Consider trading with LinityBase forex broker? Is LinityBase.com genuine? Let’s see LinityBase review to know about this forex broker.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
LinityBase also known as LinityBase.com is an offshore brokerage company with a brand name LinityBase Trading Services LLC. Here, the broker claims incorporation in St. Vincent and the Grenadines.
What is more, the brokerage offers two different account types. See below
Further, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
See section below
Deposit and Withdrawal
LinityBase Minimum Deposit:
LinityBase FX deposit is not indicated. In contrast, the good thing about a licensed FX broker is that minimum deposit is made known to traders, and clients can start trading as low as $100 with no fear on their investment.
As for the funding methods, the broker accepts debit/ credit cards and wire transfer.
For your knowledge and security, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
LinityBase withdrawals are subject to handling and processing charges. Also, the broker charges a monthly deduction of 10% on an active account of three (3) months.
LinityBase platform offers web based trading platform with no mention of MT4 or MT5 (Industry standard trading platforms). The good things about MT4 or MT5 are features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
To talk about LinityBase leverage, it can get up to 1:400. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why LinityBase.com Is A Suspicious Forex Broker
First red flag, LinityBase presented its headquartered in St. Vincent and the Grenadines where there are no laws and requirements in the sphere of forex trading. The local Financial Services Authority SVG does not monitor or regulate brokers. Take a close look at their warning.
In addition, the platform does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
LinityBase Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
LinityBase located at LinityBase.com appears to be a genuine trading company, howbeit, that is completely false. From indications, the platform is likely run by scammers and we advise traders to steer clear from such broker. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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