Is LCM a scam?
Wikilix independent safety report
LCM (lcmfx.com) is an unlicensed offshore broker that we rate high risk, and its deposit portal is now offline. LCM trades as 'London Currency Markets' but holds no forex licence anywhere, and it pre…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Broker Summary
Summary of the broker
Introduction & Overview
LCM is a trading broker and financial services provider with an online platform that enables individuals or organisations to take part in different types of Financial markets. Although there isn’t a lot of publicly accessible detail regarding LCM, what we do know is included below; therefore this will serve as our guide when explaining what to consider when using this broker.
It is important that traders understand how a broker operates, the relevant regulations it falls under, its trading conditions, and finally, its user experience when using their platform. Therefore, this article provides a structured explanation of all these areas coupled with information on what "LCM" means within the Financial Services Sector.
The Background/History Of LCM is limited due to the lack of publicly-available information. LCM operates as a trading broker in the Financial Services industry, focusing on offering its customers the ability to trade on a wide variety of markets. Without publicly available historical/later records or reports regarding LCM's founding date or growth over time and leadership, it has been challenging to establish these characteristics.
Even with limited information, LCM's presence within the Trading Industry indicates its commitment to providing traders with the ability to access the markets. However, there is limited information available about LCM's history, including how it has grown and developed over time.
LCM has a number of key features, including the ability to trade on a wide range of Financial Instruments. However, as there are no specific details about the products offered by brokers in this category, typically brokers in this category offer access to Forex, Commodities, Indices and likely Cryptocurrency Trading.Limited details are provided to the public by LCM concerning its various trading accounts and trading platforms, therefore making it difficult for traders to precisely evaluate whether LCM provides suitable trading options for them.
A broker's regulatory compliance serves as an indicator of how reliable and safe a broker is; however, without more evidence of being licensed and compliant with regulations, it is impossible to determine if LCM would be a wise choice as a trader. Security and protection from regulators and regulatory bodies is paramount among traders, and none of the public resources currently available outline any evidence regarding LCM's protection from regulatory agencies.
In order to understand how compliant LCM is with their regulations, we have provided below a summary chart of information provided by the respective regulatory body(s).
*Regulator Licence No. Status
*Not Available Not Available
*Not Available Not Available
*Not Available Not Available
Very limited publicised information exists regarding Spreads, Leverage, and Minimum Deposits; therefore, for any trader, the absence of this information creates a serious obstacle for them when determining which broker to work with. Brokers typically provide varying amounts of Leverage and competitive spread prices to attract various segments of the trader market.
LCM has not disclosed any publicly available data concerning which Trading Platforms it offers and whether it currently has Proprietary Software for its clients. The Trading Platform used by LCM influences many areas, such as a trader's speed of execution, the ease of potential misuse of their Trade System, and a trader's overall user experience.
The limiting amount of publicly available data demonstrates in the following chart the current knowledge and availability concerning all trading conditions available with LCM.
Lowered Fee Type Fee Structure
Deposit Fees: Limited public knowledge about deposits
Withdrawal Fees: Limited public knowledge about withdrawals
Commission Fees: Limited public knowledge about commissions
conclusion
LCM has yet to provide enough public available data necessary for traders to fully assess their offerings, and as such, traders should be cautious in any future interactions with LCM. The lack of public data demonstrating transparency and compliance means that traders have to conduct a significant amount of research in order to determine whether it is appropriate for them to deposit or withdraw funds with LCM. The current knowledge from this article is meant to provide a basis for understanding LCM to anyone interested.
Regulatory Licenses
Compliance & oversight
Trading with an unregulated broker puts your deposit at risk.
No regulation
We have not confirmed any regulation for LCM. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
- No compensation scheme covers your funds.
- No regulator to escalate a complaint to.
- No audit of how client money is held.
Account Types
Trading account options
StandardStandardLeverage 1:1000 • Commission Zero commission
ZeroECNLeverage 1:1000 • Commission $10 per round lot
Spread onlyStandardLeverage 1:1000 • Commission Zero commission
VIPVIPLeverage 1:1000 • Commission Zero commission
Funding Methods
Deposit & withdrawal options
Bank TransferFree Deposit
Credit/Debit Card (Visa/MasterCard)Free DepositInstant
SkrillFree DepositInstant
BitcoinFree DepositInstant
Trading Platforms
Professional trading tools
Social Presence
Digital community engagement
Corporate Network
Enterprise structure & relationships
LCM LLC
Registration
19038539
Established
2019-03-13
Company Registration
Legal entity checked against the official company registry
Legal entity
LCM LTD
Registration number
2023-00111
Jurisdiction
Saint Lucia
Registry
Registrar of International Business Companies (Saint Lucia)
From our latest investigation · Verified Aug 24, 2026


Comments
Share your thoughts and experiences with LCM