AvivaARB review – 5 things you should know about aviva-arb.com

AvivaARB review – 5 things you should know about aviva-arb.com

Rating: 1

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

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In this review, we are going to scrutinise a Forex broker that’s likely deploying a well-known and pretty popular fraud strategy. It’s already been flagged as a potential scam by users and companies, and we’ll inspect the broker to see if such claims are actually reliable. Otherwise, AvivaARB is introduced as a high-leverage customer-oriented business, providing customized solutions, fair pricing, and endless possibilities. At the same, they claim to be Cyprus and UK licensed broker, which strongly indicates that there is something wrong ahead. Find out the real truth about this broker in the full AvivaARB review.

AvivaARB REGULATION AND SAFETY OF FUNDS

According to the T&Cs, AvivaARB originates in St. Vincent and the Grenadines, a shady tax haven poorly regulating its financial market. The local authority SVGFSA does not even license or in any possible way control the brokers operating there, which makes the entities unsafe and potentially dangerous. The island is overcrowded with scammers, and that’s only because of the transparency and regulation deficit.

However, we encountered much more severe issues, and those undoubtedly confirm AvivaARB is a scam. First of all, the broker claims to be FSA regulated in Britain, but that’s laughable. The financial authority licensing the brokers in the UK is the Financial Conduct Authority. FSA is a fictitious regulator, so AvivaARB knowingly tries to lead people astray and defraud them. Also, the UK insurance company Aviva issued a list with domains wrongfully using its name and pretending to be part of the group. The list includes AvivaARB, so your funds will be in danger if you deposit because the broker a clone firm and a scam. We take the genuine company’s word for it, given the fraudulent claims we saw. You should stay away from this crooked business.

Instead, consider the EU brokers and British brokers topping both lists provided. The European markets offer high-grade security, with companies covered by deposit insurance funds inaugurated to protect clients’ money. Hence, CySEC brokers’ traders can claim up to 20 000 EUR in compensation, while the British guarantees are up to 85 000 GBP per person. If you are eligible to open an account with a European company, you can safely go for it.

AvivaARB TRADING SOFTWARE

AvivaARB’s provides with Frankenstein-ish web-based trading software consisting of a third-party provided chart and a particularly unreliable trading panel. This so-called platform is out of MetaTrader’s league, and we can reasonably suspect price manipulation may occur. Trading software developed by shady brokers themselves is reasonably suspected to be prone to fraud, so you’d better not waste your time with entities like AvivaARB.

That said, the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists are safe, delivering upper-class software and a much better trading environment. The MT distributions are packed with sophisticated tools such as Expert Advisors, many complex indicators, sophisticated charting tools and even a marketplace featuring more than 10 000 apps. MT is definitely the best choice for traders.

The EUR/USD spread delivered by the platform is too wide- 3.7 pips which is an unfavourable Buy/Sell difference. As spreads form part of the trading costs, traders should look for tight-spread brokers. Fortunately, the FX market is bustling with regulated companies providing 1 pip and below, so it’s not challenging to find better opportunities.

The leverage level is fixed at 1:100, and traders can’t adjust it to their preferences. Well, this level is no longer allowed in Cyprus and the UK, so we have yet another proof that this broker is illegal. Moreover, as leverage can’t be changed and risks reduced, AvivaARB intentionally drives traders into a hazardous environment, aiming to induce losses among them. AvivaARB is a scam!

In fact, leverage is dangerous, and many financial authorities even imposed a cap, forcefully restricting its usage. As a result, EU, British and Australian brokers‘ clients are limited to 1:30, while Canadian brokers and US brokers can’t provide more than 1:50. Most of the high-leverage ones are poorly regulated offshore businesses, so be cautious.

AvivaARB DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit is not specified, but the minimum withdrawal should be no less than $50, which is a requirement we consider unfair. Most licensed brokers do not impose restrictions, and traders can take out as little as they want, so there is yet another reason to avoid this broker. The funding methods are not explicitly defined, but in the T&Cs, AvivaARB indicates Wire Transfers, Credit/Debit card and e-wallets are accepted. However, any funding different than Wires will be subject to additional provisions the broker does not specify. That’s fishy.

While talking about funding, have a look at the top-rated Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have a preferred payment system. The companies on top of both lists are adequately regulated, and it won’t happen to face scammers.

There are no transaction fees in general, but if the client executes less than 5 trades within an unspecified timeframe, the broker will eat 5% of the withdrawal amount. The inactivity fees are largely the same. After 90 calendar days of inactivity, the account becomes dormant and will be subject to a 5% monthly deduction, but not less than $25. That’s a scam!

AvivaARB offers trading incentives, but the additional provisions are a load of pants. If the bonus is up to $1000, traders need to execute at least $10 000 000 in turnover to become eligible for withdrawal. So, the broker may refuse a $1000 bonus but give out $50 instead. Then, traders will still need to execute $10 000 000 and won’t be able to get any money unless they meet the requirement. Be cautious!

Overall, AvivaARB is an unregulated so-called broker and a clone firm, so you should steer clear of this fraudulent business as quickly as possible.

HOW DOES THE SCAM WORK

The Forex scam is a popular type of fraud that’s rather distinctive because it’s actually a process. In the usual scenario, the victim clicked on an ad, then received a phone call, and at some point got convinced to deposit money. To make people accept fraudulent offers, scammers would present deals that sound too good to be true, bonuses, get-rich-quick schemes, and so on. Their imagination is rich, and they would invent as many stories as possible to get the deposits wanted.

Unfortunately, the initial deposit is not the end but the beginning. Gradually, scammers would manipulate victims and would urge them to invest again and again. For example, the con artists would not allow people to trade but would pretend to manage the account instead of the traders. They’d then falsify the results to show victims massive profits and would ask for more money, promising to get even more profits.

However, if the victim asks for a withdrawal, that won’t happen. Scammers would come up with a story that the unfortunate trader needs to deposit again if they’re going to pull money out. Those criminals won’t stop asking for more, no matter what.
In the worst case, the victim would believe in the scammers’ falsehood and deposit repeatedly. Sooner or later, though, the scam would become evident, and that would be a signal for the fraudsters to cut the communication and disappear. They would abandon the website and would create a new one, carrying on with their criminal activities.

WHAT TO DO WHEN SCAMMED

Unfortunately, no one is immune to scam. If this unfortunately happens, the first thing to do is to protect yourself from further risk. Contact your bank and explain what happened to you so that they can give you instructions and help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!

Remember, it’s crucial not to rush blindly trying to recover your funds because many scam chargeback agencies and individuals are trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!

Share online your experience; it’s important to protect others, as well. Be responsible!

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4 Comments

  1. Aviva Arb made me believe that they were members of the Aviva group and I invested money with them. They seemed very professional and helpful.After pointing out that I had discovered their trick and had asked for the return of the funds I had sent, it was no longer possible for me to speak to my contact, a certain Ivan Maier (an alias that hides the true identity), and they did not respond to my various reimbursement reminders. They are linked to Cryptoarb, Kyafx limited, Decfin and most probably to a larger network of unlicensed brokers.

  2. Normenvolk(on telegram)

    I lost confidence in this company around last Christmas Ever since i have tried to get my balance payed out. No luck so far.
    Have sendt 10+ emails and had 20+ talks with people from Aviva group.. but no help what so ever.

    They just want your money .. and wiil apparently not pay any back. Luckily for me I got total reimbursement with support from (my profile name). It was not easy but it was possible.

    So my advice … stay away fromAviva.

  3. ΧΑΙΤΑ ΧΡΥΣΑΝΘΗ

    I lost my money and now I am literally hungry. Now they took me and showed me the money on the blockchain. They ask for 3 percent to get them right away. What to do?
    ————————-
    Έχασα τα λεφτά μου κ τώρα πεινάω στην κυριολεξία. Τώρα με πήραν κ μου έδειξαν τα λεφτά στην blockchain. Ζητάνε 3 τα εκατό για να τα πάρω άμεσα. Τι να κάνω?

  4. We were hooked in last October, James Alterman contacted us, said they’d been taken over by AVIVA, foolishly believed them. Then moved over to Mikael Spencer, set up a deal for monthly income. No money received, then unable to contact them. Then received 2 emails from AVIVA-ARB, first one said Mike had been killed in a car crash, 2nd that he was not dead but in a coma. All of his accounts would be closed (200+). Pay fee then monies would be returned. NOTHING, ALL MONEY LOST.

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