How to recover your investment from AZTrades – Scam Broker Review
Be on the Lookout; AZTrades is an offshore broker; Your investment is at risk. Read this review you want to recover your investment from AZTrades.
Is AZTrades a legit broker or a scam?
AZTrades is an unregulated offshore broker that offers services such as forex, CFD and or binary options trading. The broker is registered in a fiscal haven that lacks the intervention of any investment regulatory process. This means that taking legal action against this forex broker is next to impossible. Read this review to recover your investment from AZTrades.
AZTrades broker relies on a number of tricks to reach their prospects and make them believe that the money they are investing with them is in safe hands and will generate humongous returns. Such tricks include the use of the state of the art websites and apps, with all sorts of attractive trading conditions followed by well-spoken staff and very efficient customer support after signup. This is all smoke and mirrors.
As far as this kind of scheme goes, the AZTrades staff could very well be operating as part of a network of anonymous call centers in undisclosed locations. They could outright lie to you about their location and even their names. In typical investment scams, the staff uses stage names when communicating with the clients to add a layer of anonymity. Using excellent sales skills paired with manipulative psychology techniques, the staff involved in these sophisticated scams will prompt the victims to invest always more money, often beyond what they had planned in an attempt to avoid losing it all. This type of scam is now widespread and used to defraud unsuspecting victims billions of dollars annually.
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AZTrades broker Reviews
A look into AZTrades Reviews on various internet forums will reveal that AZTrades clients have had issues withdrawing their investments and/ or profits. Though the reviews regarding AZTrades have been drawn from various sources, it reveals a similar challenge. AZTrades entices clients into this scam through interesting profits posted to their clients’ trading accounts.
The company even goes to the extent of transferring some of the money back to the clients. Once the clients’ trust is gained, they are prompted to invest more money for much better returns. Once the client has transferred the money, the problems begin.
AZTrades broker will then manipulate the trading platform to create scenarios jeopardizing the clients’ investments. The clients are then prompted by AZTrades Financial Analysts to transfer more money into their accounts to reduce the losses they are facing, often to avoid losing their investments altogether. Immediately after they do this, withdrawing the funds becomes an issue.
How To Recover Your Investment From AZTrades Broker?
There is no easy way to recover your investment once you have sent it to AZTrades. AZTrades is structured in such a way that it makes it hard to pinpoint the scam to specific individuals and prove any wrongdoing. AZTrades constitutes a brokers brand that is managed by a chain of shell companies registered in fiscal havens. Building a legal case against the broker would require one to utilize the services of a private investigator to track the money trails and trace it to individuals who could testify of the fraudulent practices of the broker. This does not even factor in the huge legal costs that would be required to institute a civil action in such offshore locations. Such prohibitive costs make it hard for customers of AZTrades to take any action.
However, hope is not lost. There are other means through which investors can recover their funds from AZTrades, without going the civil action route. A number of AZTrades victims have managed to recover their funds by maneuvering the banking legal system. While this method might be unknown to many people, it is possible for an individual to get his or her bank to reverse credit card charges and bank wire transactions in his or her favor. While this is possible, the route has a lot of rules and regulations around such a procedure and it would be wise to hire an expert if you want to recover your money from AZTrades broker.
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More reasons not to trust AZTrades Broker
We did not find any regulations explicitly stated on the broker website and this should not be a surprise, as the authorities of Saint Vincent and the Grenadines do not regulate forex brokers. There is a given address and registration number for the company that checks.
In addition, we must emphasize, as we have repeatedly said, that the absence of regulation creates uncertainty about the most crucial aspect of brokerage – the security of client funds. We have no guarantee of separation of accounts, that is to say that we do not know if the brokerage treats the money of its customers separately from theirs, which considerably increases the risk of fraud. Clients also do not participate in a compensatory mechanism, such as the Cysec authorities’ Investor Compensation Fund, where traders can cover losses in the unlikely event of a brokerage’s bankruptcy.
AZ Trades is an unregulated brokerage in Saint Vincent and the Grenadines that does not offer all of these favorable trading conditions. The spread is slightly above average and the leverage is particularly low, however, the most important criterion is where the broker is likely to fall short – the security of client funds. Without proper regulation, we simply cannot confirm the safety of clients’ money and this is what most urges us to recommend to interested traders to look for better trading options to which we have linked throughout examination.