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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 Markets’ website domain (“magmarkets.com”) was privately registered in December 2020.
Mag Markets’ domain was registered through a German registrar. The company’s website also has native German language elements:
german-language-mag-markets-website-source-code.webp
In an attempt to appear legitimate, Mag Markets claims its “regulated by the FSC”.
The company follows the regulated laws highlighted by the Financial Supervisory Commission (FSC).
MAGMarkets is operating under the legal umbrella of Geomatrix Ltd, which is audited by BDO and under the €20000 Financial Commission’s Compensation Fund.
Geomatrix Ltd is a shell company incorporated in the Cook Islands. Mag Markets appears to have obtained a financial license in the Cook Islands through Geomatrix.
For the purpose of MLM due-diligence, this is meaningless. Mag Markets has no business operations in the Cook Islands.
The Cook Islands is one of those tiny South Pacific nations scammers love to incorporate in, primarily because there’s little to no active MLM regulation.
MLM companies incorporating shell companies to launder money through is a due-diligence red flag.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Mag Markets’ Products
Mag Markets has no retailable products or services.
Affiliates are only able to market Mag Markets affiliate membership itself.
Mag Markets’ Compensation Plan
Mag Markets charges a fee to access their passive trading bots.
automated-trading-marketing-mag-markets.webp
Referral Commissions
Mag Markets pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Mag Markets limits referral commissions down five unilevel team levels.
For every client who signs up through your unique Affiliate link, you – the ‘Master Affiliate – will earn a commission based on traded Lots by each referral.
If one of your referred traders refers another trader to the platform, the Master Affiliate will continue to earn a further commission per lot traded.
Referral commissions are paid on funds invested and fees charged. Specific commission rates are not provided.
Joining Mag Markets
Mag Markets affiliate membership costs between $100 to $5000 (see compensation intro above).
Conclusion
Mag Markets is your typical passive trading bot securities fraud scheme.
passive-investment-business-model-mag-markets.webp
The company admits as much by blocking US residents from accessing their website.
This is an attempt at pseudo-compliance, owing to the US’ SEC being the world’s most active securities regulator.
passive-income-marketing-mag-markets.webp
In Mag Markets’ pseudo-compliance message, the company inadvertently discloses a tie to “4XC”.
4xc-support-mag-markets-us-pseudo-compliance.webp
4XC stands for “4XCube”, another passive investment trading bot securities fraud scheme.
Mag Markets is a clone of 4XC’s business opportunity. 4XC has the same Cook Islands Geomatrix shell company setup.
Both Mag Markets and 4XC companies are likely run by the same scammers.
What 4XC has that Mag Markets doesn’t have is a YouTube channel, on which we find 4XC CEO Joao Monteiro.
joao-monteiro-ceo-4xc-youtube.webp
joao-monteiro-ceo-4xc.webp
Monteiro (right) is a Portuguese citizen living in Cyprus. Like the Cook Islands, Cyprus is another scam-friendly jurisdiction with no active regulation of MLM fraud.
Monteiro’s LinkedIn profile details his involvement in several trading companies, dating back to 2008.
Absent is 8topuz, yet another forex “ai trading” scheme.
8topuz offers an easy to access AI-based automated investment system to effectively help you grow your wealth regardless of your knowledge in trading.
Current 8topuz clients are obtaining an average 2 to 4% monthly return on investment using our AI algorithms.
Investing into 8topuz will set you back $500, $10,000 or $100,000+.
investment-plans-8topuz.webp
Like 4XC and Mag Markets, 8topuz is a tangled mess of shell companies:
8topuz Wealth Fintech LLC is registered in Saint Vincent and Grenadines under Company Number 717LLC2020
8topuz Wealth Fintech Ltd is registered in Cyprus under Company Number HE396701 and an official trading partner of FX Capital. FX Capital MA Ltd is not independently regulated by the FCA.
FX Capital MA Ltd is a signal provider to Pelican Trading.
Pelican Trading is a trading name of London & Eastern LLP, authorized and regulated by the Financial Conduct Authority in the UK, ref 534484.
Registered address: 85 Great Portland Street, First Floor, London, W1 W7LT.
8topuz is an Investment Advisor for Coeus Capital BV, a private limited liability company incorporated under the laws of the Netherlands, with the Dutch Chamber of Commerce Register under the number 81976763.
Such are the hoops one must jump through to obtain banking channels to run your fraudulent business.
Anyway, a visit to 8topus’ official Facebook page reveals a “partnership” between 8topus and the notorious UAE Al Qasimi royal crime family.
8topuz-al-qasimi-partnership-announcement-facebook-sep-16.webp
BehindMLM is familiar with the Al Qasimis through their ties to the even more notorious OneCoin Ponzi scheme.
There’s probably more to the Joao Monteiro Al Qasimi rabbit-hole, but for the purpose of Mag Markets due-diligence, I’ll leave it there.
The “but we can’t touch your money!” securities fraud model ends in one of two ways;
Mr Joao Paulo De Sousa Magalhaes Monteiro
Person with significant control
consumer.queries@fca.org.uk
chairman@cysec.gov.cy
Joao Monteiro, John Goddard, Joao Severino of 4xcube, Cyprus.
4xc - another company name change - scammers - fraudsters
4xcube and 8topuz and now rebranded to https://4xc.com and this is why:
Directors Joao Monteiro, John Goddard, Joao Severino of 4xcube, Cyprus.
https://4xcube.com
Directors Joao Monteiro, John Goddard, Joao Severino of 8topuz, Cyprus.
https://8topuz.com
Fraudster Angelo Aristodimou, Managing Director, working together with 8topuz, Cyprus scammers working together.
McMillan Woods Cyprus has been assisting 8topuz Wealth Fintech since day one, mostly regarding Accounting and Auditing of our services.
We are extremely pleased with our collaboration and with their level of service.
Our software is the result of artificial intelligence, and our business is based on full transparency.
Abdulkader Aden MANAGING PARTNER, 8TOPUZ
All Cyprus scammers working together – deleting scam news together whilst we scam more people.
Cyprus Scammers working together
200 Archiepiskopou Makariou III Avenue, 1st Floor, Office 102, 2311 – Lakatamia, Nicosia, Cyprus
+357 22 276000
info@mcmillanwoods.com.cy
Many articles and videos posted online, here are a few
Paid articles Paid fake awards
https://fxnewsgroup.com/forex-news/retail-forex/exclusive-offshore-fx-broker-4xcube-rebrands-as-4xc/
https://m.youtube.com/watch?v=wz4krTxcfHg
https://m.youtube.com/watch?v=Ww-sLbJXPFI
https://medium.com/@4XC/4xcwho-is-joao-monteiro-of-4xc-online-trading-company-ecfde68089b5
Scammers
https://medium.com/@jmonteiro.speci...hmic-trading-in-todays-investing-70a2e39f31ec
https://m.youtube.com/watch?v=-bj1magXgbk
https://m.youtube.com/watch?v=x9AwZr8tENg
Unfortunately, we can’t recommend 4xCube due to the lack of serious regulation, as long as safety measures always go first the regulated status is the only that can confirm the implemented security. Overall, we would better advise choosing among the Regulated brokers from the resected and reputable entities that prove their status with the constant check on of the operation by the industry authorities.
Warning!!! Scam
Scammers
John Goddard - Chief Financial Officer for 4xcube. Consults also for 3D Global, Cyprus. Refused to comment.
Joao Monteiro & Joao Severino
Previously these owners was of USI Tech (scammed a reported £80 million).
8topuz provides an Intelligent, supervised, multi-layered, AI Trading Software system that learns and adapts according to its environment.
Warning!!! Scam Scammers
Joao is lead developer and likes to use a Martingale strategy. This is pure gambling as the odds of the market is not what he advertises to his followers.
Joao advertises from multiple fake profiles using social media and email marketing.
Warning!!! Scam Scammers Warning this company has stolen millions from investors from over 70 countries.
https://4xcube.com
All awards shown on https://8topuz.com are paid for by review sites. Paid for... everyone because the real traders actually perform trades.
Audit accounts still show address:
https://youtu.be/-bj1magXgbk
About 8topuz
8topuz was founded as a result of a deep understanding of the FX market and the director’s interest in automating trading using advanced technology and AI.
Warning They have lost every account they have managed accept a few small amounts. They have only 1 year of historic accounts not 15 years.
8topuz has only 1 year, not fifteen years of software development.
Its product was initially tailored to retail investors, but as they moved forward, they adapted to the market in two different scenarios, 8topuz understood that it could also be a very useful risk management tool for banks and investment funds and other institutional clients. With its ability to adapt to any market scenario, 8topuz now caters to institutional clients, hedge funds, retail investors and banks, so that it can be either B2B or B2C.
They have lied gain and again to get funding from Dubai. They will just use their brand as their current one is a reputation disaster.
Warning!!! Scam Scammers
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 Markets’ website domain (“magmarkets.com”) was privately registered in December 2020.
Mag Markets’ domain was registered through a German registrar. The company’s website also has native German language elements:
german-language-mag-markets-website-source-code.webp
In an attempt to appear legitimate, Mag Markets claims its “regulated by the FSC”.
The company follows the regulated laws highlighted by the Financial Supervisory Commission (FSC).
MAGMarkets is operating under the legal umbrella of Geomatrix Ltd, which is audited by BDO and under the €20000 Financial Commission’s Compensation Fund.
Geomatrix Ltd is a shell company incorporated in the Cook Islands. Mag Markets appears to have obtained a financial license in the Cook Islands through Geomatrix.
For the purpose of MLM due-diligence, this is meaningless. Mag Markets has no business operations in the Cook Islands.
The Cook Islands is one of those tiny South Pacific nations scammers love to incorporate in, primarily because there’s little to no active MLM regulation.
MLM companies incorporating shell companies to launder money through is a due-diligence red flag.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Mag Markets’ Products
Mag Markets has no retailable products or services.
Affiliates are only able to market Mag Markets affiliate membership itself.
Mag Markets’ Compensation Plan
Mag Markets charges a fee to access their passive trading bots.
automated-trading-marketing-mag-markets.webp
- Classic – $100 (“classic account for new traders”)
- mBTC/mETH – $100 (“the crypto accounts”)
- Raw Account – $1000 (“the raw account for more experienced traders”)
- VIP – $5000 (“for high-net-worth individuals”)
Referral Commissions
Mag Markets pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Mag Markets limits referral commissions down five unilevel team levels.
For every client who signs up through your unique Affiliate link, you – the ‘Master Affiliate – will earn a commission based on traded Lots by each referral.
If one of your referred traders refers another trader to the platform, the Master Affiliate will continue to earn a further commission per lot traded.
Referral commissions are paid on funds invested and fees charged. Specific commission rates are not provided.
Joining Mag Markets
Mag Markets affiliate membership costs between $100 to $5000 (see compensation intro above).
Conclusion
Mag Markets is your typical passive trading bot securities fraud scheme.
passive-investment-business-model-mag-markets.webp
The company admits as much by blocking US residents from accessing their website.
This is an attempt at pseudo-compliance, owing to the US’ SEC being the world’s most active securities regulator.
passive-income-marketing-mag-markets.webp
In Mag Markets’ pseudo-compliance message, the company inadvertently discloses a tie to “4XC”.
4xc-support-mag-markets-us-pseudo-compliance.webp
4XC stands for “4XCube”, another passive investment trading bot securities fraud scheme.
Mag Markets is a clone of 4XC’s business opportunity. 4XC has the same Cook Islands Geomatrix shell company setup.
Both Mag Markets and 4XC companies are likely run by the same scammers.
What 4XC has that Mag Markets doesn’t have is a YouTube channel, on which we find 4XC CEO Joao Monteiro.
joao-monteiro-ceo-4xc-youtube.webp
joao-monteiro-ceo-4xc.webp
Monteiro (right) is a Portuguese citizen living in Cyprus. Like the Cook Islands, Cyprus is another scam-friendly jurisdiction with no active regulation of MLM fraud.
Monteiro’s LinkedIn profile details his involvement in several trading companies, dating back to 2008.
Absent is 8topuz, yet another forex “ai trading” scheme.
8topuz offers an easy to access AI-based automated investment system to effectively help you grow your wealth regardless of your knowledge in trading.
Current 8topuz clients are obtaining an average 2 to 4% monthly return on investment using our AI algorithms.
Investing into 8topuz will set you back $500, $10,000 or $100,000+.
investment-plans-8topuz.webp
Like 4XC and Mag Markets, 8topuz is a tangled mess of shell companies:
8topuz Wealth Fintech LLC is registered in Saint Vincent and Grenadines under Company Number 717LLC2020
8topuz Wealth Fintech Ltd is registered in Cyprus under Company Number HE396701 and an official trading partner of FX Capital. FX Capital MA Ltd is not independently regulated by the FCA.
FX Capital MA Ltd is a signal provider to Pelican Trading.
Pelican Trading is a trading name of London & Eastern LLP, authorized and regulated by the Financial Conduct Authority in the UK, ref 534484.
Registered address: 85 Great Portland Street, First Floor, London, W1 W7LT.
8topuz is an Investment Advisor for Coeus Capital BV, a private limited liability company incorporated under the laws of the Netherlands, with the Dutch Chamber of Commerce Register under the number 81976763.
Such are the hoops one must jump through to obtain banking channels to run your fraudulent business.
Anyway, a visit to 8topus’ official Facebook page reveals a “partnership” between 8topus and the notorious UAE Al Qasimi royal crime family.
8topuz-al-qasimi-partnership-announcement-facebook-sep-16.webp
BehindMLM is familiar with the Al Qasimis through their ties to the even more notorious OneCoin Ponzi scheme.
There’s probably more to the Joao Monteiro Al Qasimi rabbit-hole, but for the purpose of Mag Markets due-diligence, I’ll leave it there.
The “but we can’t touch your money!” securities fraud model ends in one of two ways;
- either the admin rigs trades in their favor and exit-scams; or
- the bot blows up.
Mr Joao Paulo De Sousa Magalhaes Monteiro
Person with significant control
consumer.queries@fca.org.uk
chairman@cysec.gov.cy
Joao Monteiro, John Goddard, Joao Severino of 4xcube, Cyprus.
4xc - another company name change - scammers - fraudsters
4xcube and 8topuz and now rebranded to https://4xc.com and this is why:
Directors Joao Monteiro, John Goddard, Joao Severino of 4xcube, Cyprus.
https://4xcube.com
Directors Joao Monteiro, John Goddard, Joao Severino of 8topuz, Cyprus.
https://8topuz.com
Fraudster Angelo Aristodimou, Managing Director, working together with 8topuz, Cyprus scammers working together.
McMillan Woods Cyprus has been assisting 8topuz Wealth Fintech since day one, mostly regarding Accounting and Auditing of our services.
We are extremely pleased with our collaboration and with their level of service.
Our software is the result of artificial intelligence, and our business is based on full transparency.
Abdulkader Aden MANAGING PARTNER, 8TOPUZ
All Cyprus scammers working together – deleting scam news together whilst we scam more people.
Cyprus Scammers working together
200 Archiepiskopou Makariou III Avenue, 1st Floor, Office 102, 2311 – Lakatamia, Nicosia, Cyprus
+357 22 276000
info@mcmillanwoods.com.cy
Many articles and videos posted online, here are a few
Paid articles Paid fake awards
https://fxnewsgroup.com/forex-news/retail-forex/exclusive-offshore-fx-broker-4xcube-rebrands-as-4xc/
https://m.youtube.com/watch?v=wz4krTxcfHg
https://m.youtube.com/watch?v=Ww-sLbJXPFI
https://medium.com/@4XC/4xcwho-is-joao-monteiro-of-4xc-online-trading-company-ecfde68089b5
Scammers
https://medium.com/@jmonteiro.speci...hmic-trading-in-todays-investing-70a2e39f31ec
https://m.youtube.com/watch?v=-bj1magXgbk
https://m.youtube.com/watch?v=x9AwZr8tENg
Unfortunately, we can’t recommend 4xCube due to the lack of serious regulation, as long as safety measures always go first the regulated status is the only that can confirm the implemented security. Overall, we would better advise choosing among the Regulated brokers from the resected and reputable entities that prove their status with the constant check on of the operation by the industry authorities.
Warning!!! Scam
Scammers John Goddard - Chief Financial Officer for 4xcube. Consults also for 3D Global, Cyprus. Refused to comment.
Joao Monteiro & Joao Severino
Previously these owners was of USI Tech (scammed a reported £80 million).
8topuz provides an Intelligent, supervised, multi-layered, AI Trading Software system that learns and adapts according to its environment.
Warning!!! Scam
Scammers Joao is lead developer and likes to use a Martingale strategy. This is pure gambling as the odds of the market is not what he advertises to his followers.
Joao advertises from multiple fake profiles using social media and email marketing.
Warning!!! Scam
Scammers Warning this company has stolen millions from investors from over 70 countries.https://4xcube.com
All awards shown on https://8topuz.com are paid for by review sites. Paid for... everyone because the real traders actually perform trades.
Audit accounts still show address:
| info@8topuz.com | |
| +359 56916949 | |
| 2 Vasil Aprilov, 2nd floor 8000 Burgas Bulgaria |
https://youtu.be/-bj1magXgbk
About 8topuz
8topuz was founded as a result of a deep understanding of the FX market and the director’s interest in automating trading using advanced technology and AI.
Warning
They have lost every account they have managed accept a few small amounts. They have only 1 year of historic accounts not 15 years. 8topuz has only 1 year, not fifteen years of software development.
Its product was initially tailored to retail investors, but as they moved forward, they adapted to the market in two different scenarios, 8topuz understood that it could also be a very useful risk management tool for banks and investment funds and other institutional clients. With its ability to adapt to any market scenario, 8topuz now caters to institutional clients, hedge funds, retail investors and banks, so that it can be either B2B or B2C.
They have lied gain and again to get funding from Dubai. They will just use their brand as their current one is a reputation disaster.
Warning!!! Scam
Scammers 
