GUILTY Case# 2011-011 | m4re vs www.avafx.com

[vincam]

It will go to a vote from here for members to vote on AVA's guilt, hopefully at that point they will be a little more responsive to you, hopefully...

 

[claretblue]

Ava Capital Markets Ltd claims to be regulated by the Central Bank of Ireland - License Number C53877. Shouldn't this be the first port of call?

 

[AvaFX Support Team]

The Ava Trading Practices team will only consider canceling profits on positions which were intentionally opened outside market rates and where there is clear pattern of the trader exploiting price delays.

Ava is proud to have thousands of customers trading on our platform – testimony to the quality of our service – and it is only on very rare occasions that our Trading Practices team will look to disqualify a trader.
We are clearly not looking for the trader who may have innocently opened a position outside market rates – but for cases where a clear pattern of unfair trading can be identified.

Ava Customer Support

 

[Teodor Jackson]

The Ava Trading Practices team will only consider canceling profits on positions which were intentionally opened outside market rates and where there is clear pattern of the trader exploiting price delays.

Ava is proud to have thousands of customers trading on our platform – testimony to the quality of our service – and it is only on very rare occasions that our Trading Practices team will look to disqualify a trader.
We are clearly not looking for the trader who may have innocently opened a position outside market rates – but for cases where a clear pattern of unfair trading can be identified.

Ava Customer Support

And?

How did you come this particular trader had exploited your flaws intentionally?
Can you show us how did you connect the dots?
And where are the dots you detectives found?

 

[Geert Anthonis]

Scary stuff that

After having dropped FXCM because it was impossible to make profits there and not such interesting results at Liteforex I returned to AVAFx because they have been good to me. With personal phone calls and a lot of advice. I did find though that once I told them I was not interested in depositing 5000 Euro in my account to take advantage of their special offer nor in their Tradency account they stopped calling me. I have lately made small gains on my AVA account which runs through their proprietary AVAtrader software and am now wondering if I will be able to withdraw more than my initial deposits.

While on the subject of AVAfx. AVAtrader has its own EA. I have tried out some strategies there. For some reason I found I could set it up so I always made a profit while I did backtracking test. However once I wanted to implement my strategy I kept getting error messages. In the test I was able to set a 4 pips stop but once you run the actual strategy the minimum distance for a stop has to be 8 pips for the EUR/USD pair. When talking to the helpdesk I was told it would be impossible to set a 4 pips stop even when I just ran a test on a strategy. So I told them to try it and low and behold they came to the same conclusion. They would solve the problem and make sure that even in the test a 4 pips stop was not possible. That was about one month ago. I talked about it about one week ago and they told me they were still working on the problem. Once it was solve they would get back to me. I do smell something fishy coming on. Now that I start to make money they might use that against me in future.

All this now has me really worried and I look forward to see how AVAf solves this problem. Because their line of reasoning in this case hold no water. Fabiano is right. How can he know that the prices quoted are not the prices at the moment he places the order? It is not his fault that AVAfx servers can not keep up with the market or the orders placed.

 

[RahmanSL]

I am bemused by AvaFX Support Team feeble attempt to cover their Broker's incompetency and quite obvious shady modus operanti not to pay client's money.

"..profits on positions which were intentionally opened outside market rates and where there is clear pattern of the trader exploiting price delays".

How the hell do you manipulate the broker's trading platform to trade outside market rates???

Whenever I use Broadband for trading forex, one of my Live Broker's trading platform either does not get connected or takes hours to do so (while my other Live Brokers do not have that problem), and when I do get connected I get huge "time lag" on market price.

I used one or more of my other Live Broker's trading platform for market feed and would simultaneously enter similar trade(s) on the problematic Broker's trading platform. However, this broker would always have a popped up message asking whether I would accept the price at a different price as what's shown on their "time lag" platform and I would accept that if it correspond with the price on my other Broker's platform.

So, AvaFX Support Team, if I carried out those trades on my problematic Broker's platform on AvaFX's platform, would that be considered trading outside of market rates (as shown AvaFX's platform)???

 

[vincam]

The Ava Trading Practices team will only consider canceling profits on positions which were intentionally opened outside market rates and where there is clear pattern of the trader exploiting price delays.

Ava is proud to have thousands of customers trading on our platform – testimony to the quality of our service – and it is only on very rare occasions that our Trading Practices team will look to disqualify a trader.
We are clearly not looking for the trader who may have innocently opened a position outside market rates – but for cases where a clear pattern of unfair trading can be identified.

Ava Customer Support

Uh, I don't see the clear pattern here. Your team supplied him with two examples. That is an established pattern? What you have basically told him is, look here is two times it happened that our server was crazy slow and you traded during this time. We quoted you a price but you weren't supposed to use that price because it was not the "real" price (don't you know?), we just could not update our system to reality fast enough. For that your punishment is the cancellation of all trades you made including ones that could not possibly have taken advantage of our 14.4k modem connection to our server. Our team says you cheated, so there. Now my real question is where did all those profits that he made go when you canceled his trades from many weeks before? I don't buy it Ava, two examples is not a pattern, it's barely coincidence.

 

[Teodor Jackson]

(...) AVAtrader has its own EA (...)

I'd be very reluctant to use any broker EA.
It's like a cat offering a mouse a ride ;-)

 

[AsstModerator]

Unlike some companies, AvaFx is communicating about this issue. I'm going to give them a little more time to clarify things.

 

[Onyebuchim C. Obike]

Unlike some companies, AvaFx is communicating about this issue. I'm going to give them a little more time to clarify things.

I quite agree with you.

But the fact remains that AvaFX should be held responsible for their server glitches. The customer from the evidence never used any utility to fool or bypass the server feeds to take advantage of it so why hold the customer responsible?

If you leave your doors open knowingly or unknowingly then expect anything to come in.