Forex trading is booming thanks to great opportunities to earn money, attracting both traders and scam brokers. As for the latter, we want to help the former stay safe while buying/selling stocks online. That is why we hunt down and expose scamming traders from – Italy + Germany + Canada. In today’s LTD FX detailed review, we deal with one of many shady brokerage firms–the LTD FX broker.
Before moving forward, let’s have a quick peek at LTD FX trading. This phony broker is part of BestProducts Ltd, which is behind two scam brokers – LTD FX and Finbinance. The former allegedly operates from the United Kingdom and Canada.
That is impossible without having the necessary trading credentials and regulations, which LTD FX doesn’t hold. Moreover, both LTD FX and Finbinance can be found on a warning list issued by two financial regulatory agencies – the Italian CONSOB and the Spanish CNMV.
On top of that, LTD FX’s offer is based on a pack of lies, such as that this bogus brokerage firm possesses numerous awards from prestigious events (London, Dubai, Germany), provides plenty of learning materials, lots of tradable assets, modern platforms, and guarantees total transparency.
So, shall we start with the LTD FX review?
What is more, we strongly advise you not to invest inCresCapital,AXCapitalandNorthern Bitsfraudulent brokers.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||CONSOB|
|Owned by:||BestProducts Ltd|
|Headquarters Country:||Marshall Islands|
|Supported Platforms:||Web trader|
|Minimum Deposit:||250 USD|
|Cryptocurrencies:||Yes (Bitcoin, Tether, Ethereum, Ripple, Litecoin)|
|Types of Assets:||Stocks, indices, cryptocurrencies, and forex pairs|
|Free Demo Account:||No|
|Accepts US clients:||No|
What Do We Know About The Regulation of CFD-Broker LTD FX?
As we previously said, LTD FX claims that it is registered in the UK and Canada, which are two of the most stringent jurisdictions and also premium financial hubs. To legally provide services in these markets, a broker must be authorized by the British FCA and Canadian FCAC.
So, no way that a brokerage firm can be licensed under these top-level financial market regulators and blacklisted by other financial authorities – in this case, CONSOB and CNMV. Other than this, there is no information in the FCA and FCAC registers about LTD FX. So, obviously, it is an unlicensed broker, and as such, it can’t be trusted with the money.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Instead of dealing with this unauthorized broker, there are many reasons why investing with regulated brokerage firms by FCA, BaFin, and ASIC, among others. First and foremost, your fund’s safety depends on it.
Trading is a risky endeavor but is more dangerous with untrustworthy companies. Unlike them, credible forex providers minimize trading risks by offering negative balance protection and segregated accounts. Not only that, they keep your money in top-tier banking institutions, and traders are covered by compensation schemes (up to 100K EUR).
In addition, accredited forex brokers must abide by the law, otherwise, they are fined, prosecuted, and banned. Hence, you can’t find them offering manipulated spreads, ambiguous withdrawal policies, too high leverage, and generous bonuses.
Is LTD FX a Legitimate Broker Or A Fraud?
As a part of BestProducts, LTD FX operates from an anonymous location. Despite reportedly being registered in the UK and Canada, it lacks the necessary permits. As such, it is blacklisted by CONSOB and CNMV and offers unprofessional services – a clear sign to stay away from it.
LTD FX Available Online Trading Platform
About LTD FX trading platforms, this fraudulent broker guarantees trade on the go on its web trader and mobile trading platform. Even if it is true, which we doubt, it still does not change the fact that LTD FX is a pure trading scam.
Although the web trader has some useful features, it can’t be in the same league as MetaTrader 4, MetaTrader 5, cTrader, and Sirix. These powerful trading programs are widely used due to being reliable, user-friendly, and offering a range of tools (e.g., automated trading, market analysis, stop loss, copy trading).
LTD FX Accounts Overview
When it comes to trading accounts at LTD FX, there are several options available; the overview is as follows.
- Entry: 250 EUR minimum opening balance, 30% bonus, spreads at 1.5 pips, leverage 1:500
- Silver: 2,500 EUR minimum opening balance, bonus 50%, spreads at 1.2 pips, leverage 1:500
- Gold: 10,000 EUR minimum opening balance, 100% bonus, spreads at 0.8 pips, leverage 1:400
- Platinum: 50,000 EUR minimum opening balance, 100% bonus, zero spreads, leverage 1:200
According to the minimum required deposit, 250 EUR is considered too high since you can start trading with legitimate companies for as little as 10 USD. Also, about the offered trading conditions, we will discuss them in more detail later in the article.
Deposit and Withdrawal Fee
Speaking of payment methods supported by this bogus broker, you can transfer to and from accounts via credit and debit cards, wire transfers, and electronic wallets. Although these are safe and convenient payment means, we are skeptical of their availability at LTD FX. It is more likely that this fraudster accepts only crypto wallets since they are difficult to chargeback.
Regarding withdrawal fees, this financial swindler charges 50 USD for bank transactions, 25 USD plus a 10 USD processing fee for credit cards, and 25 USD for digital wallets. Concerning other costs, there is a 10% fee for payoffs from unverified accounts and those that haven’t reached a minimum of 200 turnovers. Finally, minimum withdrawals are 250 USD for bank transfers and 100 USD for credit cards.
LTD FX – Countries Of Service
Despite all the baseless statements coming from this broker, it isn’t authorized to provide services in any markets. As per its website and alleged UK and Canada offices, we can assume that this fake broker is focused on European and North American markets. These are very strictly regulated jurisdictions, and not only that all brokers must be regulated but they must offer services fulfilling legislation and standards.
If you want a UK-based broker, always go with FCA-licensed companies.
Also, remember the names of theRobexcoin,Cryptos CircusandBitonexttrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
LTD FXAwards – Company Achievements
Apropos of accolades, LTD FX attempts to instill your trust and draw your attention by lying about being an award-winning brokerage service. As per its web page, LTD FX has the following prizes: the best CFD broker, the best trading experience, and the best execution broker.
Keep in mind that under no circumstances an exposed broker scam can hold any award. These self-proclaimed appreciations are just part of its dirty tricks used to rope you into trading.
What Is Known About LTD FX’s Trading Conditions?
With respect to terms of exchange, LTD FX offers manipulated conditions to entice you with. First, there are generous bonuses on every deposit, ranging from 30-100%. However, they come with prerequisites and can’t be withdrawn. Hence, they are banned in most jurisdictions because of misuse.
Then, there is leverage from 1:200 to 1:500. Bear in mind that it is capped at 1:30 in the UK/EU and 1:50 in the USA for retail traders. So, more violations of the rules and grounds for avoiding LTD FX.
Scammed by LTD FX Broker? – Let Us Hear Your Story
But if you are one of the victims of this unscrupulous broker, you should report it to the relevant authorities as soon as possible. Also, don’t forget to share negative LTD FX reviews to help others avoid this cyber fraud. Don’t be ashamed since scams can happen to anyone. Anyway, it is possible to get your money back. Cyber security experts can assist you with a chargeback.
But What Is A Chargeback?
With reference to a chargeback, it is a process of retrieving your defrauded funds. For example, credit cards and bank transactions can be reversed as well as some e-wallets (Paypal, Neteller, and Skrill). Crypto payments are the preferred choice of con artists since they demand professional know-how to be traced and annulled.
Anyhow, if you need help with any type of cashback, you can contact our company and schedule a free consultation with our chargeback specialists.