Broker reviews

AvaTrade Review 2022 – A Scam or Legit Forex Broker?

by Krishna Gopal 16/12/2021

FX Bullion

Overall rating: 2 / 3
Visit avatrade.com
Type: Broker
Regulation: DT Direct Investment Hub Ltd

Pros

Cons

Broker Fees

Overall rating: 2 / 3

Pros

Cons

Broker trading fees

Broker non-trading fees

Broker trading fees


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Broker trading fees


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Broker markets and products

Overall rating: 2 / 3

Broker web trading platform

Overall rating: 2 / 3

Pros

Cons

Broker account opening

Overall rating: 2 / 3

Pros

Cons

Broker deposit and withdrawal

Overall rating: 2 / 3

Pros

Cons

Broker Verdict

New traders can open accounts for less than 100 base currency units, and brokers provide specialized training and research resources to accelerate them. In addition, AvaTrade claims that accounts in all jurisdictions are protected from negative balance sheets and even offers AvaProtect, which allows customers to obtain commercial insurance.

AvaTrade offers average-to-competitive spreads, depending on account type, and adequate educational resources. Its low account minimums make it ideal for new and undercapitalized traders seeking to build on limited skill sets.

The website and marketing material, while aiming for transparency, could be confusing for prospective clients looking for information about account types, spread schedules, and fee listings.

Not being FCA regulated is concerning and large-scale and professional traders are likely to find better value elsewhere due to the lack of volume discounts, high-end trading platforms, and comprehensive news and research resources.

Summary

Overall rating: 2 / 3

Recommended for

User Reviews

Avarage rating: 2 / 3 | Reviews counted: 3
2

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03/27/2022, 03:16

I have invested with some scam brokers in the past, and the story is as horrific as the ones i have read because i went through the ordeal myself. I lost almost $80,000 USD to this unfortunate brokers, a friend referred me to Mr Jackson Evans that got me 80% of my money back, plus my accrued bonuses. Please stay clear of these scammers and if you have lost money you can still get your money back if you really want to, you can reach out to Jackson Evans at: {jacksonevans384 (@) gmail.com}. he will definitely help you in getting back your lost funds to any broker….. as mine was recovered too.

3 5
03/13/2022, 18:22

Withdrawal Problems/Lost Funds: There are many binary options companies which are not regulated all around. Most of these offshore companies are not supervised, connected or affiliated with any of the regulatory agencies such as the Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA). Many of these brokers misappropriate traders money thinking these traders will not act. Beware of where you invest in and if you have lost any amount of funds(Money)

1 5
02/06/2022, 03:50

The crypto Currency Authorities should monitor every Brokers and Account Managers activities, I lost over $230,000 to unregulated Brokers who convinced me into investing my capital. After some successful trade and my profit increased I make a withdrawal request but surprisingly all my withdrawal request was declined , I contacted their customer service unit but i was not given a meaningful Reason why my request was declined. I tried all I could to withdraw my fund but no solution , at the end I lost all my capital without a single profit return .In search for help on how to get my money back I was directed to contact Mr. Carlos Martinez who work with crypto Currency authorities, I contacted him and explained my situation to him , he requested for some details about the broker and concerning my investment, I forwarded all the details to him. It was all like a dream , through him I was able to get back all my money , please don’t sit back and cry when you facing difficulties in withdrawing your profit or you totally lost your funds to any Broker or Account Manager

2 5