Lightmarkets: customer reviews on broker reliability
Overview of the Lightmarkets Company and Its Activities
Lightmarkets, by numbers, is a relatively young player in the market, trying to use this to emphasize its transparency and honesty. The company aims to attract newcomers to the trading world, promising safety and support from experienced curators. In this review, we will examine how justified these promises are and what reviews have already appeared regarding Lightmarkets.
Legal Status of the Company and Their Licenses
On the broker’s website, there is a lack of information, no certificates or licenses are presented, and partners are not mentioned. The absence of other localizations besides Russia indicates the company’s local orientation. Information about domain owners and legal registration also raises doubts. The managing company Light Markets Ltd is registered in Saint Vincent and the Grenadines as a simple Business Company.
There are no office addresses and direct phone numbers in the “Contacts” section, which suggests limited access. Contact can only be made through email or a feedback form.
Licenses Provided by Lightmarkets
Registration in Saint Vincent and the Grenadines does not require a license from the local regulator, meaning claims of FSA compliance are false. Furthermore, the broker has not obtained a license anywhere else, putting it in an illegal position in the market.
- International companies must register a branch in the Russian Federation;
- Obtain a Central Bank license;
- Join a self-regulatory organization;
- Ensure transparent working conditions.
None of these requirements has been met, confirming the company’s illegal activities in the Russian market.
Offerings by Lightmarkets in the Market
Lightmarkets focuses on newcomers, offering them free consultations or participation in online seminars. Initial investments start from a minimum amount to attract clients. The leverage ratio of up to 1:200 is prohibited by most regulators, yet Lightmarkets does not strictly adhere to the laws in this regard.
There are no fees for fund transfers, but numerous other payments create inconveniences. Clients also complain about slow order execution and issues with closing some deals. Swaps and commission rates are approximately the same as other brokers, so this should not be considered an advantage.
Reviews of Lightmarkets
Despite advertising efforts, reflected in several videos and positive reviews, real trader reviews reveal the true face of Lightmarkets.
Users claim that the company does not pay out funds, does not allow withdrawal of deposits, and violates trading standards.
Methods of Operation by Fraudsters from Lightmarkets
Like many similar black brokers, Lightmarkets operates through phone scammers, offering users dubious investments and quick profits. Financial analysts lure clients into money, promising easy and safe earnings in the market. However, clients end up with losses, unable to recover their investments.
Summary
Collaborating with Lightmarkets carries significant risks, given their illegal activities and numerous negative reviews from clients. Lightmarkets is a project of fraudsters aimed at luring money from unsuspecting investors. No reliability and transparency have been found in their actions. It is important to be cautious and avoid dealing with such enterprises.