The AvaTrade scam has led to a pile of reports and concerns coming from investors globally. However, the real question that crops up in all our minds is whether AvaTrade is genuinely a scam or not.
With the years of experience and expertise that the firm carries, it holds a high reputation in the marketplace. It is indeed hard to believe that a notable firm would render such a nuisance. But, contradictorily, neither can we neglect the pleas coming from an innocent. So, how do we determine its honesty?
Well, that’s not too complex!
Financial Fund Recovery understands the adversity of the situation. Further, our competent research team consisting of the best investigators has studied the case thoroughly. As a result, we feature the critical elements about AvaTrade to verify and conclude its legitimacy. Moreover, this can help investors and market newcomers learn about some essential details.
IN THIS ARTICLE
What is an AvaTrade Scam?
AvaTrade is a popular name for an online trading platform with 13+ years in the industry. The enterprise dwells in Dublin, Ireland. Further, it’s spread across Australia, Europe, Japan, South Africa, and the British Virgin Islands.
The broker is regulated and facilitates a diverse range of assets without any limitations. Although it’s well-known as a forex broker, it grants other assets such as cryptocurrencies, bonds, stocks, and futures. Its brand name within the market and proficient services bring in a massive user audience.
However, what tags along with the fame and premium services are the users addressing their concerns through negative feedback. So while AvaTrade has earned people’s trust over the years, some different stories and instances go around. The AvaTrade scam is a byproduct of its suspicious activities and the contribution of companies that duplicate their services.
Is AvaTrade Legit or a Scam?
There’s a skeptical pause that traders deal with when considering investments with AvaTrade. It follows with a simple thought “Is it safe to use?”. Firstly, investigators at Financial Fund Recovery acknowledge that the AvaTrade broker isn’t a scam. Then, again, it raises suspicions about the negative reviews that frequently surface.
One thing is for sure that AvaTrade isn’t authorized in the USA. Yet, there are plenty of American citizens reporting it. Furthermore, our experts learned that it wasn’t AvaTrade but a bunch of fraudulent websites. With the goodwill that the business carries, it’s hard for traders to suspect that it’s a scam. Besides, the scammers sure do an excellent job at pretending.
Here are a few aspects that can throw some light on AvaTrade’s operations and answer your queries- “AvaTrade: scam or not?”
AvaTrade isn’t a scam. On the contrary, it’s known as a legitimate business as none of its works prove to be unlawful.However, listed below are some reasons that explain why traders have been hesitant to deal with it.
Its Connection With Lara Capital Management & Market Making Service
Market making refers to the process wherein a firm or person matches the buyers and sellers. It makes the transactions effortless and renders the currencies more liquid. What puts AvaTrade in a tight spot is that they are market makers for their business. Now, there is nothing wrong with being a market maker.
However, all the scam reports made by victims elaborate how they are a terrible option for a market maker. Lara Capital Management takes care of the process, a firm controlled by the same parent organization. The fees levied on such services are called a “spread”. With the way things are moving, it seems like AvaTrade is concerned about making more profits.
AvaTrade’s Arbitrage & Hidden Fees
Arbitrage is a forex trading strategy that enables traders to exploit the poor market conditions. It helps in making rapid decisions in favor of the trader. Generally, this strategy is widely accepted. But, unfortunately, AvaTrade bans this procedure. Nevertheless, its website still maintains content on arbitrage which gives off a wrong impression. Clients sign up in anticipation of services that don’t even exist. As a result, it leads to dissatisfaction among its users and compels them to assume that it’s a forex scam.
Further to that, it also investigates its clients who trade with arbitrage. There are instances where AvaTrade has suspended an account that has engaged in these forbidden services. It implies the suspended user won’t be able to withdraw funds from their account or exercise trading.
Another set of storming complaints that the firm handles are hidden fees. At the same time, words such as “low spreads” and “zero commissions” are often used by AvaTrade. What disappoints traders is that it doesn’t live up to its word. Instead, there’s an extended list of fees that make their way out eventually. It explains the havoc that the users confront.
While its charts and websites represent low pricing, its contracts are still transparent and disclose valid pricing. Though it strikes the users as an inappropriate act or motive, it can’t be deemed illegal.
What Do You Do If You Were A Victim To The AvaTrade Scam?
We suggest traders prevent using such problematic sites. Make sure to verify a website or investment firm before you go ahead with your deal. Nevertheless, if you’ve lost your funds to AvaTrade scam, reach out to Financial Fund Recovery.
We’re a fund recovery expert that strives towards helping scam victims get their entitled money back. While this process might seem cumbersome, our skilled team makes it as easy as pie. Once you’ve registered your case, be it AvaTrade scam or other sharp practices, we handle it with due diligence. The first step focuses on confirming whether the provider is legit or not.
After ascertaining the legitimacy, our attorneys, detectives, consultants, researchers, and other specialists serve to recover your money. Financial Fund Recovery has been in the industry for over a decade with more than 82% win rates. In addition, we’ve assisted victims from other scams such as USI-tech scam, Big Option scam, and more. Connect to us now to avail a free consultation!
To avoid money laundering AvaTrade only allows withdrawals using the payment method that was used while making payments. For example if you make a deposit via a Credit Card, you are enabled to withdraw the amount using the same Credit Card only. Traders can only withdraw the profit through another method after 100% withdrawal of the amount they have deposited.
AvaTrade offers a minimum investment deposit of $100 to traders.
There are many forex brokers that are good for Pamm accounts. AvaTrade is one of them.
Like other regulated forex brokers and trading platforms AvaTrade is profitable too when the traders exercise caution and possess a deep insight into the market price range.
Based on AvaTrade user reviews, we can conclude that AvaTrade is a legitimate, secure forex trading platform which provides its users incredible bonuses, 24/5 accountability, instant execution etc.
AvaTrade is a legitimate trading platform and is regulated by the Investment Industry Regulatory Organization of Canada.
AvaTrade is a forex and CFD broker which also allows UK traders to participate in spread bettings.
Got swindled in the name of Avatrade? Consult Financial Fund Recovery and recover your lost funds.