Locus Finance is a forex broker that has been accused of being a scam. The company does not have any legitimate licenses or regulations, and there are many reports of customers being unable to withdraw their funds.
Company Overview
Locus Finance claims to be a global forex broker that offers a variety of trading products and services. The company’s website is well-designed and professional, and it provides a lot of information about its trading platform and features. However, there are some red flags that suggest that Locus Finance may not be legitimate.
Team
The Locus Finance website does not list any information about the company’s management team or ownership structure. This is a red flag, as legitimate brokers should be transparent about who is running the company.
Services or Products
Locus Finance offers a variety of trading products, including forex, CFDs, and cryptocurrencies. The company also offers a demo trading account, which allows users to test the platform before they start trading with real money.
License and Regulations
Locus Finance does not have any legitimate licenses or regulations. The company is not registered with any financial regulatory authority, and it does not fall under any of the major forex trading regulations. This is a major red flag, as it means that Locus Finance is not subject to any oversight or scrutiny.
Why Dealing With An Unlicensed Broker Is Risky?
There are many risks associated with dealing with an unlicensed broker. These risks include:
- The possibility of losing your money. Unlicensed brokers are not subject to any regulations, which means that they can do whatever they want with your money.
- The difficulty of withdrawing your funds. Unlicensed brokers often make it difficult for customers to withdraw their funds. They may require you to meet certain trading volume requirements or charge high fees.
- The lack of customer protection. Unlicensed brokers are not subject to any customer protection laws, which means that you have no recourse if you lose your money or experience other problems.
Legal Warning Against Locus Finance
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Locus Finance. The FCA warns that Locus Finance is not authorized to provide financial services in the UK and that it is likely to be a scam.
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 many negative reviews about Locus Finance online. Customers have complained about the company’s refusal to allow them to withdraw their funds, as well as its poor customer service.
Feedback About Their Trading
Customers who have tried to trade with Locus Finance have reported that the platform is buggy and unreliable. They have also complained about the high spreads and commissions charged by the company.
Feedback About Their Customer Service
Customers who have contacted Locus Finance’s customer service have reported that they have been met with indifference or hostility. The company has been accused of ignoring customer complaints and refusing to provide refunds.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Locus Finance or another unlicensed broker, there are a few things you can do:
- File a complaint with the financial regulator in your country.
- Contact your bank or credit card company and ask them to dispute the charges.
- Hire a lawyer to help you get your money back.
Reviewsadvice can also help you if you have been scammed. We have a team of experts who can help you understand your legal options and navigate the recovery process. We also offer a free consultation service, so you can get started without any obligation.
Final Thought
Locus Finance is a scam broker that should be avoided. The company does not have any legitimate licenses or regulations, and there are many reports of customers being unable to withdraw their funds. If you are thinking about trading with Locus Finance, reconsider your decision. There are many legitimate brokers out there that offer much better trading conditions.
