LTD FX Review: Is Finero.Co.Uk A Reliable Broker?
LTD FX is an online forex broker that claims to provide a seamless trading experience for its clients. However, our investigation shows that the broker has multiple red flags that should concern any potential investor. This LTD FX review will examine the broker’s regulations, platforms, withdrawal processes, and other crucial factors. Stay tuned for more details.
Furthermore, we highly recommend that you avoid the scam brokers Finaguide, Bitech Max, and Caplita.
|Headquarters||UK and Canada|
|Minimum Deposit||250 USD|
Regulation and Fund Security
LTD FX claimed to have addresses in the UK and Canada, but their operations went against UK laws. Also, they are not registered with the FCA. They were also untraceable on Canadian registers, indicating they were not authorized to operate there. Furthermore, their client area and trading software looked unprofessional. Trading with unregulated brokers can be risky for many reasons.
Moreover, LTD FX’s website does not provide any information about fund security. This lack of transparency is worrying since it suggests that the broker is not taking the necessary steps to protect its clients.
Trading Platform Used by LTD FX
LTD FX provides a web-based trading platform that offers essential features. Yet, the software is not the most advanced and only provides basic functionality. While the user interface is straightforward, it is not enough to justify settling for such an unsophisticated platform.
Traders, including novices, are familiar with the MT4 platform, which has been the gold standard for over 15 years in the forex trading industry. With a vast user community of millions of traders, MT4’s reputation speaks for itself, making it a widely recognized and trusted platform.
Trading Accounts Available at LTD FX
LTD FX provides a range of trading accounts to choose from, including Entry, Silver, Gold, and Platinum. For the Entry account, the minimum opening balance is 250 EUR, and you’ll receive a 30% bonus. The spreads are at 1.5 pips, and the leverage is 1:500.
If you choose the Silver account, the minimum opening balance is 2,500 EUR, and you’ll receive a 50% bonus. The spreads are at 1.2 pips, and the leverage is 1:500. The Gold account requires a minimum opening balance of 10,000 EUR, and you’ll receive a 100% bonus. The spreads are at 0.8 pips, and the leverage is 1:400.
For the Platinum account, you’ll need to deposit a minimum of 50,000 EUR, and you’ll receive a 100% bonus. The best part is that there are zero spreads, and the leverage is 1:200.
However, it’s worth noting that the minimum required deposit of 250 EUR is considered too high, especially when legitimate companies offer trading options for as low as 10 USD. We’ll discuss the trading conditions in more detail later in the article.
Deposit and Withdrawal
All in all, this broker didn’t let us deposit. It didn’t even show us available deposit methods, and we’re not sure why. But if you want to withdraw your funds, be prepared to pay steep fees. They charge $50 for wire transfers, $25 for credit or debit card withdrawals, a $10 processing fee, and $25 for ePayments.
And if you haven’t verified your account or haven’t reached 200x turnover, they’ll add another 10%. It’s unfair because it’s like they’re forcing you to keep your money invested with them until you reach that turnover.
Legit companies don’t charge such exorbitant amounts for withdrawals. Most brokers charge only a few dollars unless you’re using a wire transfer, which can be more expensive. But even then, Ltd-FX’s fees are much higher than what you’d expect.
How Is the Broker Scam Implemented?
A broker scam can be implemented in various ways. False promises and misleading information are the most common methods. Scammers may use aggressive marketing techniques to lure investors with attractive deals and incentives, such as low investment requirements or high returns. Once they have the investor’s attention, they may pressure them into making a quick decision without proper research or due diligence.
In some cases, scammers may even falsify account statements or manipulate trading results to create a false impression of profitability. Ultimately, the scammer’s goal is to make a quick profit at the expense of the investor, leaving them with little or no chance of retrieving their funds.
The Best Forex Brokers
Hey there! The table below shows some of the top forex brokers on the market. Each of these brokers has been carefully selected based on factors such as their reputation, trading platforms, fees, and customer support.
By referring to this table, you’ll be able to compare various brokers side by side and make an informed decision about which one to choose. Keep in mind that while the brokers on this list are among the best in the industry, it’s still important to do your own research and select a broker that best suits your individual needs and goals. Don’t forget also to read reviews and seek advice from other traders to ensure that you’re making a well-informed decision.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
LTD FX Summary
LTD FX is a broker that has received mixed reviews from traders. On the one hand, the broker offers a range of trading instruments, including forex, indices, commodities, and stocks.
However, there are also concerns regarding LTD FX’s reliability and transparency. Some traders have reported difficulty withdrawing their funds, and there have been accusations of the broker engaging in corrupt practices. In addition, LTD FX has been criticized for its high withdrawal fees, which can be as much as $50 for wire transfers. While LTD FX may be suitable for some traders, it’s wise to thoroughly research and consider all factors before deciding to trade with this broker.
Is LTD FX Legitimate?
LTD FX’s legitimacy is questionable due to reports of numerous shady practices.
What Are the Funding Methods at LTD FX?
LTD FX offers funding methods such as wire transfers, credit/debit cards, and ePayments.
Is my Money Safe with LTD FX?
The safety of your money with LTD FX is uncertain, as there have been reports of difficulties with withdrawals.