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LVMexchange Review - is it scam or safe?

LVMexchange review - Is lvmexchange.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz LVMexchange
LVMexchange is an offshore broker. Your money is not safe.

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LVMexchange is an offshore forex and CFD broker, which in addition to its standard trading account also offers managed accounts. And although at first glance their trading conditions might look attractive – tight spreads, no trading commission, leverage as high as 1:200 and the MetaTrader4 platform – you should bear in mind that this is a unregulated broker, so if you consider depositing your money with them better read the following review.

 

Account type Min. deposit Max. leverage Spreads/ Payout
Trading Account $50

1:200

0,6 pips, floating
General Account $5000 n/a n/a
Professional Account $50 000 n/a n/a

 

LVMexchange Advantages:

 

Fine selection of forex pairs

 

We always start our reviews with anything positive that comes to mind about the broker we investigate, and here with LVMexchange we may start with their selection of trading instruments – 35 currency pairs, some of which minor or exotic like USDZAR, USDTRY, USDRUB and USDHKD, as well as a number of CFDs on oil, silver, gold and 13 major indices. However, as we see no crypto coins in the list, here you may check as well our link with brokers trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Tight spreads

 

When we tested the LVMexchange trading platform with a demo account the bench mark EURUSD spread floated around 0,5 pips – 0,6 pips, an that combined with the fact that no trading commission was taken, makes things look pretty attractive. Still, as we already noted, LVMexchange is a unregulated broker, and because the safety of your funds always comes first, here we may also suggest that you check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 supported

 

This is another piece of good news. MetaTrader4 is by far the most popular trading platform on the market, featuring well over 50 customizable market indicators and trading robots, with the help of which you can easily run automated trading sessions. And besides, as MT4 also comes with an advanced set of charting tools, here you may check as well our list of brokers, offering the platform as well:

 

>>MT4 Brokers<<

 

Otherwise we should note that in this case the trading platform is provided by a  LVMarketsLtd., which is not the same company as the one that operates the broker.

 

Acceptable minimum deposit requirement

 

At LVMexchange you can start trading with just 50 USD and that is in line with the best practices on the market. Still, bear in mind that with some big and popular brokers like FBS and IG you will be able to open a trading account with just 5 USD or so.

 

LVMexchange Disadvantages:

 

No license

 

LVMexchange is owned and operated by LVM Ltd., a company based offshore on St Vincent and the Grenadines. And as we already noted, they are not regulated, as they should be if they want to target customers on regulated markets like the European Union, including the UK, for example.

 

Actually in their presentation LVMexchange says to be regulated on the small Pacific atoll of Vanuatu, but that turned out not to be true (not that a Vanuatu license makes any difference).

 

As usual in such cases our best advise is to deal only with properly regulated brokers, like the ones licensed and authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC). 

 

And besides, because a FCA license comes with the additional protection of a client compensation fund, covering the first 85 000 GBP in your trading account even in the unlikely case your broker files for bankruptcy, here you may check as well our list of brokers, regulated in the UK:

 

>>FCA Regulated Forex Brokers<< 

 

Managed accounts

 

LVMexchange offers managed accounts and this is not something we like. As most other brokers, legit ones including, LVMexchange is a market maker and that means it makes money, whenever traders lose. So if a market maker offers to manage you account it will be in a conflict of interest, as it surely will have an incentive to mismanage your trades and lose your money in its own pockets.

 

On top of that the managed accounts LVMexchange is offering come with some rather unusual terms, conditions and fees, as for example the condition that you will not be able to withdraw your funds, if the sum has fallen below 5000 EUR. See for yourself:

 

 

Also, you will have to agree that you will not be able to withdraw your own money for a period of at least 12 months and this is not something a legit broker will ever say.

 

Finally you should take into account the 25%  performance fee, which by the way the broker reserves the right to change on their sole discretion. See for yourself:

 

 

No information about the payment methods

 

Apart from bank wire transfers, we are not told what other payment methods do LVMexchange accept. Bear in mind that most brokers accept credit and debit cards like VISA and MasterCard, and popular e-wallets like Neteller and Skrill. Here for example you may check our list of brokers, accepting payments with Skrill:

 

>>Brokers accepting Skrill<<

 

Conclusion:

 

LVMexchange is a low credibility, unregulated, offshore broker, which we strongly advice you to avoid. On top of that they are offering managed accounts, while acting as market makers, which is a clear sign that they are involved in scam. Once again be sure to trade only with brokers regulated by reliable institutions like the FCA in the UK, CySEC in Cyprus or ASIC in Australia.

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Traders` reviews for LVMexchange

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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Summary

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