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Lincoln Financial Service LTD Review | Is It an Another Scam Broker?

by Kevin Berry
Rating: 
  1/5   Reviews: 2
Lincoln Financial Service LTD - logo

Another scam broker, Lincoln Financial Service LTD, is on the scene, claiming to offer CFD trading while simultaneously presenting a US office address. This scenario is fundamentally flawed, given that CFDs are strictly outlawed within US jurisdiction. What’s the motive behind such deception? Could these swindlers truly be under the impression that they can scam naive traders out of their money using fabricated details? Their lack of any legitimate licensing and ambiguous reviews are telling signs. If you’re keen on understanding in detail why you shouldn’t trust that company with your funds, join us in our exposé.

Highlights

🏛️ Country USA, UK
⚠️ Regulation
🖥️ Website https://www.lincolnfinancialservicesltd.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $100
⚖️ Minimum and Maximum Leverage 1:400
⚙️ Trading Platform WebTrader
📨 E-mail support@lincolnfinancialservicesltd.net
📞 Phone +48608188401, +48608188422

First Impression of Lincolnfinancialservicesltd.com

Lincoln Financial Service LTD’s official website is as generic, templated, and unremarkable as they come for brokerage firms. We’ve come across such designs numerous times. These con artists might be mass-producing their websites from a single template or perhaps sourcing them from one place. The site employs a dark blue theme, peppered with flashy graphics portraying high-tech prowess and professional trading. Standard headers detailing account types, their platform, company operations, and deposit/withdrawal methods dominate the top. The content is filled with fluff and clichéd phrases, lacking specific details or in-depth information.

Lincoln Financial Service LTD - site

Partnership and Bonuses

Right from the outset, it’s evident that the broker is enticing traders with a bonus, a common tactic for companies like Lincoln Financial Service LTD. While the bonus appears to be exclusive to the “Gold” package, necessitating a whopping $100,000 deposit, we speculate that this perk might be accessible to all clients. One should note brokers don’t dole out bonuses without attached stipulations. Many times, these terms make it impossible to withdraw any funds until the bonus has been fully utilized in trades. Astute and crafty brokerage intermediaries often leverage such nuances.

Lincoln Financial Service LTD offers an affiliate program. Clients can refer others via their unique link, earning up to 20% from the referral’s deposited amount, applicable for deposits between $250 and $5,000. There’s a catch, though: the bonus recipient can’t instantly cash out. As per the stipulations, they must wait until the referred individual has executed trades amounting to at least 50% of their deposited volume.

Account Opening on Lincolnfinancialservicesltd.com

To open an account with Lincoln Financial Service LTD, you need to provide your first name, last name, email, phone number, and country. And also to think up a password, choose an account type, and agree to the terms and conditions.

Registration

The user dashboard provided by the firm is quite rudimentary. Features include the ability to update personal information, alter passwords, navigate to the trading interface, deposit, or withdraw funds, upload KYC documents, and review past trades and transactions. Notably, Lincoln Financial Service LTD doesn’t offer a demo account. It means potential users can only assess the platform after depositing funds.

Verification

Lincoln Financial Service LTD dedicates an entire section to the verification process. However, it’s ambiguous whether undergoing KYC is compulsory. The homepage suggests that once an account is registered, users can deposit and start trading. For verification, users are required to upload documents verifying their identity and residential address. This process is facilitated through the user dashboard, where one selects the document type and locates the file on their computer.

Pros
  • It’s convenient to upload documents.
Cons
  • None.

Trading Software

The trading platform of Lincoln Financial Service LTD works in two versions: webtrader and mobile trader. Moreover, the mobile terminal also works as a web platform, but not as a separate application, which can be downloaded from the official shops AppStore and Play Market. Trading software supports more than 300 assets, stop-loss/take-profit, one-click execution, favorite lists, tools for technical analysis and indicators.

Terminal

Lincoln Financial Service LTD’s platform has quite limited functionalities and capabilities, which is likely to be a disappointment for professional traders. It lacks features such as custom indicator uploads, auto-trading, copy-trading, and stop-trailing. The firm only offers a single version of its trading terminal, leaving no room for alternatives. They could have considered licensing MetaTrader, the foremost terminal in the forex sector.

Features Lincoln Financial Service LTD Savoy Investment Group  IC Markets
Demo Account ✔️ ✔️
Mobile App ✔️
Own Development ✔️

How Can I Trade With Lincoln Financial Service LTD?

At Lincoln Financial Service LTD, the starting deposit requirement is $100. Interestingly, specifics like spread size and trading commissions are not transparently provided. The range of additional services available to a client depends on the plan they opt for. There are five distinct options to consider. Let’s examine these in more detail.

All Info About Accounts

The “Beginner” package, evidently tailored for newcomers to trading, encompasses a restricted range of assets, the support of a dedicated account manager, and offers 3 insured trades. Traders have the discretion to choose between fixed or floating spreads. The reason for this limited asset availability remains unclear to us. Also, a note of caution regarding insured trades: they are somewhat comparable to bonuses and are thus subject to specific terms.

The second account option with Lincoln Financial Service LTD isn’t vastly different from the first, except it offers company lending and an expanded range of instruments. Yet, activating that plan requires a minimum of $5,000. The disparity of $4,900 between the first and second plans seems ambitious, especially given no significant added benefits. The remaining plans set high bars for deposits and present ambiguous extra services like mentorship programs, signals, dedicated analysts and insurance.

Accounts

Lincoln Financial Service LTD’s trading conditions are both hidden and inappropriately similar. A comprehensive list of services only unlocks with a deposit of $100,000 or more. Which sensible trader would entrust such an amount to a faceless company with no proven reputation? Moreover, the absence of an Islamic account, cent-based plans, and ECN are notable. Who provides the insurance remains unclear. And regarding the analysts of this firm – who are they? Do they possess the necessary experience, and can they validate their expertise with credible licenses? The queries pile up, overshadowing any answers.

Pros
  • None.
Cons
  • Similar and inadequate trading conditions.
  • Islamic accounts and demo accounts are absent.
  • Important parameters, such as the size of spreads and commissions, are not specified.

Market Analysis and Education With Lincolnfinancialservicesltd.com

Market analysis and education in Lincoln Financial Service LTD are scarce and few. The official website has a small news feed, trading hours, an economic calendar, FAQs, and basic information about types of financial markets.

Deposit, Withdrawal, and Fees

Lincoln Financial Service LTD processes deposits and withdrawals via Visa/Mastercard and Bank Wire International. The finer details remain a mystery; once the intended transfer amount is entered, a notification informs the trader that a manager will reach out for further discussions. Notably, there’s a conspicuous silence regarding cryptocurrency transactions.

Features Lincoln Financial Service LTD Investmarkets Maddex Capital
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

For communication, Lincoln Financial Service LTD offers as many as two telephone numbers, e-mail. The address of the office is specified in the USA. Clients can also apply for feedback via a special form on the website.

Our attempts to verify the phone number and email didn’t get anything. While the email address is valid, checking the legal address provided some interesting hints. A Google search displayed multiple brokerage firms which, curiously, share the same Colorado address as Lincoln Financial Service LTD. For transparency, we’ve attached a screenshot of our Google query – feel free to replicate the search and draw your own conclusions.

Google adress

Pros
  • Real phone numbers and emails.
Cons
  • A mass-registered office address is listed.
  • Social media and online chat are missing.

Is Lincoln Financial Service LTD Dangerous?

Considering the numerous red flags, including a generic address, questionable trading terms, signs of deceit, and a lack of legal documentation, how can one deem Lincoln Financial Service LTD as trustworthy? A review of their operational tenure and licensing is still pending before we can draw a definitive conclusion.

How Long Does The Broker Work?

The site lacks details about its operational duration. To gain insight, we’ll conduct a domain verification to determine when Lincoln Financial Service LTD might have started its suspicious endeavors. As expected, the domain was just registered in July 2023, a very recent development.

Domain

How Is Lincoln Financial Service LTD Regulated?

Could there be a redeeming feature in their license? Sadly, the answer is no. Within the jurisdiction of the USA, it’s impossible for such a company to be registered. Firstly, the given address is fake, tied to numerous other scam brokers. Secondly, there’s a valid reason financial firms avoid servicing US residents – they risk encountering issues with American regulators. Notably, CFDs are banned in the US.

Yet, the website lists a UK registration number. An examination through the Companies House shows the number belongs to an entirely different entity with a distinct name and operational history. Thus, it’s clear that Lincoln Financial Service LTD is unregulated.

Features Lincoln Financial Service LTD Lyon Assets Nicholson Financial Service
European Zone ✔️
Asian Zone ✔️
American Zone ✔️
African Zone
Offshore

Frequently Asked Questions (FAQ)

Kevin Berry
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Expert Opinion

What went through the scammers’ minds when they decided to use a US office address on their website? Were they seriously under the impression that a US address would lure unsuspecting novices and gullible individuals into parting with their money? Lincoln Financial Service LTD, as a fake broker, comes across as both laughable and disgraceful. The scammers seriously messed up, having put little effort into the site. Dear fraudsters, up your game. It’s glaringly apparent that this is a fraud broker, and it’s best to steer clear. I also urge all traders to stay vigilant and not fall for such deceptive tactics.

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Lincoln Financial Service LTD 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

2 reviews about Lincoln Financial Service LTD

Stani Kuleshov August 7, 2023 - 20:08
I'm lucky I didn't invest in this scambroker
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I opened an account, attracted by the trading terms at Lincoln Financial Service LTD. Eager to experience the platform, I wanted to immediately deposit $100, especially since they don’t provide a demo account. For me, $100 isn’t a significant amount, so I was willing to risk it to evaluate the broker in the absence of a demo. However, post-initiating a deposit request, a manager was supposed to get in touch. Yet, no one ever did, despite ample time passing.
In hindsight, maybe it’s a blessing my deposit didn’t go through. Recently, I’ve come across an increasing number of negative reviews about the company. I also found it fishy that they lack a demo account, require manager intervention, and didn’t even ask for my email and phone verification during registration.
To sum it up, I dodged a bullet. I urge you to be cautious and recommend against investing in Lincoln Financial Service LTD.

Reply
GEO134 August 19, 2023 - 11:22
Warning, Lincoln Financial Service LTD is a scam.
The level of trust

Any seasoned trader will immediately identify the pitfalls associated with Lincoln Financial Service LTD. The aura around that firm is riddled with scams, deceit, and other malicious intents. The Colorado, US address instantly raised a red flag for me. Wondering about its legitimacy, I searched for the address on Google and instantly saw the pattern. Multiple fraudulent businesses seem to share this address. It appears to be the doing of the same set of scammers or I don’t know how it operates. The fake nature of the address was evident, and unsurprisingly, no alternative was given by the fraudsters. I’m led to believe such a company might not even exist in reality. It’s not an authentic broker but a classic fraud blueprint designed to steal people’s money.
Here’s my advice. Collaborate solely with verified and reliable firms who possess genuine licences and can substantiate their claims! Steer clear from scambrokers like Lincoln Financial Service LTD.

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