AvasTradeFX (Avastradefx.com) is a Binary, CFDs, Crypto, and Forex scam broker ripping investors of their hard earned money. Avas Trade FX is a brokerage firm operated by a fishy company called Gembell Limited. AVASTRADEFX is purporting to offer users a chance to trade with the best platform. Complaints have been sent by investors who lost trading with this broker. And this is why we conducted this thorough AvasTrade FX Review.
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Complaints have been floating all over the wire regarding how this broker is scamming investors. Maxwell is an investor who lost over $7,000 in a day trading with this bogus broker. Why would a broker not stop a user from losing such a huge amount within a short period of time? This means the broker does not offer negative balance protection which is a letdown for any user. With a real broker, this loss would not have amounted to such high numbers.
What these scammers have done is create a visually compelling website. Scammers know how to attract investors with eye-catching sales line. AvasTradeFX is no different as they have adamantly used fake claims and promises to entice investors. This website is solely used to entice investors into depositing money, nothing else. Any investor who deposits money with this broker should not expect to withdraw it. This review will reveal dirty tactics used by scammers.
Gembell Limited is shown to be the company behind this platform. A company based in Marshall Islands should not be trusted with funds. This means AvasTradeFX is offshore based meaning breaking regulations and rules is easy. Who actually owns Gembell Limited or AvasTradeFX? This is a riddle for all parties involved.
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Why has this broker failed to mention people involved in running this platform? Looking at the social media platforms, there’s no details concerning anyone involved. What this means is we are dealing with an anonymous trading platform. For all we know, this platform is another pyramid scheme enriching the people involved. Why would a broker fail to give details regarding who is handling funds? This is surely a professional scam outfit running AvasTradeFX platform.
A licensing number TRSF RU 0395 AA Vv0116 is shown as Gembell’s registration number. What these scammers fail to count on was our investigative expert. A look at some of the prominent regulatory institutions tells a different story. None of the regulatory bodies contacted have given Avas Trade FX green light to conduct Forex business. This is another red flag with AvasTradeFX.
What we discovered is this broker is using fake details and registration number to conduct Forex business. A broker who conducts Forex transactions without proper documents or licensing is a fraud. Why would anyone in their right mind deposit funds with an unlicensed broker? This broker can steal funds and close shop without issuing notice. Signing up with an unlicensed broker and depositing funds is simply unethical. Stay away from this rogue broker.
Another disturbing feature we noticed with this broker is how well they have used fake testimonials. A look at some of the best traders in the last 24 hours tells it all. Alexander D is leading with over $12,000 wins. Problem with this statement is how they have hid his identity. No one can verify this claim as the person is a made-up character.
Top ranking traders section is led by Mohammed S; this is $665 30 minutes ago. Problem with this claim is how they have tried to sell his success. After visiting the website an hour, a day, and a week later, these results don’t change. This means we are dealing with a professional scam outfit. These scammers have created a website whose intention is to defraud anyone who deposits funds. Make sure to check some of these testimonials for clarification purposes.
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This broker has ensures funding options are available and working at all times. And there’s a good reason why this broker has made these channels available. They don’t want any investor to have excuses as to why they can’t deposit funds. Some of these channels include MasterCard, Neteller, Skrill and others. Problem starts when users want to withdraw funds.
Withdrawing funds with this broker is next to impossible. As Maxwell found out, he tried to withdraw his remaining $1,000. Contacting this broker turned futile as broker was nowhere to be reached. As it turns out, once you deposit funds with this broker, don’t expect to withdraw them. Make sure you don’t become their next victim. Stay away from any of their links or social platforms.
By now, its clear funds are not safe with an unlicensed and untrustworthy broker. Maxwell is a good example why AvasTradeFX is not properly securing funds as expected. Damning details reveal investors are depositing funds straight to owner’s personal bank account. Where does this broker bank money deposited by interested parties? This is surely a pyramid scheme enriching these scammers.
When it comes to segregation of accounts, this practice is not followed by this broker. This means AvasTradeFX is pooling funds in one account. A broker who does not segregate accounts risks running the entire business into the ground. In case of bankruptcy or insolvency, deposits will be lost. Another disturbing feature with this broker is lack of proper withdrawal channels. Stay clear from this platform.
AvasTradeFX claims to use a stable and user-friendly platform, is this true? Investors are complaining of how slow this platform works. Placing trades is slow and makes users lose funds. This is another valid reason not to sign up with this broker. Platform used in this platform is highly unstable and not fit for Forex trading. Make sure to stay away from this platform and ignore pleas to sign up.
Evidence clearly reveals we are dealing with a professional scam outfit trying to outwit investors. Thanks to this review, their scamming days are nearing an end. Make sure to ignore all their calls to sign up with their affiliate programs. Mark all their emails as Spam and never click on any links sent by their email marketing team.
Blacklisting this broker is the only way to ensure our readers are kept safe. Sign up with Forex brokers who have the pedigree to trade effectively and efficiently. This is one way of trading successfully with Forex trading.
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