Choosing this blacklisted financial services provider as your preferred broker won’t be so profitable as they insist it will. Another suspected copy of several unscrupulous websites we’ve reviewed recently, this site has the exact texts, looks, and options as forrestfx.com and finexleaders.com.
Since whoever is behind this scheme doesn’t reveal their corporate name or legal status, we suspect the owning company to be the same as in two other cases.
What is really going on here and who is the devious mastermind behind these look alike websites? Find out in our Lendowl review.
As already proven, the website in question is an exact copy of two other fraudulent schemes owned by the same parent company. The case with both is that they’re all multiple times blacklisted. In the case of lendowl.com, even less information is provided, and it’s an absolute mystery where they’re located and who owns them.
Experienced internet frauds are known to always have a new domain waiting to be activated as soon as other ones get exposed. With the help of boiler room agents the hunt for victims is quick and efficient.
Skilled phone agents are well trained to present lies as the ultimate truth, and that’s how they promote the false service that robs investors blind.
It goes without saying that these sorts of investment and effortless trading deals are never lucrative. What is most probably gonna happen is the investors being left empty handed at the end of the day.
As convincing as these miscreants are, you should not easily throw your money into the grinder. Additionally, you are free to contact our legal services if your capital is stuck on a fake platform.
Without the possibility of a download or trading on the go, the most commonly found web terminal is the Lendowl platform too.
Easily accessible through the web trading room, this software appears comprehensible and user friendly. Do not let that deceive you in terms of its functionality.
The simplistic approach has ridden this terminal of all advanced functions, indicators, customization features and auto trading tools. The reason – easier data manipulation by the service provider.
Most popular and most commonly traded financial products are available on this network as well:
The company offers a number of account types, but these aren’t divided by different market strategies or pricing plans. They are tiered trading accounts, with more expensive ones allegedly offering better trading conditions, such as tighter spreads.
Here’s an overview:
The issues with this company include non-compliance with financial safety standards. Among the many regulation breaches is the leverage of 1:500, which is restricted to 1:50 or under in North America, and an even lower of 1:30 in Europe.
The spreads are claimed to be tight, starting at 0 Pips for the most expensive account. Cheaper accounts can expect looser starting spreads of 1.5 Pips, which is still higher than industry average. Without access to the platform, however, we weren’t able to verify this and it is possible spreads are even looser than that.
The fee structure is not clearly defined anywhere on the website, and the company does not have a Terms and Conditions document.
Another often abused method of luring in victims are the bonuses. By offering various rewards, cyber criminals place traps for the less informed investors to fall right in. These are bonuses – banned by EEA and UK authorities.
This trading portal also offers them in the amount of up to 100%, depending on the account value. The conditions under which bonuses are claimed and distributed are unknown – no legal docs exist.
The whole trading process on this site is completely artificial, so all of the profit you’ve seemingly made is fake too. Not only will all your efforts on here go to waste, but your initial investment, as well.
Fraudsters are free to impose sudden fees and charges, as well as trading volume requirements due to bonuses, due to missing legal documentation. These are just some of the excuses most often used to deny withdrawals, so beware.
This alleged brokerage is yet another on a long list of recent copycat scams. The website design and layout is very similar to known fraudulent platforms, differing only in minor details. Although the platform is still young, it is already on the BaFIN warning list.
We strongly advise against engaging in business with such entities. If you have already invested, however, we offer recovery services. Book a free consultation with our experts via the live chat, and start your chargeback today!
It is an anonymous website run by blacklisted scammers as posted by the German financial regulator.
The platform is a total scam. Being blacklisted confirms that and you should not invest here. If you have, please contact us for help with fund recovery.
Deposits are done from the client area, but there’s currently no active options presented there.
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