Problem Avafx.com Is A Big Money Eater

[FXDutchess]

I didn't have any help from EA's, my buy/sell orders were made purely by setting up order in their order boxes or clicking buy/seel button manually or straddle. So it was made with tools they provided in their platform and no modifications were made.

If they offer fixed spread and instant execution(claims from their marketing material), they should stand behind their claims otherwise they were misleading customers at very beginning of business relationship and I'm sure fines for that are huge!

Now they have 2-3 seconds lag on all entries so they figured out they cant keep promises made in their commercials. Fine with me but they cant claim they have instant execution anymore and certainly NOT punish traders by canceling history trades because they didn't use lag in their platform till now!

 

[FXDutchess]

And Yes the lag is good for them, if they can't keep their marketing promises, but they must state at their web site that there is lag in execution otherwise they are misleading traders with statements like :

'AvaTrader is a multi-faceted forex trading platform that is easily adaptable to the trader's individual preferences and tastes. Foremost, AvaTrader gives the user the opportunity to trade in FX quickly, seamlessly and easily via the live streaming prices that are constantly generated. All of the advanced functionality is visible within the platform and the main page gives the trader a one-page full-featured advanced forex trading platform.'

They should also state that they can erase trades for year or more back(not in small print in agreement that is almost impossible to find on their site), I would really like to see new traders joining AVAFX if they knew that each profitable trade they made could be erased at withdrawal after two years of trading. So you basically know in the beginning that even if you were profitable that doesn't mean anything until withdrawal. I really don't see any trader agreeing to that.

And if they now decided to change the time needed to get into the trade, they certainly can't erase trades that were made by the time their platform executed trades instantly. It is their fault and I'm sure not paying their mistakes with my money!

And I wasn't using any modifications, EA's or programs that could take advantage of their platform, if that's even possible. All my trades(very few of them) I made around news(which were announced in AVAFX's platform) were executed after news happened(this is evident in my trade history) and not before it was evident news were announced in their platform and market already moved(my entries weren't made just prior to move or news but after), so I really don't know what credible proof they have against my trades!?

 

[AvaFX Support Team]

AVAFX at all times aims to provide pure & 100% accurate price feeds - for optimal trading experience for all our clients.

AVAFX has received numerous awards for our unparalleled trade executions, transparency, and customer service.
We are constantly praised by our trading partners, money-mangers, and clients on our speed & level of execution, and low latency and trade rejections.

Periodically, throughout March & April - AVAFX had intermittent minor issues with one of our feed providers.
This resulted in isolated off-market or delayed prices displayed & executable on a select few instruments for specific very short periods of time (usually for a few seconds only).

While 99.99% of our traders were not affected by such minor issues, very few traders, either with or without automated machines tried to take advantage of such issues by selling a specific instrument if the true market price was lower than the price traded on our platform, or buying if the market price is higher.

According to AVAFX trading conditions - It is company policy to cancel or accordingly amend any trades in off-market prices. The policy is aimed specifically at traders looking to exploit these off-market prices.
These trades are cancelled regardless of whether the trade is profitable or loss making.

Mr. Ghafoor clearly tried to take advantage of these feed delays by entering trades in off-market prices for short periods of time - and closing again quickly making unreal profits with little to no-risk.
As per above AVAFX policy - These trades were consequently cancelled according to AVAFX policies & procedures.

AVAFX constantly monitors & reviews all our pricing feed engines to maximize traders experience and eliminate delayed or off-market prices.
These minor feed issues experienced in March & April have now been resolved between AVAFX technical support & AVA price distributors.

Moreover, Mr. Ghafoor received detailed explanation about his false trades, with clear proof from independent sources (i.e. Bloomberg) that the prices he traded were off-market.
We strive to be the first choice for all honest traders who are looking to profit from real market-movements, and last choice for traders who are looking to manipulate our systems by trading on unreal prices.

Regards,
Steven Freedman
VP Customer Care Department

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

 

[ABDUL GHAFOOR]

And Yes the lag is good for them, if they can't keep their marketing promises, but they must state at their web site that there is lag in execution otherwise they are misleading traders with statements like :

'AvaTrader is a multi-faceted forex trading platform that is easily adaptable to the trader's individual preferences and tastes. Foremost, AvaTrader gives the user the opportunity to trade in FX quickly, seamlessly and easily via the live streaming prices that are constantly generated. All of the advanced functionality is visible within the platform and the main page gives the trader a one-page full-featured advanced forex trading platform.'

They should also state that they can erase trades for year or more back(not in small print in agreement that is almost impossible to find on their site), I would really like to see new traders joining AVAFX if they knew that each profitable trade they made could be erased at withdrawal after two years of trading. So you basically know in the beginning that even if you were profitable that doesn't mean anything until withdrawal. I really don't see any trader agreeing to that.

And if they now decided to change the time needed to get into the trade, they certainly can't erase trades that were made by the time their platform executed trades instantly. It is their fault and I'm sure not paying their mistakes with my money!

And I wasn't using any modifications, EA's or programs that could take advantage of their platform, if that's even possible. All my trades(very few of them) I made around news(which were announced in AVAFX's platform) were executed after news happened(this is evident in my trade history) and not before it was evident news were announced in their platform and market already moved(my entries weren't made just prior to move or news but after), so I really don't know what credible proof they have against my trades!?

asstmoderator have post in my case folder provided by avafx i hope he will post here too for all members to see, we all here discussing about ava bad practice and i request you to again take a look of your trades and take some snap shots and post here ......

 

[AsstModerator]

I had posted this inside the Case Preparations Folder, but since Abdul asked, here it is.

The first item they sent was...

we had for the past few months a small problem with one of our liquidity providers, that at certain specific times were off markets for a few seconds at very specific instruments (especially very few specific CFD instruments)

A few very smart traders (less than 0.1% of our traders) who watch the market through multiple sources and sometimes with automated machines, were taking advantage of such feed issues by trading at those specific times to generate unreal profits and against our terms & conditions which clearly forbid such trading behaviour.

Then they pulled out some info directly about your account. I tired to post it in pieces, but it contains some tables that didn't work too well. Here's an image file instead.

 

[MichelAnge21]

Oil ? If only I could fill my tank at the gas station at last year s price because of a " slow price feed " hmmmm

A price feed that runs late by entire seconds is huge. It s surprising for a broker the size of Avafx. Can we say " incompetence " ? What about Forex pairs ? Were they affected ?

You can see now the problem a broker can have when they have to defend their side of the story. Avafx just admitted publicly that they did not detect the problem for months. Eggs in their face.

 

[ABDUL GHAFOOR]

Oil ? If only I could fill my tank at the gas station at last year s price because of a " slow price feed " hmmmm

A price feed that runs late by entire seconds is huge. It s surprising for a broker the size of Avafx. Can we say " incompetence " ? What about Forex pairs ? Were they affected ?

You can see now the problem a broker can have when they have to defend their side of the story. Avafx just admitted publicly that they did not detect the problem for months. Eggs in their face.

IF YOU SEE THE IMAGE THEY HAVE TAKEN FROM BLOOMBERG THEY DO EDITING IN IT.
NOT ONLY EGGS BUT BUSTED TOMATOES TOO .......

 

[MichelAnge21]

IF YOU SEE THE IMAGE THEY HAVE TAKEN FROM BLOOMBERG THEY DO EDITING IN IT.
NOT ONLY EGGS BUT BUSTED TOMATOES TOO .......

The date at the bottom is the date they accessed the report from Bloomberg. It s simply a clock on the Bloomberg website.

Are your cancelled trades only for oil or did you trade Forex pairs as well ?

 

[vincam]

AVAFX at all times aims to provide pure & 100% accurate price feeds - for optimal trading experience for all our clients.

AVAFX has received numerous awards for our unparalleled trade executions, transparency, and customer service.
We are constantly praised by our trading partners, money-mangers, and clients on our speed & level of execution, and low latency and trade rejections.

Periodically, throughout March & April - AVAFX had intermittent minor issues with one of our feed providers.
This resulted in isolated off-market or delayed prices displayed & executable on a select few instruments for specific very short periods of time (usually for a few seconds only).

While 99.99% of our traders were not affected by such minor issues, very few traders, either with or without automated machines tried to take advantage of such issues by selling a specific instrument if the true market price was lower than the price traded on our platform, or buying if the market price is higher.

According to AVAFX trading conditions - It is company policy to cancel or accordingly amend any trades in off-market prices. The policy is aimed specifically at traders looking to exploit these off-market prices.
These trades are cancelled regardless of whether the trade is profitable or loss making.

Mr. Ghafoor clearly tried to take advantage of these feed delays by entering trades in off-market prices for short periods of time - and closing again quickly making unreal profits with little to no-risk.
As per above AVAFX policy - These trades were consequently cancelled according to AVAFX policies & procedures.

AVAFX constantly monitors & reviews all our pricing feed engines to maximize traders experience and eliminate delayed or off-market prices.
These minor feed issues experienced in March & April have now been resolved between AVAFX technical support & AVA price distributors.

Moreover, Mr. Ghafoor received detailed explanation about his false trades, with clear proof from independent sources (i.e. Bloomberg) that the prices he traded were off-market.
We strive to be the first choice for all honest traders who are looking to profit from real market-movements, and last choice for traders who are looking to manipulate our systems by trading on unreal prices.

Regards,
Steven Freedman
VP Customer Care Department

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

Okay Ava, how about explanations for these?

From February, different instruments, same excuse and not in the "glitch window" you claim.

https://www.forexpeacearmy.com/forex-forum/guilty-verdicts/13815-guilty-case-2011-011-m4re-vs-www-avafx-com-7.html

More cancelled trades here on other instruments:

https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/15268-avafx-scam.html

And here:

https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/15091-avafx-scam-4.html

I could probably find more but these are recent. All with the same excuse "trading outside the market" Are these others in your top .01% of traders capable of exploiting your glitches?

You have stated that this most recent incident went on for two months. Two months before you noticed your feed was screwed up!! Are you joking? And you assume no liability for accepting orders on your platform from traders, with them putting their money at risk, and you having issues?

I want to point out Ava's conclusions about these traders and please decide for yourself what seems most likely.


Ava's stance:

These traders have written software and had the following knowledge to do the following:

1. Monitor Ava's back feed and front feed for who knows how long until a discrepancy was noticed.

2. Have the knowledge that Ava would not notice this for several months so it would be viable to attempt to exploit the glitch.

3. Have the knowledge that they would not get re quoted on opening these trades.

4. Have the knowledge that they would not have any problems closing these trades.

5. Have the (psychic?) knowledge that the price that finally did show up on the front platform would be beneficial. I say it must be psychic because with this advantage while you could see that maybe the price moved up in the back feed but not in the front, so you enter long, it is very possible by the time the feed did catch up it could have also moved back down.

6. Using this knowledge, have the software enter and exit trades exploiting these discrepancies.

After you have done all that and obtained all this knowledge instead of taking your super program to another broker that may not catch you, you come to the FPA and complain that they are ripping you off.

OR......

1. Ava is simply cancelling trades as they see fit, supplying traders with very little if any proof of their allegations of exploitation.


I'll let you decide which seems more likely.

 

[ABDUL GHAFOOR]

The date at the bottom is the date they accessed the report from Bloomberg. It s simply a clock on the Bloomberg website.

Are your cancelled trades only for oil or did you trade Forex pairs as well ?

i have traded ,oil,eur/jpy,gbp/usd,eur/usd,dax30, etc