AvaTrade – Is it scam or safe?

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AvaTrade – Is it scam or safe?

AvaTrade is licensed in several countries and is regulated by the relevant financial. Licenses allow it to conduct financial services, including forex.

However, there are some publications in forex forums that inform about bad practices related to intentional spread-widening, poor customer support, vain promises of bonuses and slow processing of deposits and withdrawals.

So far, we haven’t received any complaints from clients of AvaTrade.com.

If you feel frustrated by AvaTrade.com and have something to share with us, please fill in the form below, describing your case:

7 Complains

  1. I am very disappointed. Still the problem with my loss is not resolved. This happened due to their faulty mobile application. Three month have been passed since then and they continue to ignore me. I should go to soe financial authorities hoping they would help me.

  2. Now I realize I am one of the many who didn’t succeed to withdraw my money from Avatrade! I have traded for some years with them. I won about $900 and then receives a strange email from Avatrade: your withdrawal request cannot be filled now. For more information contact your personal manager. Keep in mind your trading amount hasn’t reached the required minimum for your bonus. Your account doesn’t have sufficient funds and you must cancel this withdrawal request. Stay away !

  3. Avatrade blocked my account due to some regulatory reasons without any notice. This led to a margin call and a loss of nearly 5,000 euros. Their support was useless and looks ridiculous. They didn’t try to help and just gave me empty promses. In the end: AVOID AVATRADE! They don’t care!

  4. Three weeks ago, I got an email that all Belgium accounts will be closed and funds will be send back. This is done because of some new regulation rules. OK. My account is closed but I still wait for my money. This broker shows you everything is good but in words only.

  5. I deposited my account with AvaTrde a few weeks ago and wanted to try the platform and to get a bonus. Well, this bonus didn’t come to me, although I called them several times and I had already started trading. This was suspicious and mad a research or their bad practices. What I found was Avatrde didn’t have an authorization to offer its services in Quebeck and they should not allow any residents to trade with them. I contacted them several times but they didn’t answer me. So, I think their business here is illegal and they refused to send my money back. Do not deal with them!

  6. My hopes were so high and in the end AvaTrade lied to me. Initially I was happy they accepted Canadian dollars for funding my account, which is rare. I invested in crypto currencies as together with my friends we developed algorithmic trading software intended to be used by retail investors. I tested Avatrade with this software and all was ok, so I deposited more than 100k. Initially everything was fine, their quotes were OK regardless of somehow wider spreads. Before the bitcoin split I emailed Avatrade and asked what their actions would be if this happened but they didn’t respond me. The next day I tried to login to my account but I couldn’t – it gave me it doesn’t exist. This was extremely weird because I still could make deals with my MT4. I tried to contact them and finally succeeded, after I was left to wait more than five minutes. Then I realized my necessary margin was almost doubled without any notice and I decided to close all positions. I wanted to end with them and requested a withdrawal and they assured me there were no fees. One week later nothing happened. I contacted them and they had refused my payment because they could only send money to the card I deposited with. Moreover, I had to give up my bonus…they never told me this. However, my card doesn’t accept US dollars and my money was stuck. I do not recommend this broker!

  7. I received a notification that Avatrade changes the minimum size of contracts of DowJones and FTSE100 futures. All open position will be closed automatically on 11 August at 9 pm. Now I am suffering a loss of nearly USD3,000 and it will become real if they close my position. I think this is not legal and I hope they won’t do this!!

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