LV Grow Markets review

Overview:

The FX and CFDs broker LV Grow Markets offers many trading instruments on an unknown trading platform. The accounts provided are Basic, Bronze, Silver, Gold, and Platinum. The leverage level is of 1:500 a high ratio. This LV Grow Markets review will help our readers to understand this broker well.

About LV Grow Markets:

The broker LV Grow Markets has FX, many products, indexes, shares, and a variety of cryptos in its product portfolio. The problem with this broker is it is unlicensed and not regulated. The leverage level provided is at 1:500 and considered high. The high leverage can make a huge profit but traders can suffer from high loss as well.

The Vanuatu based firm, Arrow Capital LTD, manages LV Grow Markets brand from Oceania. The website does not provide information on the broker’s managing body. Also, the local financial body named Vanuatu Financial Services Commission does not have registration of LV Grow Markets in its registry. This is evident to call this broker unauthorized. We have come across several scam brokers over the period and funds of the traders pose a high risk of scam with them. Many regulated markets have banned this broker from providing its financial services. Also, FMA the Austrian local financial body has issued warnings against LV Grow Markets.

The trading conditions of LV Grow Markets are not mentioned on the site. Therefore, we surely don’t know about spreads, minimum investment, and commission of this broker. This opaque nature of the broker must be taken seriously. The broker deliberately misses on providing a demo account. The trading platform provided by LV Grow Markets is a complicated online trading platform with many glitches. Furthermore, while testing the real accounts we came across a fixed high spread of 3 pips on EURO/DOLLAR Foreign exchange pair.

The broker also applies many charges to traders. Such as withdrawal charges of 3.5%, profit clearance fee of 0.05%. Also, for two months inactivity, a dormant charge of $200 is applied.

Is LV Grow Markets scam or legit?

The broker has many warnings of FMA against it. The trading conditions are not disclosed on its website. Also, LV Grow Markets apply high charges on withdrawals. The broker is unlicensed and unregulated. The investment is at risk with this forex scam broker.

MGM Markets review

Overview:

The name of MGM Markets resembles Hollywood based film and TV company Metro-Goldwyn-Mayer. In reality, these two organizations do not have any correlation with each other apart from similarity in the name. The broker under consideration provides online trading of many financial instruments. It offers six account types to its clients. Sadly, information on the trading environment is not mentioned. The broker has many serious concerns and we will address them one by one in this MGM Markets review.

About MGM Markets:

The advantages of MGM Markets includes a wide variety of CFDs and competitive leverage up to 1:200. The CFDs are provided on many indexes, commodities like precious metals, and binary options.

The disadvantages of MGM Markets are more in number than advantages. First, the brand MGM Markets is managed by Tube Global Marketing LTD. The address of Tube Global Marketing LTD is missing. There is only a UK based customer support phone number available. Also, the information on the license and regulation of the broker is missing. Considering the UK based phone number we tried to find traces of MGM Markets in the registry of the local financial body the Financial Conduct Authority, UK. And we can admit that the broker is not regulated. The lack of financial regulation means uncertainty on the safety of customer's investments. Furthermore, the forex sites and forums are flooded with complaints about the scam and fraud indicating the poor reputation of MGM Markets.

Another fact of worry is that the MGM Markets fail to provide information on the trading environment. Also, it does not provide a free demo account so traders can see the provided spreads, leverage, and calculate the cost of trading. From this, we can conclude that the nature of this broker is opaque. We opened a live account with MGM Markets to check the trading condition offered. For the Gold account, we found provided spread fixed at 3 pips on Euro/Dollar FX pair. This trading cost is tremendously high compared to the market average. Also, the broker does not offer the MetaTrader trading platform. Hence, clients at MGM Markets fail to get profit-making features like Expert Advice, charting, automated trading provided in MT.

Is MGM Markets scam or legit?

MGM Markets seems to be situated in the UK and it is not regulated by the Financial Conduct Authority. Most of the unlicensed brokers are scams. Also, trading conditions are not feasible for traders. We highly recommend that traders should avoid this forex scam broker called MGM Markets.

TradeLTD Review

Overview:

The FX and CFDs broker TradeLTD provides its traders the five trading accounts. These accounts are said to provide different spreads on the MetaTrader platform. The provided leverage is constant for all the accounts and is up to 1:200. The provided different spreads offered by TradeLTD are not profitable. Also, the broker is unregulated. Please read this TradeLTD review thoroughly to know more about all the associated concerns.

About TradeLTD :

The trading platform provided by this broker is MetaTrader4 it is widely used and most trusted by the traders and brokers. This is the reason most of the FX brokers include it in their offerings. The interface of the MT platform is intuitive, has a great charting package, combined with numerous market indicators and supports automated trading with the help of Expert Advisors. Therefore, MT4 monopolizes the trading market for the decade.

The provided leverage of up to 1:200 is considered moderate, it will apparently please most of the traders. But can cause losses as well. In other words, the provided leverage, offered by the broker, can be advantageous or disadvantageous.

An additional positive side of TradeLTD is its provided trading assets. The trading assets are many including several FX pairs, also many CFDs on commodities, indexes, shares, and cryptos. The available cryptocurrencies include Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Dash, etc. and more.

The owner of the TradeLTD is BUSHIDO TECHNOLOGIES OÜ with the registered address in Estonia. It also has an operational address in Austria. Unfortunately, the TradeLTD is unauthorized to offer financial services in any of the mentioned countries. Another bad thing is that the MetaTrader is provided by the third party named Titanium Tech Solutions LTD which is red-flagged by an Italian financial regulator CONSOB. Also, there is the unavailability of a demo account and it must be treated as the worst scenario.

Besides, the spreads available are not competitive enough and starts from 2.5 pips for the EUR/USD FX pair on the standard account. The offered spreads are two times higher than the market average spreads.

The minimum deposit required at TradeLTD starts from $250 for the standard account. While it may not sound higher but several other regulated and licensed brokers provide the same services at the price far less than this.

Is TradeLTD scam or legit?

The broker under consideration called TradeLTD is an unregulated FX broker. The offerings are less tempting considering the cost of trading. Also, the major concern of licensing is poorly facilitated and poses risk to the investment. Hence, we can say that the TradeLTD can be forex scam and must be avoided at any cost.