maxforeonline.biz (Topic Merged)

i want to know about maxforexonline.biz website. is it a scam??
website is not opening since 13october 2010.


http://www.consumercomplaints.in/questi ... html#c2890





http://www.gov.mu/portal/sites/ncb/fsc/index.html

click below link for viewing maxforex certification and click at
search for a new company/business name .

http://www.gov.mu/portal/site/compdivsite

for searching company click belowlink and write maximus trade
incorporation in search area.

https://mns-portal.intnet.mu/cbris-name ... tCBRIS.xml

for company info click below. you vl find company is genuine/authentic
and not in process to shut it down type…

https://mns-portal.intnet.mu/cbris-name ... ey_count=1







register.com web chat says site is closed due to some inquiry going on.

can you help us here and tell is it a scam or when the website will be active again....



waiting for response...

I would strongly recommend you steer clear of doing foreign exchange deals on a speculative basis even with an impeccable bank stringently regulated in your home country.

I spent my life working for a major UK bank, part of the time on foreign exchange, and we didn't allow private customers to indulge in foreign exchange speculation, because it was bound to end in tears. I won't bore you to death with the principles, but suggest you consider the effect of performing five buy/sell transactions in quick succession and see how much money you've got left, and that'll show you the problem. That's without factoring in any charges or fees. Also consider the reality that you aren't in personal contact with the market. Even in a major bank and not far from London I would get frozen out when the market made big moves. I had a direct line in to our bank's f/e traders but to them I was a flea on a gnat's bottom, and I was dealing in tens of millions of pounds. They won't pick up the phone to handle tens of thousands.

Simply, you won't beat the market. It's like going to war holding a balsa wood sword and you'll just be throwing your money away. You may argue that you can speculate that the historic records show you'd have made a fortune if your money had been held in US Dollars for instance. Open a dollar account with your bank then, or go to the USA and open one with an American bank. Playing with foreign organisations you know nothing about is reckless.

A couple of recent cases in the UK

http://www.mynewsdesk.com/uk/view/pressrelease/insolvency-service-national-director-of-currency-trading-company-disqualified-for-15-years-following-an-investigation-by-the-insolvency-service-477441

http://www.comparemoneytransfer.co.uk/foreign_currency_news/property-transfers/10/2010/crown-currency-now-in-administration/

Banks do their foreign exchange trading on a very strictly controlled basis, and that's been known to go wrong. Who knows with a company you've found on the internet.

I don't have any clue as to their standing, but as I would never ever do a foreign exchange deal outside a reputable and regulated bank, I wouldn't need to worry. The risks to do otherwise are too great.

Hi soodnitin0088, welcome to scamwarners.

With the information provided it's very hard for us to tell you whether it is a scam or not - I can pull up only one page from a cached memory somewhere.

However, based on what I see there I wouldn't trust it one bit. The site claims copyright since 2008, yet the site was only registered earlier this year. I can find an exact copy - look at this site here and tell me if the text on it sounds familiar: http://dreamworldwide.biz

Or this one: http://shineforex.com

I can go on. Both sites mentioned above are far from reliable. I'm not expecting the one you mentioned to be real.
I am fairly sure register.com has closed down this site because of abuse reports and will not come back. I suggest you stop all contact with these people at once, the only thing they want is to scam people out of their hard-earned money. They are criminals.

i want to know complete details about this site. site is close since 13 oct 2010.
site claimed that it is doing legal business regd in name of maximus trade incorporation mauritius. first site was maxforeonline.com
they shut it down and started maxforexonline.biz
now this site is closed too.
a new site named dreamworldwide.biz is in to play now with almost same text privacy stament and esp spam report says contct to maxforexonlin.com



people were investing in maxforex since last 2-3 yrs... and getting circulation money. and wire transfer too.

now without any prior notice site is close.and billion usd money have gone. who did this and what is thae way out.??? anybody suggest...


thanks ...

If anyone tells that foreign exchange is an investment, then they are either liars or idiots.

I have some information which might be useful but first I need to check it out before I make potentially libellous/slanderous comments.

Anyone who thought this was a good idea should stay well clear of foreign exchange and investments.

I'm sorry to be so harsh but anyone who is attracted by MLM schemes in general is like a moth attracted to a naked flame. The combination of it with FOREX is just insane. Foreign exchange isn't an investment in the same way that you can't call yourself an investor if you gamble on horses.

This link might provide some background and information to those who are trying to find where this company has disappeared to.

http://www.moneylife.in/article/78/10218.html

This shouldn't reassure you.

Information about those behind it isn't hard to find.

Interesting to note that dreamworldwide.biz has also disappeared.

I noted some interesting things in their details and terms

You understand and agree that this Agreement is governed by the laws of the state of Mauritius and as such www.dreamworldwide.biz does not accept any member from the state Mauritius. We don’t accepting any members from USA and Canada

Dream Worldwide Incorporation Sdn. Bhd.
3A, Menara Amcorp, Amcorp Trade Center,
18, Jalan Persiaran Barat, 46050
Petailing Jaya, Selangor.(Malaysia)

A Malaysian company based in Malaya operating under Mauritius legal jurisdiction, excluding investors from Mauritius, the USA and Canada and targeted at Indian nationals ?

11. What is the minimum investment required?
A Minimum sum of USD 200 is required.

The suggestion that forex is an investment proposition should have been enough of a warning. Sending money abroad to a company about which little was known, apart from its own advertising, was fatal.

I won't take credit for finding this as I spotted it here

http://www.consumercomplaints.in/questions/3433/page/16

where another version of this website has been discovered, which has disappeared overnight, but details of their international offices are stll available at

http://webcache.googleusercontent.com/search?q=cache:QkFhmLKV0lEJ:www.mondalesforex.us/contact.html+http://www.mondalesforex.us/contact.html&cd=1&hl=en&ct=clnk&gl=uk

The important point being that this site gives the details of a person in India who it purports is their representative in their Indian Central Office. If needed I can take copies of these pages before they disappear completely.

If you then do a search, further websites under different names can be discovered, that are merely clones of the original maxforex website.

A news update to this ongoing saga and tragedy for scam victims.

http://mlmnewssite.com/

I repeat once more - dealing in FOREX is not an investment and is little different to gambling your money at Las Vegas. The principle is the same - the house always wins. I wouldn't deal in FOREX with a top class international bank but investing with unknown internet entities is insane. As unregulated entities they can do as they please - even go into liquidation once they get your money.

The fact that many of these gold, diamond, oil and FOREX investment scams are being marketed as MLM schemes leaves me speechless. MLM schemes are illegal in the UK for a very good reason. It's like putting cold custard on rotten meat.

More news.

Case Filed against 15 MLM Companies and 13 Agents Arrested.

http://www.click4mlm.com/news/case-filed-against-15-mlm-companies-and-13-agents-arrested

I can't confirm the story and I can't read the script in the link giving further details.

I'm baffled at how popular these MLM and fraudulent investment schemes are in India but hopefully the publicity created by this case and others will highlight the risks and dangers involved.

http://www.youtube.com/watch?v=RHqMkgx8HXI

I can't understand Hindi/Punjabi but the word Maxforex is mentioned and the comment suggests that this is the arrest of some agents. Being that this is a FOREX scam run as an MLM scheme the agents are just minor players but it's a good first step and hopefully it will lead to more revelations and arrests of the operators behind it.

More news

http://www.tribuneindia.com/2010/20101031/ldh1.htm

Ludhiana, October 30
The residents, who were duped by Max Forex, a bogus foreign exchange company, had invested their lifetime savings in the company by selling their houses with a hope that their money would multiply within a few months...........

Two days after hundreds of investors lodged a complaint against Max Forex for allegedly duping them of crores, the police is groping in dark as the complainants have failed to provide any transaction proof......

The company closed down their website on October 13 and the managers, who were in the city fled with their families. This spread panic among the investors, who lodged the complaint with the police.

Another report

http://www.tribuneindia.com/2010/20101101/bathinda.htm#6

Nine agents of private financing company held for cheating investors

Ferozepur, October 31
The local police recently arrested nine agents of the Max Forex (a company operating in financial transactions through internet), involved in causing a huge monetary loss to the residents of this town and its surrounding areas by committing fraud with them on the pretext of doubling their money.

In the UK, where I live, MLM schemes are illegal, and this is the case in quite a few other countries. In India they are legal and there are quite a few large companies that openly trade as MLM operators. Looking at the schemes they operate leaves me gobsmacked.

Most websites offering the chance for private investors to operate in the FOREX market are scams and they don't have the ability or intention to trade in FOREX. This Indian example where it's combined as an MLM scheme is utterly mind numbing.