Up
Rating
Forex Broker
0
经纪商
0
综述

AvaTrade freezes clients` funds

Along with the growth of the brokerage market, the number of so-called bucket shops, Ponzi schemes, and fraudsters is increasing. One of the biggest risks which can be taken by a trader is cooperation with a dubious company. In this case, a trader may have difficulties in withdrawing funds. Contact with the support service does not always help in trouble and it seems that the money is lost.

AvaTrade is an international broker which has representative offices in Paris, Dublin, Milan, Tokyo, Sydney, and Shanghai. The company has been operating in the market since 2006, and is officially registered in Ireland. As it should be, the main website contains the detailed information on the company's achievements and advantages. Independent sources refer to a large number of instruments available for trading as advantages, while they consider spread and leverage (400:1) to be the company's disadvantages. There are other opinions on this subject as well.

Advantages of AvaTrade:

  • regulated by ASIC, MiFID

Disadvantages of AvaTrade:

  • difficulties in opening an account
  • few options to deposit/withdraw funds
  • additional fee for inactive accounts
  • the broker does not provide services to US citizens

On the world scale, AvaTrade has proven itself to be a reliable and secure partner. More than 200 thousand traders keep their accounts here and the company's total trade turnover exceeds $60 billion per month. The statistics are impressive, although the fact that AvaTrade is not popular in the post-Soviet area raises questions. Nevertheless, it has good ratings.

AvaTrade presents itself as a reliable, stable, and time-proven broker. It seems to provide a safe environment for trading. However, constant complaints from traders suggest otherwise. Most negative reviews are about problems with the withdrawal.

In this way, customers show their discontent with the company's tricks, blaming it for fraud. Besides, they try to warn other traders about possible difficulties.

For example, a trader told that the withdrawal of his funds was delayed due to some problems with verification. All his requests have been neglected.

Withdrawal of funds from AvaTrade is not available to me. Verification is required. However, my manager said that I had successfully passed the procedure. Besides, they closed some of my positions. Feedback indicated that other users faced such problems. So, I do not recommend this broker.

Besides, negative feedback can be found from VIP clients. It is hardly necessary to explain the meaning of this “VIP” abbreviation. A special category of traders, large investors, requires more considerate and attentive service. Oddly enough, the broker does not care even about VIP clients. One of them lost $7,000.

In April, a group of analysts from the IFG group, a partner of AvaTrade, made me an interesting offer. They invited me to trade with this broker using their trading signals. In May, I deposited $1,000. As they promised, the monthly results showed a good profit. Then I was offered to increase the deposit to $10,000 and become a VIP client. They promised I would continue to conduct risk-free trading with good profit on condition of sharing it with them. In good faith I collected the required amount (I got a short-term loan at a high interest rate). In June, I began to work as a VIP client. In the same month, I managed to withdraw $3,000 and in early July, I completely lost my deposit. After this incident, I can't contact them.

There are a lot of traders who have lost rather large sums. The losses amounting to 5,000, 7,000, and 4,000 are common.

Another user mentioned the case when money had been debited from the account of Ava Trade but had not been credited to the trader’s wallet. He incurred a loss of 4,000 euros.

Apparently, traders are impressed by the fact that AvaTrade is also regulated by the Central Bank of Ireland. In their opinion, this is one of the reasons to trust the broker. Another review is also about troubled withdrawing. An author reported on unpaid funds to affiliates for referring new customers. The dealer suffered a loss of 7,000. However, it is not clear what currency is meant.

AvaFX licensed by Ireland is awesome! But there's still the fact that they do not pay 7K to its affiliates.

Traders leave a lot of negative comments on forums pointing out that the broker freezes client’s funds. The fact is also confirmed by those who, in general, are positively disposed to AvaTrade.

I had an experience of trading with this broker. In general, everything is good: a few types of accounts to choose from, instant opening of deals, no slippage, instant closing of deals at a reasonable price. But the withdrawal of funds within five days is too long, so I had to change the broker.

Advantages:

  • instant execution
  • no slippage

Disadvantages:

  • withdrawal within five days

Indeed, AvaTrade is a large company that has been operating in the market for more than 10 years. However, the problems regarding the main trading conditions have not been resolved. For example:

  • The online chat is available only on trading days. On weekends, a trader can contact the support service and get an answer not earlier than Monday.
  • Traders complain about Popunder which appears when you need to switch to another page or close it.
  • The broker promises a welcome bonus which equals 40% of a deposit. In fact, the broker does not credit more than 20%..
  • The Frequently Asked Questions section (FAQ) is not translated into Russian, so Russian-speaking clients have to ask questions using the chat.
  • A demo account is available only for 21 days that is not enough for testing and learning the platform.

I do not recommend traders work with this broker, it is an ordinary bucket shop. Almost a month ago, I opened an account and wanted to deposit it using a bank card. The amount of $1,000 was debited but was not credited. With great difficulty, I contact its support service. The third time I get the same answer: "Make sure that the payment documents have been filled in correctly." I have sent a copy of the card transaction receipt, everything is correct, but the answer is the same. Last week, they stopped replying to emails. The money has not been credited yet to the trading account. I think I will never see it again.

Conclusion. There are a lot of articles on the Internet with recommendations on choosing a forex broker. Such web resources often carry advertisements - indirect or public. It happens that negative facts are concealed, while positive ones are highlighted.

Only experience of other traders will help to understand whether the broker’s conditions are profitable. So, be careful when studying them, pay attention to the source and date of publication.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author: Deziere | 日期 of  2019-12-05
I traded at AvaTrade for a year and it wasn't the most pleasant experience I had. Their support team is not available during the weekends and they are hard to reach during trading days; so whenever I encounter a problem, it is not addressed until after a few days. Their platform is also not as stable as they claim it is. It was never able to handle news announcement and still lags even during calm market condition. I only lasted for a year because they kept delaying my withdrawal which in the end they never released.
0
0
Author: Harry | 日期 of  2019-11-29
AvaTrade put all their clients' trust to waste. This broker has a good reputation in our area. I don't know the statistics but most of the people I know are choosing to trade at AvaTrade. That is why I know that a lot of people trust them. To be fair, for the past two years, I didn't really have much problems while trading. There were just a few times that the withdrawal of my fund was delayed but I still receive it in the end. However this time, I don't think any of us would be able to retrieve anything because the company won't answer us.
0
0
Author: Reechul | 日期 of  2019-11-19
AvaTrade used to receive a lot of positive feedback from its users. Even in the forums that I participate in, AvaTrade is often commended. This is also the reason I decided to choose this broker among the many other ones. At first, my trading experience was going well. However. after a few months, I noticed that the platform became a little shaky and orders were often not executed properly. I started to lose a huge amount during that time and I reported it to the company but I was ignored. Then after a few more months, I was no longer able to log in to my account then I found out that all funds were frozen.
0
0
Author: Onew | 日期 of  2019-11-14
I was a trader at AvaTrade for almost two years and this is the first time I that this happened. I have experienced a delay in the withdrawal of my fund but they never froze out accounts. That is why I was so confused when I couldn't log in to my account. What's worse is that there is no assurance from the company that the problem would be fixed soon. Right now, I am already losing hope that I would still be able to retrieve my funds.
1
-1
Author: Jivrex | 日期 of  2019-11-06
I am still a little lost about what happened to my funds. AvaTrader being inaccessible was very sudden. I remember talking with my account manager just a few days before I lost access to my account and the talk was normal. I did not feel anything wrong or hinted that they could be gone anytime. I also did not notice any changes in my trading experience. The platform worked just as it normally does. That is why I really don't understand what happened to the broker. Should I already let go of the hope of retrieving my money?
2
0
Author: Urisa | 日期 of  2019-10-30
Should I stop hoping that I could still retrieve my fund from AvaTrade? I honestly still can't digest the fact that they could have run away with our funds because AvaTrade is one of the most reliable brokers that I know. They have good reputation, which is why I opened an account with them in the first place. But I am having doubts now since it has been so long since I had last access to my account. The broker doesn't respond to my messages as well.
0
0
Author: Surio | 日期 of  2019-10-21
Who would have thought that even such a trusted broker would also end up deceiving their clients? AvaTrade is one of the most popular and reputable brokers in our country. It is known for providing great services and for being honest. This is the main reason I took the risk and invested at this broker. I traded the major currencies and earned reasonable amounts. Indeed, the experience was pleasant. But why did the broker freeze our accounts? It is frustrating because we are not hearing anything from them. Not a single update to reassure us.
0
0
Author: Narveka | 日期 of  2019-10-17
When I opened an account at AvaTrade, I already had a bit of difficulty. There are some confusing parts even when I was already assisted by a representative. But I still pushed through opening an account because I heard quite a number of good feedback about this broker and they also seem to be popular. Payment methods were quite limited but I didn't mind as the method I prefer is available. Trading experience was productive. The platform performed averagely. It was only recently that the freezing of funds emerged. I also don't understand why that is but until now, I still can't get a hold of my money.
0
0
Author: Dasheil | 日期 of  2019-10-08
What happened to AvaTrade was totally unexpected. I have traded at this broker for almost a year and my experience was pleasant. The platform was stable, trading cost was reasonable, customer support was dependable, and other features were great. One wouldn't have imagined that the clients would suddenly lose access to their accounts and that their funds would be put on hold. I hope, things get better on this broker and that I could retrieve my fund.
0
0
Author: Lilou | 日期 of  2019-10-03
I wonder if there is still hope to access again our accounts at AvaTrade. Do you guys think it's possible? It has been months since I last opened my account and I still have around $8000 there. I worked hard to earn that much. I never thought I would have this kind of experience at AvaTrade because they have always been honest and reliable. Right now, I am just hoping that whatever happened with the broker, they fix it soon and return our funds.
0
0
Show more

添加评论
文本:
Brokers Reviews

推荐外汇经纪商
FOREX BROKER №1 IN ASIA
30% bonus for EACH deposit
Leverage 1:1000

Forex charts and quotes





特价优惠
开始零投资零风险交易
使用$1000美元全新启动赠金
获取赠金
55%
在InstaForex
每次存款多得
Earn up to
$50000
for inviting friends to get StartUp Bonus from InstaForex
No investments required!