In this review, we will consider one of the most dangerous players in the financial market - LMAX Group, which has already managed to get hold of millions of dollars of gullible hamsters who consider it a reliable service provider. Let's take this office apart and see what picture will appear before us in the end.
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LMAX Group. Website, domain age, official data
Broker's main website:
The website of the LMAX Group company is an extremely complex usability and uninformative resource that looks more like an information blog than the official website of the company. Its design, block design, content mentally sends us to the era of Windows XP, when it was possible to surprise someone with such “director's finds” and pictures on which pixels are viewed.
The structure of the main page includes a header with buttons to navigate to the resources of other companies of the LMAX Group. It:
- exchange for currency trading LMAX Exchange;
- broker LMAX Global;
- cryptocurrency exchange LMAX Digital.
In fact, all this is one gang, whose activities are aimed at only one thing - the divorce of gullible customers. But more on that later.
In addition to the spinning globe and the finance table, the site has a footer where the main menu is located. From it you can also get to the pages of subsidiaries, read a huge pile of useless information about corporate events, achievements, leaders and other nonsense. Such a volume of digitized waste paper was created with one goal - to inspire trust and loyalty of potential customers. But we know what really matters when choosing a service provider. This is exactly what we will talk about in the next chapter.
Expertise of legal information, LMAX Group licenses
Given that the LMAX office provides a UK address in the "Contact" section, there is reason to believe that its activities are regulated by the FCA. At the same time, as many experienced traders know, the action of this organization extends only within the UK. If suddenly you, while sitting in Russia, have any troubles, the regulator will not be able to knock your money out of an unscrupulous broker. After all, the authority of the organization does not provide for the control of trade outside the United Kingdom.
By the way, in the same section there is no information about the manual, details and registration.
Now let's go through the user agreement. The site provides information that you run the risk of losing not only the money you invested, but also an amount that significantly exceeds the deposit. And this means that the broker may well drive you into a debt hole and then threaten litigation and blackmail.
Caused complete indignation and a clause on the complete disclaimer of responsibility. It is in the "Code of Exchange Rules", where it is explicitly stated that LMAX is not required to perform any transactions. Below is a screenshot of the translation.
By the way, all documents on the site are given in English. This is done so that as few foreign users as possible can get to the point.
It is also noteworthy that the versions of the resource in different languages differ from each other. More precisely, pages in Russian, German, Spanish, French and Chinese have differences from the English version. It has a primitive and unattractive design, completely different from the theme of finance. This was done on purpose so that as few users from the UK as possible would want to deal with them. Indeed, otherwise, the office will have to be responsible for the divorce of clients who trusted them. But for residents of other countries, the demand from them is close to zero. This is how unfair it is. Therefore, you need to understand the structure of the market and the procedure for providing financial services.
And finally - the lack of permission to work with users from the Russian Federation and the CIS from the Central Bank of Russia.
This completely frees the hands of scammers and allows them to do whatever they want with your money, remaining completely unpunished by the law. Starting trading with such offices, you voluntarily acknowledge this fact. And even a domain that is over 20 years old will not save your savings.
Terms of work with LMAX Group. Tools for traders and investors
Let's just say that LMAX Group bred play big. After all, the minimum deposit for trading with the broker LMAX Global is 10 thousand USD. Yes, it is possible to work on a demo account. But there is a high probability that everything will be fine for you there. But when you exit for real money, quite predictable problems will begin. After all, such offices often draw successful transactions and a positive balance for their clients trading on a demo account.
We also noticed that the advantages published on the LMAX website, which should distinguish and build up a company from competitors, are quite standard criteria by which decent brokers are determined. So, for example, in the list of advantages of the broker LMAX Global - first-class liquidity, low spreads and fast order execution. Among other "goodies":
- safety of confidential data;
- licensed activity;
- the presence of a large number of awards, the authenticity of which is not possible to verify.
For some reason, every 2nd broker reviewed on binarybets.ru writes about this. Such advantages have not been such for a long time and can surprise only naive beginners who are led to all sorts of enticements.
Reviews from deceived clients of LMAX Group
Despite the fact that the project has been around for a very long time (see the domain age check screen at the beginning of the article), many of the reviews we found only date back to 2021. But this is not as important as the fact that users are, to put it mildly, indignant.
If you fell for the X Group's tricks, share your thoughts on this under this article. Perhaps it is you and your feedback that will save someone from a rash act.
How they are bred in the LMAX Group
The key point that we found during our analysis is that the company does not take any responsibility for your money. After all, if you are not a UK resident, the activity license obtained by the broker from the FCA regulator does not cover your risks. The situation is aggravated by the fact that our friends do not have a license from the Central Bank of the Russian Federation. Although the project is partially adapted for the Russian-speaking audience.
By all rights, LMAX should only operate within the United Kingdom. But in this case, it is precisely with investors from the UK that they refuse to cooperate, because they know that they will get the scruff of the neck for fraud against them. By the way, positive reviews about LMAX from English customers were found on the net. This means that the office works on the principle of "Robin Hood" or an ordinary financial pyramid, taking money from foreign clients and giving it to British ones, not forgetting, of course, to put a pretty decent sum in your pocket (considering that the minimum deposit is 10,000 USD). e.).
When cooperating with LMAX, you run the risk of losing all your investments and even remaining in debt, because your money is not protected by anyone. The following facts testify to this:
- the presence of a UK license, the validity of which applies only within this state;
- lack of permission to work with clients from Russia and the CIS from the Central Bank of the Russian Federation;
- disclaimer in the user agreement;
- uninformative, incomprehensible, low-quality resource;
- negative feedback.
The conclusion suggests itself: the LMAX investment and trading office with signs of a financial pyramid is set up not to help investors increase their capital, but to pump out their money. These guys don't care that they rob people and break human destinies. Stay away from them.
If you are still "lucky enough" to fall into the clutches of the LMAX Group or other black brokers, and you do not know how to get your money back, fill out the form at the beginning of the article. We will send you a step-by-step, illustrated plan of action to be taken to the specified mail.