Do not be fooled by the broker’s claims to be Cyprus-based. Logically, it means CySEC regulation. However, there are many things about the LHK-Group broker that are not logical. Read our LHK-Group review and find out everything.
|Regulated by:||No regulation|
|Blacklisted as a Scam by:||CySEC|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Yes – BTC, ETH, XRM – total 7|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
LHK-Group Regulation and Security
As mentioned, the broker claims to be based in Cyprus. Also, according to the lhk-group.com website, there is an entity of the company in Mauritius. However, the broker has no CySEC regulation. Also, in the FSC of Mauritius, we couldn’t find a word about LHK-Group. It looks like the broker does not exist anywhere.
Moreover, there is no company owner listed in any LHK-Group terms and conditions.
Despite claiming to provide transparent trading terms, the basics are not so transparent, like who you are actually trading with and where your money is.
Warnings From Financial Regulators
Since the broker listed headquarters in Cyprus and does not have a CySEC regulation, we were not surprised to see that this particular regulator blacklisted LHK-Group. As per CySEC’s warning, this is not a regulated domain and provides unauthorized financial services. Everyone should be aware of it and report a scam immediately.
Withdrawal Issues With LHK-Group
Among many other complaints, the loudest are the ones related to withdrawal issues. As it seems, the broker does not let clients take their funds out. Actually, once you make your deposit with the company, your funds will likely disappear, and your account will be blocked. The support and the so-called account manager will stop answering your calls once they wipe out your entire bank account.
After we’ve checked the trading conditions – web trader, too high leverage 1:500, no information about withdrawal fees and commissions, we are genuinely not surprised. It looks like all LHK-Group Trade reviews were accurate.
This broker is not regulated, and you should be aware of it. Do not provide your card information over the phone, especially not your CVV number. And bear in mind, you have up to 540 days to submit a chargeback dispute in case you were scammed.
Scammed by LHK-Group?
If you were scammed by LHK-Group or any other broker, do not hesitate to report it. You can always file a dispute and request a chargeback. That way, you have the possibility to get your hard-earned money back.
But what is a chargeback? A chargeback is a way for you to get your money back to your credit card in case of a scam.
Contact our support via chat and explain your situation. Book the free consultations and get all the relevant information about the chargeback procedure!
What is LHK-Group?
LHK-Group is an unregulated online trading brokerage.
Is LHK-Group a scam?
Since the broker has no regulation for providing financial services and is blacklisted by CySEC, you can consider it a scam.
Is LHK-Group regulated?
LHK-Group is not a regulated trading brokerage.