Problem Filing an official Dispute against MAG Markets-White Label of 4XC (previously 4XCube) with BaFin, AMF and CySec

[PipInfuse]

MAG Markets LLC, a white label Forex Broker platform of 4XC owes us and one of our associate trader partner, a sum 0f above $38000 in total in commissions since the month of March 2022.

We were assured the payment several times last year by the CEO of MAG Markets, Michael Lachner, however after multiple follow-ups all we got in response were nonsensical excuses.

We tried our level best to solve the issue amicably through the first half of this year via email, WhatsApp Chats and various other mediums, but our messages and emails were ignored. Hence we were forced to threaten them with a legal notice, after which we had a Video call with Michael Lachner and the CSO of MAG Markets, Fabian Falchle.

And through Multiple email exchanges with Michael Lachner and Fabian Falchle marked in all the communication, we were given a specific date of December 1st 2023, as the date of our payment. However knowing Michael Lachner’s business ethics, as expected, the date was breached, and we have finally decided to take the legal route for good.

As per our legal council. Although the company MAG Markets is registered in St. Vincent’s and Grenadine, Since all the members involved with MAG Markets are physically present in the EU zone:

Michael Lachner (CEO) – France

Fabian Falchle (CSO) – Germany

Support Team – Cyprus

We will have to file complaints against individuals, in the embassy tribunals, along with the Financial regulators in these countries namely BaFIN, AMF and CySec.

We have all the email and chat transcripts of all our above claims which can be to submitted to the regulators as required. Along with some unethical business tactics used by Michael Lachner to trade higher volumes to generate commissions, disregarding the clients managed Funds which was revealed by our trader partner through the process.

Just for the record, We have never dealt with 4XC or any of their management. And we have nothing against the company.

We had a call with an old contact today, 11th December 2023 with, Mr. Abdoulkader Aden Abdi, Managing partner of 8topuz(part of 4XC), since we have had a cordial relationship since a long time. And after informing him about the above issue, we were explicitly informed that 4XC were not aware of the malpractices of Michael Lachner and/or MAG Markets

We believe 4XC(Previously 4XCube) had no knowledge about the above issue. However, Since they are the parent company, we might have to drag their name into this issue as well. And I hope 4XC and their management will have a look at this issue internally.

I believe this is exactly the purpose of this forum, to keep individuals like Michael Lachner away from the world of financial markets who bring a bad name to the industry, and discourage traders and IB’s alike.

I urge the Moderators of this Forum, and any member from the above mentioned regulatory bodies on this forum to get in touch with us through private message and assist us to expedite the process of a regulatory action against such a company and individuals which will help us proceed with our legal action.

Thanks.

 

[FxMaster]

MAG Markets LLC, a white label Forex Broker platform of 4XC owes us and one of our associate trader partner, a sum 0f above $38000 in total in commissions since the month of March 2022.

We were assured the payment several times last year by the CEO of MAG Markets, Michael Lachner, however after multiple follow-ups all we got in response were nonsensical excuses.

We tried our level best to solve the issue amicably through the first half of this year via email, WhatsApp Chats and various other mediums, but our messages and emails were ignored. Hence we were forced to threaten them with a legal notice, after which we had a Video call with Michael Lachner and the CSO of MAG Markets, Fabian Falchle.

And through Multiple email exchanges with Michael Lachner and Fabian Falchle marked in all the communication, we were given a specific date of December 1st 2023, as the date of our payment. However knowing Michael Lachner’s business ethics, as expected, the date was breached, and we have finally decided to take the legal route for good.

As per our legal council. Although the company MAG Markets is registered in St. Vincent’s and Grenadine, Since all the members involved with MAG Markets are physically present in the EU zone:

Michael Lachner (CEO) – France

Fabian Falchle (CSO) – Germany

Support Team – Cyprus

We will have to file complaints against individuals, in the embassy tribunals, along with the Financial regulators in these countries namely BaFIN, AMF and CySec.

We have all the email and chat transcripts of all our above claims which can be to submitted to the regulators as required. Along with some unethical business tactics used by Michael Lachner to trade higher volumes to generate commissions, disregarding the clients managed Funds which was revealed by our trader partner through the process.

Just for the record, We have never dealt with 4XC or any of their management. And we have nothing against the company.

We had a call with an old contact today, 11th December 2023 with, Mr. Abdoulkader Aden Abdi, Managing partner of 8topuz(part of 4XC), since we have had a cordial relationship since a long time. And after informing him about the above issue, we were explicitly informed that 4XC were not aware of the malpractices of Michael Lachner and/or MAG Markets

We believe 4XC(Previously 4XCube) had no knowledge about the above issue. However, Since they are the parent company, we might have to drag their name into this issue as well. And I hope 4XC and their management will have a look at this issue internally.

I believe this is exactly the purpose of this forum, to keep individuals like Michael Lachner away from the world of financial markets who bring a bad name to the industry, and discourage traders and IB’s alike.

I urge the Moderators of this Forum, and any member from the above mentioned regulatory bodies on this forum to get in touch with us through private message and assist us to expedite the process of a regulatory action against such a company and individuals which will help us proceed with our legal action.

Thanks.

magmarkets.com is this the correct website?

 

[PipInfuse]

magmarkets.com is this the correct website?

Thats Correct FX Master

 

[FxMaster]

MAG Markets LLC, a white label Forex Broker platform of 4XC owes us and one of our associate trader partner, a sum 0f above $38000 in total in commissions since the month of March 2022.

We were assured the payment several times last year by the CEO of MAG Markets, Michael Lachner, however after multiple follow-ups all we got in response were nonsensical excuses.

We tried our level best to solve the issue amicably through the first half of this year via email, WhatsApp Chats and various other mediums, but our messages and emails were ignored. Hence we were forced to threaten them with a legal notice, after which we had a Video call with Michael Lachner and the CSO of MAG Markets, Fabian Falchle.

And through Multiple email exchanges with Michael Lachner and Fabian Falchle marked in all the communication, we were given a specific date of December 1st 2023, as the date of our payment. However knowing Michael Lachner’s business ethics, as expected, the date was breached, and we have finally decided to take the legal route for good.

As per our legal council. Although the company MAG Markets is registered in St. Vincent’s and Grenadine, Since all the members involved with MAG Markets are physically present in the EU zone:

Michael Lachner (CEO) – France

Fabian Falchle (CSO) – Germany

Support Team – Cyprus

We will have to file complaints against individuals, in the embassy tribunals, along with the Financial regulators in these countries namely BaFIN, AMF and CySec.

We have all the email and chat transcripts of all our above claims which can be to submitted to the regulators as required. Along with some unethical business tactics used by Michael Lachner to trade higher volumes to generate commissions, disregarding the clients managed Funds which was revealed by our trader partner through the process.

Just for the record, We have never dealt with 4XC or any of their management. And we have nothing against the company.

We had a call with an old contact today, 11th December 2023 with, Mr. Abdoulkader Aden Abdi, Managing partner of 8topuz(part of 4XC), since we have had a cordial relationship since a long time. And after informing him about the above issue, we were explicitly informed that 4XC were not aware of the malpractices of Michael Lachner and/or MAG Markets

We believe 4XC(Previously 4XCube) had no knowledge about the above issue. However, Since they are the parent company, we might have to drag their name into this issue as well. And I hope 4XC and their management will have a look at this issue internally.

I believe this is exactly the purpose of this forum, to keep individuals like Michael Lachner away from the world of financial markets who bring a bad name to the industry, and discourage traders and IB’s alike.

I urge the Moderators of this Forum, and any member from the above mentioned regulatory bodies on this forum to get in touch with us through private message and assist us to expedite the process of a regulatory action against such a company and individuals which will help us proceed with our legal action.

Thanks.

I would suggest sharing this as a review at https://www.forexpeacearmy.com/forex-reviews/21397/magmarkets.com

And on their social media as well.

 

[PipInfuse]

I will share the same post on the link you suggested, however sharing anything on their social media isn't going to make any difference.

We have already tried contacting the CEO, CSO of the company directly through phone and email.
And to be honest, we are past the stage of any amicable engagement, if anyone goes through our chat and email transcripts, they will realise that discussion isn't an option at the moment.

Thanks for the suggestion though.

And i will eventually share more links and details to the threads created on this Forum.

 

[FxMaster]

I will share the same post on the link you suggested, however sharing anything on their social media isn't going to make any difference.

We have already tried contacting the CEO, CSO of the company directly through phone and email.
And to be honest, we are past the stage of any amicable engagement, if anyone goes through our chat and email transcripts, they will realise that discussion isn't an option at the moment.

Thanks for the suggestion though.

And i will eventually share more links and details to the threads created on this Forum.

There are two benefits to sharing on social media.
1st they will get attention to your issue and
2nd more people can get an idea about your situation and double-check themselves before going in with them.

And keep us updated.

Let us know if we can help you with anything.

 

[PipInfuse]

There are two benefits to sharing on social media.
1st they will get attention to your issue and
2nd more people can get an idea about your situation and double-check themselves before going in with them.

And keep us updated.

Let us know if we can help you with anything.

I will definitely look into your suggestion.

We are looking to get in touch with the representatives from the regulatory bodies on this forum, with whom we can discuss and disclose the minute details and reach a fair solution.

Leeches like Michael Lachner shouldn't be allowed to work in the financial sector in any way or form. And i am willing to go to any extent to make sure that his activities are brought to the notice of the regulators.

I see you are an experienced and extremely active member here, id really appreciate if you can introduce us to the right members here who can escalate the issue to the regulators at the earliest.

I am always available for a quick chat through PM.

 

[FxMaster]

I will definitely look into your suggestion.

We are looking to get in touch with the representatives from the regulatory bodies on this forum, with whom we can discuss and disclose the minute details and reach a fair solution.

Leeches like Michael Lachner shouldn't be allowed to work in the financial sector in any way or form. And i am willing to go to any extent to make sure that his activities are brought to the notice of the regulators.

I see you are an experienced and extremely active member here, id really appreciate if you can introduce us to the right members here who can escalate the issue to the regulators at the earliest.

I am always available for a quick chat through PM.

Here you go, create one private conversation with @AsstModerator @Pharaoh @The Punisher, including me.

 

[oscarra]

https://michaellachner.de/der-unternehmer

hum now if Michael ever thinks about Cold Calling the French Public he is going to end up in the “CHATEAU in no time !

…. One French victim call to the AMF it will go to the Prosecutor and next the Brigarde Financier, that’s when HELL starts…..just an advice

https://fr.wikipedia.org/wiki/Brigade_financière


and for the OP..to which country do you belong

 

[The Punisher]

Some additional details about this broker.

Mag Markets Review – Invalid Claims About License In The EU

If you got the impression that Mag Markets is a regulated brokerage, check out this review and see why it’s NOT recommended for business

scambrokersreviews.com

Mag Markets Review: 4XC securities fraud clone scheme

behindmlm.com

4XC is the trading name of Geomatrix Ltd, a company registered in the Cook Islands and with offices supposedly also in Brazil, Vietnam and Cyprus. Geomatrix Ltd (trading as 4XC) is registered in the Cook Islands with the number ICA 12767/2018 and licensed by the FSC (Financial Supervisory Commission) with Money-Changing License number MC03/2018 (licence applies only to forex products). The Cook Islands does not much much in terms of financial regulation so these registrations don't do much except look fancy on paper only!

https://dirtyscam.com/report/costa-cook-islands-crime/

ABANDONED COMPLAINT-4XC securities fraud https://4xcube.comDirectors Joao Monteiro, John Goddard, Joao Severino of 8topuz, Cyprus. https://8topuz.com

Mag Markets Review: 4XC securities fraud clone scheme https://behindmlm.com/mlm-reviews/mag-markets-review-4xc-securities-fraud-clone-scheme/ Sep.20, 2021 in MLM Reviews mag-markets-logo.webp Mag Markets provides no information on their website about who owns or runs the company. Mag...

www.forexpeacearmy.com