Loot-Trade is a broker that claims to offer trading services for various financial assets. As their name implies, they are just looting people’s money. In this article, we will explore how Loot-Trade is not a licensed broker, why traders should be cautious with Loot-Trade, and what traders think of Loot-Trade.
Is Loot-Trade a Licensed Broker?
We went through their website to find out about their license information and regulation status. As they stated on their website that they originated in Uk, so they should be regulated by FCA. But on FCA’s website, we did not find any authorization for their claim. They are not licensed or regulated.
Why Should Not You Trust an Unlicensed Broker?
This lack of regulation means the broker may engage in fraudulent or unethical practices, such as misusing clients’ funds or providing false information. Additionally, in case of any disputes, there is no governing body to protect the client’s interests. Hence, verifying that the broker is licensed and regulated is crucial before investing any money with them.
Can Loot-Trade Be Trusted?
As you have seen that they did not provide any kind of regulatory information or license, which means they are not authorized. Also, they received lots of bad reviews, which is a red flag for not trusting them. We highly recommend not trusting this broker.
What Do Traders Think of Loot-Trade?
From much feedback from online media, we found Loot-Trade is looting its clients’ investments in different ways. The main issues found are account banning, continuously canceling the profit withdrawal attempts and fake profit promises.
Scammed by Loot-Trade Broker? – Talk To Our Experts
If you believe Loot-Trade has scammed you, it is important to seek professional help. Submit a report to us, and we will provide you with a free consultation to provide you the guidance to get back your lost fund. If needed, we can provide you with legal help.