Lloyds Markets Review: Llds-group.com is a Shady Broker

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Lloyds Markets Review
  • Fund Safety
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0.5

Summary

According to their story, Lloyds Investing Group is a prominent financial conglomerate based in the United Kingdom. The firm purportedly started in 2009. However, when we checked whois.com, we realized the broker registered their online domain in June 2023. This firm is a big liar and only wants to fool people into believing they are legit.

Lloyds Markets is an unscrupulous forex broker. They try to give an impression of legitimacy, but they are actually fraudsters. In today’s world, many companies pretend to be honest but are not.

Lloyds Markets Review, Llds-group.com Broker

As a trader, beware of such entities and instead trade with honest and trustworthy crypto brokers only. This way, you will avoid the risk of losing money through get-rich-quick schemes.

About llds-group.com

With this broker, you will purportedly succeed online because they are the most respectful broker. This is the impression they want to give potential investors. You can trade forex pairs, ETFs, futures, penny stocks, shares, and CFDs. They have acquired several awards over the years, including “Global Forex Broker of the Year” in 2022 and “Most Transparent Broker.” All this would be good, however, if only it was true.

According to their story, Lloyds Investing Group is a prominent financial conglomerate based in the United Kingdom. The firm purportedly started in 2009. However, when we checked whois.com, we realized the broker registered their online domain in June 2023. This firm is a big liar and only wants to fool people into believing they are legit. They are unreliable, and anyone who wants to succeed in the forex market must avoid them.

Founders and Team

In their history, Lloyds Markets have cited Winfried Bischoff as one of the early pioneers of the financial group. This man was a prominent figure in the banking and financial services industry. Born on May 10, 1941, he held several significant positions in major financial institutions. Notably, he served as the Chairman of Lloyds Banking Group and was previously the Chairman of Citigroup. 

However, he was never associated with this scam broker. They have just used his name to show legitimacy. This is one of the tactics sham companies use. By including Bischoff’s name, they have created an illusion of legitimacy and competency in the financial market.

Lloyds Markets Contact Details

From their contact information, you can reach the broker through email, phone, or physical address. However, we noted that the phone number indicates they are in the UK, while the physical address shows Auckland, New Zealand. This contradictory information is a red flag showing the broker’s inconsistency.

Scam brokers frequently change locations and use virtual offices to obscure their real whereabouts. Contradictory contact details also create a false illusion by giving the impression of a larger, more established organization with multiple branches and points of contact. This deception helps attract more victims and prolongs the scam’s lifespan.

Regulation

No matter how attractive the trading conditions of a broker are, you must never trust an unregulated broker. The first and most important aspect you should consider when selecting a forex broker is their regulatory status. On Lloyds Markets’ website, we found an image of a supposed license from the Financial Commission in Hong Kong.

After investigation, however, we established that this license is fake, and even the Financial Commission, together with Russian financial authorities, have warned citizens against trading with this sham broker. The Financial Conduct Authority (FCA) has not included Lloyds Markets in their list of regulated forex brokers. Thus, they’re unregulated in this jurisdiction.

Lloyds Markets Trading Conditions

The minimum deposit is $250. This is too much because even licensed brokers offer accounts for as low as $5. Newbie traders would have a hard time trading with this broker. The spread is 1.3 pips and leverage is 1:100. This broker cannot be under the FCA because their leverage is too high.

We also noted that they offer traders a choice between cryptocurrencies and other obscure payment methods. This was a red flag because some of these transactions are irreversible.

Final Verdict

Lloyds Markets is a scam broker. Thus, you must avoid them at all costs. Such brokers are unreliable because they don’t put the interests of traders first. The forex trading business has many scammers the best way to avoid them is to trade with reputable and trustworthy crypto brokers only.

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