On 7 October 2024, the Autorité des Marchés Financiers (AMF) added the www.livaxxen.com trading platform to its Forex blacklist. Despite this entry, the AMF continues to receive a large number of reports and complaints from retail investors about this fraudulent investment offering.
Bạn đang xem: The AMF warns the public about the fraudulent Forex investment offering on the LIVAXXEN trading platform
LIVAXXEN presents itself as a platform allowing investors to browse a diversified range of global markets, including currencies, indices and commodities, with the possibility of 400:1 leverage.
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The AMF recalls that only companies that are authorised as investment services providers in the European Union are permitted to offer brokerage services, such as Forex or index trading.
The AMF also points out that leverage, by enabling investors to take a larger position than the amount they are prepared to invest, not only amplifies potential gains, but also losses in the event of an unfavourable market trend. Consequently, investors can lose more than their initial investment if prices move against them. In Europe, leverage has been voluntarily capped to protect retail investors against the risk of excessive losses.
The LIVAXXEN trading platform does not presently have any authorisation whatsoever permitting it to offer investment services in Europe. It has been on the Forex blacklist since 7 October 2024.
Despite this, the regulator continues to receive a very large number of complaints from retail investors. The latter claim to be on the receiving end of aggressive direct marketing from pseudo-sales representatives followed by constant reminders from alleged traders to keep investing more and more. When they want to withdraw their supposed earnings, LIVAXXEN demands they pay fees of several thousand euros.
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The average loss reported to the AMF is €25,000.
The AMF is taking action to put an end to the activities of this company, which is not authorised to operate in France, and is calling on retail investors not to respond to invitations from this trading platform or to pass on its investment offer.
As a general rule, the AMF reminds the public to apply the rules of vigilance before making any investment:
About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets.Visit our website
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