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LitroFxMarket

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Operating status: SCAM

Website: https://litrofxmarket.com/

Broker violations and abnormal records
  • 2024-04-21 BrokersView has reviewed that LitroFxMarket is an unregulated trading platform

    LitroFxMarket purports to have been established in 2016, yet its domain name was only registered in June 2022. This inconsistency casts doubt on its credibility.

    On its homepage, the company promises a Return on Investment (ROI) of up to 10%, a claim that could be seen as a red flag. Generally, investment activities inherently carry substantial risks due to market volatility and liquidity. The potential earnings in the market largely depend on the investors' knowledge and trading skills. While a trading platform can create a transparent trading environment, offer bonuses, or provide trading tools to facilitate trading, it's nearly impossible to guarantee profits. If a trading platform makes such promises, investors should be immediately alarmed as it may be a ploy to ensnare them.

    Furthermore, this trading platform claims to be domiciled in the US. However, there are no indications that it is registered with the Securities and Exchange Commission (SEC) or the National Futures Association (NFA). This suggests that it is operating in the US without the necessary licenses.

    In essence, LitroFxMarket is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    LitroFxMarket appears to be a scam.

    LitroFxMarket purports to have been established in 2016, yet its domain name was only registered in June 2022. This inconsistency casts doubt on its credibility.On its homepage, the company promises a Return on Investment (ROI) of up to 10%, a claim that could be seen as a red flag. Generally, investment activities inherently carry substantial risks due to market volatility and liquidity. The potential earnings in the market largely depend on the investors' knowledge and trading skills. While a trading platform can create a transparent trading environment, offer bonuses, or provide trading tools to facilitate trading, it's nearly impossible to guarantee profits. If a trading platform makes such promises, investors should be immediately alarmed as it may be a ploy to ensnare them.Furthermore, this trading platform claims to be domiciled in the US. However, there are no indications that it is registered with the Securities and Exchange Commission (SEC) or the National Futures Association (NFA). This suggests that it is operating in the US without the necessary licenses.In essence, LitroFxMarket is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.LitroFxMarket appears to be a scam.
  • 2024-02-17 The Financial Commission flags LitroFxMarket as a scam

    On February 18, 2024, the Financial Commission added LitroFxMarket to its warning list, identifying it as a scam broker. https://financialcommission.org/2024/02/18/scam-alert-litrofxmarke-added-to-warning-list/

    On February 18, 2024, the Financial Commission added LitroFxMarket to its warning list, identifying it as a scam broker. https://financialcommission.org/2024/02/18/scam-alert-litrofxmarke-added-to-warning-list/

Related Complaints

Q&A

Litrofxmarket seems to be a scam, they didn't give me the promised returns, even my deposit.

Bernie Cachinga
Cameroon
2024-04-23
ANSWER LitroFxMarket appears to be a scam.There are three red flags. First, the website's establishment in June 2022 contradicts its assertion of being founded in 2016. This inconsistency casts doubt on the company's credibility.Second, the promise of an exceedingly high Return on Investment (ROI) is a common tactic employed by scammers. It's crucial to understand that no broker or trading platform can guarantee a specific ROI due to the significant risk involved, market conditions, the trader's skill level, among other factors.Third, despite the broker's claims of being US-based and offering financial services in trading cryptocurrencies, forex pairs, and other assets, there's no evidence of it being registered with the Securities and Exchange Commission (SEC) or the National Futures Association (NFA). This suggests it's operating in the US without any oversight.Even more concerning, we've discovered a warning issued by the Financial Commission, identifying LitroFxMarket as a scam. This serves as compelling evidence of the broker's illegitimacy.Therefore, engaging with LitroFxMarket is risky. Dealing with this unregulated broker could result in financial losses. To avoid potential fraud and identity theft, it's recommended to steer clear of LitroFxMarket.
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