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LincolnFX Review: Lincolnfx.capital Forex Scam Shown

LincolnFX Review: Lincolnfx.capital Forex Scam Shown

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LincolnFX (Lincolnfx.capital) is another bane CFDs, Cryptocurrency, and Forex scam platform to hit the lucrative trading world. Lincoln FX is claiming to be the platform that enables your money work for you. With such a tagline, most investors have signed up not knowing the real motive behind the website. Members are vexed after the platform refuses to grant them withdrawals. Read this genuine and honest LINCOLNFX Review for more details.

LincolnFX Review

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LincolnFX Review

After reading some complaints from members of this platform, we decided to investigate. What seems like a real trading platform is nothing but a scam stealing from anyone who signs up. Stay away from this platform as it is without a doubt the scam of the earth. Members are having their accounts blocked with balances still reflecting. LincolnFX is a scary platform which is stealing from their members. To avoid such a scenario, you need to stop any interaction with their marketing team.

What we have gathered is that LincolnFX is being run by a team of professional scam artists. There is no way a platform can be legit and still have a high complaint level as seen with LincolnFX. Stay away from this platform as it will steal your money and never give you a chance to respond. These are some of the main reasons why we expose such platforms. To ensure newbie investors don’t fall victim to such unscrupulous platforms. Read this detailed review and find out more about Lincoln FX.

About LincolnFX

Not much information can be said regarding the company LincolnFX Capital Ltd.  No register in Europe, Asia, or America has a company registered with this name. And this is where we must draw the line with LincolnFX. Make sure to stay away from this platform as it is one of the biggest scandals we have seen. With complaints from victims all over the world, this is a scam to avoid.

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No one knows the actual names of the founding members. LincolnFX is not using any name on their website which is quiet sinister. We don’t know the names of people running this platform or the broker associated with it. No broker has come out and associated themselves with this platform. And this is concrete proof LincolnFX is a scam. Make sure to stay away from this platform or else become their next victim.

Is LincolnFX licensed or registered?

LincolnFX License and Registration

With a platform whose identity is shrouded in mystery, Lincoln FX is not licensed or registered. We decided to take a look at various regulatory bodies and get to see whether the platform is licensed. From what we can gather, the platform fails to have any proof of being authorized. Some of the regulatory bodies we contacted include ASIC, CySEC, FCA, FSA, and NFA. None of these bodies has ever licensed this platform. The Italian CONSOB is planning to issue a warning with regards to this platform according to insider sources.

The platform claims to be located in the United Kingdom and has offices in Asia and Switzerland. According to the FCA, this is a cloned website and investors should trend careful. A cloned website is one that uses information from other valid platforms. With such a warning given, you should stay away from this platform. Warnings are as a result of heavy complaints from victims mainly around Europe. The platform also fails to show any valid license and registration number.

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Advantages of LincolnFX

After going through their entire website, we could not come up with any advantage of trading with this platform. Since the platform is blacklisted by UK authorities, Lincoln FX is not worth your money and time. With a warning, users should know the platform has been flagged as a scam by official regulatory bodies. The platform is full of lies and no one should be able to find any profit from it.

Disadvantages of LincolnFX

Account types

LincolnFX Account Types

According to their trading accounts page, Lincoln FX is only furnishing users with a single account type. ECN account is what they claim to offer to anyone wishing to sign up. The problem with this account is lack of proper information regarding features. What is the minimum trading deposit with this account? These are some of the important details missing in regards to accounts. Stay away from this platform or else face the consequences.

Customer Support

Another shocking issue with this platform is lack of live chat support. With today’s technology, you would expect the platform to have live chat support. Emails are one way communication and the response can take more than a month. Phone calls are becoming rather frantic as account managers will harass members with phone calls. You will be called and asked to deposit more money to get a higher profit margin.

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Demo Account

What is missing with their platform is the vital demo account. Without a demo account present, users are signing up blindly. A demo account is vital as it will help you know the speed of execution as well as features involved. Without a demo account, users are signing up blindly which is a shame. Make sure to check out how a demo account behaves before committing to a real account.

Trading platform

The website shows that there are using MT4 trading platform as their preferred tool of trade. The problem with this statement is that their website lacks proper security features. Lack of proper security features such as DDoS and SSL encryption is proof we are dealing with a hoax. Ensure you stay away from this platform and use platforms with proper security setup. Hackers can easily take over this platform and steal credit card information.

Safety of funds with LincolnFX

LincolnFX Trading Platform

How can the platform be secure when users are complaining of lack of withdrawals? Another disturbing feature with Lincoln FX is pooling of funds in one account. What this platform is doing is failure to segregate accounts. Members are depositing funds straight to owner’s bank account. Never expect any compensation as the platform does not insure funds as dictated by law.

Scam or legit

With the FCA already blacklisting this platform, we can solidly claim LincolnFX is a scam. Make sure to mark their emails as spam and never click on any links sent by their email marketing team. Warn your family and friends from joining any of their affiliate programs.

Verdict

We will be adding this platform to our scam blacklist and ensure no one signs up with them.

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Wishing all investors a safe trading experience

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