With the popularity of cryptocurrencies skyrocketing in recent years, fraudsters of all kinds are swooping down like vultures on inexperienced traders, trying to steal their way to wealth. We have come across yet another of these fake investment firms that have nothing to offer but hollow promises of grandeur.
See the remainder of our Avas Union review to learn how to recognise a scam when you see it, and get information on methods for fund recovery.
| Regulated by: | Unregulated Investment Firm |
| Is This Company Safe? | No, never trust your money to any unlicensed company! |
| Known Websites: | avasunion.com |
| Have Warnings from: | FINMA, CONSOB, AFM, FI, IOSCO |
| Registered in: | Switzerland (alleged) |
| Operating since: | January 2023 |
| Trading Platforms: | N/A |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $100 |
| Deposit Bonus: | Not available |
| Trading Assets: | None |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Withdrawing from online frauds is impossible without professional help. Contact our legal experts to find out more about recovery options. |
Public Warnings
The suspicious firm, supposedly established in Switzerland, is blacklisted by the jurisdictional regulator there – FINMA. This warning was later reposted by other reputable regulators that have detected the illicit activities of this firm in their jurisdictions as well. Financial watchdogs that have marked this company as illegal are CONSOB, AFM, FI, and the independent IOSCO.
Now that it has become apparent that this investment scheme is a fraudulent project, please be aware that they do not operate under legal supervision. Due to the absence of regulatory standards, you cannot expect proper fund protection and access to the financial ombudsman for compensation. Another shady service provider of a similar kind that you should avoid is Quickmatrixfx.
Who Does This Fraud Target?
This particular company says that they’ve been in business since 2018, but the website wasn’t around until January 2023 as we can see on WhoIs. These falsehoods are common with other faux firms like MALDO FX for instance.
The victims of this fraud mostly come from these countries:
- South Africa
- Italy
- India
- Kyrgyzstan
These sorts of illicit businesses rely on boiler room agents and client referrals to get new people to join. Mostly, company agents solicit the services by phone, claiming to be experts with insider knowledge about finance.
Everything these company agents say is a complete fabrication, intended to entice a victim into depositing. The money goes straight to the hands of the swindlers, however, and getting it out becomes impossible without professional help.
Investors Unaware Of Costs
The Avas Union scam markets their services in a way that you’d never think about how much they cost, what the occurring fees are and what trading conditions stand. All of the services and features are skillfully presented to deceive you into believing they’re lucrative, while the real costs are hidden.
Since all of the legal papers are missing, these crucial aspects and characteristics of a trading environment are completely concealed.
Referral Campaign
Without providing much detail, this unscrupulous business still invites existing customers to share their referral links and promote the company.
According to the number of newly joined victims per referral, you are promised to get a certain income. This commission is currently advertised to be 10%, but without the specifics related to its withdrawal.
Provided Trading Features
If you don’t count a couple of pictures and aggressive advertisements, there really is no information about trading features with this company.
The con artists use weasel words and pseudo financial terminology to make it seem like they’re the real deal. Anything that exists on the website is only there to make the victim feel like they have some control over the situation, but the reality is much different.
Widgets Don’t Equal Trading Software
One of the deceptive techniques that this platform uses are imported charts from the TradingView. Although these pretty accurately present the price movement and allow market tracking, they aren’t a stand-alone trading software.
In order to create an illusion of trading and investing being done, the swindler borrows these charts to show an activity. In reality, no Avas Union platform exists in any shape or form.
Trading Instruments Not Included
A proven, reputable and regulated company is always open about their investment strategies. You can expect a long list of different instruments, assets, financial plans etc., but not with this one.
On the site of this faux business you will only find encyclopedic descriptions and general information about cryptocurrencies, agriculture, cannabis, forex and real estate, but nothing in-depth.
There aren’t any financial instruments to speak of, and no clear outline on how the company manages to turn a profit.
Plans To Invest In
High daily profit without any effort is what every other newbie investor believes these sort of unscrupulous companies provide. However, that is just another illusion carefully set up by the con artists. If you take a look at these Avas Union accounts, you’ll quickly realize there’s no way that they’re real:
- STARTER PLAN – 2.2% daily profit for 10 days – $100
- PREMIUM PLAN – 2.6%daily profit for 10 days – $4,000
- EXECUTIVE PLAN – 3.2%daily profit for 10 days – $15,000
No Withdrawal Options
All payment methods include cryptocurrency transfers over different networks, but the swindlers don’t sell crypto themselves. You’ll have to purvey it through some other platform, so the avasunion.com contains numerous links that lead to various crypto exchanges, some of them as fake as Avas Union themselves.
Accessing the client dashboard, we’ve noticed that the Avas Union withdrawal function doesn’t work. Instead of getting a payout, you’ll be urged to make more deposits. Tracking crypto requires expertise, so get in touch with our legal professionals via the live chat.
Useless Support Center
After several attempts to get in touch with an Avas Union support agent via online chat, all we managed to get is a greeting. All communication stops after that point. Although there’s also an email and online form available for sending support inquiries, nothing guarantees an answer.
Beware Of Blacklisted Firms!
No matter how well regulated they claim to be, if the jurisdictional authorities label them as scam, that is a word set in stone. The case with the firm we’ve reviewed today is that of an apparent financial swindler that operates through a fake investment portal.
Please immediately seek professional legal help if your funds are stuck on this site. Our legal experts and chargeback specialists can help you recover your capital with your first consultation, which is completely free.
FAQ Section
What is Avas Union?
This is a fraudulent investment firm, multiple times blacklisted by several reputable EEA financial institutions.
Is Avasunion.com Regulated?
No, and several regulators have confirmed that. The firm operates without a valid financial permit.
What Can I Do If I Lost Money with a Scam Investment Firm?
You should act quick and get in touch with our recovery team as soon as possible. They’re available via the online chat or the form at the end of every page.
Source:
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