Legit or Quit?

Scam Broker Check 🛡️
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1

I joined a WhatsApp group using Avatrade to trade crypto contracts made some profit now I’m wondering if this is the most elaborate scam in the world or is truly real?
Here is the link I was sent for registration https://www-avatrade.cc/avatrade/register/683588
They also have a mobile app

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2

Hi there,

Thank you for reaching out with your concerns. There are a few red flags in this situation that strongly suggest you’re dealing with a scam:

  1. Contact via social media or WhatsApp – Any broker that contacts you through social media or messaging platforms like WhatsApp is likely a scam. Legitimate brokerages do not use these channels to initiate contact with clients.
  2. Suspicious URL – While AvaTrade is a legitimate brokerage, the URL you sent me is suspicious and has a weird structure (e.g. instead of using “www.” it displays “www-” which is rather unusual). The official AvaTrade website is: https://www.avatrade.com. It should always be a serious red flag when an URL doesn’t match the legit website’s.
  3. Promises of high profits after only a few days – Any broker promising unusually high profits in a very short time frame is a major red flag. Legitimate brokers do not guarantee returns, especially of such a quick and dramatic nature.

Please stop using this provider and try to withdraw your money if possible.

Let me know if you have any further questions.

Best regards,
Andris

3

Thanks for your reply. Over the last few weeks following signals in the group I have got my acct up to 120k. I tried to withdraw 30k and they hit me with a $2500 service fee I’m supposed to pay to complete my withdrawal. I told them that the Avatrade website says there is no service fee withdrawals and they say it’s normal procedure. I haven’t paid it. And of course the payment can’t be deducted from my current trading funds. I wish I knew a way to get my funds off the site, is there any options that you know of?

4

Hey,

I am really sorry to hear about your loss. And you did the right thing not to pay the additional service fee! Legitimate brokers always deduct any fees (if applicable) directly from the trading account balance. Requiring you to pay the fee separately, instead of deducting it from your account, is a common tactic used by scammers to extract more money without granting access to the funds.

Unfortunately, the recovery of funds from scam brokers is an extremely complex procedure and chances of success are rather low.

After investigating numerous money recovery services we found that they are just another layer of fraud. We could not find any that was proved to be legitimate. So, please do not use these services as it will only lead to further losses. You can find more details here:
https://brokerchooser.com/safety/scam/money-recovery-scams.

Regardless, I would recommend checking the following article where we collected a few things you can try to get your funds back: https://brokerchooser.com/forex/regulation/scams#how-to-recover-your-funds-when-scammed.

Please let me know if you have any questions.

Best wishes,
András