Thinking of getting into business with AvaChoice? Here is what you must know about this broker. Carefully read this review to find out if avachoice.com is the trading platform you will want to trade with.
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About AvaChoice Broker
AvaChoice is an offshore brokerage company with a lot of promises for traders. The broker is operated by Vegatek Green Trade Kft with the address showing Hungary. It also claims to be located in Ireland and Singapore.
According to the broker, “Avachoice is one of the fastest-growing online Forex brokers, who offers first-rate customer experience in the industry. The top priority of the company is to meet all of the needs of its traders”.
There are different account types AvaChoice offers. See below.
In spite the trading instruments AvaChoice claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
avachoice.com: Reasons to Avoid This Broker
Firstly, avachoice.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because no financial authority monitors its financial activity.
Secondly, we noticed avachoice.com has no demo account for traders. Since traders can’t test AvaChoice on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with a scam broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, AvaChoice charges fee of 25 – 50 Euro for every wire transfer. The following information shows that:
For inactive account, AvaChoice charges forex traders with administrative fees of 5% or 25Euros or USD.
Minimum Deposit
AvaChoice minimum deposit is said to be $250.
As for the payment methods, we can make payment via Credit/ Debit card, Bank Wire Transfer and other e-wallets. But, you should not consider making any payment with this broker because it is a risk. So beware!
AvaChoice Platform
AvaChoice offers web based trading software and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, it can get up to 1: 500. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
AvaChoice Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is avachoice.com a Reliable Broker?
No, avachoice.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
More so, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.