A broker must pay for regulated licenses to be able to offer trading. LotsFX doesn’t pay for licenses but it does offer trading which is prohibited by law.
Your money isn’t safe with LotsFX.
To be able to offer trading, you must buy a regulatory license from a country where you want to settle. If you offer trading without licenses, you don’t respect the laws and become a fraudulent broker. Brokers who don’t have regulated licenses like LotsFX will not give you your money back because they are outlaws.
Public warning against this broker.
The CNMV has issued a public warning against LotsFX. That is to say that he has offered trading in a country where he doesn’t have a regulated license. A broker who receives a public warning is 99% a scam.
Never trust the broker.
It’s essential to always check the licenses of a broker because fraudulent brokers lie to make you deposit the maximum amount of money. If you unfortunately deposit your money and are asked to pay a fee to withdraw your money, don’t do it because you will give them even more money.
Get a chargeback now.
We put you in touch with the best money recovery company that has existed since 2016, MyChargeBack. We have received positive feedback from them and their experts are very professional. You just need to complete the form below (if you have lost more than $5000, use our Chatbot directly). The consultation is free and doesn’t commit you to anything.
What are the chances of getting your money back?
Everything will depend on your file. MyChargeBack has already helped many people and knows all the procedures to do with banks to build a solid file with you and recover your money. If you want to know more about the procedure, click here.
LotsFX is a scam that doesn’t have regulated licenses. We advise you to avoid this broker if you don’t want to have a problem. If you have been a victim of this broker, don’t hesitate to leave us a comment to report this broker and avoid other people from being victims.
Start your recovery process.
Fill out the form below and get a free consultation.