Leadtradesfx Review: Details Regarding This Scam Broker

The reason why the Leadtradesfx website looks so convincing at first glance is that what we actually have here is a clone website.

It has been designed with the sole purpose to steal your money, which on top of that has already been exposed by the financial authorities in the UK. They also have failed to put many basic things on their website, such as the minimum deposit and account types.

With this said, let’s dive into this Leadtradesfx broker review to see all the tricks this copycat uses to deceive you into thinking they are the real deal.

Regulation and Fund Security at Leadtradesfx

Leadtradesfx broker is unregulated and most likely totally illegal, which ultimately

means that your funds will be in danger if you deposit. As there is no regulation, the people running the platform can pocket your money while bearing no responsibility for their criminal actions. They can disappear at any time without notice.

In the case of the Leadtradesfx investment scam, they are copying the regulated and legit company named Admiral Markets UK Ltd. Not only have they copied the look of their website but they also copied the license number.

Luckily, the Financial Conduct Authority (FCA) has caught up on it and issued an official warning against Leadtradesfx.

Trading Software Available at Leadtradesfx

On the LeadtradeSfx homepage, we see claims that clients can use the two most popular trading platforms in the industry, MT4, and MT5.

But these claims are part of the content copied from the legitimate broker’s website. LeadtradeSfx does not provide links to download the software and does not provide login credentials to its own trading server.

The LeadtradeSfx dashboard lacks any trading functionality. This is clearly a scam aimed at people with no experience in financial markets who do not know what to expect from a real broker.

Leadtradesfx Account Types Offered

Unfortunately, this broker has not shared the account types that they have. This is a big lapse as this information forms the basis of deciding whether to join or not.

This broker has just provided a demo account that anyone can open and learn how to trade.

Failure to disclose many details like minimum investment amount, spreads, and leverage among others makes us question the transparency of this broker. Transparency is very important when it comes to the investing world, since at the end of the day, you are giving your money to a certain company.

Deposit and Withdrawal Methods

Again, it came as no surprise that Leadtradesfx is only offering deposit methods via cryptocurrencies. This is a preferable funding method by many scam brokers, since once you deposit your money you will not be able to ask for a refund.

In case you have made a deposit in a more traditional way on the other hand, like with your credit or debit card for example, and suddenly you realize that something is wrong, you will still have the option to recover your stolen funds.

All you need to do is to file for a chargeback at the bank that has issued your VISA or Mastercard, which is certainly reassuring especially since you will have that option for the entire 540 days after your payment has been processed.

How the Fraud has Carried Out

You’ve probably heard of this type of scam as they are quite common as of lately.

It all starts with various internet ads promising you to get the rich fast fairytale. After people get interested and read a couple more or less believable stories of others getting rich just by trading through their platform, individuals get tempted and decide to make an account.

After that, comes multiple e-mails and calls from various agents telling you how you should invest your money, and of course- the more you invest the more you’ll get. Although we don’t know their minimum deposit, we are sure an agent contacting you will tell you to invest as much as you probably can and continue to be very persuasive until you say yes and give your credit card information. Be sure that once they get your money, they will disappear.

Leadtradesfx Summary

In this Leadtradesfx review, we gave you a better insight into how this illicit broker operates. Not only are they unregulated and unlicensed but they falsely claim to be. They also claim to offer their customers an opportunity to invest in forex, CFD, and stocks. However, something as basic as their website is currently inaccessible, indicating that you are dealing with a scam.

Lastly, a UK regulatory body FCA issued a warning against them for being a clone website of a regulated broker named Admiral Markets UK Ltd.

FAQs About Leadtradesfx Broker