LCM is a forex broker established on April 3, 2023, in Saint Lucia, primarily offering investors financial trading services in forex, stocks, commodities, indices and more, with its headquarters located in Istanbul. This broker does not provide services to jurisdictions where it may conflict with local laws or regulations, including but not limited to North Korea, the United States, Puerto Rico, Canada, Japan, Iran, Iraq, Lebanon, Turkey, etc.
Corporate Registration Information and Regulatory Status:
According to the official website, LCM is registered in Saint Lucia as LCM LTD, with the registered address at Fortgate Offshore Investment and Legal Services Ltd. Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia, and the registration number is 2023-00111. The office address is located at Maslak Mahallesi, Sümer Sokak, Ayazağa Ticaret Merkezi, No:3/14, Şişli, Sarıyer, İstanbul. The broker does not disclose any regulatory information on its official website.
Upon verification, an entity with the name LCM and registration number 2023-00111 can be found in the International Business Companies and International Trusts Registry (ifc) of Saint Lucia. However, this entity is not listed with the Financial Services Regulatory Authority (FSRA) of Saint Lucia, and no official financial regulatory authority in other jurisdictions has any records of this entity.
Information obtained from a Whois search indicates that the broker's website domain was registered on August 18, 2018. Moreover, as of January 24, 2024, the broker has been established for less than a year.
Opening an Account:
To open an account with LCM: Visit the broker's official website and click on "Open an Account" on the homepage or "Register" on the top right corner to enter the account registration interface. Complete the required personal information and submit. The broker will then send a verification code to the email address provided, which must be entered to login to the account. A full verification of personal information must be completed before depositing funds and engaging in trading activities.
Account Types:
LCM offers four different types of real trading accounts: Standard Account, Zero Account, Fixed Account, VIP Account.
Standard Account:
- Spreads: Starting from 1.2 pips
- Maximum trading leverage: 1:1000
- Minimum trade size: 0.01 lots
- Trading Commission: 0
- Overnight Interest: None
Zero Account:
- Spreads: Starting from 0 pips
- Maximum trading leverage: 1:1000
- Minimum trade size: 0.01 lots
- Trading Commission: $10 per lot
- Overnight Interest: None
Fixed Account:
- Spreads: Starting from 1.5 pips
- Maximum trading leverage: 1:1000
- Minimum trade size: 0.01 lots
- Trading Commission: 0
- Overnight Interest: None
VIP Account:
- Spreads: Starting from 0.6 pips
- Maximum trading leverage: 1:1000
- Minimum trade size: 0.01 lots
- Trading Commission: 0
- Overnight Interest: None
Trading Platform:
LCM offers the MT5 trading platform to its users, with servers provided by LCM LTD. The broker only allows connection to existing trading accounts on the MT5 platform and does not support the creation of new demo or real trading accounts.
Deposits and Withdrawals:
LCM LTD does not explicitly disclose on its official website the supported methods of deposit and withdrawal, fees, or the minimum amounts required.
Conclusion:
Traderknows reminds investors that LCM LTD is a forex broker without effective regulation. Traderknows advises investors to prefer brokers who are transparent, strongly regulated, and have a good reputation for investment trading activities, to avoid unnecessary loss of assets.
Currently, this broker is marked as 'suspected of fraud' on Traderknows.
