HexMarkets
We are investigating HexMarkets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury.
PARTIES INVOLVED : HexMarkets
ALLEGATIONS : Perjury, Fraud, Impersonation
INCIDENT DATE : 13 Aug 2024
INVESTIGATED BY : Ethan Katz
TOOLS USED : Lumen, FakeDMCA, SecurityTrails
CASE NO : 6565/A/2024
CRIME TYPE : Intellectual Property Scam
PUBLISHED ON : 21 Nov 2024
Is This About You?
What We Are Investigating?
We are investigating HexMarkets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury
We are investigating HexMarkets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury
What are they trying to censor
HexMarkets, a forex trading platform, has come under intense scrutiny due to a series of alarming allegations and red flags that cast doubt on its legitimacy and operational integrity.
Lack of Regulatory Oversight
A primary concern is HexMarkets’ absence of proper regulatory licensing. While the platform is registered with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, this entity does not regulate forex trading activities. This means HexMarkets operates without the stringent oversight that ensures transparency and accountability in financial markets. Such unregulated operations expose traders to significant risks, including potential fraud and mismanagement of funds. ([Intelligence Line](https://www.intelligenceline.com/r/Reports/52452/hexmarkets-a-risky-choice-in-the-world-of-forex-trading/?utm_source=chatgpt.com))
Opaque Operations and Lack of Transparency
Investigations reveal that HexMarkets lacks a comprehensive and informative website. The domain leads directly to a trading platform interface without providing essential details about the company’s background, ownership, or legal documentation. This opacity prevents potential investors from conducting due diligence, a standard practice in assessing the credibility of financial service providers. ([Major Forex Review](https://majorforexreview.com/scam/hexmarkets-review-5-red-flags-about-hexmarkets-com/?utm_source=chatgpt.com))
Withdrawal Issues and Customer Complaints
Numerous traders have reported difficulties in withdrawing funds from HexMarkets. Complaints highlight delayed or denied withdrawal requests, with customer support offering little to no assistance. Such practices not only question the platform’s financial stability but also suggest possible fraudulent intent. ([Intelligence Line](https://www.intelligenceline.com/r/Reports/52452/hexmarkets-a-risky-choice-in-the-world-of-forex-trading/?utm_source=chatgpt.com))
Unrealistic Promises and High Leverage
HexMarkets advertises high leverage ratios of up to 1:500, a figure that appeals to high-risk traders. While high leverage can amplify profits, it equally magnifies losses, especially in volatile markets. Coupled with promises of guaranteed profits, these tactics are often employed by unscrupulous brokers to lure unsuspecting investors into risky trades. ([brokersview.com](https://www.brokersview.com/news/hexmarkets-reviews-is-it-safe-or-a-scam-235964?utm_source=chatgpt.com))
Negative Online Reputation
The platform’s online reputation is marred by negative reviews and warnings from financial watchdogs. The Spanish financial regulator, CNMV, has issued advisories against HexMarkets, indicating that it is not authorized to provide financial services. Additionally, scam detection platforms have assigned low trust scores to HexMarkets, labeling it as “Controversial” and “Risky.” ([Major Forex Review](https://majorforexreview.com/scam/hexmarkets-review-5-red-flags-about-hexmarkets-com/?utm_source=chatgpt.com), [Scam Detector](https://www.scam-detector.com/validator/hexmarkets-com-review/?utm_source=chatgpt.com))
Potential for Fraudulent Activities
The combination of unregulated operations, lack of transparency, and numerous customer complaints suggests that HexMarkets may be involved in fraudulent activities. The platform’s structure and practices align with common characteristics of financial scams, where investors are enticed with attractive offers, only to face obstacles when attempting to access their funds. ([funzonenews.com](https://funzonenews.com/viewtopic.php?t=660&utm_source=chatgpt.com))
Reputational Damage and Desperation
The accumulation of these adverse reports severely tarnishes HexMarkets’ reputation in the financial community. Such negative publicity can deter potential investors and lead to increased scrutiny from regulatory bodies. In a bid to salvage its image and continue operations, HexMarkets might resort to extreme measures, including illicit activities, to suppress or eliminate these damaging narratives. The desperation to maintain a facade of legitimacy could drive the platform to commit cybercrimes, such as hacking into websites to remove unfavorable content or launching attacks against platforms that expose their malpractices.
In conclusion, the myriad of allegations and red flags associated with HexMarkets paints a concerning picture of a platform that prioritizes profit over ethical practices and investor safety. Potential investors are urged to exercise extreme caution and consider these factors before engaging with HexMarkets.
- https://lumendatabase.org/notices/43798157
- Aug 13 2024
- QuantumReach Labs
- https://www.hexmarkets.com/
- https://www.brokersview.com/brokers/hexmarkets
Evidence Box
We are investigating HexMarkets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices.
Targeted Content and Red Flags
About the Author
The author is affiliated with Harvard University and serves as a researcher at both Lumen and FakeDMCA.com. In his personal capacity, he and his team have been actively investigating and reporting on organized crime related to fraudulent copyright takedown schemes. Additionally, his team provides advisory services to major law firms and is frequently consulted on matters pertaining to intellectual property law.
He can be reached at [email protected] directly.
Many thanks to FakeDMCA.com and Lumen for providing access to their database
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How This Was Done
The fake DMCA notices we found always use the ?back-dated article? technique. With this technique, the wrongful notice sender (or copier) creates a copy of a ?true original? article and back-dates it, creating a ?fake original? article (a copy of the true original) that, at first glance, appears to have been published before the true original
What Happens Next?
The fake DMCA notices we found always use the ?back-dated article? technique. With this technique, the wrongful notice sender (or copier) creates a copy of a ?true original? article and back-dates it, creating a ?fake original? article (a copy of the true original) that, at first glance, appears to have been published before the true original.
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Average Ratings
1.9
Based on 7 ratings
Addison Barnes
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This is not a trading platform, it’s a money trap. Deposited funds, made some profit, then poof could nott withdraw anything.
Mason Brooks
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This platform is a complete scam! Tried withdrawing my money, but they kept making excuses. Avoid at all costs!
Lillian Reed
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I was promised easy profits, but all I got was a nightmare. My funds are stuck, and support won’t respond!😓
Carter Hughes
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They lure you in with big promises, but when it's time to cash out, they disappear, I would definitely recommend staying away.
Holly Moore
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I invested $200 in a company after being contacted by an educator named Adhiran from the UK, but I haven't received any support or responses. I regret my investment as I feel cheated.
Cameron Harris
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I had a terrible experience with this company. They’re not transparent, and if you say anything negative, they respond with hostility. I would definitely recommend staying away.
Xander Green
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I had a very disappointing experience with account manager Raksitha. I entrusted her with $400 for trading, but unfortunately, her decisions led to poor outcomes. The trades she opened were completely off, resulting in the loss of my entire investment. It feels like my money was mishandled, and the whole experience has left me frustrated and disheartened.