Lumpen Reviews

Review for AvaTrade.com

Aba, Nigeria,
Aug 10, 2021,
Registered user

AVATRADE FRAUDULENT WITHDRAWAL PRACTICES

Service use: Live

Alex B (AvaTrade)

Jul 29, 2021, 10:24 GMT+3

Dear Chima J. Eneogwe,
Thank you for contacting AvaTrade.

Please accept my sincere apologies for the delay of the response.
As we do agree that the provided account statement, did act as proof that the funds were not received at a certain period of time, out Financial Department and Bank will now require a letter of non receipt, issued by your bank, in order for an official investigation to be opened in relation to locating the funds.
I would like to again mention, that the proof of payment is being provided from our bank and it cannot be forged in any way, as it will breach regulatory and financial rules.

My reply:
Hello is the above coming from a human being or a machine? I doubt if you know that you are in public eyes because if you do, you will be careful with this your reply that makes no sense.

Can you answer me this questions, can you successfully pay into account a foreign currency totally different from currency that the account is denominated?
Which economy or country is it practiced?

Which banking system provides you with letter as proof of receipt or transactions instead of a bank's statement of account.

Can you explain to me why you insisted on my using Bank Wire to get paid instead of usual credit card knowing quite well it's the means I credit my account with and it's not expired when your rules stipulated that money's are withdrawn via means deposited

Please if you don't have sense go and buy one, stop this nonsense argument it will lead you no where.
You are denying forgery of the proof of payment you sent to me when the bank you claimed to use have pointed out to me facts showing that it could not have immanated for them.
If you have any resemblance of integrity return my money.
Please when replying me, reply through Forex Peace Army cause this matter is in public eye.
Chima

Jul 21, 2021 - 1 Star ##
Your ticket # 701186 has been updated. To add additional comments, reply to this email.

Alex B (AvaTrade)

Jul 20, 2021, 10:00 GMT+3

Dear Chima J. Eneogwe,
Thank you for choosing AvaTrade.

This email is in regard to the post made on Forex Peace Army.
First of all, I would like to apologize for this inconvenience, frustration and experience.
After reviewing all of the conversations between yourself and our customer support department, it can be confirmed that proof of the payment for $170.00, has been issued twice by our bank and financial department. Please note that the proof of payment is being provided from our bank and it cannot be forged in any way, as it will breach regulatory and financial rules. Unfortunately, there are rare cases in which an authorized and executed transactions for some reason cannot be located by the recipient's bank.
Due to this, our customer support department has followed general procedures in which AvaTrade is required to first request and receive account statements, in order to show that the funds have indeed not been received by the recipient in a certain period of time.
Unfortunately, as the second proof of payment, did not assist your bank in locating the transaction, our financial department will need an official document, issued by your bank, confirming that the funds have not been received, this document can be presented as a letter of non receipt.
The letter of non receipt is necessary for our financial department and bank, in order to open an official investigation in regard to your funds. The letter of non receipt, as it is an official bank document, acts as a formal confirmation that a certain transaction has not been received. The confirmation is then being forwarded from our financial department to our bank, in order for them to investigate the case and locate the funds.
We are confident that once the letter of non receipt is presented, and out bank carries on an investigation, the funds will be located and received on your side.

Once again, I would like to apologize for the frustration and inconvenience and hope that once the official bank document is presented, the funds will be located in a timely matter.
If you have any additional questions, try our extensive list of Frequently Asked Questions page or contact our customer support team through Chat, email or phone.

Sincerely,
Alex B
The AvaTrade Team

My Reply:
Mr Alex B. Thanks for your intervention but you are only repeating what your colleagues has been saying for the last three months which is sad, you people are being clever by half.

I don't know which country you are replying from and your banking protocol and procedures.

Note that I deposited into my account with credit card why force me to withdraw via bank transfer if you don't have criminal intent.

Note that you asked me to forward my statement of account as prove of non receipt of my money, when I made it available two different times, you switched over to demand bank official letter which you are aware is not obtainable anywhere you finally are demanding for card statement shame on you people, please what is the difference between bank statement and card statement please stop insulting my sensibility.

Everywhere bank statement is officail and final evidence and I have provided it to you twice kindly come clean.

I still insist that you forged the proof of payment bearing Guaranty Trust and enquiry revealed that, every transcript of online payment always will show a boldly written inscription- payment successful.

My account with first bank is clearly a Dollar denomination account and you want to convince the whole world that you successfully paid Nigerian Naira into the account, funny people if it's possible in your village it's not possible here so please return my money to me without delay.

My bank have not seen any money and I have not as well if you don't know what to do recall the money but I am certain you will not take such steps because nothing was paid. what baffles me is that if you people can be greedy towards $170 that is to those who have larger sums are in trouble with you people. Get my money and have a nice day.

Jul 19, 2021 - 1 Star Everyone should be careful with opening account with Avatrade because they have perfected means which they use to defraud unsuspecting depositors. They even forge bank transfer documents and send it to you and ask you to go find your money which you definitely wont. I have a trading account with this Avatrade which I deposited $200 via my Mastercard. Against all Their manipulation, I made profit of $270, totalling $470. Now sometimes in April 2021 I made effort to withdraw my entire money, which they replied and said it's not permitted, I subsequently reduced same to $300 which they transferred to me via the same credit card I deposited the money with. Later I requested for my remaining amount of $170 this time they insisted on wire transfer of which I asked why they claimed policy, later I gave them my bank details, later they sent me a purported proof of payment via email and asked me to go to my bank and receive my money, I have gone severally to the bank and they told me no such Money was transferred to my account by avatrade or their agent, I have reached out to avatrade with my current statement of account signed by my bank which was what they were demanding initially, now they have changed their position asking me to get a letter from the bank stating that no such money was transferred. The question for the robbers at Avatrade is how do you prove bank transaction is it through Bank statement of account or through Letter. People please don't think it can't happen to you distance yourself from Avatrade.

Reply by AvaTrade CCare submitted Jul 20, 2021 Dear Lumpen,

We thank you for providing your details in order for us to locate your registration within our system.

We wish to highlight that we continue to assist via our Customer Service Team, and an integral part of being able to assist further is the provision of a letter of non-receipt issued by your bank.

We kindly request this letter, and will be in touch directly now via ticket 701186 to once again request the letter of non-receipt.

We look forward to assisting to resolve this for you.

Warm regards,
The AvaTrade Team

More. Community discussion of this issue >>

 
Reply by AvaTrade CCare submitted Aug 11, 2021:
Dear Lumpen,

We wish to highlight we maintain our position; we are not permitted to provide a bank statement as it will show sensitive information; data protection is something we adhere to strictly.

AvaTrade has explained on multiple occasions that the documents are provided by the bank, not by us and therefore there is no possible way of forgery; and as a highly regulated company, we follow all procedures strictly.

We also wish to highlight we send all transactions in once currency, for example USD, and then a recipient’s bank can convert the currency to the base currency the of the account.

Additionally, the standard proof we issue to all of our clients when required for any reason, for confirming that a payment is made, is a proof of payment document/letter issued by our bank, or ARN codes for CC withdrawals; we have never offered bank statements as proof of withdraw, and cannot due to data protection mentioned above.

For any questions please do not hesitate to contact us.

Warm regards,

The AvaTrade Team