Review of AvaTrade Broker: Professional Opinion
Before you is the company AvaTrade, based in Dublin – the capital of Ireland. Let’s start our research to find out what lies behind the name of this broker. Let’s find out if it’s worth dealing with AvaTrade and what lies behind the proposal of fairy-tale profits or scary stories of scammers.
Information about AvaTrade
In the distant year of 2006, AvaTrade was established, originally known as AvaFX. The company from Ireland specializes in trading in the Forex and CFD markets. The broker’s office is located in Dublin.
AvaTrade offers clients the opportunity to trade various assets: cryptocurrencies (including Bitcoin), indices, securities, stocks, and bonds. According to the broker’s information, it has over 200,000 open accounts (it is unknown how many of them are active).
For beginners, the option to open a demo account is offered, as well as the opportunity to start real trading. AvaTrade is legally supervised by four regulators, including ASIC, BVI FSC, CBI, and FSCA. The broker is not listed on the stock exchange. To open an account, a minimum deposit of $100 and a leverage of 1:30 are required. Various methods are provided for deposit and withdrawal, but some of them are not very popular.
Among the toolkit offered by the broker, you will find platforms such as MetaTrader 4 and MetaTrader 5 (including their mobile versions for Android and iOS), as well as ActTrader, Proprietary, and Zulutrade. Trades are executed through the Dealing Desk and Marker Maker, with no commissions and fixed spreads.
Complaints about AvaTrade
Many Russian-speaking clients claim that AvaTrade is an example of a “kitchen” and fraud. The abundance of negative reviews raises suspicions that the broker may have been “ordered.” Some clients reveal a scheme of fraud associated with an analyst named Artem Volkov. Users claim that the broker’s representative encourages depositing funds and then “drains” the trades and deposits.
- He persistently convinces clients of his experience and suggests depositing funds.
- Then, he executes trades that lead to clients’ losses.
Despite the bonuses and a variety of services offered, with prolonged cooperation, difficulties and the risk of financial losses arise. AvaTrade may be reliable for beginners, but when significant success is achieved, one should beware of possible problems and deposit losses.
Official AvaTrade Website
Visiting the company’s website avatrade.ru can evoke mixed feelings. The site seems to unexpectedly welcome visitors, offering bonuses, even though they have just entered the page. It seems unusual. The website page is presented quite simply, built on a basic engine, with sections on education, Forex, and CFD.
Platforms available on the site:
- MetaTrader 4 (MT4)
- MetaTrader for Mac
- MetaTrader for mobile trading
- AvaTradeAct proprietary platform for trading in the Forex and CFD markets
Conclusion
Our conclusion is clear – AvaTrade is not recommended. Despite the experience and wide audience, this broker poses a risk to Russian-speaking clients. Questionable actions of analysts, difficulties with fund withdrawals, and technical support leave much to be desired. For stable and reliable earnings, it is better to find another broker.
