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LTMTrade Broker Review

We have to look into the broker’s operations even though it asserts to be situated in Ukraine, has a website in Italian, and is purportedly applying for a license. Everything seems to be one giant red sign that demands an in-depth LTMTrade review.

Broker status: Unregulated
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: No Info
Owned by: Sharp Global LLC
Headquarters Country: Ukraine
Foundation year: 2020
Supported Platforms: N/A
Minimum Deposit: N/A
Cryptocurrencies: No
Types of Assets: FX, commodities, indices, stocks
Maximum Leverage: 1:200
Free Demo Account: No
Accepts US clients: No

Regulations and Security

A trademark of the Ukrainian company Sharp Global LLC is LTMTrade. At first glance, we’ve noticed a few peculiar things. The broker claims to be regulated on its front page, however it states under the disclaimer that it is applying for regulation. It is unclear whether the business already has the license or simply chooses to apply for one when you check the tab Legislation because you see some odd claims concerning the Cayman Islands’ regulation.

Thus, we may conclude that LTMTrade is not governed by any regulations and is not required to abide by any norms. Of course, it also means that despite what this dishonest company tried to convince you, you do not have access to the FSCS compensation fund.

Fund Withdrawal Issues 

Withdrawals are one of the most important problems facing any uncontrolled businesses. These companies don’t feel required to pay out clients because there isn’t a regulator in charge of them. Nobody would punish them or ensure that clients were compensated. Because of regulators’ inability to oversee entrants to the financial industry due to the global pandemic, it frequently occurs with new companies founded in 2020 and 2021. Clients are left to fend for themselves and take on dishonest brokers by themselves.

Traders About LTMTrade Scam

Let’s suppose you were a victim of a scam. You won’t be able to say anything flattering about the con artist, in our opinion. That is also the case with the LTMTrade forex broker. Traders complain about withdrawals, but they also claim that account managers use the infamous program AnyDesk to request access to their computers.

Once you provide the broker access, they can transfer the cash without your knowledge or involvement once they have logged into your online bank. You should be aware that such a tool exists and never grant access to strangers.

For these reasons, you should avoid LTMTrade forex broker and similar scammers.

Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.[/vc_column_text][/vc_column][/vc_row]