At first glance, many brokers look quite legitimate. LBLV especially since its first registration in 2006. The company owner is LBLV Ltd from St. Vincent and Grenadines. As an offshore country known as a nest for scammers, one red flag is already waving.
To find out what this offshore trading company offers, read through this LBLV review.
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| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | Lblv.com |
| Blacklisted as a Scam by: | FCA |
| Owned by: | LBLV LTD |
| Headquarters Country: | St. Vincent and Grenadines |
| Foundation year: | 2006 |
| Supported Platforms: | Web trader |
| Minimum Deposit: | $5.000 |
| Cryptocurrencies: | No |
| Types of Assets: | Forex, Commodities, Indices, Shares |
| Maximum Leverage: | 1:400 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is LBLV a Regulated and Licensed Broker?
LBLV broker is far from regulations. The simple reason for that is the many discrepancies you can find on their website. But the primary one is the lack of licensing at all. Since SVG country doesn’t offer licenses for FX and CFD trading business, they must opt for somewhere else. Logically in the countries where they operate.
Unregulated offshore broker. LBLV company earned a warning from the FCA. Untrusted trading software. Insanely high minimum deposit requirement. No cryptos are available.
However, if you look at the database of FCA, BaFin or ASIC you can’t find any results about LBLV broker. Except for a warning. Thus, these regulators are Tier 1 ranked. Any company with such regulation has very strict policies and high trust standards. For instance, our review of Trade Capital Markets and ICM Capital Limited can show you exactly the difference between licensed and non-licensed brokers.
Warning Issued by Financial Authorities
As shown above, this broker already earned a warning from the most trusted regulator. The firm is not authorized to provide services in the UK, therefore FCA warned its traders.
Because they are one of the first on the radar. Instead of getting on their plate, you can be patient and find a regulated broker. But be sure that they will suit all your needs. Making tons of profits is not the same as withdrawing tons of profits. That’s not available with this offshore investment scam.
The Opinions of Traders On About LBLV
Another major red flag comes from numerous user-experience reviews. More than 45% of traders had similar issues. Out of 181 in total number, that’s huge.
Most of the comments are pointing out the same thing. That you won’t get your withdrawal at all. So, to avoid that you should rethink your decision of investing hard-earned money here.
LBLV Platforms – A Software Comparison
LBLV trading company proudly promotes web-based software. Besides they claim to have a proprietary web app available for all devices. Thus, while trying to download mobile apps from AppStore or PlayStore you are redirected to login.
Which leads to conclusion that you can’t see what platform they have unless you complete registration. But then it’s too late and you can expect a call from their agents. Even though they advertise automated trading, EAs, hedging and netting but also copy trading, everything is questionable. This broker is not regulated, therefore nobody monitors their activities.
What Financial Instruments Does The Platform Include?
Instruments available on this platform are:
- Currency pairs (Forex) USD/EUR, EUR/SEK, EUR/HUF
- Commodities gold, platinum, crude oil
- Indices DAX 30, Dow Jones, Nikkei 225
- Shares Amazon, Pfizer, Tesla
Important to realize is that this broker is missing one very popular group. Those are cryptocurrencies. With raising demand they became attractive for many traders. Especially with high volatility that can bring a lot of profits. However, this broker doesn’t offer it.
LBLV Countries Of Service
As we can see in LBLV reviews, this broker is mainly scamming traders from:
- Brazil
- United Kingdom
- Saudi Arabia
But don’t expect that any other country is not welcome. Without proper licensing, these brokers don’t hesitate to reach out everywhere. Between Australia and Canada, everything is possible.
Account Options Offered by LBLV
LBLV trading company has insanely high minimum deposit requirements. Traders are wondering on what basis. Thus, their offer consists of:
- Rookie $5.000
- Basic $25.000
- Premier $50.000
- Elite $100.000
- Elite Plus $250.000
- VIP $1M
What’s more concerning is that you don’t see any trading benefits if you deposit more money. All accounts have almost the same options and the same floating spread. However, VIP members can get private EU Bank account. But knowing that this is a scam broker, it should be taken with reserve.
Can a Trader Use a Demo Account?
If they are doing anything legitimately, they would offer a demo account. On the contrary, traders don’t have a risk-free option here.
For instance, some regulated brokers offer at least a micro account starting at $10. But here you must risk $5.000 for testing out. Once you send the money, you may as well forget about it.
Terms of Service for LBLV
What’s bothering us the most is their shady withdrawal policy. For any withdrawal request upon approval, you must wait up to 9 days to get your money. That’s more than enough time for them to make up the reason why it didn’t go through. From non-existent fees, bonus policies, AML laws and many more.
As for funding methods, traders can choose:
- Debit/Credit cards
- Bank/Wire transfers
- e-Payments
- Crypto payments
The best option is not to deposit any money. But if you do, make sure you do it with the card. That way you can get a chargeback if something goes wrong.
Leverage, Spreads and Fees
This company has granted leverage of 1:400, depending on the asset traded. However, that violates all EU regulations. Primarily ones from the FCA where they should have a license.
After all, their average spread on major pairs starts from 0.3 pips. The industry average covers around 1.5 pips. But have in mind that advertised spread rarely meets the reality. Additionally, their commissions and fees are non-transparent. Therefore, you never know when they will make up something to be paid. Exactly what offshore scam brokers do.
What Should I Do If I Have LBLV Problem?
Since they lack regulations, you must opt for a solution elsewhere. Luckily, our fund recovery team is equipped with the knowledge and patience to assist you with the problem. You are not the first or last who got scammed by these swindlers.
So, to start your fund recovery process you can book a meeting already today. Our first consultation is completely free. Contact us now!
What Is LBLV?
LBLV is an offshore broker operating from St. Vincent and Grenadines since 2006.
Is LBLV a Regulated Broker?
No. The broker doesn’t have any Tier 1 regulations. But they got a warning.
Is LBLV Available in the United States or the UK?
US traders are safe, but UK ones are the primary targets of this broker.
Does LBLV Offer a Demo Account?
No. The only way to get access to the platform is by depositing $5.000.
Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!
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Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.
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