LordFX Review: Uklordfx.co an Unregulated Mess

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LordFX Review
  • Regulation
  • Fund Safety
  • Contact Details
0.5

Summary

LordFX is a platform that does not trade forex or any other assets. Investors need to be keen when engaging with online entities. Some of them are not legit and you should research to determine the best brokers.

LordFX is a company that calls itself the Lord of investment. This company wants you to believe they are the best forex broker in the market. The only problem with that is that all forex brokers say that about themselves. Even worse, most of these companies are fraudulent and illegal. Do your research before choosing a company to invest with.

In the meantime, we can assure you that LordFX is not a company you want to invest in. This company has a plethora of red flags that render it untrustworthy. You better stick with the top legitimate forex brokers in the market. Such companies have been in the market long enough and can assure you of your funds’ safety.

LordFX Review, LordFX Company

Even better, legitimate companies have professionals behind them. We cannot say this about LordFX. The design of this company’s operations suggests that there are no professionals behind it. These are armatures that only want to steal your money. Do not trust these individuals, as you will indeed lose your money.

This review will look at the different makeups of this company. By the end, you will see why we recommend taking your money elsewhere.

Uklordfx.co Review

This company promises clients the best trading platform in the market. They claim to provide an MT5 trading software. However, we cannot confirm this to be true. This is because the registration link on uklordfx.co does not work. This is by far the most unprofessional thing about this company. The most critical link on their website does not work.

These are not individuals you want to handle your money. They have no idea what they are doing. Nonetheless, they claim to provide daily signals with an 80% success rate. This is just a number that means nothing to them. They just want to attract unsuspecting individuals in order to scam them.

Additionally, LordFX offers training on forex trading. The team claims that the students have an 89% post-education success rate. However, the company does not introduce us to any of their experts. Therefore, it is impossible to tell who these people are and what their trading experience looks like. Never take financial advice from people with unverifiable identities. It is a recipe for disaster.

Further, the customer support by this company is not reliable. Once you send them your money, you will not hear from them. The number they provide on their website is incomplete, and you will not be able to reach them. The only other way to contact them is via email or by filling out a contact form. Sadly, those can go unanswered for days.

Account Types

There are only two account types on uklordfx.co. These include the Demo account and the Real account. There are no tiers or perks depending on your investment.

The Demo account allows you to test the trading environment and see what LordFX has to offer. The company gives you $100,000 to trade on the demo account. Remember that this is only a demo account, and it does not reflect the market. Results in the demo account may fail to replicate in the real market.

The Real account allows you to trade real-world assets on LordFX. The company claims that this platform is very secure. Additionally, they claim it is an industry-standard platform that you will enjoy.

Interestingly, you cannot sign up for any of these accounts. There is no link that works that allows you to access the accounts. We cannot stress this enough. These people do not know what they are doing. These are not the type of people you want to be handling your funds.

LordFX Deposit and Withdrawal

LordFX supports a number of payment options. You can fund an account using Money Transfer EFT, Swift, Credit card, and Cryptocurrency transfers. Most of these payment options are safe for investors. However, cryptocurrency transfers are a cause of concern. You should never use cryptocurrency payments until you are sure that a company is legitimate.

Cryptocurrency transfers are permanent. This means you cannot make a chargeback to recover your funds. Additionally, cryptocurrency transfers are between abstract addresses. Therefore, it is impossible to trace your funds. This makes it easy for scammers to steal your money using this payment option.

Withdrawal procedures follow standard terms and conditions. The processing time will vary depending on the withdrawal method you use. However, the company states that the process will take at least one business day.

Currently, it is impossible to create an account on uklordfx.co. Consequently, we advise against sending these people your money. They will end up stealing your funds and disappearing into thin air.

Founders and Physical Location

It is very common for fraudulent operations to hide the identities of the founders. Additionally, they hide the identities of the founders. Most scammers do this to avoid facing the law in case of a problem.

This is the case with LordFX. The website simply does not introduce us to the team behind the operations. We have no idea who these people are or what their background is. This is despite the company providing trading education to clients. The least they could do is verify their identities and experience.

The address this company provides is also very shady. They claim to have their base of operations at 4343 Euston Rd. We searched for this location on Google Maps and found no relevant establishment. The pinned location they show on the website is on a road.

LordFX Regulation and Fund Safety

No real investor wants to invest in any unregulated company. Such companies are operating illegally in most jurisdictions. This is the case with LordFX. On uklordfx.co, the company states that it operates from the UK. However, we searched the relevant databases of regulatory bodies and found no records for his company.

This makes them an illegal entity in the United Kingdom. Further, LordFX claims to have regulation from the Saint Vincent and the Grenadines islands. However, this jurisdiction does not have a forex regulator. These are false claims that you should not believe.

LordFX Review, LordFX Features

Consequently, we believe that your funds will not be safe with this company. Regulatory bodies ensure that companies have the right banking setup to protect investors’ funds. Without regulation, this setup is not assured.

Additionally, this company does not provide any evidence of systems’ protection. They do not present an SSL certificate to show they have security measures. Even worse, even the browser rates this website as not secure. This means that hackers can easily access and steal your funds. Additionally, they can steal your personally identifiable data.

Final Verdict

LordFX is yet another fraudulent forex broker looking to steal people’s money. We are not even sure if we can call them a forex broker. It is impossible to create an account on LordFX. The unprofessionalism in this company is incomparable.

Even if you could create an account, this company has no regulation. This means that they are operating illegally. They can do anything they want because they have no one to oversee their operations. Further, LordFX cannot assure you of your funds’ safety.

If you are looking for a real forex broker to invest with, this is not the right place. Try the best legitimate forex brokers in the market. They have been in the market longer and can assure you of your funds’ safety.

 

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