FxGecko advises investment enthusiasts that choosing a platform regulated by a reliable regulatory authority is crucial. It is essential to understand the platform's background, research the trading conditions offered, trading software, and customer service.
Before choosing a forex platform for investment, it is crucial to conduct thorough research and investigation in order to ensure investment safety and enhance trading experience.
Recently, investors have lodged complaints through the FxGecko APP about the inability to withdraw funds from the TYG platform under LMAX.
The complainant revealed, "Under the name of GEFX Corporation, acting as a representative of LMAX, TYG platform is unable to process withdrawals. Wang Qiang, the legal representative of GEFX Corporation, refuses to release funds and LMAX allows such white-label platforms. Is this how LMAX provides white-label services?"
LMAX official website introduction:
LMAXGroup is a global financial technology company and a leading independent operator of multiple institutional execution venues for foreign exchange and cryptocurrency transactions. The group has offices in 9 countries and a global customer base, building and operating its own high-performance, ultra-low latency switching infrastructure, including matching engines in London, New York, and Tokyo.
LMAX Group has a strong influence in all major foreign exchange markets worldwide, including Europe, North America, and the Asia Pacific region.
Our rapidly expanding global institutional and professional customer base proves our unique business model, providing efficient market structure and transparent, precise, and consistent execution for all market participants.
According to the information displayed on the FxGecko APP, LMAX holds regulatory licenses from five authorities. However, the regulatory status of the Securities and Futures Commission (SFC) in Hong Kong shows as revoked. The Financial Markets Authority (FMA) in New Zealand and the Cyprus Securities and Exchange Commission (CySEC) indicate an over-the-limit operating status.
FxGecko risk alert: LMAX has 30 internal risk factors, 2 associated risks, and 40 monitoring alerts. Please take early precautions.
LMAX has a rating of 7.4 on the FxGecko APP. Despite the high rating, investors are advised to choose cautiously because a high rating on FxGecko does not necessarily indicate that the platform is without issues.
