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lebway

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Is https://www.lebwayz.com/en/index.htm a scam? I can't withdraw my money!
Yan
South Korea
2022-04-13
ANSWER Lebway is not a regulated broker and should be avoided at all events. We found that this broker's website is not available right now, as most probably it has been suspended, which is always a bad sign.  Prior to this, we have reviewed that Lebway is a scam that falsely claims to be a regulated broker by the Australian Securities & Investments Commission (ASIC), Dubai DMCC and the Mauritius Financial Services Commission (FSC). You may check our full Lebway review here. We strongly recommend traders stay alert when dealing with unlicensed brokers as these brokers don't abide by laws and principles of operating. This means that once suffering scams during the transactions with unregulated brokers, investors are at high risks of losing money. Because unregulated brokers will not be punished by financial regulators. In other words, investors' complaints about unregulated brokers will seldom be accepted by regulators. As for your situation, we advise you to report this scam to your local authorities or the police, and try to get help from them.
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Please let me know if Lebway is regulated and if my money will be protected by the law in case of corporate insolvency. Thanks.
Lewis
Lithuania
2021-11-06
ANSWER Lebway is an UNREGULATED forex broker claiming to be a Forex, commodity and cryptocurrency broker operated by LEBWAY WEALTH LTD, and according to its website Lebway has applied for the relevant compliance licenses and permits issued by the Australian Securities & Investments Commission (ASIC) and Dubai DMCC. However, none of the mentioned licenses have been received by the broker and DMCC is merely a free zone for trading rather than a financial regulator that approves licenses for brokers to provide financial services. This broker also claims that they have acquired Ausinvest Mauritus ltd which is regulated by the Mauritius Financial Services Commission (FSC). However, the alleged acquired company is not under valid regulation as there is no such match in the FSC's register. As per the evidences above, our final conclusion is that Lebway is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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