AvalonMarkets poses as an honest broker firm that wants to give you the best trading experience. Yet beneath this is an offshore broker that is nothing compared to what they promise. You would do well to read this AvalonMarkets broker review to know what experts think.
In our bid to keep forex traders from scam brokers, we have made it our duty to review forex broker websites. That way, we can help you tell which one is legit and which one’s not. This review tells you all you need to know about AvalonMarkets broker.
About AvalonMarkets Broker
AvalonMarkets is the trade name of a financial service company; AvalonMarkets Capital Advisors Corporation. According to the contact info of avalonmarkets.com, they are located in London, England. Furthermore, they claim to be registered under the Securities Exchange Commission. They trade in forex, indices, commodities, and Share CFDs.
However, when we take a look through avalonmarkets.com, we find more than enough reason to doubt their credibility.
Avalonmarkets.com: Red Flags Found!!!
We found these red flags on avalonmarkets.com. You just might want to avoid this broker.
AvalonMarkets Withdrawal and Deposit
There is no minimum deposit explicitly stated by Avalonmarkets. They offer Skrill, PerfectMoney and cryptocurrency as the methods of making deposits, however, the first two methods are unavailable in real sense. Leaving cryptocurrency as the only payment gateway is a typical illicit broker move. This is because the transactions are untraceable and irreversible.
The minimum withdrawal is $500; an extremely high amount, and the only withdrawal gateway is of course, bitcoin. The use of cryptocurrency for transactions by this broker, combined with the absence of Terms and Conditions for this broker all but confirms its illegitimacy.
AvalonMarkets.com Trading Platform
What avalonmarkets.com presents to us is not a trading platform. It does not contain the necessary tools for forex trading. The platform presented seems to be some kind of investment platform instead, with a Return Of Investment (ROI) scheme.
Since this is not even a real trading terminal, there is no maximum leverage, no lot size, spread, etc. Without a trading platform, AvalonMarkets cannot be called a broker. Meanwhile, we advise our readers to trade with brokers that use the Metatrader 4 or Metatrader 5 trading platforms. These are the best in the forex market currently.
AvalonMarkets Licensing and Regulation
AvalonMarkets brokers claim to be located in the United Kingdom, which would mean they should be regulated by the FCA. However, the claim to be registered by the Securities and Exchange Commission, a US agency that’s got nothing to do with forex trading. If they were registered in the United States, it would be done by the CFTC and the NFA. Since neither the CFTC nor the NFA are involved, this broker isn’t tied to the US.
A quick check through the FCA registry and we discover that the broker does not exist there either. This only goes to say that AvalonMarkets is an UNREGULATED broker. Unregulated brokers are illegal as they do not have licenses to operate.
Conclusion: Is Avalonmarkets.com a Legit Broker?
No! AvalonMarkets is an unregulated broker; they operate outside of forex laws and are termed offshore brokers. Offshore brokers are illegal in the forex market, and a trader’s worst nightmare.
Hence, any funds you deposit with them is at maximum risk. We do not recommend that you trade with this broker. We advise that you deal with a transparent broker, licensed by a reputable agency.
If however, you wish to add something else about this broker, feel free to use the comments section.
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