The broker LHCrypto is an unregulated broker that claims to have a focus on the cryptocurrency trading. Higher levels of leverages are offered on the three different trading accounts. It also claims to offer a well-established trading platform MetaTrader. The major issue of this broker is unlicensed and unregulated nature. This LHCrypto review is full of facts that must be known before investing in this broker. Please make most of this LHCrypto review.
To make a comprehensive and unbiased LHCrypto review we must discuss all the available advantages and disadvantages of it. Initially, we will discuss the possible advantages of LHCrypto. The product portfolio of LHCrypto includes over 60 crypto coins, around 50 foreign exchange pairs also some commodities, stocks, indices, metals, natural gas, oil, and more. The broker LHCrypto offers high levels of leverages of about 1:500. Traders are advised to be alert while using higher leverages. They can make big profits but can break your investments immensely. Since they are loss oriented many regulated markets have banned them. The trading at LHCrypto can be performed with mere deposition of 10 USD. It also supports the high valued and futuristic trading platform MetaTrader.
Nevertheless, there are plenty of disadvantages to LHCrypto. We will discuss them here. Most prominent of them is its unregulated nature. The broker is situated in Saint Vincent and the Grenadines and owned by Larson LTD and Holz IT LTD. The other company is located in the Marshall Islands. Both of these territories are known to provide the shelter to scam brokers. The broker LHCrypto also fails to offer a free demo account and that’s the reason we could not give you details about the spreads provided. However, generally spreads below 1.5 pips are accepted. The broker’s official website does not contain a most crucial section about terms and conditions or client’s agreement sections. It means the broker LHCrypto can ask any amount, change its withdrawal conditions at any given time. No legit broker does this. Also, Skrill as a payment gateway is not found. The reason behind it may be that the Skrill recently adopted anti-scam policy.
Is LHCrypto scam or legit?
The broker LHCrypto is situated in two different countries that are SVG and Marshall Island. Both of them are notorious territory and provides shelter to scam brokers. The trading condition is not that attractive and a free demo is not available. Therefore, we call LHCrypto a potential scam cryptocurrency broker.