Aviva Review

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Summary: The overall evaluation of Aviva as a forex broker reveals significant concerns regarding its regulatory status and user experiences. Users report a lack of trust due to the revocation of its FCA license, alongside mixed reviews on customer service and trading conditions. Notably, Aviva offers a range of insurance and investment products, but its credibility as a forex broker remains questionable.
Note: It is crucial to recognize that multiple entities may operate under the name "Aviva," leading to confusion regarding regulatory oversight and legitimacy. The following analysis aims to provide a fair and accurate assessment based on available data.
Category | Rating (out of 10) |
---|---|
Account Conditions | 3 |
Tools and Resources | 5 |
Customer Service and Support | 4 |
Trading Setup (Experience) | 3 |
Trustworthiness | 2 |
User Experience | 4 |
We score brokers based on a comprehensive analysis of user reviews, expert opinions, and factual data.
Founded in 2016, Aviva operates primarily in the United Kingdom, offering a variety of services, including insurance, investments, and retirement solutions. However, it lacks a valid regulatory framework, having had its FCA license revoked, which raises red flags for potential clients. The broker does not provide access to popular trading platforms like MT4 or MT5 and instead appears to rely on its proprietary platform. The asset classes available for trading include forex and cryptocurrencies, but the absence of a demo account and clear trading conditions limits its appeal.
Regulatory Regions: Aviva is registered in the United Kingdom but currently operates without any valid regulation, following the revocation of its FCA license. This absence of oversight makes it a risky option for traders.
Deposit/Withdrawal Currencies: The specifics regarding accepted currencies for deposits and withdrawals are not clearly stated in the available reviews. However, it is noted that cryptocurrency deposits are accepted, which adds another layer of risk due to the irreversible nature of crypto transactions.
Minimum Deposit: Information regarding the minimum deposit is sparse, but it is generally suggested that potential traders should be cautious about depositing funds without clear guidelines.
Bonuses/Promotions: There are no significant details about bonuses or promotional offers. Given the broker's unregulated status, any bonuses offered may come with stringent withdrawal conditions.
Tradeable Asset Classes: Aviva provides access to forex and cryptocurrency trading. However, the lack of a robust trading platform and limited asset classes may deter serious traders.
Costs (Spreads, Fees, Commissions): The cost structure is not explicitly detailed, but negative user reviews indicate that spreads may be higher than industry standards, which could affect profitability.
Leverage: The leverage offered by Aviva is not disclosed, but it is essential to note that high leverage can pose significant risks, particularly with an unregulated broker.
Allowed Trading Platforms: Aviva does not support widely-used platforms like MT4 or MT5, opting instead for a proprietary solution, which has received mixed reviews from users regarding its functionality.
Restricted Regions: Specific information about restricted regions is not provided, but potential clients should be aware of the broker's unregulated status when considering their location.
Available Customer Support Languages: Customer support is reportedly available in multiple languages, but user reviews indicate that responsiveness and effectiveness are areas of concern.
Category | Rating (out of 10) |
---|---|
Account Conditions | 3 |
Tools and Resources | 5 |
Customer Service and Support | 4 |
Trading Setup (Experience) | 3 |
Trustworthiness | 2 |
User Experience | 4 |
Account Conditions: Users have expressed dissatisfaction with account conditions, citing a lack of transparency and unfavorable terms. The absence of a demo account is particularly concerning for new traders looking to familiarize themselves with the platform.
Tools and Resources: While Aviva offers some tools for traders, the general consensus is that these resources are insufficient compared to other brokers. Users have noted that educational materials and trading analytics are lacking.
Customer Service and Support: Customer service has received mixed reviews, with some users reporting long wait times and unhelpful responses. This inconsistency can be frustrating, especially when addressing urgent trading issues.
Trading Setup (Experience): The trading experience is hindered by the lack of a reliable platform. Users have reported technical difficulties and a lack of essential trading features, which can impact trading performance.
Trustworthiness: The revocation of Aviva's FCA license has severely impacted its trustworthiness. Many users express concerns about fund security and the overall legitimacy of the broker.
User Experience: Overall user experience is marred by technical issues and a lack of comprehensive support. While some users appreciate the range of services offered, the negative aspects outweigh the positives in many reviews.
In conclusion, while Aviva may provide a variety of insurance and investment products, its status as a forex broker is overshadowed by regulatory concerns and user dissatisfaction. Potential clients are strongly advised to conduct thorough research and consider the risks associated with trading with an unregulated broker like Aviva.