Shamayal Associates offer several investment services, Forex signals, trading robots and managed accounts.
They say that you just have to sign up with Coinexx, deposit money and expect 7 – 12% monthly returns on your investments. Sounds too easy, doesn’t it?
Instead we will focus on things that anybody can verify and that do matter. The problem is that Shamayal is an illegal investment service.
Shamayal Associates supposedly are based in the United Kingdom, meanwhile they have an office in Australia too.
But no company of this name is registered in the UK nor Australia as an investment services provider. This means that Shamayal is operating illegally and that in case of problem you are not protected at all.
The same applies to Coinexx, which is the broker they require you to sign up with. It is an anonymous and unregulated broker, deposits with this broker are not protected at all.
So, you are supposed to send your money to people who are not respecting the law, because they provide investment services without the necessary authorization. And this always is a very bad idea, because they can run with your money any time and you won’t be able to do anything about that.
We’ve seen countless unregulated brokers disappear with all the money and since deposits are not insured with unauthorized companies, their clients couldn’t do anything.
It is dangerous to let Shamayal and Coinexx trade with your money, because they are not regulated. Stay away from them.
For trading, always use regulated brokers only.