Abey-o Life has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to ES Invests. We’ve received over 7 complaints against Abey-o Life.
Abey-o Life advertises itself as a well-regulated forex broker, however it lacks transparency and legitimate regulatory claims. It has a high minimum commitment, only accepts bitcoin deposits, and employs a basic trading platform. To ensure safety and trustworthiness, investors should choose brokers who are authorized by respectable bodies such as CySEC or the FCA.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is Abey-o Life Regulated? Do They Have a License?
When looking at the statements on the Abey-o Life website, one could assume that this is a well-regulated forex broker that promises investors peace of mind. However, a closer look reveals that Abey-o Life does not keep its claims and may not be a reputable financial services supplier. In this study, we will describe the important indicators that raise red flags and direct you to reputable investment brokers.
One of the most obvious faults with Abey-o Life is a complete lack of openness. The website’s Terms & Conditions do not include a corporate name or contact information. A respectable broker’s website will normally offer detailed information about the company, its location, and regulatory oversight. Abey-o Life claims to have regulatory permits, however without a legitimate firm name, these claims are questionable.
The website shows a German address while claiming licenses from Cyprus and Dubai, as well as licenses from the United Kingdom and Australia. However, the Terms and Conditions refer to Vanuatu’s offshore zone. A review of relevant financial regulator data, including those in Vanuatu, reveals no licensed brokers using the Abey-o Life name. The website, which is mostly in Russian, contains a notice from the Bank of Russia that Abey-o Life is not licensed.
To safeguard the safety of your money, use brokers that are regulated by respected institutions such as the Cyprus Securities and Exchange Commission (CySEC) or the Financial Conduct Authority (FCA) in the United Kingdom. These brokers provide assurances such as negative balance protection and fund guarantees for up to EUR 20,000 in the EU and GBP 85,000 in the UK.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Abey-o Life might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Abey-o Life, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Abey-o Life
Abey-o Life provides a rudimentary web trading platform with limited functionality and customisation choices, comparable to those utilized by fraudulent brokers. These platforms can alter trade results, leading users to believe their investments are profitable.
Reputable brokers provide clients powerful trading software like as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are noted for their vast features, customisation options, and support for automated trading.
Abey-o Life requires a $1,000 minimum investment, when many trustworthy brokers enable you to start with as little as $5 to $10. Furthermore, Abey-o Life only accepts bitcoin deposits, which are a typical fraud tactic due to their secrecy and irreversibility. Legitimate brokers, on the other hand, usually accept a wide range of payment options, including bank transfers, credit/debit cards, and popular e-wallets such as PayPal, Neteller, and Skrill.
Abey-o Life advertises trading across a variety of instruments but gives no information about trading criteria or additional commissions, as opposed to respectable brokers who provide transparent and extensive information.
Abey-o Life provides leverage up to 1:100, which exceeds regulatory limits and increases the danger of severe losses. To mitigate risks, reputable regulators cap retail traders’ leverage.
Abey-o Life does not mention withdrawal terms, which is sometimes indicative of hidden costs and restrictions that may prevent you from retrieving your assets. Reputable brokers offer uncomplicated withdrawal procedures.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
To avoid such scenarios, it’s best to work with a reliable and trusted broker.
Abey-o Life Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Abey-o Life Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if Abey-o Life might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online Abey-o Life reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Abey-o Life, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like Abey-o Life enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Abey-o Life reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Abey-o Life.
You should always look out for consumer complaints. In the case of Abey-o Life, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Abey-o Life? You can share your complaint in the comment section or submit an anonymous tip.
Is Abey-o Life Legit Or a Scam?
Abey-o Life is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Abey-o Life can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Abey-o Life?
Abey-o Life raises several red flags, including a lack of transparency, bogus regulatory claims, exclusive cryptocurrency deposits, and excessive leverage. Investors are urged to pick brokers who are authorized by trustworthy bodies such as CySEC or FCA to ensure the safety and reliability of their investments.
All the evidence suggests that Abey-o Life might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of
Frequently Asked Questions
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
