MeteorTrade - FCA warns against cloning

The alleged online broker MeteorTrade sells itself as a serious platform for online trading. However, there is ample evidence that everything at MeteorTrade is by no means straightforward. More and more traders are reporting telephone terror, rip-offs and investment fraud at MeteorTrade. All of them have lost the capital they invested with MeteorTrade. Serious doubts are being expressed. In the meantime, many MeteorTrade investors are afraid that it is an investment scam. All MeteorTrade investors are asking themselves whether they have fallen victim to investment fraudsters? And what can MeteorTrade investors do if the suspicion of investment fraud is substantiated? Will MeteorTrade investors get their money back? Does it make sense to file a criminal complaint against MeteorTrade with the police? What help is available in the event of investment fraud?



MeteorTrade: Doubtful assertions on the website!
What do the perplexed investors have to read on "Whatever your vision of events in the financial markets, MeteorTrade allows you to apply your own strategy and profit from your predictions" This is just a small sample of the questionable claims that the curious find on MeteorTrade's website. Not a single one of these given assurances by MeteorTrade has been kept. Unfortunately, the questionable business practices tend to make for unhappy investors and miserable experiences!


MeteorTrade: Hide-and-seek domain entry!
Remarkable for the business practices of the MeteorTrade makers is that the website does not contain an imprint. Thus, the full details of the legally responsible operators of the website are missing. If one takes a look at the domain data of the MeteorTrade website, there are no references to the operators. However, one learns that the domain was not registered until 26.04.2021 with NameSilo, LLC.


MeteorTrade: Who is behind it?
Many investors will find it rather difficult to answer this question, as the MeteorTrade makers do everything they can to conceal the true circumstances. However, this is nothing unusual. The perpetrators usually operate several of these websites with the same fraudulent business model. These are created in advance, quickly put on the net and just as quickly shut down. The top-level domain is often changed to deceive the financial supervisory and law enforcement authorities. But who is the operator? On the MeteorTrade website there is only scanty information about this. Although the company Incendiary Group Ltd with the business address 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica is given, the makers of MeteorTrade cannot be found under this address. In addition, there is the obligatory support e-mail address and the telephone number +447405631681. A worldwide search for MeteorTrade in the relevant registers leads to no result. This makes it clear that this is a purely imaginary product.


MeteorTrade: The customer acquisition of the investment scammers
The same approach can be found here again and again: In order to win customers, MeteorTrade's offers are advertised in all available media and channels. Most of the time, these offers are false claims. To increase the deception, they upload films on Youtube or Vimeo in which interested investors are convinced with fictitious 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". At the same time, an affiliate programme is often started to spur others to advertise intensively for MeteorTrade.


MeteorTrade: 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 many 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. Investors 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 manipulated afterwards 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?


MeteorTrade: Repayment of money is subject to conditions
Once in, it is usually impossible to get out. Rather, the administrators of the investment scams tie a repayment of the money to further deposits. This is where employees come into play who claim alleged tax debts and commission payments. If these are settled, the alleged profits are paid out. The perpetrators send investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. It is never possible to offset them against the alleged profits. If an investor refuses to make further deposits, supposed profits are turned into losses through senseless transactions and the client is damaged to the maximum. The horror does not end there, but investors are permanently confronted with calls from other dubious providers. This indicates that the investors' contact details are traded on among the investment fraudsters. In the end, a "saviour" regularly calls 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 "rescuer" also wants a small fee - in advance!


MeteorTrade: Scheme of investment fraud?
The MeteorTrade trading platform is not authorised. MeteorTrade 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 frequently used by brokers. Similarly, there is no authorization from the Swiss Federal Financial Supervisory Authority (finma) or the  Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is a warning from the FCA dated 20.10.2021 due to cloning. It is easy to see that MeteorTrade is a scheme of investment fraud. All victims of MeteorTrade are advised to consult an investment fraud solicitor immediately.


MeteorTrade: Where are the fraudsters active?
Unfortunately, MeteorTrade's illegal activities are not limited to the English-speaking world. Because MeteorTrade also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this speaker group also come forward. Going through the list of regulators is recommended before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.


MeteorTrade: Investors want their money back!
The circumstances are far better than they seem. The victims can defend themselves and reclaim their invested capital. As of now, it is not expected that the MeteorTrade investment fraudsters will be apprehended soon, but there is nevertheless reason for hope. The reason for this is the fact that the money transactions took place via accounts provided by reputable banks. These obviously failed to check the investors' deposits, some of which were large and therefore subject to controls, and their onward transmission for legality. Such omissions enabled the investment fraudsters to carry out their criminal activities in the first place.


MeteorTrade: You want your money back! How does it work?
Equipped with this knowledge, no one would have got involved in an investment with MeteorTrade. Now the only option left for the defrauded is to try to recover the misappropriated capital. Many investors cannot even imagine that there is a real chance of ever seeing their money again. Probably all of them are now asking themselves 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 offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where one starts with good chances of success. Essential points should be clarified in advance. To what destination were the funds moved by MeteorTrade? Is there a realistic chance that the victims of the investment fraud will get back the money they invested with MeteorTrade? What precautions should be taken next? A lawyer specialising in investment fraud will be happy to answer such questions thoroughly.


MeteorTrade: Who can help?
What to do in case of investment fraud? What help can victims of MeteorTrade hope for in the event of investment fraud? MeteorTrade victims will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your MeteorTrade 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 MeteorTrade.


MeteorTrade: Follow the money trail!
The internationally active investor protection law firm Resch Rechtsanwälte has been pursuing such abuses on the grey capital market for over 30 years. In this respect, MeteorTrade's approach is nothing really new. Over the decades, Resch Rechtsanwälte has developed powerful tools for tracking down defrauded investments and tracing the flow of funds. In times of the internet, it has become almost impossible to make funds really disappear. The sooner investors follow the money trail, the greater the chances that they will get back their invested capital. What is important now is that investors who have been harmed by MeteorTrade take action immediately.


RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of MeteorTrade 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.