investors harmed by BexStock take action without delay.


RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of BexStock and want to know if and how you can get your money back, call 030 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.