LloydFX brokerage is suspected to be an online trading fraud. There are many unclear things related to the company, which led us to believe that something is not as it should be.
Read our Lloyd FX review and check for yourself why the company has a lousy reputation only a couple of months after establishing.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||No Info|
|Owned by:||LLOYD GEORGE TRUSTWORTHY SERVICES LIMITED|
|Supported Platforms:||Web trader|
|Types of Assets:||FX, commodities, indices, shares, options|
|Free Demo Account:||No|
|Accepts US clients:||No|
LloydFX Regulations and Security
For a start, LloydFX claims to be owned by LLOYD GEORGE TRUSTWORTHY SERVICES LIMITED. Once we searched for this company in the UK company’s register, we found that it does exist, but it’s an accounting office. The company was established in 2010 and has been active ever since. It led us to believe it has nothing to do with the LloydFX trading platform and its frauds. Also, there’s no regulation with the FCA, which is a must for every UK-based online trading broker. Therefore, we’re certain Lloyd FX is a scamming broker you should avoid.
Fund Withdrawal Issues
As’s the case with many unregulated brokers, LloydFX doesn’t let clients withdraw their money either. Everything sounds marvelous at the start, the company is based in the UK, which sounds legit and reputable. According to LloydFX reviews, some employees are even convincing inexperienced clients that the broker is FCA regulated. Once you invest your funds, you might even make some profit so that you start trusting your account manager.
Problems come once you want to withdraw your money. You’re being ignored, an account manager is suddenly unavailable, and you might even see that your trading account is blocked.
Beware of Lloyd FX scam and report any inconveniences immediately.
Traders About LloydFX Scam
As per Trustpilot and similar websites for reviews, LloydFX is rated as poor. Clients are highly unsatisfied with the service, and most of them filed a complaint. Here’s just one of the examples:
It seems I already wrote a review, and then it won’t come up, so I guess I should write it again. It seems I have been unable to withdraw my money from my account and close my account. I was told that in order to withdraw the total of my account I would have to deposit the exact amount into my wallet.
This does not make sense to me, and I refuse to send any more money to any account they set up for me. It is nearly three weeks since I requested to close my trading account with them and I still haven’t received any replies to my emails or any money.
Don’t invest any money with these guys unless you check them out thoroughly.Trading Scam Victim
How Does Online Trading Scam Work?
If you ever saw an ad for online trading, you must have noticed that most of them are overpromising. And on one side, you can say it’s just marketing, and you should know better. However, once you sign up for such an ad, the broker’s employees will continue with false information. For example, if you’re involved with LloydFX, their employees will try to convince you that you’re dealing with a UK-regulated brokerage, and you can withdraw your funds anytime. An account manager will persuade you to invest more and more until you have nothing left. At that moment, you will become a non-valuable asset for the company, and your account will be suspended.
If you experience something similar, contact us immediately.
Scammed by LloydFX?
If you have been scammed by LloydFX or a similar bogus broker, let us know immediately. We need to file a dispute and request a chargeback before it’s too late.
But what is a chargeback?
A chargeback is a way for your bank to reverse the transaction if you have been a victim of a scam. To get your dispute resolved successfully, you need to provide sufficient evidence. That’s why it’s best to have assistance from professionals. Leave your details on our online chat and book yourself a free consultation. Let’s get your money back now!
What is LloydFX?
LloydFX is an online trading brokerage from the UK without an FCA license.
Is LloydFX a scam?
Broker operates without the FCA regulation and has been accused of fraud.
Is LloydFX regulated?
No, LloydFX doesn’t have any kind of financial regulation for providing financial services.