CavieX Review: Caviex.com an Offshore Broker
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CavieX Review
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Fund Safety
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Customer Support
Summary
shady brokers is the fluid and often temporary nature of their operations. These fraudsters typically do not have long-term plans and are not interested in building a sustainable business.
At CavieX, you will purportedly enjoy freedom and success. However, this promise is fake, just like the broker. This shady firm is trying to imitate another regulated broker called EGM Securities. However, notice the slight change in the first letter.
This is a typical tactic used by most scam brokers to confuse traders. You must always ensure you trade only with honest and transparent crypto brokers to avoid mishaps.
Scam brokers that copy legitimate brokers’ details often create websites that closely mimic the design, content, and overall feel of established, reputable forex brokers. They might replicate logos, color schemes, and even web page layouts to ensure their fraudulent sites appear trustworthy at a glance. Beware of such tactics.
About Caviex.com
This broker allows you to trade currencies, crypto, and stocks. They claim to be an international entity with a rich history of success. In the stock market, more than one million traders have supposedly chosen to work with them.
This sounds good, but when checked on whois.com, we saw that the broker went online on 26th January 2024. They have been in the market for less than six months at the time of publishing this review. It is common practice for scam brokers to operate for a limited period, only to disappear at their earliest convenience.
Founders and Team
We did not find any names or information of people linked with CavieX. One of the crucial aspects of shady brokers is the fluid and often temporary nature of their operations. These fraudsters typically do not have long-term plans and are not interested in building a sustainable business.
Publicly identifying their leadership would create a trail that could hinder their ability to shut down one operation and swiftly start another under a different guise.
Moreover, scam brokers often use fake or stolen identities to create a facade of legitimacy. If pressed for information, they might provide names and credentials that belong to entirely different people or are entirely fabricated. This lack of transparency is a significant red flag.
Contact Details
There’s a phone number, email, and physical address in New York. The broker claims to be located somewhere on Seventh Avenue. This is supposedly meant to create an impression that they are legitimate. However, they may be giving misleading information.
This can delay or prevent effective communication between the broker and the client. The goal of this tactic is to buy scammers time to execute their schemes. By listing phone numbers, email addresses, and office locations—even if they are fake—the brokers give the impression of a well-established business. This perceived legitimacy can attract more unsuspecting traders.
CavieX Regulation Status
On their Licenses and Documents page, the broker claims to be authorized and regulated by the U.S. Securities and Exchange Commission. To get this licensure, a forex broker must thoroughly understand the regulatory framework established by the SEC. This includes familiarizing themselves with federal laws and regulations that govern securities and commodities trading.
Forex brokers must register with the National Futures Association (NFA), a self-regulatory organization overseeing derivatives and forex markets in the US. The registration process involves submitting Form 7-R and paying the associated fees. When we checked the NFA’s online registry, we didn’t find the name CavieX anywhere.
One of the key steps in the authorization process is meeting the SEC’s financial requirements. This includes ensuring adequate capitalization by maintaining the minimum net capital levels specified by the SEC. Brokers must also keep customer funds in segregated accounts to protect clients’ investments. CavieX has not met these standards and therefore, they are operating in the US illegally.
CavieX Trading Conditions
The broker has not revealed any details regarding their trading parameters such as spread, leverage, and commission charges. However, we noted that the broker only allows traders to deposit through cryptocurrencies. This is not a surprise because with this method, the transactions are irreversible and the money is untraceable.
Final Verdict
CavieX is a scam broker. Although they have a well-designed website, they are in reality schemers whose main aim is to steal traders’ hard-earned money.
With this illegal practice, they have put at risk many investors’ money. To avoid being one of their victims, trade only with honest and transparent forex brokers.
