Magazine Markets gives no info on their web site about who owns or runs the corporate.
Magazine Markets’ web site area (“magmarkets.com”) was privately registered in December 2020.
Magazine Markets’ area was registered via a German registrar. The corporate’s web site additionally has native German language components:
In an try to seem legit, Magazine Markets claims its “regulated by the FSC”.
The corporate follows the regulated legal guidelines highlighted by the Monetary Supervisory Fee (FSC).
MAGMarkets is working beneath the authorized umbrella of Geomatrix Ltd, which is audited by BDO and beneath the €20000 Monetary Fee’s Compensation Fund.
Geomatrix Ltd is a shell firm included within the Cook dinner Islands. Magazine Markets seems to have obtained a monetary license within the Cook dinner Islands via Geomatrix.
For the aim of MLM due-diligence, that is meaningless. Magazine Markets has no enterprise operations within the Cook dinner Islands.
The Cook dinner Islands is a kind of tiny South Pacific nations scammers love to include in, primarily as a result of there’s little to no lively MLM regulation.
MLM corporations incorporating shell corporations to launder cash via is a due-diligence purple flag.
As at all times, if an MLM firm just isn’t overtly upfront about who’s operating or owns it, assume lengthy and arduous about becoming a member of and/or handing over any cash.
Magazine Markets’ Merchandise
Magazine Markets has no retailable services or products.
Associates are solely in a position to market Magazine Markets affiliate membership itself.
Magazine Markets’ Compensation Plan
Magazine Markets expenses a charge to entry their passive buying and selling bots.
- Traditional – $100 (“traditional account for brand new merchants”)
- mBTC/mETH – $100 (“the crypto accounts”)
- Uncooked Account – $1000 (“the uncooked account for extra skilled merchants”)
- VIP – $5000 (“for high-net-worth people”)
Particular variations between the accounts, with respect to buying and selling, should not offered.
Referral Commissions
Magazine Markets pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel workforce, with each personally recruited affiliate positioned instantly beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
Magazine Markets limits referral commissions down 5 unilevel workforce ranges.
For each shopper who indicators up via your distinctive Affiliate hyperlink, you – the ‘Grasp Affiliate – will earn a fee primarily based on traded Heaps by every referral.
If one among your referred merchants refers one other dealer to the platform, the Grasp Affiliate will proceed to earn an additional fee per lot traded.
Referral commissions are paid on funds invested and costs charged. Particular fee charges should not offered.
Becoming a member of Magazine Markets
Magazine Markets affiliate membership prices between $100 to $5000 (see compensation intro above).
Conclusion
Magazine Markets is your typical passive buying and selling bot securities fraud scheme.
The corporate admits as a lot by blocking US residents from accessing their web site.
That is an try at pseudo-compliance, owing to the US’ SEC being the world’s most lively securities regulator.
In Magazine Markets’ pseudo-compliance message, the corporate inadvertently discloses a tie to “4XC”.
4XC stands for “4XCube”, one other passive funding buying and selling bot securities fraud scheme.
Magazine Markets is a clone of 4XC’s enterprise alternative. 4XC has the identical Cook dinner Islands Geomatrix shell firm setup.
Each Magazine Markets and 4XC corporations are probably run by the identical scammers.
What 4XC has that Magazine Markets doesn’t have is a YouTube channel, on which we discover 4XC CEO Joao Monteiro.
Monteiro (proper) is a Portuguese citizen residing in Cyprus. Just like the Cook dinner Islands, Cyprus is one other scam-friendly jurisdiction with no lively regulation of MLM fraud.
Monteiro’s LinkedIn profile particulars his involvement in a number of buying and selling corporations, courting again to 2008.
Absent is 8topuz, one more foreign exchange “ai buying and selling” scheme.
8topuz gives a straightforward to entry AI-based automated funding system to successfully aid you develop your wealth no matter your information in buying and selling.
Present 8topuz shoppers are acquiring a median 2 to 4% month-to-month return on funding utilizing our AI algorithms.
Investing into 8topuz will set you again $500, $10,000 or $100,000+.
Like 4XC and Magazine Markets, 8topuz is a tangled mess of shell corporations:
8topuz Wealth Fintech LLC is registered in Saint Vincent and Grenadines beneath Firm Quantity 717LLC2020
8topuz Wealth Fintech Ltd is registered in Cyprus beneath Firm Quantity HE396701 and an official buying and selling companion of FX Capital. FX Capital MA Ltd just isn’t independently regulated by the FCA.
FX Capital MA Ltd is a sign supplier to Pelican Buying and selling.
Pelican Buying and selling is a buying and selling identify of London & Jap LLP, approved and controlled by the Monetary Conduct Authority within the UK, ref 534484.
Registered tackle: 85 Nice Portland Avenue, First Ground, London, W1 W7LT.
8topuz is an Funding Advisor for Coeus Capital BV, a personal restricted legal responsibility firm included beneath the legal guidelines of the Netherlands, with the Dutch Chamber of Commerce Register beneath the quantity 81976763.
Such are the hoops one should soar via to acquire banking channels to run your fraudulent enterprise.
Anyway, a go to to 8topus’ official Fb web page reveals a “partnership” between 8topus and the infamous UAE Al Qasimi royal crime household.
BehindMLM is acquainted with the Al Qasimis via their ties to the much more infamous OneCoin Ponzi scheme.
There’s most likely extra to the Joao Monteiro Al Qasimi rabbit-hole, however for the aim of Magazine Markets due-diligence, I’ll depart it there.
The “however we are able to’t contact your cash!” securities fraud mannequin ends in one among two methods;
- both the admin rigs trades of their favor and exit-scams; or
- the bot blows up.
Both manner gullible buyers lose their cash. And better of luck attempting to get well something from Monteiro’s net of dodgy jurisdiction shell corporations.
Replace 1st September 2022 – MagMarkets collapsed on August twenty eighth.
The corporate has wiped buying and selling accounts within the hopes of launching a reboot.