Lunboux is a forex broker that has been accused of being a scam. The company claims to be regulated by the Financial Conduct Authority (FCA) in the UK, but this is not true. Lunboux is not a licensed broker and is therefore not subject to the FCA’s regulations.
Company Overview
Lunboux claims to have been founded in 2010 and to have a team of experienced traders and financial professionals. However, there is no evidence to support these claims. The company’s website is poorly designed and contains grammatical errors.
Team
Lunboux does not disclose the names of its management team or any of its employees. This is a red flag, as legitimate brokers are transparent about their team members.
Services or Products
Lunboux offers a variety of forex trading services, including a trading platform, educational resources, and customer support. However, the company’s trading platform is not very user-friendly and the educational resources are limited.
License and Regulations
Lunboux claims to be regulated by the FCA in the UK. However, the FCA does not regulate Lunboux. The company is also not regulated by any other financial regulator.
License Status
Lunboux is not licensed by any financial regulator. This means that the company is not subject to any regulatory oversight. This makes it more likely that Lunboux will engage in fraudulent or unethical practices.
Regulation Status
Lunboux is not regulated by any financial regulator. This means that the company is not subject to any regulatory oversight. This makes it more likely that Lunboux will engage in fraudulent or unethical practices.
Why Dealing With An Unlicensed Broker Is Risky?
There are several reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to any regulatory oversight. This means that they are not required to follow the same rules and regulations as licensed brokers. This makes it more likely that unlicensed brokers will engage in fraudulent or unethical practices.
Second, unlicensed brokers are not required to keep client funds in segregated accounts. This means that your money is not protected if the broker goes bankrupt or disappears.
Third, unlicensed brokers are not required to provide dispute resolution mechanisms. This means that if you have a problem with your account, you may have difficulty getting your money back.
Legal Warning Against Lunboux
The Australian Cyber Security Centre (ACSC) has issued a warning against Lunboux. The ACSC has warned that Lunboux is a scam and that investors should avoid it.
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.
Client Feedback
There are several complaints about Lunboux online. These complaints allege that Lunboux is a scam and that the company has refused to allow withdrawals.
Feedback About Their Trading
Some clients have complained that Lunboux’s trading platform is difficult to use and that the spreads are too high.
Feedback About Their Customer Service
Lunboux’s customer service has been criticized for being slow and unresponsive. Some clients have reported that they have been unable to get in touch with Lunboux’s customer service at all.
How Can “Reviewsadvice” Help You If You Get Scammed?
If you have been scammed by Lunboux or any other forex broker, there are a few things you can do. First, you should contact your bank and report the fraud. You should also file a complaint with the Financial Ombudsman Service (FOS) in the UK.
Reviewsadvice can also help you get your money back. We have a team of experts who can help you investigate the scam and recover your funds. We also offer a variety of resources to help you protect yourself from forex scams in the future.
Final Thought
Lunboux is a scam broker that should be avoided. If you are considering trading with Lunboux, we advise you to reconsider. There are many legitimate forex brokers out there that you can trade with. There is no need to risk your money with a scam broker like Lunboux.
