AvaFinancials Review: Scam Broker Found?
Is avafinancials.com a legit broker? Is it advisable for one to trade with this broker? It would do you well to read this review before making your decision about trading with AvaFinancials broker.
Online businesses pop up everyday, legit and otherwise. Hence, scammers get a load of opportunities to choose victims. However, we have made it our duty to review websites, investments, etc. to help you detect them from miles away. This review covers all you need to know about avafinancials.com.
What to Know About AvaFinancials Brokers
Avafinancials.com claims to be the trading company of AvaFinancials Group Ltd. They state there that they are authorised and regulated by the Cyprus Securities and Exchange Commission – CySEC. According to this same website, they as a company, have been in operation since 2011.
Their website, however, seems to be below par by more than a few standards. It contains clustered text, broken images and links that lead nowhere. This really got our attention, and brings us to the next part.
AvaFinancials Brokers: Red Flags Detected
It would be a miracle for this avafinancials.com to get anyone to believe their story. Here are a bunch of red flags we found that made us reach this conclusion.
Conflicting Contact Info
Avafinancials.com claims to be registered and regulated by Cyprus Securities and Exchange Commission(CySEC) which would mean it is located in Cyprus. It also claims license by the Brittish Financial Conduct Authority (FCA), which links it to England. Then comes the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and the French Autorité de Contrôle Prudentiel et de Résolution(ACPR).
As if all of this isn’t already confusing enough, the contact phone number on the website has the American country code (+1). Unless this company is located in 5 countries simultaneously, this is a huge red flag!
Website Irregularities
For a company that claims to have been around since 2011, you’d think they would have hired a good web developing team. However, the AvaFinancials brokers website is what you would call, “Less than professional”. It has poor user experience with broken images, false links and what have you.
Even worse is the fact that you cannot create a trading account on the website. You fill a registration form and you are asked to verify your account. But that’s the farthest you can go with the pseudo-registration. If you can’t create an account on a broker’s website, we can’t help but wonder what else it is for.
False Licensing/CySEC Warning
AvaFinancials broker claims to be registered by a few highly reputable regulatory bodies. Some of them being CySEC, FCA, BaFin and ACPR. While being non-existent in any of these bodies’ registeries, we found something more interesting about avafinancials.com.
CySEC recently released a list of 8 brokers as seen in the photo, who claim to be regulated by them. CySEC warns investors against these frauds and urge people to steer clear.
Avafinancials.com Review: Is AvaFinancials a Scam Broker?
Sadly, yes. This broker is unlicensed and has been called out by one of the top forex regulatory bodies. We advise you to run from them.
We recommend you trade with a licensed broker with explicitly stated terms and conditions of trade.
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