Avalon Trade: customer reviews about the company’s performance in 2022.
Frauds and Swindles: Avalon Trade Under Scrutiny
One of those dealers, Avalon Trade, is a clear example of ambitious plans and tales of impressive successes. However, there is a risk. Unlike honest corporations engaged in real business and providing traders with opportunities to earn, this intermediary is more concerned only with its financial gain. This is evident from the opinions that have already appeared in cyberspace. In this review, we will take a closer look at what kind of depravity this demon trades and why one should not get involved with it.
Broker’s Key Data
According to Avalon Trade, the organization has been successfully building its business since 1919 (although it actually indicates experience for the last 5 years), providing opportunities for investing, financing startups, mortgages, and car loans. The platform features the following indicators:
- 37,300 open accounts,
- 250+ assets for trading,
- 341,720 daily transactions,
- $83 million trading volume per day.
Such numbers are unlikely to be reliable. Firstly, the Avalon Trade website was launched only on October 18, 2022.
Secondly, the website itself is still in the process of being filled. When visiting some sections, we encounter either placeholders or a 403 error (as with internal documents). The site is clearly rushed to launch the financing attraction process as quickly as possible.
It is worth noting a likely exaggeration about the widespread presence of the company. According to statements, it has offices in:
- Russia,
- Kazakhstan,
- Canada,
- Australia,
- USA.
However, only one address is listed on the platform – in the Bahamas. Even this address turned out to be fictitious. Another telecommunication company is located at that spot.
The company’s history also claims that in 2015, its main office moved to the One Detroit Center building (in the USA) and was later renamed Avalon Trade Detroit Center. This is simply a lie. One Detroit Center still exists as it was originally. However, Avalon Trade is not among the tenants.
The phone and email address on the platform are fake. If financial or technical issues arise, you cannot expect a prompt resolution. The company only envisaged one-way communication. Once the client stops being profitable for them, communication ceases.
Legal Aspects
Avalon Trade does not provide official documents confirming the legality of its activities. Even if one assumes that the company has offices in the USA and other countries listed on its website, it is required to have approvals from regulators in those jurisdictions.
We have analyzed the databases of local regulators and found that Avalon Trade is yet another fraudulent project. It does not have a brokerage license. Below are the results of the check in the registry of the American financial regulator SEC.
The company actively promotes itself in Russian-speaking countries but does not hold licenses from the Bank of Russia or regulators of Kazakhstan and Belarus. Traders’ funds are not protected. In the event of financial problems, one will have to rely on their own resources, as regulatory authorities cannot exert pressure on a fictitious company. Reviews from deceived clients only confirm this fact. They are left blaming themselves.
At the bottom of the avalon-trade.eu site, it is clearly stated that the company does not provide services to residents of the USA, Israel, Belgium, Iran, Syria, Israel, Japan, and several other countries where it is prohibited by law. Thus, fraudsters shift all responsibility for the loss of funds onto their clients. According to critics, proving their innocence is practically impossible.
Trading Strategies
Among the main advantages of Avalon Trade, the following should be highlighted:
- The most advanced equipment,
- Free account opening,
- Qualified 24/7 support.
At the same time, scammers do not allow testing the platform functionality without investments, as they immediately demand investments. To not scare off users, they set a fairly low entry threshold. You can start working with $150 in your pocket (although recommended amounts start from $500). You are offered a choice from the following options:
- For a newbie. The minimum deposit is $500. The only feature is the presence of leverage of 1:100 and instant trade execution.
- Experienced. To open an account, it is required to deposit at least $1,000. The difference from the previous account is having investment insurance and access to deals with precious metals and digital currencies.
- Professional. The entry threshold is $5,000. Additional advantages include round-the-clock customer support and deposit protection.
There are no details regarding the withdrawal procedure. The fake broker only claims to have a variety of methods for deposit/withdrawal, and the trader can choose the most convenient one.
Reviews in the Russian-speaking Internet
Avalon Trade has not been around for too long but actively advertises its services and attracts new users, hence reviews have already emerged. Users have nothing positive to say about this company. Former clients regret their choice, having dealt with this quite dubious project and entrusted it with their funds. They do not recommend others to repeat their mistakes.
You can also contribute to the discussion and share your experience. This will help others discover the truth about the company, which is trying to deceitfully take money from others. Leave your reviews on our website.
Fraud Scheme
Fraudsters from Avalon Trade prey on victims who, seeking easy profit, lose vigilance. They believe in empty promises, without involving legal aspects.
Here are swindlers who at first play on the field of profitable deals, and when a trader tries to increase the volume of transactions, they offer to install AnyDesk. This application is exploited by scammers for their own interests. They can gain access to the deposit account and cash it out to zero. By the time the user discovers what has happened, it will be too late for a reaction.
In addition, fraudsters do not shy away from the possibility of accessing the user’s personal data. Later, they may resell it to colleagues and earn additionally.
Conclusions
We do not recommend interacting with Avalon Trade, this fraudulent project deprives traders of profit opportunities. Losses can reach thousands of dollars, as confirmed by reviews from former clients. Be vigilant and do not fall for deception.