Is AvaTrade a scam broker?
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AvaTrade is one of the oldest online brokers and was founded in 2006 and is a part of Ava Group of Companies. They have offices in Europe, Australia, New Zealand, Africa, Asia, Middle East, and North America.
They have 250+ assets comprising of forex, cryptocurrencies, stocks, commodities, and indices. They have a web-based trading platform Metatrader 4 and Ava TradeGo which runs on the desktop, tablet, and mobile. Clients funds are kept in a segregated account for increase security and as required by law. They are regulated in Australia, Europe, British Virgin Islands, Japan and South Africa.
They have 200,000 registered traders around the globe with more than 2 million trades every month. They have made a far-reaching and drastic change in online trading by providing user-oriented, reliable training environment which is built on the most advanced trading platform. They have a demo account. They are among the first forex brokers who have introduced CFD trading on commodities, stocks, and indices.
Trading platforms an offer MetaTrader 4, automated trading, mobile trading, web trading, AvaOptions, AvaTradeGo and Mac trading. For safe and comfortable trading experience AvaTrade provides Autochartist, trading conditions on premiums, spreads, lot size and trading hours along with CFD roll over. Advance and conditional orders can be set up to protect your trades. They also have an Islamic account.
AvaTrade has been conferred with numerous awards which confirm their leading position and service quality they offer. They have won Best Forex Broker by Forex traders 3 times, Bitcoin award, Excellence Award, Best Affiliation award, Best Alert System award, etc just to name a few.
To help new traders they have videos for educating on fundamentals and technical analysis, news, the e-reading material on different aspects of trading. Trading tools are Economic Calendar, Trading Platforms, and Calculators.
Let us see reviews from different authors to judge if AvaTrades is a scam broker or not. One of the authors on a reputed site says that AvaTrade has closed trader’s positions in cryptocurrencies without notification and consent which the author feels is illegal and they should be shut down, Furthermore, he also has an issue that calls and emails are not answered plus the chat is not working. Withdrawals are next to impossible he claims and one gets many excuses from the company while withdrawal.
One of the authors deposited money and it is not showing on his accounts. He showed all the required documents that he has transferred funds from his bank, emailed the company number of times, but even after 3 months funds are not showing in broker’s account.
If you have been a scam victim of any online company, binary options, crypto currency scam you can take help of MyChargeBack to retrieve your money. In many parts of the world, there are no or very few restrictions on brokers and the protection level of the client also decreases. There are many scammers who set-up virtually same looking website to scam innocent people from small unknown countries where laws are not too stringent like in Bulgaria, Israel, Latin America etc. Major forex market and financial centers are setups in different regions of the world. They are located in New York, London, Frankfurt, Tokyo, Hong Kong, Zurich, Paris, Singapore, Sydney, and Tel Aviv. There are few countries in the world which have fully or partially banned binary options trades because of increasing number of frauds being committed.