Overview of LTD FX Summary
LTD FX is a brokerage firm that claims to be registered in the United Kingdom and Canada. However, it is important to note that the legitimacy of this claim is questionable, as there is no valid regulatory information available for LTD FX. The lack of regulation raises concerns about the broker's credibility and adherence to industry standards.
LTD FX offers multiple account types, including Entry, Silver, Gold, and Platinum accounts, each with different minimum deposit requirements and leverage options. The minimum deposit ranges from 250 EUR to 50,000 EUR, depending on the account type. Leverage ratios vary as well, with the highest leverage of 1:500 offered for Entry and Silver accounts, and the lowest leverage of 1:200 for the Platinum account.
The broker claims to offer competitive spreads, starting at 1.5 pips for the Entry account and allegedly reaching zero spreads for the Platinum account. However, given the overall questionable nature of LTD FX, the reliability of these spread claims should be approached with caution.
LTD FX provides a web trader and a mobile trading platform for clients to execute their trades. While the web trader is said to have some useful features, it is important to note that these platforms may not be as reliable or comprehensive as widely used platforms such as MetaTrader 4 or cTrader.
The broker supports various deposit and withdrawal methods, including credit and debit cards, wire transfers, and electronic wallets. However, LTD FX imposes certain withdrawal fees, such as a fee of $50 for bank transactions and $25 plus a $10 processing fee for credit card withdrawals. Additionally, there is a 10% fee for withdrawals from unverified accounts or accounts with insufficient turnover.
It is crucial to highlight that LTD FX has been blacklisted by regulatory agencies such as CONSOB and CNMV. These blacklisting actions indicate that the broker has engaged in deceptive practices and does not comply with regulatory standards. Furthermore, LTD FX has been associated with multiple scam broker names, further raising concerns about its trustworthiness.
In summary, due to the lack of regulation, blacklisting by regulatory authorities, and questionable practices, it is advisable to avoid trading with LTD FX. Traders should prioritize licensed and regulated brokers to ensure the safety of their funds and the transparency of their trading activities.
Pros and Cons
Presenting the pros and cons of LTD FX: Among the advantages are multiple account options, bonus offers on certain accounts, different leverage options, zero spreads for the Platinum account, a mobile trading platform, a web trader with useful features, and support for various payment methods. On the downside, LTD FX is unregulated and lacks necessary trading credentials, is blacklisted by regulatory agencies, operates under multiple scam broker names, does not provide a demo account, requires a high minimum deposit of 250 EUR, and bonus offers may come with restrictions and conditions. Furthermore, there is limited information on trading conditions and account customization, and the minimum opening balance for the Platinum account is set at a high amount of 50,000 EUR.
Is LTD FX Legit？
Based on the information provided in the text, it can be concluded that LTD FX is not a legitimate broker. Here are the reasons why:
1. Lack of Regulation: LTD FX claims to be registered in the UK and Canada, which are stringent jurisdictions for financial services. However, there is no information about LTD FX in the registers of the British FCA and Canadian FCAC. This indicates that LTD FX is an unlicensed broker and lacks the necessary permits to provide trading services.
2. Blacklisted by Regulatory Agencies: LTD FX has been blacklisted by two financial regulatory agencies, CONSOB (Italian regulatory authority) and CNMV (Spanish regulatory authority). Such blacklisting is a clear indication of the broker's untrustworthiness and non-compliance with regulatory standards.
3. False Claims and Awards: LTD FX makes false claims about possessing numerous awards from prestigious events in London, Dubai, and Germany. These claims are likely fabricated to gain the trust of potential traders. Legitimate brokers do not engage in such deceptive practices.
4. High Minimum Deposit: The minimum deposit required by LTD FX is considered high at 250 EUR. Legitimate brokers typically offer lower minimum deposit requirements, allowing traders to start with smaller amounts.
5. Suspicious Withdrawal Fees: LTD FX charges various withdrawal fees, including fees for bank transactions, credit cards, and digital wallets. The presence of such fees, particularly the 10% fee for payoffs from unverified accounts, raises concerns about the broker's transparency and fairness.
6. Limited Trading Platform Options: LTD FX offers a web trader and mobile trading platform, but these options are not on par with widely used and trusted platforms like MetaTrader 4, MetaTrader 5, cTrader, and Sirix. Limited platform options can affect the trading experience and functionality for traders.
7. Unauthorized Services: Despite claiming to be registered in the UK and Canada, LTD FX is not authorized to provide services in any market. This lack of authorization further undermines the legitimacy of the broker.
Considering these factors, it is advisable to avoid trading with LTD FX. It is important to choose brokers that are properly regulated, transparent, and have a positive reputation in the industry to ensure the safety of your funds and trading experience.
Account Types
LTD FX offers multiple account types to cater to different trading needs and preferences. Here's an overview of the account types available:
1. Entry Account: The Entry account requires a minimum opening balance of 250 EUR. It offers a 30% bonus on deposits and has spreads starting at 1.5 pips. The leverage offered is 1:500, allowing traders to potentially amplify their trading positions.
2. Silver Account: The Silver account requires a higher minimum opening balance of 2,500 EUR. Traders opting for this account type receive a 50% bonus on their deposits. The spreads offered are slightly lower, starting at 1.2 pips. Similar to the Entry account, the leverage is set at 1:500.
3. Gold Account: The Gold account has a higher minimum opening balance of 10,000 EUR. Traders who choose this account type are eligible for a 100% bonus on their deposits, doubling their trading capital. The spreads offered are further reduced, starting at 0.8 pips. The leverage for the Gold account is slightly lower at 1:400.
4. Platinum Account: The Platinum account requires the highest minimum opening balance of 50,000 EUR. Traders with this account type receive a 100% bonus on their deposits. One notable feature of the Platinum account is the claim of zero spreads, which means trades can be executed without incurring any spread costs. However, the leverage offered for the Platinum account is further reduced to 1:200.
It is worth noting that the minimum deposit requirement of 250 EUR for the Entry account might be considered high compared to what legitimate brokers typically offer, such as starting with as little as 10 USD. Additionally, the offered trading conditions, such as the spreads and leverage, should be thoroughly evaluated to ensure they align with one's trading strategies and objectives.
Overall, prospective traders should carefully assess the account types, associated costs, and trading conditions offered by LTD FX, while keeping in mind the potential risks and concerns highlighted in the previous discussions about the broker.
Pros and Cons
Trading Platforms
LTD FX offers two trading platforms: a web trader and a mobile trading platform. However, it is important to note that there are serious doubts about the legitimacy of LTD FX as a reliable broker.
While the review acknowledges that the web trader may have some useful features, it emphasizes that LTD FX cannot be compared to established and reputable trading platforms such as MetaTrader 4, MetaTrader 5, cTrader, and Sirix. These well-known trading programs are widely recognized for their reliability, user-friendliness, and comprehensive set of tools, including automated trading, market analysis, stop loss orders, and copy trading functionality.
The suggestion that LTD FX is a “pure trading scam” casts doubt on the credibility and integrity of the broker's trading platforms. It indicates that the broker may not provide a secure and transparent trading environment for its clients.
Given the availability of more reputable and widely-used trading platforms in the industry, potential investors should exercise caution and carefully consider the choice of broker and trading platform before engaging in any trading activities.
Deposit & Withdrawal
LTD FX claims to support various payment methods for both deposits and withdrawals, including credit and debit cards, wire transfers, and electronic wallets. These payment options are commonly used in the industry and are considered safe and convenient.
However, it is important to note that there are concerns regarding the availability of these payment methods at LTD FX. The review suggests that the broker may be more inclined to accept only crypto wallets, as they are difficult to chargeback. This raises doubts about the legitimacy and transparency of the broker's operations.
When it comes to withdrawal fees, LTD FX imposes certain charges. For bank transactions, there is a withdrawal fee of 50 USD. For credit cards, there is a withdrawal fee of 25 USD, in addition to a processing fee of 10 USD. Digital wallets also incur a withdrawal fee of 25 USD.
In addition to these fees, LTD FX imposes a 10% fee for withdrawals from unverified accounts and accounts that have not reached a minimum of 200 turnovers. This suggests that there may be additional costs involved when attempting to withdraw funds from the broker.
Furthermore, the minimum withdrawal amounts set by LTD FX are 250 USD for bank transfers and 100 USD for credit cards. These minimum thresholds indicate that traders must accumulate a certain amount of funds before being able to make a withdrawal.
Considering the concerns raised about LTD FX's credibility and the associated fees and withdrawal conditions, potential investors should exercise caution and thoroughly evaluate the broker's deposit and withdrawal policies before engaging in any financial transactions.
Pros and Cons
Spreads
The available information regarding the spreads offered by LTD FX suggests varying levels depending on the account type. It is important to note that LTD FX has been described as an untrustworthy and potentially fraudulent broker, so the reliability of the provided information should be taken into consideration.
According to the review, the Entry account type at LTD FX offers spreads at 1.5 pips. The Silver account type, requiring a higher minimum opening balance, supposedly provides slightly tighter spreads at 1.2 pips. Moving up to the Gold account, the spreads are claimed to be even tighter at 0.8 pips. Lastly, the Platinum account allegedly offers zero spreads.
It is essential to approach these spread claims with skepticism, as the overall credibility and legitimacy of LTD FX have been called into question. The review highlights the broker as potentially engaging in deceptive practices, including false statements and unregulated operations.
In general, when evaluating a broker, it is crucial to consider not only the spread levels but also the broker's reputation, regulatory status, and overall trustworthiness. Transparent and regulated brokers tend to provide accurate and competitive spreads, ensuring a fair-trading environment for their clients.
Leverage
According to the provided information, LTD FX offers different leverage levels depending on the account type. It's important to note that LTD FX has been described as an untrustworthy and potentially fraudulent broker, so the reliability of the information should be approached with caution.
The Entry account type at LTD FX supposedly offers leverage of up to 1:500. This high leverage allows traders to control larger positions with a smaller amount of capital. The Silver account type also provides the same leverage of 1:500. Moving up to the Gold account, the leverage is said to be slightly lower at 1:400. Finally, the Platinum account supposedly offers leverage of 1:200.
However, it's important to note that leverage levels are regulated in different jurisdictions to protect traders from excessive risks. In the UK and EU, for example, leverage for retail traders is capped at 1:30, while in the USA, it is capped at 1:50. The fact that LTD FX claims to offer higher leverage levels raises concerns about its compliance with regulatory standards.
Considering the questionable nature of LTD FX as described in the review, it's advisable to exercise caution and be wary of brokers that offer excessively high leverage without proper regulation. It is generally recommended to choose regulated brokers that adhere to industry standards and prioritize the protection of their clients' interests.
Pros and Cons
Fees
Regarding withdrawal fees, the review states that LTD FX charges $50 for bank transactions, $25 plus a $10 processing fee for credit cards, and $25 for digital wallets. These fees seem to be applied when clients request to withdraw funds from their trading accounts. Additionally, there is mentioned a 10% fee for payoffs from unverified accounts or those that have not reached a minimum of 200 turnovers.
Customer Service:
Based on the provided information, the customer service of LTD FX can be contacted through phone and email. Here's a description of the customer service channels:
Phone: +241 452 4526 LTD FX provides a contact phone number for customers to reach their customer support team. By calling this number, traders can seek assistance, ask questions, or address any concerns they may have regarding their trading accounts, platform functionality, or general inquiries related to their services. The availability of a phone contact suggests that LTD FX aims to provide direct and immediate support to its clients.
Email: support@Ltd-Fx.com, compliance@Ltd-Fx.com LTD FX offers two email addresses for customers to communicate with their support team. The first email address, support@Ltd-Fx.com, can be used for general inquiries, account-related questions, technical issues, or any other assistance required from the customer support team. The second email address, compliance@Ltd-Fx.com, appears to be dedicated to compliance-related matters, such as reporting suspicious activities, seeking clarification on regulatory aspects, or addressing any compliance concerns.
Conclusion:
In conclusion, LTD FX is an unregulated broker that falsely claims to be registered in the UK and Canada. The broker has been blacklisted by two regulatory agencies, CONSOB and CNMV, for non-compliance with regulatory standards. LTD FX has several negative aspects, including manipulated trading conditions, deceptive practices, suspicious withdrawal fees, and limited trading platform options. Although the broker offers multiple account types with different leverages and bonus offers, the minimum deposit requirement is considered high at 250 EUR, and the absence of a demo account raises concerns. Therefore, it is advisable to avoid trading with LTD FX and choose licensed and reputable brokers that prioritize fund safety and transparency.
FAQs
Q: Is LTD FX a regulated broker？
A: No, LTD FX is not regulated. It lacks the necessary licenses and has no valid regulatory information. It has been blacklisted by regulatory agencies CONSOB and CNMV, indicating its untrustworthiness and non-compliance with regulatory standards.
Q: What is the minimum deposit required by LTD FX？
A: The minimum deposit required by LTD FX is 250 EUR.
Q: What is the maximum leverage offered by LTD FX？
A: The maximum leverage offered by LTD FX varies depending on the account type. It is 1:500 for Entry and Silver accounts, 1:400 for the Gold account, and 1:200 for the Platinum account.
Q: What are the spreads offered by LTD FX？ A: The spreads offered by LTD FX vary depending on the account type. The Entry account has spreads starting at 1.5 pips, the Silver account starts at 1.2 pips, the Gold account starts at 0.8 pips, and the Platinum account claims to offer zero spreads.
Q: What are the available trading platforms at LTD FX？
A: LTD FX offers a web trader and a mobile trading platform. However, these platforms are considered unreliable compared to established platforms like MetaTrader 4, MetaTrader 5, cTrader, and Sirix.
Q: What are the available account types at LTD FX？
A: LTD FX offers four account types: Entry Account, Silver Account, Gold Account, and Platinum Account.
Q: Does LTD FX provide a demo account？
A: No, LTD FX does not provide a demo account.
Q: What are the deposit and withdrawal methods supported by LTD FX？
A: LTD FX supports credit and debit cards, wire transfers, and electronic wallets for both deposits and withdrawals.
2023-03-20 16:18
2023-03-15 16:37
