Menu

  • Canadian regulator: Do not give AvaTrade your money

    From leaprate.com

    Canadian provincial financial regulator The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has announced that it has issued a Temporary Cease Trade Order against Ava Trade Limited. The FCAA stated that AvaTrade appears to be operating an unregistered online platform that allows users to trade in Forex and Contracts for Difference (CFDs). FCAA Deputy Director Ed Rodonets said: An investor should always check to see if a company is registered to trade in the jurisdiction that the investor resides, before handing over their money. A company’s registration status can be checked by using the Canadian ... (full story)

glad i'm canadian!
-get rid of these bogus brokers!!

you may like these guys... but they are not good enough for CAD
  •  Guest
  • | IP XX.XXX.192.39
that's right! I shut down my account after 1 month when I saw they we're holding my trades and trading against me as well as asking for $8K to trade oil!!!!
  •  Guest
  • | IP XX.XXX.247.34
8k for oil trade? they are around 650$ of margin for 1 LOT size.. I have not had any issues with AVA, have been using them for over half a year. Wire in and out takes up to 5 days. Has anyone actually lost money to AVA??
  •  Guest
  • | IP XX.XXX.176.197
which fx company would you use then if it is not avatrade?
Quoting Guest
which fx company would you use then if it is not avatrade?
one that is regulated to operate in your country of residence... take your pick
We must really consider the nature of the broker first before starting to trade with them....
  •  Guest
  • | IP XX.XXX.23.184
the problem is that US/CANADA have low leverage. no more than 40/50 to 1. so 1 lot on a currency pair will require 7-9k in margin alone. You will need 12-15k just to do 1 lot trades. With 10k account you can trade 1 lot size with SL of 30 pips @ 2.5% of total account. Which is quite reasonable. and you can have 2-3 trades running at the same time. This is only possible in UK and other foreign brokers.
  •  Guest
  • | IP XX.XX.16.180
interactive brokers or oanda; oanda has a pretty clean platform which I use. My instructors use interactive brokers though
Blimey. AVA eh? Tip of iceberg...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Guest
the problem is that US/CANADA have low leverage. no more than 40/50 to 1. so 1 lot on a currency pair will require 7-9k in margin alone. You will need 12-15k just to do 1 lot trades. With 10k account you can trade 1 lot size with SL of 30 pips @ 2.5% of total account. Which is quite reasonable. and you can have 2-3 trades running at the same time. This is only possible in UK and other foreign brokers.
i can trade a standard lot of usd/cad for $2,800 CAD
300 pips = $3,000 (100% return on margin).
  • New Comment
  •  Guest
  • | IP XX.XX.14.83
Join FF
  • Story Stats
  • Posted: May 1, 2018 10:22am
  • Submitted by:
     Newsstand
    Category: Forex Industry News
    Comments: 10  /  Views: 4,497