Aurora Coins is not regulated by any regulatory body in its region. The offshore broker may conduct business in different countries without being subject to the regulations mandated by the respected regulatory body in that nation, such as CNMV, CySec, FCA, ASIC, etc.
Regulation cannot, however, be the main justification for labeling this broker a fraud. Numerous complaints, unfavorable evaluations of Aurora Coins, and other potential scam elements could be responsible. If you trade with this broker, your money may not be secure.
In this Aurora Coins review, you will understand why we believe Aurora Coins is a scam and how you can get back your money if you’ve been scammed by the broker.
Is Aurora Coins a Cryptocurrency Scam?
Under Saint Vincent and the Grenadines legislation, Aurora Coins is an anonymous trading company. The claim that “the website is operated by AuroraCoins, a worldwide brand committed to your trading experience,” can be found on the main page. However, neither the owner nor any rules are mentioned.
There is no financial regulator in SVG. The FSA proclaimed itself ineligible and ordered all Forex and cryptocurrency trading companies to seek licenses in the nations where they offer their services. As a result, Tier 1 authorities like the FCA, BaFin, CONSOB, and ASIC should be in charge of Aurora Coins regulation.
After checking, we found that this company is a scam, much like many others, that takes advantage of being offshore. It offers financial services that are unsupervised and unregulated.
Warnings Regarding the Aurora Coin Fraud
We discovered numerous warnings against the trading fraud involving Aurora Coins. According to a warning from the BCSC and OSC, Aurora Coins is not registered to trade in securities or derivatives or to give advice about them.
According to statements made by the Belgian FSMA and the Italian CONSOB, the domain Aurora-coins.com has been added to the list of fake domains.
In What Countries Are Aurora Coins Trading Scams Active?
The fraud mostly operates in Canada. Additionally, this firm targets those residing in:
How Aurora Coins Lure Their Victims
Aurora Coins has a team of skilled support staff. They use a charming tale to persuade you to deposit the money without first having a chance to research the legitimacy of the business.
After investing, you will be given an account manager whose responsibility is to introduce you to the platform and educate you on the market. In reality, these individuals frequently suggest other financial ideas and want further funding.
If you dare to ask for a payout, they will do everything they can to stop you, even if that means freezing your investment account.
What Can You Trade on Aurora Coins?
You can trade the following on Aurora Coins:
- Cryptocurrencies: ADA, DOGE, NEO
- Stocks: Airbnb, Lufthansa, Coinbase
- Indices: DAX30, FTSE100, US500
- Commodities: natural gas, corn, gold spot
Withdrawal Fee Scam
The support will ask you to pay bank fees and income taxes before accepting your withdrawal request after you have completed all the procedures and submitted it. Keep in mind that the broker cannot demand payment for these deductions because the bank or the appropriate government agency is the one that imposes them.
Additionally, all broker commissions are removed from the earnings, so there is no need to pay anything upfront using a credit card or bank account. This is only one of the deceitful tactics the business employs to steal one final deposit before dissipating.
How to Recover Your Stolen Funds From Aurora Coins
Forexposed offers the best way to get your money back from Aurora Coins. We are a dedicated group of fund recovery experts that have already assisted countless scam victims in getting their money back. Forexposed offers free consultations so that you can find out more about how our services might meet your specific needs. Contact us right away to recover the money you lost to Aurora Coins.