Locus Market Int Ltd is a relatively new brokerage firm in the market. The company has made a name for itself based on its promises of profitable returns, but there have been mixed reactions from customers. This article reviews Locus Market Int Ltd, based on their services and legitimacy.
Company Overview
| Broker Name | Locus Market Int Ltd |
| Website | https://locusmarketsintltd.com/En |
| Location | China |
| Regulation | Not Regulated |
| Warning | Multiple |
Team
Locus Market Int Ltd claims to have a team of experienced and knowledgeable traders who provide their clients with premier trading services. However, the website lacks any clear information on the management team or the employees.
Services and Products
The broker allows clients to trade in Forex, indices, and commodities. The company offers quick and convenient deposits and withdrawals through multiple payment methods, including wire transfers, credit/debit cards, and e-wallets. Locus Market Int Ltd is also known to provide its clients with several account types to choose from, including a demo account for beginner traders.
Trading Platform
Locusmarketsintltd gives access to Metatrader 5 distribution. The program is lauded for its robust automated trading capabilities, analytical brilliance, and clean, user-friendly design. Nevertheless, without an account, we could only access the platform’s following screen:
License and RegulationÂ
License Status
After thorough research, we found that Locus Market Int Ltd does not hold any licenses that authorize them to offer financial services, neither in the United Kingdom nor in any other regulated industry in the world.
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.
Regulation Status
Locus Market Int Ltd is neither regulated by the Financial Conduct Authority (FCA) nor registered with any regulatory organization. This lack of regulation means that the broker operates in a grey area without any oversight. Trading with such a broker can potentially expose your funds to risk.
Why Should Not You Trust An Unlicensed Broker?
Unlicensed brokers often engage in fraudulent activities such as manipulating clients’ trades, shady practices while withdrawing, and trapping clients with ridiculous bonus schemes that prevent investors from withdrawing funds. Unregulated brokers offer higher leverage than regulated firms. This increased leverage can result in higher risks to your principal investment since the higher leverage might magnify the losses if trades go wrong.
Legal Warnings Against Locus Market Int Ltd
Locus Market Int Ltd has earned itself a bad reputation as a potentially fraudulent broker. The Financial Conduct Authority (FCA) in the United Kingdom has issued a warning against the company, stating that they are operating without regulatory approval. The Financial Markets Authority (FMA) in New Zealand has also issued similar warnings about the firm.
Client Feedback About Locus Market Int Ltd
About Their Trading
Locus Market Int Ltd. has been known to impose unrealistically high spreads and commission fees that are not in line with the industry’s standard practices. Additionally, the broker has no negative balance protection. Also, there is a risk of personal information stealing.
About Their Customer Service
The broker’s customer service is unreliable and unprofessional. They do not provide clear answers to their client’s questions or resolve their issues promptly. Client experience and satisfaction are of little concern to Locus Market Int Ltd.
How Can Reviewsadvice Help You If You Get Scammed?
If you have already been scammed by Locus Market Int Ltd or any other fraudulent broker, we can help you recover part or all of your money. You will get a free consultation and service recommendations. That will help you in recovering the process.
Final Thought
Based on our research and review, Locus Market Int Ltd is an unregulated and unlicensed broker that exposes investors to numerous risks. It is crucial for traders to research carefully and scrutinize any financial firm before investing their hard-earned money. Always choose regulated brokers and brokers with a good reputation in the industry.
