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AvaFX/AvaTrade cancelled profits of $7012.25

Discussion in 'Scam Alerts' started by cbm.mng.trm, Oct 24, 2013.

  1. cbm.mng.trm

    cbm.mng.trm Private

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    Hi,

    I add my bad experience with Ava here, a little bit late, since I waited to withdrawal all my founds with them before replying and exposing my case.
    case is very simple and similar to the one Tradetowin posted a while ago:

    As clearly seen from the emails and pictures, ava canceled two very profitable trades, claiming the enter point is out of the market.
    In both trades, my profits derived from a very slow , gradual movement of the market.
    In both cases, even if we agree that they had a problem and the correct price at that time was according to Bloomberg, why canceling the order and not adjusting my profits accordingly?!

    Thanks.



    email 1:
    Thank you for trading with Avatrade.com

    The below trade(s) were executed in prices outside of the market:
    ____________


    10812214
    10812213
    10819874
    ____________

    In accordance with our Terms & Conditions, the P/L of those trades has been removed from your account.
    If you'd like further assistance in this matter please email us: cs@avatrade.com or contact your account manager.

    ** Terms & Conditions: PROHIBITION ON ARBITRAGE AND MANIPULATION
    Internet, connectivity delays, and price feed errors sometimes create a situation where the prices displayed do not accurately reflect market rates.
    The concept of arbitrage and "scalping", or taking advantage of these Internet delays, cannot exist in an OTC market where the client is buying or selling directly from the market maker .
    Ava Trade does not permit these practices on its platform.
    Ava Trade strictly forbids any form of manipulation of its prices, execution, and platform or making transactions based on errors, omissions or misquotes on the Ava Trade platform.
    Ava Trade reserves the right to investigate and review any account Ava Trade suspects of manipulation and withhold funds suspected of being derived from such activity.
    Ava Trade reserves the right to void any transaction which it has determined to be a result of any of these practices and will have no liability to the customer whatsoever for any losses incurred.

    Sincerely,

    Ava Trade,
    Trading Practices Department


    email 2:


    Yaniv hello
    I don’t know why you choose to understand we had a problem
    Has you have been told, some of your trades were made out of market price.
    According to section 15 and section 18 in our terms and conditions agreement (which you have accepted upon yourself by opening account)
    In such cases AVA is entitle to make adjustment in the account.
    You have been notified about this action and also got the screenshots to prove it.
    This is our final decision, if you have any further queries, please send them in writing to our contacts.
     
  2. Pharaoh

    Pharaoh Colonel

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    Please post your screenshots as well as the ones AvaTrade sent to you.
     
  3. cbm.mng.trm

    cbm.mng.trm Private

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    For unknown reason it hasn't been attached to the first thread.
    thank you Pharaoh.

    image006. image007. image008.
     
  4. cbm.mng.trm

    cbm.mng.trm Private

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    And the trade from my MT4 point of view.

    26-10-2013 19-32-40.
     
  5. scream007

    scream007 Private, 1st Class

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    It s not the first time that Ava cuts profits from there clients because of manipulation and arbitrage trading like they claim , you are not the first one and not the last who will get scammed by this broker.
     
  6. Pharaoh

    Pharaoh Colonel

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    Go ahead and ask AvaTrade to post a reply and explain this.

    The only thing I see in their favor is that they canceled one small losing trade. I would think that if Ava Trade really is passing trades on to the real market and not just keeping them all in-house, then adjusting trades to match what their LP's provided would be the most fair thing they could do.
     
  7. cbm.mng.trm

    cbm.mng.trm Private

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    Ok guy's , so what should I do now, how do I invite them to respond ?
     
  8. Master Yoda

    Master Yoda Captain

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    Just send them a link for this thread and ask them to answer there
     
  9. cbm.mng.trm

    cbm.mng.trm Private

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  10. Master Yoda

    Master Yoda Captain

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    Send it via email to them
     

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