Ava Trade – Scam or Service?
There is no gainsaying that online brokers are instrumental in purchasing financial instruments. Their skill and expertise can facilitate brilliant investment plans between the buyer and seller, working in their clients’ best interest. While there are many online broker sites, a sizable number of them are fraudsters that have chosen to abuse the anonymity that the internet provides. In their efforts to lure people into duping them, these fake online brokers have brought unspeakable hardship to their victims’ lives.
So, how do you tell if an online broker is legitimate or otherwise? And is Ava Trade legit or not?
|Regulation||MiFID – Europe
|Product Types||Forex, CFDs, Currencies and Indices|
|Products Offered||More than 1250 assets to Trade|
Ava Trade: An Overview
Ava Trade is an online broker said to be founded in 2006 and headquartered in Dublin, Ireland. Ava trade claims to be regulated in three tier-one, three tier-2, and three tier-3 jurisdictions; however, it is not publicly traded and does not operate a bank. This broker claims to offer trading services such as forex, currency pairs, contract for difference (CFDs), social trading, and cryptocurrency treated as CFD.
This service boasts awarding high bonuses to new clients; however, clauses and requirement claims are insensitive and downright outrageous. Ava Trade has a minimum deposit amount of $100, which falls under the average charge, but payment must be $1000 or higher to attract bonuses. Your bonus will immediately be credited to your account. You are still barred from withdrawing until you have executed a minimum trading volume of 10,000 base currency for every one base currency within six months. Bonuses will be reverted if you are unable to fulfil these requirements within the stipulated time.
Payments made via specific platforms do not qualify for bonuses such as Skrill and Neteller, prominent digital wallets, and investors’ top favourites.
Also, Ava Trade holds the right to cancel, withhold, or reject bonuses at will, which may amount to a breach of contract.
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Are there Ava Trade forex scams?
Ava Trade poses a trustworthy and top-ranking broker site; however, there are many areas where they lack, or some may say, incompetent, for such a high reputation broker site.
New clients can explore the webpage in no time; however, they may be unable to make any trading until they pass the compliance test, which may take up to several days or weeks, dependent on each client’s situation. This is a significant shortcoming of this broker, compared to many of its contemporaries that grant first-timers immediate access to trade. Ava Trade does not have a Virtual Private Server (VPS). VPS is used by online brokers to manage their dedicated servers remotely effectively and is advised to reduce loss risks during short power outages.
This broker offers sixteen commodities, which is significantly lower than its contemporaries, and even more significantly low stocks totalling at just ninety-nine. Ava Trade reviews have shown that more than seventy per cent of investors lose money when trading CFDs with this broker; this is a significantly high number of losses that suggest steering clear of this Ava Trade scam.
Ava trade Forex Scams Warning Signs
Ava Trade lays down insensitive and ridiculous bonus requirement claims, which may be strenuous to meet, resulting in losses. Like many fraudster brokers, bonuses are tools to lure new investors, promising high winnings, and free money. However, the conditions that come with these false promises are usually stringent and sometimes impossible to meet, leading to forfeiture.
This broker has one thousand instruments, sixteen commodities, and ninety-nine stocks, which are all significantly low compared to its contemporaries, that provide well over two thousand tools, twenty-five commodities, and one thousand, five hundred stores. The best brokers should offer a vast amount of trading options such that investors can compare and contrast to make informed decisions.
Reports have shown a risk warning of a seventy-nine per cent loss when trading CFDs with Ava Trade. This percentage is well above average and suggests that profit-oriented investors should avoid this broker site as their losses may well be more than their winnings.
Ava Trade receives payments via credit cards, VISA, MasterCard, bank transfer, electronic wallets (eWallets), PayPal, Neteller, WebMoney, Payoneer, with the exclusion of Skrill. Skrill is one of the most common online payment platforms because of its accessibility, fair pricing, and high security. There is no worthy justification for Ava Trade to exempt Skrill’s top-notch online services as it is a top favourite among high-ranking, legitimate online brokers.
Spotting a scam broker:
Here are some of the signs to look out for in online brokers to avoid falling victim to dubious tactics.
- The broker makes unapproved withdrawals from investor accounts
- Clients are unable to access customer care agents – little to no medium for customer service
- Unwarranted blocking of investor accounts
- The customer care agents become inaccessible after an investor makes deposits
- Customer service is unresponsive following requests for withdrawals
- A high number of negative customer reviews
- The broker company provides inadequate security measures or installations – opens clients up to multiple financial risks
How can Trader Defender help?
Tradedefender is dedicated to putting an end to dishonest and fraudulent brokers that try to con innocent investors. If Ava Trade has defrauded you, Tradedefender and its team of legal experts can help with representation and professional consultation to develop a plan to reclaim losses. You can schedule a consultation period by visiting the Tradedefender site in due time to report the scam.
Tradedefender is warning forex traders or investors to refrain or tread with caution when working with this suspicious and unsafe broker site. Ava Trade lures clients to make sizable deposits with false promises of high bonuses, then mandates strict terms and conditions before they are allowed to withdraw. Clients are subjected to strict and insensitive terms, which may discourage or frustrate them. In some cases, investors are denied their bonuses after meeting all the stipulated requirements and adhered to the clauses. No VPS, false promises, and significant losses are all that this broker site is about. It is most likely that Ava Trade is a scam.