Beware! Comaxinvest is an offshore broker! Your investment may be at risk.
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Comaxinvest is another in a long line of investment scams – the company’s entire business model relies on having its clients deposit money under false promises of revenue. However, before we look into the broker a bit closer, we need to make a small disclaimer – we were not able to open an account with the company. That is because once we entered our data on its website, we got the following message:
But alas, no verification email was sent. This means that we were not able to actually access our account. Considering what we have to say about Comaxinvest, that might be for the best!
Comaxinvest regulation and safety of funds
Comaxinvest is not a regulated broker – the company is incorporated on the Marshall Islands, one of the shadiest offshore jurisdictions out there. Here is proof of that, and the broker’s address:
What makes the Marshalls so scammer-infested is the fact that the islands’ government does not regulate their Forex markets in the least, and companies can be created easily on them – the process is entirely online and does not require one to even set foot on the islands!
In fact, you should be careful of any company that operates from the country without an additional license – there is no way for it to prove it is not running a scam, much less provide any actual security for your funds – meaning that any protections that a broker from the EU, for example, can provide are not available. In the exemplary case, these protections include access to a Negative Balance Protection policy, as well as guarantee funds. So, if you wish to trade safely and profitably, stick to licensed companies!
Comaxinvest trading software
We could not make an account with Comaxinvest – but we highly doubt the company offers access to any trading software. That is because its real business model seems to be the following investment plans:
This is the most modest of them, and it offers an interest rate of 4% per month – more than most banks offer for an year on savings accounts. The fact of the matter is that Comaxinvest does not seek to guarantee you these return rates – it cannot do so either. And if you think it can, just ask yourself – why would the people behind the broker use this incredible technology for themselves? Why would they not just take out a business loan and start printing money without needing to pay any middle men?
Comaxinvest deposit and withdrawal methods and fees
As we could not make an account with Comaxinvest, we are not sure what deposit methods the broker accepts – but if you have deposited with it, we suggest you seek a chargeback – the company does not have its withdrawal fees or general withdrawal policy available in its Terms and Conditions, creating a situation ripe for abuse!
How does the scam work?
Comaxinvest is undeniably a scam. And what’s more, it is one we have seen unfold a thousand times before – here is how the scheme the broker follows unfolds:
First off, someone stumbles upon the company’s website. On it, they are prompted to make an account, and required to leave a phone number should they chose to do so. Once the scammers have that number, they will start calling the victim around the clock to demand deposits – more and more will be taken, and the demands will only stop if they run out of money or realize they are being conned, at which point the scammers will simply cut them off and move on to new targets.
What to do when scammed?
If you recognize yourself in the scenario outlined above, you need to take the following steps to limit your losses:
First off, recall what forms of IDs, credit cards and so on the scammers had access to and get new ones issued ASAP. Also, remove any remote control software from your PC.
Once that is done, contact your bank and ask them to see if a chargeback is available to you – and if not, do not trust any recovery agency that demands an upfront payment for its services – that is simply another scam.
Finally, do not hesitate to speak up about your experience – the best way to combat the spread of the scam is warning people about it. And a good place to start doing so would be our comments section below!
