LegoMarket Review: Unregulated Broker to Avoid!

Lego Market Review
  • Regulation Status
  • Contact Details
  • Fund Safety
0.5

Summary

Lego Market is an anonymous unregulated forex broker that is to no food. The venture has several red flags that make them unreliable. Investors will never be able to cash out their returns. Invest only with legit forex companies in the market.

LegoMarket is a forex broker that targets to generate massive returns to investors. However, our main concern is if the company is transparent in its methods of operation.

Therefore as you read this review further, you might change your decision whether or not you should invest. The platform offers spreads from 0.1, and the minimum trade amount is $10. Customers get a chance to trade on multiple devices provided you have internet connections. You can access similar services through your mobile phone or via your computer.

Trades can also be made through MT4, which is suitable for use and recommendable. Moreover, traders also get a chance to trade over 1000 trade instruments. The platform is offering forex trading, CFDs, Stocks, Metals, and Commodities. There is not much info available on the trading style and algorithm in use.

Meanwhile, some of the best forex trading brokers will ensure you grow your portfolio while your safety is being upheld. Transparency plays a major role in earning customers’ trust and always easily find enough verifiable details.

There is no data available of the people managing this company. Nevertheless, trading with scammers puts you at higher risk. You can lose access to your information and your money.

Legomarket.co Review

Legomarket. co was registered anonymously and had been operating the same way since its launch. They also seem to have a hidden motive and are mainly focused on the customers’ funds.

Platforms that show a similar style of operation as LegoMarket turn out to be scammers. The result will only yield losses when you fall for their catch. LegoMarket allegedly suites all types of traders, and you can trade huge volumes. The firm does not have any positive feedback that would we would use to recommend any of their services.

LegoMarket Review, Lego Market Company

The company is even considered a shady broker and one that would easily rob all your funds. Therefore once you deposit funds with legomarket.co, your details may get blocked from accessing any of their services. Ponzi schemes will try their best to lure you into depositing funds. Through phone calls or sometimes impossible to attain figures or promises.

Legomarket.co-team may not even have any forex trading experience, and they are not even licensed. Most investors familiar with forex trading will, at first glance, recognize the red flags that this investment firm exposes.

How Lego market Operates

The company is more likely to take advantage of inexperienced traders. Hence it is always important to do thorough research on any platform before depositing a single coin.

Traders also acquire fast transactions, and that losses are never more than the available account balance. LegoMarket forex software includes a charting package and even more than 30 indicators.

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The technical indicators help you while making trade decisions. Automated trading is greatly recommendable over humans because of the inability to hold emotions.

Moreover, relying on the wrong trading tools will only cause more damage to your funds’ account. You will only be making the fraudulent founders and team rich while expecting to gain massive profits.

The android software lets you connect with several brokers and trade the various markets from your phone. Trading just like any other business may have some profiting days and vice versa.

Nevertheless, you can also minimize the risks you incur by using licensed forex brokers. That uses legit methods of lowering risks and will generate reasonable returns on your investment funds.

LegoMarket has a very low score rating, and they also do not have any past trade data that you can rely on. You should easily find past trade history for some time, at least three months, and info you can verify.

LegoMarket Funds Safety

LegoMarket fails to reveal any details of the founders or registration. Therefore you risk trusting criminals with your hard-earned funds.

Despite the claims of fast transactions, no customer is seen to withdraw funds from the investment firm successfully. There is also no past trade history and no trading strategy or risk measures that have been made known to traders.

You would not risk a single coin on any investment firm that you are not aware of the operation style. Legomarket.co has no banking details or founders’ location whereabouts.

This type of data is very helpful because it can help if you require any assistance or refund. They also do not feature any refund policy or a demo account, and this is a major red flag.

You should invest only with companies that show a high level of transparency. LegoMarket selling strategy is poorly organized.

There is a lot of data that has been left out, and this should only serve as a warning to avoid the company at all costs. Besides, the company has a bad reputation worldwide, and you would not risk your funds with a shady platform.

LegoMarket Investment Plan

Legomarket.co has three investment plans; Standard Plan minimum trade amount is $10 and offers spreads from 0.8. This plan offers swap-free and allows tight floating spaces with the leverage set to 1:1000.

Lego Market Review, LegoMarket Payment

The trade size starts from 0,01and this plan also features market executions. Pro Plan has similar advantages as the first package. However, spreads start from 0.1, and the commission per lot is $5 the maximum leverage is 1:500.

Vip is the last available plan, and the commission per lot is $3. The maximum leverage is 1:200. The spreads start from 0.1 with similar offers to the other investment plans.

LegoMarket Regulation and Customer support

LegoMarket does not provide any info on their regulation. Therefore they are illegally generating funds from the public.

Licensed forex trading companies that have a reliable support system for their clients. You can rely on them to yield real-time returns. However, they do not have the mindset of getting rich within the unrealistic timeline.

Unregulated platforms do not last for long in the market and are more likely to face bankruptcy. It is almost impossible to trace the founders of Legomarket.co.

They hide all details that may lead to their whereabouts. This is simply because they risk being put behind bars or because they result into opening new platforms and try to scam innocent investors.

Various governments require financial investment companies to adhere to the rules set aside to protect their citizens from scammers. LegoMarket brags that it provides trading services to over 100 countries, yet no regulatory details are shown.

The website’s address shows that they are based in Griffith Suite Corporate Centre, Kingstown, St Vincent, And The Grenadines. The address is definitely made up, and the location available has nothing to do with the investment firm.

They provide email support and telephone contact; +1(343)3035845, respectively. Nevertheless, our main concern is if you will receive any feedback based on the company’s outlook.

Final Verdict

LegoMarket risks facing closure at any given time with all your investment funds and no one to hold accountable for the losses. The lack of transparency and regulation data raises even more doubt on the company.

Meanwhile, investing with regulated forex brokers will generate reasonable profits.  Your funds are at risk, and personal details risks are falling into the wrong hands.

Furthermore, they do not hold any past trade history to show any trade activity.  LegoMarket is a shady investment firm that you should be conscious of and avoid at all costs.

 

5 Replies to “LegoMarket Review: Unregulated Broker to Avoid!”

  1. Sp

    Legomarket is definitively a scam. I created an account on this site and started using the Autotrade Gold 4.0 which seemed to be performing very well. However it is now impossible to enter the client portal to withdraw funds from the account. Any money sent to LegoMarket via cryptocurrency is lost forever.

    • Bowie

      @Sp, It’s been a month, have you got any news? I’m still doing a research to decide whether they’re legit forex traders or not.

  2. Minah

    hello.. i want to inform you guys, that legomarket, legomarket llc PTY LTD on 8 September 2021 has registered to ASIC.

    if you have any further queries, i am happy to answer your questions.

    cheers

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