Solmax Global Review: Equity Token unregistered securities scheme
Solmax Global provides no information on its website about who owns or runs the company.
The Solmax Global website domain (“solmaxglobal.com”) was privately registered on October 4th, 2017.
At the time of publication Alexa cites Pakistan as the primary source of traffic to the Solmax Global website (49%).
This suggests that whoever is running Solmax Global is likely based out of Pakistan.
Based on Solmax Global marketing material, another possibility is someone residing in the UK with strong links to Pakistan.
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.
Solmax Global Products
Solmax Global has no retailable products or services, with affiliates only able to market Solmax Global affiliate membership itself.
The Solmax Global Compensation Plan
Solmax Global affiliates invest in “Equity Tokens”.
Equity Tokens appear to be some sort of internal cryptocurrency token Solmax Global have created.
Solmax Global affiliates invest in Equity Tokens on the marketing representation that they will rise in price (by) 600% to 800%.
Solmax Global pay commissions on direct and indirect recruitment of new affiliate investors.
When a new Solmax Global affiliate signs up, they have to invest in one of the following packages:
- Basic – £100 GBP
- Starter – £250 GBP
- Executive – £500 GBP
- Professional – £1000 GBP
- Premium – £2500 GBP
- Elite – £5000 GBP
- Supreme – £10,000 GBP
- Max – £25,000 GBP
Note that Solmax Global do not provide information on how many Equity Tokens are provided at each investment tier.
Also note that only 66.6% of commissions paid out by Solmax Global are withdrawable.
The remaining 33.3% are paid out into a “trading account”, which presumably must be spent on additional Equity Token investment.
Solmax Global Affiliate Ranks
There are seven affiliate ranks within the Solmax Global compensation plan.
Along with their respective qualification criteria, they are as follows:
- Associate – invest at the Executive or higher tier, convince others to invest at least £5600 GBP and recruit at least two Executive or higher investment tier affiliates (one on either side of the binary team)
- Executive Associate – convince others to invest at least £32,000 GBP (min £8000 on one side of the binary team) and personally recruit and maintain at least two Associate or higher ranked affiliates (one on both sides of the binary team)
- Team Leader – invest at the Professional or higher tier, convince others to invest at least £64,000 GBP (min £32,000 on one side of the binary team) and personally recruit and maintain at least three Executive Associate or higher ranked affiliates (min one on both sides of the binary team)
- Regional Manager – convince others to invest at least £160,000 GBP (min £64,000 on one side of the binary team) and personally recruit and maintain at least three Team Leader or higher ranked affiliates (min one on both sides of the binary team)
- Regional Director – invest at the Elite or higher tier, convince others to invest at least £400,000 GBP (min £160,000 on one side of the binary team) and personally recruit and maintain at least four Regional Director or higher ranked affiliates (min two on both sides of the binary team)
- Regional Vice President – convince others to invest at least £1,200,000 GBP (min £400,000 on one side of the binary team) and personally recruit and maintain at least five Regional Director or higher ranked affiliates (min two on both sides of the binary team)
- Senior Vice President – convince others to invest at least £6,400,000 GBP (min £1,200,000 on one side of the binary team) and personally recruit and maintain six Regional Vice Presidents (min three on both sides of the binary team)
Referral Commissions
Solmax Global pays affiliates 10% of funds invested by personally recruited affiliates.
Residual Commissions
Solmax Global pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each week Solmax Global tallies up new investment volume on both sides of the binary team.
Affiliates are paid 10% of investment volume generated on their weaker binary team side.
Leftover volume on the stronger side is carried forward into the following week.
Matching Bonus
Solmax Global pays a Matching Bonus 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.
Solmax Global caps payable unilevel team levels at twelve.
The Matching Bonus is paid out as a 2% match of referral and residual commissions paid to affiliates placed within these twelve levels.
How many levels the Matching Bonus is paid out on is determined by how much a Solmax Global affiliate has invested:
- Basic and Starter affiliates don’t qualify for the Matching Bonus
- Executive affiliates qualify for the Matching Bonus on levels 1 and 2
- Professional affiliates qualify for the Matching Bonus on levels 1 to 4
- Premium affiliates qualify for the Matching Bonus on levels 1 to 5
- Elite affiliates qualify for the Matching Bonus on levels 1 to 8
- Supreme affiliates qualify for the Matching Bonus on levels 1 to 10
- Max affiliates qualify for the Matching Bonus on all 12 levels
This is in addition to requiring each affiliate to have personally recruited at least two Executive or higher investment tier affiliates (one placed on both sides of the binary team).
Global Pools
Solmax Global take 5% of company-wide investment volume and place it into three Global Pools.
- Top Producer ranked affiliates receive a share in a 1% Global Pool
- President ranked affiliates receive a share in a 2% Global Pool
- Executive ranked affiliates receive a share in a 2% Global Pool
In their compensation plan Solmax Global defines a “Top Producer” as the top ten affiliates in each country based on “business production”.
One can safely assume “business production” correlates to downline investment.
To qualify for the President rank a Solmax Global affiliate must invest at the Elite or higher tiers.
The 2% Executive Global Pool is split between six Solmax Global affiliate ranks:
- Executives receive 6%
- Team Leaders receive 10%
- Regional Managers receive 14%
- Regional Directors receive 18%
- Regional Vice Presidents receive 22%
- Senior Vice Presidents receive 30%
As per the above qualification criteria, the Global Pools are paid to qualifying affiliates daily.
Rank Achievement Bonus
Solmax Global rewards affiliates who qualify at the Associate and higher ranks as follows:
- Associates receive a Solmax Global branded fountain pen
- Executive Associates receive an Apple iPad Mini
- Team Leaders receive an Apple iPhoneX
- Regional Managers, Regional Directors and Regional Vice Presidents receive a “car” at each rank
- Senior Vice Presidents receive a “house purchase contribution”
Joining Solmax Global
Solmax Global affiliate membership is tied to a £100 to £25,000 GBP investment.
The more an affiliate invests the higher their income potential via the Solmax Global compensation plan.
Conclusion
Solmax Global claim their Equity Tokens are backed by Igniter100.
Solmax Offers a global opportunity in referral marketing to those, who like to achieve more and dream more.
We are partner with Igniter100 to market its Equity Tokens and earn rewarding commissions.
Igniter100 has its own website, on which it claims it
provides funding and an offsite incubator environment through which promising FinTech startups can find the resources and tools needed to thrive.
Igniter100 is based out of the UK and headed up by COO Florian Krueger.
According to Krueger’s LinkedIn profile he’s
an experienced board level executive with a successful track record in strategy planning, business & market development, product management, sales and contract negotiation.
Specialties provided on Krueger’s profile include:
- DLT, Blockchain, Enterprise Architecture, Big Data & Business Intelligence, Agile Digital Transformation
- Global Development of Companies and Markets, with focus on EMEA and the US
- Corporate Strategy and
- Marketing, PR and communications
To what extent Krueger is or isn’t involved in Solmax Global is unclear.
What isn’t disclosed on the Igniter100 website is where the company sources its investment capital, or how much it charges.
Regardless, as stated in the Solmax Global compensation plan:
Igniter100 will share its profits with Equity Token holders.
This suggests that Igniter100 is a supposed source of external revenue for Equity Tokens.
The Solmax Global compensation plan also states that Equity Tokens “are tradeable on exchange”.
Equity Tokens aren’t publicly tradeable, so this suggests either Solmax Global or Igniter100 are running an internal exchange.
From here it’s the same old MLM Ponzi points model.
Solmax Global affiliates invest up to £25,000 GBP a pop in Equity Tokens.
Either Solmax Global or Igniter100 set the internal value of Equity Tokens.
As per whatever value is assigned at any given time, Solmax Global affiliates are able to cash out a ROI through an internal exchange.
The long and the short of it is Solmax Global are accepting real money for worthless tokens.
In order to prove Equity Token returns are funded by external revenue generated through Igniter100, Solmax Global would have to register itself with the Financial Conduct Authority.
This would require them to file evidence of audited accounting, proving that external revenue is being used to pay affiliates.
At the time of publication neither Solmax Global or Igniter100 are registered with the FCA.
This means that at best, Solmax Global is operating as an illegal unregistered securities offering.
At worst Solmax Global is using newly invested funds to honor Equity Token ROI withdrawals, which would make it a Ponzi scheme.
On top of this a lack of a retail product means commissions paid out in Solmax Global are tied to pyramid recruitment.
Unfortunately the FCA aren’t known for active regulation of unregistered securities MLM schemes.
This means that it is far more likely that Solmax Global will expire through collapse.
The math behind Ponzi schemes dictates that when they collapse, the majority of investors lose money.
Update 16th October 2021 – Following withdrawal delays for months, Solmax Global appears to have collapsed.
A reboot has been promised by the end of the month.
This is a complete scam company. The igniter100 tokens are not backed by anything but a few thousand pounds total investment, divided by 1billion tokens, I’m afraid your token is completely worthless.
Please contact your local authorities to report these people if you have been scammed, as what they are doing is illegal and you may be able to get some of your money back.
Jeff,
I’m offering you and the writer of this review a live debate about igniter100 and solmax.
If you are brave enough, you are more than welcome to contact me for arrangement.
Thanx
What’s there to debate? The facts regarding Solmax Global’s opportunity are laid out in this review.
If you can’t address them you’ve already lost any debate.
What about you try it Oz? Live has deferent tast.
No it doesn’t. Solmax Global’s compensation plan and securities fraud concerns don’t change just because the company is discussed live.
I have looked in it thoroughly, I do not see any issue in-terms of Igniter100, they seems to be fine as they have live projects and investments going on.
Company founders are real identities, I have checked all out.
They claim Solmax is a marketing wing for them, they are raising equity by selling FinTech packages via Solmax team which ultimately help them to accomplish igniter100 projects.
I don’t see any harm in their model at all.
@Jeff ……They are giving away equity tokens of igniter100 which are obviously backed up igniter100 projects.
@Jeff … you should contact to the management of the company and should raise your concerns, look like you have lack of information here.
I would be in doubt if igniter100 would not be developing projects BUT they have been in the business for more than two years now and they have been in rapid progress in their projects !!!
Regards
Bako
I was introduced to solmax a year ago, offering me courses rewarded with Igniter equity.
I am a very sceptical person. Specially to the companies attached to mlm structure. I try to stay away. But today i am a customer of one of their project called yourent.co.uk.
I have my property listed there. Dsnt seem to be an issue so far.
@bako
If that was true you’re either fine with Ponzi points and securities fraud, or willfully incompetent.
Ponzi schemes claim any old bullshit to get you to invest. Unless Solmax Global is registered with securities regulators (both where they are based and wherever you’re investing from), the company is operating illegally.
The only reason an MLM company would opt to operate illegally is if they aren’t doing what they claim they are.
@Moritz
YouRent has an Alexa ranking of 1.3 million. Nobody is using it outside of Solmax Global.
And even if they were, there are no financial regulatory filings confirming YouRent or any generated external revenue has anything to do with Solmax Global.
In typical Ponzi fashion, YouRent is strawman marketing smoke and mirrors.
You’re not skeptical, you looked for any excuse to invest. So long as new people join and invest for you to steal from, you clearly don’t give a shit.
At least be honest chief.
I invested in in the name of igniter 100. I Invested 2000 pounds.
I got the equity tokens. It gives the options to withdraw your daily withdrawals to bank or to Bitcoin.
Daily withdrawal at the moment is set to 3.30 pounds per day.
I have at least 500 pounds ready to be converted to cash but Guess what,it has been stuck to “In process” for the last 3 months as i try to convert it into cash.
My investment is stuck.
I contacted ( Solmax ) support and they do not reply.
I messaged igniter 100 they said that we have nothing to do with solmax 100.
I have the screen shots of the chats i had with igniter 100.
This actually is a potential fraud.
@jaffer
They don’t pay daily income as far as I know, how come you are allowed to earn daily.
You need to wait until they float.
So you’re in a daily ROI Ponzi scheme and not even getting paid. #fail
This is an obvious rip-off, most likely fraudulent.
If you’re affected and have “invested” money, report to the authorities asap to have a chance to recoup some of the money.
Hi @Oz,
If you have a look at company house UK, you can see that Solmax is a fully registered company with its main owner being Sandhu Abdulrehman.
I would really appreciate if you could write an updated version of this solmax company. And make everything more clear and up to date.
Thank You
Companies House is a joke. We don’t take any information submitted to it seriously.
HI,
Abdulrehman Sandhu is a fraudulent man. He owes money to lots of worker.
I heard many of his networkers planing to take him to court.
This guy hasn’t got any ethics. His end will be awful.
He hires staff, don’t pay them and eventually they leave him.
My own commission withdrawal £708 is stuck. He is a lier.
I only have to check and found out about this info only now after I have join Solmax global. OMG.
@Jaffer are you willing to share the screenshots of the conversation with igniter 100?
I’ve noticed that the office address of solmax global and igniter100 are the same, even the app yourent. Quite suspicious.
I was introduced to solmax earlier this year feb 2020..I was quite sceptical but I finally got strength to take the risk..
I have noted most of this solmax top leaders have got history of scamming people especially in asia Africa Europe and USA. This is serious fraud concern that everyone need to take seriously.
Solmax is a SCAM!!!!
in this chat no one introdure the scam of solmax, only word of scam is used severil times.
if anyone have the proof or a valid locgic that they do scam then kindly share the logical reasons so that other peoples should avoid this scam… thanks.
Unregistered securities = scam.
i have invested nearly 1100 pounds to this pathetic scam and i could not get it back.
i contacted them but no reply, tried transfering 50remaining in my cash out account to my bitcoin wallet but it was stuck on withdrawal pending now over 2 weeks.
this company is a fraud the customer service is useless and no body should be a victim to this ponzi scheme period.
HI friends, i had invested 100 Pound here in solmax, as conversation here i am not going recruite downline.
if it scam then i am not going to do any business here.
I was invited by my friend to join this Solmax Igniter100 and i was tempted to join until i visited this site.
What made it suspicious was the ROI i mean you invest R2500 in South African currency then within 200 days you get a massive R98000 that is like 800% return.
This has markings of a scam all over it but i will see when his 200 days end what happens.
Seeing as you’ve fallen for the “if I get paid it’s not a scam” angle, I’ll point out that regardless of whether you personally steal money or not Solmax Global is still a scam.
MLM + securities fraud == Ponzi scheme == scam.
Please someone should tell me about solmax. I want to understand something.
Solmax Global is a Ponzi scheme. Invest = money go bye bye.
They are registered with Financial Conduct Authority (FCA) UK and also member of UK Chamber of Commerce i think.
And company has on ground based projects than where is doubt?
If solmax is linked with igniter100 than whats the concern?
Anyone can search the FCA’s Financial Register and confirm Solmax Global isn’t registered.
Try harder scammers.
This is an obvious scam enterprise, beware! Do not send money and if you have already, try to request it back and report to the police immediately.
This firm is not registered or approved by the FCA nor has it any legitimate business going. It resides at changing short term office space letter box addresses.
Check the company accounts -freely available on Company’s House, there are no assets in the entity.
Hope all this reviews about SOLMAX not being a reliable place for investors are true?
Solmax is reliable at committing securities fraud. How you feel about investing in scams is up to you.
This is too bad and they are busy getting more funds from unsuspecting Clients.
What about their Thailand trip which is the talk of the Town this they claim planning for over 1 million people and billions has been invested into their Company.
What about it? Has nothing to do with Solmax Global continuing to commit securities fraud because it’s a Ponzi scheme.
Unless a passive investment MLM company has filed audited financial reports with regulators, all marketing claims = bs.
what can be done to stop this people bcs they’re causing calamity to the entire world.
Hellow guys.. SOLMAX global and igniter100 was introduced to us by a friend here in philippines. He sent us a link to pre register.
I registered my whole family but not activated yet. When i saw the video presentation i was amazed coz im into tech and they showed legalities.
So im eager to learn about solmax and igniter so i did my research until i got here. I read all the comments both nega and pos.
In my evaluation!! i will back out.
I really dont know but I am starting to think it’s a scam.i invested N$1700. Still waiting to see if it’s a scam or not.
No need to wait.
MLM + securities fraud = Ponzi scheme.
All Ponzi schemes are scams. Sorry for your loss.
OZ
PLS WHY DO YOU HATE THIS COMPANY SO MUCH.
ALJAZIRA TELEVISION JUST SPOKE ABOUT THEM IN GREAT REGARDS AND SAID THEY WILL BE LISTED MARCH AND APRIL 2021. PLS VERIFY…
I can verify:
1. You asking me to verify your claims without providing any evidence of your own means they can be dismissed.
2. Legitimacy via association isn’t a thing. Solmax Global is a Ponzi scheme because of its business model.
3. Reducing the fact Solmax Global is a Ponzi scheme in which the majority of investors will lose money to hate is childish.
And as an aside, learn how your shift key works.
Just got hint of Solmax and actually planning to invest in it, until I got here.
I may reconsider my decision to join. We must not encourage Ponzi schemes.
The review is your thought.
The more you do unreasonable research, the more am earning money. Very soon you’ll be making use of Fingopay, a technology highly funded by Igniter100.
Don’t let what the writer thinks stymie you from grabbing this opportunity.
Solmax is real. Leave all these I-too-know writers.
No the review is based on facts, namely that Solmax Global is committing securities fraud because it’s a Ponzi scheme.
Whether you find the fact Solmax Global is committing securities fraud unreasonable or not is neither here nor there.
I’m willing to bet a bajillion equity tokens that I won’t.
Nobody is claiming otherwise. Solmax Global is a real Ponzi scheme.
Solmax Global had all but collapsed. Looks like mid 2020 they found new suckers to scam in India, Singapore and the UAE.
I guess that means we can look forward to more shills coming out of their hidey holes *groan*.
My very closed friend got persuaded real bad by the uplines or whatever you call their titles. He keeps recruiting people to join and I’m afraid he still believes that its not a scam at all.
I hope people he recruited wont get back at him once they started to steal their money.
Hello,
I am not a member, but my friends trying to get me in, I have a big doubt.
They claiming that he company is registered in FCA, company Reg. # 10920141.
Is any one can confirm to me this point, because am trying to stop other friends, a lot of people are joining this company .
You can punch “10920141” into the FCA’s financial register yourself and see nothing comes up:
register.fca.org.uk/s/
Not withstanding the UK is a joke jurisdiction and for the purpose of due-diligence is meaningless.
SOLMAX is real, registered and Legal. Soon we will go Thailand. Please negativity minded people stay away from SOLMAX.
Registered where?
Solmax Global isn’t registered to offer securities in any jurisdiction. Securities fraud most certainly isn’t legal.
Weather, Solmax is a scam or not, let’s utiilise the opportunity now that is still on and crab the money at least with an open account,where u withdraw weekly or as the case may be.
I’m in already, and have withdrew for two consecutive times now.
Pls lests maximize our potential as they(Solmax) told us. Opportunity comes but once. Bye.
And over on the right here we have exhibit A, a garbage human being.
Keep been busy doing analysis on weather Solmax is a Ponzi scheme or not, while others are busy making real money from it on daily basis.
So money is more important to you than integrity. Got it.
The “analysis” was done two years ago. Only Solmax scammers are still busy today pretending it’s not a Ponzi scheme.
Hello.
They are claiming the company registered in FCA, but when I double check I found it is called igniter Pay UK:
register.fca.org.uk/s/firm?id=0010X00004ZBiwqQAD
And registered small payment institution as application to transfer money , but not yet started , they are using this as the company registered in FCA.
I fully agree with OZ this company collapsed 2 years ago, but one leader I know him started it in March 2020 and targeted other team, majority from Pakistan, Philippine, Middle East And Thailand.
Sooner it will collapse again maximum by June 2021.
Those who is saying to grab the opportunity and profit from this company, think about those innocent who will join before the company will collapse and they will be a lot of them, who dream to change they life.
I really feel so sad for them.
If we can pass this message to stop the scammers.
Thanks
Well hello to all here, I’ve just joined out of respect. We all know how binary system works. I don’t need to elaborate on that.
But I had the same arguments to the people in Solmax.
To find out solmax status, ask for an Audited Financial Report prepared by the big 4 audting firms in the world.
If they have, then thats good, if they can’t then something is wrong.
Solmax Global isn’t registered with a securities regulator in any jurisdiction. Nor have they filed any audited financial reports.
Yet you still joined. Herp derp.
Oz mate you are an absolute legend. Possibly saved unsuspecting, uninformed, unwise investors thousands if not hundreds of thousands of pounds with your commitment here on the board. I salute you.
Now getting back to the matter in hand. I can 100% confirm that its a scam. The crazy thing about this one is its a Ponzi scheme fraud and mlm fraud in one. I will keep it as short as possible.
On the MLM side they have packages that are 5000 pounds to join and also promise to bring in residuals via further recruitment, that is a classic mlm scam. They need me to heavily invest and find further investors.
The compensation plan is designed in a way that around 85% of residuals generated from the people i bring will trickle up to the top of the scheme leaving me who actually done the recruiting a mere 15%.
When shit hits the fans imagine this. Your doing the explaining to your friend because you took 15% commission and the top blokes who you never seen bagged 85% of that recruits residuals. They make the money, you do the explaining. Classic.
On the Ponzi side they promise returns of 0.5% a day which is crazy. So in 200 days you would double up. Thats 15% a month you will see in your dreams to be honest.
I know many investors who have invested several thousands in to this and are yet to withdraw money. So many cases where transactions take months to process and blocks for no apparent reasons.
Also your are FORCED to re invest 33% of your returns regardless. No investors should be forced to re invest unwilling end of. Also on a final note, there is a 10% withdrawal fee on any amount of returns withdrawn. Let that sink in.
Solmax and Igniter100 are the same people period. The scam is thriving in the African/Asian community as i can perceive.
They are NOT FCA/FSA registered or authorised by any means. That is a clear sign to stay away.
They have registered a different company called Igniter Pay with FCA. Its very smart what they have done but your boy Osman here aint not idiot here so I investigated further. Not to my surprise thats a fraud too but a more clever one, heres why.
They know to get the investments keep on coming they need to be in the FCA website one way or the other. FCA has 2 levels, Registered and Authorised.
Now igniter pay falls under e-payments section. Generally what happens is a when small company wants to provide e-payment facilities they can REGISTER through the FCA but link there payment services to a bigger e-payment merchant who is AUTHORISED so they can process payments.
So until they connect to an authorised payments processed they can stay registered, this only applies to e-payment type businesses due to the nature.
They have used this loophole to have a registration but no authorisation. For the naive investor as long as they see a similar name anywhere on the FCA website thats it they will invest.
It mentions clearly on the website that registration is only limited and that the investments are NOT covered by the protection scheme and also the the ombudsman will NOT look in to any fraud or complaints. End of.
Finally covid has been a blessing to them, heres why. They where supposed to bust long time ago, however they are now saying due to covid, floating of the company has been delayed for another 12 months plus, maybe more.
This has created the perfect conditions for them to continue unscathed. They have delayed payments for another year due to this to keep on going.
I genuinely ask all my fellow investors to steer clear away from this one. I put in blood, sweat and tears to raise my capital and will not let a silly scam take that away from me.
Be wise, be patient and hustle hard. Love from a fellow investor.. Peace out.
Thanks for the support! Nice to see someone taking the time to do their own due-diligence.
The more analysis you make, the more I earn my daily returns and the more money I make every Monday.
In solmax we’re maximising our potentials.
You’re just a wicked competitor, trying to spoil someone’s else business.
What makes you think anyone gives a shit about your personal finances?
Geez, some of these Ponzi scammers hey. Best of luck to you and your numbers on a screen.
Yeah, no worries kween. You got me.
Thanks Oz for dis review, is really helpful to me… you’re indeed a good soul.
with d comments so far, I’m convinced dat dis Solmax is indeed a scam company…
Oz what is your source for the facts that your telling to us?
Solmax Global’s compensation plan, which you can verify yourself.
Good afternoon everyone Pls does anyone knows anything about Bizztrade??
Pls, is it a safe platform to invest?? I really want to invest with them, to see if I will recover from them Incase Solmax fails me!!
Already I have invested #450’000 naria with Solmax
BizzTrade is a Ponzi scheme like Solmax Global.
https://behindmlm.com/companies/bizztrade-adds-crypto-fraud-with-bizzcoin/
Good day everyone, please I’m about to invest on solmax because a friend of mine just introduced it to me and I’m convinced to give a try!
Please any advice and how legal is solmax?
Read the review. Securities fraud is illegal. Ponzi schemes are illegal. Pyramid schemes are illegal.
This is hilarious
Review is up, says Solmax is a Ponzi scam like 40 times. Comments are full of “I dont care I make money” – obvious scammers. And “It’s a ponzi scam” – rational people.
Then you get the 3rd type “So is this a scam?”
My word people. Yes its a scam.
It’s not the type of scam that takes your money and immediately leaves. It’s the type of scam that brings in as much money as possible and pays out some till the owners decide they’ve skimmed enough,then close it down with millions/billions gone.
Here’s a great example for the commenters that have issues because “they’re registered” etc
https://behindmlm.com/mlm-reviews/mirror-trading-international-review-forex-trading-daily-returns/ <- It started
https://behindmlm.com/companies/mirror-trading-international/mti-announcement-throws-ceo-and-wife-under-the-bus/ <- It's long dead
Mirror Trading International was registered for Tax,was registered with the CIPC as a limited company.
The shareholders and management were known real people (that all had past scam experience).
The company ran its ponzi for bit more than 1 year before they starting having "payment" problems,then one day just suddenly stopped working.
How did we know it was a scam?
1) They offered 0.5 – 1% per day
2) Their management were involved with previous scams and MLMs
3) They werent registered to offer securities in any country
4) Rather than registering when countries started banning them,they refused to accept they needed to be registered
5) They called anybody that called it a scam "haters" or "competitors"
6) They said you can't judge if you didnt try it
7) They had referral structure and used "Uplines/Downlines",with bonuses
8) They claimed to have a unique product that outperforms everything else in the world
Go ahead and read the comments under their Review,it's the exact same nonsense each supporter posted here.
I have one question here , if you guys know about Crowd1, they are in the market since 20 months, the same not registered in any of financial regulator, any this company got more than 12 securities fraud warning.
Meanwhile Solmax completed 3 years but no fraud warning has send to them . That is why the company encourage to do more fraudulent.
@OZ , I read all you comments and I found out you are really have complete knowledge about this company since 2 years.
Why don’t you send to FCA email to creat awareness so they can issue a warning to them.
Once one country issue this warning all will follow.
And this will help to stop generating more victims and stop leaders to Scam the poor people from the hard earned money.
I really don’t know how to communicate with FCA , if you could explain it to me I will do it.
My email (removed)
Thanks
1. Not receiving securities fraud warnings from authorities != legitimacy
2. Not getting shut down by authorities != legitimacy
3. I run BehindMLM, a publication that covers the MLM industry. I’m not an advocate/activist.
4. You can contact the FCA through their website.
A quick look at Solmax Global’s Alexa statistics shows activity in Pakistan, India and Nigeria. None of these countries are known for active securities fraud regulation.
From time to time Nigeria’s SEC issues a warning but that’s still rare. The FCA are unfortunately as useless as securities regulators in all three countries.
Everything AntiMLM said is true, but point 1) is really all you need to know. If someone offers daily or weekly returns, it’s ALWAYS a scam.
ALWAYS.
I see things like this and I am ashamed to be a Nigerian.
The average Nigerian doesn’t care who dies so long as HE turns in a tidy sum. The thought process of the people is greatly flawed and that’s why scams like these are so attractive to them.
Nearly all the names trying to defend this scam are Nigerian.
I was invited to a Solmax Meeting on 6th March, 2021 at 805 Restaurant Abuja, Nigeria. They hall looked exquisite.
It was a VIP meeting, as stated in the invitation. Its was strictly on invitation. Millionaires were allover the place.
They talked about how Solmax is connected with Ignite100. How Solmax sells shares. The company uses the shares to invest in tech companies that has potential to become very successful.
One of the company they mentioned is Physee. They said Physee is transforming windows into solar panel, with such technology, the company’s share will grow very quickly in value.
They mentioned some other companies with different new technologies. They pointed out that having shares in Physee and other new tech companies is like having shares in Facebook or the Boring Company when its still at infancy.
Such shares will worth billions in a couple of years. So, it is from the quick growth of the companies’ shares that the investors will be paid.
They claimed that solmax is registered with financial agencies in UK and Nigeria.
They also told us that the company’s shares will become expensive by April by then, it will be sold only through banks, so, what they are offering is an opportunity for the common people to become shareholder.
They insisted it is advisable we register immediately at the end of the meeting.
The meeting ended in an hour. They served us expensive foods that the 805 Restaurant is know for. Many people started to invest immediately.
The person that invited me to the event is a millionaire and a high ranking government office holder in Nigeria. Because of him, I was almost convinced it was a real business but my gut feeling keeping telling me its a punzi scheme.
I decided to do more research. Then, I stumbled upon this page.
The reason they are getting Nigerians to invest is because the major people that have invested were millionaire who can overlook the money if it gets lost.
Those millionaires now uses their influence to persuade the common people to invest. Also, Nigerians don’t know where to go and get verification for the authenticity of such fraudulent businesses.
Again, Nigerians are looking for opportunities to make profitable investment but the countries economy keep going down. So, its not advisable to invest in Nigerian companies.
This is why Nigerians keep falling victims of these foreign ponzi schemes.
I have to write all these because I want Nigerians to know all the strategies they are using to trick people into investing.
Please, Nigerians, stop going into MLM that do not have products that you can market and get paid from the profit.
I am so blessed to have landed on this page, previously I was invited by a certain gentle man who introduced me to solmax company as the best company in the world paying on a daily basis returns of investment depending on the package purchased from Monday to Friday.
Something which got me suspicious hence doing more research. Thanks for saving me from losing my money to thes useless scammers.
God bless you. Mick Kampala Uganda
There’s a few of you from Africa who’ve commented recently.
When I wrote this review Solmax Global was pillaging Pakistan. Looks like they’ve milked Pakistan dry and now it’s onto Africa.
Accordingly to Alexa Nigeria is currently 42% of all Solmax Global website traffic. South Africa is climbing at 9%. Pakistan has dropped to 16%.
I guess Africa will pay off the Pakistani bag-holders and then it’ll be the same old sorry for your loss.
Glad to hear at least a few of you aren’t falling for it.
Welcome to behindmlm, Mick; I’m glad you didn’t fall for the Solmax hype. I’ve advised many visitors to this site (for example, comment #72 in this very thread): anyone who offers daily or weekly returns is running a scam. You don’t need to know anything more than that to protect yourself.
No legitimate investment opportunity offers daily or weekly returns, ever.
@Oz someone say solmax targeted pakistan uae and philippines I guess it’s true coz my co-worker who is IMP at solmax is recruited by a man who is from uae.
I posted this review at my timeline so no one from my friends or co-workers will be fraud.. thanks.
It is in Bangladesh now. I think we are the next target.
OZ can you check the website traffic from Bangladesh & inform us?
Not to say that it might not be rising but currently Bangladesh isn’t in the top three.
You can check the countries yourself here: alexa.com/siteinfo/solmaxglobal.com (scroll down)
Hi, I am planning to invest in Solmax but after reading the reviews here. I change my mind.
Thanks for having landed on this page. In my conclusion, Solmax is a clever way to Scam people.
I feel very sad seeing all this comments because I have already invested,now how can I get my money back?
You can’t. That’s not how Ponzi schemes work.
solmax isnt yet registered in all countries yet, i know quite alright it dosnt have a legal operations in Philippines but does in some other countries.
i have been scrolling down these comments but cant find one person who claims solmax has defrauded them for over 5years of operation all i hear are talks built on frustration and fear.
let me make this straight i have never seen a clear ponzi investment last up to even a year all investments are risky both in banks or any legitimate company so far solmax is making progress and improving so bear it in mind that no matter how legit or true something is some people will still speak ill of it.
if u wnt to invest u invest and stop listening to this OZ guy he has no clear evidence he only speaks his point of view every one who has invested in solmax for years now are making there money.
No, no it doesn’t. Solmax Global isn’t registered to offer securities in any country.
1. Solmax Global targets non-English speaking third world countries.
2. Solmax Global is a Ponzi scheme regardless of whether its victims acknowledge their losses or not.
That’s nice, but irrelevant seeing as Solmax Global’s business model is neither “legit or true”.
MLM + securities fraud = Ponzi scheme. Just because you ignore the evidence doesn’t mean it’s not there.
Presently Solmax Global’s website traffic is on the decline (which is why you’re here).
Unless victims in Pakistan, Nigeria and the Ivory Coast find new victims, sorry for your loss. Maybe you could try raiding fourth world countries?
@Oz in Abuja Nigeria, that is the latest online biz going on now, I pity investors investing without research.
I was introduced to it now, but I bet you, I googled it and behold ur comment was the first thing I read, thanks for the awareness.
invest wisely don’t be a victim of ponzi.
Thanks for the support! Glad you found our research useful.
Solmax is a scam..I join solmax this year February.. I deposit 500pounds to solmax account..
up to date they haven’t update anything on my profile. when I send them messages, no reply..
The solmax website is going to expire in a month or two so be aware and I don’t see they renew the website contract so in All I found it’s worthless to invest in solmax now.
If you know what’s good for you Nigerians and anyone else do not join this fraud company.
Back in early 2019 i joined and they said they will be floating on the London stock exchange up to today no signs of that. Then we had trouble with withdrawal no luck then.
The top people in the company had problems getting they pay, After that it just seemed like everyone just gave up and moved on up. to today no one as been paid and the company still as the people joining and yet nothing said about they bad conduct.
If you know what’s good for you Nigerians and anyone else stay far away.
Solmax, till date after 3yrs no payments of any sought.
Well yes, that’s what happens when a Ponzi scheme collapses.