LS Markets is not a regulated or licensed broker for traders even though it states offers that look good to be true.
LS Markets claims to be the brand name of LS MARKETS PTY LTD, a company registered in the British Virgin Islands and regulated by the Australian Securities & Investment Commission (ASIC) and National Futures Association (NFA).
But first, we found the company's registration status in ASIC is disregistered. Second, we indeed found a matching result in NFA's registry, however, LS Markets is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, LS Markets doesn't satisfy these conditions.
The truth is, LS Markets is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like LS Markets and trade with licensed brokers.
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