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

There’s no demo account at Lcoin Market, as they aren’t interested in providing a quality service, but rather, earning some quick money. As such, they require you to pay $200 for the base account, with the upgrades being a lot more expensive. The info on the exact specifications of each account is well-hidden, so you can’t really get to know anything before you pay them. But even if you look at what’s written, you can see that nobody bothered to double-check the page, as their VIP account is a downgrade from the previous one even though it’s more expensive.

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 at least uses a decent platform in MT4. However, they couldn’t even follow that through to the end and decided to use a proprietary web platform. Their proprietary platform is clunky, and a straight downgrade from MetaTrader, so the decision confuses us.

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.