Problems with AVA FX - Be Aware...

MichelAnge21

Sergeant
Stephanos

You are wrong about it being difficult. You are in Greece, within the European Union. With the MIFID agreement, it is quite easy for you to ask the Irish Regulatory Authority to intervene. Clients like Abdul outside EU face a much bigger problem than you.
But are you sure you used MT4 ? Their proprietary platform is Ava Trader and is from ActTrader.
 

Romeo

Sergeant
Take it as far as it goes!

My impession so far is that this company is doing that on purpose many times , especially to foreign customers. They know that it is very hard from somebody leaving abroad to continue chasing this matter and case. So they will do nothing , unless they will receive a subpoena. So far, i follow my advisors and wait for their official reply (if it will ever comme) and for the official timeframe to expire (another 3 days to go). After that this is what they will receive .
This broker is known to cheat clients in this way:mad:. There are many cases known already and I can imagine that there are many more than never went public, because the traders think they can do nothing about it.
Since your case is not concerning a few hundred dollars, you should fight to get your money back.
 

MichelAnge21

Sergeant
Stephanos

Your average trade would be over 2 million units for forex pairs.

I was wondering why on Earth you would trade forex with a market maker when you could easily go ECN like with Dukascopy and exchange those 1 million lots directly with banks with no spread and only minimal commission from Dukascopy. And with no fear of ever seeing your trades contested or cancelled.
 

Stephanos

Private
Dear all . First of all , i would like to thank you all for your advise , support and help! It is very important to know that some people do understand and do share my feelings that derive out of unfair and not ehtical and professional treatment.

Dear MichelAnge21, you got me wrong....my point was that "the company wrongly thinks" that foreign customers would quit because they would thing that it is too hard to chase the matter in order to find at the end of the day their right! I will definately not quit! And dear Romeo ...YES this is what i will do ! ie i'll take it up to the very end! This means that not only the regulator will be involved but also a specialised legal firm. ( To be quit honest i have already started the procedures...). So ..., let's see. It might take quit some time , but i'm convinced that at the end of the day ... i 'll find my right! In fact, it has been already scheduled that within the following days they will receive the first subpoena.
Finally , Michel you are right . I should have done what you are saying. But how on earth could i anticipate what the company was planning to do to me and how could i know that they generally behave so unprofessionaly. Of course now i know..... but it is already too late......On the other hand , in order to give a small excuse to myself for my initial choice, it would have been quite hard to find another institution offering a leverage of 400:1 , which was the thing that mostly influenced my initial choice. ( All the others were on the 200:1 max. leverage).
Last but not least , ava's proprietary platform is the so called " AVA META TRADER " , which is using the MT4 and for that reason the account is on the MT4. And yes, i'm sure that this is what i was using , since all my trades, statements and account are done and solely viewed on the MT4.
 

Romeo

Sergeant
Dear all . First of all , i would like to thank you all for your advise , support and help! It is very important to know that some people do understand and do share my feelings that derive out of unfair and not ehtical and professional treatment.

Dear MichelAnge21, you got me wrong....my point was that "the company wrongly thinks" that foreign customers would quit because they would thing that it is too hard to chase the matter in order to find at the end of the day their right! I will definately not quit! And dear Romeo ...YES this is what i will do ! ie i'll take it up to the very end! This means that not only the regulator will be involved but also a specialised legal firm. ( To be quit honest i have already started the procedures...). So ..., let's see. It might take quit some time , but i'm convinced that at the end of the day ... i 'll find my right! In fact, it has been already scheduled that within the following days they will receive the first subpoena.
Finally , Michel you are right . I should have done what you are saying. But how on earth could i anticipate what the company was planning to do to me and how could i know that they generally behave so unprofessionaly. Of course now i know..... but it is already too late......On the other hand , in order to give a small excuse to myself for my initial choice, it would have been quite hard to find another institution offering a leverage of 400:1 , which was the thing that mostly influenced my initial choice. ( All the others were on the 200:1 max. leverage).
Last but not least , ava's proprietary platform is the so called " AVA META TRADER " , which is using the MT4 and for that reason the account is on the MT4. And yes, i'm sure that this is what i was using , since all my trades, statements and account are done and solely viewed on the MT4.
I am glad to hear that you are taking this further. Please keep us informed.
 

Stephanos

Private
AVA FX is a 100% a scam !!!

AVA FX is a 100% a scam !!!
WARNING : avoid trading with them!!!

In the event that you will be lucky and will manage to make some profit out of your overall trades , DO NOT believe that they will allow you to get this money!

It is a "bucket shop broker" , accusing all profitable traders of being sculpers doing arbitrage. After several days or even months from the execution of your profitable trades, they will claim that all of these profitable trades have been executed in rates out of the market. Then after, they will proceed and will cancel those profitable trades without amending the trades that resulted in losses.

You can see my post on the 9th of June 2011 on the below link section:
"FPA Traders Court> Scam Alerts Folder> Problems with AVA FX - Be Aware... "

Regarding above case...,from that time (summer) , i have taken all necessary actions against them and according to my latest feedback it is expected that around the end of November / mid of December will have the decision which (as i have been told) will be a good lesson for them and will provide good grounds and valuable help to similar (EU citizen) victims.
 
Stephanos, any news about your case? Please, let us know as soon as possible.

PS
Whoever has been victim of Ava Fx with winning trades deleted, adjustments, refused withdrawal fund or accused of arbitrage price manipulation contact me in private or send an e-mail to theforexfraud at gmail.com
 

Stephanos

Private
update regarding my case with AVA FX the biggest scammers:

Hi my friends ,

I'm really sorry to hear that you (like me) , are also victims of AVA FX. I quess by now, we all know what crooks the people of ava are.

Regarding my case , after all this time , finally i received a letter from the irish authority " the Regulator" that they have started the investigation and have send a letter to AVA for explanation. They have 20 working days to respond ..., will keep you posted.

Meanwhile , how many more similar cases like ours , scummed from AVA FX have you gathered? I quess too many ..right?

Please let me know since , i can use them as a support document to the regulator, thus making everybody's case strongest, and finally manage to make AVA to stop the scumming to the innocent investors.

Awaiting your feedback...
best regards
Stephanos
 

Pharaoh

Colonel
This is starting to get interesting. Please keep the thread up to date and let everyone know how things develop.
 

dev1981

Recruit
Hi Stephanos & all the members

I was scammed the same way like you but was not aware about how to complain against them. I was trading with Avafx for 2 yrs & had wiped off my account twice. But this time i came across forexpeacearmy & read about your case today.

I was trading with Avafx MT 4 and having hedge positions in Silver as things didnt went in my way. I was coming out slowly but in October 2011 i found all my positions closed with out any margin call mail. When i asked them about the reason, they are always giving me excuse of will reply soon. Now 6 months are passed with same way.

After reading your case my eyes are open. Please suggest me what i should i do to file a case against them. I am from Dubai UAE.

Regards

Devendra




update regarding my case with AVA FX the biggest scammers:

Hi my friends ,

I'm really sorry to hear that you (like me) , are also victims of AVA FX. I quess by now, we all know what crooks the people of ava are.

Regarding my case , after all this time , finally i received a letter from the irish authority " the Regulator" that they have started the investigation and have send a letter to AVA for explanation. They have 20 working days to respond ..., will keep you posted.

Meanwhile , how many more similar cases like ours , scummed from AVA FX have you gathered? I quess too many ..right?

Please let me know since , i can use them as a support document to the regulator, thus making everybody's case strongest, and finally manage to make AVA to stop the scumming to the innocent investors.

Awaiting your feedback...
best regards
Stephanos
 
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