Review of AvaTrade
1 star: Bad

Avoid this Broker and Management…AVATRADE & LaraCM

Avoid this Broker and Management company
There appears to be collusion between the 2 companies which should be against any Conflict of Interest
Avatrade offered very generous bonus if account opened with LaraCM and deposits made in May
However, within 2 weeks $20k account was reduced to zero
As a Market Maker, Avatrade directly profited from the idiotic trades placed by LaraCM involving Gold, Oil and GBPUSD, all against the trend, to get one wrong is understandable, but ALL 3 !
The claims made by LaraCM on their performance were not backed up when requested
Furthermore, I was locked out of the account, I was informed by Avatrade I had to send an email and it would take up to 24hrs to close the trades

Have yet to hear back from Avatrade on all the details involved in my loss, but so far my dealings with them in customer service has been terrible. Awaiting official response before taking case to Ombudsman
Avatrade are certainly not interested in their clients, other than taking their money, and as they are a Market Maker, they are on the opposite side of your trade
Alooth they claim to be headquartered in Ireland, with Irish Directors, all dealings have been with people mainly in Middle East, none in Ireland, furthermore, their Irish headquarters appears to be a nondescript office building with to markings of the company
Does Dáire Ferguson as CEO exist?
Maybe they are trying to recoup the €210,454.00 in tax default last year. (refer Irish Times 12 June 2018)

Unfortunately, system wouldn't allow me to give ZERO STARS

Reply from AvaTrade
Dear Mr. Thomas,

Thank you for posting your review and thank you for providing your account number.

Your review has been escalated and you will be contacted soon.

Kind Regards,
The AvaTrade Team