LBLV Review – Introduction
LBLV is a Foreign Exchange broker that provides the Metatrader 5, WebTrader and Mobile trading platforms. At LBLV.com, you can find over 45 different currency pairs, commodities, indices, stocks, gold and silver for investment or trading opportunities.
It is possible that there is a high potential risk associated with the Seychelles Retail Forex License, as it has been revoked after 2-5 years and was regulated in Seychelles, with a suspicious scope of business. Please see the following link for more information: https://lblv.com
More than 50 forex pairs, featuring a selection of exotic currencies such as the Brazilian Real, Czech Krona, Danish Krona, Hungarian Forint, Norwegian Krone, Polish Zloty, Russian Ruble, Swedish Krona, Turkish Lira, Chinese Yuan, Hong Kong Dollar, Israeli Shekel, Mexican Peso, Romanian Lei and Singapore Dollar South African Rand are available instruments for trading. To know more about the scams, read a complete LBLV review. LBLV Trading Review According to the LBLV trustpilot review - "Just save your money for something else because you will never be able to withdraw any money. They make you sign a contract where the target is so high you are never ever will be able to withdraw your money!!! Be aware…."
Why LBLV is a scam?
Furthermore there is an offer of CFDs comprising indices stocks commodities like oil natural gas nickel aluminum zinc tin copper lead coffee sugar soybean wheat as well as precious metals like silver gold platinum palladium and virtual coins including Bitcoin Ethereum Ethereum Classic Litecoin and Ripple. Upon conducting tests with a demo account the EURUSD spread was determined to be fixed at 3 pips which is twice the usual level most traders would agree to accept in a standard account.
Due to LBLV Ltd. being registered in Seychelles and operated by QuantumTeam OU in Estonia, it cannot be said that the broker is seriously regulated by the Financial Service Authority (FSA) of Seychelles as this agency only functions as a registry office for offshore businesses. Therefore, it is necessary to consider LBLV as an unregulated, offshore firm which lacks credibility. Meanwhile, other brokers regulated by reputed institutions such as the FCA in UK, ASIC in Australia and CySEC in Cyprus must meet certain requirements with regards to safety of funds and regulation. Hence, LBLV regulation is a point of concern.
LBLV allows a variety of payment methods, such as major credit and debit cards like VISA and MasterCard, e-wallet services Neteller, Skrill, QIWI Wallet, UnionPay, WebMoney and Yandex as well as bank wire transfers. The smallest deposit needed varies from the affordable Rookie Account in which an amount of 5 000 USD is required to the VIP Account which demands a whopping amount of 1 million USD.
However this is not all; taking a closer look at their terms and conditions we have noticed some peculiar clauses. For example LBLV trading reserves the right to “impose a limit on the LBLV withdrawal request and also set limits for withdrawals per account” as well as impose several charges for processing withdrawals "along with transaction fees" that can always be modified without prior notification. Furthermore no information is provided regarding these fees on LBLV's website. On top of that clients should watch out if they are offered a bonus by LBLV trading since it usually comes with certain requirements such as minimum trading amounts.
What to do if scammed by LBLV?
If you are a scam victim of LBLV, File a complaint here. We will provide you a free consultation on recovering funds from LBLV.
Read about a broker who engaged in a similar scam – BKCoin review
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