Because to fantastic earning potential, forex trading is increasing, luring both investors and dishonest brokers. We wish to assist the former in remaining secure when purchasing and selling equities online. Because of this, we look for and expose fraudulent traders from Italy, Germany, and Canada. Today’s full study of LTD FX focuses on the LTD FX broker, one of numerous dubious brokerage businesses.
Let’s take a short look into LTD FX trading before continuing. This fraudulent broker is a subsidiary of BestProducts Ltd, the organization behind the dubious LTD FX and Finbinance. The former is said to operate out of Canada and the United Kingdom.
Without the required trading qualifications and rules, which LTD FX lacks, that is not feasible. Moreover, the Italian CONSOB and the Spanish CNMV, two financial regulatory bodies, also included LTD FX and Finbinance on their warning list.
Furthermore, LTD FX’s offer is founded on a number of outright lies, including that this fictitious brokerage firm has won numerous accolades from illustrious competitions (in London, Dubai, and Germany), offers a wealth of educational resources, a large selection of tradable assets, cutting-edge platforms, and promises complete transparency.
Broker status: Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: Ltd-fx.com
Blacklisted as a Scam by: CONSOB
Owned by: BestProducts Ltd
Headquarters Country: Marshall Islands
Foundation year: N/A
Supported Platforms: Web trader
Minimum Deposit: 250 USD
Cryptocurrencies: Yes (Bitcoin, Tether, Ethereum, Ripple, Litecoin)
Types of Assets: Stocks, indices, cryptocurrencies, and forex pairs
Maximum Leverage: 1:500
Free Demo Account: No
Accepts US clients: No
CFD-Broker LTD FX Regulation
As we’ve already stated, LTD FX asserts that the company is registered in the UK and Canada, two of the strictest legal systems and prestigious financial centers. A broker has to be approved by the British FCA and Canadian FCAC in order to lawfully offer services in these markets.
So, it is impossible for a brokerage business to hold a license from these leading financial market regulators while also being on the blacklist of other financial institutions, in this instance CONSOB and CNMV. Apart than this, LTD FX is not included in the FCA or FCAC registries. So, it is clear that it is an unregistered broker and that you shouldn’t trust it with your money.
There are several benefits to working with registered brokerage businesses overseen by the FCA, BaFin, and ASIC, among others, as opposed to this unlicensed broker. The protection of your fund is first and foremost at stake.
Trade is a risky activity, but it becomes much worse when dealing with dishonest businesses. Credible forex providers, in contrast, reduce trading risks by providing segregated accounts and negative balance protection. Also, they safeguard your funds in reputable financial institutions, and traders are protected by compensation programs (up to 100K EUR).
Accredited forex brokers must also follow the law in order to avoid fines, legal action, and banishment. As a result, they don’t provide manipulated spreads, unclear withdrawal guidelines, excessive leverage, or huge incentives.
According to our prior thesis, a company’s lack of licenses and regulations is the first indication that it is unreliable. After looking through the relevant financial market regulators, we were unable to locate anything that matched CresCapital. In other words, this broker is not permitted to offer online financial trading services and lacks a license. What does that entail for traders, though? Find out in the part after.
We simply want to make clear that the CresCapital broker is purportedly registered in Saint Vincent and the Grenadines as Ethereal Group LLC before we continue. It is not surprising given that SVG has a high concentration of offshore brokers and does not control its forex industry.
CresCapital, a subsidiary of Ethereal Group LLC, conducts its business illegally out of Saint Vincent and the Grenadines, an offshore haven.
Is LTD FX a Legitimate Broker?
LTD FX is a subsidiary of BestProducts and does business remotely. It is not authorized, despite allegedly being registered in the UK and Canada. As a result, it is put on the blacklist of CONSOB and CNMV and provides subpar services, making it obvious to avoid them.
LTD FX Trading Platform
About LTD FX trading platforms, this dishonest broker promises mobile and online trading on-the-go. Even if it were accurate, which we doubt, LTD FX would still be an outright trading fraud.
While having several helpful features, the web trader cannot compare to MetaTrader 4, MetaTrader 5, cTrader, and Sirix. These robust trading programs are popular because they are dependable, easy to use, and include a variety of capabilities (e.g., automated trading, market analysis, stop loss, copy trading).
LTD FX Trading Accounts
There are numerous alternatives available for trading accounts at LTD FX; the summary is provided below.
- Entry: 1.5 pip spreads, a minimum initial balance of 250 EUR, and a leverage of 1:500
- Silver: 2,500 EUR minimum initial balance, 50% bonus, 1.2 pips of spreads, and a leverage of 1:500
- Gold: 10,000 EUR minimum initial balance, 100% bonus, 0.8 pips of spreads, and a leverage of 1:400
- Platinum: minimum initial balance of 50,000 EUR, 100% bonus, no spreads, and leverage of 1:200
The minimum necessary investment is 250 EUR, which is deemed to be too much given that you may begin trading with reputable firms for as low as 10 USD.
Deposit and Withdrawal Fee
You may transfer money between accounts using credit and debit cards, wire transfers, and electronic wallets, to mention just a few of the payment options this broker accepts. Although these are secure and practical payment options, we have our doubts about LTD FX accepting them. Given how hard it is to chargeback cryptocurrency wallets, it is more probable that this fraudster solely accepts them.
This financial con artist levies 50 USD withdrawal fees for bank transfers, 25 USD plus a 10 USD processing fee for credit card withdrawals, and 25 USD for digital wallet withdrawals. In terms of additional fees, payouts from unverified accounts and those that haven’t made at least 200 rotations are subject to a 10% charge. Last but not least, the minimum withdrawals for bank transfers are $250 and for credit cards are $100.
Countries Of Service
Notwithstanding all of the unfounded claims made by this broker, it is not permitted to offer services in any markets. We may infer that this bogus broker is concentrated on the European and North American markets based on its website and its operations in the UK and Canada. These are highly rigorously regulated nations, and all brokers must not only be regulated but also provide services in accordance with the law and industry norms.
Always choose FCA-licensed businesses if you want a broker with a presence in the UK.
Awards and Company Achievements
Regarding honors, LTD FX makes a false claim to be an award-winning brokerage firm in an effort to gain your confidence and attention. The following awards belong to LTD FX, according to its website: best CFD broker, best trading environment, and best execution broker.
Remember that a broker fraud that has been discovered is unable to receive any awards. These self-declared compliments are only one of its deceptive tactics for luring you into trading.
Trading Conditions
LTD FX gives you modified terms of exchange in an effort to lure you in. First, every deposit receives a hefty bonus of between 30% and 100%. Yet they have requirements and can’t be revoked. As a result of abuse, they are prohibited in the majority of jurisdictions.
Leverage from 1:200 to 1:500 is the next range. Keep in mind that for retail traders, it is capped at 1:30 in the UK/EU and 1:50 in the USA. Thus there are additional reasons to avoid LTD FX and more regulatory breaches.
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Tags: American Style
