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Forex

stay away from ava fx

I traded CFD's on AVA FX platform.
I had a terrible experience because they suddenly erased all my profitable trades. My account was 186,929.00 € !!! and it has been erased. Read my story here: http://mycfd.blogspot.it/
Many other customers experienced huge problems with ava fx and now there is a big class action against ava fx. Also the Irish Financial Ombudsman opened an inspections upon this broker.
My advice is stay away from ava fx

Mario 2012-07-02
Forex

AvaTrade Review, Rating and Comparison

AvaTrade Review & Rating | AvaTrade Forex Broker

Headquarters:  Dublin Exchange Facility, IFSC, Dublin 1

Country: Ireland

Regulated by: Central Bank of Ireland, ASIC, FSA Japan, MiFID compliant

AvaTrade offer various instruments including Currencies, BITCOIN, CFD’s, FX Options and many others

Trader's rate 2
Editor's rate 3.20

AvaFX Account Info:

minimum deposit: $100

minimum lot size: 1k

max leverage: 1:400

 

Spread:

Variable, from 1 pip on EURUSD 

Fixed, 3 pips

 

Deposit/Withdraw

Bank Wire, Credit card,  PayPal, Moneybookers, Liberty Reserve, Web Money, Neteller

 

Platform:

Metatrader, Custom Trading platform, Mirror Trader, ActTrader

 

Forex Signals and social trading:

Zulutrade, Tradency, Currensee, Ayondo, API

 

 



AvaTrade is a part of the Ava Group, an international company operating out of Ireland, British Virgin Islands, Australia and Japan. The brokerage offers excellent benefits to its customers – starting from a first deposit bonus ranging from $100 to $5,000, Refer-A-Friend bonus of up to $150, private dealers, free trading signals, and the AvaSelect VIP club, where members enjoy express withdrawals, customized trading terms, tailored educational programs and special gifts among other things.  

 
The one thing we are not crazy about are Ava FX's fixed spreads, which are way too high for the industry standard – 3 pips on EUR/USD for example. While fixed spreads can protect you from the spread widening which may occur at the close of markets or during major news releases, we would much rather trade with a broker offering capped variable spreads. And as if this is not all, the broker's average slippage is 2.3 pips, which is super high. 
 
The high spreads and slippage will also impact your automated trading – Ava FX offers the ZuluTrade, Mirror Trader, Currensee and Ayondo social trading platforms, and all these charge commissions for copying signals. Add these commissions to the spreads, and you end up paying a lot more than you should. 
 
The platforms Ava FX's clients can choose from are Metatrader 4 (MT4) and its own Ava Trader. We have tried the latter and we find it to be a bit cluttered and unresponsive, so we would rather opt in for MT4. 
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