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LEMAKEN Review

by Kevin Berry
Rating: 
  2.2/5   Reviews: 4
LEMAKEN - logo

We present to your attention LEMAKEN, a brokerage company serving more than 11,000 clients from 180 countries, having received 80 different awards in the Forex services industry, but not having any license from regulators. The main task of the broker is to give traders the opportunity to earn money in financial markets. However, we think otherwise. Reviews on the internet are missing, the period of operation is not indicated, legal documents are not provided, and regulation is not even mentioned. It is likely that the organization is a scam and engages in defrauding people for money. Why? Let’s figure it out.

Highlights

🏛️ Country United Kingdom
⚠️ Regulation
🖥️ Website https://www.lemaken.com/
🎲 Demo Account Yes
⏳ Start Time 2023
💲 Minimum Deposit $200
⚖️ Minimum and Maximum Leverage
⚙️ Trading Platform WebTrader
📨 E-mail support@lemaken.com
📞 Phone (518) 399-4188

First Impression of Lemaken.com

The official website of the broker is an example of an uninformed, empty, useless resource that hardly reveals the company and its conditions. Not only is it clearly hastily made without any graphic elements, or unique and beautiful design, but a large part of the necessary information is also hidden. Duration of operation, licenses, business model – all this is unknown. LEMAKEN adheres to a policy of secrecy and opacity, which definitely cannot be called a positive factor.

LEMAKEN - site

The LEMAKEN website is in two languages: English and French. At the top, there are only four sections: account types, platform, company information, and contacts. Only a minimal part of the terms is presented. The main page contains a repetition of the information listed in separate sections, as well as statistics that are not backed by any proof. If the broker has won 80 awards, why aren’t the names mentioned and who issued these awards and when?

At the bottom of the site, there are documents with user agreements, privacy policies, KYC & AML, but they are not clickable, meaning you can’t open the documents. The text contains 99% useless data, clichéd phrases, and pseudo-advantages. In short, LEMAKEN has a low-quality and unhelpful website.

Partnership and Bonuses

According to the website, there are no bonuses, which is strange. Brokers like LEMAKEN usually happily offer bonuses to clients. Upon activating the bonuses, restrictions on withdrawals are placed on the client’s account, which will only be lifted after fulfilling certain conditions. Often, these conditions are too unreasonable and absurd, so even experienced traders cannot fulfill them.

The affiliate program is also not mentioned. However, when registering a personal account in LEMAKEN, the system asks to enter an invitation code. It means that there is an affiliate program after all.

Account Opening on Lemaken.com

The process of creating an account is easy. The user needs to enter their first and last names, email, password, and phone number. You also have to agree to LEMAKEN’s terms of use, which are impossible to study because the document is missing. How can you agree to something you don’t know? It is some kind of nonsense.

Registration

After creating an account, you don’t even need to confirm the provided email and phone number, which is a serious security loophole in the broker’s system. Upon logging into your personal cabinet, the platform, which is embedded in the account, opens up immediately. LEMAKEN promptly offers to explore the terminal and the features of the dashboard through guides, which you can opt out of. Additionally, users can immediately switch to a demo mode with a virtual $10,000 and try out trading in practice.

LEMAKEN - dashboard

The dashboard allows you to track your balance, deposit and withdraw money, contact technical support, modify personal information, and upload documents for verification. The functionality is simplified to the maximum extent.

Verification

Sections explaining the KYC & AML policy do exist, but they do not open. It’s unclear whether verification is mandatory in LEMAKEN or not. Document uploads through the account in the relevant section, where file requirements are also listed. The company asks for two standard documents: the first to confirm identity and the second to confirm the residential address.

Pros
  • It’s convenient to upload documents.
Cons
  • Do not disclose information without pre-registration.
  • AML&KYC policy is not available.

Trading Software

The trading platform at LEMAKEN is a basic web terminal with a limited set of features and tools. Clients can switch between 10 timeframes and 4 types of charts. Basic indicators, tools for graphical and technical analysis, and multi-charts support are available. Additionally, pending orders, stop-losses, and take-profits are supported. Signals are integrated into the platform, but their source and quality are unknown.

Platform

The broker boldly claims that order execution is fast and requotes are absent. Among other statements from the firm that we didn’t find were one-click trading and a mobile application. The website mentions that there is a mobile platform, but how to download it, we don’t know. Links to official AppStore/Play Market stores are not provided. Perhaps it’s simply a version adapted for smartphones. In general, LEMAKEN hypes up its platform as if it’s the best terminal.

The software falls short compared to popular programs like MetaTrader, cTrader, and other terminals. Automatic trading, the ability to upload custom setting templates, and proprietary indicators are missing. At least we should be thankful for the presence of a demo account. That is, perhaps, the only plus at LEMAKEN.

Features LEMAKEN Endurings Markets Blue Coin Trade
Demo Account ✔️
Mobile App ✔️
Own Development ✔️

How Can I Trade With LEMAKEN?

Trading conditions depend on the type of account the trader chooses. Interestingly, the website states in the statistics section that there are 5 tariffs, but there are only 4. Can’t LEMAKEN even count? Or is the fifth tariff simply the demo account?

All Info About Accounts

So, the minimum deposit is $200. Upon opening the first type of account, the trader receives free daily research, customer service, online seminars monthly, a dedicated account manager, signals by SMS (WhatsApp), premium daily scan, and 1 to 1 training with a specialist. LEMAKEN seems to have made an error and listed all additional services across all account types, as the owners of the first tariff have access to the same features as owners of the “PRO” tariff, with a minimum deposit of $5,000. And we mentioned that the broker’s website is low-quality and unfinished.

Account types

Firstly, a minimum deposit of $200 is high, as many competitors offer the option to start forex trading with just $1-10. Secondly, where are examples of daily research, signals, and customer service? What kind of results do these services yield? Thirdly, what are the sizes of the spreads and commissions? These are the most important parameters that remain unknown. Fourthly, where is the option for an Islamic account?

Pros
  • None.
Cons
  • High minimum deposit.
  • Hidden trading conditions. Spreads and commissions are not marked.
  • There is no Islamic account.

Market Analysis and Education With Lemaken.com

The firm provides no additional widgets, analytical services, or educational resources. Everything available to traders is described in the account types. LEMAKEN doesn’t even offer a news feed, a standard economic calendar, or any glossary and FAQ.

Deposit, Withdrawal, and Fees

The section dedicated to deposits and withdrawals is missing on LEMAKEN’s website. However, judging by the icons on the main page, one could assume that the broker accepts Visa/Mastercard, PayPal, Skrill, and bank wire transfers. The fees remain unknown. It’s simply the utmost opacity towards clients.

Features LEMAKEN Bithebanx.pro IC Markets
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️ ✔️
Crypto Transfers
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

For communication, LEMAKEN provides a phone number and email address. They do not maintain social media accounts, and online chat is absent. Moreover, the phone number turned out to be a mass number, according to Google.

Phone number

The same phone number is listed on various websites. Additionally, we also checked LEMAKEN’s email address, which turned out to be fake. One wonders how one can actually get in touch with company representatives?

Email

Pros
  • None.
Cons
  • Mass phone number.
  • Email doesn’t exist.
  • There are no social media accounts, nor is there online chat.

Is LEMAKEN Dangerous?

In fact, we no longer have any doubts that the broker is engaged in fraudulent activities. We have found too many suspicious facts about LEMAKEN. These include fake contact information, hidden trading conditions, and a low-quality website. What remains is to find out when the firm was founded and whether it holds any licenses. After that, we can draw our conclusions.

How Long Does The Broker Work?

LEMAKEN has not indicated its founding date, and that’s hardly surprising. Often, scam companies either do not specify their operating timeline or make up fake dates.

Domain

The company’s website domain was registered in 2021 and last updated in June 2023. According to snapshots, the domain was up for sale in 2021 and 2022, and it appears to have been purchased by fraudsters in 2023. Everything adds up.

Webarchive

How Is LEMAKEN Regulated?

The broker mentions a company called NECLID LTD on its website, which apparently manages the website and brand, and is based in the United Kingdom. Therefore, our task is to verify the given address and the FCA register, which oversees brokers’ activities in this jurisdiction.

NECLID LTD does exist in the United Kingdom, but it doesn’t boast any FCA licenses. However, we have significant doubts that there is any connection between NECLID LTD and the subject of our review. We also tried to find additional information in UK registries under the name LEMAKEN, but found nothing. So in any case, there is no license, which means illegal activity.

LEMAKEN - FCA

Features LEMAKEN GLE Markets Oanda
European Zone ✔️
Asian Zone
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With LEMAKEN?

First, you need to register an account on the official website. Then you can try the platform and its functionality using a free demo account. For real trading, you need to provide additional personal information and make a deposit. The broker will likely require identity verification.

Is LEMAKEN Legit?

The company operates illegally, as it lacks a license. The broker refers to the legal address of another organization, which is unlikely to have anything to do with LEMAKEN.

How Risky Is It?

Trading with such a company carries a 100% risk. You should not invest money in LEMAKEN because it is easy to lose it. The firm can easily refuse to withdraw funds.
Kevin Berry
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Expert Opinion

Even the official website indicates the fraud scheme of the LEMAKEN broker. An absolutely unfinished, poor, and low-quality resource, while many conditions are hidden, as is information about the company. There are no licenses, which is not surprising. The legal address given belongs to another organization, which has no relation to scammers. Please, do not fall for such a scam, because they will steal all your money. Any safe and honest firm will provide the date of establishment and documents, obtain a license, and elaborate on the conditions, rather than hiding all this information.

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LEMAKEN rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

4 reviews about LEMAKEN

Irish Bearish September 4, 2023 - 06:14
They stole my money, there's a fake platform :(
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Scammers stole my money and don’t want to return it. I’m a fool for investing money in a non-existent organization. What a dumb mistake to make. It’s sad and pitiful to lose money like this ☹️ I hope my review will help someone 🙁

Reply
Petr Parker September 13, 2023 - 23:03
You can't cooperate with such scambrokers
The level of trust
Quick withdrawal of funds

You can’t cooperate with brokers like LEMAKEN. Why? Because they are scambrokers who pretend to operate legally and safely, but are actually engaged in straightforward theft. The broker lacks a license, which is the most important attribute of any honest, reliable brokerage intermediary. The company is most likely not even registered anywhere, it has no legal documents, and the address provided belongs to another firm in the UK. Even if you think that the firm is the same entity, it still has not obtained a license from the FCA and is operating illegally. Therefore, LEMAKEN is a scam and fraud.
The way the website looks is simply horrible. You can’t call such a website professional. After all, an official website is the face of any company, especially a brokerage. And when you see such a website, the desire to cooperate and even to explore the terms vanishes. Moreover, the broker doesn’t even share information about its activities; for example, the date of foundation and business model are hidden, and the terms are almost not indicated. What spreads? What commissions? What leverage? Where are the contract specifications?
No, fellow traders. It is definitely a scambroker engaged in fraud. It’s better not even to register an account here.

Reply
Axe September 22, 2023 - 12:55
For some reason, they won't take my money back
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Can someone please tell me how to withdraw money from Lemaken? I invested more than $1000 to trade cryptocurrency and stocks, but now I can’t withdraw it. I managed to make a profit of +$500, which I want to withdraw, but I can’t. I filed a withdrawal request, first for the $500 profit and then the entire amount, as I have major doubts about the company’s reliability.
It’s been over two weeks, and the money still hasn’t been withdrawn. Is it normal? Have I fallen for a scam? Or how can it be explained? Has anyone tried trading here, has anyone withdrawn money from Lemaken?
I’m really afraid that I’m dealing with a classic fraud scheme, and that’s why I can’t withdraw the money. It would be sad to lose such a large amount. It’s not critical for me, but I don’t want to lose money in such a foolish way. As for other people, I recommend avoiding this firm, as it appears to be fake and a scam. It just can’t be that withdrawal takes two weeks.
And the managers are not responding either. I sent a request through a special contact form, but received no answer. I have a feeling that their contact information is fake. If that’s the case, then it’s a complete disaster.

Reply
Charity May October 5, 2023 - 16:20
Great experience with Lemaken
The level of trust
Quick withdrawal of funds
Efficiency of technical support

“I had a great experience with Lemaken Forex platform. The user-friendly interface, coupled with reliable and efficient trading tools, made my trading journey smooth and enjoyable. The platform’s customer support is commendable, always responsive and ready to assist. I appreciate the range of educational resources available, which helped me make informed decisions. Overall, Lemaken has proven to be a trustworthy and professional forex platform, and I highly recommend it to fellow traders.

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