In this review, we will describe why LotsFX is a scam that you should avoid at all cost !
Is LotsFX Legit?
LotsFX is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why LotsFX is a dangerous broker to deal with.
Are Funds Safe with LotsFX ?
With such lack of information and LotsFX being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is LotsFX is withholding vital information to users.
LotsFX could go bankrupt from one day to another since there are no banking information about this broker.
LotsFX Review: our Conclusion!
LotsFX is an unregulated broker to avoid at all cost. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.
LotsFX Scam Review
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Website URL : www.lotsfx.com
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Type of Scam : Unregulated Broker (Forex)
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Regulation : None
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⚠️ 30/08/2022 : FCA Warned Against Unauthorised firm - www.lotsfx.com
Dear Sir/Madam,
Dear Sir/Madam,
I am the Small Investor M Invested in Your Regulated Body Lots FX of USD 4700 and also Got the Bonus of USD 5000 and it is upgraded as USD 10000 Account As informed by them initially while investing.
Now I have the Equity of around USD 27,000/- and i placed the withdrawal request of USD 2000 and USD 5000 respectively, but no response from their side, So on the intention of closure of the accounts i placed another full withdrawals.
But Now Lots FX disabled my account and not able to Trade or withdraw any money. Support team Employee Mr. Karthik Deepesh Called me and asking for more deposit for Withdrawels.
They are informing i made huge profit on less investment, so not eligible for withdraw any money? Is it Logic sir? Is it in the Agreement sir?
Please I am Complaining through your regulated body and help me to get back my money of around USD 27000/-,
I Beg You sir, I dont have single penny to deposit amd to survive in UAE.
Please help me to get back money. Please sir I need your utmost importyant on this email.
Waiting for the reply and My money.
Regards,