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Beware! LBLV is an offshore broker! Your investment may be at risk.


LBLV is a Seychelles based forex and CFD broker offering several account types on the MetaTrader5 platform and a leverage as high as 500:1. However, we have some very serious doubts about their regulatory status so make sure you read this review first, before opening a trading account with them.

Trading instruments include over 50 forex pairs with a choice of exotic currencies like Brazilian Real, Czech Krona, Danish Krona, Hungarian Forint, Norwegian Krone, Polish Zloty, Russian Ruble, Swedish Krona, Turkish Lira, Chinese Yuan, Hong Kong Dollar, Israeli Shekel, Mexican Peso, Romanian Lei, Singapore Dollar and South African Rand.

There are also plenty of CFDs on indices, stocks, commodities like oil, natural gas, nickel, aluminum, zinc, tin, copper, lead, coffee, sugar, soybean and wheat, precious metals like silver, gold, platinum and palladium and even crypto coins including Bitcoin, Ethereum, Ethereum Classic, Litecoin, and Ripple.

As tested with a demo account the benchmark EURUSD spread was fixed at 3 pips, which is at least twice the level trader would generally consider acceptable with a standard account.

LBLV regulation & safety of funds

LBLV is owned by LBLV Ltd., a Seychelles registered company, but is operated by QuantumTeam OU, a company based in Tallinn, Estonia. The broker says to be regulated by the Financial Services Authority (FSA) of the Seychelles, but that is not serious. FSA is basically just a registry office, keeping record of all kinds of offshore businesses, based on the island and nothing more. They are not a legit financial authority like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) for example, as FSA does not have any requirements whatsoever for the companies registered there.

That leaves us with no choice but to review LBLV as a unregulated, offshore entity with rather limited credibility.

Brokers, regulated by reputable institutions like the FCA in the UK, ASIC in Australia and CySEC in Cyprus on the other hand are required to conduct their operations transparently, filing regular reports and allowing external audits.

Also they have to follow a strict set of financial and ethical rules, among which to keep all clients money in a segregated, protected form creditors account, to provide all clients a negative balance protection, to maintain a certain minimum capital adequacy ratio and in some cases even to insure traders finds.

So if you are with a FCA broker, your trading account will be insured for up to 50 000 GBP, while with CySEC brokers the insured amount is 20 000 EUR.

LBLV deposit/withdrawal methods and fees

LBLV accepts payments in various ways, including major credit or debit cards like VISA and MasterCard, e-wallets like Neteller, Skrill, QIWI Wallet, UnionPay, WebMoney and Yandex and bank wire. The minimum deposit requirement ranges between 5000 USD, for the basic Rookie Account, which in our view is excessive, and 1 million USD with the VIP Account, which is simply absurd.

On top of that we came across some rather unusual clauses in LBLV Terms and Conditions. For example the broker reserves the right to “impose a limit on the withdrawal request, and can also put a limit on the withdrawal per account”.

Also the company says they “ imply several fees for processing the Client’s withdrawals along with transaction fees”, that can be changed whenever the broker decides. All that is highly unusual. Besides, the amount of those processing and transaction fees is not mentioned on LBLV website.

Finally, beware of any trading bonuses LBLV might offer you as they are linked to a minimum trade volume requirement, which will prevent you form withdrawing your finds, unless you have fulfilled it. Unfortunately, we are not told what that minimum trade volume requirement is as well.

How does the scam work?

Scam brokers usually try to hook you with a promise of easy and risk free money and for that purpose there are specially designed robo scam web sites like Crypto Revolt and Bitcoin Evolution. If you come across one of those sites, you will probably watch a nicely cut video add, about how you can get instantly rich by just registering with some innovative trading platform. And if you do register, leaving your e-mail and phone, you will be instantly transferred to the web page of a unregulated, offshore broker, where you will be invited to deposit about 250 USD.

And if you do invest those money and start trading, be sure that your first trades will be amazingly successful. The reason for that, however, will be rather simple – scammers will manipulate your account so that they can more easily convince you to invest more. And surely you will get a phone call as well. It will be from your “senior account manager”, who will professionally explain, that if you want to make some real money you will simply have to invest more – like 10 000 USD.

Chances are that you will be tempted to invest those money as well and actually you will not know that you have been scammed until the moment you decide to withdraw some of your funds. It will turn out you do not have the right to withdraw, because you have not fulfilled some minimum trade volume requirement, possibly linked to the trading bonus you have so carelessly accepted. Of course it could be something else, but the bottom line will be the same – you will not get a single penny back.

What to do if scammed?

Honestly, if you have fallen victim to a scam you do not have too many options. Still, be sure to immediately file for a charge back with your credit card company. Fortunately with their new anti scam policy VISA and MasterCard allow you to file for a charge back within 540 days.

Also, if for any reason scammers have tricked you to give them your online banking password or credit card number, immediately cancel your credit card and change the password for your online banking service.

Finally, if scammers have stolen form you, do not waste your money and time with the so called recovery agencies. You will just be asked for some money in advance and basically that is how the story will end.

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