Caution Investors Leom Market – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements.
Overview:
Leom Market is a website that operates under the domain name lmtradefx.com. It claims to be a leading online trading platform that offers access to various financial markets, such as forex, commodities, indices, stocks, and cryptocurrencies. However, there is no evidence that Leom Market is a legitimate or regulated broker. In fact, the Financial Conduct Authority (FCA) in the UK has issued a public alert against this entity, stating that it is not authorized to provide financial services or products in the UK.
Regulation and Compliance:
Regulation and compliance are essential factors to consider when choosing a broker. They ensure that the broker follows the rules and standards of the industry, protects the interests and rights of the clients, and provides a fair and transparent trading environment. A regulated broker is also required to segregate the clients’ funds from its own, participate in a compensation scheme, and submit regular reports to the authorities. Leom Market, on the other hand, does not have any regulatory license or registration from any reputable jurisdiction. It is not affiliated with any regulatory body or organization. This means that Leom Market is operating illegally and without any oversight or accountability.
Customer Reviews:
Customer reviews are another way to assess the reputation and reliability of a broker. They can provide insights into the quality of the services, products, features, and support that the broker offers. However, Leom Market does not have any genuine or positive customer reviews online. Most of the reviews are either negative or suspicious. Many clients have reported that Leom Market is a scam that does not process withdrawals, manipulates prices, charges hidden fees, and uses aggressive marketing tactics. Some clients have also claimed that Leom Market has stolen their personal and financial information.
Products and Services:
Leom Market claims to offer a variety of products and services to its clients, such as:
– A web-based trading platform that is compatible with any device and browser
– A wide range of trading instruments, including over 50 currency pairs, commodities, indices, stocks and cryptocurrencies
– Competitive spreads and leverage up to 1:500
– Multiple account types with different features and benefits
– Educational resources and market analysis
– 24/7 customer support
However, these claims are not verified or supported by any evidence. There is no information about the trading conditions, fees, commissions, or execution policies of Leom Market. The web-based platform is not secure or user-friendly. The educational resources and market analysis are outdated and plagiarised from other sources. The customer support is unresponsive and rude.
Location:
Leom Market does not disclose its physical address or contact details on its website. It only provides an email address and a phone number. However, these are not reliable or trustworthy ways to communicate with the broker. The email address is generic and unprofessional. The phone number is registered in the UK, but it does not match the country code of the website domain name (.com). This suggests that Leom Market is hiding its true location and identity from its clients.
Customer Service:
Customer service is an important aspect of any business relationship. It reflects how much the broker cares about its clients and how well it handles their queries, complaints, and feedback. A good broker should provide fast, friendly, and professional customer service through various channels, such as phone, email, live chat, or social media. Leom Market fails to meet this standard. It does not offer any live chat or social media options on its website. It only relies on email and phone communication, which are often ignored or delayed by the broker. Many clients have reported that Leom Market’s customer service is rude, unhelpful, and dishonest.
Is Your Money Safe in an unregulated company?
The answer is no. Your money is not safe in an unregulated company like Leom Market. An unregulated company can do whatever it wants with your money without any consequences or recourse. It can use your money for its purposes, such as paying for its operational costs or funding other fraudulent activities. It can also refuse to process your withdrawal requests or impose unreasonable terms and conditions on your account. If an unregulated company goes bankrupt or disappears, you will lose all your money without any compensation or protection.
Defensive Measures Against Fraudulent Brokers:
If you have been scammed by Leom Market or any other fraudulent broker, you should take some defensive measures to protect yourself and recover your money. Some of these measures are:
– Report the broker to your local authorities and regulators
– Contact your bank or payment provider and request a chargeback or a refund
– File a complaint with online platforms or forums that expose scams
– Seek legal advice from a reputable lawyer or firm
– Educate yourself and others about the signs and risks of online trading scams
Conclusion:
Leom Market is a scam that should be avoided at all costs. It is not authorized or regulated by any reputable authority. It does not provide any reliable or transparent information about its products, services, or features. It has a negative reputation and a history of scamming its clients. It does not offer any security or protection for your money. Do not trust Leom Market or any other unauthorized entity that claims to offer online trading services. Always do your research and choose a regulated and reputable broker that meets your needs and expectations.
