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LTMarkets Review - is it scam or safe?

LTMarkets Review - is lt-markets.com scam or good forex broker?

RATING: 2.7 / 0 REVIEWS
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Trading Accounts and Conditions

 

Account type Min. deposit Min. trade siz Max. Leverage Spreads
Standard $1 000 0.01 1:300 From 1.7 pips
VIP $5 000 0.01 1:300 0.4 pips + $7/lot


LTMarkets is a Cypriot forex and CFD broker that offers the above account types. Both of them provide leverage up to 1:300, micro tradeable lots and variable spreads. There are also free demo accounts, but this broker does not offer swap-free services.

 

 

LTMarkets Advanatges

 

Regulated in Cyprus, probably part of AusForex

The main advantage of this broker is the fact that it holds a CIF license by the Cyprus Securities and Exchange Commission. The company behind the brand, LTTrader Limited, has been authorized by CySEC at the end of 2017.

 

 

Judging by the other approved domains of the company, it appears that LTMarkets is a part of the AusForex family, which has been in the forex business since 2003. Its Australian branch, AUSCAPITAL PTY LTD, is registered with the Australian Securities & Investments Commission. It also has a UK subsidiary, AUS CAPITAL (UK) Ltd. (doing business as AusForex), which, however, is no longer registered with the Financial Conduct Authority as an Authorised Representative. Probably that’s why the company decided to get a CySEC license and to continue to work on the European Markets.

 

Claims to offer negative balance protection

The best possible way to secure trade safely is to choose a well-regulated broker who provides negative balance protection. According to the information on their website, LTMarkets offer such, which means that their clients cannot lose more than they have deposited.

 

MT4 and MT5 supported

When it comes to software for forex trading, LTMarkets offers both MetaQuotes’ platforms, which are some of the most highly praised platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms offer great charting package, fast speed of execution and the convenient programming environment. The latter allows users to trade with custom indicators and automated trading systems (a.k.a. Expert Advisors).

 


>> More MT4 brokers <<

 

 

High leverage levels

The default leverage for all LTMarkets accounts is 1:50, however the maximum ratios reach 1:300. Such leverage levels are comparatively high and many traders appreciate that. Leverage is something like a short-term loan that allows them to increase their buying power, but it also increases the risk of losses.

 

Various financial instruments

Another thing we like about this broker is its rich and diversified product portfolio. LTMarkets offers trading in a number of currency pairs and various CFDs – on indices, commodities, stocks, as well as digital assets such as Bitcoin. The latter have gained massive popularity lately and a number of brokers have jumped the cryptocurrency wagon.

 

 

>> More regulated forex brokers offering Bitcoin CFDs <<

 

 

LTMarkets Disadvantages

 

High spreads on Standard accounts

One of the most important trading conditions of forex brokers is, of course, the cost of trading. In the case of LTMarkets, however, these costs are above the average in the sector, as the typical spread on the EUR/USD pair is around 1.9 pips. Most brokers offer spread in the range of 1.0 – 1.5 pips for this pair. For example, average trading costs per lot for clients of XM amount to around 0.8 pips on EUR/USD on Zero account types.

 

 

LTMarkets’ demo web MT4. Click to zoom.

 

$1000 required for account opening

Traders are able to open a live account with LTMarkets $1000, which is a high minimum initial deposit. Most brokers require around $200 as a start, and some none at all. 

 

Limited payment options

It seems that the only payment method used by LTMarkets is bank wire transfer. Popular e-wallet payment systems, such as PayPal, Skrill & Neteller are not supported by this broker.

 

Conclusion

 

It looks like LTMarkets is a new Cypriot brand of AusForex. The broker offers an array of financial instruments for trade (crypto CFDs included) on two trading platforms, but what we like best aboit it is the CySEC license. Otherwise, both the minimum investment required and the spreads offered by LTMarkets are quite high.

 

Cypriot forex brokers are considered reliable, as CySEC applies a set of requirements to them and sees to their compliance. Brokers regulated by CySEC must keep clients’ money separately from their company funds, to report the trades, to meet certain capital adequacy level, and more. As a further guarantee to clients’ funds, all Cypriot Investment Firms are covered by compensation schemes as additional guarantee to clients’ funds. 

 

 

>> Other brokers regulated in Cyprus <<

 

 

To sum up the positive and negative sides of LTMarkets:

 

Pros Cons
CySEC license Wide spreads
Both MT4 and MT5 available High initial deposit required
Many financial instruments offered Limited payment methods
High leverage levels offered  

 

Latest news about LTMarkets
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Traders` reviews for LTMarkets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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