LMFX regulated or not?

https://www.lmfx.com/     

LMFX is an unlicensed broker despite claiming to be a reliable one and offering seemingly attractive deals.

LMFX claims to be registered in Saint Vincent and the Grenadines with registration number 7020600. However, our search for this broker in the Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA) did not yield any results. This is a red flag, suggesting that this broker is not under regulation to provide financial services or products.

Regarding your question, LMFX is not a regulated broker. Letting this broker hold and control your funds or trading with them is very risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest investors avoid unlicensed brokers like LMFX and choose fully regulated ones instead.