LTC Markets (Ltc-markets.com) is a FRAUDULENT Crypto Currency and Forex broker out to defraud investors. LTCMarkets is a harsh broker who steals from new consumers on purpose. Investors are signing up for this broker without a second thought. Members are outraged after depositing cash with this broker and encountering a nasty service provider. For more information, read this comprehensive LTC MARKETS Review.
Company Overview
They claim to have created a platform that communicates with casual investors on their About Us page. We don’t believe it with a contact address claiming to be in Switzerland. Scammers will do or say everything to make their items look legitimate. This is what distinguishes it as a poor broker. When they offer bogus EU contact information, they are attempting to attract European investors. These con artists have attempted to validate their contact claims by using virtual phone numbers.
Broker Name | LTC Markets |
Website | Https://ltc-markets.co |
Regulation | Not regulated |
Warnings | Multiple |
Team
This broker’s level of anonymity is a major issue. Who are the platform’s original members? Where can we get the names of those that manage this website? Why haven’t they provided members with the identities of this broker’s CEO and CFO? Again, these are red flags that we are dealing with a sophisticated fraud operation. One reason they don’t respond is that they don’t want to face the wrath of authorities. They are terrified of the backlash they may face from victims.
Services or Products
They mentioned on their website that they provide cryptocurrency trading and investment platform through various cryptocurrency assets.
Trading Platforms
They did not disclose any information about their trading platform. However, they have several account options. The minimum deposit value for each account is very high.
Account type | Min. deposit | Max. leverage | Spreads |
Bitcoin Beginner | $250 | n/a | n/a |
Bitcoin-Ethereum Intermediate | $10 000 | n/a | n/a |
Bitcoin-Ethereum-Litecoin Pro | $50 000 | n/a | n/a |
License and Regulations
License Status
LTC-Markets has a contact address in Zurich, Switzerland, however, the firm that owns and operates the website – Wilkinson Europe LTD – is reported to be situated in the United Kingdom. And, because all companies offering financial services from British soil must be licensed and authorized by the local Financial Conduct Authority (FCA), we decided to search the regulator’s registers for LTC-Markets and the company that operates them.
Unfortunately, neither the broker nor Wilkinson Europe LTD could be found, implying that LTC-Markets is illegally targeting European and UK customers.
Regulation Status
We tried to find their regulatory status from different regulatory websites. But, we did not find any other information. It is clear that they are not regulated or licensed.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Dealing With Unlicensed Brokers Is Risky?
Dealing with unlicensed brokers is risky for several reasons. Such brokers are not subject to regulatory oversight, so they do not have to adhere to rigorous compliance standards, which can expose traders to fraudulent practices. Also, unlicensed brokers do not provide safety mechanisms such as client fund segregation and negative balance protection, leaving traders vulnerable to losses.
Legal Warnings Against LTC Markets
We have not found any legal warnings till now. But, different regulatory sites have warned their people against this company.Â
Client Feedback About LTC Markets
About Trading
Because LTC-Markets does not provide a demo account, we are unable to comment on their spreads. If you haven’t traded your investment at least 200 times, LTC-Markets will charge you a 10% withdrawal fee. No legitimate broker will ever charge you in this manner. Check it out for yourself:
About Customer Service
Another annoying aspect of LTC Markets is its sluggish and occasionally inattentive support personnel. When members submit emails about depositing funds, they receive prompt and courteous responses. Withdrawal emails are never responded to, and accounts are sometimes closed.
How Can FXfarmupdate Help You If You Get Scammed?
If you get scammed by LTC Markets, you should submit a report to us. We will provide you with a free consultation and service recommendations to help you in recovering the lost funds.
Final Thought
After evaluating the operations of LTC Markets, we can conclude that the broker exhibits several red flags that are synonymous with fraudulent brokers. The broker is not regulated by reputable agencies, they have a history of fraudulent practices, and there are several complaints about their operations. Trading with LTC Markets could be risky for investors. Therefore, we advise traders to look for regulated brokers that have a proven track record in the industry.
