An Unreliable and Unsafe Forex Broker
Trading without getting any assistance from the side of a broker is really difficult. A reliable broker will guide you through the thick and thin of trading in the best possible manner. Also, it will enhance your chances of elevating your profit level. But the market is filled with brokers who steal from their clients through numerous methods. These are shady brokers, and a prominent one among them is the London Future Market.
Being an offshore broker, there is hardly any guarantee that your money will be in the right hands. It is really very risky to invest here. If you are planning to invest, then better conduct in-depth research along with shortlisting the names of brokers. On the basis of reviews and ratings, it will become easy to shake hands with the right broker.
Who is the Owner of London Future Market?
A broker without an owner is beyond imagination. As per recent reviews, A Corp Ltd. of Saint Vincent and Grenadine owns London Future Market. Unfortunately, this country has a very weird reputation in the field of a trading platform. Do you know why? That’s because lots of fraudster brokers belong to this particular country.
The moment a country gets a bad reputation of stalling a huge number of fraudsters, it really becomes difficult to move ahead. There is hardly any trader who will desire to put his money in unsafe hands. According to our London Future Market review, the details of the Ltd. Company that owns the broker is still vague.
London Future Market Does Not Hold a Legit License
We always search for brokers that hold a valid license for operating. People who have become prey to London Future Market will have to shoot in the dark. As it does not hold a valid license, it is really difficult to make out what output it will provide to its customers.
The IBC license number of the broker does not match with any valid running company. Sadly, it is a fake number. London Future Market makes its customers believe that it holds a highly regulated license to operate. In reality, it is just the reverse. It is surprising that this broker did not receive any warning from higher authorities that include:
- CONSOB
- CySEC
- FCA
It is high time to be careful and keep your ideas open before moving ahead. Otherwise, your money and effort both will go in vain.
Withdrawing Money is A Very big Challenge
What does a broker do? It will request you to invest money and withdraw the same along with the profit you receive. But the case is reversed with London Future Market. You will come across lots of channels both online and offline at the time of investing money. The pathway is totally a smooth one.
At the time of withdrawing money, you will have to face lots of hurdles. There will be an uncountable number of pros and cons. In our London Future Market review we found that many people have become victims of this broker. Finally, it will become impossible to withdraw your money. If you wait for decades, the result will still be apologetic.
London Future Market Holds No Permission from Authorities
London Future Market offers five different types of accounts. But surprisingly, it did not disclose any essential condition for trading. Only the initial investment is crystal clear. The most important thing to consider is that it has no approval from higher authorities. That is why it is really impossible to recommend shaking hands with this broker.
It is time to peep into some benefits of this broker to understand how people can fall for this scam. Still, it will be better not to let one blow away by looking at benefits.
Reasons why People Fall for London Future Market
Each and every broker has some benefits. Below are the qualities of this broker:
Attractive Leverage
London Future Market seems to provide a good amount of attractive spreads and leverage. As it is around 0.6 pips, there must be some commission applicable. Some top brokers too offer such spreads. Rather than being quick in decision making, it will be a good idea to check every point very carefully. Jurisdictions have successfully put some restrictions available for retail customers to lower levels. Hence, it is clear that high leverage is inclusive of higher levels of risk.
Multiple Investment Tools
London Future Market includes a large selection of assets. It has a portfolio that comprises a collection of rich products. It will offer investors an appreciable number of exotic currency pairs and a large number of CFDs. With a wide range of cryptocurrencies along with precious commodities and materials; it will become difficult to switch on to another broker.
Even after having a large number of benefits, it will be an intelligent idea to think twice before investing at London Future Market. Conducting a little bit of research will help you to make the best decision. As you will be dealing with your money, it is essential to take time to come across a large number of reliable brokers.
What are The Disadvantages of London Future Market?
Even after having an exclusive range of benefits, what prevents investors shaking hands with London Future Market? It is the large number of disadvantages. Some of the highly remarkable ones include the following:
Does not Come in the Positive list of CONSOB
London Future Market does not hold a good impression in the field of brokers. Even its name is not in the positive list by CONSOB. It does not have the permission to operate in top financial markets like EU, Canada, USA and Japan. Investors must try their best to avoid brokers that operate in offshore countries and carry on businesses with top financial service providers.
Demo Accounts are Absent
The moment a broker remains devoid of any demo account, there remains a doubt about the same. The same is the case with London Future Market. It does not disclose its trading conditions openly. All these things indicate that the company is afraid of being transparent in terms of services and pricing. Also, they give a hint that the broker is among scammers as they fail to share much information regarding conditions that relate to trading.
Does not Support MetaTrader
Active8 is a decent FOREX trading platform, still the hallmark by MetaTrader4 holds a high importance. MetaTrader4 is inclusive of all types of top trading terminals that permit easy trading in the financial market. Also, it ensures ease in terms of usage. It will provide necessary tools and resources for analyzing the price dynamic of financial instruments. Also it will be of great help making trade transactions and creating and using highly automatic trading strategies.
High Initial Deposit
The moment a broker demands a sky-rocketing initial investment, a doubt arises. As London Future Market Carries on with the same task, it will be a good idea to think twice prior trading with this broker.
London Future Market Review Conclusion
As a conclusion, London Future Market is an offshore broker that is hardly transparent about all its services and pricing. It makes this broker an unreliable trading partner. As a trader, you must direct your mind to trade with a broker that holds a valid license to trade all around.
Why associate yourself with a scammer?
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