LTD FX Review: Be Careful With LTD-FX.Com

LTD FX is a company operated by BestProducts LTD, UK. Very interesting, since BestProducts LTD has been dissolved in 2020. Some other inquiries show that there are currently no companies named LTD FX or BestProducts LTD registered in the UK at all.

Any company that wishes to conduct broking business must be licensed under their local financial authority. Not only does LTD FX have no licenses, it has been blacklisted as a fraudulent entity by the Italian authority. You can find the publication here: https://www.consob.it/web/consob-and-its-activities/warnings?viewId=ultime_com_tutela

When we first access LTD FX’s website, we see a flashy presentation with lots of claims on great trading deals… But if you look at it a bit closer, you will find many disconcerting things, for instance their main phone number is +123 456 7890.

While none of these are condemning evidence of a fraud by themselves, the sheer volume of alarming data is sure to raise a red flag or two. We urge our readers to look carefully at this LTD FX Review, so that they can recognize a fraudster more easily in the future.

LTD FX Compliance and Safety

Since the company is allegedly founded in the UK, it falls under jurisdiction of FCA. This regulatory body monitors more than 50.000 different companies for predatory business practice. In the UK, in order for a broker to claim legitimacy, they must acquire a license that requires these conditions to be met:

• £730 000 or more in starting capital
• Leverage restriction of 1:30
• Fund protection via segregated bank accounts
• Negative balance protection
• Compensation fund
• Transactions must be transparent
• Bonuses are forbidden

These strict rules of conduct that FCA imposes make it one of the most rigorous regulatory entities in the world. In the industry, this is what we call a Tier 1 license.

Details of how different trading accounts work on LTD FX directly contradict many of the FCA’s conditions. And let’s not ignore the big elephant in the room, the fact that LTD FX has been blacklisted in Italy.

There’s shady, and then there’s LTD FX. Don’t be swayed by these people’s promises of a better future, they are con artists out to take your hard earned cash. Even if the information they posted on their website was true, it would still be illegal to trade under those conditions!

The fact that they got to a blacklist of a top tier regulator like CONSOB should be a solid proof of their illegitimacy and reason enough never to trust them.

Trading Platform at LTD FX

The only platforms that they do offer are Web Trader and a proprietary Ltd-FX platform. Here’s the catch: by only showing users data in a web browser or a custom-built program, they can easily manipulate all the charts and numbers.

Poor quality of the software LTD FX is offering is evident as soon as we log in to the platform. A simplistic chart of our trading history is drawn, even though we made no trades on the site whatsoever. Even if the software were to be functional, it lacks most of the data an investor needs.

In this manner, a victim of the fraud will continue to update their account, as they will believe they are doing actual business. If the scammer needs more money, they make the trade unprofitable so the user deposits more funds. If they want their clients to withdraw, they do the opposite and make the trader pay exorbitant withdrawal fees.

LTD FX Trading Instruments

There aren’t many trading instruments at LTD FX. Well, there aren’t any to be honest, none of it is real, it’s all a scam. To fake legitimacy, however, this scam broker is pretending to offer some instruments with spreads of 0 to 0.5, and leverage from 1:200 to 1:500.

These are some of the instruments offered:

• Forex (EUR/USD, USD/CAD, CHF/EUR, USD/JPY, CHF/EUR, EUR/GBP)
• CDFs on Commodities (Gold, Crude Oil, Natural Gas)
• CFDs on Stocks (Apple, Tesla, Amazon, Microsoft)
• CFDs on Indices (S&P500, CAC40,Nasdaq100, Dow Jones)
• Crypto (BitCoin, BitCoinCash, Ethereum, LiteCoin)

It is very difficult to understand exactly what you are supposed to trade. Most instruments are wrongly named or categorized. It seems as if the people who made the site knew very little about online trade.

Deposit and Withdrawal Method

Unfortunately, we were unable to test this since the web page that handles funding is non-functional. There aren’t any funding methods mentioned on the main website either. Something else has drawn our attention, though.

The rules these fraudsters have made for withdrawing and depositing are complicated to a comical level. Rows after rows of special conditions, contract terms, working hours, transfer times, and so on are purposely written to confuse any investors. The purpose of this is to make all transactions as complicated as possible.

In order to withdraw money, the victim must print a physical copy of a withdrawal request and sign and stamp it. This must be sent by mail to one of LTD FX’s offices for approval by a “financial manager”. After a transaction has been approved, this “manager” would, in theory, send an approval document to the victim who may use it to withdraw money… Quite simple, don’t you think?

How is the Fraud Delivered?

This is how it all works: an honest investor would be drawn in by alleged good trading conditions. They would make a deposit which is rather large, ranging from €250 to as much as €25.000.

On their trading site, the con artist will manipulate numbers to draw as much money as possible from their new victim. Fraudsters can adjust the trading charts so that the victim is manipulated into depositing even more funds, or to suggest it is time for a withdrawal.

The trap is now shut. Once the victim attempts to withdraw some money, they would be met with an overly complicated procedure with insanely high fees. The swindler will just mention some weird clause from the confusing terms & conditions to avoid any liability.

The risk that the potential victims take is not only financial, however. Some of these fraud brokers are also known to misuse their victims personal data, and commit identity theft. Always double-check any business partner before investing! More than just your money is at stake!

LTD FX Summary

LTD FX is a front for a fraudulent group of people. Our staff has done research that reveals some of the methods these frauds use to extort money from their victims.

We hope that after reading this LTD FX review, you’ll more easily understand the dangers some of these shady businesses pose.

The shiny website, outworldly claims of tight spreads and low leverage and deceitful bragging about non-existing awards are all a spider’s web of lies. Once you scratch the colorful surface, you’ll discover just how rotten the whole thing is.

Not all firms are like this. There are reliable and efficient brokers who will make your trading adventure easy, and even fun. Most of the industry leaders we have mentioned are renowned for high quality service, excellent education and fast market execution. Visit some of the sites we mentioned, and give them a try.

FAQs About LTD FX Broker