Deception: LOSK trading
Scammers rarely limit themselves to one project and always look for new opportunities for deception. When the number of detected fraud reviews becomes too many, they quickly change their approach and come out in the open under a different name. Today we will discuss the activities of one of these pseudo-brokers — LOSK trading. From an objective review, you will learn how to recognize suspicious behavior of this company and why contacting them is dangerous.
Main facts about LOSK trading
According to documents, LOSK trading claims to have been providing brokerage services since 1998 and is currently represented in more than 70 countries worldwide. In addition, the company reports partnerships with well-known liquidity providers such as CCB, ICBC, HSBC, and others, allowing it to ensure instant order execution and client fund security.
Scammers hope that newcomers will believe them without verifying the information’s authenticity. We always recommend carefully studying the company’s duration of operation, as it is an indicator of its reliability and honesty. Through a specialized service whois, we learned that the limetrading.org website was registered in November 2023. Although the new project is just starting to develop, there are already negative reviews from experts about their experience.
Clients complain not only about the quality of brokerage services and financial stability but also about customer support. Verification showed that the provided email addresses and phone numbers turned out to be fake. You can see this for yourself in the attached screenshot.
Furthermore, it was found that these same contact numbers were used on websites of other suspicious brokers (Investgeo, Finupcorp, Finmdrive, and others). It is evident that all these resources belong to the same scammers who periodically change domains to cover their tracks.
Company’s legal status
The LOSK trading website states that the company operates as a trading agent in Switzerland with its main office in Bern. However, the broker does not specify the exact location of its representation. We could not find legal documents confirming the presence of a license in this country. But thanks to access to the local regulator’s register, we were able to find out if LOSK trading is licensed to provide brokerage services.
As it turns out, LOSK trading is not among the licensed entities by FINMA. This is a typical case of an unscrupulous company.
Internal information also revealed that LOSK trading operates under the offshore legislation of Saint Vincent and the Grenadines. However, this is not true. Firstly, the company of a similar type is not listed among the beneficiaries of the island state. Secondly, this state does not issue licenses to binary and forex brokers, as warned by the official resource of Saint Vincent and the Grenadines.
Commercial proposal terms
In the legend of LOSK trading, it is claimed that the broker has its own web terminal, which works flawlessly. However, user reviews indicate that the company does not take responsibility for the platform’s performance and does not provide an opportunity to test it on a demo account. Immediately after registration, you will have to engage in risky actions with real funds. The main features of the commercial proposal:
- over 200 trading instruments (currency pairs, indices, stocks, metals, energy products, cryptocurrencies),
- spreads from 0.6 points,
- leverage up to 1:100 (depends on the chosen asset),
- no commissions on deposits and withdrawals,
- minimum deposit – $500 (5 tariff plans),
- free education and analytics,
- welcome bonus from 50 to 150%.
Reviews of trading with LOSK trading
As in previous cases with fraudulent projects, reviews of LOSK trading are exclusively negative. The company does not fulfill its obligations and is only interested in increasing its own profit. People lose significant amounts and cannot recover their funds. Detailed information on how fraud occurs on the fraudulent platform can be obtained from former clients’ reviews.
If you have experience trading with LOSK trading, share it under our comprehensive review to pass on truthful information to others. This will help new traders avoid substantial losses.
Deception tactics for newcomers in LOSK trading
The entry threshold at LOSK trading is far from the lowest, but scammers claim that this approach helps weed out “weaklings.” They also promise to provide free training on trading, excellent analytics, and technical support. Newcomers are convinced with generous bonuses and the opportunity to trade with leverage. Given the manipulated nature of the trading platform, earning here is almost impossible. Trades will end in losses, and with the use of bonuses and leverage, the user will quickly fall into a deep debt crisis.
Final words
With LOSK trading, you risk losing all your savings. Scammers keep you captive, and untold money goes to waste. If representatives of this suspicious company try to contact you, do not hesitate to blacklist them. Do not trust this deception!
