The alleged online broker Genix Markets sells itself as a decent platform for online trading. However, there is increasing evidence that everything at Genix Markets is far from straight. More and more traders are coming forward talking about telephone terror, rip-offs and investment fraud at Genix Markets. All of them have lost their money invested with Genix Markets. Doubts are spreading. Meanwhile, many Genix Markets investors are afraid that it is an investment scam. The Genix Markets website is still up and running. All Genix Markets traders are wondering if they have become victims of investment scammers? And what can Genix Markets traders do if the suspicion of investment fraud is confirmed? How do Genix Markets traders get their money back? Does it make sense to file a criminal complaint against Genix Markets with the police? Where can I get help with investment fraud?
Genix Markets: disreputable affirmations on the website www.genixmarkets.com!
What do surprised traders read on the Genix Markets website? "Genix Markets was founded in 2014. Our main goal is to provide every investor with the best possible opportunities for success in online trading. We believe that any investor can achieve consistent profitability in the markets by providing them with the best tools and resources to do so. We strive to keep pace with technological innovations in our industry because the success and future of our clients and our company rest on providing the highest quality service. From the trading platform, to the assets available for trading, to the customer service and payment options, we follow the highest standards to ensure that everything is always easily and conveniently available to you." This is just a small sample of the questionable claims traders will find on Genix Markets' website. None of these lofty promises made by Genix Markets have been delivered. Sadly, if anything, the suspect business practices make for disappointed investors and bad experiences!
Genix Markets: Hide and Seek Domain Entry!
Remarkable for the business practices of the Genix Markets makers is that the website does not contain any imprint with complete information about the legally responsible operators of the website. If you take a look at the corresponding domain data of the genixmarkets.com website, you will not find any reference to the operators there and you will find that the website was only registered on 06.03.2020 and that the real domain owners are hiding behind the anonymization service Domains By Proxy, LLC.
Genix Markets: who is behind it?
Answering this question will be rather difficult for many investors, as the Genix Markets makers do everything they can to conceal the true circumstances. However, this is not unusual, as the perpetrators often operate various 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 also in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? On the genixmarkets.com website, there is only sparse information about this. At the bottom of the page, for example, there is a reference to a presumed place of business in Kingstown, St. Vincent and the Grenadines. In addition, there is the obligatory support e-mail address and the British telephone number +441133283109.
The worldwide search for Genix Markets in the relevant registers leads to no result and makes it clear that this is a pure fantasy product.
Genix Markets: The customer acquisition of the investment cheats
Here again and again the same proceeding is found: In order to acquire new customers, the recommendations of Genix Markets are propagated in all conceivable media and channels. For example, advertisements are placed in social media, such as Facebook. Again and again, these offers are incorrect claims. To increase the effectiveness, they upload videos on Youtube or Vimeo, in which interested traders are convinced with invented 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". With the same goal in mind, an affiliate program is usually launched to incite others to start beating the promotional drum for Genix Markets.
Genix Markets: 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 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 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. 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?
Genix Markets: Repayment of the money is linked to conditions
However, an exit is then usually no longer possible, rather a repayment of the money is linked to further deposits. This is where the employees come in, claiming alleged tax debts and commission payments. These would have to be settled first, then it would come to the disbursement of the allegedly obtained profits. 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 these payments 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, but the investors are often permanently confronted with calls from other dubious providers, which indicates that the contact details of the investors are further traded among the investment scammers. In the end, the "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!
Genix Markets: Scheme of investment fraud?
There is no legitimacy of the online broker Genix Markets. Genix Markets lacks regulation by a recognized European financial 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 approval from the Swiss Federal Financial Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. It is readily apparent that Genix Markets is a scheme of capital investment fraud. All investors harmed by Genix Markets should be advised to consult an investment fraud attorney immediately.
Genix Markets: where do the scammers operate?
Certainly, Genix Markets traders are dealing with investment fraud in Germany, Switzerland and Austria. Unfortunately, Genix Markets' activities were not limited to the DACH region. Because Genix Markets also targets Arabic-speaking traders, it is only a matter of time before those defrauded by this group of speakers come forward. A look at the list of regulators is recommended before any financial commitment to reduce the risk of becoming a victim of investment fraud.
Genix Markets: Claims for damages against participating banks
A license from the German Federal Financial Supervisory Authority (BaFin) is a mandatory requirement for financial services and investment transactions in Germany. Doing, supporting or facilitating such business, even across borders into Germany, is prohibited. Persons who nevertheless participate in such transactions are liable to pay damages to the victims. The investment fraud cases would hardly have been feasible without such banks.
Genix Markets: Investors want their money back!
The mixed situation is far better than it seems. The aggrieved investors can defend themselves and reclaim invested money. As of now, it is not likely that the Genix Markets investment fraudsters will be caught in the near future, but there is still reason to hope. Hope because the money flowed through accounts provided by financial institutions striving to maintain a good reputation. It has been proven that they failed to check the traders' deposits, some of which were high and therefore subject to controls, and their forwarding for illegality. These failures made the investment fraud possible in the first place.
Genix Markets: They want their money back! How does it work?
Equipped with this knowledge, no one would have gotten involved in an investment with Genix Markets. Now the only option left for the defrauded is to seek recovery of the misappropriated capital. 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 crime of money laundering is committed. Financial institutions are obliged to take action against money laundering. This is where we come in if there is a good chance of success. To this end, essential questions must be answered. Where did the funds moved by Genix Markets end up? Are there realistic prospects that the bruised investors will get back the money they invested with Genix Markets? What actions are necessary from now on? You can get the answers to these questions from an attorney who specializes in investment fraud.
Genix Markets: Who can help?
What to do in case of investment fraud? What kind of investment fraud help can Genix Markets victims hope for? Genix Markets 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 Genix Markets 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 Genix Markets.
Genix Markets: Follow the money trail!
Such abuses on the grey capital market pursue the Anlegerschutzkanzlei Resch attorneys for more than three decades. As a result, the methods of Genix Markets are nothing really new. Over the decades, Resch Rechtsanwälte has developed a powerful range of instruments for tracking down the money that has been taken away and tracing the money flows. In times of the Internet, it is becoming more and more complicated to actually make funds disappear. The sooner those affected follow the trail of the money, the greater the chances that they will get back the capital they have invested. Above all, it is important that traders harmed by Genix Markets take immediate action.
RESCH Attorneys at Law - experience in investor protection since 1986
If you have become a victim of Genix Markets 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.