ANSWER Considering its lack of the necessary authorization and unreasonable practices, AvaCapitalTrade is a scam.AvaCapitalTrade claims to be located in the UK. It uses an address that is shared by many other companies, which is a red flag. It claims to be a British company, but it does not have the authorization from the Financial Conduct Authority (FCA), the financial regulator in the UK. The FCA issued a warning against AvaCapitalTrade and advised the public to avoid it, as it solicits investors in this country without their permission.Therefore, AvaCapitalTrade is a fraudulent company that tries to deceive investors with false claims and illegal practices. It is not regulated by the FCA and poses a high risk of losing money. Investors should stay away from it and report any suspicious activities to the authorities. To mitigate the risks of fraud and identity theft, we strongly suggest investors opt for a fully regulated broker instead.
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