Leom Market Review
Investors Alert Leom Market – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements.
Online trading can be a lucrative and exciting activity, but it also comes with significant risks. One of the biggest dangers is falling victim to fraudulent brokers who operate without proper regulation and oversight. These brokers may offer unrealistic returns, manipulate prices, withhold withdrawals, or even steal your money. Leom Market is one such broker that has been flagged by the Financial Conduct Authority (FCA) as an unauthorized entity. In this article, we will review the products and services of Leom Market, its regulatory status, its trader’s reviews, and customer service, and how it operates as a scam. We will also provide some tips on how to safeguard against fraudulent brokers and what to do if you have been scammed.
Products and Services:
Leom Market claims to be a leading online trading platform that offers forex and CFDs trading on various assets, such as currencies, commodities, indices, stocks, and cryptocurrencies. It also claims to provide advanced trading tools, educational resources, market analysis, and professional support. However, these claims are not backed by any evidence or verification. In fact, Leom Market does not disclose any information about its trading conditions, such as spreads, leverage, commissions, or fees. Moreover, Leom Market does not offer any demo account or free trial to test its platform and services. This raises serious doubts about the quality and transparency of its products and services.
Financial institution & regulatory license:
Leom Market claims to be owned and operated by LMFX Ltd., a company registered in Saint Vincent and the Grenadines. However, this does not mean that Leom Market is regulated or authorized by any reputable financial authority. Saint Vincent and the Grenadines is an offshore jurisdiction that does not regulate or supervise forex and CFD brokers. Therefore, Leom Market is not bound by any rules or standards that protect the interests and rights of traders. Furthermore, the FCA has issued a warning against Leom Market on its website, stating that it is an unauthorized entity that may be involved in investment scams. The FCA advises traders to avoid dealing with Leom Market and to report any contact from this entity.
Trader’s Reviews and Customer Service:
Leom Market does not have a good reputation among traders who have used its platform and services. There are many negative reviews and complaints about Leom Market on various online forums and websites. Some of the common issues reported by traders are:
– Difficulty in withdrawing funds or receiving no withdrawals at all
– Pressure to deposit more money or upgrade to higher account types
– Unsolicited calls and emails from aggressive account managers
– Manipulation of prices and execution of trades
– Loss of access to accounts or deletion of accounts
– Threats of legal action or blackmail
Leom Market also does not provide reliable customer service or support. Its website only lists a phone number and an email address as contact options, but many traders have reported that they are unable to reach anyone or receive any response from these channels. Moreover, Leom Market does not have any social media presence or online chat feature that could facilitate communication and feedback.
How do online trading scams operate:
Online trading scams are becoming more sophisticated and widespread in the digital age. They use various tactics and strategies to lure unsuspecting traders into their schemes. Some of the common methods used by online trading scammers are:
– Creating fake websites and platforms that mimic legitimate ones
– Offering attractive bonuses, promotions, or incentives to entice traders to sign up or deposit more money
– Using fake testimonials, reviews, or endorsements from celebrities or experts
– Claiming to have exclusive access to secret strategies, signals, or algorithms that guarantee high profits
– Impersonating regulated or reputable brokers or authorities
– Using phishing emails or calls to obtain personal or financial information from traders
– Using malware or viruses to infect traders’ devices or accounts
How to Safeguard Against Fraudulent Brokers:
There are some steps that traders can take to protect themselves from online trading scams and frauds. Some of the best practices are:
– Doing thorough research before choosing a broker or platform
– Checking the regulatory status and license of the broker or platform
– Reading the terms and conditions carefully before agreeing to anything
– Avoiding brokers or platforms that offer unrealistic returns or guarantees
– Testing the platform and services with a demo account or a small amount of money
– Keeping personal and financial information secure and confidential
– Being wary of unsolicited offers or requests from unknown sources
– Reporting any suspicious activity or contact to the relevant authorities
Leom Market is an unauthorized online trading platform that poses a high risk of scamming traders who deal with it. The FCA has warned against this entity and advised traders to stay away from it. Leom Market does not provide any credible or transparent information about its products, services, or regulation. It also has a poor reputation among traders who have experienced various problems and issues with it. Online trading scams are prevalent and dangerous, but traders can avoid them by following some simple tips and precautions. Traders should always do their due diligence and research before choosing a broker or platform and never invest more than they can afford to lose.