You will read the dark details about this crypto investment scheme. The company’s website looks appealing but key info is missing such as a Terms and Conditions page.
We’re not convinced by Solix Group’s enticing presentation since the website tried to deceive us. Let us explain how in the Solix Group Review.
We believe so, mainly due to many dubious details and omissions. Let’s start from the beginning – this investment scheme is run by Solix Group AB, a company registered in Malmo, Sweden.
Since this website is engaged in crypto investments, the company would have to be regulated by the Swedish financial market authority, Finansinspektionen (FI). We checked the FI’s database but didn’t find any such entity.
Basically, this company may be incorporated in Sweden but is not licensed to provide financial services or hold on to or control clients’ money.
And since Sweden is part of the EEA zone, the FI implements the financial regulatory rules implemented by the European Securities and Markets Authority (ESMA). So Solix Group is not compliant with ESMA’s regulation.
Investing in this crypto scheme is not safe, there’s a great chance you’ll get scammed. Another crypto scam we must warn you about is EndoTech.
Our advice is that you find a regulated investment company or brokerage. We prefer Tier 1 regulators such as the FCA, ASIC, BaFin, FINMA, etc.
To recap, Solix Group isn’t regulated. All the talk about this company’s regulation is fake and meant to make Solix Group’s reputation seem legit.
The website states the company is “fully regulated by the Sweden Government and Financial Authorities,” which is a lie. We debunked that fraudulent claim in the previous section.
We did some research to find out where Solix Group was active, i.e. where the company tried to provide services and find clients. Here’s a list of countries:
Solix Group is not authorized to operate in any of these, especially not in its home country of Sweden. Shady companies such as Solix Group and Bitchain couldn’t possibly obtain a permit to operate in a heavily regulated domain such as the US.
When it comes to methods of communicating with clients, we found out that Solix Group uses a Telegram channel. Other social media platforms weren’t mentioned on the website.
Aside from Telegram, the company also uses an email and phone number. We wouldn’t be surprised if Solix Group was running shady marketing campaigns with the help of agents or fake reviews.
A complaint on Trustpilot tipped us off regarding Solix Group’s scheme. Namely, this one unfortunate victim outlined the framework of this company’s business.
The victim clearly states that he/she has been robbed. Please read this warning if you haven’t given up on Solix Group yet.
I have been robbed. These company has no mercy whatsoever. STAY AWAY! I was not aware that I need minimum amount 1000 USDT for my money to go on investment process. I have deposit 560 usdt. Then I could not complete the rest… Customer services told me to complete the requested amount. I live in Turkey and we had a massive earthquake. I have difficult circumstances… I can’t withdraw it. Manager said they will charge me 150 usdt to withdraw my own money without making any commission.
– Trustpilot user, February 22, 2023.
According to Solix Group’s website, the company offers three different investment packages:
Solix Group offers Bitcoin investments. Basically, you invest and the company manages your funds, promising overnight profits.
The crypto market is extremely volatile per se and when you trust an unregulated company with your funds, it’s pretty much impossible to guarantee any profits whatsoever.
Near the bottom of Solix Group’s Home page, the company promises rewards for each successful referral.
The website says that “you have to tell your friends, relatives or colleagues about our company. Direct referrals from you will entitle you to a commission of 5%. You can surely make a lot of money from the referral commissions you get!” This smells like a Ponzi scheme, which is a type of investment fraud.
According to the US Securities and Exchange Commission, “Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. But in many Ponzi schemes, the fraudsters do not invest the money. Instead, they use it to pay those who invested earlier and may keep some for themselves.”
To reiterate, Solix Group doesn’t have a Terms and Conditions file or a withdrawal policy. The website only offers a lengthy FAQ section. As for the payment methods, Solix Group listed the following:
Although Solix Groups claims that the minimum deposit is 50 $ for the Economy package, the trader’s complaint we posted claims that the company demanded 1,000 $. Allegedly, the company doesn’t charge any fees.
Please write a complaint against this company on a forum, you should warn fellow investors and traders about this scam.
If you’re having withdrawal issues and/or are wondering how to get your money back, Global Fraud Protection is here to assist you. Our experts are experienced in bank chargebacks and advanced crypto-tracing software, CipherTrace.
If this company scams you, contact us for help. Unsure what to do? Book a free consultation with us using Oline Chat, it’s the fastest and easiest way!
No. Solix Group is not registered with the Swedish FI. Do not invest in this scheme. If you did, please call us for help.
No. Solix Group is not a real broker and doesn’t offer trading accounts but rather investment packages.
No. Solix Group does not offer a mobile trading app.
Solix Group does not offer any trading platform.
No. Solix Group is not registered with the Swedish FI. Do not invest in this scheme. If you did, please call us for help.
No. Solix Group is not a real broker and doesn’t offer trading accounts but rather investment packages.
No. Solix Group does not offer a mobile trading app.
Solix Group does not offer any trading platform.
The post What You Will Read About In the Solix Group Review appeared first on Global Fraud Protection.
