Introduction
If you’re thinking of trading forex with LegoMarket.co, you may be wondering if it’s a legit broker or a scam. In this blog post, we’ll take a look at the broker and what they have to offer, as well as some of the potential risks involved in trading with them.
What is LegoMarket?
When it comes to online trading, there are a lot of different options available. One option that has become increasingly popular in recent years is forex trading. Forex trading is a way for investors to trade currencies in the foreign exchange market.
The foreign exchange market is the largest and most liquid market in the world. It is made up of a network of banks, financial institutions, and individual investors who trade currencies. The main purpose of the forex market is to facilitate international trade and investment.
LegoMarket is an online broker that offers forex trading services to its clients. The company is based in Estonia and was founded in 2016. LegoMarket provides its clients with access to the global forex markets through its online platform.
The company offers a variety of different account types, including standard, premium, and VIP accounts. Standard accounts have a minimum deposit of $250 and allow for leverage of up to 1:500. Premium accounts have a minimum deposit of $5,000 and allow for leverage of up to 1:200. VIP accounts have a minimum deposit of $50,000 and allow for leverage of up to 1:100.
In addition to forex trading, LegoMarket also offers CFD trading on a variety of assets, including commodities, indices, stocks, and cryptocurrencies. CFD stands for contract for difference, and it is a type of derivative instrument that allows traders to speculate on the price movement of an underlying asset without actually owning
The types of accounts offered by LegoMarket
There are three types of accounts offered by LegoMarket. Standard, ECN Zero and VIP account. The main differences between these account types are the minimum deposit requirements, spreads and leverage.
The Standard account is the most basic account type offered by LegoMarket. It requires a minimum deposit of $250 and has a maximum leverage of 1:200. Spreads on this account start at 3 pips.
The ECN Zero account is more advanced than the Standard account. It requires a minimum deposit of $1000 and has a maximum leverage of 1:100. Spreads on this account start at 0 pips.
The VIP account is the most advanced and exclusive account type offered by LegoMarket. It requires a minimum deposit of $5000 and has a maximum leverage of 1:50. Spreads on this account start at 0 pips.
The deposit and withdrawal methods of LegoMarket
When it comes to funding your account or withdrawing profits, LegoMarket.co offers a variety of methods to suit your needs. You can deposit and withdraw using major credit cards, bank wire transfer, or e-wallets like PayPal and Skrill. The minimum deposit is $100, and there are no fees for deposits or withdrawals. Withdrawals are processed within 24 hours, which is fairly standard for the industry.
One thing to note is that LegoMarket.co does not accept US clients, so if you’re based in the US, you’ll need to look elsewhere for a forex broker. Overall, though, the deposit and withdrawal process is quick and easy with this broker.
The fees and charges of LegoMarket
The fees and charges of LegoMarket depend on the type of account that you open with them. There are three types of accounts available: Standard, Silver, and Gold. The Standard account has a minimum deposit of $250, and the Silver and Gold accounts have minimum deposits of $1,000 and $5,000 respectively. The fees for each account type are as follows:
Standard Account:
– Spreads from 3 pips
– No commission
– Leverage up to 1:200
Silver Account:
– Spreads from 2 pips
– No commission
– Leverage up to 1:400
Gold Account:
– Spreads from 1 pip
– Commission of $4 per lot round turn ($2 per lot for mini lots)
– Leverage up to 1:500
The customer support of LegoMarket
If you’re looking for a broker that offers great customer support, you’ll want to check out LegoMarket. This broker offers 24/7 customer support through live chat, email, and phone. You can also find a lot of helpful information on their website, including FAQs, tutorials, and more.
LegoMarket is a reliable broker that you can trust. They are regulated by the Financial Conduct Authority (FCA) in the UK and offer a variety of deposit and withdrawal methods. They also have a low minimum deposit requirement of just $100.
The safety and security of LegoMarket
At LegoMarket, we take the safety and security of our clients’ funds very seriously. We have implemented a number of measures to ensure that your money is safe with us.
First and foremost, we maintain strict segregation of client funds. This means that your money is kept in separate accounts from our own company funds. In the unlikely event that anything were to happen to LegoMarket, your money would be protected and you would still be able to withdraw it.
We also use state-of-the-art security technologies to protect our platform and your account information. Our website is secured with SSL encryption, and all sensitive data is stored on secure servers. We also have a comprehensive risk management system in place to protect against any potential losses.
LegoMarket is a regulated broker by the Cyprus Securities and Exchange Commission (CySEC), which means we are held to strict financial standards and requirements. This provides an additional layer of protection for our clients’ funds.
In short, you can rest assured that your money is safe with us at LegoMarket.co.
Is LegoMarket a legit or scam forex broker?
When it comes to online investing, there is a lot of speculation as to whether or not certain brokers are legitimate. One such broker is LegoMarket. In this article, we will take a look at whether or not LegoMarket is a legit or scam forex broker.
To start off, we will take a look at the website itself. The website looks professional and has all of the necessary information that you would expect from a legitimate broker. However, there are some red flags that we noticed. For one, the website is registered in Bulgaria, which is not typically considered to be a reputable jurisdiction for forex brokers. Additionally, the contact information on the website is very limited, with only an email address provided.
Next, we will take a look at the trading platform offered by LegoMarket. The platform appears to be very user-friendly and offers all of the features that you would expect from a legitimate broker. However, there are some concerns about the safety of funds deposited with LegoMarket. Specifically, the broker does not appear to be regulated by any major financial regulator, which could mean that your funds are not protected in the event that something goes wrong with the company.
Finally, we will take a look at customer reviews of LegoMarket. Unfortunately, there are not many reviews available and the ones that are available are mostly negative. Complaints include issues with withdrawals and customer service.
Based on our research, it appears that LegoMarket may not be a
Conclusion
It is difficult to definitively say whether or not LegoMarket.co is a legit or scam forex broker without further investigation. However, there are several red flags that indicate it may not be a reliable broker. Firstly, the website does not provide any information about the company behind the brokerage. Secondly, the contact information for customer support is very limited. Finally, the terms and conditions of the website are extremely unfavorable for customers, especially in regards to withdrawals. Overall, it seems like LegoMarket.co may not be a safe choice for investing in forex trading.