AvexCapital review – 5 things you should know about avexcapital.com

AvexCapital review – 5 things you should know about avexcapital.com

Rating: 1

Beware! AvexCapital is an offshore broker! Your investment may be at risk.

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AvexCapital possess an allure that can easily be mistaken for a representation of something that in reality is just another shady brokerage firm that focuses on profiting from schemes. Read the review for more details.

As always, we have to register to give you all the trading information directly from the trading platform and user area. After a simple registration process, we were presented with a web trader that served as a main dashboard page. The EUR/USD spread was 0.4 pips, and the leverage is capped at 1:500. The cost of trade is great, while the value of the leverage is that of a typical offshore broker.
The trading instruments that users can use are forex pairs, commodities, cryptocurrencies, ETFs, indices, and shares.

The following list of languages is available at Avex: English, Russian, Spanish, German, French, Italia, and Japanese.

AVEXCAPITAL REGULATION AND SAFETY OF FUNDS

Some of the most ridiculous regulatory claims for a broker in a while, AvexCapital has. And we had hopes for this broker…

Let’s explore these claims. The alleged registration in Seychelles may or not be true. We checked with the local FX regulator, the Seychelles Financial Service Authority, for the broker, and found no results. Next, the ludicrous claim of a CySEC regulation was busted the moment the registry found no results of AVEX Capital.
Next on our list is the International Financial Service Commission in Belize, where, surprise surprise, there was no mention of Avex.
And last but not least, the Financial Commission of the Republic of Mauritius, which bore no result of an AVEX Capital.
So, the broker is not regulated in any of the locations it claims to be!

Nothing goes so far as these. The User Agreement is void of licensing details, while the website is so incredibly simple and lackluster, that it literally contains just 3 subpages, including the Home page. None of these sections hare enriched with licensing details.

So, without further adieu, we have to stamp an UNREGULATED label on AvexCapital. All such brokerages are a risk to any investment, no matter how big or small!

Traders should be trading with risk-free brokers, that hold licensed from renowned and austere agencies, like the FCA or CySec , which have made a name for themselves as some of the top regulators. Readers should be aware that both agencies have adapted very strict rules of conduct, and their licensing framework guarantees safety and security for all clientele. A good example of this is the segregation of accounts which assures that client money and broker money are kept in separate accounts. Furthermore, FCA/CySEC brokers participate in a financial reimbursement scheme that cover traders losses in case the broker becomes insolvent. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.

AVEXCAPITAL DEPOSIT/WITHDRAW METHODS AND FEES

Unfortunately, the only way to deposit is through a bitcoin blockchain. And it does not seem like the broker will ever fill your account with transferred money. Users are given a BTC address and are asked to deposit there. We assume that once the BTC transaction is done, the user will never see her money back.
Seeing this, there is no real minimum deposit.

Withdrawals are paid within 7 days from the confirmation of the broker that is has accepted the application for withdrawing. However, how long this application takes to process has not been said. The only way to withdrawal is again through Bitcoin, as per the user area.

The Refund Policy is clear on one thing: that there are withdrawal fees. Furthermore, withdrawals can be made thirty days after the initial deposit was made via credit card, and not earlier. If the deposit was made via some e-payment methods, then clients will have to wait 20 days and only then submit a withdrawal request.

But, how does this clause apply to withdrawals, seeing that they are only completed through BTC, is left unsaid. This type of confusion is very typical for scammer brokers. Just another reason why you should not trust AvexCapital.

How does the scam work?

Users will be in the middle of a scam without even knowing it, that’s how efficient these scams are. Yet, clients will also be surprised that the most utilized scammer structure is laughably easy to grasp, making it predictable. We have dedicated the following section to the reveal of how the scam works.

The internet is filled with ads, it’s the fuel of the industry, and a big chunk of said advertisements are misleading and some are downright deceitful. The ads concerned with unregulated forex brokers are often very promising, and most of the times utilize completely false claims of immediate profit. Those tempted enough will be redirected to a robo-scam website that further guarantees profits. The only thing that separates the user from the unrealistic promises is a fast registration process that requires a phone number and an email address. After inputting this info unsuspecting users will start getting phone calls from illicit broker representatives, whose one and only job is to initialize the scheme by pushing a trader to make that first deposit of around $250. After that’s done, the senior representatives will be calling. These expert scammers are extremely good talkers, and will start working on you to start putting even more money in. They say that the more money invested, the higher the profit will be. At this point most traders start seeing the big picture, and will want to withdrawal their money and get out fast.

However, the scammers have anticipated this development, and are ready to counter any withdrawal request. Typically they find excuses for delaying the request in the legal documents that hold specific clauses for these purposes. The reasons are many. One thing to remember is that all illicit brokerage firms will deny the withdrawal request for as long as they can, because of the imposed time limit traders have for filling a chargeback. Once the crucial due date is not met, any chargeback requests will be denied.

What to do if scammed?

Those of you who deposited using VISA and MasterCard will be glad to know that both companies have extended their chargeback time span to 540 days, especially if the reason for it is an online scam.

Scammers will steal directly from a bank account, if the traders has provided crucial details, like banking password or security code. If it get down to this, be sure to either block the account or change the password.

Sometime victimized users will stumble upon the so called recovery agents that promises to magically reclaim all lost investments, for a fee that is. Needless to say, they will not get back any of the lost funds, and will basically scam you a second time.

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