LTD-FX Review – Reasons to Avoid this Broker

LTD-FX Review

The internet has opened up a world of opportunities for people, but no matter what you are doing online, it is understood that you have to be careful. Why? This is because cybercriminals are rampant and they are ready to steal your money.

It is also applicable in the world of online trading where people invest huge sums of money in the financial markets. One of the popular tricks that criminals resort to is through scam brokerages and you will learn about one such company in this LTD-FX review.

It highlights why it is important for people to do their due diligence when they are doing anything online. No matter what you are doing, you should always check and verify because every company is going to make big promises to bring you to their platform.

This applies to both legitimate and fake platforms, so you need to determine which category the one you are considering falls into. A little time and effort will help ensure that your funds don’t go in the wrong hands.

You cannot just rely on the broker’s own promises because if that were the case, there would be no scammers. But, there are and you have to be diligent enough to find out if you are dealing with one. This means giving the company more than just a quick look because it is unlikely that you will learn much without going a bit deeper.

When you check out their offerings properly instead of just taking them at their word, you will know what to make of the brokerage. It is how you will be able to make the right decision at the end of the day.

Taking the same route when you come across this LTD-FX broker is a great idea. This is because LTD-FX claims to not just be a forex broker, but a world of investments and while their claims are quite impressive, they are utterly false.

You will find plenty of reasons to avoid LTD-FX when you take a close look at their offerings. What are they? Some of these are:

Absence of regulation

If there has to be just one reason for you to not give a brokerage the benefit of the doubt, it should be the absence of regulation. With scams rampant over the internet, the only way that online brokers can reassure their customers about their credibility is through their regulatory status.

Thus, every genuine company would make the effort of obtaining a license and establish its offices in jurisdictions that are considered reliable and safe. Fraudulent companies would obviously do the opposite.

Where does LTD-FX come in? The problem here is that the broker provides you two address on its website, one of it shows it is based in the United Kingdom and the other is in Canada.

To be regulated in the former, a license from the Financial Conduct Authority (FCA) is required. As for the latter, the regulatory authority is called the Investment Industry Regulatory Organization of Canada (IIROC). But, when you check the FCA online database, you are not going to find LTD-FX anywhere.

Moreover, you will also discover that LTD-FX is actually going against a number of UK laws, which is further proof that it cannot be based in the country, or at least not be operating legally from there.

Likewise, it cannot be based in Canada either because a check of the IIROC online register does not list LTD-FX either. This means that the broker is actually anonymous and you know nothing about it, which makes it incredibly unsafe for everyone.

Malicious bonus policy

As mentioned above, when you explore the offerings of LTD-FX, you will find that it goes against the UK laws. One of these is the offer of trading bonuses, which had been quite popular in online trading for a time.

However, things changed because their policies were deemed unfair for traders, so regulatory authorities decided to forbid the practice. The FCA has been very active in this regard, yet LTD-FX is still offering bonuses even though it claims to have an office in the UK.

Not only that, but when you check the bonus policy at LTD-FX, you will find that it is truly malicious and shows by bonuses had to be banned.

The policy indicates that you cannot make any withdrawals until you have fulfilled a certain turnover requirement. This requirement is deliberately kept high to ensure there can be no withdrawals, allowing the fraudsters to keep your funds.

Poor trading platform

The key feature that you need for actually engaging in online trading is the platform that a broker offers to you. This makes all the difference in your trading experience, so it has to have powerful technology and sophisticated tools that can help you make the most profitable trades.

So, what does LTD-FX have to offer? Unfortunately, you will find that it has a very basic web trading platform available.

It is a lacking piece of software that does not come even remotely close to what you will find in the MT4, or the MT5 trading platforms that are considered industry standard and are offered by most genuine brokers. What LTD-FX is offering is something that a lot of scam brokers offer to continue with their ruse.

High leverage and withdrawal costs

The leverage ratios that you will come across at LTD-FX are as high as 1:100 and these are downright dangerous. The FCA has limited the amount of leverage to 1:30 for retail traders, so if LTD-FX was truly based in the UK, it would not be offering these ratios. But, the fact that it is doing so shows that it is lying about where it is based.

Apart from that, when you check out the withdrawal charges and fees that LTD-FX is asking, you will find another reason to avoid the company because these are just too high. No legitimate brokerage would ever ask for so much.

The Final Verdict

Put all of these reasons together and you will see why LTD-FX is not a good broker to choose for anyone.