Minimum Deposit: $5,000
Maximum Leverage: 1:500
My Score: 2.1
LBLV is an offshore forex broker. According to the brokers’ website, lblv.com, LBLV is owned and operated by LBLV Ltd. The company alleges that based in Seychelles. Their website supports English, Russian, and Brazilian languages only.
After a brief introduction, let’s take a look at what we are going to talk about in this review.
In this LBLV review, you will find the answers to some questions. Exemplarily: Is LBLV scam or legit forex broker? What are the account types, spreads, and maximum leverage? What is the amount of LBLV minimum deposit? Is LBLV regulated? For more, keep reading!
Let’s start with the regulation section, which is the most important criterion.
Regulation of LBLV
LBLV is a brand name of LBLV Ltd and the company is registered on Seychelles. Seychelles is a famous offshore zone. There are many brokers who are registered there. LBLV claims to be fully regulated under FSA Seychelles, license No. 8419623-2.
Although the broker has a license from FSA, this license gives a loose regulation. Forex brokers who have FSA license not supervised by any governmental agency. That’s why they don’t need to meet any requirements and provide investor protection.
But reputable financial regulators like the Financial Conduct Authority (FCA) in the UK, or the Australian Securities and Investments Commission (ASIC) in Australia covers your financial funds by some strict rules.
For example, brokers must maintain £730,000 in their bank accounts as minimum net capital as a criterion of the FCA. However, there is also a compensation scheme for FCA-regulated broker’s clients.
The scheme that I talked about is the Financial Services Compensation Scheme (FSCS). The FSCS covers the client’s funds up to a maximum of £50,000. This is a crucial feature for your money’s safety.
Account Types & Spreads
There are various account types on LBLV. These are Rookie, Basic, Premier, Elite, and VIP. If we examine the account types in detail; Rookie account’s minimum deposit is 5,000 USD and spreads are floating.
The minimum deposit for the Basic account is 25,000 USD and spreads are also floating. Premier account has 50,000 USD minimum deposit. The elite account has 100,000 USD minimum deposit. If you are ready, I will explain the minimum deposit of the last account type that will shock you.
For VIP account the minimum deposit is 1M USD. No! You did not read wrong. It is ridiculously $1,000,000. I don’t think anybody with $ 1 million will open the broker’s VIP account. Anyway, let’s continue the review.
I know you are still thinking about the one million American Dollars. You’re right, but I have to talk about platforms in this episode, so let’s forget about that for now.
LBLV offers its clients MetaTrader 5 trading platform. This platform is the new version of the MetaTrader 4. This is one of the rare advantages of the broker.
MT5 is also a very popular platform, although not as much as MT4. It includes advanced chart tools, technical analysis, indicators, as well as enabling the use of automated trading systems and also signal trading systems.
LBLV offers a wide range of CFDs for trade, including on indices, commodities, precious metals and stocks. You can trade major, minor and exotic currency pairs on the MT5 trading platform.
LBLV allows you to buy and sell the most popular and valuable precious metals such as Gold, Silver, Platinum, Copper, and Palladium.
LBLV offers various funding options for its clients to activate and fund their trading account. You can deposit and withdrawal by using the credit card, bank wire transfer, e-wallets such as Skrill, Qiwi Wallet, Union Pay, Neteller, WebMoney, Yandex money, and moneta.ru
As an offshore Forex broker, it offers quite a lot of payment methods. This is another advantage for the broker.
LBLV is an offshore Forex broker. The broker supports the MT5 platform and provides online trading in a wide range of financial products. LBLV offers also several account types but there is no information about spreads.
The main problem with this broker for me is the legal status of this broker. It is better to find a more reliable Forex broker to trade. I suggest you check my top forex brokers list.