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LotsFX

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Operating status: SCAM

Website: https://www.lotsfx.com

Broker violations and abnormal records
  • 2020-02-09 The Spanish regulator CNMV added LotsFX into the unregistered firm alert
    The Spanish National Securities Market Commission (CNMV) warned the public that the firm is not authorised to provide the investment services in the country: https://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&nombre=LotsFX
    The Spanish National Securities Market Commission (CNMV) warned the public that the firm is not authorised to provide the investment services in the country: https://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&nombre=LotsFX
  • 2021-08-22 BrokersView has reviewed that LotsFX is an unregulated forex broker
    LotsFX claims to owned and operated by the LOTSFX LLC, a financial investment services firm authorized and regulated by the British Virgin Islands Foreign Exchange Commission (BVI FEC) under the license no. 335 LLC 2008 and the Financial Sector Conduct Authority (FSCA) in South Africa under lincense no. 69534. First of all, the regulator in the BVI is Financial Services Commission (BVI FSC) rather than the alleged BVI FEC. In addition, we didn't find any regulatory information about this broker in the register of BVI FSC and FSCA. LotsFX also claims to be a UK-based company, however, it is not licensed by the UK's Financial Conduct Authority (FCA), since no such matching was found when we checked on FCA. So LotsFX is currently not regulated or not overseen by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker. 
    LotsFX claims to owned and operated by the LOTSFX LLC, a financial investment services firm authorized and regulated by the British Virgin Islands Foreign Exchange Commission (BVI FEC) under the license no. 335 LLC 2008 and the Financial Sector Conduct Authority (FSCA) in South Africa under lincense no. 69534. First of all, the regulator in the BVI is Financial Services Commission (BVI FSC) rather than the alleged BVI FEC. In addition, we didn't find any regulatory information about this broker in the register of BVI FSC and FSCA. LotsFX also claims to be a UK-based company, however, it is not licensed by the UK's Financial Conduct Authority (FCA), since no such matching was found when we checked on FCA. So LotsFX is currently not regulated or not overseen by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker. 
  • 2022-03-23 BrokersView has found that LotsFX is not working

    BrokersView found the domain https://www.lotsfx.com is temporarily unavailable, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    BrokersView found the domain https://www.lotsfx.com is temporarily unavailable, as most probably it was suspended and it is always a bad sign when broker's website is suspended.
  • 2022-10-03 The UK FCA Added LotsFX into Its Warnings

    On 4 Oct 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that LotsFX was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/wwwlotsfxcom

    On 4 Oct 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that LotsFX was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/wwwlotsfxcom

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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