Galionex Review: Another Scary MLM Scam

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Galionex Review: Another Scary MLM Scam

Galionex is a crypto investment scam claiming to offer several services, including liquidity. Our review explores the red flags seen on this platform.

Stay away, that’s our recommendation as we move to expose this broker. The platform is not anywhere near a genuine crypto investment option. We will highlight the red flags that make Galionex a scam.

Galionex is a scam, stay away

There are several reasons why we have to flag this platform, and the top of them is the lack of withdrawal. The platform is far from transparent when it comes to withdrawing funds. No member has managed to withdraw funds for the past few weeks.

And this is one of the many reasons why we have to stay away from the platform. It’s a sham and will likely defraud everyone involved, including the affiliates who unknowingly redirect victims to the platform.

Continue reading our gallant Galionex review for more.

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About Galionex

On the company page, the platform claims to be a multi-currency platform for exchange and yield optimization.

Galionex claims to allow users to earn a compound interest in their crypto assets. Thanks to their ‘crypto-arbitrage’ experience, the platform guarantees consistent daily profit margins to investors.

Other services offered include investment packages from expert advisors available for a free. We don’t recommend anyone signing up with this platform. The people behind it don’t have any experience giving financial advice, please stay away.

Lack of information on who owns and runs the platform is another red flag for us. Why would the platform fail to give investors the truth about who’s behind the platform. Anonymity has been a huge factor when it comes to crypto investment scams.

Avoid anonymous investment platforms especially in the crypto sector. A transparent exchange will have a valid license from a reputable regulator. We don’t even have a valid license or area of operation for Galionex.

That shows everything listed on the platform is a hoax. Plus, the phone number listed suggests the exchange is from the South Asia region. Even after calling the number, no one picked our numerous calls.

Landing on the website, you will notice the homepage fails to give information on the P2P or trade services available. The platform deceives investors into thinking they can get the best out of online trading.

A legit crypto exchange platform will give investors details on and what instruments are available. Does the exchange cover P2P exchange or support different coins and major currencies?

Accounts and plans Galionex

Please understand that Galionex does not have any retail products or services in the crypto space. All these are false details that investors need to avoid. You need to stay away from such investments as they often end up defrauding members.

There are four regular plans available on Galionex. Let’s take a closer look at each of these plans and what they have to offer;

Plan 1

With an initial investment of $50 to a maximum of $499, the platform claims to offer a guaranteed profit margin of 0.7 percent to 1.2 percent daily for a period of 15 consecutive days. That’s around 3 percent overall profit.

Plan 2

The second plan also guarantees daily profit margin. With an initial investment of $500 to a maximum of $4,999, investors are set to receive 1.1 percent to 1.6 percent daily for 20 running days.

Plan 3

A minimum investment of $5,000 to a maximum of $14,999 is the plan’s accepted depository amount. The plan promises investors ROI of 1.5 percent to 2.1 percent for 35 consecutive days. Please note the platform fails to give withdrawal options for these plans.

Plan 4

It’s the last plan with investors having to deposit a minimum of $15,000 to a maximum of $50,000. Investors are set to receive 1.8 percent to a maximum of 2.5 percent for 50 consecutive days.

Other plans available on the platform include compound and leveraged plans. Both of these plans guarantee profit margins for over 70 days to a maximum of a year. The investment amounts range from $1,000 to a maximum of half a million dollars.

Affiliate commissions

Affiliates are set to earn commissions for ever referral that invests in the platform. These affiliates commissions come in form of levels or ranks. The first sign up as an affiliate will earn a commission of $50.

If you maintain this momentum, the platform guarantees commissions worth $100,000. And this is not a guarantee as the platform would have you think. In fact, no affiliate has yet to even hit level 5.

Why you should stay away from

Most of the funds offered come from deposits made by victims. We don’t recommend signing up with this platform for several reasons. Those who you direct will blame you for their misfortune once the platform goes under.

As a professional affiliate, you will lose all your credibility as the victims will be calling out for your blood. Its best you keep your reputation intact by having a reliable and more convenient affiliate approach with reputable investment firms.

Contact and support

Heading over to the contact page, one thing’s clear, the platform doesn’t want to interact with investors. There’s no direct phone contact one can use to contact support for help or any other form of direction.

Despite having a live chat widget, it’s sad that the platform uses a bot. It’s not a real person and thus, can’t help investors with any information regarding contact. The owner plans to keep victims away.

Before investing in any platform, you also need to test the communication aspect. How does the platform plan to communicate with members? If there’s no direct communication such as live chat agent, stay away.

Fund safety Galionex

Your funds are far from safe with this platform. You need to stay away from a platform failing to offer insurance cover for deposits made. The platform fails to deposit the required depository amount with regulators to cover insurance.

What happens when the platform decides to shut down and investors have funds still available on the member account dashboard? That’s where we draw the line with this platform as it fails to offer insurance cover.

In case such a scenario happens, everyone will lose funds and will likely not get even a cent back. The website also fails to employ strong security protocols to protect investors from third party attacks.

There’s no DDoS protection or SSL encryption on this platform.

License and Registration Galionex

Galionex is not a licensed or registered crypto exchange or investment platform. There’s no oversight from regulators meaning the platform is free to input unfair trading conditions. What the platform has uploaded as their company registration certificate is a fraud.

We have seen the extent the platform goes to try and deceive investors that we are dealing with a real company.

What to do when scammed by Galionex

For those who have lost funds with Galionex, the best thing to do is contact a recovery agent. These agents work with law enforcement to ensure you get back funds.

Verdict Galionex

Galionex is a scam, please stay away.

Note: Make sure to use dependable crypto investment ventures

Do leave a comment or email us with any queries.

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