Lloyds Markets has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Massive Traders. We’ve received over 5 complaints against Lloyds Markets.
Lloyds Markets has a renowned name but no actual financial services. To avoid scams, verify a broker’s regulatory status. Lloyds Markets falsely claims UK affiliation, lacks legal New Zealand registration, and possesses a forged license. Trustworthy brokers provide transparency, adequate license, and reliable trading platforms. Be wary of bogus reviews and misleading advertisements. Always look for genuine regulatory oversight to protect your money. Avoid unregistered businesses like Lloyds Markets, which may be scams, and instead use regulated brokers for safe trading.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is Lloyds Markets Regulated? Do They Have a License?
Lloyds Markets sounds like a respectable company because of its name, which is similar to a well-known banking group. However, there are no reputable financial services available on this website. This review will assist you in identifying frauds such as Lloyds Markets and recommend reliable forex brokers for safe and secure trading in financial markets.
An important factor is a financial services provider’s regulatory status. Licensed brokers provide comprehensive details about their business, address, authorization areas, and regulatory supervision. To avoid being duped by false claims, it is imperative to confirm this information.
Although the supplied contact location is in New Zealand, Lloyds Markets purports to be a member of the UK-based Lloyds Investing Group. The terms and conditions identify Lloyd Market Ltd. as the business that operates this broker and stipulate that New Zealand jurisdiction is applicable. However, the New Zealand Financial Regulator’s registration does not contain a licensed broker with that name.
Furthermore, Lloyds Markets shows a phony license from the Financial Commission, a Hong Kong-based private self-regulatory body that has warned against Lloyds Markets. The Russian financial authorities have placed the website on a blacklist as well.
Purchasing financial instruments online needs vigilance to steer clear of the many fraudulent brokers. Make sure the broker possesses the required licenses at all times. There are many advantages to working with a licensed broker, such as those overseen by the Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in the US, or UK’s Financial Conduct Authority (FCA). These include separating customer and broker funds and protecting against negative balances.
Brokers are required to take part in guarantee programs that protect a portion of the trader’s investment in the event that the broker goes bankrupt in the EU and the UK. Up to 20,000 EUR in the EU and 85,000 GBP in the UK are covered by these assurances. Due to the high net capital requirements—EUR 730,000 in the UK and Cyprus, AUD $1,000,000 in Australia, and at least USD $20 million in the US—the chance of such a bankruptcy is, nevertheless, limited.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Lloyds Markets might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Lloyds Markets, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Lloyds Markets
Lloyds Markets makes use of the web and desktop versions of the Sirix Station trading platform. But having a trading platform does not guarantee that the broker is legitimate. Financial scammers frequently trick victims into thinking their money is invested when, in fact, it goes straight to them by manipulating platforms.
A large selection of trading software, including desktop, mobile, and web-based platforms, is provided to customers by reputable brokers. In the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the most used platforms. Because of its configurable features, ability to use multiple accounts, ability to create custom scripts for automated trading, and ability to backtest trade methods, these platforms have become industry standards.
Although the deposit selection indicates a minimum of $50, Lloyds Markets needs a minimum deposit of $250. On the other hand, trustworthy brokers permit you to register a trading account with as little as $5–$10, even with the most well-known international companies.
Lloyds Markets offers cryptocurrencies and less well-known payment processors on their deposit menu. On the other hand, trustworthy brokers provide clear ways to pay, such as bank transfers, credit/debit cards, and well-known e-wallets like PayPal, Skrill, or Neteller.
Major, minor, and exotic currency pairs, equities, cryptocurrencies, indexes, and commodities are all available for trading at Lloyds Markets. All the same, the trading that is being offered is obviously phony, considering how questionable this broker is.
For a starting account, Lloyds Markets advertises a spread of 2.3 pip, which is less profitable than industry averages. Furthermore, Lloyds Markets leaves open the prospect of hidden commissions by failing to disclose comprehensive information on trading characteristics.
Leverage is set by Lloyds Markets at 1:100, which is allowed in New Zealand but over the regulatory limit in most other countries. While high leverage might result in larger earnings, it also raises the possibility of big losses. In order to shield retail traders from undue risk, leading authorities set limits on leverage: 1:30 in the EU, UK, and Australia, and 1:50 in the US.
Lloyds Markets does not provide unusual requirements for withdrawal. But scammers frequently use further traps linked to bonuses and hidden costs that keep you from taking your money.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
To avoid such scenarios, it’s best to work with a reliable and trusted broker.
Lloyds Markets Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
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Lloyds Markets Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if Lloyds Markets might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online Lloyds Markets reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Lloyds Markets, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like Lloyds Markets enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Lloyds Markets reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Lloyds Markets.
You should always look out for consumer complaints. In the case of Lloyds Markets, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Lloyds Markets? You can share your complaint in the comment section or submit an anonymous tip.
Is Lloyds Markets Legit Or a Scam?
Lloyds Markets is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Lloyds Markets can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Lloyds Markets?
Lloyds Markets makes an effort to seem trustworthy, but it lacks the openness and regulatory support that it needs. It is imperative for investors to select regulated brokers in order to safeguard their assets and take advantage of the safeguards offered by regulatory bodies.
All the evidence suggests that Lloyds Markets might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of
Frequently Asked Questions
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Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
