34,000 clients, 5 million USD in payouts, 12 liquidity providers — these are the bold claims from a broker operating without any license or legal address. The scam broker tries to lure traders to its illegal platform, but this LimexPro review aims to help you avoid losing money to a scam. Here’s why it’s a fraud, as you will learn below.
Instead of an informative and useful official website, the company presented a semi-website. It is clearly unfinished, as many pieces of information are missing. Instead of the usual panel at the top, which provides information about the platform, types of accounts, and contacts, one can only observe sections about the company’s activities and traded asset classes.
The broker did not make an effort to create a quality resource. For example, when attempting to open the user agreement, an error occurs. Some phrases and logos overlap each other. It is also worth noting the template nature of the site. Clearly, the scammers used a ready-made template to avoid spending much time and resources on its creation.
Additionally, pop-up windows were noticed in the lower right corner, supposedly showing that one of the clients had managed to withdraw a substantial amount of money. However, no evidence is provided, and such a trick is very often used by scammers.
Regarding contact information, LimexPro offers only two options: email and online chat. Where is the phone number, and why only one email? This indicates that the broker is quite small and unserious, as large companies have various departments with their own contacts, such as technical support, verification department, customer service department, and so on.
However, there is no point in writing to the staff. Firstly, they do not respond in the online chat. Secondly, the email is fake. It is not surprising to see fake contacts; this is very typical for a scam broker.
The office address is completely unknown. Social media accounts are not created. How can one even get in touch with the broker’s representatives?
The company is a CFD platform where you can trade currency pairs, metals, indices, cryptocurrencies, and commodities. The volume of trades can be increased using leverage, which is limited to 1:200 here. The types of accounts are not specified on the official website, but when registering a personal account, the user can choose between four tariffs:
However, the differences between the tariffs are unknown. Additionally, it seems quite inconvenient to choose the type of account at the stage of creating a personal cabinet when it would be more practical to do so after studying all the conditions. It is also laughable to see LimexPro calling itself fully transparent, even though the size of the commissions is not disclosed. The minimum spread is 0.5 points, but it is not advisable to trust this. In reality, it is impossible to verify what the spread actually is since the company does not offer a demo account for study and testing, and the minimum deposit is very high.
Based on the trading conditions, several red flags can be highlighted: hidden commissions, a high minimum deposit, a lack of detailed description of account types and a demo account, and inadequate leverage.
And now the most interesting and important part. Where the company is registered and where its headquarters are located is unknown; such important information is not disclosed by the broker. Furthermore, the company calls itself regulated, although this is not the case. Fine, which financial commission issued the license? Where are the links to the registers and license numbers? If the firm is not even legally registered, how can it have regulation?
It is obvious that all the stated facts on the website are also fake. It is unlikely that there are 34,000 registered users with an average daily trading turnover of $545,000. If a company provides fabricated data, it is a serious sign of a scam.
And when did LimexPro start operating? The duration of operation also plays an important role, but alas, the platform does not disclose when it was launched. Although the domain was registered in 2022 and last updated in 2023, even if the firm started scamming people in 2022, it is still a short period of operation. It is better not to trust brokers that have been in existence for less than 10 years.
It is not surprising that there are no reviews on the internet. LimexPro definitely does not advertise and is not popular, which once again proves the fake information regarding 34,000 registered traders. It is better not to trust a broker with no comments online. This indicates a platform where no one trades.
This review provided arguments for why LimexPro engages in fraudulent activities and why it should not be trusted with money. It all started with a terrible official website that lacks most of the key information about the broker’s activities and trading conditions. Some conditions are known, but they appear unsuitable for cooperation. Reputable firms offer better and more advantageous services.
Moreover, the platform cannot guarantee reliability. The legal entity is not specified, nor is the address, so it is likely the company is not registered anywhere in any manner. It cannot have a license, making its activities illegal. Insurance? Also absent. The business model has a conflict of interest since the platform earns when traders lose. The actual operating period is not that long, and there are almost no reviews online. The number of negative factors is simply overwhelming.
Helen always knew that her passion for journalism was more than just a hobby. It was a potential career. She began her professional journey at a local newspaper in the small town where she was born. Writing on a variety of topics, from local news to financial reviews, her persistence and investigative talent soon caught the attention of editors at larger publications. We are thrilled that Helen accepted our offer and now writes for fincapital-reviews. Her exposés always create a buzz. Sometimes, we think Helen could easily open her own detective agency.
I agree, I don’t see any benefits from working with such a company. Thank you for opening my eyes.
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