Avex Capital Review: Avoid AvexCapital.Com at Any Cost
The Avex Capital website domain is currently for sale. We are writing about them not only because we thoroughly investigated them while they were active, but also to show you the signals that are characteristic of all scam brokers.
After reading this article, you will be able to approach the search for a brokerage house with more knowledge. What we discovered about Avex Capital company is that it has run many scams while it was active, but there is also a risk that it will appear on a new website under a new name.
If you want to learn more about this fraudulent scheme, read our Avex Capital review to the end.
|Address||F30-f32 Eden Plaza, Eden Island, Mahe, Seychelles|
Avex Capital Financial Regulation and Safety
While the website was active, Avex Capital claimed to be regulated by one of the strongest regulatory bodies, CySEC. The claim was crazy, but we certainly checked the registers, and we did not find the company among those registered. In fact, CySEC has issued a warning against this illicit broker.
We also checked claims that Avex Capital was registered in Seychelles, but it was not found with the FX regulator, the Seychelles Financial Services Authority. We then looked for Avex Capital’s registration with the International Service Commission Belize, where we also did not find the company registered.
Finally, we checked whether the company is registered with the Financial Commission of the Republic of Mauritius, but when we searched the registers it turned out that Avex Capital is not regulated there either.
It turns out that Avex Capital is not registered anywhere it claims to be. In addition, the user agreement lacks license details, and the website itself was too simple for the content it was supposed to have. The existence of such fraudsters is a risk for everyone because you don’t know who will contact you by mail or whose words will come out to you while you are searching for an authorized broker.
Overview of Avex Capital Trading Platform
Avex Capital’s website boasted about its online trading platform, but it was a simple web trader with some basic functions. Web-based platforms such as this one are far from industry standards like MetaTrader4 or MetaTrader5.
Regardless of what kind of platform a fraudulent broker offers, there is a strong possibility that they will manipulate it to make it look like users are actually trading something. In addition, you will definitely lose your money with fraudsters, so the platform through which you will lose it is not a decisive factor.
Payment and Funding Methods
The only deposit methods that Avex Capital allowed were in the form of cryptocurrencies. Once the transaction was made, users never saw their money again, as crypto transactions are irreversible.
On top of this, the minimum deposit for opening a basic account was 500 dollars, this is an excessive amount when we compare it to the regulated market, not to mention that it is wasted money. In addition, there were also withdrawal fees, and processing of requests was said to take 7 days.
How Does Fraud Work?
Avex Capital, but also most scam brokers, conducted the scam in the same way. The main point of the scam is to demand payment in cryptocurrencies, in this case, a BTC transaction.
The broker cheated clients by giving them an account to which they should pay money so that the money did not even go to the trading account, but to the fraudster’s account.
Since crypto transactions are non-refundable, and it is not even possible to prove ownership of the e-wallet, nothing could stop the fraudulent broker from extracting money from users in this way.
At the same time, users had no one to complain to or report the scammer, because it is not regulated by any of the regulatory bodies listed on the website. That is how Avex Capital successfully implemented its fraud.
Avex Capital Summary
Avex Capital is clearly a failed fraud. But since the people behind it usually can’t and don’t know how to do anything else, there is a possibility that this broker will reappear on a new domain, with a new or similar name.
So be careful where you invest your money. In the world of the forex market, you cannot invest based on trust, you need solid evidence that the brokerage is what it is advertised to be, and you should not settle for less than that.
FAQs About Avex Capital Broker
Is Avex Capital a Good Broker for Beginners?
Avex Capital is a scam broker, as we have pointed out in this article.
What Funding Methods Does Avex Capital Accept?
The broker listed multiple deposit methods, but the only method that was really possible was through a BTC transaction.
Does Avex Capital Charge Any Deposit or Withdrawal Fees?
Avex Capital charged withdrawal fees but did not provide information on specific rates.