Review of AvaTrade
1 star: Bad

Avatrade with their affliate LAra Capital Management

Avatrade , Shadi Dawood, applied aggressive sale techniques to open and add funds to account by giving extra bonus on deposits in MAY 2019 for Lara capital Management's (LaraCM) Managed Accounts only.

The Bonus was dependent on 6 months probation, ie, large amount of trades required unless bonus would be lost.

I was asked to set up an account with LaraCM , LaraCM opened account in Avatrade and LaraCM sent LPOA to Avatrade (without my approval - LPOA not signed by me). I did not have access to the account to adjust the trading.
Trades were made my LaraCM against the trend to destroy the account, when I found this out and telephoned Avatrade to close the trades, I was informed account was locked to me. They said I had to send an email and it would take 24hrs and all trades have to be closed in order to disconnect LaraCM, THIS MEANS I DIDN'T HAVE THE CONTROL OF MY ACCOUNT . Avatrade didn’t allow me to control account. Both of my account blown out within few weeks of opening a trade account. Beware of Avatrade and Lara Capital Management.

Reply from AvaTrade
Dear Baskaran,

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

The case will be thoroughly investigated and you will be contacted as soon as possible.

Kind Regards,
The AvaTrade Team