It was back in 2006 when AvaTrade opened its trading platform and during that time it dealt with only stocks. Soon, with the improvement in technology, it started dealing with Forex trades, crypto trades and CFD trades as well. However, certain traders have complained about AvaTrade being a scam broker hence we at Morgan Financial Recovery decided to pull the plug and find out whether it actually is one or not?
Morgan Financial Recovery is one of the highly recommended fund recovery firms in the world. We have recovered over $3 million so far and worked in over 2400+ cases. With our expert team of over 54+ attorneys, we pledge ourselves into listening to customer woes and solving them in quick succession.
Let us assure you, AvaTrade scam is something that needs to be unfolded because AvaTrade is indeed a scam. Trading is a very difficult game in the very first place itself and as a result, a lot of people just end up losing their money on a regular basis. Avatrade is a part of the thorough scrutiny of regulatory bodies of the European Union and the Central Bank of Ireland. But both the authorities have clearly denied being associated with AvaTrade.
The spreads there are highly competitive and AvaTrade does not charge any commissions for small profits. Traders do have a very favorable opinion about the broker and over 13 years, AvaTrade seems to be running a very sweet deal in the first place itself. Also, the leverage offered is pretty good (1:30). One needs to be aware that such high leverage can cause high risks when it comes to losing all your money, however, the commissions save them a lot of money. But this is fake. Such high risks might pose as a loss for the trader and as a result, they lose all the money. Also, commission-free trade only happens on small trades and not big ones. For big trades, you need to pay the traders a huge commission.
The broker has an address located somewhere in Dublin, Ireland and if you belong to any other country, you might just lose a lot of money in it. Why? Because Ireland doesn’t entice a broker with strict rules like the US or Canada does. This paves the way for something really serious and you can lose all your hard-earned money in the AvaTrade Scam.
Financial authorities from Canada and the United States have clearly stated that one should only trade with brokers registered in their respective countries. The authorities would hold no responsibility if you lose the money. However, Morgan Financial Recovery can help you if you have lost your money as we deal with fund recoveries from such scams on a daily basis. We also have our team of attorneys and private investigators in Ireland, where AvaTrade is located. It will help us locate the firm and recover your money faster than expected.
The company doesn’t have any kind of physical presence in Ireland. It shows itself into some random place where it is located unfortunately when we traced back to the website, we realized that the company doesn’t have any kind of presence in that particular address that is given in its site.
AvaTrade Scam was unfolded because of the commission-free nature of the trades that it provided. But the no commission stature of the trades is fake indeed. It totally depends on the account type that it is having. According to a report by the advisors of Morgan Financial Recovery about the AvaTrade scam, we found that there are some discrepancies and fees and commissions are indeed charged on account types that are not disclosed to the general public. Fees can be charged either on fixed, floating or even side by side accounts as well.
Frauds like the AvaTrade scam are pretty common in nature. However, you can always recover your money from such frauds. All you need to do is send us a mail here at Morgan Financial Recovery and we will get back to you in no time. We have the best in class support for such types of scams and your money is going to reach you back within 90 days or so. Shoot us an email if you are a victim of the AvaTrade Scam.