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  • #1
  • First Post: Oct 20, 2010 2:17am Oct 20, 2010 2:17am
I am thinking of opening an account with them...what do you guys think?

Please let me know ur feed

Thanks
  • #2
  • Oct 20, 2010 2:43am Oct 20, 2010 2:43am
decent "ish" bucket-shop?
  • #3
  • Nov 2, 2010 4:21am Nov 2, 2010 4:21am
What makes you want to choose AVA in the first place? Based in cyprus, spreads arent attractive....I dont see the attraction.
  • #4
  • Nov 4, 2010 3:47am Nov 4, 2010 3:47am
as far as I know AVA is pretty old and trusted broker. Also somewhere I heard they have a very good support
  • #5
  • Nov 5, 2010 11:14am Nov 5, 2010 11:14am
I have deposited a live account with them and am about to start trading.
And, no. They are in Ireland, Dublin 1. And regulated in Ireland.
I have done much research on Brokers over many months and I have chosen them.
  • #6
  • Feb 18, 2011 2:31am Feb 18, 2011 2:31am
Hi everyone...

I am using their demo account...they have a little bit large spreads (for Fx, oil)..but their attraction to me is that they have so many instruments you can trade....for example copper (instead of AUD/USD), sugar, cotton (of which everybody is talking these days...)

Is somebody using this broker? on on another site I've seen that they have so much negative reviews about withdrawal but with their customer service I was explained that those people simply did not give all requested documents....

non biased review would be helpful...Does anybody know any other broker who has also a large number of different instruments? oil, softs, bonds...sugar. etc...

Thanks
  • #7
  • May 30, 2011 6:46am May 30, 2011 6:46am
  •  ajdb
  • | Joined May 2011 | Status: stick to your trade plan | 32 Posts
Quoting kengur
Hi everyone...

Is somebody using this broker? on on another site I've seen that they have so much negative reviews about withdrawal but with their customer service I was explained that those people simply did not give all requested documents....

non biased review would be helpful...Does anybody know any other broker who has also a large number of different instruments? oil, softs, bonds...sugar. etc...

Thanks
I signed up with AVA in April..... I'm based in Dublin and they have an office not far from me. A few points:
1. It took me over 6 weeks to get the 1200 bonus.
2. The spreads are wider than other operators.
3. The have a wide range of instruments that you can trade e.g. Currency, Stocks, Indexs, Commodities, Bonds
4. There are issues with their AVAFx platform - I've had 5 s/w updates in just over 1 month. The AVAFx platform is not suited to intra-day trading as the response times are slow
  • #8
  • May 30, 2011 6:58am May 30, 2011 6:58am
  •  ajdb
  • | Joined May 2011 | Status: stick to your trade plan | 32 Posts
Hi Folks,
I was hoping to get some feedback from members. Last month I signed up with AVA. After a couple of weeks I complained about the execution times using their AVAFx platform. One of the AVA guys asked me to call into their office and he would set me up with MetaTrader 4. I called to the office and he then asked to look at my trades - at the time I had open short positions on S&P 500 (with stops & limits in place). The AVA guy strongly advised me to close my positions as he said my account could be wiped out. I didn't want to close the positions however the AVA guy started giving me a doomsday scenario saying that the S&P could rally and make new highs. In the end, I closed the position on his laptop and immediately realised a 12-13K loss. Later that day the S&P dived and the following morning the S&P had gone past my limits. Had I not taken the poor advice from AVA, I would be up around 30K, instead I was down over 10K.


Needless to say I wasn't happy. I contacted the financial regulator reviewed the AVAs' license. They are not licensed to give advice and so I submitted a complaint. The process is ongoing.

Has anything similar ever happened to you? What did you do? In the above scenario, do you think I am entitled to the profits I would have made?

Any/all comments welcome.

thanks
AB
  • #9
  • May 30, 2011 2:55pm May 30, 2011 2:55pm
I used them for 6 months or so,never really had any major complaints really,got bonus of them,money withdrawal would be within a week,they have lots of instruments but all that is payed into the spread which is quite high even for such pairs as eur/usd 3pips always,as for financial advisors as i know they have few of them working,and i used to get a daily letter from one of them,and i remember the guy sending signals to buy silver when it was 17$ and saying that it might hit 25$ and more,i though in your dreams.So basically it was your choice to close positions,same on tv theres always someone whos saying gold gonna reach 5k and someone else predicting doomsday,and you cant sue them the only thing that wonders me if you trade in amounts above 10k why not open thinkorswim or proper ecn stp account,as opposed to using bucket shop broker.
  • #10
  • May 30, 2011 8:37pm May 30, 2011 8:37pm
Quoting ajdb
Hi Folks,
I was hoping to get some feedback from members. Last month I signed up with AVA....
Taking trading advice from your broker ??
I still have a live mt4 account with AVA even though I don't use it much ... only for some looong term trades. Forget about scalping with AVA they are much too expensive. I have never had any issues with them or their platform.
  • #11
  • May 31, 2011 4:11am May 31, 2011 4:11am
  •  ajdb
  • | Joined May 2011 | Status: stick to your trade plan | 32 Posts
Quoting pinkiaiii
..........So basically it was your choice to close positions,same on tv theres always someone whos saying gold gonna reach 5k and someone else predicting doomsday,and you cant sue them the only thing that wonders me if you trade in amounts above 10k why not open thinkorswim or proper ecn stp account,as opposed to using bucket shop broker.
thanks for the feedback - I will look into ThinkorSwim. Just on the closing of the position..... certainly I clicked the mouse that the closed the position in AVAs' premises, on the AVA guys laptop after listening to him for over 30 mins. However I did it only because the guy I spoke to persuaded me to do it. AVA do not have a license to give financial advice - I checked this with the Financial Regulator. They should not have given advice on my open trades, especially advising me to close positions in their premises on their computers. The Financial Regulator indicated that it sounded like they acted outside their remit. The complaint has been lodged... ultimately the Financial Ombudsman will decide on the case. I'll keep this post updated....
  • #12
  • May 31, 2011 10:44am May 31, 2011 10:44am
Well if you say so,it sounds abit like pushing from their side,anyway keep us posted how it ends.
  • #13
  • May 31, 2011 11:26am May 31, 2011 11:26am
hi guys

I wanted to know ava have account ENC
  • #14
  • May 31, 2011 11:53am May 31, 2011 11:53am
Check them out at www.forexpeacearmy.com
No scalping allowed. If you do, you are manipulating the market or you are placing trades "out of market" due to their slow server.

My experience with them is that when I place a long trade, a short trade on the same instrument appears and you cannot close it.

My Account Manager that managed my account at one stage stopped trading with AVA as withdrawals became impossible. They also refused to pay his commission as he was on a winning streak. He advised me to leave AVA.

Their Terms and Conditions disappeared from their website. I asked for this and they sent it to me. It states that they are an Unregulated Broker on the Isle of Mann or something.
I sent my money to Dublin. It also stated that long term trades have a time limit that is reviewed from time to time.
As I am a long term trader, I asked them for this time frame but they have not replied.
  • #15
  • Jun 1, 2011 5:13am Jun 1, 2011 5:13am
  •  ajdb
  • | Joined May 2011 | Status: stick to your trade plan | 32 Posts
Quoting Ukkram
.....their Terms and Conditions disappeared from their website. I asked for this and they sent it to me. It states that they are an Unregulated Broker on the Isle of Mann or something.
I sent my money to Dublin. It also stated that long term trades have a time limit that is reviewed from time to time.
As I am a long term trader, I asked them for this time frame but they have not replied.
Currently they are regulated by Central Bank of Ireland - Ref No.C53877.....
  • #16
  • Jun 1, 2011 12:42pm Jun 1, 2011 12:42pm
AVA Financial Ltd. is an unregulated company resident in the British Virgin Islands.

Copy and paste from their Terms and Conditions.
  • #17
  • Jun 1, 2011 1:23pm Jun 1, 2011 1:23pm
https://www.avafx.com/Terms-Conditio...roup=NoCapital
  • #18
  • Jun 1, 2011 2:59pm Jun 1, 2011 2:59pm
Some people just spam and make false statements even thou they might not ever used the broker.
  • #19
  • Jun 13, 2011 4:26am Jun 13, 2011 4:26am
  •  ajdb
  • | Joined May 2011 | Status: stick to your trade plan | 32 Posts
Quoting TheFutureAce
I am thinking of opening an account with them...what do you guys think?

Please let me know ur feed

Thanks
I had to send a number of emails to AVAFX this morning. The problem is their trading s/w doesn't work properly e.g. it misses stop and limit orders. It does not accurately reflect open positions.

As of this morning I've had to send 4 emails and associated screen-shots highlighting the fact that my account is reflecting incorrect trading data on a range of positions.

This development is most annoying. I do plan on leaving AVAFX however first I want my issues to be resolved.

See copy of email sent this morning:
'Please see the screen-shot below. You can see that a SHORT position was opened on the FTSE100 - the position has gone in the expected direction. The problem is my account is not reflecting the correct fund position, by a factor of 10. The correct fund position should be circa plus €400 instead it's only €40. Please advise'
  • #20
  • Jun 13, 2011 9:29am Jun 13, 2011 9:29am
  •  ajdb
  • | Joined May 2011 | Status: stick to your trade plan | 32 Posts
An AVAFX employee today acknowledged my issue and said it was being investigated. I went through my open positions in more detail and the AVAFX s/w is incorrectly estimating the value of all my FTSE 100 trades and also all of my DJ trades - by a factor of 5 or 10. This is having a terrible affect on my margin.

I again contacted the Irish Regulator and asked for their advice. The first thing I was advised is that - AVA Capital Markets is regulated by the Irish Regulator, however AVAFX is not. I was told - by an AVA employee - that they were regulated.

At this stage I just want my account to be put in order, so that I can move funds out.

Question, if AVAFX are not regulated by the Irish Financial Regulator, where does one go to resolve issues?
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