Avia is an investment program from the Manage Forex group. It monitors market conditions, evaluates the open positions, and forms an effective trading plan as per the vendor. Founded in 2017, the FinTech company provides managed accounts and copy trading services.
The company comprises a team of ambitious and intellectual members of varied expertise with all of them focused on becoming a long-term trading partner of clients. We could not find info on the developer or the team members.
From the website info, the company has its headquarters in Ontario, Canada, and an office in Florida, United States. The location address and phone number are present for the offices. An online contact form and a live chat feature are also present for support.
Managed account services are popular because of the transparency they offer. The secure and segregated accounts help in hassle-free fund investment. But with so many services available now, you can find th4 process of choosing the right service overwhelming. Fortunately, we have made your task simple and easy with our lists of the best FX trading services. Have a look at our list of the top Managed Account services, which help you find a viable service easily.
The vendor provides the details of the Avia program on the official site. Here are the main things that are focused on in the investment offer:
- Supports all major currency pairs.
- Risk management starts at an early phase.
- The main focus is on macro fundamental news.
- The strategy used is customized to every customer based on the risk tolerance level chosen by the customer.
- Four levels of risk tolerance are present namely, conservative, aggressive, very aggressive, and moderate.
- Avia is not a fully automated system. It is 70% automated and uses a 30% discretionary approach. Market sentiment, daily planning of trades, and defensive interventions form the discretionary approach.
The fee structure is performance-based with the performance fee ranging from 36% for an investment of $3000 to $5000 to 25% for investments of $150000 to $250000. As per the vendor info, the leverage needed starts from 1:50 up to 1:500 or greater leverage. In general, the performance fee reduces with a higher investment amount. When compared to the average fee structure of competitor services, the price quoted here looks expensive.
How it works
For using this service, a customer should have a minimum of one year of experience in investing or trading and the recommended minimum deposit is $3000. To use the service, you have to choose a recommended broker that satisfies the margin and strategy requirements of the company. The next step is the funding of the account and completing the investor form. After you fulfill the requirements like furnishing your MT4 credentials and signing an e-agreement, the service will start managing your account.
There is no mention of the strategy used for this system. This is very disappointing. Instead, the vendor informs that the strategy is customized based on the risk tolerance level of the investor. The vendor mentions some important requirements such as a leverage of 1:500 for accounts with funds less than $40000 and unlimited open positions. You need to allow hedging and use of lot sizes of 0.01. With the specified lot sizes the company will be able to manage the risk more efficiently.
The vendor provides a live trading result verified by the FXBlue site. Here is a screenshot of the GBP account that started in May 2021 with a deposit of £70000.
From the trading stats, a total profit of 53.2% is present with monthly and weekly returns of 19.2% and 4.3%. The peak drawdown is -6.0% and the profit factor is 2.48. A risk to reward ratio of 9.69 is present which is very high considering that this is an account using conservative risk. From the low profit factor and risk to reward ratio, it is clear that the strategy used is not effective and is of the high-risk category.
We found one user review for the company on the Forex Peace Army site. Here is a screenshot of the feedback:
From the review, it is clear that the company uses high-risk strategies that endanger your account.
For an unknown reason, the devs decided to rebrand their product and change some information in their presentation to represent us a new Alphi system. The devs claim that with Alphi we can get 9-12% of monthly return trading with a low drawdown of 10%. The recommended brokers are FBS, LMFX, EagleFX, HugosWay or CedarFX.