Avaforex Issue.

Nanor

Recruit
Messages
5
Hi Im Philip from Ghana i started trading with a broker of avaforex trading a month ago and i have still not recieved my payout yet he has told for my payout to work i need to pay 300 dollars and i did now hes telling me the money keeps reversing so i need to pay 100 dollars to get my payout. Right now i dont know what to do and when i check my trading account i have 1500dollars ad now way to cashout any advice
 

FxMaster

Lt. Colonel
Messages
9,017
Hi Im Philip from Ghana i started trading with a broker of avaforex trading a month ago and i have still not recieved my payout yet he has told for my payout to work i need to pay 300 dollars and i did now hes telling me the money keeps reversing so i need to pay 100 dollars to get my payout. Right now i dont know what to do and when i check my trading account i have 1500dollars ad now way to cashout any advice
https://www.avatrade.com/ right?
 

Nanor

Recruit
Messages
5
Youve been waiting for your withdrawal too?
Their customer service is so poor i could literally send so many messages and there would be no reply for days now customer service is tell me to wait they would get back to me
 

4evermaat

2nd Lieutenant
Messages
1,852
Hi Im Philip from Ghana i started trading with a broker of avaforex trading a month ago and i have still not recieved my payout yet he has told for my payout to work i need to pay 300 dollars and i did now hes telling me the money keeps reversing so i need to pay 100 dollars to get my payout. Right now i dont know what to do and when i check my trading account i have 1500dollars ad now way to cashout any advice

Which division of AvaTrade did you open your account with? (they have regulation in several places).

What makes AvaTrade so "clever", similar to ironfx is that they advertise regulation in several places....but then if you look closely at the regulation or what is covered by the regulation, it is useless for you as a retail trader. Because they know that 95% of compulsive gamblers will never check what it actually covers anyway. And even a professional trader could initially get taken in by the looks. But if they only dig a bit further (as they should if you are trading other people's money) you would see that they are merely very good marketers.

I would contact both AFCA and the Ireland regulator and initiate a complaint https://www.afca.org.au/make-a-complaint/complain/

If they try to say that they are not regulated, you can give AFCA this video


and this image

AvaTrade why avatrade regulation list in detail.png

And Ireland regulator you will have to just email your complaint (keep it brief)

http://registers.centralbank.ie/ContactUsPage.aspx
These are the 3 emails likely to accept your complaint.
iffsadmin@centralbank.ie
retailintermediaries@centralbank.ie
marketsadmin@centralbank.ie

make sure you link to their profile here: http://registers.centralbank.ie/FirmRegisterDataPage.aspx?firmReferenceNumber=C53877&register=32
 
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