There are 4 variables of trading accounts with excessive leverage levels and acceptable trading spreads. However, the broker does not showcase needed initial findings of the four mentioned accounts. If any of the information we have shared with you looks attractive and make you think to invest in this broker, we advise you to read this LincolnFX review first. It will help to understand this broker completely and properly so traders can save their hard-earned investments. Read the full LincolnFX Markets review here.
The offered four trading accounts are Micro, Standard, Premium, and VIP. Unfortunately, the broker fails to share the required minimum first deposit to start trading on these accounts. Fortunately, broker shares information about max leverages offered and average spreads offered. The max leverage of 1:500 and spreads ranging from 0.2 pips to 1 pip are provided by LincolnFX. For the development of unbiased and highly valuable review, we must scrutinize the possible positives and negatives of this particular brokerage services provider. We will start the following section with all the possible positives of LincolnFX.
The max leverage of 1:500 is a win-win for any trader. They can be a profit maker at times but must be traded wisely. Because of their high losses making property, they are banned in controlled forex markets like EU and USA. The broker also grants access to trading terminus MetaTrader. It is one of a kind and widely used trading terminus. The broker has a wide variety of trading assets and diverse product portfolio including CFDs over many instruments.
In this part of this review, we will explore all the negatives of LincolnFX. The official website of the broker does not provide much information. The company claims to be situated in Britain as it shows a Britain telephone number. Also, a company LincolnFX.capital LTD owns the trade name. However, with the help of technology, anyone can fabricate telephone number and legit looking website. On top of it, the local financial watchdog of Britain called the Financial Conduct Authority has already blacklisted LincolnFX as a clone company. The MetaTrader trending terminus is supplied and managed by another company called The Change LTD. We certainly don’t know what is the true characteristic of this broker but third person involvement raises several suspicions.
Is LincolnFX scam or legit?
LincolnFX is an unregulated broker with many problems. It provides banned leverages and the initial investment is unknown. MetaTrader is supplied by another company. The broker itself is anonymous and its origin is not known. Furthermore, it is a clone company and blacklisted by FCA. All of this is enough to call it a potential scam broker 2020.