On 04 October 2021, New Zealand regulator FMA has issued a formal warning about Avan Investment for its suspected scams. According to the release, FMA says that it is concerned that Avan Investment is involved in a scam. The regultor has been made aware that a client of Avan Investment is having difficulties withdrawing the funds they invested as well as profits made from trading on Avan Investment's platform. You may visit: https://www.fma.govt.nz/news-and-resources/warnings-and-alerts/avan-investment/

Avan Investment claims that it is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and is authorised and regulated by the UK regulator Financial Conduct Authority (FCA). However, these are just false and misleading claims. Firstly, the broker stated that it becomes one of the IIROC members. Searching information of registered company on IIROC, we found no results about Avan Investment. Therefore, this is a BIG RED FLAG! Moreover, the firm says it is authorised and regulated by FCA with the register entry number #608130. But when searching with the number on FCA, we found that the information just belongs to another company called Beta Money Transfers A/S, who does not manage forex business and has no connection with Avan Investment. Therefore, this is another red flag. New Zealand regulator FMA has issued a formal warning about Avan Investment for its suspected scams. All of these tell a reality - Avan Investment does not fall under any regulating agency. That is a MAJOR SCAM RED FLAG!! That should be enough for you to believe it is a scam.