The question and challenge that we will be seeking to solve in this LVM Exchange review is whether or not one should deal with LVM Exchange (La Vie Moderne) Broker. Are they honest? Do they have a reputation of treating their customers fairly? Has there been any serious complaints brought against them? These are some of the questions that we will be seeking to address here.
First, we will start by summarizing this review with a warning by saying do not utilize the services of LVM Exchange Broker. You can ignore the red flags we present here if you wish to. But ultimately, the game is set in their favor, and so you won’t avoid the inevitable. That’s how we see it.
LVM Exchange is considered not safe, as it is new and not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC and the US CFTC.
- 1 LVM Exchange Scam Investigation
- 2 About LVM Exchange
- 3 LVM Exchange Breakdown
- 4 Conclusion
- 5 Our best advise
LVM Exchange Scam Investigation
- Aforementioned, LVM Exchange is unregulated as they should be if they want to target customers on regulated markets like the European Union, including the UK, for example.
- Unregulated brokers like LVM Exchange do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing sever slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- To confirm that LVM Exchange is a scam, it is offering a managed account for its clients. Like some category of brokers, LVM Exchange is a market maker and that means it makes money, whenever traders lose. So if a market maker offers to manage you account it will be in a conflict of interest, as it surely will have an incentive to mismanage your trades and lose your money in its own pockets. On top of that, LVM Exchange come with some rather unusual terms, conditions and fees, as for example the condition that you will not be able to withdraw your funds, if the sum has fallen below 5000 EUR. Also, you will have to agree that you will not be able to withdraw your own money for a period of at least 12 months and this is not something a legit broker will ever say. Finally you should take into account the 25% performance fee, which by the way the broker reserves the right to change on their sole discretion.
- Scam brokers like LVM Exchange claim to be regulated and registered by a governing body that does not monitor or regulate forex companies. The disclosures at the bottom of the homepage give the appearance of a regulated broker. There is a warning of the risks of trading CFDs, and there is a legal section. Upon further examination of the legal section, you’ll notice that while the firm is registered as an international broker company in St. Vincent & the Grenadines, it is not regulated.
- It claims it is registered as LVM LTD in ST. Vincent and the Grenadines. However, that is not a big deal. In the past, many rogue brokers had already scammed lots of people who were registered in ST. Vincent and Grenadines. Actually, that registration is not a license to run an investment company like LVM LTD, instead, that is a registration for the tax purpose which anyone can register very easily. Most of the scam brokers are found to be registering from ST. Vincent and the Grenadines by providing virtual address and third-party identities. On top of that, there is not any proof which proves LVMExchange.com is operating by LVM LTD.
Since now it is clear that LVMExchange is a scam, so we have Blacklisted LVMExchange.com.
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About LVM Exchange
LVM Exchange is an unlicensed Forex and CFD based broker that supports Cryptocurrencies, open pairs, currency pairs (Forex) and other assets. They advertise themselves as the first FX Broker to offer its clients process logs and market spreads, owned by LVM LTD. Their physical address is disclosed as First St Vincent Bank Ltd Building, James Street Kingstown, St. Vincent and the Grenadines. To get in touch with support, traders can either phone +41215880737 (Switzerland), or email email@example.com.
LVM Exchange Breakdown
Location: ST. Vincent and the Grenadines
Asset: Forex, CFDs on Cryptos, Stocks and Commodities.
Minimum spread: from 0.5 pips
Maximum Leverage: 1:200
Minimum deposit: $50
MT4 Supported: Yes
License: Not Licensed
LVM Exchange is not a licensed broker.
Forex Broker Expert uses a simple method to determine if a Forex broker is legitimate or a scam broker. We look to see if the broker is licensed and regulated by anyone of these regulators; FSCA South Africa, FCA United Kingdom, ASIC Australia or the US CFTC.
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Our best advise
As usual in such cases our best advise is to deal only with properly regulated brokers, like the ones licensed and authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).
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- Large selection of assets
- MT4 supported
- Tight spreads
- No company history
- Market maker offering managed account