Status Markets - FCA warns against offshore broker

The alleged online broker Status Markets poses as a secure platform for online trading. However, there is ample evidence that Status Markets is not above board. More and more traders report telephone terror, rip-offs and investment fraud in connection with Status Markets. All traders lost the money they had invested with Status Markets. Serious doubts are spreading. Meanwhile, many Status Markets investors are afraid that it is an investment scam. The Status Markets website has not yet been shut down. All Status Markets traders are wondering if they have become victims of investment fraud? And what can Status Markets investors do if the suspicion of investment fraud is substantiated? Will Status Markets traders get their money back? Does it make sense to file a criminal complaint against Status Markets with the police? Where can I get help with investment fraud?



Status Markets: False affirmations on!
What must the astonished prospective traders read on "Status Markets offers our traders an excellent choice of platforms. Trade the global markets from our MT4 platform or our unique web trader. Trade on any of your devices from all corners of the world. Trade the way you want, when you want. The Status Markets team is inspired by the vision of providing optimal investment opportunities for everyone. We firmly believe that every trader should have the opportunity to trade in a safe, efficient and reputable manner. It was precisely this conviction that led us to found this brokerage company in 2017. Since then, our mission has been to facilitate our investors' access to global markets. Ethical business practices, full transparency and the highest integrity, as well as constantly available customer service, are at the core of what we do." That's just one small passage of the implausible promises prospective investors find on Status Markets' website. Not one of these noble promises by Status Markets has been kept. Unhappily, the dubious business practices tend to make for unhappy investors and miserable experiences! 


Status Markets: Playing hide and seek with the domain entry!
Remarkable for the business practices of the Status Markets makers is that the website does not contain any imprint with full details of the legally responsible operators of the website. If you look at the corresponding domain data of the website, you will find no reference to the operators and discover that the website was only registered on 24.09.2020 and that the real domain owners are hiding behind the Icelandic anonymisation service Withheld For Privacy Ehf. 


Status Markets: Who is behind it?
Many investors will find it rather difficult to answer this question, as the Status Markets 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? On the website there is only sparse information about this. At the end of the website, there is the following note: "This site is owned and operated by MarCo Global projects LTD, Registration number: 106690, Address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960". The Trust Company Complex in Majuro is well known to financial intermediaries, as it is home to various shell companies that are involved in cybertrading.


Status Markets: Customer Acquisition by the Investment Fraudsters
The same procedure can be found here again and again: In order to acquire new customers, the offers of Status Markets are advertised in all conceivable media and channels. For example, advertisements are placed in the social media, such as Facebook. Again and again, this is false information. To increase the deception, they upload promotional films on YouTube or Vimeo in which interested traders 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 launched to motivate others to promote Status Markets.


Status 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. 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 assistance can supposedly be provided 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?


Status Markets: Repayment of money is tied 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 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 department! And of course the "saviour" also wants a small fee - in advance!


Status Markets: Scheme of Investment Fraud?
There is no authorisation of the online broker Status Markets. Status Markets lacks the legitimisation by 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. For this, there is a warning from the FCA. It is also evident that Status Markets is a scheme of capital investment fraud. All those harmed by Status Markets should be advised to consult an investment fraud lawyer immediately.


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


Status Markets: Investors want their money back!
The constellation is far more promising than it seems. The aggrieved investors can defend themselves and demand the return of the invested capital. At present, it is not to be expected that the investment fraudsters of Status Markets will be seized soon, but there is still reason for hope. The reason for this is the fact that the money transactions were carried out via accounts provided by financial institutions striving to maintain a good reputation. Their managers demonstrably failed to check the traders' deposits, some of which were large and therefore subject to controls, and their forwarding for illegality. Such omissions enabled the investment fraudsters to carry out their criminal activities in the first place.


Status Markets: They want their money back! How does it work?
Knowing this, the traders would never have got involved in an investment with Status Markets. Now the only option left to them is to seek redress for the damage. 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 with good prospects of success. First, essential questions have to be clarified. Where have the funds embezzled from Status Markets disappeared to? Can traders somehow get back the money they invested with Status Markets? What steps are necessary from now on? You can get the answers to these questions from a lawyer who specialises in investment fraud.


Status Markets: Who can help?
What to do in case of investment fraud? What help can victims of Status Markets hope for in the event of investment fraud? Victims of Status Markets will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your case with Status Markets both in terms of the criminal aspects of the 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 Status Markets.


Status Markets: Follow the money!
Resch Rechtsanwälte, an internationally active law firm for the protection of investors, has been pursuing abuses of this kind on the grey capital market for more than 30 years. In this sense, the way Status Markets works is nothing really new. Over the course of time, Resch Rechtsanwälte has developed an effective set of instruments for tracking down the evaded investments and tracing the money flows. Making funds disappear is becoming increasingly difficult in the age of the Internet. The more swiftly those affected follow the money trail, the better the chances are that they will get back the capital they invested. Now it is important that the traders harmed by Status Markets take action without delay.


RESCH Attorneys at Law - Experience in investor protection since 1986
If you have been a victim of Status Markets 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.