AvaTrade is a broker for investing in the Forex market with a very comprehensive offer of CFDs. In this review, suppose you are concerned about the safety of your money and are looking for advice on AvaTrade: opinions or information on whether it is a scam or legit. In that case, we show that this broker has all the papers in order but has everything ready to ruin you through its AvaPartners.
AVATRADE is a company with many years in the online investment industry formed in 2006 by online trading experts and financial professionals but designed from the start to steal from the customer. It is a multinational company, reportedly headquartered in Dublin, Ireland, with branches in Madrid, Paris, Tokyo, Dublin, Milan, Sydney and other cities. But, for example, in Spain, we have found that there is no AVATRADE office in Madrid.
AvaTrade is a broker for investing in Forex, shares, cryptocurrencies, commodities and other assets without any guarantee of security, as it claims to be regulated by the Bank of Ireland, but the bank never responds to our complaints, and the CNMV sends us to complain to the Irish Ombudsman.
One of the first questions you may be asking yourself is whether AVATRADE is a scam, so we will be quick to confirm any suspicions you may have about it, confirming that AVATRADE BROKER IS A SCAM, FRAUD AND THEFT.
With AvaTrade broker, you can use some well-known platforms such as MetaTrader 4 and MetaTrader 5, available with most brokers in financial investments and trade with their particular proprietary software from the computer from any mobile device with Android or iOS operating system. But Viviana, who was previously an AvaPartner, left because she is a professional trader and did not want to steal from clients. Well, Viviana found out that every night at 21:30, AVATRADE was manipulating the clients’ accounts.
There is a section of educational resources for all those who need to accumulate basic or additional knowledge on how the different tools work, including guides and video tutorials for investors of all levels. Still, the purpose of all this is only for propaganda purposes.
Read on for our AVATRADE broker review and find out more about AvaTrade reviews and the features of their portal.
OUR EXPERIENCE WITH AVATRADE
The truth is that the experience of investing with AvaTrade is chaotic and presents many complications because AvaPartner calls you, and his mission is that you invest as much as possible and when you have invested all your money. Even in cases like mine, when they convinced me to ask for a loan, in a short time, they open deadly positions that make you lose all your capital, not respecting the ESMA rules that say that a private investor cannot lose more than 50% of his capital. AVATRADE is a platform where they have everything ready to rob you. And in other cases, the Avapartner takes your money to Chiringujitos Financieros, offering great benefits and then disappears. Avatrade does not denounce them because AVATRADE receives 80% of the thefts from its Partner.
There is plenty of room for improvement in the diversity of AvaTrade’s trading options, especially in the Forex and CFD offerings, as we have seen other online brokers have much more varied catalogues. As far as cryptocurrency trading is concerned, we have not noticed any notable difference from what can be found on other trading portals. Still, one piece of news speaks very badly of AVATRADE, and that is the CLOSURE TO ALL CLIENTS OF OPEN POSITIONS IN THE RIPPLE CRYPTOMONET when clients were earning.
A significant disadvantage of AvaTrade is its lack of reliability, despite being endorsed by the Central Bank of Ireland and the B.V.I. Financial Services Commission, among various other authorities.
Company: AVA Trade EU Ltd
Address: Five Lamps Place Amiens Street, Dublin 1 Ireland (the head office is in Israel)
Registration number: C53877
Telephone: 34 911876460 (I have received calls from this number also with a French prefix.
E-mail: [email protected]
Live chat: Yes (but you are answered by robots)
AVATRADE: FAKE OR RELIABLE?
The fact that AVATRADE is a broker with a lot of propaganda does not mean that it is trustworthy. We believe that we are dealing with a broker designed from its creation for theft, scam and fraud. And as we demonstrated in the BLACK HAT video, the whole scam is run from Israel.
First of all, we should take a look at the terms and conditions that regulate users’ dealings with the broker, where we are informed that the AVATRADE group is registered in the Virginia Islands, which is a tax haven and therefore, this already confirms the unseriousness of the AVATRADE broker.
Personal data are also commonly used tools by criminals involved in scams. Still, you have to know that AVATRADE broker does not comply with European privacy regulations, and your data will be circulating in financial scams all over the world. We have plenty of evidence of this.
Despite all the above, I cannot understand why the European authorities allow AVATRADE to operate legally in Europe. I have verified that the CNMV has given AVATRADE a favourable treatment, advising them by phone to write from their website that the AVAPARTNER programme is not applicable in Spain. The correct thing to do would be for the CNVM to publish this warning on its website and then in the BOE, but at the moment, they have not done so. On the other hand, the CNMV lost Viviana a complaint against AVATRADE filed by digital registration and Alberto Mario was told that he had to complain to the Irish ombudsman. We have evidence and phone recordings of all this.
AVATRADE claims to have a presence in five continents and also claims to be regulated globally but then does whatever AVATRADE wants, breaking all regulations, putting Avapartner to steal from you, giving bonuses to put more money in, putting leverage not allowed by regulators for individual investors and so on. A peculiarity of this broker is that it has the option of opening an Islamic trading account with which to operate in the financial markets following the principles of Islamic law or Shariah. Therefore, it is not surprising that the new board of AVATRADE includes several people from the United Arab Emirates.
As AVATRADE continues to use its Avapartners, we can say that it has not given up on stealing. If you sign up, you will get access to a wide range of underlying assets to invest in via CFDs through one of the seven different platforms offered by the broker.
There is even the possibility of incorporating APIs. The website is complemented with economic information of interest such as an economic calendar, a list of the next companies to pay dividends and some other information such as a stock market calculator to calculate all the details of your position before placing an order in the market. All this give the appearance that you are dealing with a legit broker, but in reality, as I said before, you are dealing with a broker designed to steal from you.
The AVATRADE broker focuses mainly on the possibility of investing in CFDs. More than 250 different underlying are available to you, although depending on which trading platform you choose, you will have access to more or less.
On several CFDs the level of leverage can be as high as 200:1. Spreads are very expensive, although we cannot give you a figure as their price varies according to the market for all underlying except gold, silver and crude oil. Contracts are rolled over on weekends (this is known as CFD rollover).
CFDs are available on stocks, indices, ETFs, commodities and even US, Japanese and European treasury bonds with leverage ratios of 100 to 1 for the latter. In each of the categories, there is a sufficient supply of options.
For example, among the equities, you have access to securities from exchanges such as the Spanish Stock Exchange, Wall Street, the Frankfurt Stock Exchange, the London Stock Exchange, Euronext Paris, the Tokyo Stock Exchange, the Mexican Stock Exchange, the Lisbon Stock Exchange or the Santiago de Chile Stock Exchange.
They don’t tell you that when they want to liquidate your account, they change the leverage.
AVATRADE trades CFDs and could well be included in the previous section. We believe that many users will be interested in knowing that you can invest in cryptocurrencies such as Bitcoin, Ethereum, Bitcoin cash, Littecoin, Monero, Neo, Iota, Zcash, etc. RIPPLE.
While for some people, cryptocurrencies are a fairly well-known investment object, for others, they may seem as incomprehensible as nuclear physics. Therefore, we are going to dedicate a few lines to the basic concepts and functioning of cryptocurrencies.
First of all, it should be clarified that these are virtual currencies that are not regulated in any way and therefore involve a higher level of risk, as they do not have the customer protection mechanisms such as deposit or investment guarantee funds, for example.
To control transactions with these virtual currencies, shared accounting records or blockchains are used, where each unit is encrypted with a unique cryptographic code that serves to identify it.
When someone buys or sells cryptocurrencies, it practically means that they exchange these codes that give them access to the information in the registry or blockchain corresponding to the units traded.
Forex is nothing more, and nothing less than an abbreviation for Foreign Exchange used to denote the foreign exchange market. It is a global market where currency pairs are bought and sold to speculate on the price and generate profits from the spread between the buying and selling prices.
These pairs are made up of two components: the primary currency, which is bought or sold. The investor obtains a certain amount of the secondary currency, which, in turn, is the second element of the pair.
According to AvaTrade reviews, their website is characterised by a vast range of Forex trading so that you can trade the most popular pairs such as EUR/USD, GBP/USD and USD/JPY, as well as many pairs categorised as exotic. But always keep in mind that all of these are designed to steal from the client.
We have been robbed and cheated by AVATRADE, therefore our opinion about AVATRADE is that it should be banned and all its managers should be imprisoned. In terms of security, we have found that there are NO SECURED ACCOUNTS, which allows us to affirm that AVATRADSE is a BIG SCAM.
On the other hand, we have the investment offer which is quite complete, with rates that allow you to invest in a large number of CFDs including some on cryptocurrencies. Possibilities that are complemented with different investment platforms, all of them with an apparent quality and a customer service available with robots which can not be worse.
The security guarantees given by the authorisation by renowned regulatory bodies on five continents and in seven jurisdictions are not a guarantee of any kind, as we have suffered a complete scam.
To conclude that AVATRADE is a big scam. That does not mean that we are finished with the analysis of this broker. We also have a lot to tell you about their website and its functionality.
The security conditions are non-existent, we have made that clear and this makes AVATRADE one of the family of unreliable brokers like Trade99, AnalystQ, etc., and they also have a lousy 24 hour customer support service which as I said before is provided by bots.
In case you want to prove that everything I say about AVATRADE is true (something we recommend you do, especially if you have little experience in trading risky assets), you can choose to create a free demo account and trade with a fictitious money balance. But be careful because in a short time you will be called by their AVAPARTNERS willing to switch to real money and rob you with their method of making you earn something, trusting you to invest more and then ruin all your capital and your life.
Taking into account the risk of falling for scams when trying unknown operators, choosing AVATRADE seems to us the worst alternative of all because it pretends to be a legal broker, but it is associated with financial chiringuitos that will most likely ruin your account and your life in the end.