Lockwood Investments Review
Reason to avoid: Offshore license
Listed Date: January 26, 2019
Top 3 Regulated Forex Brokers
Beware Lockwood Investments is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: SolutionsCM LTD
- Registration/license: St. Vincent & The Grenadines
- Registration/license requirement: USD 2,000
Lockwood Investments is an offshore broker that offers Forex and CFDs trade. The company is owned and operated by SolutionsCM LTD that claims to be located in Sofia, Bulgaria. However, it is not authorized to provide financial services by its local Financial Supervision Commission. Also, the website states that the main office of the company is located in the St. Vincent & The Grenadines. As we already know it is one of the popular offshore destinations for unlicensed forex brokers, so we keep on reminding our readers to stay away from such entites.
Another thing is the reputation of the SolutionsCM LTD. The company was banned multiple times by different authorities and each time it was a different broker. We have reviewed some of them as well: CarterFS, OriginalCrypto, Britonprice and Easy Line Pro. Moreover, Spain’s regulator CNMV has recently issued a warning against Lockwood / SolutionsCM Ltd.:
“BALI LIMITED LTD/ SOLUTIONSCM LTD http://lockwoodinv.com is not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, which include investment advice, or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the said Law, including, for those purposes, foreign currency transactions.”
We recommend you to avoid not licensed brokers and choose among the regulated ones. The most reliable regulators are the UK’s FCA, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). These regulators require a certain amount of capital from the brokers to guarantee the compensation of funds and a certain level of safety of clients’ money.