Beware! Fond Max Invest is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
We can never confuse Fond Max Invest for anything but an illegitimate broker. Almost everything about this company just screams that it is unregulated. This is a very typical textbook fraudulent broker, down to the final detail. Just by looking at it, we can detect a couple of very indicative signs. The first one is the third party chart that we find on the homepage and other sub sections of the website. A more ambiguous reason why the broker is is ultimately unregulated is the way that the website is structured. It follows a certain pattern that we are very familiar with because we review unregulated brokers beers and this way of constructing things usually results in something that looks and feels like Fond Max Invest. Read the review for other reasons why the broker is not worth your money.
Registering was as simple as filling a couple of empty fields in 10 seconds. We were let into a user area afterwords. This tells us that just about anyone can enter and invest, making this broker even more dangerous. The ease with which users can enter is a very well-used prop by scammer brokers.
The area was something that we expected to find, but we did not really expect to experience a complete lack of trading software. You wont get into details now why there is no trading software but users and readers should know that this broker does not offer training conditions.
There are no spreads, no leverages, and no financial tradable instruments. So what kind of a broker business is this?
The website is available in English only.
FOND MAX INVEST REGULATION AND SAFETY OF FUNDS
Unfortunately, none of the addresses and registration information is true, not that there is a lot to talk about. In fact, there is a very limited pool of regulatory and contact information to work with.
The only thing that’s the broker truly says about itself is that it is registered somewhere in the UK. However, being registered is simply not enough to be offering legitimate forex services. In order to complete the cycle, a broker must absolutely be regulated. The UK has the FCA to oversee and issue FX licenses to potential brokers. Fond Max Invest is not such a broker as it looks all the potential. It is not regulated in the UK in thus offers illegal trading services.
Fond Max Invest is unregulated and a risk to all investments.
Investing in unregulated brokers is basically throwing your money out of the window. They will very rarely return your money, and even if that happens it would cost the user an incredible amount of headache and time.
That is why we encourage users to only trade with regulated brokers. Please, once you enter a broker that you think is worth investing in always check for a license before doing anything else.
We recommend UK, EU, US, or Aussie brokerage firms. All such regulated brokers are very trustworthy and offer safe and secure trading grounds.
Furthermore, agencies like the FCA and CySEC offer user compensation funds that are applied only when the broker at hand is not able to pay back to user due to insolvency. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
FOND MAX INVEST TRADING SOFTWARE
The reason why we conclude that there is no training software is that there really is no trading software. Upon opening the user clients are given access to a third-party chart, owned by TradingView, the most popular third-party graph provider. Its trading conditions have nothing in common with the actual trading conditions offered by Fond Max Invest, not that it actually offers something.
Therefore the broker does not offer its own trading conditions nor its own trading software. It’s a simple as that.
FOND MAX INVEST DEPOSIT/WITHDRAW METHODS AND FEES
According to the user area clients can invest as low as $1 into the following gateways: A bitcoin wallet, it credit card, an ethereum wallet, a bank account. Withdraws, according to the user area, or also achieved by means of the aforementioned payments methods.
But please note that we opened a simple standard account which means that other account types might have different minimum deposit requirements. However, the website is very inconsistent with the payment information and claims that the standard that counts type minimum deposit requirement is $2,000, which obviously is not.
According to the legal documents withdrawals take up to 5 days to process. There is also a 3.5% fee applied to all withdrawals. If the sum is lower than $30 then the default commission will be $30.
As you have seen, there is absolutely no reason for investing in Fond Max Invest. This broker is the full unregulated package.
How does the scam work?
It’s almost ironic that’s one of the most popular ways to get scammed by a forex investment fraud is incredibly simple to grasp. If you look at it constructively, the way a scam works is that it follows a couple of incredibly simple steps that nevertheless take a lot of experience and authority to pull off.
In fact, investment scams are so effective not because of the way they are structured but because the people that are behind them are very talented at human manipulation. They have an arsenal of psychological and behavioral tricks.
Indeed, the hardest part of any scam is to actually be introduced to the scammer in person which happens most of the time by phone but it can also occur by email correspondence.
The quickest and most effective tool they have is online ads. Fake and misleading ads are ubiquitous over the internet. They continually evolve into becoming more and more legitimate-looking while retaining their complete scammer nature. Everybody has seen at least a couple of these ads: they promote a carefree life, luxurious products on the go, beautiful women, and other very expensive and realistically unattainable stuff.
Behind these ads are the investment scammers. Once you end up on the website you will be asked to provide a phone number or an email address for the sole purpose of being contacted by the broker.
The representatives of the scam will ask you to invest. He or she will use an array of tactics to make you invest. This is a solicitation and nothing else. Investing an initial deposits will build trust with the scammer and can potentially lead to more and higher investments.
If the user continues to invest and trusts the broker, he or she will continue to invest money that will be very hard to retrieve.
And once the time comes to actually get your money back or at least withdraw a profit, the true scammer nature of the company will reveal itself. The broker will either block your accounts, close off all communications with you, shut down the entire website, or stall all requests. At times it can even pay you back a percentage of your deposit and profits in order to create a false sense of security.
What to do if scammed?
Now, the quickest way to get your money back is to file for a chargeback with your credit or debit cards provider. However, this applies only to those users that have actually lost money by means of a card. MasterCard and VISA have a chargeback period of 540 days.
Bank transfers are harder to get back. First of all, we always encourage users to immediately change their bank account username and password. And then to contact the bank itself and try to find a solution to the problem together. The banking institution might have a specific section that deals with similar issues.
One sure way to lose all of your deposit is to invest in a regulated broker via any sort of cryptocurrency. Even in today’s world, crypto transactions are untraceable making crypto deposits the most popular investment gateway used by unregulated brokers. All funds invested through a crypto wallet are definitely lost.
And a warning to all readers! Do not trust the self-proclaimed recovery agency or agencies whose promises of returning all your funds are as misleading as the broker scam itself. They will take the initial fee charged for the false services and will disappear with the money.