AvaFX: Scam or not?

[jk4838]

When I used the demo account I could make trades on my iPhone but on my real account I can only buy or sell banco Santander.

I dint know why the account manager hasn’t contacted me yet I’d live. To think he’s on holidays or something but live chat is useless because they always say that the account manager will call me back and he never does. I spoke to him last on Friday and he said he would be working all week except during the weekends.

I’m a little bit worried about the trading platform. In relation to margin requirements and leverage it doesn’t add up I’ve done the maths and I believe I’m right.

It doesn’t also use live prices which I think it they ( Avafx) say they do.

So you said that there were delays in Avafx so i got curious and went compare the quotes on my Avafx plattaform with the quotes displayed on Netdania charts, FXCM and OANDA here are the results:

1.AvaFX, FXCM, and OANDA quotes all move at the same time and show the same quotes.
2.Netdania charts shows quotes one pip off for example if EUR/USD is quoted at 1.3225 at AvaFx, FXCM and OANDA at NetDania the same currency pair is quoted at 1.3226.

So i guess no delay,for me at least. (this experiment was quite interesting since in simulations i’ve always used the netdania Charts and it seems they are off :D)

[jk4838]

What I mean is if I wanted to buy 100 shares of citigroup which is at 4.79. So 4.79 x 100 = 479

Margin requirements for citigroup is 5%. So 5% x 100 x 4.79 = 23.95

23.95 is the amount I need in my account to do this but I can’t. It’s says insufficient margin which is a lie.

It’s the same with the leverage.

Yea man you are right to buy 100 shares at 4.79 with 5% margin you need 502.95. 479 to buy the shares and 23.95 in your account for the margin.
Perhaps i’m looking at this wrong since i don’t trade stocks but yea it seems you are right.

Right now the only thing i can tell you is to clear that out with the costumer support.

[freeze4real]

I’ve compared real live prices of the stick markets and I’m telling it’s off. I’ve used daily finance on my iPhone I’ve used yahoo finance and google finance as well and I’m right the live prices on Avafx is atleast 15 - 20 min slow.

Is that the way it’s meant to be ?

Did you make a comparison of the stock indices?

Another question is the bonus i was told that if I open an account and I funded €100 I will get a bonus of €50 which I haven’t recieved .Do you know when i will get this?

[jk4838]

I’ve compared real live prices of the stick markets and I’m telling it’s off. I’ve used daily finance on my iPhone I’ve used yahoo finance and google finance as well and I’m right the live prices on Avafx is atleast 15 - 20 min slow.

Is that the way it’s meant to be ?

Did you make a comparison of the stock indices?

Another question is the bonus i was told that if I open an account and I funded €100 I will get a bonus of €50 which I haven’t recieved .Do you know when i will get this?

I’ve only compered the prices of currencie pairs, but yea i’m curious to see if i have that same delay i’ll make the comparison as soon as i can (I think the stock market is closed now)

I know some brokers do have delays of 15 or 20 minutes and if you want real time quotes you have to pay extra but i don’t think avafx is like that i mean in the site they say REAL TIME QUOTES!

About the bonus, i’ve completely forgot about that i didn’t recive it either i’ll send a message asking about it.

[freeze4real]

Okay thanks for the insight I’ll get in touch with the customer care about the margin problem aswell as the bonus.

I’ll keep you posted.

UPDATE: there was no issue with the margin in the first place because it was the amount I had to trade with.

The leverage only works for forex.

I made the 25% that I’d lost earlier who was good.

Thanks for he help guys

Happy New Year.

[nadpat30]

I don’t think avafx is a scam. If you want to get more sides, then better look for reviews online. So that you would see what people think about it. You may read good and bad reviews but its up to you to weigh what is right and wrong

[dgerards]

As I’m still new to forex and not yet ready to trade with real money I opened a demo account with them. The same day I received a phone call from the account manager who told me a bit more about their company, answered some of my questions and also sent me a link to an e-book “Trading Strategies”.

So far I’m at least impressed with their customer services, the only downside for me at the moment is that the account manager also told me that their demo account is limited to 21 days after which you will be unable to continue trading on the demo platform. This wasn’t clearly visable on their website when I opened the demo account, so I’m a bit disappointed with that as I intended to use the demo account a bit longer before trading for real.

[rbk0786]

We are working with AVAFX from last 3 years and also opened many accounts with them from 100$ to 10000$ almost 55 accounts. I never face any difficulty and always receive money without any delay on time. Even they never miss a penny and we got our withdrawl no later than 01 day.

So i highly recommened them a GOOD AND TRUST WORTHY BROKER

[jk4838]

We are working with AVAFX from last 3 years and also opened many accounts with them from 100$ to 10000$ almost 55 accounts. I never face any difficulty and always receive money without any delay on time. Even they never miss a penny and we got our withdrawl no later than 01 day.

So i highly recommened them a GOOD AND TRUST WORTHY BROKER

Why would you open 55 accounts??? And what is 01 day? lol

[ag123]

hi,
be aware from avafx.com is a big scammer and it love only clients who loss his money the clients taking profits from it not allowed here in avafx.com if some body have tacked a big profit it will be cancled soon with the reasson ( YOU HAVE TRADED OUT SIDE THE MARKET ) LOL…

[jk4838]

@ag123

hi,
be aware from avafx.com is a big scammer and it love only clients who loss his money the clients taking profits from it not allowed here in avafx.com if some body have tacked a big profit it will be cancled soon with the reasson ( YOU HAVE TRADED OUT SIDE THE MARKET ) LOL…

This reply is as reliable as the guy that said he open 55 accounts :S

[ag123]

This reply is as reliable as the guy that said he open 55 accounts :S

many threads are showing that this is a big scammers of 2010 and try to get award of bad broker of the 2011 too.
all members and traders plz do not open account with this broker they are regulated with central bank of ireland as(The investment business firm listed below is authorised as Investment Firm under Regulation 11 (1) or deemed authorised under Regulation 6 (2) of the European Communities (Markets in Financial Instruments) Regulations 2007.)
MiFID Investment Firm. plz read the code of conduct of his regulators and you will not again think about this scammers…
i am fully investigating and calculating proofs against this brokers.
plz help me to prove this broker is big scmmer…
regards

[rbk0786]

Why would you open 55 accounts??? And what is 01 day? lol

yes im open 55 account avafx e.g my account 2044446 this account funnding $10000 dated 20/09/2010 and my account 80192 and 2018098 and maney maney ac****s my and my firdrs but i have a not a prlomm avafx is vey good broker ?

RAB nawaz

[ag123]

@mytwopips

Hi SpaceKid,
Welcome to the forum. I don’t know much about AvaFX but I do have an opinion on ForexP…Army. If you are looking for a good broker review over there, you will never find a broker. Just a bunch of washed up news spike signal traders with blown out accounts blaming there brokers. You are now in the right place over here. The tools tab also has a broker comparison section.

i disagree with you here you say that in fpa have nothing and here is better to find something about brokers but honestly they are doing all with honesty .
have you see the scam alert folder there ?
avafx.com is a scammer hope we continue to discuss about this bad broker…

[qwertymyfx]

Best thing is to try yourself. I remember one or two guys were saying fxopen were scammers. When I actually tried them, I was pleasantly surprised.

[alualdi]

avafx is a total scam!!! THEY SCAMMED ME MORE THAN 10K!!! THEY ARE THE WORST PEOPLE ON EARTH.

[superman0453]

my encounter is that the swap they are always charging me regardless I am in a BUY trade or SELL trade since 2010 Feb! If I have not checked that, I will still be fooled. Stealing money from my account. How can you then trust this cheat?

[cutteyboy]

My review on AvaFx from iran - i choose it because of prohibitng on iranian!

I start with 490 usd webmoney deposit and get 100 usd ramazan karim for muslim! ( They treat all middle east as muslims! )

Start with 590 usd, I see good order exucation in normal situations thaat is better from others i can choose like alpari nz.

While first-second days i turn it to a little higher but as bad trade and no risk management put it at about 200usd.

In the above trades in one situation i get resitance and continued OFF QUOTES withount any reasons that get me away from 100usd profit.

Again i start with it and turn it high till 1200usd! as few days 1 - 3! again start in the last day and turn live to 1400 but risk and loss at 100 usd!

I start the 100 usd and put it at 300 usd but again for risk get to under 100 usd and … . At end i get negative balance 16!

Anyway, while i was in these trades and at 1200 usd and start, ava mt4 get offline and do not login for 5 minutes at least! (Time: 12.31.51 12.36.42 - 08/11)

After login i get amazing result! The chart data at least in one candle was wrong! ( I check with otherS chart data, I have screenshot proof )

SO, for the off quotes i sent email as angry subject FATMA call me that do not angry, your account manager will be on you soon with details!
( Nothing happen and i do not care to that because 100 usd just and was a future profit that because of IFF QUOTES not happen and result ib about 50 loss )

Anyway, i tried again Angry subject mail to account manager EBRAHIM! That was also good that nothing happen again!

I do not care to it and start trading after mails and no answer or just simple funny answers! ( Some emails that manger sent he did not receive!!! )

I start at 1215! Based on technical i risk but … .

After i get negative balance again based on wrong technical analyze i tried another chart data and indicators and see differents data on others and ava!

I think that was because of wrong data on ava that do not care to answer me or JUST try to repair and correct the wrong chart data!!!

After negative, i try the EBRAHIM! he give me funny answers and after it do not answer me again after many emails!

I tried the email support-avafx.com and said i will on forum if no answer to me!

Some one as AMAR back to me as middle east manager! I again forward all mail to him! Again misunderstanding and …! I expalin in below data again to him:

---

1- i do not get daily news!
2- in a day that i sent time of it, i get many OFF QUOTE! so cannot open position and again get open position as wrong as i get before it many off quotes so i THINK i lost about 50 - 100 due to that.
3- i had 1400 usd in balance, i trade and lost it till i get negative balance in 2 3 days! I first think it was from my bad management and … but now i think that was because of wrong data provided by ava meta trader. You should see the pictures i attached, in a time i get offline from ava meta and then can just login after about 5 min! BUT is see a dramatically change in data on chart show and comparison chart to other brokers chart like fxcm even. the chart show a gap and some candles were different. then i check for pivot lines with the same indicators in other brokers chart, i see different lines!!!
Now, i want to know about the wrong data in chart in that time ( i was sent screenshots ) and also now think that i lost my most of the money due to wrong data that get me in wrong technical analyze!

---

After all mails, i dont receive another answer and again wait! After days and no answer and many mails from me! I open ava meta4 i see that negative balance corrected and i receive JUST 60 USD!

I write to them,

I,m still waiting for answers and reason to questions & issues i asked!

I see the 60 usd bonus in ava meta trader! Can i know the reason of it? is it refund?

Please first answer and explain the questions issues then based on them lets see should i get refund or not, and calculate the value of it! i lost from 1400usd!!!

WAITING, WAITING, WAITING.

THE TECHNICAL DATA I WRITE ABOT THEM WAS PIVO POINTS AS S/R THAT DIFFERENT FROM OTHERS! But otthers were same!
Also some others data that the wrong data on that date affect them.

I am wait for exprienced ideas!

I ALSO VERY DISAPPOINTED WITH HIGH SPREAD! They just earn from me 3000 usd at 1 week i trade lots!
Euro/Cad 9pips!!!

[30Jonathan30]

After getting burned by several forex brokers including the largest ones, I was introduced to AvaFX by my friend and trade with them for the past 7-8 months.

Customer service is great, and for a medium-size trader ($10,000), I am getting more than I expected.

Withdrawals can take up to 1 week but they always arrive on time, and credit card deposits are instant.

The platform is the best one out there.

Overall, if you are a medium-size trader, AvaFX is definitly worth examining.

Mike when you say 10,000 is that how much you have in your account or how much your equity is???

I am trying to trade with 50,000.

[MarcoTrader]

Hello

I just joined this forum because I don’t know where else to turn for help.

I am owed over €160,000 by this company and they are refusing to pay up because of arbitrage restrictions. I have been passed the details of a law firm which specialises in FX Trading Litigation, the lawyers have told me that their T&C of business are invalid and unenforceable.

Has anyone else taken them to court or considering to do so? I think that the legal costs for one investor are prohibitive but if more investors join forces, then we should be able to share these costs and be able to bring these guys to justice.

If anyone is interested in helping me out or has suffered similar losses from AVA Fx, email me your contact details or post on this 3ad and I will get back in touch

Marco