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No valid regulatory information, please be aware of the risk!
Note: For some unknown reason, we cannot open AVALONs official site (https://www.avalon-wm.com/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
AVALON is allegedly a crypto broker registered in Iceland with leverage up to 1:100 on the web-based trading platform, as well as a choice of four different live account types.
As for regulation, it has been verified that AVALON does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.20/10. Please be aware of the risk.
From the trading software of AVALON, we learn that clients can trade with crypto-based products, indices, and commodities.
AVALON claims to offer four types of trading accounts - Nano, Mega, Pro and Ultra, with minimum initial deposit requirements of $10, $25, $50 and $100 respectively.
The specified leverage for different account types at AVALON varies between 1:10 and 1:100. Clients on the Nano account can experience leverage of 1:10, while the Mega, Pro and Ultra accounts have leverage of 1:30, 1:50 and 1:100 separately. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Trading Platform Available
The platform available for trading at AVALON is said to be web-based. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
The only actual payment method with AVALON is via a BTC wallet. The minimum initial deposit requirement is said to be only $10, while there is no mention of what the minimum withdrawal amount is.
Credit cards, BTC wallets, and bank transfers are withdrawal methods. However, to prevent money laundering on top of other fraudulent practices, FX regulations require the deposit and withdrawal methods to be the same. The website states that withdrawal requests take five days to process. The website also reveals that there are withdrawal processing and handling fees.
AVALONs customer support can be reached by telephone: +(354)539-5019, email: firstname.lastname@example.org. Company address: Höfðatorg Tower 1, Reykjavík, Iceland.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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