| General Information | |
|---|---|
| Broker Name: | Lcoin Market |
| Broker Type: | Forex |
| Country: | Saint Vincent and the Grenadines |
| Operating since year: | 2016 |
| Regulation: | None |
| Address: | Beachmont Business Centre, Suite 91, Kingstown, St.Vincent and the Grenadines |
| Broker status: | Unregulated |
| Customer Service | |
| Phone: | +44-20-8089-1061 |
| Email: | [email protected] |
| Languages: | English, Italian |
| Availability: | 24/5 |
| Trading | |
| Trading platforms: | MT4, Proprietary Web Trader |
| Trading platform Time zone: | - |
| Demo account: | No |
| Mobile trading: | Yes |
| Web-based trading: | Yes |
| Bonuses: | Yes |
| Other trading instruments: | Yes |
| Account | |
| Minimum deposit ($): | $200 |
| Maximal leverage: | - |
| Spread: | - |
| Scalping allowed: | No |
Broker Review: Lcoin Market
CONTENT
- GENERAL INFORMATION
- FUNDS TRADING AND SECURITY
- TRADING ACCOUNTS
- TRADING CONDITIONS
- TRADING PLATFORM
- Lcoin Market’S TRADING PRODUCTS
- CUSTOMER SERVICE
- CONCLUSION
General Information
As soon as you open up Lcoin Market’s home page, you are greeted with some questionable information. Allegedly, they’ve been around for over 25 years in total. They spent the first 22 as a hedge fund for corporate clients before evolving into a broker into 2016. That sounds great, but there are two major issues with the claims.
Firstly, there’s no proof of the 22 years anywhere, so the claim has no substance. Secondly, mentions of the broker are rare, and the first ones are from early 2020. It’s difficult to believe they’ve in the online brokerage world for four years without anybody noticing.
We investigated further and are quite sure the statements are false, and that the broker has malicious intent. We’ll present our findings further in our Lcoin Market review.
Funds Trading and Security
We already went over the false info they Lcoin Market has on its landing page. Allegedly, they’ve been a very successful company for over two and a half decades now. What puzzled us was that such a prestigious company would open up their offices in an offshore location. Furthermore, why would such a prestigious company be running without any sort of license?
The answer is quite simple; the entire “experienced company” act is entirely fake. Lcoin Market is a scam parading as a well-intentioned investing assistant group. Their lack of regulation and offshore location aren’t the only indicators to that, as it becomes even more apparent when we move onto accounts.
Trading Accounts
As you’ll see further in our LcoinMarket.com review, not being able to see info without paying is a common occurrence with the broker.
Trading Conditions
Unfortunately, we can’t tell you much about Lcoin Market’s trading conditions, because they don’t give out any meaningful information. We can’t find info about leverage or spreads anywhere, let alone investment or deposit methods. The absence of anything meaningful speaks volumes, however, as it’s a clear indication of untrustworthiness.
Trading Platform
Lcoin Market’s Trading Products
As we already warned you earlier in our Lcoin Market review, the absence of info is common on their website. That trend applies to their assets as well, since you can see what categories there are, but no specific info on the available trading products.
Customer Service
Lcoin Market at least did more than the usual scam broker in terms of organizing a support team. They have phone lines in multiple countries, and an email you can use to contact them. They are still way below actually competitive brokers, as they haven’t stated their customer service team’s work time, or organized a live chat team.
UK Phone: +44-20-8089-1061
Email: [email protected]
Conclusion
Lcoin Market’s landing page greets you with a straight-up lie, and the rest of the website lacks meaningful information. That’s not the way brokers that actually provide services work. What this broker is doing is hoping for you to invest $200 so that they can transfer that money straight to their own pockets.
Don’t buy into the Lcoin Market scam. You’re online, and there’s more quality brokers than you could ever count, so don’t settle for one trying to trick you.
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Support
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Platform
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Spread
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Trading Instrument
Poor broker service
Poor brokers and customer service. They do not attend to trading needs and don’t even respond to messages.
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Do not trust them
Do not trust them with your hard earned money. They are not a good broker in the first place.
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Bad people
Bad people. Stay away from them. They ask me for all my information and took all my hard-earned money.
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Unregulated broker
Do not deal with this trading company. They are not legit and unregulated.
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Bad broker
Trusting this broker was my biggest mistake. They have stolen all my money.
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Withdrawal problems
Do not trade here. I encounter so many problems specially when it comes to withdrawals.
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Worst experience
Worst experience. I have lost a fortune overnight.
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Do not invest
Poor broker company. Do not invest money here.
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Bad broker
They hand up on me on topics of withdrawals but are very prompt on deposits. Bad broker.
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Slow withdrawals
Slow withdrawals. I am not happy with what they’ve done to me on withdrawals.
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Avoid this broker
Avoid trading with this broker, they are not a good company.
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Unable to withdraw
I had a couple of bad experiences. One is that I was not able to get my money and the second people are rude and demanding.
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Not worth it
Not worth my money and time. I did not gain profit trading with this broker.
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Poor signals
Customer service is good but signals are not poor and so I had to switch to a different broker.
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Poor services
They denied my withdrawal without any valid reason. Poor broker services.
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Horrible broker
I had an extremely horrible experience with this broker service. They have given me so much trouble in my withdrawal request. I am not trading with them again and will never recommend them to anyone.
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Poor broker services
Slow withdrawals and poor customer service. I am unhappy with this broker service and so I quit.
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Huge fees
I am surprised with so many trading fees and charges. I paid more than the profit I get. Just a waste of time.
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Poor broker services
Slow withdrawals and poor customer service. I am unhappy with this broker service and so I quit.
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Technical problem
Had so many technical problems with their tools. They used this as a technique to let you lose.
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Not recommended
Bad customer service and the worst trading platform I have ever used. Not recommended.
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Bad broker company
Trading with them has caused me so much trouble. Do not deal with this broker company, not good at all.
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Poor services
Poor services. Aside from withdrawal which is really very difficult, customer service is unresponsive.
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Do not invest
Poor broker company. Do not invest money here.
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Scammers
There are so many suspicious things about them. I was a victim of their scam, do not deal with them.
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Worst brokers
I dealt with this broker service in the past and here is what I have experienced, they manipulate trades without consent. It sickens me to see close trades that I was never informed of.
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Poor customer service
Bad-mannered customer service sounded very arrogant and disrespectful. I am not recommending them.
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Do not invest
Do not invest money here. It is not worth your money and time.
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Not good
I never had a good experience and I’ve got no reason to recommend and keep this broker service. Not good at all.
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Harassing
This ain’t a decent broker for forex trading. They sounded so harassing and manipulating.
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Poor customer service
Poor customer service. I can not get good answers from them.
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Do not deal
Do not deal with them, do not trust them with your hard-earned money. You will end up losing all.
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Not recommended
Poor customer service and slow withdrawal process. I won’t be recommending this broker service at all.
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Unprofitable trading instruments
Although this broker service has a wide array of trading options, nothing among the options is profitable. I am not so sure if it is the trading instrument that isn’t profitable at all or if the broker signals are not good enough.
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Poor broker service
Not a good broker. Stay away from them.
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Do not cooperate with this broker
Do not cooperate with this company, they are thieves and cheaters.
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Withdrawal process takes time
The only problem I had with this broker service is their withdrawal process which takes so much time.
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Poor customer service
Poor customer service. They can not assist me in my trading needs and can not seem to understand English fully.
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Inefficient brokers
Do not deal with them. They are inefficient brokers
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Irresponsible broker
Irresponsible brokers and customer service. Their negligence has caused me too many losses.
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Poor broker performance
I trusted them so much because I know that they are a big company and have been in the industry for long years. But I was wrong, I have lost money instead.
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Bad broker
They blocked my account. I need my money back.
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Bad broker
I joined this broker sometime last year and I regret doing so. I have lost all my money and I am unable to get the remaining balance on my account. Do not trade with them.
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Slow withdrawals
Slow withdrawal and slow customer service. Unreliable signals and inefficient services. No good reason to keep the services.
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Bad broker
The product is misrepresented on their website. Does not really work well.
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Inefficient broker
Inefficient broker service. I never had anything good to say about this broker. They are one of the worst brokers in the forex market.
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Slow withdrawals
I have traded with this broker in the past and based on my observations, they have really very slow withdrawal process.
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Stay away from this company
Stay away from this trading company. They will surely force you to give them all your money and will let you lose.
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Horrible broker
I had an extremely horrible experience with this broker service. They have given me so much trouble with my withdrawal request. I am not trading with them again and will never recommend them to anyone.
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Scam broker
Scam broker. Do not invest money here.
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Not profitable
It is more of a game of chance. Market forecasts are not profitable.
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Too much charges
Stay away from this cheater broker. You will never get anything here. I have lost so much money on their trading. And they’ve come up with so many charges which I think are too much.
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Bad broker
Don’t fall for their trading offers. It’s a trap, all they want from you is your money.
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Poor signals
Poor signals and unprofitable trading advise. I also had a hard time processing withdrawals.
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Not good
I never had a good experience and I’ve got no reason to recommend and keep this broker service. Not good at all.
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Complicated platform
Very complicated trading platform. It is not nice to work with them.
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Poor customer service
Very poor customer service. They don’t even care at all.
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Slow withdrawals
Slow withdrawal process and poor customer service. Avoid dealing with this broker, not good at all.
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Huge charges
Huge transaction charges. I was surprised to pay a whole lot.
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Bad broker
Trusting this broker was my biggest mistake. They have stolen all my money.
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Bad customer service
Bad customer service. They are not accommodating and prefer to ignore trading concerns.
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Worst trading tools
They have the worst trading tools. Aside from it being very confusing, I always encounter errors affecting my trades.
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Poor trading software
Poor trading software. I will have to face too many technical problems.
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I lose huge money here
I did deposit for the second and third time because I thought that losing for the first time is normal and maybe I can recover on succeeding trades. But losses become huge.
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Worst company
They are one of the worst companies I have ever traded with. Not a good company to trade with.
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Deny withdrawal request
They keep on denying my withdrawal request. I’m afraid I am not gonna be able to get my money with them.
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Poor trading software
There are so many technical problems that really affect my trades. Poor trading software.
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Worst customer service
Worst customer service and broker to deal with. They do not know when to listen.
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Bad broker
Trusting this broker was my biggest mistake. They have stolen all my money.
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Poor services
Poor services. I am never happy nor satisfied with any of their services and tools.
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Do not deal
Do not deal with them, do not trust them with your hard-earned money. You will end up losing all.
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Refuse to pay profits
Refuse to pay profits. I have a few profits and requested a withdrawal for the first time, however, they never let me withdraw money. They even ask for more money from me saying I need to place more trades in order to qualify for withdrawals which is totally absurd.
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Do not trade
Worst customer service and slow withdrawals. Do not trade with them.
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Money launderer
Do not be afraid to report these goons to the authorities. They are money launderers.
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Slow withdrawals
Very slow withdrawals. This is the only thing I do not like about them. That is why I quit trading with this broker.
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Scammers
Scammers. Stay away from them.
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Slow withdrawals
Slow withdrawals, choose a different broker. Do not deal with this one.
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Poor broker company
Slippage becoming greater and there are so many fees and charges. These are just among the bad things I have observed from this broker.
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Not accurate signals
The trading signals and market analysis are not accurate at all.
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Frustrating withdrawals
I am so frustrated with the very tedious and slow withdrawals. I will never trade with this broker again.
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Technical problem
Had so many technical problems with their tools. They used this as a technique to let you lose.
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Slow withdrawals
Frustrated that I have to wait long enough for my withdrawals. They ask me to wit every time I do a follow-up call.
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Bad customer service
Bad customer service.Really very frustrating and annoying.
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Poor services
Poor services. Not a good one to deal with.
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Awful broker company
Awful forex trading company. poor trading signals, I feel like they are not trained and are not good enough in online trading.
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Not a good broker company
This isn’t a good company to trade online. They are just random brokers, I am not even sure if they are regulated.
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Stay away
Stay away from these bad people. They have taken all the money from my bank account.
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Poor services
Poor trading services. Will never trade with them again.
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Poor customer service
Poor customer service. They can not assist me in my trading needs and can not seem to understand English fully.
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Poor broker services
Slow withdrawals and poor customer service. I am unhappy with this broker service and so I quit.
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Hard time on withdrawals
I regret joining this broker. I am having a hard time with my withdrawals.
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Rude and disrespectful
Rude and disrespectful customer support. I am very much annoyed with how they treat me over the phone.
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Poor trading software
There are so many technical problems that really affect my trades. Poor trading software.
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Worst trading services
The only positive I could mention is customer support but the rest of the services are worst. I get more losses and less profit.
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Poor services
Not a good broker company. Poor services.
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Do not invest
Poor broker company. Do not invest money here.
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Stay away from this broker
Stay away from this broker company. They keep on asking for deposits but can not even process a simple withdrawal.
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100% scam
100% scam. These are criminals hiding behind a decent website.
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Poor broker
Just a waste of money and time. Poor broker.
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Useless trading advise
Useless trading signals. I get more losses following their advice.
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Rude and disrespectful
Rude and disrespectful customer support. I am very much annoyed with how they treat me over the phone.
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Poor broker performance
I trusted them so much because I know that they are big companies and have been in the industry for long years. But I was wrong, I have lost money instead.
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Avoid this broker
Avoid them totally. They seem to manipulate trade and collect all your deposits. I get consecutive losses which are very suspicious.
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Poor trading company
Poor trading company. They opted to deny the withdrawal request because they really do not have plans to give me money.
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Deny withdrawal request
They keep on denying my withdrawal request. I’m afraid I am not gonna be able to get my money with them.
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Not worth it
Not worth my money and time. I did not gain profit from trading with this broker.
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Rude and disrespectful
Rude and disrespectful customer support. I am very much annoyed with how they treat me over the phone.
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Bad customer service
Bad customer service. They are very unresponsive and a bit rude at times.
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Bad broker
Trusting this broker was my biggest mistake. They have stolen all my money.
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Poor broker performance
Poor broker performance. Can’t remember getting anything good from the trades.
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Stay away from this
Some kind of a smart scam. Stay away from them.
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Poor broker performance
I wonder if this broker is really operating for a long time, overall performance is not good at all.
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Annoying withdrawal process
I am so annoyed with this broker. My first 2 withdrawals are really the worst. Very slow and difficult.
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Slow withdrawals
Slow withdrawal process and poor customer service. Avoid dealing with this broker, not good at all.
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Stupid customer service
Stupid customer service. They can not comprehend and has poor communication skills.
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Slow withdrawals
Slow withdrawals. I always had runarounds whenever I ask for withdrawals.
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Do not invest
Poor broker company. Do not invest money here.
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Worst experience
Worst experience. I have lost a fortune overnight.
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Worst broker
The worst trades ever. Signals and trading advice don’t work at all.
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Worst company
They are one of the worst companies I have ever traded with. Not a good company to trade with.
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Scam broker
Scam broker. Do not invest money here.
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Slow withdrawals
Slow withdrawals with so many runarounds. Not a good one to trade with
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Poor broker company
Slippage becoming greater and there are so many fees and charges. These are just among the bad things I have observed from this broker.
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Rude brokers
They are very rude. That is my observation during the time that I am trading with them. Have even force me to put more money.
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Do not deal
Do not deal with them, do not trust them with your hard-earned money. You will end up losing all.
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Rude brokers
Do not trade with these trading brokers. Most of the time, they are rude and demanding.
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Unhappy with services
I am not happy with the services and with the profit either.
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Annoying broker
Annoying forex broker. They keep on asking for money.
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Inaccurate analysis
I traded with this broker in the past. And what I have observed is that this broker do not give out accurate market analysis and trading advice resulting to lose more.
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Useless signals
Useless signals. It is better to trade on my own.
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Manipulate trades
Manipulates trades. I have lost so much money on this.
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Bad services
The trading platform is always down and customer service is always unavailable.
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Worst services
Worst services for forex trading. Signals are low and withdrawals are slow. The people are a bit rude and unhelpful.
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Worst withdrawals
Not just slow withdrawals but also there are so many required documents that are very difficult to provide.
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Poor forex brokers
I felt like what they have is manipulative trading because the movement of the chart will always go against my trading positions. Funny, I am following their broker signals.
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Stay away from this broker
Stay away from this broker service. They will start to be difficult to contact and you will start losing more money on a later part.
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Difficult withdrawal process
Very shady processes. I am a bit in doubt about this broker service because of their withdrawal policies. I always have a hard time requesting a withdrawal.
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Do not join this broker
Do not join this broker service. I have so much regretted using their services. I have noticed that they only let me win for the first time to convince me to add more money but eventually, they let me lose all. I felt like they are fake brokers and the trading they have is not real.
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Stay away from this
Stay away from this broker. What they have is total junk. No chances of winning.
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Fraud
Fraud trading brokers. Do not invest money here.
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Slow withdrawals
Very slow withdrawal process. I have to wait for almost a month.
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Scammers
Stay away from these people. They are scammers.
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Do not deal
Do not trade with this broker, they do not pay a profit.
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Worst trading results
I was offered good deals but on the actual trading, I get the worst results. Not recommended.
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Slow withdrawals
Very limited payout channel and very slow withdrawal process. They make the process very difficult and almost impossible.
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Rude customer service
Extremely rude customer service. Very upset with how they’ve treated me over the phone.
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Useless broker
Useless broker services. Gets you nothing but losses.
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Poor services
Poor trading services. I do not recommend trading with this broker.
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Bad people
They should be reported. They keep on doing cold calling even to DNC numbers.
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Fake broker
Do not dare to trade with them, they’re fake.
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Poor company
Poor company for online trading. I can’t recommend them.
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Horrible services
Horrible trading services. I lost money on their online trading. Do not deal with them.
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Poor trading results
Poor trading results. Signals aren’t good at all. I have tried trading with them for a month and I immediately quit to prevent bigger losses.
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Do not trade with them
They are scammers. Do not trade with them
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Poor trading platform
I always encounter technical errors which greatly affect my trades. That is why I had to quit trading with this broker.
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Poor trading offers
Do not take any of the offers. They are not good at all.
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Do not pay profit
They do not pay a profit. I have requested to withdraw the profit but they just won’t let me. The first time they said no, they back it up with valid reason and so I understand however on the second and thirst attempt it happens for different reasons, I felt something is really wrong.
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Poor services
Poor services, withdrawal is very slow and customer service is very unresponsive. Could have been a good broker because signals are quite okay but the rest of the services really sucks.
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Poor broker performance
Poor broker performance. The signals are not profitable, services are also one of the worst especially customer services who are always unavailable all the time.
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Do not trust this broker
Do not trust this broker with your hard-earned money. I lose huge on their trading and regret dealing with them.
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Unreliable
Unreliable broker services. I can’t even depend on the services and signals and withdrawal is very slow.
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Poor trading signals
Not the worst but not a good broker. Services are fine but signals are poor.
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Not recommended
I do not recommend this broker service. I have observed while trading with them that there is a constant price increase and that withdrawal is very slow.
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Poor trading platform
I notice some glitches and technical problems on their trading platform and you know what’s worst? They do not pay attention to trading concerns such as this.
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Bad forex broker
I have used their services for just 3 months. They will lure you by showing your profits and possible income once you increase your deposit but they will never let you withdraw. And if you insist on withdrawals, the next thing you will see is losing trades, as if all here are programmed.
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Very unresponsive
I am not getting any replies to my withdrawal queries. I have been waiting for them to resolve the problem regarding my missing withdrawals. Very unresponsive.
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Worst broker
Worst services and worst withdrawal process. Do not deal with them, I am not trading with them again.
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Unpleasant customer service
Customer service is not well train on processes even behaviors. They are very unpleasant.
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Worst broker
I always get no answer from their support team. Worst broker.
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Poor broker performance
I got more losing than winning trades. Not so accurate signals and poor broker performance.
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Not advisable to trade with
It is not advisable to trade with this broker, signals are very poor and trading options are expensive.
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Customer service is not always available
Customer service isn’t always available to assist. I’ve always been having a hard time contacting them.
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Bad company
Bad company! They did not give me my money back.
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Unable to withdraw
I will not trade with this broker anymore. I was not able to withdraw anything.
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Dishonest broker
Dishonest and cheaters. They hide so many terms that only pops up when I started asking for withdrawals.
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Poor signals
Poor trading signals. Very unprofitable.
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Will not let you withdraw
They will never let you withdraw. It happens to me and to almost all traders dealing with them.
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Stay away
Stay away from thier trading schemes. Many had been a victim including me.
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Fake broker
Do not get involved with any of the offers. They are fake brokers.
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Not a legit broker
Do not trade with these people. They are not legit.
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Worst broker services
Worst broker services. Services are inefficient and people are very rude.
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Slow withdrawals
Slow withdrawals. Very annoying wait.
Did you find this review helpful? Yes (1) No (1)
Useless trading services
Useless trading services. Find a better broker and avoid this company.
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Unhappy with services
I am not happy with the services and with the profit either.
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Waste of time
I gain very minimal profit. It is just a waste of time.
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Not good
The software has so many technical issues. Not good.
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Poor trading facilities
Poor trading facilities. Not a good broker to deal with.
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Scammers
Keep yourself safe from these scammers. They will only cause you trouble.
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Stay away
Stay away from this broker service. They are not reliable brokers.
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Unreliable signals
Unreliable trading signals and services. Do not trust this broker.
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Avoid this broker
Save yourself from losses. Avoid this broker by all means.
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Rude customer service
Extremely rude customer service. Very upset with how they’ve treated me over the phone.
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Scammers
Block their calls if possible. They scam people.
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Scam
Stay away from their trading schemes. It is a scam!
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Slow withdrawals
Terrible trading services. Withdrawal is very slow.
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Unable to withdraw
Something really fishy is going on. I am unable to withdraw.
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Slow withdrawals
Very very slow withdrawals. I had so much runaround. I am not trading with them again.
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Beware
Beware of these people. They are notorious scammers.
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Scam broker
Scam broker. Do not invest money here.
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Rude customer service
Rude customer service. They are very very unprofessional.
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Unhelpful and rude
Extremely unhelpful and rude.
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Unregulated broker
This is an unregulated broker and therefore can not be trusted with your information or money.
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