Lightmarkets is a foreign exchange broker founded in Russia, providing investors with foreign exchange, metals, grains, energy, stocks, indices trading services. According to Lightmarkets, the company does not provide services to citizens of the United States, United Kingdom, Iran, Iraq, Syria, Afghanistan, and other countries and jurisdictions that violate local regulations or laws.
Company Background:
Lightmarkets' website indicates that the company is registered and established in Saint Vincent and the Grenadines. However, searches on the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) and the Commercial and Intellectual Property Office (CIPO) websites did not yield any registration information for the company. Additionally, the website domain registration information indicates that the Lightmarkets website domain was registered on January 26, 2021, over two years ago.
Account Registration:
While Lightmarkets' website provides a registration link for real accounts, this link appears to be non-functional and does not facilitate the registration of real accounts for investors. Furthermore, Lightmarkets' website does not provide a registration link for demo accounts for investors to learn and practice.
Account Types:
Lightmarkets offers five types of trading accounts: Bronze, Silver, Gold, Premium, and VIP/VIP+. These accounts differ significantly in terms of minimum deposit, trading platform, spreads, and related services. However, the website does not provide information on the differences in margin ratios for different account types.
Trading Products:
Lightmarkets provides trading services in forex, metals, grains, energy, stocks, and indices. However, the website does not offer information on the specific trading products within these categories, including key information such as margin ratios, commissions, and spreads for specific products.
Margin Ratios:
Lightmarkets does not provide information on the margin ratios for specific trading products in forex, commodities, stocks, and indices.
Trading Hours:
Lightmarkets does not offer information on the trading hours for specific trading products in forex, commodities, stocks, and indices.
Deposits and Withdrawals:
Lightmarkets' website does not provide information on supported deposit and withdrawal channels, supported currencies, fees, and the timeframes for deposits and withdrawals.
Trading Software:
Lightmarkets provides MetaTrader 4 (MT4) trading software for investors, including desktop versions (Windows/MacOS), a web version, and mobile versions (iOS/Android). However, the Android version of the MT4 software may face download and installation issues in certain countries or regions.
Additional Services:
Lightmarkets' website indicates that the company provides services such as an economic calendar and a trading dictionary. The economic calendar helps investors stay informed about past and upcoming economic data and risk events. The trading dictionary assists investors in learning terms or phrases related to finance, economics, trading, and analysis.
Risk Warning:
Lightmarkets' website states that the company does not provide services to citizens of the United States, the United Kingdom, Iran, Iraq, Syria, Afghanistan, and other countries or jurisdictions where it violates local laws or regulations.
Regulatory Information:
Lightmarkets' website indicates that the company is authorized or regulated by the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA). However, the SVGFSA does not regulate, monitor, supervise, or license Business Companies (BC) engaged in forex trading or brokerage business.
Conclusion:
Lightmarkets is suspected of fraudulent activity. Firstly, the Lightmarkets website shows that it is registered and established in Saint Vincent and the Grenadines, but searches on the SVGFSA and CIPO websites did not yield any registration information for the company. Secondly, while the Lightmarkets website claims to be authorized or regulated by the SVGFSA, the SVGFSA does not regulate Business Companies engaged in forex trading or brokerage business. Based on these findings, Lightmarkets is suspected of fraudulent activity, and investors are advised to exercise caution when considering the services offered by this company. TraderKnows reminds you to be vigilant about your financial security and avoid falling into fraudulent traps.
