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LBLV (Lblv.com) is a CFDs, Crypto Currency, and Forex broker who lack proper regulation making them highly unprofessional. LB LV is purporting to be regulated by the FCA which is not true. Furthermore, being based offshore is what makes LBLV another broker who is unregulated. What we did was uncover the plot behind their brokerage firm and what they claim to offer investors. Read this detailed and honest LBLV review.
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This broker claims to have the great Ronaldinho, a soccer legend, as their brand ambassador. After trying to verify this detail with Ronaldinho’s agents, we couldn’t get a clear response. What we know is Ronaldinho has not come forward and backed this platform officially. And this makes it a problem. Could this be a platform which has photo shopped Ronaldinho’s image? This is highly likely as there’s no evidence to prove he is their brand ambassador, other than photos.
To get a better understanding of this platform, we decided to contact some members using online social platforms. Most members were not happy with how transactions were being conducted especially when it came to withdrawals. And this is a major red flag with this broker. Having unsatisfied customers and negative online reviews is a major stumbling block. Trusting anything this broker claims is going to be hard. There are a lot of details which remain sketchy with this broker.
Disclaimer at the footer of the homepage claims LBLV Ltd owns this platform. Only information we found regarding this company is only on their official homepage. This means this platform is not found on any registrar of company’s website. Could we be dealing with an anonymous company? Chances are LBLV Ltd is a company which is fictional and not real. And this is a major problem as this broker could potentially be a scam. It’s better to be safe than sorry, stay away.
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Their website is equally convincing as images of Ronaldinho having a T-shirt branded with their logo. Scammers could possibly have photo shopped this image and edited their logo on his shirt. This is meant to entice users to believe this is indeed a real broker. What we need is a valid confirmation from Ronaldinho regarding his role. There’s no video showing his acceptance of being their ambassador.
LBLV Ltd is indeed registered by the Financial Services Authority of Seychelles. This does not in any way confirms the registration of LB LV. For all we know, this could be a scam which is using the name to feign licensing. This is not the first time scammers have used another registered company’s name to gain traction. Where are their copies of licensing and registration as one would expect on their homepage?
Their homepage does not have a legal agreement’s page which is quiet odd. As one would expect from a genuine broker, there’s no licensing details when it comes to this broker. All in all, trusting an offshore broker who is based in Seychelles is not recommended. Make sure to stay away from this broker as they could close shop at any given moment. These offshore brokers in most cases face bankruptcy and insolvency.
They are using an improved version of MT4. Using MT5 is obviously an advantage to users who sign up. Users can use an automated system to trade with this platform. This is the fifth generation of the Meta trader and is ideally suitable for all types of traders. Is LBLV’s trading platform a good and stable trading tool? And this is where we have issues with this platform
After downloading their MT5 platform, set up took time and was exhausting. Their platform has a lot of information which is not necessary. Another issue we found with their platform is lack of a safe integration system. This platform could lead to attacks from third parties as it’s not properly secure. Hackers will steal your personal files especially your credit card information. BEWARE!
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Depositing funds with this platform is easy and quick as expected. This is not a reason for anyone to open an account. Depository channels used include bank transfers, E Wallets, MasterCard, Visa, and others. Most users have not faced any issue with depositing funds with this platform. There’s no processing fee which is a plus for any investor.
After talking to some of the members, withdrawals have become an issue. This broker is asking for more deposits before allowing some members to withdraw. And this is why it’s imperative to read a trader’s agreement. Sadly, this broker has failed to post any documents to show withdrawal process. This broker is clearly hiding withdrawal information for a reason, stay away.
As we always say in most of our reviews, funds are never safe with an offshore broker. Security of funds is not guaranteed by a broker who cannot be contacted easily. Notice how they have a live chat dashboard? Their live chat help does not work and it’s always offline. This means after depositing funds, you still can’t talk to the broker. And this makes safety of funds not possible with this broker
What about segregation of accounts? Offshore brokers are known not to segregate accounts as it ought to be. And this is what makes LBLV a dangerous platform to associate with. How can we trust a broker who fails to follow set industry rules? Problem with not segregating accounts is when bankruptcy or insolvency sets in. Funds are never safe from a broker who fails to insure funds made by investors. Stay away!
LBLV is a broker who fails to follow set regulations and industry rules. This makes trusting this platform a hard task. Make sure to know what you are getting into before signing up with this broker.
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