Reason to avoid: No License
Listed Date: November 14, 2018
Top 3 Regulated Forex Brokers
Beware LottMarket is an Offshore-Licensed Broker. It is NOT SAFE to trade.
- Company name:
- Registration Address/ License:
Vanuatu. Offshore License, No Regulation.
LottMarket is a trading name used by the company that the company claims its establish date since 2014 with an office located in the UK. The broker offers vast trading opportunities promises potentially high investment profits and states that 75% of traders have become successful managers while delivering PAMM service. However, during the research we revealed that the company, in fact, is registered in Vanuatu, means the broker is regulated by none of the authorities and can promise a lot, while the truth can be different.
The risk of trading with non-regulated entities hides at the point when the trader deposit funds and then suddenly either losing capital, or the broker will find reasons why funds will not return to its owner. This is a typical fraud behavior, and nonlegitimate company, of course, can do so. For that reason, we strongly recommend engaging in trading only with regulated brokers from the UK or other reputable jurisdictions.
In regards to LottMarket, there is no damming evidence that LottMarket is a pure scam, but there is an evidence of some negative review from the traders. Along to the warning issued by the authorities that caught LottMarket on offering their service without its legal permission, which is a serious issue. Therefore, of course, we would advise choosing among the brokers that are reliable and actually, offering much better trading conditions.
“The Cyprus Securities and Exchange Commission (CySEC) would like to inform the investors and the public at large that the domainLottMarkets.com included in the list of not owned or operated by Cyprus Investment Firms (CIFs) which have been authorized by CySEC to provide Investment Services.”