Problem Avatrade

[kimmy12]

the names of your account managers at Avatrade are in many cases fake names. I tried to sue them in Germany but the attorneys found out that the names of the persons working there do not exist. If you trade with an acount manager with a fake name you do have a big problem afterwards when you try to get your money back. German authorities try to find out where they are really and they told me that it is all a scam. I do have a letter where they write me that it is a scam company and that even the company does not exist. They also use fake identity cards and fake name people who found the company. Offical letter from german authorities !

 

[neticus]

the names of your account managers at Avatrade are in many cases fake names. I tried to sue them in Germany but the attorneys found out that the names of the persons working there do not exist. If you trade with an acount manager with a fake name you do have a big problem afterwards when you try to get your money back. German authorities try to find out where they are really and they told me that it is all a scam. I do have a letter where they write me that it is a scam company and that even the company does not exist. They also use fake identity cards and fake name people who found the company. Offical letter from german authorities !

that is very interesting! please post it here, so everyone can see the document !! Thank you!!

 

[PhilJones1611]

I can also confirm they use fake names. I've had emails from the same person with different last names.

 

[chitak]

the names of your account managers at Avatrade are in many cases fake names. I tried to sue them in Germany but the attorneys found out that the names of the persons working there do not exist. If you trade with an acount manager with a fake name you do have a big problem afterwards when you try to get your money back. German authorities try to find out where they are really and they told me that it is all a scam. I do have a letter where they write me that it is a scam company and that even the company does not exist. They also use fake identity cards and fake name people who found the company. Offical letter from german authorities !

I don't know about that. It seems very unlikely they will use all fake names, maybe some low level customer support would use fake names, but management I doubt it. They are regulated in Australia which I just checked, still active. Australia is a reputable regulator so I don't think they can use fake names and be a 'scam'. I am not commenting on the company other than to say it appears to be regulated. I have read of others complaining here on FPA about AVA, but the company is not labeled as scam here on the FPA.

I personally have no experience with them recently, used to have an account years ago, when it was called Ava forex if I'm not mistaken at the time. In any case I had traded and took my money out but that was years ago.

 

[4evermaat]

I don't know about that. It seems very unlikely they will use all fake names, maybe some low level customer support would use fake names, but management I doubt it. They are regulated in Australia which I just checked, still active. Australia is a reputable regulator so I don't think they can use fake names and be a 'scam'. I am not commenting on the company other than to say it appears to be regulated. I have read of others complaining here on FPA about AVA, but the company is not labeled as scam here on the FPA.

I personally have no experience with them recently, used to have an account years ago, when it was called Ava forex if I'm not mistaken at the time. In any case I had traded and took my money out but that was years ago.

You'd be surprised. The only thing this regulator does not do is actually visit the office that the compliance officer is located. For the most part compliance is based on an honor system after the initial setup of license, lol.

But to ASIC's credit, they pretty much shut down issuing new licenses for forex brokerages after the scam that saw some Australian and foreign nationals selling ASIC-looking licenses (shelf companies with AFS license already attached) that turned out to be fakes (usually a corporate doc, not an actual financial services license). And in some cases companies looking to buy out legitimate company, but only to get around having to start new application for AFS license.

https://financefeeds.com/australias...ry-bete-noire-is-retail-margin-trading-firms/

and

https://financefeeds.com/fail-disclose-plans-sell-fx-brokerage-asic-will-shut-company/

edit: they also do some electronic monitoring.

The people behind AvaTrade are of similar [Israeli] origin to the ones behind the typical Binary Options bucketshop. We all know how those turn out for the client. You really have to trust the people actually running the brokerge and not just rely on a nice website or even regulation. They target the uninformed and that is usually how they get away with it.

 

[kimmy12]

that is very interesting! please post it here, so everyone can see the document !! Thank you!!

Henning Rhein is one of the fake names

 

[oscarra]

...long time we noticed BaFin has absolutely no will to protect it’s consumers, however Commerzbank, DB the main players had been allowed to launder stolen funds since years, involving the most dirty Israeli Criminal Brokers….kind of choking in fact disgusting !

Ava Trade must have an office in Ireland as named directors, don’t understand why legal proceeding should be so complicated....of course names are fake, just like 24option and all the others, we sure have wonderfull regulators

…lately an 83 years old lady sued the famous crook Georgian Bank laundering funds for the usual gang, this had been done on a French provincial court, she won the case and recovered funds from an eu branch….so come on, wake up guys

 

[kimmy12]

...long time we noticed BaFin has absolutely no will to protect it’s consumers, however Commerzbank, DB the main players had been allowed to launder stolen funds since years, involving the most dirty Israeli Criminal Brokers….kind of choking in fact disgusting !

Ava Trade must have an office in Ireland as named directors, don’t understand why legal proceeding should be so complicated....of course names are fake, just like 24option and all the others, we sure have wonderfull regulators

…lately an 83 years old lady sued the famous crook Georgian Bank laundering funds for the usual gang, this had been done on a French provincial court, she won the case and recovered funds from an eu branch….so come on, wake up guys

Yes you are right. BaFin is doing nothing and in Germany is happening nothing, as well in the rest of Europe. It is because it is one big "we know each other". In Ireland also nothing is going on. Avatrade in Cyprus yust changed the name to Naga Markets and is now very active, esp. in Germany. We do not give up. People who know me do knoe that I never give up, so in the end there will be justice. Do you have invormation about the old lady ? Which case ? Thanks

 

[oscarra]

will follow up about this astonishing Lady later (indeed she had a very well-known lawyer)

kimmy, fact all account managers need to fill out specific requirements, even in Cyprus, having a fake profil as account manager sure leads to serious criminal failure, it should be absolute no problem to demonstrate such in front of whatever court, and recover all investment

Don’t think AvaTrade Ireland registered fake directors

…will try to get some more legal expert opinion to post here

 

[kevz65]

Why is the central BOI not on this company like a rash?
If this was a company like igindex or similar they would be fined massively.