Avafx.com Is A Big Money Eater

ABDUL GHAFOOR

Corporal
Messages
101
see the attachments i got from one friend for his trades

Response from the Ava Support team;

After carefully investigating Mr. Ghafoor's account our Trading Practices team came to the unanimous conclusion that Mr. Ghafoor was constantly taking advantage of our system by trading rates which were not in the market.

The customer was specifically arbitraging in volatile trading times, practicing a risk free strategy, by exploiting prices that were not real. Mr. Ghafoor was entering the market with minus difference between the buy and the sell which instantly gave him profits which were illegitimate and against Ava's customer terms and conditions.

Our Trading Practices team only takes action against a customer when it is beyond any doubt that a customer is deliberately and constantly trading to generate unfair profits. AvaFX is very grateful to the tens of thousands of customers trading every week on our platforms – but we are forced to take action when a handful of people seek to exploit our services.

Regards,
Ava Customer Support Team
do you think this is a good defination of( arbitraging)
?
if yes then look at the attachment and re examin my account i hope you will find that how is one who making profit from this condition are excepted by you and one not excepted why this dubble standerd you have for clients ?

same trading strategy but you remove all trades even not a single trade there is leagle?

this is i qute from avafx.com main page
1,*The high degree of leverage that is obtainable in the trading of off-exchange FX transactions can work against you as well as for you. Leverage can lead to large losses as well as gains.

your website warn to clients with this but when (off-exchange FX transactions) going to favor of avafx.com then it is good but when client take profit from this then it is arbitraging why?

2,**Ava FX is compensated through the difference between the buy and sell prices.

all the transection i have made in my account i have payed the spread from with avafx.com compensated have you not tacked spread?
 
Last edited:

RahmanSL

Major
Messages
2,536
I cannot help but to think that's a rather weak, half hearted, and totally unconvincing defense put up by AVA's rep.
 

ABDUL GHAFOOR

Corporal
Messages
101
I cannot help but to think that's a rather weak, half hearted, and totally unconvincing defense put up by AVA's rep.
From:
"Roy Aaron" <Roy@avafx.com>
View contact details
To:
"Abdul Ghafoor" <a.g12355@ymail.com>

Hello Mr. Ghafoor,



After carefully investigating Mr. Ghafoor's account our Trading Practices team came to the unanimous conclusion that Mr. Ghafoor was constantly taking advantage of our system by trading rates which were not in the market.

The customer was specifically arbitraging in volatile trading times, practicing a risk free strategy, by exploiting prices that were not real. Mr. Ghafoor was entering the market with minus difference between the buy and the sell which instantly gave him profits which were illegitimate and against Ava's customer terms and conditions.



Our Trading Practices team only takes action against a customer when it is beyond any doubt that a customer is deliberately and constantly trading to generate unfair profits. AvaFX is very grateful to the tens of thousands of customers trading every week on our platforms – but we are forced to take action when a handful of people seek to exploit our services.



Regards,



Roy Aaron

Senior Account Analyst



Ava FX - Integrity is our most valuable currency

Main: +1-212-941-9609

Singapore: +65 800 1205170

Fax: +1-646-335-0333

Email: roy@avafx.com / Visit us: Award Winning Online Forex Trading Platform | FX Trading

Click here for LivePerson chat



Ava Capital Markets Ltd (“AVAFX”) is regulated by the Central Bank of Ireland

[http://twitter.com/AVA_FX]



From: Abdul Ghafoor [mailto:a.g12355@ymail.com]
Sent: Thursday, April 21, 2011 2:23 PM
To: Roy Aaron
Cc: complaints ava; Customer Support
Subject: Fw: RE: i do not get awnser from avafx.com



hi,
i do not understand why you not give reply plz (give an exact definition of arbitrage and give examples of how you managed to employ this) it is your duty to provide the information that client need to know about .

this is my last mail to you if i not get reply then i have right to go further to file a case against avafx.com.

plz provide me the email contacts or phone for following


1, MR, N. NOSATZKI (CMO)
2, MR, TONY CASSIDY (CFO)


waiting for reply from you

abdul ghafoor
a/c no 727658

- On Wed, 4/20/11, Abdul Ghafoor <a.g12355@ymail.com> wrote:


From: Abdul Ghafoor <a.g12355@ymail.com>
Subject: RE: i do not get awnser from avafx.com
To: "Roy Aaron" <Roy@avafx.com>
Date: Wednesday, April 20, 2011, 10:14 AM

HI
thank you for contect me dear mr roy i am really shocked with this reply i need a answer why you not telling me what i ask to you plz i think it is very unfair with client when ever i try to chat on live support they have blocked me there why ?

i just wana solve the matter here in between me and avafx.com and you as my account manager plz except my request for reconsideration and give me my money and compensate me if avafx.com giving regards to there clients plz inform in next mail i am waiting for compensation no matter it is full or half but you must do some thing for it is a request on humanity bases.

thanks
regards



--- On Wed, 4/20/11, Roy Aaron <Roy@avafx.com> wrote:


From: Roy Aaron <Roy@avafx.com>
Subject: RE: i do not get awnser from avafx.com
To: "Abdul Ghafoor" <a.g12355@ymail.com>
Date: Wednesday, April 20, 2011, 7:33 AM

Hello sir,



I have replied to your previous emails regarding the arbitrage trading practices in your account.



Regards,



Roy Aaron

Senior Account Analyst



Ava FX - Integrity is our most valuable currency

Main: +1-212-941-9609

Singapore: +65 800 1205170

Fax: +1-646-335-0333

Email: roy@avafx.com / Visit us: Award Winning Online Forex Trading Platform | FX Trading

Click here for LivePerson chat



Ava Capital Markets Ltd (“AVAFX”) is regulated by the Central Bank of Ireland

[http://twitter.com/AVA_FX]



From: Abdul Ghafoor [mailto:a.g12355@ymail.com]
Sent: Wednesday, April 20, 2011 9:49 AM
To: complaints ava
Cc: Roy Aaron ; Customer Support
Subject: i do not get awnser from avafx.com



hi,
i am still waiting a reply from avafx.com and from my account manager Mr,Roy a Plz provide me the the result of investigation of my account that have you stated inactive i got only one mail from Roy a where he just show and tell me that i have traded out side the market
to be true with this simple answer i really not agree at all.

plz give me the answers of my questions i asked to mr Roy in chat i am quote here .

1, if i put trade and system except my order then how many pips after you think my trade is legal ?

2 if put trade and system except my order then how many pips befor if i colse the trade that was un legal ?

thees are a very simple questions no need to be a searching out for the answer i hope i will get in touche with avafx.com early as possible .

thanks
regards
abdul ghafoor
a/c no 727658


EVEN IN REPLY FROM MY ACCOUNT MANAGER MR ROY A I DID NOT FIND WHAT I ASKED TO HIM .........
SINCE I AM IN CONTECT WITH THEM THEY ARE NOT GIVING REPLY OF MY QUESTION .....
 

vincam

Sergeant
Messages
322
Response from the Ava Support team;

After carefully investigating Mr. Ghafoor's account our Trading Practices team came to the unanimous conclusion that Mr. Ghafoor was constantly taking advantage of our system by trading rates which were not in the market.

The customer was specifically arbitraging in volatile trading times, practicing a risk free strategy, by exploiting prices that were not real. Mr. Ghafoor was entering the market with minus difference between the buy and the sell which instantly gave him profits which were illegitimate and against Ava's customer terms and conditions.

Our Trading Practices team only takes action against a customer when it is beyond any doubt that a customer is deliberately and constantly trading to generate unfair profits. AvaFX is very grateful to the tens of thousands of customers trading every week on our platforms – but we are forced to take action when a handful of people seek to exploit our services.

Regards,
Ava Customer Support Team
This is a half a$@ answer. If you have the proof at least supply it to the customer???? Your policy of "we said so" is crap. You say arbitrage, show the customer his arbitrage.
 

ABDUL GHAFOOR

Corporal
Messages
101
This is a half a$@ answer. If you have the proof at least supply it to the customer???? Your policy of "we said so" is crap. You say arbitrage, show the customer his arbitrage.
they not have any solid reason behind that's why they are just quite and posting just pre made words to all clients..........
 

ABDUL GHAFOOR

Corporal
Messages
101
This Is New Chat With Avafx.com

THIS IS THE NEW CHAT WITH AVAFX.COM

General Info
Chat start time Apr 29, 2011 1:29:52 AM EST
Chat end time Apr 29, 2011 1:53:51 AM EST
Duration (actual chatting time) 00:23:59
Operator Eva

Chat Transcript
info: Please wait for a site operator to respond. You may also call us 24 hours at: +1-212-941-9609
info: All AvaFx operators are currently assisting others. Thanks for your patience. An operator will be with you shortly. You may also call us 24 hours at: +1-212-941-9609
info: All AvaFx operators are currently assisting others. Thanks for your patience. An operator will be with you shortly. You may also call us 24 hours at: +1-212-941-9609
info: All AvaFx operators are currently assisting others. Thanks for your patience. An operator will be with you shortly. You may also call us 24 hours at: +1-212-941-9609
info: You are now chatting with 'Eva'
Eva: Hello and welcome to AvaFX.com. How can I assist you?
abdul: hi
abdul: thank you for taking intrest to talk with me
info: Your chat transcript will be sent to a.g*****@ymail.com at the end of your chat.
abdul: i am waiting for reply from my account manager mr roy a
abdul: why he is not listning
Eva: He's not in the office yet. I will leave him a message to contact you once he's here.
abdul: any ava rep there ? i talk to him aboutr my problem plz
abdul: can you plz assist me ?
Eva: Roy will contact you when he's in the office. Unfortunately, I don't have any information regarding your account.
abdul: what is the term (trading out side the market ?
abdul: my account no 727658
abdul: i started with 300 euro
Eva: Trading on invalid prices - garbage quotes.
Eva: Sir, unfortunately there isn't anything I can assist you with
Eva: You will need to discuss this issue with Roy.
abdul: he is not reply to me
abdul: not via mail or chat
abdul: can you plz give me his phone no?
abdul: so i try on phone
Eva: As I mentioned I'm not able to assist you with your issue you will need to wait for Roy's reply.
abdul: you are not able to give me the contect no of roy ?
Eva: If you would like to contact him you can call here and we will transfer you to his extension.
Eva: Unfortunately, I cannot give you his contact number.
abdul: ok
abdul: one more thing i need to know plz
abdul: i hope you have the answer of this
abdul: my question is
abdul: if i have a disagree with avafx.com on my issue or the reasson provided by avafx.com so plz kindly tell me where i put this issue to your regulator ?
abdul: i saw avafx.com is regulated by central bank of ierland
abdul: i found a email of your regulator plz conferm that is it (enquiries@centralbank.ie)
info: Your chat transcript will be sent to a.g*****@ymail.com at the end of your chat.
Eva: I understand, sir. We have replied to your questions posted in the internet and to Mr. Roy. Should you have any questions please email to him directly.
Eva: It was a pleasure chatting with you. Let me know if you have any further questions. For additional ways to contact us click here. Thanks for choosing Ava FX.
 

ABDUL GHAFOOR

Corporal
Messages
101
PROTEST AGAINST AVAFX.COM AT Dublin Exchange Facility IFSC Dublin 1

hello dears,
i am still waiting from avafx.com my wining money they give me back my case is in process i have decided to do first a play card protest against them at there regulator office (Dublin Exchange Facility IFSC Dublin 1)
i am requesting here to all members and fellows get together with me.......
waiting for comments
regards
 

Hermes Leao

Private, 1st Class
Messages
54
I think you should post the full trading history so that anyone can understand what you did.

Concerning terms and conditions, it looks like they force the customer to accept that they can cancel all the trades at their sole discretion

In my opinion, the customer is not respnsible for pricing errors. It is their responsabilty to reject an order if the price is not valid or to offer a new price.

What they said about arbitrage is non sense because it is very difficult to profit from such conditions

1/ you need a screen with a fast and professional data feed

2/ you need another screen which shows your account open at a no dealing desk broker (because any requote would kill you). The broker displays a slower data feed

3/ when the first 2 conditions are met then you may sometimes see in the future because you will find a situation on screen #1 that has not occured yet on screen #2

4/ So this is time for action and you can place an order. At this point you can forget SL and TP because you have not time enough to enter these values.

5/ You will exit very fast a few seconds later

Anyone attempting to do this manually will understand how difficult it is to succeed

The conclusion is that it is possible with a software and a good technology

So the remainig argument should be "scalping" However, I did not see that they have clearly stated "scalping is prohibited".
Hi ,

I see that the last post was on april/17. Does it mean that this case had a good solution?

Thanks
 
Last edited:

vincam

Sergeant
Messages
322
No this case has not had a resolution, it is currently in the Court Case Prep folder, you will see it again soon up for a vote
 
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