September 2013: AvaTrade has not been able to provide the FPA with information about how the company can tell what is a normal off-market fill vs. what is arbitrage.
Until this issue is resolved, the FPA recommends against using Forex News Gun software or any other news trading software with AvaTrade.com.
Ava Trade, formerly known as AvaFx, is an online forex broker. Ava offers the MetaTrader4, Ava Trader, AVA Options, Mac Trading, and MT Mobile top online forex trading platforms. Avatrade.com offers over 60 currency pairs, gold, silver, oil, stock indexes, Bitcoin, agriculturals, stocks, and treasuries for your personal investment and trading options.
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- Not guilty0
AvaTrade.com (AvaFx.com) profile provided by Desmond McNulty, Apr 22, 2013
Ava was launched in 2006 offering online Forex trading. Since then it has expanded into offering CFD trading on commodities, stocks, indices & bonds. It is one of the world’s most popular brokers, with more than 200,000 registered customers and an annual turnover of more than $400 billion in 2012. New features for the launch of AvaTrade include:
New & improved website utilizing the latest technology
ETFs (Exchange-Traded Funds) added to Ava’s selection of 200+ instruments
Mac-compatible Ava MetaTrader 4 available for first time
MetaTrader 4 accessible as fully-featured web trader and smartphone app
New training videos and free online trading course
First CFD broker to introduce segregated client custodial accounts
Your company video here? Contact ad sales
very very bad and no one in the company is trying to resolve the issue that happen to me
I start trading with AVATRADE 3 months ago. I submitted a withdrawl in the amount of $47,700 on 2nd of September and until today i never recieved anything in my bank account. I email the account manager Sam Hanoch still the answer is the accounting the department has not give any response.
then they actually send an email , a copy of NATWEST transfered but using the wrong banking information. when I ask my account manager he could not answer why the banking information is all wrong. he send a copy of the information i submitted is all correct exactly like the first time i deposit the money. but the proof from the NATWEST show the information is wrong. so definitely this is an error that AVATRADE made and they are not doing anything about it to resolve the issue.
at this point i don't know who is playing games the account manager or the company and is that copy of NATWEST document is a real document or scam
i have emailed them to trace the money and pull it back and make a new wire transfer as i need to teach the account manager how to do their job.
instead he just said the accounting department has not get back with him.
this is not the only issue that i found is disturbing. The call center always hang up on phones and the chat line take forever to be answer. sometime have to wait a half day just for you to be able to communicate to anyone in that company
and when your able to communicate with someone it's always the same person just as they are short on employee.
my review about this when you will make an initial deposit they will chase you like crazy but when you try to withdraw or send email they will not bother to take you seriously
this is a very stressfull issue for me and the first time i experience something like this with a trading company.
frustrated customer dealt with and problem sorted. :)
I thought I would give AVA a thumbs up after reading all the negativity about them. Ive had 2 withdrawels, 1st one deposited with a reasonable timeframe, it was just unfortunate I sent wrong details about my bank so it got lost in cyberspace for that. It got sorted through my mistake, so cheers for that.
2nd one no dramas and I got right account this time, and came through easily and quickly.
Customer support seriously needs some work on it, you got to type in your account number when Ive already logged in, then have to give it again, doesnt make sense. Emails sent to customer support go unanswered and leaves customer frustrated.
But am happy with AVA, so good work guys, keep it up
AVATRADE IS A SCAMMER
Ava is a scammer don't trust them , never sign up with them , they won't withdraw your money , when you ask why they won't withdraw your email , trust me do yourself a favour and don't sign up with them , THEY ARE SCAMMERS
Non Existing Customer Service, Failed Promises
PATHETIC, NON-EXISTENT SERVICE
Don't bother attempting to do business with this company as it will only end in frustration. The call centre cuts off calls repeatedly. It takes at least one hour to receive a response from the Live Chat. The account manager is not bothered to respond to emails, and still waiting on customer service to respond more than one week and several failed attempts later.
Even if you WANT TO TRADE with AVATRADE you WILL NOT BE ABLE TO as they simply make it impossible to do so. Worst ever. Their loss..
1.) I emailed Avatrade of the Issue that Im not able to login and send the automatic report generated by the APpcrash and also screenshots to verify my issue- BEFORE 11.38 when the margin call happened as what stated on your System LOg, Do I need to send it again? I posted those on forexpeacearmy for the community to review, (-_-)
2.) I demanded of explanations to how will I able to provide generated reports of appcrash and told them that I am in close monitoring of my trades. It happened all before the MArgin call as what the times indicated on the proofs I sent and I even received a call from avatrade informing me to switch to mt4 since it sometimes happen, as what others are claiming on google play store. What am I? a future teller that I already know a margin call happened? I told them I want to modify my trade because I forgot to place limits, which should have prevented if Im able to loggin,, I sent the reports, screenshort and I called before it happened.
3.) If the generated report was fake, How did I manage to create exact text and the email address it automatically provided which is firstname.lastname@example.org, if thats right, where the hell am I gonna find this address to make false report? (-_-), if the screenshots I sent where photoshopped or forged whatsoever, its too easy to verify authenticity, there are online services for that too, (-_-)
4.) Im working on international trade job, I can earn back whats lost to me in less than 2 weeks work, I wouldnt risk my carreer for a couple of hundred dollars by destroying a multi billion dollar registered broker, (-_-), I gave all my Identification prior to completing my account, now who will do that to ruin his career?
5.) I demanded explanations many times and Avatrade FAILED to do so, Im not interested for the money to give back, you misjudged me as being INCORRECT with my claims,. I do have rights to post in any review sites because of this,.
Avatrade withdrawal nightmare
Hello Felow FPA members,
Avatrade is a scammer. It was easy for them to take my money. But when it comes to withdrawal, they are not giving back my money.
Depositing and Withdrawing Money Is Never Easy With Avatrade
I was introduced to Avatrade by the Shaw Academy. They seemed to have a good selection of instruments to trade.
Straight up I encountered a problem of wanting to change my introducing broker (to CashBackForex). Avatrade made me go back and forth between a number of CS reps and finally said no. But I guess my trading volumes weren't that large anyway so I let that pass.
Depositing my money wasn't very easy with Ava. For some reason they rejected my credit card and I had to wire in my money.
Withdrawals though... almost impossible.
First I contacted my account manager David Berman, and he mentioned that I had to send him an email to "forfeit my bonus". And so I did. Then, nothing came of it. No follow up emails of "I'll look into it" or anything else. I then added the customer and feedback emails and I still didn't get a response.
Avatrade promises a withdrawal within 5 business days, but they make it as painful as possible to withdraw.
Look, I didn't think forex was for me anymore at this time, but if I wished to return in the future, I would stay the hell away from this company.
If FPA is unable to resolve my case, I will have to bring this to the attention of ASIC and the Financial Services Ombudsman in Australia. I'm sure Avatrade wouldn't want their Australian license to be revoked.
(As a side note: I have once closed my account with Interactive Brokers and they provide stress free and simple withdrawals. I have since decided to reopen an account with them)
Don't trust Avatrade!!!
I opened a FX trading account with www.avatrade.com.au on 01/09/2017. I transferred $7,500 into their account in the name of Ava Capital Markets Pty Ltd FSL 406684 ABN 72 143 340 907 BSB 012 003 AC 27748513
On 04/09/2017 I noticed my trading account did not have funds in it. I attempted to call Avatrade and there was no answer, nor any response to my emails. After trying to contact them by several means for several hours I asked my bank to reverse my deposit and retrieve the money as I felt it was suspicious.
Avatrade initially claimed not to have received the funds, so I cancelled my account with them and requested a refund several times. Yesterday 14/09/2017 they told me they had found my deposit but it would take 2 weeks to get the funds returned. In my opinion this is unreasonable and by the time I get the funds they will have had my money for 4 weeks. If I transfer money from one Australian account to another it is usually in the receiving parties account the following day (i.e. 24 hours) so why does it take them 2 weeks. My theory is they are using my funds for their own investment/trading purposes or they are insolvent. Either way, I would not recommend them, they are manipulative and unprofessional in all respects.
They close open Trades without warning and DON´T refund Money!
Today I filled a complain with the Irish Regulation, I suggest to you also to do the same...the more complains, the more Problems they get!
here the E-mail to the irish central Bank: email@example.com
Submission of a complaint to the Central Bank:
Dear Sir or Madam,
I would like to discourage a complaint with a financial institution regulated by your authority.
AVA Trade EU Ltd. (No. C53877)
1.) This broker asked several time for my ID / passport and the proof of the address - I send this many times (see appendix)
To date, I get these automated messages.
2.) This broker closed my open trades with a loss of over € 250, - without permission and without warning!
so they basically manually handy my account: 6402556 which they had no agreement with me to act on my account!
3. For weeks I am trying to withdraw the rest of my money from my account, without NO succes. This broker sends automatically
E-mails, always ask me for my ID / passport and proof of address, - every time I send by e-mail (see attachemend)
Pleas help me to recover my money or advise what legal steps I can take.
Aug 10, 2017 - 1 Star Can You imagen. They just stoped my Trading Account today!
Yesterday I senden my Passport (which I used for 4 other Brokers never any Problem) and my Bankaccount Statement)
Suddenly today no more trading...I asked the support. They said my Bankstatement has no activity for that period so they can NOT accept it - what a joke. And I need to send a Drivers Licence or ID, they cant accept my Passport-eaven a bigger Joke!
I only have a small account cause I read allready the bad reviews...and now I know it´s true.
Neverless, since I like to get my rights, I will take a Laywer in Dublin and check my chances...I don´t care about the costs :-)
But first, it would be good when you have problems with that company to complain to the regulations in ireland, the more complain-the more Problems they get:
Reply by AvaTrade submitted Aug 14, 2017 Hi kaia,
Our representatives tried to reach you several times, however it appears the phone number you have submitted is incorrect. We have also sent you numerous email regarding your documents, and none were answered.
Your passport was not accepted as the picture you sent is blurry. Other documents you sent did not match the level of compliance we are committed to.
Kindly send to firstname.lastname@example.org your phone number so we can contact you directly.
Be careful, professional scammers looking for prey...
Save your money. Professional scammers. Dishonest broker pretending to be fair players.
I opened a long trade on a USDCAD pair. To start with, I was hit with an unfair and uncalled for 'slippage' as I placed the position, there was no news or anything to justify 'slippage' when entering the trade. This has become quite common with AvaTrade as they are scammers but this is not the reason that I am writing this review.
I am writing this very negative review because after several hours of being in the long USDCAD trade, as it went a bit in my favor and prior to news concerning the CAD (in order to be on the safe side), I moved my s/l to break even. I entered at 1.23764 and my s/l was placed at 1.23770 (a long trade).
They closed my trade as it reached my s/l but they placed a huge loss 3 times bigger than the entire intended 50 pips t/p!!! I couldn't believe my eyes. I thought that it is a mistake on their part and needless to say that that had annoyed me quite a bit, so I contacted their customer support and one of their representa-thieve got back to me with the following:
"Michael Harper: okay , you were hit by the gap. there was slippage on the trade. the Stop loss locked in at the next best price which was : 1.22617"
Save your money!
A bunch of thieves pretending to be representa-thieves. You are at their mercy and they are dishonest crooks. Find a better broker, just about any broker will be.
To the owner of this website: you write that they are regulated, etc. please reply to my comment and tell me by whom, I would like to make a formal complaint and try to recover my unjustly lost funds.