Beware! Avizgroup.world is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Avizgroup.world is another worthy contribution to our list of insolent scam brokers. We have zero doubt that this is a fraudulent, shady company that is only after your money – we have more than enough proof of that. Read the full review below if you want to learn more about this broker’s dubious activities.
Avizgroup.world REGULATION AND SAFETY OF FUNDS
Avizgroup.world is a St. Vincent and the Grenadines broker – which means that they simply could not be regulated. The financial authority of this country does not license forex brokers and does not monitor their activities. There are also no particular laws related to forex trading. This means such brokers are not obligated to meet any sort of requirements and are not restricted to conducting business in absolutely any manner they see fit. Money transferred to such locations also becomes untraceable because there are no transaction reporting requirements – this makes all sorts of illegal activities like tax evasion, money laundering, and fraud a whole lot easier. Not all brokers registered in St. Vincent and the Grenadines are scammers – but a big portion of them are which is why hearing the name of this country should be somewhat of a red flag.
This is not the only red flag when it comes to Avizgroup.world though – the Central Bank of Russia has recently issued a warning stating that this broker is most probably a dangerous scam.
All the signs here point to scam – investing with this broker is a huge risk.
Working with a broker licensed in the UK, the EU, and Australia is a much safer affair because it provides access to countless protections and means that you can rely on a certain degree of safety and transparency. Such brokers maintain a high standard of service and are obligated to follow many laws and procedures. For example, all such brokers have to maintain a minimum capital of €730 000 in the UK and the EU, and A$1 million in Australia – this is done because brokers should prove that they are financially stable and would be able to survive in volatile market conditions. Client funds are always kept separate from the broker’s own – this is done to ensure that client money and broker money cannot mix and that if the broker goes bankrupt your money would still be safe in a separate account. Negative balance protection is provided – this basically means that the losses you can suffer as a retail trader can never exceed the amount of capital you have in your account.
Avizgroup.world TRADING SOFTWARE
Avizgroup.world offered us to “download MetaTrader” from the website – the broker did not specify if we could trade on MetaTrader 4 or on MetaTrader 5. Whatever the case, that did not matter since we were not actually provided with access to either of these platforms – the download link on the website did not function. We were also not able to open an account – the broker would simply not allow us to do so. This might either mean that their website just malfunctioned, or that the broker simply prefers to choose victims itself. This is a tactic often employed by scam brokers – this way, scams like this one can be kept under wraps for a longer period of time and the broker can avoid any unwanted attention and suspicions.
Here are some brokers who actually offer MT4 and MT5. Both of these platforms are highly functional and offer a huge array of tools and features – Expert Advisors that track markets and trade automatically, VPSs, a Strategy Tester, the chance to set signals or subscribe to those set by successful traders, a full charting and analysis package, and much more.
Avizgroup.world TRADING CONDITIONS
Without an account, we cannot say if the trading conditions Avizgroup.world described on the website are anywhere close to what we would get if we decided to start trading with them. Such scammers are usually not the most reliable source of information.
The broker mentioned that you would have to be willing to invest at least $250 if you wanted to open an account. This might not sound like too much money but it is actually more of an upper limit considering the sums most brokers would ask for these days. Plenty of brokers would be willing to open an account for $100 or less.
On that most basic account type, the broker offers leverage of 1:10 – which is actually quite low, even lower than the leverage restrictions that exist in strict jurisdictions like the UK, the EU, and Australia. Brokers in these countries are not allowed to offer anything higher than 1:30 on forex majors to retail clients. However, leverage with Avizgroup.world could potentially go much higher – up to 1:100. And although offshore brokers are free to offer any leverage they see fit, you should always remember to be careful with your leverage settings – trading with rates higher than you can handle can lead to enormous losses. Here are some brokers who could legally offer 1:100.
Avizgroup.world DEPOSIT/WITHDRAWAL METHODS AND FEES
Since we were not able to open an account, we can also not say with certainty which deposit methods would be available. We saw the logos of well-known payment solution providers like Visa, MasterCard, and PayPal on the broker’s website – but with scammers, you can never be sure if this is not just some sort of ploy. The broker might as well try to convince you that it is offering reliable payment options – the truth could be completely different.
Avizgroup.world seems to offer bonuses – with some strings attached.
If your account has been credited with a bonus, you would have to reach a turnover of 25 times the bonus plus your initial deposit in order to withdraw any sort of funds from your account – including, it seems, all profits and deposits. No legitimate broker would ever try to deny you access to your own money – which is exactly what Avizgroup.world will try to do. Do not be surprised if you see this trading volume requirement change drastically and become higher – scammers often try to slow down withdrawals as much as possible so they could still as much money as they can from you.
HOW DOES THE SCAM WORK?
Such scams are more common than you think and trick thousands of people into investing with fraudulent brokers who exist with the sole purpose to rob you. The best thing you can do to avoid them is check registers, research matters carefully, and have a general idea about how scam brokers operate.
Such brokers usually promise immense, fast profits – slow, gradual, and informed rarely seems to be the way for them. You take one look at a broker’s website and decide that it looks decent and legitimate and that all the promises and claims must be true. Such scammers often try to convince you that they are legitimate in various ways – they lie about being regulated, provide fake legal documents, and divert your attention with unbelievable offers. You decide to try your luck and open an account – providing the scammers with your phone number and email in the process.
After that you would not be left alone before you make a deposit – you receive dozens of calls and emails from smooth-talking scammers whose very job is to prey on unsuspecting people who are trying to turn a quick profit. And once you have deposited, they will keep asking you for more and more money – which you would gladly invest because, at that point, you might even be turning a decent profit. However, when you try to withdraw your profits, you will quickly see that you have been fooled. Different reasons why withdrawing is impossible will appear – additional taxes, minimum withdrawal limits, and previously unmentioned clauses in the Terms and Conditions.
At some point, you understand you are being scammed – but by the time you reach this point, the scammers will already be long gone.
WHAT TO DO WHEN SCAMMED?
Unfortunately, the chances of you tracking down the scammers and retrieving your money are not good.
You can, however, avoid additional problems and losses of money by changing your banking details and passwords, and removing all software they have asked you to install – this just provides them with easy access to your computer and all of your passwords.
Don’t trust any recovery agents promising to retrieve your money for a fee – this is just another type of scam, often conducted by the same people who initially robbed you.
If you have used Visa or MasterCard to deposit, there is a chance that you might be able to get a chargeback – both card providers allow chargebacks within 540 days of the transaction. Reversing wire transfers and payments made in crypto, on the other hand, is impossible – only use these payment solutions with trusted brokers.
Finally, make sure to notify the responsible authorities and share your story with as many people as possible – this way, others will know how to avoid such scams and stay away from them.