LOE (www.loemarkets.com) is a CFD broker that registered its official domain name on July 23, 2024, and specializes in providing trading services for financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies. The platform primarily caters to retail and institutional clients, offering online trading services for various financial products and does not provide services to regions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status
The content disclosed on loemarkets.com claims it is one of the top 50 financial service companies in the UK, using "LOE" as its brand name. The company address is listed at 286 Euston Rd., London. However, the full company name, business registration number, and corresponding regulatory license number are not published on the official website. Additionally, detailed terms of service or other relevant legal documents are not visible on the website.
Upon verification, a company named "LOE LTD" similar to the broker's name was found on the UK Companies House website. This company is not regulated by the UK's Financial Conduct Authority (FCA), and since loemarkets.com does not disclose the full company name, business registration number, etc., it is unclear whether they are related.
There is also no regulatory information found for a company named "LOE" on the FCA website.
Additionally, the website design and content of LOE (www.loemarkets.com) closely resemble those of several known scam broker websites, such as Eccxn, FORE XF, and nutexx.com, which use the same template design.
Trading Products and Services
loemarkets.com offers trading in a variety of financial derivatives, including but not limited to:
- Forex Trading: The platform provides trading services for various major forex currency pairs such as EUR/USD, USD/CAD, GBP/USD, and USD/JPY.
- Precious Metals Trading: Offers spot trading of precious metals including gold (XAUUSD) and silver (XAGUSD).
- Crude Oil Trading: Provides trading services for US crude oil (UsOIL).
- Index Trading: Tradable indices include the Nikkei 225 (N225), German DAX (GER30), and S&P 500 (US500).
- Cryptocurrency Trading: Offers trading for multiple cryptocurrency pairs such as Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), etc.
Account Opening Process
To open a trading account on loemarkets.com, follow these steps:
- Visit the official website and click the "Register" button at the top right corner to access the registration page.
- Enter your email address and set a login password. Submit the account application form to complete the account registration.
- Upon successful registration, users must complete the KYC verification to be able to deposit funds and conduct trading operations.
Trading Account Information
loemarkets.com only discloses partial account information on its website, such as spreads, trading leverage, and contract sizes. However, essential trading information like account types, trading commissions, minimum/maximum trade volume, maximum position/order size, margin call/stop-out levels, and minimum price accuracy are not clearly listed.
- Base Currency: USD
- Spreads: Floating spreads, minimum of 1 pip
- Trading Leverage: 1:100
- Contract Size: 1 lot = 100,000 currency units
Trading Platform
loemarkets.com claims to offer a trading platform named ST5, supporting both desktop and mobile operations. They assert that this platform includes over 50 technical indicators and intraday analysis tools suited for advanced traders. However, the ST5 platform’s design and features are quite simplistic and are mainly used by scam brokers.
Deposits and Withdrawals
loemarkets.com does not clearly list the supported deposit and withdrawal methods, related fees, or minimum deposit/withdrawal amounts on its website.
Conclusion and Recommendations
Traderknows reminds investors that LOE (www.loemarkets.com) is a scam broker website that lacks an actual company entity and is not regulated by any authority. The platform’s transparency is very low, and its contact option is limited to email, with no other reliable communication channels. Therefore, investors are advised to choose brokers with transparent information, regulation by authoritative bodies, and a good reputation to avoid potential financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
