Avax Markets entices customers with promises of multiplying their profits and unlocking their trading potential. However, as experience has shown, such promises often have nothing to do with reality. Today, we’ll take a closer look at Avax Markets and read reviews about it to determine whether it’s a scam or a legitimate and reliable broker.
Brief Overview
- š„Official Website: https://www.avaxmarkets.com/
- āļøContact Address: no
- šCustomer Support: contact form
- šLicensing and Accreditation: no
- ā³Track Record: since 2023
- š§°Specialization: trading
- š¤Terms of Cooperation: not indicated
- š°Additional Services: no
Avaxmarkets.com Examination
All pages on the website load without any problems. However, the main question about the broker’s domain is that it was recently created. According to information from Whois, the portal has only existed since 2023, which means that there was no project before that. Another cause for concern is the fact that you do not have to confirm your profile by email to create a demo or real account there. This raises security concerns.
In addition to it, the website also exhibits inconsistencies in the information presented about available assets. The homepage advertises the ability to trade indices, while the instruments section lists NFTs among tradable assets. These inconsistencies create confusion and uncertainty for potential clients, making it difficult to determine which information is accurate and reliable.
Company Contacts
It is unclear how to contact Avax Markets representatives. The broker does not provide an office address or any contact information. We don’t even know if the company has an office and in which country it is located. On the website, we only found a feedback form, but it is unknown how quickly the company responds to requests sent through it. It is strange for a broker to expect to gain the trust of clients without providing any way for them to contact management.
While this organization advertises 24/7 access to a personal account manager for each user, the website lacks a clear and direct communication channel for clients to reach their assigned manager or company leadership. Reliance solely on a feedback form for communication raises concerns about the timeliness and effectiveness of customer support.
The absence of direct communication channels could hinder prompt resolution of issues and discourage clients from seeking assistance.
Key Conditions
Avax Markets offers trading in a variety of assets, including currencies, futures, stocks, cryptocurrencies, NFTs, indices, and commodities. However, the company’s website provides limited information about specific trading conditions, which can be a significant deterrent for potential clients.
The website does not disclose details about margin requirements, minimum deposit amounts, or spreads for various instruments. This lack of transparency raises concerns about the broker’s potential to engage in unfair or misleading practices. Potential clients may perceive the absence of clear trading conditions as an indication that the broker is willing to negotiate unfavorable terms with individual traders, potentially to their disadvantage.
Avax Markets offers its own WebTrader platform, available for desktop and mobile devices. While proprietary platforms can offer certain advantages, the lack of a more widely recognized and established platform may raise concerns among traders. The absence of a well-known platform could lead to doubts about the reliability and stability of infrastructure. Moreover, the use of a proprietary platform could raise suspicions about the potential for the broker to manipulate market data or prices in its favor.
Exposing Avax Markets
It’s impossible to call the project stable and reliable. First of all, the company doesn’t have a brokerage license. This document is required by law for all such organizations. If the firm’s activities aren’t regulated by the FCA or a similar body, you won’t be able to get your money back legally.
Secondly, the brokerage firm isn’t even registered anywhere. Reliable brokers provide their legal entity in their documents or contact details, but this firm doesn’t mention anything like that. This further indicates that it’s a fly-by-night company.
As we mentioned, the organization has a short operating history: it started working at the end of 2023. There’s no evidence or documents confirming that the project was operational before that. This suggests that the project has nothing to lose: it can run away with its clients’ money at any time.
Finally, it’s alarming that Avax Markets directly states that it disclaims responsibility for client losses. They justify this by claiming that CFDs are a high-risk instrument. However, in case of legal issues, the firm can easily refer to this clause and refuse to pay money.
What Reviews Do Users Leave?
There is absolutely no online feedback on the project. This once again proves that we are dealing with a scammer. If we were dealing with a reliable broker, it would be possible to find some feedback from traders online.
Conclusions
We do not recommend anyone to deal with Avax Markets. The company has no license, registration, track record, or reputation. Therefore, there is absolutely no guarantee that you will not be cheated.
Pros/Cons
- A wide range of assets.
- No registration or license.
- No reviews.
- Lack of information about the management.
- Consumers donāt know email or phone numbers.
- No information on minimum deposit, leverage, or other terms.
We should punish all these scammers.