Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo forex licence anywhere; a St. Lucia company registration is presented as regulation while the firm took retail CFD deposits at up to 1:1000 leverage.
Identity & transparency
6/10 · HighA named entity is disclosed, but it switched from a St. Vincent LLC to a St. Lucia IBC on the same site, the 'regulated' wording is misleading, and the current site is a broken reconstruction with a dead portal.
Withdrawals & conduct
6/10 · HighCredible fund-integrity reports (accounts liquidated then withdrawals blocked, IB blocking contact) tied to this operation's email and Facebook, clustered 2020-2021, but concentrated on a single aggregator so not fully corroborated.
Reputation
6/10 · HighMultiple review sources classify LCM as unregulated and unsafe and note it has ceased operating; some negative material concerns a separate similarly named operation, which we discounted.
Website claims
6/10 · HighOverstates a company registration as regulation, shows unverifiable 'Best Broker in Asia' awards, and softened a former 'Regulated Broker' badge to 'Fast Execution Broker' while never holding a licence.
Operational history
5/10 · ModerateAbout five to six years of brand history (since roughly 2019 to 2020), which is mildly reassuring on age, but the operation now appears defunct and the current legal entity is only from 2023.
Who they are
A quick desk file on the company behind the brand.
- Brand: LCM / LCM FX ('London Currency Markets')
- Legal entity: LCM LTD (St. Lucia IBC, reg. 2023-00111); previously LCM LLC (St. Vincent and the Grenadines, reg. 174 LLC 2019)
- Registered: St. Lucia (offshore incorporation); operational contact at Maslak, Sarayer, Istanbul, Turkey (+90 212 271 00 68)
- Website: lcmfx.com (live but largely a static reconstruction); client portal secure.lcmtrade.com is offline
- Only 'licence': a St. Lucia company registration presented as regulation. Not a forex licence.
- Offers: forex, commodities, indices and stock CFDs on MetaTrader 5, leverage up to 1:1000, 'personal account manager', VPS
- Not accepted: residents of the United States, Canada, Japan, Turkey, Iran, Iraq, Lebanon, North Korea, Puerto Rico
- Age claim: no explicit founding year on the current site; the brand has operated since roughly 2019 to 2020
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Financial Services Regulatory Authority (FSRA), Saint Lucia
Found by our investigation (1) — the broker does not list these on its own site
Financial Services Authority (FSA), Saint Vincent and the Grenadines
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
We rate LCM high risk because it took retail deposits with no real regulation, its own claims are misleading, and clients reported losing their money.
- No genuine regulation. LCM holds no forex licence from any recognised authority. Its footer says it is 'registered by the Financial Services Regulatory Authority (FSRA)' of St. Lucia, but that is a company registration (IBC 2023-00111), not a trading licence, and St. Lucia does not license retail forex brokers. Presenting a registration as regulation is the core problem.
- Offshore shell that moved jurisdictions. In 2021 the same site named LCM LLC in St. Vincent (reg. 174 LLC 2019, 'Financial Services Authority'); today it names LCM LTD in St. Lucia. Same brand, same domain, same MetaTrader server (LCMLLC), weaker and weaker disclosure. The 2021 site badge said 'Regulated Broker'; the current one has quietly dropped that to 'Fast Execution Broker'.
- Fund-integrity complaints. Clients tied to this operation (the same [email protected] address and Facebook page shown on the live site) reported, during 2020 and 2021, accounts liquidated overnight, a 1,000 dollar deposit grown to 2,100 then blocked from withdrawal, a 15,000 dollar account 'burned' after which the introducing broker blocked their phone. These reports sit mainly on one third-party directory, so we treat the pattern as real but not fully corroborated across platforms.
- Appears to have ceased. The client portal (secure.lcmtrade.com and lcmtrade.com) no longer resolves and most site pages return errors, so you cannot actually register or deposit. Independent review sites also describe LCMFX as having stopped operating.
- The domain age is not operating history. lcmfx.com was re-registered in 2018, but archived copies show it hosted an unrelated Japanese blog until at least 2016 and only became this broker around 2020. So the operation is a few years old, not the fifteen-plus years the domain date might suggest.
We stop short of calling it a confirmed scam because the strongest victim evidence is concentrated on a single source and no financial regulator has published a warning naming this exact domain.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The broker's own homepage footer states 'LCM LTD. is incorporated in St. Lucia under registered number 2023-00111 by the Registrar of International Business Companies, registered by the Financial Services Regulatory Authority (FSRA).' This presents a company registration as financial regulation.
E2LCM offers retail forex and CFDs on MT5 with leverage up to 1:1000 and 'personal account managers' while holding no verifiable forex licence from any recognised regulator.
E3RDAP shows lcmfx.com was registered on 2018-08-18 via GoDaddy, on Cloudflare nameservers. Archived copies show the domain hosted an unrelated Japanese website as recently as 2016, so the domain's age is not this broker's operating history.
ModerateVerisign RDAP; Wayback MachineE4An April 2021 archived copy of lcmfx.com names 'LCM LLC ... registered number 174 LLC 2019 ... Financial Services Authority (FSA)' (a St. Vincent LLC) and badges itself 'Regulated Broker'. The current site names LCM LTD in St. Lucia and badges 'Fast Execution Broker'. Same brand, domain and MT5 server (LCMLLC): a re-domiciliation, not a severance.
E5Client reports tied to this operation (the [email protected] address and the Facebook page shown on the live site) describe, in 2020-2021, accounts liquidated overnight, a 1,000 dollar deposit grown to 2,100 then blocked from withdrawal, and a 15,000 dollar account 'burned' after which the introducing broker blocked the client's phone.
Moderatea third-party broker directoryE6The client login and deposit portal (secure.lcmtrade.com and lcmtrade.com) does not resolve, and most internal pages of lcmfx.com return errors, with the homepage served as a static reconstruction. The operation appears to have ceased taking deposits.
ModerateLive site and DNS checkE7Independent review coverage of the LCM FX brand classifies it as unregulated and unsafe and reports that it has ceased operating. This corroborates the lack of regulation and the wind-down, though some of this coverage concerns a separate similarly named operation.
ModerateBroker review sitesE8A separate, similarly named operation at lcm-fx.com (Lucror Ltd, St. Vincent, MetaTrader 4, linked to a New Zealand entity) exists and draws its own scam complaints. Its findings were NOT imported into this broker's assessment.
ModerateBroker review sitesE9LCM's own terms exclude residents of the United States, Canada, Japan, Turkey, Iran, Iraq, Lebanon, North Korea and Puerto Rico, consistent with an offshore operation avoiding regulated markets.
The other side
The strongest case in this broker’s favour.
In fairness to LCM, here is the most favourable reading.
- The company registration in St. Lucia (and earlier St. Vincent) does appear to be a real filing, so LCM is a disclosed entity rather than a faceless website.
- Some of the harshest 'scam' write-ups online actually target a separate, similarly named operation at lcm-fx.com run by Lucror Ltd. We did not charge those to LCM.
- The brand ran for several years and at least one user posted a positive, neutral review of the service.
- Offshore, low-tier registration is common in this industry and is not by itself proof of theft; many clients' losses in the reports followed leveraged trading, which can be a normal (if painful) trading outcome rather than fraud.
None of this changes the core facts: no real licence, misleading regulation wording, and a portal that no longer works.
What would change this
What we would need to see to revise the verdict.
Our view would move if any of the following turned up.
- Toward safer: a genuine, in-force licence for LCM from a recognised regulator (for example the FCA, ASIC or CySEC), verifiable on that regulator's own register under this entity and this domain.
- Toward safer: the client portal coming back online with a normal, working withdrawal process and documented client payouts.
- Toward worse: a regulator warning or alert naming lcmfx.com or LCM LTD / LCM LLC specifically.
- Toward worse: further first-hand withdrawal-refusal or 'pay a fee to release funds' reports on independent platforms clearly tied to lcmfx.com.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Frequently asked questions
Quick answers about this broker’s safety.
Is LCM (lcmfx.com) a scam?
We rate LCM high risk. It is an unregulated offshore broker that presents a St. Lucia company registration as if it were financial regulation, and clients reported blocked withdrawals in 2020 and 2021. Its deposit portal is now offline, so it appears to have wound down. We stop short of 'confirmed scam' only because the strongest victim reports sit on a single source.
Is LCM regulated?
No. LCM holds no forex trading licence from any recognised regulator. Its footer cites a St. Lucia company registration (IBC 2023-00111), and earlier a St. Vincent LLC. Neither is a licence to run a retail brokerage, and neither offers client protection.
Can I withdraw my money from LCM?
Reported experience is poor. Several clients said their accounts were wiped out and then withdrawals were blocked. The client portal (secure.lcmtrade.com) no longer works, which makes recovering funds harder. Request withdrawals in writing and keep evidence.
Is my money safe with LCM?
No. With no real regulator and no compensation scheme, there is nothing standing behind client deposits. Offshore registration in St. Lucia or St. Vincent gives you no meaningful protection if funds go missing.
Who owns and runs LCM?
The site names LCM LTD, a St. Lucia International Business Company (reg. 2023-00111). Until around 2023 the same site named LCM LLC in St. Vincent and the Grenadines (reg. 174 LLC 2019). The operational contact address is in Istanbul, Turkey.
How old is LCM?
The brand has operated since roughly 2019 to 2020. The lcmfx.com domain dates to 2018 on paper, but archived copies show it hosted an unrelated Japanese website until about 2016, so the domain age is not the operation's real track record.
What is the St. Lucia FSRA 'registration' worth?
Very little for a trader. It is a company registration with a registrar, not a forex licence, and St. Lucia does not license or supervise retail forex brokers. Presenting it as regulation is misleading.
Is LCM a clone of a regulated firm?
We found no evidence that LCM copies a specific regulated firm's licence number or identity, so we do not classify it as a clone. It uses a 'London' style name while being incorporated offshore, which can create a false impression of UK regulation.
Is lcmfx.com the same as lcm-fx.com?
No. lcm-fx.com is a separate, similarly named operation linked to Lucror Ltd (St. Vincent) that draws its own scam complaints. We did not attribute those complaints to lcmfx.com, though both are unregulated and unsafe.
The LCM website still loads. Is it operating?
The marketing homepage loads, but it is largely a static reconstruction: most internal pages return errors and the login and deposit portal does not resolve. In practice you cannot open or fund an account, and reviewers report the broker has ceased operating.
What should I do if I was scammed by LCM?
Stop depositing, request a full withdrawal in writing, and never pay a 'tax' or 'fee' to release funds. Contact your bank or card issuer about a chargeback, and report the loss to your national financial regulator or police. Ignore anyone offering paid 'fund recovery'.
What should I check before depositing with any broker?
Confirm a real licence on the regulator's own register (FCA, ASIC, CySEC and similar), match the exact website and company name to that entry, read independent withdrawal reviews, and avoid brokers offering very high leverage, bonuses and pushy 'account managers'.
What we recommend
The practical takeaway from everything above.
Treat LCM as an unregulated, apparently dormant broker and do not deposit.
- Do not send money. There is no licence and no compensation scheme behind this operation, and the deposit portal is offline.
- If you already have funds with LCM, request a full withdrawal in writing and keep records; do not pay any 'tax', 'fee' or 'top-up' demanded as a condition of releasing your money.
- Report any loss to your card issuer or bank (for possible chargeback) and to the financial regulator or police in your own country.
- Be wary of anyone who contacts you offering to 'recover' LCM losses for an upfront fee. That is a common follow-up scam.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 24, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.