AvaFX Scam? - Personal Experience

There has been a lot of rumors and reviews posted about AvaFx on the Net, some of them are favorable and some are not. Some people claim that avafx scam, that this broker stole their money, but there are those who say that their services are wonderful. The question is therefore this – who do we believe? How can we know the truth? Or rather how can we identify true posts from the false ones.

Personally I have had some experience with this broker. It was not always a smooth ride but the overall impression was positive, and one that made believe that avafx is an honest broker and definetly not a scam. At first I took one of those one-time forex seminars. A very nice man tried to explain us some basic terms of the forex market. After this seminar I felt inspired and driven to dive in, but frankly, still had no clue what to do, how to find a trend line, or when to exit the position. So I bought a forex guide, opened a demo account and started practicing. I'm sure that this is more or less what everyone else before they invested their few hundred dollars.

Well, my dear readers, I can't tell that “beginner's luck” was generous to me. When I placed my very first demo position I lost, but when I analyzed it afterwards (having my book and seminar notes with me) I realized what I've done wrong and next trade I made a profit. When I felt completely confident in my abilities, I opened my very first real trading account with AvaFX.

To tell the truth after my first miscommunication with them (it was about a rollover charge for a crude oil contract), I started to wonder myself that AvaFX might be a scam, but this concern passed when their service representative replied to my request and I quickly understood the reason for this charge (switching one contract to another). This brief miscommunication actually got me thinking why it happened. As I was reading carefully their home page, it suddenly hit me – they have a huge customer base. So it's understandable since avafx has tens of thousands of clients servicing which requires an army of personnel. When deciding whether avafx scam or not, one should also bare in mind that Forex is a huge market and there's huge competition between different forex brokers. To win over even a single client forex brokers are prepared to offer the world on a silver platter with no means or intentions to deliver.

At first I couldn't believe it myself, but if you google “forex” or “forex broker” you get  billions of results – it's overwhelming really. People are lost in this ocean of information spurred on them, they don't know where to go and who to believe. The billions of hits are not surprising since there're thousands of brokers around the world that seek to make profits. They will offer clients heaven and earth, but not always deliver. When brokers delay withdrawals or not answer to e-mails sometimes,  they are immediately proclaimed scam – and that is what, in my opinion, happened with avafx. Some unsatisfied client waited to long for something from avafx, and probably an hour before he received it, he posted an “Avafx scam or not?” thread on some forum.

As is known, personal experience can't be replaced, and my personal experience tells me that Avafx is different. It does deliver on its promises. Its clients do enjoy a wonderful trading platform and not only one. Unlike many other online forex brokers Avafx has developed its own trading platform, although it also offers to trade on the Metatrader and other platforms. AvaTrader's back-office provides streaming news and quotes as well as other useful instruments, so trades who use this platform can generate their own market analysis and don't rely on “analysts”. I have to say that is avafx scam why would the company do that?

Moreover, the fact that avafx has multilingual call center also testifies to its client-orientation. They are not relying on the fact that the world speaks English, because not all the world does, this brokers simply employ trained forex professionals who speak different languages to assist its 50,000 clients. In my humble opinion this how dedication looks like.

One thing that bothered me about Ava FX is their spreads. They charge 3 pip on EURUSD while some of others charge 1-2.5 pips. I did tried trading with a few lower spread companies (including floating spread ones) – and many times I could be more profitable. However, at many other times, I got too many rejects or slippage of the price, where in AvaFX I hardly got any requotes and definitely not slippage, so at least you know what u get.

Also I'd like to remind all the skeptics that despite the smear campaign on the web, this broker is still here – it means that there're many satisfied customers to sustain it. There're people that profit with avafx, there are people who know the difference between genuine dissatisfaction and false forum threads. Again, 50,000 people can't go wrong; they can't be scared by angry competition alone.

As you know nowadays competition can do anything, and competitors are fighting for each individual client. And that's exactly what happened here I think. Because everyone with a computer and an internet connection can register in any forum he wants and post a thread on any subject in the world – so why not use this powerful tool to call Avafx scam? It's really that easy – a computer and internet connection. One more thought on the Avafx scam subject expressed by someone smarter than me: “Reputation takes years to build and seconds to ruin”... And rumors destroy reputations, not only on the internet but in every aspect in life.

Until today I am slightly profitable with Ava FX. I invested about $7500 in total, withdrew $4000, and still have $5000 in my account. Deposits were very quick. Withdrawals were usually quick although once it took almost a week to get my withdrawal. In most cases, I received relatively quick reply to my satisfaction, and although I believe they are a little bit pricy, their bonus program and excellent executions made me continue trading with Ava for almost 2 years now.

The best advice I can give in choosing your forex broker is not to listen to anyone, do your own research, , try first your chosen company with a small amount (10-20% of what you intend to invest), try to trade and withdraw funds, and based on your experience choose the best company for you,  and read  reviews yourself. I'm sure you'll do the right thing. 

You can  read more about our metatrader trading website and make your own review.

 

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