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LTC Markets Review: Ltc-markets.com Crude Forex Scam

LTC Markets Review: Ltc-markets.com Crude Forex Scam

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LTC Markets (Ltc-markets.com) is a ROTTEN Crypto Currency and Forex broker scheming to steal from investors. LTCMarkets is a cruel broker who is intentionally stealing from users who sign up. Investors are blindly signing up with this broker without having a second thought. Members are crying foul after depositing funds with this broker after facing a rude service provider. Make sure you read this detailed LTC MARKETS Review for more.

LTC Markets Review

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LTC Markets Review

After receiving numerous email complaints from members, we knew trouble was brewing. What seems to be a money making website is turning out to be a scam. Why do investors sign up with rogue and unproven platforms? Investors are easily enticed by empty claims and promises thrown at them by scam artists. Professional scam artists know for a fact we all want to make an extra buck. They take advantage of this need by claiming to have the perfect solution. All you need to do is open an account.

LTC Markets is using same old tricks to lure investors to sign up. What they have done is clone a trading website and feign to offer trading services. These are some of the tricks we will be exposing in this detailed review. Thanks to our years of trading experience, we know how to spot scams from a mile away. Make sure to stay away from these scam artist as they promise heaven and deliver hell. These are some of the most outrageous scam professionals the industry is facing.

About LTC Markets

According to their About Us page, they claim to have developed a platform which connects with casual investors. With a contact address which claims to be in Switzerland, we don’t believe it. Scam artists will do or say anything to make sure their products appear to be legit. And this is what makes it a shoddy broker. They are targeting European investors when they post fake EU contact details. What these scam artists have done is use virtual phone numbers to try and validate their contact claims.

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A huge problem with this broker is their level of anonymity. Who are the founding members of this platform? Where can we get the names of the people running this website? Why have they not given members names of CEO or CFO of this broker? Again, these are telling signs we are dealing with a professional scam outfit. A reason why they fail to give answers is they don’t want to face the wrath of authorities. They are afraid of the fall back they would receive from victims.

Is LTC Markets licensed or registered?

Another shocking detail with LTCMarkets is in regards to their license and regulation. There is no proof we are dealing with a licensed entity. LTC Markets is not licensed or regulated by any known regulatory bodies. If their claim of being based in Switzerland is true, they should be licensed by known regulatory bodies. To try and confirm their license details, we contacted leading regulatory bodies. They include ASIC, COSNOB, CySEC, FCA, FSA, NFA, and SEC.

The above mentioned regulatory bodies have never licensed or heard of LTC Markets. And this is why we are openly stating this is a rogue and unlicensed broker. These are brokers who are using no valid details to offer Crypto Currency trading services. A look at their website shows we are dealing with a platform which lacks any legal documents. Where is their client agreement document? Why have they failed to post any licensing or registration number on their website?

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Features/Disadvantages of LTC Markets

Accounts Offered

LTC Markets Types of Accounts

LTC Markets is furnishing users with four different account types to choose from. These accounts are named Beginner, Intermediate, Pro, and Expert. What we found odd with most of these accounts is their similarities. Why would an investor deposit $50,000 and get the same trading conditions as one who deposited $250,000? These are simply brokers who have been scheming on how to trap different classes of investors. Why offer accounts with same advantages?

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Deposit and Withdrawing

Another troubling feature with LTCMarkets is in regards to account funding.  Investors can deposit funds using Bank Transfer, Credit, and Debit card deposit. What we have a huge problem with is withdrawing funds. Members are having a hard time trying to withdraw funds with this broker. Make sure to stay away from a broker who blocks accounts once withdrawal requests have been sent.

No Demo Account

Why have they failed to give investors a chance to try out their platform with a demo account? They want users to blindly open an account and start trading. A demo account gives users a brief encounter of what to expect with a known broker. These scam artists have openly refused to give users a chance to try out their demo account. They don’t want investors to know they are falling into a well laid trap. Make sure to sign up with brokers who offer a free demo account. It helps determine what to expect with a platform.

Unresponsive Response Team

Another perturbing issue with LTC Markets is having a slow and sometimes unresponsive support team. When members send emails in regards to depositing funds, response is quick and timely. Withdrawing emails are never responded to and in some instances, accounts are closed. Why do they lack a proper live chat support dashboard? With this day and time, a broker should be available to members at all times.

Are funds safe with LTC Markets?

LTC Markets Services Offered

Safety of funds is not guaranteed by a broker who is anonymous and using fake claims. Your funds will never be safe with a broker who lacks proper license and registration. How can funds be safe with a broker who is feigning their location? These are professional scam artists who hide their actual intent. Why have they failed to reveal how they handle funds? Is it possible users are depositing funds straight to owner’s bank account?

Another unsettling issue we found with this broker is segregation of accounts. LTC Markets is merging assets in one account which could prove disastrous when bankruptcy sets in. Another horrifying issue is with insuring of funds.

Is LTC Markets a scam?

Without a shadow of doubt, we are dealing with a shoddy broker. LTC Markets is a scam which must be exposed for all parties to know. Make sure you stay away of this broker.

Verdict

LTC Markets Account Funding Options

Adding this broker to our scam blacklist will eventually expose them to our readers. Protecting our readers is our duty which we must uphold. Stay away from this broker at once.

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Wishing all investors a successful trading experience.

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5 Replies to “LTC Markets Review: Ltc-markets.com Crude Forex Scam”

  1. I am currently trading with them now and had no issues with withdrawals? Also I made profit and was able to withdraw, although I have been suspect about this from the start. Wondering if there is any other tell tell signs or if there is any further development with your findings of LTC Markets or David Richmond who is meant to be a senior advisor that I am talking with?

  2. DO NOT TRADE WITH LTC-MARKETS!!!!

    After three months in, I have lost a total of 13K. LTC-Markets is one big scam!!!!

    They know what they do; really. They first let you deposit 250,_EU and make you withdrawal 50,-EU, so you know everything ‘works’. After that, you’re confident because it all works, you will deposit more and their rigged software will make you believe you are making a profit. In the meanwhile, they keep pushing you to deposit more. Once you ask for a withdrawal, things start to be very difficult.

    Suddenly, they tell you that you need to pay tax towards “The Blockchain Department”, in order to clear your winnings. Usually, just as I, people will do this, ending up losing everything, cause even the Blockchain is a scam they’ve made up as well. After that, they are gone and never to be heard of. They don’t respond to anything anymore and you can’t access your trading account anymore. Everything looks legit; documents, e-mail addresses etc. Don’t let it f*** you. They will take your money and you will never hear from them again!!!!!

  3. LTC is a scam based on how they conduct themselves – Totally agree with Carla she is spot on regarding how they operate. I lost just over 5K recently – they believe there own BS. Trustpilot was just a start to show there true colours, report them to the Authorites – police etc. do a charge back via bank depending on how you paid them, They want the client to Pay capital gains tax to withdraw there own money is BS. I spoke to my accountant and solicitor after a call from them yesterday. I asked Ltc for it to be put in a email and nothing since as expected.

  4. Do NOT trade with LTC-Markets; they are completely ROTTEN!
    From deposits to withdrawals; everything is fake!

    Names of a few so called ‘senior account managers’ or ‘Chief A***ytics Officer, Head of Trading Department’: Mark Wirth, James William and James Shawn
    I’ve lost all my money, to never be seen again. They will never let you withdrawal. Stay away from them!

  5. I recently invested my money, 8K total, with LTC-Markets. In the beginning everything was fine and I deposited more money into my account as it looked like I was making a lot. But when I wanted to withdrawal, they ‘froze’ the account without any reason and I was told in order to clear my winnings I needed to pay tax first. When I paid the so-called tax, nothing happened.
    Ever since that day I don’t hear anything from them anymore. I probably will never see my money again. Please do NOT trade with LTC-Markets.

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