If you are searching for LuioProfits reviews to know either is LuioProfits broker scam or genuine, then you have landed in the right place. This review will reveal all the whole truth about Luioprofits.com.
LuioProfits is a broker that promises to make you money through investments in bitcoin. They will earn you huge profits thanks to their team of professional traders.
They claim that their platform is used by bitcoin investors worldwide. The official website do not state the minimum deposit required and their trading conditions.
LuioProfits cited various awards cross the realm of Forex and binary options.
Should you trust LuioProfits?
We analysed LuioProfits in detail and we have to conclude that it is a scam. The official website is filled with lies in order to steal money from financially naive individuals. It is not licensed anywhere to conduct Forex services. They will disappear in no time.
LuioProfits says to be regulated by the CFTC and based in Europe. It also claimed to be regulated by the IFSC in Belize, as well as the Cyprus Securities and Exchange Commission.
When we did a background check on LuioProfits, we discovered that they are not licensed by any of these authorities.
So, LuioProfits is an illegal broker, it is not authorized any where in the world to offer investment services.
Your deposits are not safe in the hands of these people, it is a shady entity with no license and achievements.
It is also obvious that the information about their various awards is a total lie. There is no way to verify the authenticity of their claims.
Avoid LuioProfits Platform
- LuioProfits is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like LuioProfits do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
Is LuioProfits Safe?
LuioProfits is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
LuioProfits is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
How LuioProfits works?
It is risky trading with an unregulated broker like LuioProfits, as most of them turn out to be scams. Problem starts immediately you make a deposit to a scam platform. They will use many tactics to make you deposit more.
Scammers will take deposits from you but never let you withdraw anything, because these brokers often present silly legal documents and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
LuioProfits will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
LuioProfits is a very dishonest broker with no single achievement. It is a fraudulent and illegal trading site. It is going to disappear with deposits. This is why you have to stay away from them.