LumiGain
On February 25 2025, the Federal Financial Supervisory Authority (BaFin) issued a warning against LumiGain, believing this company might be providing financial services or products without proper authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_02_17_LumiGain_en.html
On February 25 2025, the Federal Financial Supervisory Authority (BaFin) issued a warning against LumiGain, believing this company might be providing financial services or products without proper authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_02_17_LumiGain_en.htmlAccording to its website, it is located in the UK and Singapore. Upon investigation, no matching information was found in the Financial Conduct Authority (FCA) and Monetary Authority of Singapore (MAS). Although it mentions a certificate number on the website, after clicking it, we can find that the agency does not have the right to regulate foreign exchange. Apart from this, no valid regulatory information is provided, which is very untrustworthy.
In addition, the Federal Financial Supervisory Authority (BaFin) issued a warning against LumiGain, believing this company might be providing financial services or products without proper authorization.
In essence, LumiGain is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.
LumiGain appears to be a scam.
According to its website, it is located in the UK and Singapore. Upon investigation, no matching information was found in the Financial Conduct Authority (FCA) and Monetary Authority of Singapore (MAS). Although it mentions a certificate number on the website, after clicking it, we can find that the agency does not have the right to regulate foreign exchange. Apart from this, no valid regulatory information is provided, which is very untrustworthy. In addition, the Federal Financial Supervisory Authority (BaFin) issued a warning against LumiGain, believing this company might be providing financial services or products without proper authorization. In essence, LumiGain is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. LumiGain appears to be a scam.BrokersView found that the domain "https://lumigain.io/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
BrokersView found that the domain "https://lumigain.io/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
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