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Relationship AvaTrade / Advancia
Bernd Kraft
Germany
2023-06-11
ANSWER Dear Sir or Madam, Advancia and Avatrade are two different platforms. Advancia is an unlicensed broker, supposedly in Switzerland, operating outside the regulatory framework, with a warning issued by the Swiss Financial Market Supervisory Authority (FINMA).Avatrade is a trading brand of AVA Goup, and AVA Goup of companies are authorized and regulated in many jurisdictions.1) Ava Trade Markets Ltd is regulated by the British Virgin Islands Financial Services Commission (BVI FSC).2) Ava Capital Markets Australia Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC) with No.406684.3) Ava Capital Markets Pty is regulated by the South African Financial Sector Conduct Authority (FSCA) with No.45984.4) Ava Trade Japan K.K. is licensed and regulated by Japan Financial Services Agency (FSA) (License No.: 1662).5) Ava Trade Middle East Ltd is regulated by the Financial Services Regulatory Authority (FSRA) with license No.190018.6) AVA Trade EU Limited is regulated by the Financial Conduct Authority (FCA) under EEA Authorization—by the Central Bank of Ireland (CBI) under No.C53877.7) ATrade Ltd is regulated in Israel by the Israel Securities Authority (ISA) with No. 514666577.These two platforms look similar by name, but they are not actually associated in any way. For more details about them, please refer to our full review of Advancia and full review of Avatrade.
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How much money should I pay to open an account?
Ruben
Rockville
2023-06-04
ANSWER Advancia is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Advancia fails to disclose its regulatory information and licensing data, a significant indicator of scam. Legitimate brokers always prominently display their accreditation and licenses to instill trust and transparency, whereas the lack of information thereof may suggest the status as an unlicensed broker. Advancia claims in its legal documents that it is in Switzerland. Therefore, it is required to be registered as a bank under the regulation by the Swiss Financial Market Supervisory Authority (FINMA) before operating as a forex broker. However, the FINMA has added Advancia to its warning list for not in the authority's commercial register. You can access the warning here.Regarding your question, we strongly suggest you avoid engaging with Advancia since it is a non-regulated broker carrying significant risks including financial losses and identity theft. Once your money enters its system, there are no rules to safeguard it. Therefore, investors are advised against dealing with unlicensed brokers like Advancia and to choose fully regulated ones instead.
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