LH-Crypto (Lh-crypto.com) is a brutal CFDs, Crypto and Forex broker who is scamming anyone who dares to sign up. LHCrypto is simply a brokerage firm whose only interest is to convince people to deposit with them. Complaints have been sent to us by victims who have been defrauded by LHCRYPTO. This is where we draw the line and conducted an Honest and detailed investigation. Here’s the whole truth regarding LH-CRYPTO.
LH-Crypto developers have come up with a website that easily entices the eye. What these scammers do is create a website that newbie traders will immediately fall in love with. Newbie traders should be warned not to blindly open an account with any broker without reading reviews. These scammers know how to grab your attention without raising any visible intentions of what they are really about.
Claims and promises are what makes most newbie traders easily fall to scam traps. Some of the claims that LH-CRYPTO throws in include margin trading with premium leverage up to 1:500. Another claim is that this broker makes all settlements in Crypto Currency. What’s more, they claim that users can make deals with 100 times larger than your account balance. Folks, these are claims meant to entice users into signing up.
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According to the disclaimer at the bottom of the homepage, Larson and Holz IT LTD owns this brokerage firm. This information is vague as it doesn’t fully give ownership details of this broker. With such high levels of anonymity, this makes LH-Crypto a very dangerous platform to sign up with.
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Problem with ownership is that there’s no real names given to the people behind LH Crypto. Why have they failed to mention any real names of people involved in running their show? If we had names, we would have easily verified their status by looking at social media platforms. Sadly, we are dealing with a professional scam outfit that wants to remain anonymous. They don’t want any contact with the outside world.
Again, there’s no information that can support any claims that this broker has been regulated. Where is their licensing number and registration number? They have failed to disclose this vital information on their homepage. This is a clear indication that we are dealing with a rogue broker. Anyone who signs up will face a harsh reality with LH Crypto.
A real broker will easily post their certificates and registration documents for everyone to see. Why have this broker failed to follow suit? What this means is that they have no authorization to conduct any Forex transactions. Lack of licensing and registration clearly discredits this brokerage firm in a huge way.
According to their trading platform page, this broker offers MT5 trading platform. They claim to have a web trader, mobile trader and desktop platform. In order to test their platform, we had to be sure that the platform is compatible with all devices. And that’s where we noticed the first red flag with their platform. Download stalled at 40% which is bad news for any trader who signs up with this broker.
LH-Crypto uses an unstable platform which is very dangerous. Unstable platforms are risky in that they leave users vulnerable to hacks. Hackers find unstable platforms as easy breeding grounds for credit and personal data theft. This is why unstable platforms will bleed your bank account without your knowledge. That’s why we are against anyone signing up with LH-Crypto as it will leave you vulnerable to cyber-attacks.
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This broker offers users three different account types. Users can choose from Start account, Standard account, and Pro account. Start account holders are required to make a minimum deposit of $10 to start trading. To be honest, this is way too little considering the industry acceptable standards of $250. What this means is that this broker is targeting anyone who is a newbie at trading.
Standard account holders are required to make a minimum deposit of $250. This account comes with 1:100/1:500 leverage in both Crypto and Forex commodities. They have set a withdrawal limit per day which is between $1,000 to $5,000. With Pro account, users are required to make a minimum deposit of $10,000 to start trading. Leverage with this account is 1:40 and 1:200. Withdrawal limits per day are between $10,000 to $50,000.
Funds are never safe with an unlicensed and unregulated broker. With such high levels of anonymity, don’t expect this broker to safely secure your funds. A major problem with security of funds starts with them. Why have they failed to mention any bank that they use to deposit money from users? Did you know that members maybe depositing money straight to the owner’s personal bank account?
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When it comes to security of funds, this platform is not SSL Encrypted. There’s more bad news to come, segregation of accounts is not followed by LH CRYPTO. This means that they are pooling funds in one account. Folks, this is a dangerous practice as members can easily lose funds in case of bankruptcy or insolvency. Another red flag is that this broker does not participate in a compensatory scheme.
Scammers have taken their tricks to a whole new level when it comes to demo accounts. LH-Crypto offers users $50,000 virtual money to trade with the demo account. This is not the issue; problem is that they have rigged the demo account in favor if users. Members will make over 90% successful trades with the demo account.
Once you sign up with a real account, you will have to deposit real cash. That’s when this broker will take all your money and never hear from them again. Most of the complaints sent by users was regarding lack of communication with broker after depositing funds. Make sure you are not their next victim by ignoring their chants to sign up.
Evidence clearly shows that we are dealing with a rogue Forex scam. From their level of anonymity, this is simply a scam show. Make sure you mark all their incoming emails as Spam and never click on any links sent.
All eyes point to a well-planned scam by fraudulent professionals. Once their platform is no longer in existence, newbie traders will be safe. Option we are left with is to add this broker to our scam blacklist.
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Finally, we wish you all the best in your Forex trading experience.
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