LSS FX Markets Review: LSS FX Markets is a forex broker that is supposedly licensed by the authorities of Saint Vincent and The Grenadines. In the review below, we take an in-depth look at the features LSSFX Markets allegedly offers. This review basically answers the questions: is LSS FX Market legit? Is LSS FX Markets good? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about LSS FX Markets forex broker.
Table of Contents
LSS FX Markets Trading Platform
On visting this broker’s website, from the design and layout we were almost intrigued and convinced that this broker was the real deal. But after looking out the design, we began to see what the design and well crafted words were trying to hide.
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This broker claims to provide the Metatrader 4 but the download links on its website leads to another. It leads to a distribution of Metatrader 4 owned by liquiditysoftsolutions.
This Saint Vincent and The Grenadines’ broker claims to offer assets with a suspiciously high leverage capped at 1:1000.
High leverages are a double-edged sword in the sense that a trader can make a huge profit if the trade falls in the right place, but that also means that the trader can also lose an enormous sum if the reverse is the case. Regulatory bodies have put a cap on leverages for brokers. But unregulated brokers lack this Capped leverage. We do advise restraint if you ever come upon a broker with leverage exceeding 1:30, especially if you are new to the market.
LSS FX Markets Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has three account types.
LSS FX Markets Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
We could not find any discernible method that this broker uses to carry out transactions.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo.
Is LSS FX Markets Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
This broker claims to be in Saint Vincent and the Grenadines. Saint Vincent and the Grenadines is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body. The government of the SVG has stated in the past it does not regulate any form of forex trading.
No, this broker is not a licensed brokerage.
While SVG has no regulatory body, recently the government of Saint Vincent and the Grenadines has claimed that it is planning a complete reformation of the nation’s FX and CFD regulatory grounds. We don’t know when they will do this, but we are expecting SVG to pick up the slack and begin enforcing a set of rules to its broker’s firms, which for now are mostly SCAMMERS.
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact checking this broker, we found that many of its claims were false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we lead to loss of your funds.