If you are looking for a reliable and trustworthy online broker, you might have come across Avasunion. Avasunion is a forex and CFD broker that claims to offer competitive spreads, fast execution, and a variety of trading instruments. But are they really as good as they sound? Or are they a scam that you should avoid at all costs?
In this review, we will examine Avasunion’s background, regulation, trading conditions, platform, customer service, and reputation. We will also compare them with some of the best brokers in the industry and give you our honest opinion on whether they are worth your time and money.
Background and Regulation
Avasunion was founded in 2019 and is based in St. Vincent and the Grenadines. According to their website, they are regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines under license number 25434 BC 2019. However, this does not mean much, as this is a very weak and offshore regulator that does not provide much protection or oversight to traders.
In fact, the FSA of St. Vincent and the Grenadines has issued a warning on its website stating that it does not regulate forex or CFD brokers and that it is not responsible for their activities. Therefore, Avasunion is essentially an unregulated broker that operates in a jurisdiction with no financial laws or regulations.
This is a huge red flag, as it means that Avasunion can operate however they want without any accountability or transparency. They can manipulate prices, cancel trades, withhold withdrawals, or even disappear with your money without any consequences. There is also no guarantee that they keep your funds in segregated accounts or that they use reputable liquidity providers.
Avasunion offers four types of accounts: Standard, Silver, Gold, and Platinum. The minimum deposit for the Standard account is $250, which is quite high compared to other brokers. The spreads start from 2.8 pips for the Standard account and go down to 0.1 pips for the Platinum account. However, these spreads are not fixed and can vary depending on market conditions and volatility.
Avasunion also charges commissions on some of their accounts. The commission for the Standard account is $10 per lot, which is very high and adds to the already high spreads. The commission for the Silver account is $9 per lot, for the Gold account is $7 per lot, and for the Platinum account is $5 per lot.
Avasunion claims to offer leverage up to 1:400, which is very risky and can lead to significant losses if not used wisely. They also offer a variety of trading instruments, including forex, stocks, indices, commodities, cryptocurrencies, and ETFs. However, some of these instruments may not be available for all account types or regions.
Avasunion provides its clients with the MetaTrader 4 (MT4) platform, which is one of the most popular and widely used trading platforms in the industry. MT4 is known for its user-friendly interface, advanced charting tools, technical indicators, automated trading systems, and market news. MT4 is also compatible with various devices and operating systems, such as Windows, Mac OS, iOS, Android, and Web.
However, Avasunion does not offer any other platform options besides MT4. This means that traders who prefer other platforms such as MetaTrader 5 (MT5), cTrader, or proprietary platforms will not be able to use them with Avasunion. Moreover, Avasunion does not offer any additional tools or features that could enhance the trading experience or performance of their clients.
Avasunion claims to have a professional and responsive customer service team that is available 24/5 via phone, email, live chat, and WhatsApp. However, this may not be true based on the feedback and reviews from their clients online. Many traders have complained about Avasunion’s poor customer service quality and attitude.
Some of the common issues reported by Avasunion’s clients include:
- Long waiting times and delays in getting a response
- Rude and unprofessional agents who do not answer questions or solve problems
- Pressure and harassment to deposit more money or upgrade accounts
- Refusal or difficulty to process withdrawal requests
- Lack of communication or support in case of disputes or complaints
Avasunion has a very bad reputation among traders online. There are numerous negative reviews and testimonials about them on various websites and forums such as Trustpilot, Forex Peace Army, Scam Broker Investigator, etc. Most of these reviews accuse Avasunion of being a scam broker that engages in fraudulent and unethical practices.
Some of the common allegations against Avasunion include:
– Manipulating prices and spreads to cause losses
– Canceling profitable trades or closing positions without consent
– Blocking or freezing accounts without explanation
– Denying or delaying withdrawal requests or charging hidden fees
– Using aggressive or deceptive marketing tactics to lure unsuspecting traders
– Ignoring or threatening clients who want to withdraw or complain
Based on our research and analysis, we do not recommend Avasunion as a broker. They are an unregulated and offshore broker that operates in a shady and risky environment. They have very unfavorable trading conditions, a limited platform choice, a poor customer service, and a terrible reputation. They have also been accused of being a scam broker that cheats and steals from their clients.
Therefore, we advise you to stay away from Avasunion and look for a better and more reliable broker. There are many reputable and regulated brokers that offer superior trading services and conditions, such as eToro, Plus500, XM, etc. These brokers have proven track records, positive reviews, and high ratings from traders and experts alike. They also have strong regulation, security, transparency, and customer support.
We hope this review has been helpful and informative. If you have any questions or comments, please feel free to leave them below. Thank you for reading and happy trading!
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