Global Broker Regulation Inquiry App
WikiFX
Karoline Hardy 
1-2 years
Is LBMA a safe and legitimate choice for trading?
Broker Issues
Regulation
04-30
United States
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.
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