AvaFx discounted 20€ from my Live Account - "inactivity fee" | Forex Factory

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AvaFx discounted 20€ from my Live Account - "inactivity fee"

  • #1
  • First Post: Jun 21, 2013 4:16am Jun 21, 2013 4:16am
I have a small Liveaccount with Avafx since many Months

I just saw, that the Broker discounted 20 € from my Account as a "Inactivity Fee"

is that legal?
  • #2
  • Jun 21, 2013 7:36am Jun 21, 2013 7:36am
yes
  • #3
  • Jun 21, 2013 7:51am Jun 21, 2013 7:51am
As long as it's in the terms and conditions it is something you should have been aware of when you opened the account, and fully legal.
  • #4
  • Jun 21, 2013 8:13am Jun 21, 2013 8:13am
whoa, that is a sucker punch. if the inactivity fee is stated in their terms, then they are allowed to take it, but inactivity should be defined in some way such as at least one trade within 30 days or maybe a certain volume within a certain time frame. now, this is probably a good indication to switch brokers IMO as no broker i know of takes an inactivity fee. but as a lesson learned, make sure to read their terms, or you can also do a live chat with one of their reps and take a screen shot of their response.
  • #5
  • Jun 21, 2013 12:18pm Jun 21, 2013 12:18pm
Inactivity fee lol maybe I'm behind the times here, but how could a company lose money by you NOT making any trades, and be forced to bend you over like this? besides them making money when you enter a position through the spread, I mean - it isn't costing them anything for holding onto your money and you not trading, infact they'd be making money from the bank account where where all their clients money is held via interest, unless of course they don't segregate clients funds from their own company money and if that's the case, very naughty indeed.

Want my advice? get your money out and change broker.

  • #6
  • Jun 22, 2013 12:35am Jun 22, 2013 12:35am
If this is there in their terms and conditions then there is nothing you can do about it. But for me i feel that this is not good and my broker doesnt charge such inactivity fee.
  • #7
  • Edited 1:08am Jun 22, 2013 12:52am | Edited 1:08am
Quoting Greeneyez
If this is there in their terms and conditions then there is nothing you can do about it. But for me i feel that this is not good and my broker doesnt charge such inactivity fee.
The inactivity fee is clearly mentioned on the website. It's not about whether this broker is good or not. If you accepted the fees & charges and decided to open account with them, then you should honor the agreement.

http://www.avafx.com/Trade-Conditions-Charges/
No longer trading forex. Looking for full time job.
  • #8
  • Jun 22, 2013 3:12am Jun 22, 2013 3:12am
AVAfx is the new RyanAir of Forex .....Its a freaking joke...whats next...Active fee, trading too much for too long fee. Not closing the trade fee, closing fee, requote fee, server connection fee, monthly maintenance of account fee, I'm bored too much fee..

This seems to be a new trend to suck in money...STOP IT BEFORE IT SPREADS....I have never seen this robbery before...This is NEW...Cut them loose...before it spreads
  • #9
  • Jun 24, 2013 6:56am Jun 24, 2013 6:56am
Quoting mmaker
{quote} The inactivity fee is clearly mentioned on the website. It's not about whether this broker is good or not. If you accepted the fees & charges and decided to open account with them, then you should honor the agreement. http://www.avafx.com/Trade-Conditions-Charges/
Exactly. Lets be honest, you are the one to blame by signing up with them. I know none of us read T&Cs, but I guess we should!
  • #10
  • Last Post: Nov 11, 2013 8:04am Nov 11, 2013 8:04am
Quoting spiderforex
AVAfx is the new RyanAir of Forex .....Its a freaking joke...whats next...Active fee, trading too much for too long fee. Not closing the trade fee, closing fee, requote fee, server connection fee, monthly maintenance of account fee, I'm bored too much fee.. This seems to be a new trend to suck in money...STOP IT BEFORE IT SPREADS....I have never seen this robbery before...This is NEW...Cut them loose...before it spreads
Lool, you post made me to smile, thanks man.

Btw: Dukascopy has a similar fee.
I want to buy PATIENCE
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