A-DuoVation – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
A-DuoVation - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Depositupdated 2024
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://aduovation.com
Founded: 2024
Regulations: Not Licensed or Regulated
Languages: Russian, English, Spanish, German, French, Italian, Japanese
Deposit Methods: Cryptos
Minimum Deposit: $150
Free Demo Account: Not Offered
Number of Assets: Unknown
Types of Assets: Stocks, Indices, Commodities, Currencies, Metals, Cryptocurrencies,
Trading Accounts and Conditions
A-DuoVation offers their clients the following types of trading accounts:
- Basic: This account requires a $150 minimum deposit. The leverage offered here is 1:100.
- Standard: This account requires a $1,000 minimum deposit. The leverage offered here is 1:500.
- Exclusive: This account requires a $10,000 minimum deposit. The leverage offered here is 1:500
Spreads, commissions, etc. – the other trading conditions – are not specified on this broker’s website. However, when we checked their trading platform, the spreads given for the major currency pairs were at 0.1 pips.
A-DuoVation – Advantages
There are no advantages to trading with A-DuoVation.
A-DuoVation – Disadvantages
Given here are all the disadvantages that clearly show us that A-DuoVation is a scammer:
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Lack of Regulation
A-DuoVation claims to be a financial services company that is based in Cyprus. The broker also claims to be supervised and regulated by the Dubai Financial Services Authority (DFSA) and the Cyprus Securities and Exchange Commssion (CySEC). However, in the broker’s Terms and Conditions, they claim that they are based offshore, in Vanuatu.
We checked the online registers of both the regulators that this broker claims to be regulated by. Neither the CySEC nor the DFSA have any record of this broker on their registers.
All we have found out about this broker is that they have lied about their regulation status and that A-DuoVation is not regulated at all. This tells us that we are dealing with a scammer here.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Warning Against Broker
When you open A-DuoVation’s website, the default language is Russian. This means that this broker is primarily targeting Russian investors. This is something that has also been picked up by the Russian financial regulator, the Bank of Russia.
The Bank has therefore issued a warning against this broker, letting all Russian traders know that dealing with this broker would not be wise. The regulator clearly states that this broker is showing signs of illegal professional securities activities. The bank also provides us with both the domain names that this broker owns – aduovation.com and aduo-vation.co.
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Lies About Trading Platform
A-DouVation claims to offer their clients a great trading platform. The broker claims that their platform is intuitive and easy to use. That it offers fast and reliable order execution and that both novice traders and pro traders alike can use this software.
These claims are all lies.
When we accessed A-DuoVation’s trading platform, we found out that it is nothing more than a basic, web-based trading software with minimal functionality. There is no option for customization, barely any charting tools and none for market analysis. The maximum you can do on this platform is place a few orders.
A broker that offers a sub-standard trading platform is clearly a scammer.
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Issues with Trading Conditions
A-DuoVation offers their clients 3 different types of trading accounts. The minimum deposit for the first account type is $150, which is very reasonable. However, the other two account types have extremely high minimum deposits, something that would not be affordable for most traders.
This broker also claims to offer their clients a wide range of trading instruments, but we could not see any of these on their trading platform; there were just a few trading instruments up for trading.
On their platform, A-DuoVation offers a spread of just 0.1 pips. This is extremely low and therefore very advantageous for traders. However, the broker omits to mention what their commissions and fees are. The cost of a single trade is the spread plus the commission. So, that attractive spread this broker gives is not the whole truth.
The maximum leverage of 1:500 is illegal in most of the countries that this broker targets. Due to the high risk associated with high leverage ratios, most regulators have banned high leverages in their jurisdictions. So, A-DuoVation is offering is not only risky, but also basically illegal.
Other trading conditions are simply not there.
This kind of incomplete data on something so critical tells us that this broker is a scammer.
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Lies About Payment Methods
A-DuoVation claims to offer their clients eight different payment providers. And on their website, we see logos of some of the top banking institutions in the world – Goldman Sachs, Morgan Stanley, J P Morgan Chanse, Barclays and so on.
However, when we checked their payments section, we found out that the only way to make payments with this broker is via cryptos, or, digital currencies.
When a broker offers only a single payment option, it is a red flag. But when a broker offers only cryptos as a payment option, it is a clear indication of a scam. Crypto payments are dangerous because they are all anonymous and irreversible. Which is why it is the preferred mode of payment for scammers.
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Issues with Withdrawal Policy
A-DuoVation does not tell us anything about their withdrawal policy. We do not know what is the minimum amount you are allowed to withdraw. We do not know what is the maximum amount you are allowed to withdraw. We are also not told what the withdrawal request processing time. Neither do we know if there are any fees or taxes attached to withdrawals. And finally, we do not know if this broker has any conditions in place that need to be fulfilled before you will be allowed to withdraw your funds.
Such lack of transparency is a clear sign that A-DuoVation cannot be trusted.
Conclusion
A-DuoVation is a scammer and therefore cannot be trusted – not with your funds and certainly not with your personal information.
A-DuoVation
Pros
- None
Cons
- Lack of Regulation
- Warning Against Broker
- Lies About Trading Platform
- Issues with Trading Conditions
- Lies About Payment Methods
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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