Welcome to our Litefxanalysis & Litefxtraders review, in which we investigate the websites currently found at litefxanalysis.com and litefxtraders.com.
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On June 13, 2023, a Georgia, USA person, who reported losing $2000, filed the following complaint with the BBB (Better Business Bureau) about a cryptocurrency scam:
A company called LiteFXAnalysis has been enticing people to transfer Bitcoin to them under the pretense of engaging in trading activities. However, once the so-called trade is completed, they abruptly block you on Facebook, severing all communication.
So is Litefxanalysis a SCAM?
Litefxanalysis.com Review
Litefxanalysis.com was registered on February 20, 2023, for one year through Gransy, s.r.o., a Czech Republic domain registrar. The registrant’s details are not disclosed besides perhaps the country – The Netherlands.
Hostinger International Limited hosts the website.
Semrush says their Authority Score is 2% based on 11 backlinks from 4 referring domains.
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On Google, only three pages are indexed: The homepage, Official Representatives, and Lite FX Traders.
The homepage and Lite FX Traders are the same, with the only difference being that instead of calling themselves “Litefxanalysis,” on litefxanalysis.com/index-2.html, they call themselves “Lite Fx Traders LIMITED” and refer to the domain litefxtraders.com.
Homepage Information
Litefxanalysis.com is a platform that offers trading services in the financial markets. They claim to have a team of experienced professionals and use sophisticated trading technology to maximize their clients’ profitability. They offer flexible investment plans and trade at millisecond intervals.
The website mentions that they provide trading in binary options, CFDs (Contracts for Difference), and various financial instruments such as indices, metals, and stocks. They offer different plans with varying trade volumes and durations.
Litefxanalysis.com emphasizes features such as an intuitive trading platform, attractive bonus system, online trading platform, functional customer support, and expertise in the industry. They highlight the benefits of their technology, security measures, real-time operations, and low fees.
Contact Information
The copyright line reads “Copyrights © 2021. All rights reserved by Litefxanalysis,” even though this domain was registered in 2023, indicating this website may have been copied from a previous website, perhaps litefxtraders.com, which was registered in 2021.
They provide their contact information and encourage users to contact them via email.
- Address: 103 ZSeven [sic] Sisters, London. United Kingdom N7 7QP
- Email: support@Litefxanalysis.com
According to Google Maps, there is a Shopfitter at 103 Seven Sisters Rd, Finsbury Park, London N7 7QP, United Kingdom (Shopfittingsonline.co.uk | Robert May Of Holloway Ltd).
Licensure Issues
Litefxanalysis Limited claims to have been officially incorporated as a private limited company under the Companies Act 2006 in England and Wales (Company Number 11661561).
The link they provide to verify their registration leads to a page that appears to be from the Companies House, minus the formatting. However, the company name is Avon Forex Limited, and the company number is 12414789.
On CompaniesHouse Company Number 11661561 belongs to GLOBAL DECENTRALIZED COMMUNITY WLS LIMITED, a private limited company involved in financial management from Wales, which was dissolved on October 20, 2020.
Company Number 12414789 belongs to AVON FOREX LIMITED, a dissolved private limited company since 27 July 2021.
Official Representatives
Litefxanalysis.com provides information about official representatives for their company in different countries. These representatives are available to help investors understand the company’s structure, explain the accrual mechanism, and provide guidance on safe and profitable investment strategies. The representatives have undergone a verification process to ensure their competence.
The website lists representatives from various countries, including Ukraine, the United States of America, Vietnam, Poland, Hong Kong, Ghana, the Dominican Republic, the United Kingdom, and Japan. The names of the representatives and the languages they speak are provided.
Litefxanalysis.com encourages individuals interested in becoming a company representative to contact them via email to inquire about the terms and conditions. Considering requests and assigning representative status may take up to two business days.
Litefxtraders.com
The website found at Litefxtraders.com is a Litefxanalysis.com clone.
It was registered on September 6, 2021, through Hosting Concepts B.V. d/b/a Registrar.eu, and is also hosted by Hostinger International Limited.
According to Semrush, it has a 6% Authority Score with 56 backlinks from 12 referring domains. Traffic comes from the United States, Vietnam, Malaysia, and other countries.
Litefxanalysis & Litefxtraders Reviews
Litefxanalysis Reviews
Various international regulators have subjected Litefxanalysis, an online financial services broker, to substantial scrutiny due to unauthorized and potentially illegal activities. Italy’s securities regulator, Consob, ordered the blocking of multiple websites, including Litefxanalysis, for allegedly offering financial services without authorization.
Moreover, the UK’s regulatory body, the Financial Conduct Authority (FCA), has issued a stern warning against Litefxanalysis, expressing concerns that the firm might be providing financial services in the UK without proper authorization. This lack of regulation puts consumer investments at significant risk as no governing laws safeguard their money.
The FCA’s warning against Litefxanalysis is critical as it implies that consumers interacting with this broker will not be privy to protections provided by the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS). They strongly advise potential investors to verify the firm’s status on the Financial Services Register and report any unauthorized activities to their Consumer Helpline.
Adding further weight to these concerns, Scam Helpers, a website exposing scam brokers, has also raised red flags about Litefxanalysis. Citing negative customer reviews, low trust scores, and the firm’s unregulated status, they caution investors about the potential risks. They warn against the promises of assured profits often peddled by such unethical entities.
Based on the investigations and warnings issued by various regulatory bodies and consumer protection services, Litefxanalysis appears to be operating with questionable legitimacy. Entrusting your investments with such an unregulated broker poses significant risks, and prospective investors are strongly advised to exercise caution.
Litefxtraders Reviews
Litefxtraders is an online platform providing contracts for difference (CFDs), forex trading transactions, and binary options. While these forms of trading can be potentially lucrative, they are also highly speculative and carry significant risks, including the possibility of total loss. Forex trading involves currency exchange and changes in exchange rates, while CFDs reflect the price development of an underlying asset without granting rights to the said asset. Binary options are cash-settled derivatives where investors bet on specific events related to underlying assets’ price, rate, or value.
Regulatory Action and Social Media Activity
Litefxtraders, operating under the domain litefxtraders.com, is not authorized by the Federal Financial Supervisory Authority (BaFin) in Germany, a significant regulatory oversight that potential investors should bear in mind. Given the high-risk nature of the trades and the lack of regulatory oversight, caution is strongly advised when engaging with the Lite Fx Traders platform.
It’s noteworthy to mention an Instagram profile under the username “charles.m.trader,” which appears to be linked to litefxtraders.com, suggesting this individual’s potential involvement in the operations of Litefxtraders.
Online Reviews
Multiple user reviews and online alerts suggest potential fraudulent activity involving Litefxtraders. In particular, ScamWatcher.org and Scam Detector have labeled Litefxtraders as a scam, pointing to the company’s unregulated status, lack of transparency, and the high risk it poses to investors’ funds.
Furthermore, Lite Fx Traders received a low score of 1.24 out of 10 on WikiFX, indicating high potential risk due to the absence of valid regulatory information. Litefxtraders.com also scored low on Scam Detector with 47.3 out of 100, suggesting the need for caution when dealing with the website.
In conclusion, the combination of high-risk trading, lack of regulatory authorization, multiple scam warnings, and low trust scores paint a concerning picture for Litefxtraders. Investors should know these risks and exercise due diligence before engaging with the platform.
Complaints We Received
On August 20, 2023, we received the following complaint:
I invested over $1000 in Litefxanalysis.com. A man named Mick Johnson recommended me to Brenda Robinson, who is supposed to be a Manager at Bitcoin. My account grew by 75%, and my investment increased to almost $16K. However, they say my account level has upgraded from bronze to silver, and I need to pay more. They are now asking for $3,850 for me to complete my trade and reach 100%. I’m suspicious that this might be a scam. I want to try to recover the money I already spent.
Conclusion
In conclusion, both Litefxanalysis and Litefxtraders pose considerable risks to potential investors. The extensive research presented in this review has revealed a multitude of red flags, including unauthorized activities, misleading information, a lack of regulatory oversight, low trust scores, and direct warnings from authoritative bodies.
Regarding Litefxanalysis, negative customer reviews, scrutiny from international regulators like the Consob and FCA, and exposure from websites like Scam Helpers point to questionable legality and significant risk for potential investors. The firm’s lack of regulation and transparency and reported investor losses further amplify these risks.
Similarly, Litefxtraders is fraught with issues. The lack of authorization by the Federal Financial Supervisory Authority (BaFin), high-risk trading, multiple scam warnings, and low trust scores make it a precarious platform for potential investors. Numerous alerts and reviews suggesting fraudulent activities further underline the need for caution.
Potential investors should consider these findings and exercise due diligence when engaging with either platform. Unauthorized and unregulated operations such as these present significant risks, including the potential loss of investments. To safeguard their interests, investors should always verify such firms’ legitimacy and adherence to the necessary regulatory standards. It is highly recommended to only engage with firms regulated by recognized financial authorities and have a clear and transparent track record.
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