LBLV is a broker that offers confident investing. However, we are not yet confident that it’s not a scam, so we are starting our investigation. Stay with us to understand whether it’s worth your time.
- LBLV General Information
- Registration and Client Portal Review
- LBLV Trading Conditions
- Account Types Review
- Trading Platform
- LBLV — Deposit and Withdrawal of Funds
- Additional Options
- Is LBLV a Scam?
- Legal Information and License
- Lblv.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
LBLV General Information
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Registration and Client Portal Review
The official website of LBLV presents a pleasant user experience, with a few minor shortcomings. The overall design is visually appealing, providing a welcoming atmosphere. However, there are some inconsistencies, such as the unclear form of the “Create Account” button, which might need further attention. While the site maintains a level of template-based design, it effectively incorporates essential legal information and presents comprehensive descriptions of its trading conditions. In terms of language options, the variety might be a bit restricted, but having English as an option is certainly advantageous.
Given the LBLV’s licensing status, the initial process involves completing a comprehensive questionnaire. This form requires you to provide detailed personal information, including your contact details and residential address. Moreover, if you possess a referral code, you have the option to include it in the provided space.
However, the registration process didn’t go smoothly for us. We received a notification that our request didn’t go through successfully and were advised to get in touch with a manager. It’s a bit disappointing, as we were looking forward to accessing the Client Portal and exploring its features.
LBLV Trading Conditions
LBLV presents itself as a platform that aims to unite traders, fostering a sense of community among them. Let’s delve into the specifics of what exactly features it offers to facilitate this sense of unity.
Account Types Review
LBLV offers a range of 6 account types, each with its own set of features and benefits. However, it’s important to note that the broker’s requirements for these accounts are quite ambitious and may not be attainable for everyone. Let’s take a closer look at these account types and their associated demands.
Starting with the LBLV Rookie account, a deposit of $5,000 is required. This account offers standard features such as customer support, mobile trading, and the option for an Islamic account. Moving up, the next account demands a deposit of $10,000 and provides a personal manager for assistance. However, it’s with the Premier account that access to technical indicators for analysis becomes available. Surprisingly, this essential feature is only accessible with a deposit of $50,000.
This begs the question: why would LBLV place such significant limitations on accessing fundamental tools like technical indicators? These indicators are the backbone of the analysis, and requiring a $50,000 deposit for their use seems excessive, to say the least.
As for the other account types, the added benefits seem to offer little practical value. These benefits include access to technical analysis, a personal EU bank account, and a personal banker. However, to unlock these features, the required deposit amounts are exorbitant. For instance, in the account tier where a personal banker is provided, the deposit requirement stands at a staggering one million dollars.
In essence, it appears that LBLV has taken an unconventional approach with its account offerings, imposing unrealistic deposit requirements for access to vital trading tools.
LBLV offers a platform that appears to be proprietary, but details about its origin and development remain undisclosed. The platform can only be accessed through the client portal, and launching the web trader is also limited due to our lack of access. It’s quite concerning that the broker does not provide comprehensive information about this trading terminal, nor does it specify the exact entity responsible for its creation. This lack of transparency regarding the platform’s origins and functionality raises doubts about its reliability and suitability for traders.
LBLV — Deposit and Withdrawal of Funds
The methods for depositing and withdrawing funds are outlined in the broker’s user agreement. Rather than simplifying the process for traders, LBLV has opted to have them seek out this information. Deposits can be made either through credit or debit cards or by bank transfer. As for withdrawals, the company promises that they will be processed within 5-7 days. However, when it comes to commissions and fees, the company retains the right to revise their size at any time.
The significance of undergoing verification is highlighted in the AML Policy document provided by LBLV. This is a standard requirement in the financial industry to ensure compliance with anti-money laundering regulations. Traders are required to provide certain documents to verify their identity and address. This typically includes a valid government-issued ID, such as a passport or driver’s license, and a recent utility bill or bank statement that confirms their residential address. Additionally, the broker will require a photo or scan of your bank card if you used it for making deposits. The verification process is usually conducted through the broker’s online platform. Traders need to scan or take clear photos of their documents and upload them to their accounts.
After the documents are submitted, the broker’s verification team reviews them. Processing time may vary, but it is usually completed within a few business days.
Among the additional services offered by the broker, one notable aspect is its educational resources. LBLV has allocated an entire section to educational materials.
Meanwhile, the notion of a personal banker requiring a million dollars seems quite extravagant and raises questions about its practicality. The availability of analysts is also dubious, as the platform lacks openly accessible analyses. Additionally, while the registration form includes a field for a referral code, there is no clear mention of a corresponding affiliate or partner program
Is LBLV a Scam?
At this juncture, we find ourselves in a state of uncertainty regarding the categorization of LBLV. As such, we are poised to continue our investigation with the aim of gaining a clearer understanding of the broker’s true nature.
Legal Information and License
LBLV provides us with the necessary legal information in the footer. It is registered in the Comoros Union and has even obtained a license from the Mwali regulator. Why such a distant location, you might wonder? Allow us to shed light on this choice. The Comoros have become quite popular among forex brokers. Acquiring a license can be accomplished in just a few weeks, requiring a simple payment. The license renewal process is similarly straightforward – just another payment. Naturally, traders shouldn’t expect stringent regulation. We wouldn’t find much comfort in this license ourselves.
Lblv.com Domain Info
The broker has been in operation for quite some time. However, it was only registered in the Comoros Union in 2023. It seems that while other offshore jurisdictions are tightening their requirements for legal entities, this one remains rather lenient. That’s probably why many are rushing to change their registration. In our opinion, this situation leans more towards a negative aspect.
LBLV provides complete contact information, and there’s generally nothing to nitpick about in this regard. Except, perhaps, for the fact that the broker lacks a physical office and only has a legal address. Nevertheless, you can easily get in touch with their support team through a phone number, email, or by using the live chat feature.
Pros and Cons
- Educational resources.
- Steep account requirements.
- Lack of transparent platform details.
- Questionable licensing.
- Limited trading tools.
- Negative reviews.
Frequently Asked Questions (FAQ)
LBLV offers a range of trading services, including access to various financial markets such as forex, commodities, indices, and more. The broker provides different account types with varying features, educational resources, and trading tools. It’s important to carefully review the specific details of each account type on their official website.
The minimum deposit required varies depending on the chosen account type, as outlined in their trading conditions and starts at $5,000.
LBLV is registered in the Comoros Union and claims to be regulated by the Mwali regulator. While they provide contact information and certain legal details, traders should approach their services with caution due to the potential challenges associated with regulatory oversight in this jurisdiction.