Overview:
Leewaygroups.ltd is a website that claims to offer online trading services in various financial markets, such as forex, stocks, commodities, and cryptocurrencies. However, the Australian Securities and Investments Commission (ASIC) has issued an alert that this entity may be impersonating or falsely claiming to be working with a registered Australian business or licensee. This means that Leewaygroups.ltd is not authorized or regulated by ASIC, and may be operating illegally or fraudulently.
Regulation and Compliance:
One of the most important factors to consider when choosing an online broker is whether they are regulated by a reputable authority, such as ASIC. Regulation ensures that brokers comply with certain standards of conduct, transparency, and security and that they protect the interests and rights of their clients. Regulated brokers also have to keep their clients’ funds in segregated accounts, which means that they cannot use them for their own purposes or mix them with their own money. Additionally, regulated brokers are subject to regular audits and oversight by the regulator, and have to participate in compensation schemes that can reimburse clients in case of insolvency or misconduct.
Leewaygroups.ltd, on the other hand, is not regulated by ASIC or any other authority. This means that they are not bound by any rules or obligations and that they can operate in any way they want, without any accountability or recourse for their clients. They may also be involved in illegal or fraudulent activities, such as identity theft, money laundering, market manipulation, or Ponzi schemes. By trading with Leewaygroups.ltd, you are exposing yourself to a high risk of losing your money and personal information.
Customer Reviews:
Another way to assess the credibility and reputation of an online broker is to look at the customer reviews and feedback from other traders who have used their services. Customer reviews can provide valuable insights into the quality of the broker’s platform, products, customer service, and overall performance. They can also reveal any issues or problems that the broker may have, such as delays in withdrawals, hidden fees, poor execution, or technical glitches.
However, when it comes to Leewaygroups.ltd, there are very few customer reviews available online. This could indicate that the website is relatively new or has a low traffic volume. It could also mean that the website is using fake reviews or deleting negative ones to create a false impression of legitimacy and trustworthiness. The few reviews that we could find were mostly negative, with complaints about difficulty in withdrawing funds, aggressive sales tactics, unresponsive customer service, and poor trading conditions.
Products and Services:
Leewaygroups.ltd claims to offer a wide range of products and services for online trading, such as:
– A web-based trading platform that supports multiple devices and languages
– A variety of account types with different features and benefits
– A selection of trading instruments across various asset classes
– Competitive spreads and leverage
– Educational resources and market analysis
– Bonuses and promotions
However, these claims are not backed up by any evidence or verification. The website does not provide any details about the trading platform, such as its name, provider, features, or security measures. The website also does not disclose any information about the account types, such as the minimum deposit, commission structure, margin requirements, or withdrawal conditions. The website only lists some of the trading instruments that it supposedly offers but does not specify the actual prices, spreads, leverage, or execution speed. The website also does not provide any samples or links to the educational resources or market analysis that it claims to offer. The website only mentions some vague bonuses and promotions but does not explain how to qualify for them or what are the terms and conditions.
Location:
Leewaygroups.ltd does not provide any clear or consistent information about its location or contact details. The website only displays a phone number with an Australian country code (+61), but does not specify the area code or city. The website also displays an email address () but does not provide any physical address or postal code. The website also does not have any social media accounts or links.
This lack of transparency and consistency raises serious doubts about the legitimacy and reliability of Leewaygroups.ltd. It also makes it difficult for potential or existing clients to reach out to them in case of any questions or issues. It also suggests that Leewaygroups.ltd may be hiding its true identity or location to avoid detection or prosecution by the authorities.
Customer Service:
Leewaygroups.ltd claims to have a professional and friendly customer service team that is available 24/7 via phone or email. However, this claim is contradicted by the customer reviews and feedback that we found online. Many customers reported that they had trouble reaching out to Leewaygroups.ltd’s customer service team, either because they did not answer the phone or email, or because they were rude, unhelpful, or aggressive. Some customers also reported that they were pressured or harassed by Leewaygroups.ltd’s customer service team to deposit more money or to accept unwanted bonuses or promotions.
Is Your Money Safe in an Unregulated Company?
The answer is no. Trading with an unregulated company like Leewaygroups.ltd is extremely risky and dangerous. You have no guarantee that your money is safe or secure, or that you will be able to withdraw it when you want. You also have no protection or recourse in case of any dispute or complaint. You may end up losing all your money and personal information to a scam or fraud.
Defensive Measures Against Fraudulent Brokers
If you are looking for a reliable and trustworthy online broker, you should avoid Leewaygroups.ltd and any other unregulated or suspicious entity. You should always do your research and due diligence before choosing a broker, and check their regulatory status, reputation, customer reviews, products, services, and contact details. You should also look for the following warning signs that may indicate a fraudulent broker:
– Unrealistic or exaggerated claims or promises
– Lack of transparency or consistency
– High-pressure sales tactics or incentives
– Difficulty in withdrawing funds or closing accounts
– Unsolicited calls or emails
– Fake reviews or testimonials
Conclusion:
Leewaygroups.ltd is a suspected imposter entity that may be scamming Australian investors. It is not regulated by ASIC or any other authority and may be operating illegally or fraudulently. It does not provide any credible or verifiable information about its platform, products, services, location, or customer service. It may also be involved in illegal or fraudulent activities, such as identity theft, money laundering, market manipulation, or Ponzi schemes. By trading with Leewaygroups.ltd, you are exposing yourself to a high risk of losing your money and personal information. We strongly advise you to avoid Leewaygroups.ltd and any other unregulated or suspicious entity and to only trade with regulated and reputable brokers.
