Uncertain about lplmarket.com platform? Is this broker a reliable broker to trust? Let’s read LPL Financial reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About LPL Financial FX
LPL Financial FX otherwise known as lplfinancial.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
The broker is completely anonymous. It has not revealed any legal information about itself or its alleged registration address.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
What We Discovered about lplmarket.com Regulation
First of, lplmarket.com claims incorporation in the United States and licensed by the appropriate financial authorities.
In order to clear our suspicion, we have to embark into deep research. So, the NFA register shows that although there is a company called LPL Financial Ltd it is not a member of the NFA and is not subject to NFA oversight. This company is only registered with exemptions for commodity pool operator and commodity trading advisor, which prevents it from providing financial services in the US.
Furthermore, LPL Financial does not provide access to Terms and Conditions or Customer Agreement. The only method of contact is email.
Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Remember that reputable brokers would never hide such essential details, just the opposite – they always display all the data regarding their identity and regulation straight away.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Does LPL Financial Have Account Types?
LPL Financial does specified any account type for clients. According to the account descriptions, the maximum leverage reaches 1:100.
LPL Financial deposit is not indicated as well. In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, LPL Financial lacks information about its deposit menu.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
LPL Financial Provides What Trading Software?
LPL Financial offers web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced. Regrettably, when we tried installing the downloaded files, we got to know the website is actually for another obscure trading software – Sirix Station.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
LPL Financial Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that lplmarket.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Bottom Line:
LPL Financial located at lplmarket.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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