Loyalfxmarkets.com Review: Confirmed scam broker
Welcome to this review on Loyalfxmarkets.com. This is an online trading platform dealing with Forex, Stocks, indices, cryptocurrencies, Commodities, Portfolio Investments, CFD, EFT and venture investments.
This broker claims to have been operating for the last 9 years.
Similar to Mft Trade, this broker is a scammer that you should avoid.
It prides itself with a high leverage and very fast withdrawals.
Tis financial investment broker claims to be a global outfit with over 50,000 investors from all over the world.
From the website design you may think that this broker is legitimate. This is just another scammer in the industry to steal your hard earned money.
In this review, we will carry out an in depth analysis of this broker to identify the red flags that will definitely help you make a sound investment decision.
Loyalfxmarkets.com scam Review
It is a requirement for all financial service providers to share their financial statements. The financial records go a long way in helping an investor decide whether to invest or not. It shows how a company has been performing. This is very helpful since the past performance will help us predict the future.
Monthly, quarterly, half-yearly and yearly audited statement of account should be availed to the general public. We expected to find this crucial documents on the website but they are nowhere to be seen. This confirms that probably there is no trading taking place in this organization. They are just hiding behind their screens waiting for their preys. These are scammers that you should avoid by all means.
A part from the above, this broker is not regulated. We have checked with the regulator in Switzerland where they claim to be operating from in vain. Scammers choose the easier option of being unregulated so that they have the leeway of misappropriating the investors’ money. They do not subscribe or observe any set of regulations that are bound to be observed by players in the industry that they purport to be part of.
This broker has not shared the details of the people running the company. This goes a long way in boosting the confidence of the investors. It makes a big difference to know who is running the company that you are a part of.
Investment account Types for Loyalfxmarkets.com
Loyalfxmarkets.com claims to be a global leader in matters Forex, Indices and stocks among other many assets that they offer to their investors.
Unfortunately this broker has not shared the account types that they have. This is a big lapse as this information forms the basis of deciding whether to join or not.
This broker has just provided a demo account which anyone can open and learn how to trade.
Failure to disclose many details like minimum investment amount, spreads, leverage among others makes us question the transparency of this broker. Transparency is very important considering that we are in the financial investment space.
They are promising financial freedom from their crazy returns on investment, sad to note that this is just a lie as they do not pay any profits.
Keep off this scammer lest you lose your money.
How online scams like Loyalfxmarkets.com
Scammers aggressively market on the internet. They go to an extent of paying for fake reviews to give an impression that they are a legit company the pays investors.
Over time they get queries and this is where they capitalize, they sell benefits of their brokerage as they conceal the truth from them. People get intrigued and invest in the hope of getting reasonable returns on their investments.
The customer agents will then tactfully have you increase your deposits to the maximum level that you can. Once they achieve this, they become cheeky and less responsive. Whenever you want access to your money, they will somehow make it impossible and have you even deposit more.
Processing of Withdrawals
The only withdrawal that will be effected seamlessly is the first one with the minimum investment amount. Once you investment amount hoping to make more money, that is the moment you will not see a penny.
Theirs is to lure you to invest more and more money so that they disappear with it.
They lie that automatic withdrawals have been disabled thus they will be manually processed which takes forever until you give up.
How to avoid being scammed by Loyalfxmarkets.com
It is important to do extensive research to ascertain if a broker is legit or not. There are reviews on the internet can guide on this. As much as they normally sponsor fake reviews, a keen eye is able to differentiate a fake from genuine reviews.
Scammers use this lie of having your money work for you. This has become so common, there in nothing actually taking place behind the scenes yet they lie that there are experts doing the real thing on your behalf.
Being licensed and regulated is a must in this industry yet most companies are not. Immediately you realize that an investment company is not regulated, do not waste your money with them. That is a scammer!
Loyalfxmarkets.com is a confirmed SCAM.
This broker is not licensed to operate thus very untrustworthy.
Have you been scammed by this broker, leave a comment below.