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.


What are the key facts about Lovacrypto?

First and foremost, the secrecy and opacity of the broker should be noted. The firm does not disclose when it was founded, does not specify its legal address, and ignores regulations. Also, the type of business model is not specified, i.e., how traders' orders are processed, but it is easy to guess about the dealing desk, meaning clients' trades are not sent to liquidity providers but are processed internally. Checking the domain and reviews on the internet showed that the platform is new, having launched quite recently. Licenses are missing, and the registration of the legal entity is questionable.

What's the risk to my wallet when working with this broker?

Such brokerage firms are illegal and fraudulent. Lovacrypto cannot guarantee the reliability and safety of client funds, so it is very dangerous to cooperate with them. At any moment your account can be blocked, and withdrawal of funds is not available, so it is not recommended to work with such companies. It is the main risk that is present here.

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