LKMInvest (Lkminvest.com) is a CFDs and Forex broker scam to hit the lucrative Forex world. LKM Invest is claiming to be the leader in Forex services and that’s why investors should sign up. LKMINVEST is simply making noise about how good they are to attract unsuspecting Forex investors. An investigation was underway to determine whether these claims were true. Read this detailed and honest review and find out the truth.
Scammers know for a fact that we all love to make money. They take advantage of this need by claiming to offer a solution. Most of the time, their solution includes high and quick returns to attract as many people as they can. Folks, don’t fall for their cheap theatrics, there’s more than meets the eye. Here. We will reveal all the dirty tricks these scammers are using to line up their pockets.
Claims and promises are what scammers use to attract victims. They also ensure that they have an attractive website to lure people in. LKMInvest has done the same with their website. They show a group of folks with a laptop with charts on it. What they intend to do with this image is make the platform appear legit. Folks, this is one of the many unforeseen tricks that we will reveal to you.
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According to the disclaimer, LKMInvest is apparently owned by LKM Groups. What we gathered is that they claim to be situated in London, UK. Problem with this is that this is purely a statement. They have no valid credentials that show us who the real owners of this platform are. And this is a major concern of ours because its clouded with anonymity. Anonymity is a dangerous character to have as a broker.
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A legit broker would easily give out names of the people who are behind the brokerage firm. This would make validation easier as we could easily look at their social media activities. Who is the CEO or CFO of LKM Groups? Fact that they fail to disclose this means we are dealing with an existent entity. In other words, LKM Group is just a front to make LKMInvest appear legit and real.
LKMInvest in not licensed anywhere on the face of the planet. If they have been registered, the FCA would have issued them with a registration number. Folks, we are dealing with a broker who is simply toying with our minds. This broker has no Credentials or documentations to prove that they are regulated. What this means is that we are dealing with an unauthorized Forex broker who’s a fraud.
A real broker would have easily posted their registration documents for all to see. This broker simply has no authority to transact any Forex business. They are unauthorized to transact any Forex business on behalf of third-parties. Anyone who signs up with LKM Invest is committing an offense. Best thing to do is to stay clear from unlicensed and unregulated Forex brokers. They will cause more harm than good.
LKMInvest offers users five different account types to choose from. These accounts include Business, First Class, Premium Class, Economy Class, and Swap Free account. Problem with all these accounts is that they fail to disclose the required minimum deposit. With a Premium Class account, you get an account manager. This is according to the Premium class page. Spreads differ in accordance with instruments used.
This broker clearly didn’t think it all through. They offer accounts with no notable differences. There’s no mention as to the minimum required deposit with each account. This makes what they are talking about a total lie. And that’s clear proof that we are dealing with scammers who think they are brokers. A platform that does not fully disclose trading requirements is a scam that should be shut down.
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According to their homepage, they believe that they have the best trading platform. This broker uses MT4 trading platform. In order to test their platform, we decided to download the platform on various devices. Problems started to occur when download stalled at 56% which is bad news for investors. This means that traders on the go cannot use this platform. It fails to be compatible with mobile and tablet devices.
What this means is that we are dealing with an unstable platform. Unstable platforms are bad news for any investor. They tend to leave users vulnerable to cyber-attacks. What this means is that this platform is easily hacked. Hackers can easily gain access to their platform and steal personal data as well as credit card information. This wouldn’t be the first time that this has happened with an unstable platform, best beware.
There’s no way funds are safe with an unlicensed and unregulated broker. What we’ve gathered is that this broker is simply out to collect funds from users. Did you know that members could be depositing money straight to owner’s personal bank account? This is not the only problem with safety of funds. This site is not SSL encrypted and makes it easily penetrable and a breeding ground for hackers.
LKMInvest does not segregate accounts which means they are pooling funds in one account. In case of bankruptcy, LKMInvest brokerage firm will shut down and you will never get your funds back. This broker does not participate in a compensatory scheme. In case of bankruptcy or insolvency, members won’t be compensated.
One major problem we faced with this broker is that they offer no live chat support. What this means is that users get a bot to chat with. This is unprofessional as one would expect a broker to be always available at all times. Problem with a bot is that they don’t fully answer all your questions as expected. Note that this broker will never answer important queries on time as the bot is useless.
What we did to test this bot was ask a few questions. We asked what was the minimum required deposit to start trading. Answer we got was quite suspicious. All the bot wanted from us was our contact details. LKMInvest wanted our phone number so that they can call us later. Problem with this is that they didn’t specify when. It’s clear we are dealing with a fraud group that’s collecting personal data.
LKMInvest is a scam that’s waiting to pounce on unsuspecting Forex investors. This broker will apparently do or say anything to get your contacts and call you. Make sure you ignore all their calls and emails. Mark their emails as Spam and never click on any links sent by their email marketing team.
Evidence clearly shows that we are dealing with a Scam Forex broker who is out to steal money. Only option we have is to add LKM INVEST on our scam blacklist. Make sure to warn your friends and relatives concerning LKMInvest.
Always go for Tested and Trusted Forex Brokers that are Recognized by the trading community. This is a sure way of making realistic profit margins with Forex trading. Sign up with Industry Recommended Forex brokers and start to see your fortunes change. This is surely a way to make more money with Forex trading.
We wish you all the best in your Forex trading experience.
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