An unknown broker, Lovacrypto, promises to provide the best conditions for trading in the financial markets using a modern platform. However, the firm apparently forgot that it needs to be transparent and open, as the legal address, founding date, and licenses are not mentioned on its official website. Can such a secretive company be trusted with money? Moreover, there are almost no reviews on the internet, yet the platform boasts hundreds of thousands of clients. This is somewhat hard to believe. Also, you can see three awards received by the organization in 2017-2019, but there is no proof.
How to Trade
Lovacrypto is a CFD broker, so it should be noted that here you can only trade this type of financial instrument. Clients have access to forex, metals, indices, commodities, cryptocurrencies, and stocks.
Lovacrypto offers a total of 6 types of accounts. If a trader wishes to receive more services and more favorable conditions, they need to activate a more expensive type of account. Default spreads start from 2 points, and there is zero commission for all users. Additionally, a leverage of 1:200 is available, along with webinars, trading sessions, signals, daily news, and other additional services.
Inexperienced users can first try on a demo account, where trading is conducted with virtual funds, not real ones. Thanks to the demo, you can study the functionality of the Lovacrypto trading platform. According to the official website, the terminal is available not only as a WebTrader but also as a desktop and mobile trader.
Lovacrypto Vital Info
The site has a section dedicated to the company’s activities. However, there is no useful information there. It is unknown when the firm began operating. Judging by the low number of reviews on the internet, Lovacrypto is a young platform that launched quite recently. It is also confirmed by the domain of the official website, namely its registration date of November 20, 2023. The last time it was updated was January 9, 2024.
The legal address is hidden, although this should not be the case. Also, nothing is said about regulation, so it is easy to assume that there are no licenses. We can’t even check the registries for Lovacrypto, as it is unknown in which jurisdiction the company is registered.
I can't even register with them. I enter my email, phone number, country, and password. And then nothing happens. Is this some kind of joke? The system just gives an error that can't be fixed. I don't even know what can be done in such a situation. Probably, it's even better that you can't create an account in Lovacrypto. After this, I asked for advice from an acquaintance, an experienced trader. And he advised me not to cooperate with such a firm, as it is extremely dangerous. There is a high probability that it will turn out to be a scam.
I've been trading for only the second day, but I already want to finish, although I plan to complete up to 5 working sessions to fully make a conclusion. At the moment, I can say more negative words about the broker than positive. The trading terminal is very primitive, not many functions, and many professional options, such as auto trading, are completely absent. In addition, there are questions about the quality of order execution, as I often had to wait for the order to be executed. To this should be added high spreads and commissions, which absolutely do not look low and profitable. Most of the profit goes to these commissions and spreads.
I couldn't reach the managers. It's as if no one works here, and I trade on some platform that provides itself with vitality. So the service is at a very low level. So I can't recommend Lovacrypto to anyone. Although I will trade for a few more days, I don't think the situation will improve for the better.
Don't give them any more money. They are big time scammers!!!!!
Don’t want to lose money? Do not invest them in LovaCrypto. Truly, it is a scam organization with fake activities. If you didn’t know, such a firm does not exist because there is no legal entity. Before you is an ordinary fraudulent site where they extort money from you.
Want a joke about lovacrypto? Their email is fake😂 Do you really want to trust a scam with a fake email? Moreover, the fraudsters decided not to indicate the legal address and other important information.
My relationship with the broker Lovacrypto is terrible. It turned out to be a fraudulent site, and I didn't know about it when I opened a brokerage account and then transferred money. It was supposed to be a safe place for forex trading, but I was wrong. I was only lucky in one thing – I topped up the balance with $250, as I decided not to risk and not invest a large amount right away, although I planned to invest at least $3,000. In fact, it turned out to be a fake platform that does not have real trades, only fake ones. The charts here are drawn, so you will not be able to trade successfully. The company has a "dealing desk" business model, meaning it will earn every time traders lose.
So, I partially lost my deposit here, and I'm trying to withdraw the rest, but these scammers don't allow it. The scambroker just ignores me, and nothing is happening with the withdrawal of funds. I understand that the chances are zero for a positive outcome, but maybe some miracle will happen in the world, and these fraudsters will let me withdraw part of my remaining money.
What bad people... they don’t withdraw money... they don’t respond to messages... they don’t even give hope for a favorable resolution of the problem... nothing to comment on... stay away from scammers…
I try to avoid companies that operate as secretly as possible. For example, Lovacrypto behaves very suspiciously. Firstly, the legal address is not indicated on the site, nor is the jurisdiction where their legal entity is registered. Do they even have a legal entity? Maybe it's just a site where they extort and steal money from traders? Secondly, the same can be said about the license, which is absent. Although everyone knows that a brokerage firm is obliged to obtain permission to operate, otherwise it is considered illegal. Thirdly, the foundation date is also forgotten. I didn't find it on the lovacrypto.com site either. Although this is a usual fact of any organization's activity, which is always indicated.
So, it is not worth risking for the sake of the unknown. Do you need a broker for CFD trading? On the internet, you can find ten verified companies that have long been registered, can prove it, and have regulation from many financial commissions. And they do not operate as secretly and suspiciously as this pseudo-firm.
I am always amazed at people who believe such fraudsters and give them all their money. Lovacrypto is illegal, it lacks a license, while it hides office addresses, and contact information is fake. No one knows about the scam because there are almost no mentions on the internet. How can someone come up with such madness as investing money in a fake platform? A blatant fraud!
Perhaps Lovacrypto themselves are looking for victims, and then they thoroughly process them so that they are ready to give all their money. I don't know, but it very much looks like it. Or people are deceived in some other way. If you know, write it, so that others are also aware of such a fraudulent scheme.
There are too few reviews on the internet. I don't see that LOVACRYPTO is widely discussed, which means the firm is not well-known and not popular. Is this good or bad? Obviously, the latter. After all, you invest your money in a company to use it in trading. And the more people do this, the more they trust them, and the higher the trust accordingly. I might be wrong, but it's better not to risk and not transfer funds here. Otherwise, you might encounter a fraud problem in the future.
Let the fraudsters first disclose their legal address so that the existence of lova crypto can be verified, and only then can their scam be further considered. Also, let them obtain regulation, as it is somewhat unprofessional without it. Without a legal address and license, it will just be an empty scam and a dirty dump, deserving only negative reviews. I hope that no one has invested a deposit here.
This company is a big scam. I am on a mission now to spread the word. They have completely ghosted me since I asked for my. money back. Don't fall for it. The website and managers all seem legit but they are not. I have reported them now to some Departments in the UK and Australia and and now working with Canada to ban their website here