Forex Trading Platform
Is Remaxima Fake or Real?
Why Is Remaxima Fake?
Remaxima claims to be a platform for foreign exchange (forex) trading. The website does not make any outrageous earnings claims but seems to present forex trading as a ‘risk-free’ way to get rich. Forex trading is, in fact, extremely risky and does not guarantee profits. The lengthy disclaimer at the end of the home page states this same fact. It clearly says that anyone investing with Remaxima should be prepared to lose all their money. It is also a bit confusing that the pop-up mentions stock marketing trading, while Remaxima is a forex trading platform. Those are two completely different trades.
A domain name lookup of the website shows that it was registered on 29th January 2019. The registrant’s information such as name, location and contact information has been hidden for privacy. Traffic data shows that the website has only been active since April 2020.
Remaxima has a number of Account Types starting from $250 going up to $250,000. The website claims that investors are responsible for their own trades. However, information gathered during my research suggests that there are ‘Account managers’ assigned to users who trade on their behalf. This directly contradicts the statements in their disclaimer. The company has also not provided information about being registered with any financial regulatory authority. This makes investing with Remaxima tremendously risky.
Remaxima has a social media presence on Facebook, Twitter and Medium. The accounts were created in November 2019, which is seven months after the website went live. The pages have few followers and have not been updated in more than a month. Curiously, the Facebook page has text in Russian, even though Remaxima claims to be based in Budapest, Hungary. This suggests that Remaxima is actually operated by Russians.
The contact details provided on the website are an email ID, phone number and physical address. The email ID was found to be valid when tested. The Head Office address location provided is an incomplete address that shows a residential area in Google Maps. The phone number is supposed of London and has no name associated with it on TrueCaller. This suggests that the address and phone number provided are fake.
There are quite a few user reviews available for Remaxima on TrustPilot and Scamadviser. The reviews are overwhelmingly negative and indicate that no investors have actually made any money through the platform. 65% of the ratings on TrustPilot are 1 & 2-star, and Remaxima has an overall rating of 2.4/5 based on 57 reviews. Many of these reviews have been left by fake money recovery companies, but most of them seem to be from genuinely unhappy investors. There are several astonishing claims being made in these reviews:
- Remaxima cold calls people using spoofed phone numbers and aggressively pursues them to invest in their platform
- They refuse withdrawals for various reasons and it seems that no one has actually received a payout from Remaxima
- They threaten and abuse investors who demand to have their deposits refunded
- They also pose as ‘recovery agents’ and demand an upfront fee for helping investors get their money back
It seems extremely likely that Remaxima is a scam. Though the domain was registered in January 2019, traffic data suggests that the website has only gone live in April 2020. The company is not registered with any financial regulatory authority and therefore has low legitimacy. Remaxima claims that they are not financial advisers, but investors have said that they assign ‘account managers’ who trade on their behalf.
The company claims to have a Head Office in Hungary and uses a London phone number. The address is incomplete and seems to be of a residential area. The phone number also seems to be fake. Russian text on their Facebook page suggests that the company is either based out of Russia or is run by Russians. Their social media following is unimpressive and does not lend them any credibility.
The reviews of Remaxima are highly negative and investors have made several claims that shed a bad light on the company. They allege that Remaxima repeatedly cold calls people using spoofed numbers, refuses withdrawals citing numerous reasons, threatens investors who demand their money back and also approaches their own victims as a ‘recovery agency’ that charges an advance fee for helping them. It is advisable to avoid investing with Remaxima, as there are several signs which suggest it may be a scam.
Remember: If something seems too good to be true, it probably is.
If you have been a victim of an investment scam, you can take the following steps:
- File a complaint with the payment portal. However, investment scammers mostly use methods such as Bitcoin, Western Union, MoneyGram and other untraceable methods which make refunds impossible.
- File a formal police complaint with the Cybercrime department.
- Leave a negative review on review portals such as Scamadviser and TrustPilot
- Report the website to Google using the Suspicious Site Reporter extension for Chrome
- Give a low rating to the website on Web of Trust. You can also install their extension for the same.
- If the company has a listing on Google My Business or Google Maps, file a complaint using the Business Redressal Complaint Form. Also, leave a negative review explaining what kind of experience you had.
Disclaimer: This review is intended for information only and should not be relied on when making financial or business decisions. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch using the Contact Form.