Lima Forex (Limaforex.com) is a brutal Forex scam platform targeting South American investors. LimaForex is purporting to offer high leverage and negotiable securities to anyone who signs up. After receiving numerous email complaints, we had to investigate this broker. As it turns out, LIMAFOREX is nothing but an online scam targeting unsuspecting online investors. To know the full details of how users are scammed, read this detailed LIMA FOREX Review.
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Most of the complaints we received centered on communication and withdrawal issues. Lima Forex is going to constantly harass investors with calls urging them to sign up. After signing up, these calls will persist until investors deposit a certain amount. These call agents will disappear after deposits are made and reappear when asking for more. It’s a well-known scam tactic which works like a pyramid scheme. All what Lima Forex is trying to do is line their pockets with funds from investors.
With an easy website, there’s no reason why users can doubt this broker at first glance. After landing on their homepage, we can easily see why newbie investors sign up with this broker. A huge problem with their website is lack of proper security. Homepage is simple and can be hacked by newbie traders. With images being plastered of gold, coins, and charts, users are led to believe this is a legit broker. After all, they do claim to offer a variety of currencies and assets.
Sadly, there’s no valid information regarding ownership of this trading platform. What seems to be a broker based in Peru can easily be a money laundering site. Disclaimer at the footer of the homepage claims this broker has been in existence since 2014. These are simply lies as the broker started offering trading services in 2018. Scammers will do or say anything to make their platform appear legit. Folks, these are scam tactics.
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LimaForex is an offshore broker with no known address. What about the people running this website? Who are the founding members of this platform? Why have they failed to mention the real owners of this platform? Who is the CEO or CFO of this platform? And this is what makes dealing with Lima Forex a disaster. Anyone who signs up with Lima Forex is operating with an anonymous broker. Anonymity is a dangerous entity to be associating yourself with, stay away!
No details have come up regarding the licensing and registration of this broker. What this means is Lima Forex is NOT licensed or registered to offer Forex services. Anyone who signs up with this broker is bound to lose funds. Any unauthorized broker is surely a losing entity and should not be trusted. Why have they failed to post details regarding their licensing? Looking at the disclaimer at the footer of the homepage, no details regarding licensing have been posted. What does this mean?
Lima Forex is simply a fraud broker and is simply trying to fill their pockets with your funds. Why have they failed to post copies of their licensing certificates if they have any? Any broker will post copies of their licensing to show transparency and trust. It’s also a sign users can verify the licensing details with regulatory bodies. Why this broker fails to post their credentials is not a mystery, they don’t have any documents. LimaForex is a fraud and signing up leads to making losses.
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How can this broker fail to have a demo account? Do they want newbie traders to immediately start trading with an unknown platform? A demo account helps users to get a feel of what to expect with a platform. What this scammer wants is for newbie traders to make loses and blame themselves. Lack of a demo account is going to evidence we are dealing with a rogue Forex provider. Make sure to sign up with brokers who offer a demo account to their members. Know how well a platform works before signing up.
Another unsettling detail we found with LimaForex is lack of live chat. How do they expect users to communicate with them? An email has been posted at the disclaimer which is not enough. What these scammers are after is making sure they control the communication channel. Any disturbance from authorities or victims will be shut down. In fact, this is a one way communication channel. Lima Forex is commanding the way in which information is passed. It’s simply unacceptable.
Another shocking detail we discovered is lack of any trading platform. Which platform are members using when placing trades? Are they using MT4, MT5, or Sirix platform? Lack of proper details concerning their preferred platform is wanting. Could it be their platform is unstable and thus fail to disclose this vital detail? Anyone signing up with this broker will lose their funds. Unstable platforms leave users vulnerable to third party hacks. Stay away!
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Security of funds is never guaranteed by an offshore broker. Funds are certainly not safe with an unknown broker. What is more perturbing with this broker is lack of depositing and withdrawing channels. How is Lima Forex handling funds deposited by members? Could it be possible members are depositing funds straight to owner’s personal bank account? What these scam brokers do is pathetic to say the least. Signing up with an offshore broker is uncalled for.
When it comes to segregation of accounts, this broker breaks all set rules. Lima Forex is pooling funds in one account which is extremely dangerous. Any broker who merges all assets in one account is either unprofessional or a scam. Putting assets in one single account is against set regulations and rules. Stay clear of this broker since they don’t insure funds deposited by members. Compensating members is out of the question with Lima Forex.
After checking with the evidence gathered, LimaForex is definitely a scam. Make sure to stay away from this broker and ignore all calls to sign up. Anyone joining their affiliate programs is aiding these scam artists to target unsuspecting investors. After receiving calls from their sales agents, don’t give out your personal details. These scam artists are in league with hackers to harvest data.
What we noticed with this broker is how well they have hidden their true identity. By adding this broker to our scam blacklist, we will be protecting our dear readers. Stay away from LimaForex as it’s another brutal Forex scam.
Wishing you all the best in your Forex trading experience.
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