We came across the LTC FIN broker, which offers to trade on a next-generation platform. Very tempting! The only embarrassing thing is that all the reviews about this company appeared literally in January 2023. What to do? Don’t invest in it right away. It is better to find out if this is a scam.
Table of Contents
|🎲 Demo Account
|⏳ Start Time
|💲 Minimum Deposit
|⚖️ Minimum and Maximum Leverage
|⚙️ Trading Platform
|LTC FIN Trading Station (THTS)
|+41 44 508 71 21
First Impression of Ltcfin.com
The broker’s website looks attractive only to a newbie. LTC FIN uses nice colors and themed photos, but it’s all so boring! Quotes here are provided by TradingView plugins. We didn’t notice anything else interesting.
All this is not too similar to the platform of the next generation. By the way, LTC FIN claims that the average daily trading volume exceeds 545 million in an unknown currency. Also, as many as 12 liquidity providers cooperate with the broker. Sounds great! Alas, it is not very plausible. Let’s see.
Partnership and Bonuses
LTC FIN offers experienced traders to earn extra income on the copy-trading Covesting platform. According to the conditions, you can receive up to 20% of the profits earned by followers. We think these are extremely strange conditions. Often, when copy-trading, on the contrary, subscribers receive a percentage of the trades of the leading trader.
Even more interesting is that the mentioned platform Covesting has its own website. It is also owned by the well-known exchange PrimeXBT. In any case, LTC FIN does not link to them.
The broker also promises to accrue a welcome bonus after the first deposit. At the same time, the size of this bonus is not specified anywhere.
Account Opening on Ltcfin.com
Registration is no different either. You need to provide personal and contact details, create a password, and enter a promo code, if any. Also, for some reason, you should come up with a username and agree to the terms of service.
The system will immediately transfer you to your LTC FIN personal account. It makes a double impression. On the one hand, menu items resemble the personal accounts of forex industry leaders. On the other hand, they are practically useless.
So, in the news section, we can find out that the band Snail Mail has announced a new tour in the US. How does this relate to financial markets? It’s just that LTC FIN uses plugins from the aggregator newsapi.org. All mixed up.
Of course, there are standard options for depositing and withdrawing, viewing transactions, and uploading documents. A completely useless FAQ is provided. And yes, there is not only copy trading, but also social trading. However, both of these sections are empty.
LTC FIN follows the KYC policy. According to it, clients must provide:
- Identity proof
- Residency proof
- Payment proof.
All data must match the data of the owner of the payment instrument.
- There is a detailed list of documents in your personal account
- Partial credit card details are requested
- Scans must be in color only.
- The deadline for processing the application for verification is not specified
Judging by the descriptions on the site, LTC FIN offers its own development, THTS, which has won many awards. The software is available on both PC and mobile devices. In fact, in the personal account, there is a link only to WebTrader. The login and password to access it will be sent to your email.
Well, so we ended up seeing anything but next-gen software. Don’t you think that this creepy design remained somewhere in the middle of the 2000s? And what kind of functionality can we talk about? What the hell are millions of transactions expected here every day?
You can change the terminal skin to ‘pumpkin’ and it’s so cute. However, you cannot try the demo without depositing. LTC FIN claimed to offer a wide range of assets, but in reality, there are less than a dozen instruments in each group. And you can’t rely on 12 liquidity providers, because the quotes here are again taken from TradingView.
After all, this is not LTC FIN’s development. The software is owned by ActTrader Technologies and is a light version of the terminal for browsers. Total failure.
How Can I Trade With LTC FIN?
The broker offers to trade with over 70 assets. Wait, is that an advantage? Okay. We are also promised margin trading and incredible benefits from the leverage effect. Forgetting to mention the incredible losses.
All Info About Accounts
Well, when we took a closer look at the LTC FIN accounts, we realized that we were faced with a nightmarish scam again. Just see for yourself! Yes, there are ridiculous conditions that have nothing to do with trading.
First of all, the deposit starts from 10 thousand dollars. And that’s when licensed Forex brokers have cent accounts! Further, nothing is said here about leverage, spreads, and other specifications. Finally, the conditions, most likely, were copied from somewhere without any understanding.
So, for only $100K you will get access to WhatsApp and Telegram chats. The same amount allows you to use Axe Market managed accounts. All would be fine, but Axe Market is a completely different broker.
- Not found
- Huge deposit
- Useless advantages
- Stolen texts
Market Analysis and Education With Ltcfin.com
If you listen to the creators of LTC FIN, you might really think that this is an ideal place with many services for traders. So, in addition to its own trading platform and excellent trading conditions, the broker offers education and trading signals. Recall that the first is a lie. However, the second one too.
We did not find even traces of the above-mentioned functions either on the website or in the personal account. The social trading section also probably exists just for show.
Deposit, Withdrawal, and Fees
As for payment methods, there is also a mess. The corresponding section mentions credit cards and bank transfers. LTC FIN also talks about withdrawal fees, but their value has not been found. In the FAQ section, we are offered to withdraw funds to some mysterious MoneyBox, and through it to our payment instrument. Depending on the type of instrument, the application processing takes from 1 to 6 business days.
Finally, in the personal account, we found out that the minimum deposit is not 10K dollars, but only 50 dollars. The payment methods are cards, wire transfers, and the previously unmentioned Bitcoin.
How Can I Contact It?
For communication, there is an office building address in Zurich, Switzerland. Of course, Google Maps doesn’t know anything about LTC FIN at this location. Googling turns up nothing about the phone number either.
- There is an email and a phone number.
- In the personal account, you can fill out a feedback form
- Doubtful address
- No live chat
Is LTC FIN Dangerous?
So far, all the words of the broker are crumbling like a house of cards. Let’s finally figure out if we can trust it or not.
How Long Does The Broker Work?
You might be under the impression that an award-winning platform has been on the market for years. Yes, in the world of real companies, everything is like that. However, LTC FIN is just a shameless liar. Just look at the date of its creation. At the moment it exists for less than a month.
How Is LTC FIN Regulated?
A company with such a brand-new website is unlikely to be regulated. In any case, the broker does not say anywhere about its jurisdiction or licenses. Only by looking at the address in Zurich can we guess that it has something to do with Switzerland.
We have visited the base of Swiss companies. What a pity! The company on the website refers to itself by various names, such as LTC FIN, LTC Financial, and LTC FIN Trading. None of them are found in the registry.
Frequently Asked Questions (FAQ)
How to Trade With LTC FIN?
Is LTC FIN Legit?
How Risky Is It?
Hmm, this scam has obvious positioning issues. The crooks decided to call LTC FIN the next-generation platform, but put old-fashioned software on it. Even MetaTrader would have been suitable for their purposes, but something went wrong. In addition, the site is built on the default WordPress theme. Someone clearly did not want to bother! Not to mention licenses and stuff. Please don’t even look at these lazy scammers.