Abex Market Review

Abex Market Review

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Abex Market, operating through the website abxmkt.com, has grown concerns regarding its legitimacy. The platform, which claims to offer a wide range of investment services in areas such as forex, commodities, cryptocurrencies, and synthetic assets, has come to light for potential fraudulent activities. Despite its attractive offerings, numerous red flags suggest that Abex Market may be involved in deceptive and manipulative practices designed to exploit unsuspecting investors. Read this comprehensive Abex Market review to know all the red flags issued against this broker.

Overview of Abex Market

The platform promotes its services across different asset classes, including forex, commodities, NFTs, cryptocurrencies, and synthetic assets, claiming to provide advanced trading tools and profitable investment opportunities. However, closer examination reveals its legitimacy is questionable, with several complaints and warning signs signaling that it may be a scam.

Trustworthiness Concerns

One of the most significant concerns regarding Abex Market is the low trust score it has received from independent scam detection platforms such as Scamadviser. Key factors contributing to this low rating include the use of paid WHOIS services to conceal the website owner identity, lack of verifiable ownership details, and association with other low-rated websites hosted on the same server. Additionally, the platform recent registration date is a common feature of websites that carry out fraudulent activities and then disappear after a short time.

User Complaints and Allegations

Abex Market has faced numerous complaints from individuals who claim to have fallen victim to its high-pressure tactics. One user reported that their account was frozen, and they asked to pay a large sum of $17,800 in taxes for the account activated. This behavior is a well-known tactic to extort additional funds from victims under pretenses. Victims often feel coerced into making these payments due to the threat of losing access to their accounts and investments. This type of financial manipulation is fraudulent behavior and should raise immediate alarms for anyone considering using the platform.

Address Verification Issues

Abex Market address is 301–303 Deansgate, Manchester, England. However, there is no verifiable evidence linking the company to this address. Legitimate businesses, particularly in the financial sector, typically have clear and transparent contact details, including a verifiable physical address. The absence of a verifiable location further increases suspicions about the platform authenticity. Scammers often list fake addresses or fail to provide any physical location to remain untraceable and evade regulatory scrutiny.

Association with High-Risk Services

Abex Market involvement in cryptocurrency trading is another factor that raises concerns. Cryptocurrencies, while legitimate, are associated with high risks and are commonly used in fraudulent schemes. The platform has been flagged for offering high-risk cryptocurrency services, which is an indicator that it may be engaging in deceptive practices. Scammers often target cryptocurrency traders due to the suspicious essence of the market.

Regulatory Status and Legal Oversight

Another major red flag for potential investors is the lack of regulatory oversight. No evidence suggests that the platform is registered or regulated by any recognized financial authority, such as the FCA in the UK or the SEC in the US. The absence of regulation leaves investors unprotected, making it more likely that they will fall victim to fraud.

Conclusion

The platform low trust score, user complaints, lack of regulatory oversight, high-pressure sales tactics, and the absence of a verifiable physical address all indicate that it may not be a legitimate investment opportunity. Investing with unverified platforms like Abex Market carries significant risks. Begin your recovery journey now with CryptoScams.com.au.

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