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How do you rate LGM Markets? SCAM?
Janos Elbagouri
Italy
14 hours ago
ANSWER Dear Investor, LGM Markets is an unreliable platform due to lack of valid brokerage credentials. LGM Markets presents itself as the trading name of LGM Markets Global Forex LTD and claims regulatory status under the U.S. Money Services Business (MSB) registration with FinCEN license number 31000297356373. While this MSB registration does appear in the Financial Crimes Enforcement Network (FinCEN) database, it is critical to understand what this actually entails. An MSB registration with FinCEN is not a financial services license. In the United States, legitimate forex brokers must be registered with the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA). Our investigation confirms that LGM Markets is not listed in the NFA’s public register and holds no authorization from any reputable financial regulator overseeing retail forex trading. As a result, LGM Markets appears to be operating without proper regulatory oversight, which significantly increases the risk of fraud. We therefore strongly advise against engaging with LGM Markets in any capacity. To safeguard your investments, we recommend only working with brokers regulated by recognized authorities.
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