|🏠 Entreprise||Max LLC|
|📌 Addresse||First Floor, Saint Vincent Bank Ltd Building, James Street, Kingstown, Saint Vincent and the Grenadines|
|⚖️ Régulation||Unregulated, Blacklisted, Offshore|
Do you remember receiving a call from your bank where they want to know your OTP to keep your account active? Today, many already know about the scam, and it gets difficult for scammers to make any profit.
Now, they don’t need to cold call looking for an innocent soul; instead, they come up with investment firms like Soltechx to steal your money.
Soltechx was founded in 2017 and is owned by Max LLC; the firm had previously owned BudsFX- another popular scam. It is located on the first floor of the Saint Vincent Bank building in Kingstown and can be accessed by investors through an online platform.
Soltechx uses a white-label platform named Sirix that is provided by Leverate; the service provider operates under a Cyprus license; however, their software is offered by multiple notorious firms that suggest a weak verification at their end.
Soltechx is currently unregistered with the SEC or FCA in the US, and their website doesn’t mention any credible license to affirm their legitimacy. No license means that if the company defaults on payments, no reimbursements would be provided to the depositors.
Soltechx has succeeded in luring various investors towards its projects by displaying unrealistic results that are improbable to achieve and more difficult to withdraw. They have four account types with different charges, spreads, and assistance.
The platform offers investors different digital assets, including cryptocurrencies, indices, shares, and currency pairs. However, unlike legitimate brokers, the platform provides no clue regarding the bid-ask spread or leverage.
Once the investor enters the trade, it gets impossible for them to exit with a profit. The bids are often low, leaving no profit for the trader, and they end up paying more in transaction fees. However, it isn’t Soltechx’s primary mode of looting investors.
Soltechx has a sketchy withdrawal policy that makes it impossible for traders to withdraw any profits. The company only allows you a ‘refund,’ meaning a trader can withdraw the deposited fee, but the profits stay in their Soltechx account.
Soltechx charges up to 50 pounds for a wire transfer; however, a credit card refund includes zero commission. Existing investors have reported an unfriendly attitude from sales staff and different excuses to delay or cancel the total withdrawal.
Soltechx offers an activity-based bonus for their investors; it is often publicized as a trader’s treat but is no less than other scams by the broker.
The company provides a $5 reward for every lot traded, meaning you will need to trade ten lots worth $1 million to receive $50 in reward.
Nonetheless, the terms and conditions require investors to sign a Bonus Grant Agreement that gives Soltechx the authority to deny claims.
Any Soltechx investor enters a scam that is impossible to exit with your deposits- the more you invest and the longer you last, the bigger the loss. If you are looking for a broker, use FINRA’s official website and research traders’ reviews.
Offshore brokers may come up with fake licenses; therefore, it is essential to confirm legitimacy by existing users.
We all make mistakes, and if you have invested with Soltechx, you don’t need to panic. You can still file for a chargeback, and your bank will recover your funds from the scam.
You can fill the form above to contact MyChargeBack. They will prepare your case and help you recover from the mistake.