LBLV is an offshore forex broker. According to the brokers’ website, lblv.com, LBLV is owned and operated by LBLV Ltd. The company is operating under the laws of St. Vincent and the Grenadines.
In this LBLV Review we’ll check the different types of accounts offered to their clients with the maximum leverage present of 1:500. Spreads range from 0.3 pips on forex pairs and trading instruments are presented on the broker’s website.
The trading platform is quite different from those most known for trades in the forex market as it was developed by LBLV itself to be called LBLV trader.
I reviewed LBLV based on the following criteria.
- Various Funding Options
- No Regulation
- High spreads
- High minimum deposit
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!
The question arises of whether LBLV scam or a trusted broker and in that regard, I’ll be presenting you with my findings regarding LBLV and you get to decide that for yourself.
Well, there were talks about the broker being regulated by the FCA and licensed by the highly esteemed regulatory jurisdiction, however that turned out to be false news as the FCA itself published a warning regarding LBLV for it being non regulated by the financial regulator nor is it authorized by them. And nothing was mentioned by the FCA about LBLV ever since.
And here you can see the published article by the FCA itself.
And that establishes the fact that LBLV is not regulated by FCA.
Now, based on the broker’s official website, there is no mention of any kind of regulation from even an offshore regulatory organization. which established the fact that LBLV isn’t, in fact, regulated by any financial jurisdiction.
LBLV ltd is a registered business number 26820 BC 2022, operating under the laws of St. Vincent and the Grenadines.
Without regulation or license, trading with LBLV might not be the safest option considering it puts your funds at risk of any financial crises and the fact that the traders won’t be able to distinguish their funds from the company’s funds as the accounts won’t have the option of segregation which means keeping the clients funds separate and in different accounts from the operational funds of the company itself.
While the broker claims on their website that the client funds are deposited in segregated accounts within trusted banks, there’s no absolute proof of the reality of that claim since a regulation isn’t provided to ensure such action is taking place.
Account Types & Spreads
LBLV offers 6 different account types to facilitate choices but in my opinion, due to the high minimum deposit requested by the broker, it makes it insensible as not all brokers can trade with this much amount of funds especially if they were new traders.
The minimum deposit for the Rookie account is $5000, the Basic account is $25000. The premier account has a $50000 minimum deposit. The elite account has a $100,000 and the Elite plus is $250000 as a minimum deposit. Whereas, the VIP account has an unbelievable minimum deposit of $1 M. 1 MILLION DOLLARS as a minimum deposit is a first seen especially when the broker isn’t even regulated.
The spreads are floating in all the account types which would change with the fluctuation rate of the market which might not suit all types of traders with different strategies and techniques.
The maximum leverage offered is 1:500 which is a massive amount considering the high rates of the minimum deposit required anyway. Since high leverage would be considered a double-edged weapon, it can aid in both higher profits and higher losses. In which is a very risky matter here.
Islamic accounts or swap-free accounts are available within all account types but they’re opened through a request made, and LBLV would ask for proof and they maintain the right to accept or refuse the request.
LBLV Trading Platform
The broker is having plenty of disadvantages in my opinion regarding their trading platform in terms of not providing the most popular platforms in the market or even the 2nd most popular. And by that I mean the MT4 and MT5 developed by MetaQuotes.
LBLV is providing its own platform developed by the broker and so it would be having different and new features from what we might have accustomed ourselves to through MT4 and MT5.
Some of these features of the LBLV platform includes:
- The platform is designed for newbies and professional trades
- Since the platform isn’t known to all trades, yet those who have used recommend it to other trades
- Works on almost all devices including windows, MAC, android and IOS.
- Real time data is provided
- Tools for graphical and technical analysis
- MQL language is built-in
- Encryption System
There are also options for educational materials provided by the broker that include eBooks and an FAQ section on the website with answers to queries that might arise in your trading process.
Trading Instruments in LBLV
LBLV offers forex, commodities, indices, and shares as the trading instruments offered on their platform, LBLV trader. This, regarding the great wide market the forex represents and the fact that all other brokers in the market provide way more instruments than just these, the variety of the instruments is just there.
Major, minor and exotic forex pairs are available. Major pairs include EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, and USD/CAD and minor pairs include EUR/GBP, GBP/JPY, and EUR/CHF yet the exotic pairs are not liquid within LBLV.
The spread on forex pairs is 0.3 pips with no commission or fees applied and fast execution of the trading transaction.
Spot metals trading is possible with LBLV as it offers a leverage of 1:100 on the metals that include Gold, Silver, Platinum, Copper, and Palladium.
Indices of the major companies around the world are also possible that include Apple, Tesla, and more.
LBLV Funding Options
The funding options with LBLV are not quite scarce not they’re of great variety. However, they’d be enough as a basic form to deposit and withdraw funds from the accounts.
The options for cards as a means of depositing are possible whether that was a credit or debit card. Visa or Mastercard. Generally, the depositing time using credit or debit cards is instant and so is the case with LBLV. Yet, payment processing and deposits may vary from 1-3 business days.
There’s also the option for bank transfers through swift transfers which they might take 3-5 business days. The bank that you’re dealing with might charge for transactions and so it’s advised to check with your chosen banks first before processing the transaction. The broker makes sure to clarify those details on their website too in case clients were not aware.
Besides the cards and bank transfer options, E-wallets or electronic payment choices are present to facilitate deposit and withdrawal into the account. These include bitcoin, Neteller, Ripple, and more. the accepted currencies which are USD, EUR. and GBP take around 2-5 business days for the complete transfer.
The same means apply to the LBLV withdrawal methods too yet the timeframe differs according to the means used. So for example, if you want to withdraw using a credit or debit card, the LBLV withdrawal requests are processed within 1 business day but you’ll expect the payment itself to happen within 2-9 business days.
Regarding the bank transfer being used to withdraw profits or funds in general, the processing of these transactions is done within 1 business day and you will expect the funds to reach you after the approval of the request within 2-9 business days. There is a minimum amount for wire transfers to take place which is $50 or more.
Concerning the e-wallet options in LBLV withdrawals, they’re also processed within 1 business day and the funds are received within 1-3 business days.
LBLV is an offshore Forex broker. No regulation nor licenses are obtained which is the core of reliability between the broker house and the trader in a huge market like the forex.
6 account types are offered ye the minimum deposit is so extreme to reach $1m in the VIP accounts. With floating spreads that reach 0.3 pips on forex pairs and maximum leverage offered on the accounts of 1:500. There is no option for a demo account and the option to open an Islamic swap free account is available on all account types.
In this LBLV Review, we’ve viewed the trading instruments aren’t enough in comparison with other broker houses in the market where providing multiple trading tools and instruments is crucial to diversify the trading profile of the investors.
The absence of MT4 and MT5 is another major disadvantage of the broker. Not only they are the most popular in the forex market, but also the most used and most trusted platforms by forex and CFDs investors. Yet, LBLV is providing its own trading platform called LBLV trader with its special features to help to trade on all devices.
E-books options and a FAQ section are available to help in providing knowledge and information to clients.
The Website has barely any information, and the navigation process through the tabs aren’t the most smooth nor pleasant.
There are so many major question marks in critical topics about LBLV, I recommend to check Forex Brokers with Low Minimum Deposit for other options to open an account with lower minimum deposit than $5000 as in here.