Lamda Brokers Review Is Lamdabrokers.com A Scam

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Lamda Brokers Review – is it scam or safe?

Lamda Brokers claims to be a regulated forex and CFD broker based in what they call South Cyprus. There are a number of issues about the broker however, to start with the simple fact that there is not country called South Cyprus. We have Cyprus, which is part of the European Union and the occupied by the Turkish army norther part of the island, which is not officially recognized as a separate country except by Ankara.

On top of that, Lamda Brokers claims to be regulated both in Cyprus and the UK, which also turned out not to be true. So if you are about to open a trading account with them be sure to read the following review first.

Account type Min. deposit Max. leverage Spread s
Silver Account $100 1:400 1,2 pips, floating
Gold Account $250 1:400 1 pip
Platinum Account $1000 1:400 1 pip
ECN Account $3000 1:400 1 pip
MAM Account $3500 1:200 1 pip

Lamda Brokers advantages:

Lots of trading instruments

As we always start our reviews with any possible advantages about the broker, with Lamda Brokers this might be the selection of trading instruments, including 37 currency pairs some of which minor or exotic like USDNOK, USDSEK, USDPLN, USDMXN, USDZAR and USDTRY, as well as a selection of CFDs on gold, silver, natural gas, oil several indices, Bitcoin and Ethereum. If you are tempted by the idea of trading crypto however, here you may check our list of brokers offering bitcoin CFDs as well:

Falsely claims to be regulated

As we already noted Lamda Brokers, owned and operated by Lamda Brokers LP, claims to be based in a unexciting country – “South Cyprus” and to be regulated both by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).

So we diligently checked the registers of FCA and CySEC, but were unable to find Lamda Brokers there.

That means Lamda Brokers is deliberately trying to mislead their customers in an apparent attempt to scam them.

Our advise in such ceases is always to double check any information a broker publishes on its home page and to trade only with properly regulated brokers. On top of that with a FCA broker you will even get an insurance on your account, which will cover up to 85 000 GBP of your funds. Here you may check our list of brokers regulated in the UK:

Client Agreement not available on the Lamda Brokers homepage

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By signing for a trading account every trader must agree with certain Terms and Conditions, set by the broker in a legal document. But when we tried to open that document with Lamda Brokers it turned out we can not see it. Bear in mind that you should never agree with something you have not read.

Conclusion:

The fact that Lamda Brokers deliberately tries to mislead their customers that they are authorized in Cyprus and the UK speaks for it self – Lamda Brokers is not a legit broker and most probably is involved in scam. Here we will repeat our usual advise to chose only among licensed brokers, regulated by well known institutions like the FCA in the UK or CySEC in Cyprus.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Lamda Brokers Review

In this review, we will describe why Lamda Brokers is a scam that you should avoid at all cost !

Scammed By Lamda Brokers ? Start the process to get your funds back TODAY !

Is Lamda Brokers Legit?

Lamda Brokers 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 Lamda Brokers is a dangerous broker to deal with.

Are Funds Safe with Lamda Brokers ?

With such lack of information and Lamda Brokers being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is Lamda Brokers is withholding vital information to users.

Lamda Brokers could go bankrupt from one day to another since there are no banking information about this broker.

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Lamda Brokers Review: our Conclusion!

Lamda Brokers 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.

Forex Brokers

Forex broker is an intermediary between a trader and the currency market. Retail foreign exchange trading is not possible without a Forex brokerage. A good broker provides a trading platform, accepts deposits and processes withdrawals, provides leverage, and promptly executes trading orders.

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