LBMA

Franko Knavs

1-2 years

What trading instruments are available on LBMA?

WikiFX Reply

LBMA focuses exclusively on metals trading, which could be an attractive feature for traders who are specifically interested in this asset class. However, the lack of other popular instruments such as forex, cryptocurrencies, and commodities limits my trading opportunities. If you’re looking for a more diversified portfolio, LBMA might not meet your needs. It’s an excellent option for metals traders, but not ideal for anyone looking for broader market exposure.

Broker Issues

LBMA

Account

Platform

Instruments

Leverage

06-20

United States

Phoebe Yao

1-2 years

Do I see any risks in using LBMA?

WikiFX Reply

Yes, the unregulated status of LBMA is the most significant risk. Without the protection offered by a regulatory authority, I have no assurance that my funds are safe or that the broker is operating transparently. Furthermore, the limited information available about LBMA’s trading conditions, such as spreads, leverage, and commissions, makes it difficult for me to assess the platform’s overall cost-effectiveness. The lack of clarity on these points increases the potential for unexpected costs, making me hesitant to trade with them. For a safer and more transparent experience, I would typically prefer regulated brokers.

Broker Issues

LBMA

Regulation

06-12

United States

Karoline Hardy

1-2 years

Is LBMA a safe and legitimate choice for trading?

WikiFX Reply

Given that LBMA is unregulated, I cannot fully trust that it operates in a safe and secure manner. When trading, safety is a priority for me. Regulation provides a legal framework that ensures brokers adhere to necessary standards to protect traders' funds. Since LBMA does not have this protection in place, it leaves me exposed to potential risks. While the platform may appear to be legitimate because it has been around for several years, there is always a higher risk when trading with unregulated brokers. The absence of oversight means there's no guarantee that LBMA is acting in my best interests, which makes me cautious about using them for any significant trades.

Broker Issues

LBMA

Regulation

04-30

United States

mohdfazlan

1-2 years

How regulated is LBMA?

WikiFX Reply

LBMA, established in 2001, is an unregulated broker based in the United Kingdom. This means it does not fall under the oversight of any financial regulatory body like the FCA (Financial Conduct Authority), which provides crucial protections for investors. As a trader, regulation is one of my top concerns, as it ensures the broker follows proper standards of transparency and fairness. In this case, without the safety net of regulation, there is a much higher risk associated with trading. The lack of oversight also means that if issues arise, I have no external authority to turn to for dispute resolution. Without regulation, LBMA might not be subject to strict capital requirements, which can lead to financial instability.

Broker Issues

LBMA

Regulation

04-21

United States