In this review, we will describe why you should avoid LyoFi.
Is LyoFi Legit ?
LyoFi is an unregulated Investment Company similar to nzglobaltrading, which we reviewed earlier. Problem with unregulated Investment Companies is that they are not reliable and abuse the regulations. Make sure to stay away from this Investment Company as they are anonymous and that they can disappear any time without notice. Companies providing online investment services without a license cannot provide their clients with any sort of protection.
To make sure you are dealing with a regulated and known Investment Company, you should be able to find easily who is the CEO of this investment 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 LyoFi is a dangerous Investment Company to deal with.
Are Funds Safe with LyoFi ?
With such lack of information and LyoFi being unregulated, funds are not safe. Security of funds is a huge problem with unregulated Investment Companies. A red flag that we noticed is LyoFi is withholding vital information to users.
LyoFi could go bankrupt from one day to another since there are no banking information about this Investment Company.