LBLV is an offshore forex broker. According to the brokers’ website, lblv.com, LBLV is owned and operated by LBLV Ltd. The company alleges that based in Seychelles. Their website supports English, Russian, and Brazilian languages only.
After a brief introduction, let’s take a look at what we are going to talk about in this review.
In this LBLV review, you will find the answers to some questions. Exemplarily: Is LBLV scam or legit forex broker? What are the account types, spreads, and maximum leverage? What is the amount of LBLV minimum deposit? Is LBLV regulated? For more, keep reading!


Regulation of LBLV

LBLV is a brand name of LBLV Ltd and the company is registered on Seychelles. Seychelles is a famous offshore zone. There are many brokers who are registered there. LBLV claims to be fully regulated under FSA Seychelles, license No. 8419623-2.
Although the broker has a license from FSA, this license gives a loose regulation. Forex brokers who have FSA license not supervised by any governmental agency. That’s why they don’t need to meet any requirements and provide investor protection.
But reputable financial regulators like the Financial Conduct Authority (FCA) in the UK, or the Australian Securities and Investments Commission (ASIC) in Australia covers your financial funds by some strict rules.
For example, brokers must maintain £730,000 in their bank accounts as minimum net capital as a criterion of the FCA. However, there is also a compensation scheme for FCA-regulated broker’s clients.
The scheme that I talked about is the Financial Services Compensation Scheme (FSCS). The FSCS covers the client’s funds up to a maximum of £50,000. This is a crucial feature for your money’s safety.

LBLV deposit/withdrawal methods and fees                     

LBLV accepts payments in various ways, including major credit or debit cards like VISA and MasterCard, e-wallets like Neteller, Skrill, QIWI Wallet, UnionPay, WebMoney and Yandex and bank wire. The minimum deposit requirement ranges between 5000 USD, for the basic Rookie Account, which in our view is excessive, and 1 million USD with the VIP Account, which is simply absurd.

On top of that we came across some rather unusual clauses in LBLV Terms and Conditions. For example the broker reserves the right to “impose a limit on the withdrawal request, and can also put a limit on the withdrawal per account”.
Also the company says they “ imply several fees for processing the Client’s withdrawals along with transaction fees”, that can be changed whenever the broker decides. All that is highly unusual. Besides, the amount of those processing and transaction fees is not mentioned on LBLV website.
Finally, beware of any trading bonuses LBLV might offer you as they are linked to a minimum trade volume requirement, which will prevent you form withdrawing your finds, unless you have fulfilled it. Unfortunately, we are not told what that minimum trade volume requirement is as well.

Account Types & Spreads

There are various account types on LBLV. These are Rookie, Basic, Premier, Elite, and VIP. If we examine the account types in detail; Rookie account’s minimum deposit is 5,000 USD and spreads are floating.
The minimum deposit for the Basic account is 25,000 USD and spreads are also floating. Premier account has 50,000 USD minimum deposit. The elite account has 100,000 USD minimum deposit. If you are ready, I will explain the minimum deposit of the last account type that will shock you.
For VIP account the minimum deposit is 1M USD. No! You did not read wrong. It is ridiculously $1,000,000.  I don’t think anybody with $ 1 million will open the broker’s VIP account. Anyway, let’s continue the review.

Trading Platforms

I know you are still thinking about the one million American Dollars. You’re right, but I have to talk about platforms in this episode, so let’s forget about that for now.
LBLV offers its clients MetaTrader 5 trading platform. This platform is the new version of the MetaTrader 4. This is one of the rare advantages of the broker.
MT5 is also a very popular platform, although not as much as MT4. It includes advanced chart tools, technical analysis, indicators, as well as enabling the use of automated trading systems and also signal trading systems.

Trading ınstruments

LBLV offers a wide range of CFDs for trade, including on indices, commodities, precious metals and stocks. You can trade major, minor and exotic currency pairs on the MT5 trading platform.
LBLV allows you to buy and sell the most popular and valuable precious metals such as Gold, Silver, Platinum, Copper, and Palladium.

Funding Options

LBLV offers various funding options for its clients to activate and fund their trading account. You can deposit and withdrawal by using the credit card, bank wire transfer, e-wallets such as Skrill, Qiwi Wallet, Union Pay, Neteller, WebMoney, Yandex money, and moneta.ru
As an offshore Forex broker, it offers quite a lot of payment methods. This is another advantage for the broker.

How does the scam work?

Scam brokers usually try to hook you with a promise of easy and risk free money and for that purpose there are specially designed robo scam web sites like Crypto Revolt and Bitcoin Evolution. If you come across one of those sites, you will probably watch a nicely cut video add, about how you can get instantly rich by just registering with some innovative trading platform. And if you do register, leaving your e-mail and phone, you will be instantly transferred to the web page of a unregulated, offshore broker, where you will be invited to deposit about 250 USD.

And if you do invest those money and start trading, be sure that your first trades will be amazingly successful. The reason for that, however, will be rather simple – scammers will manipulate your account so that they can more easily convince you to invest more. And surely you will get a phone call as well. It will be from your “senior account manager”, who will professionally explain, that if you want to make some real money you will simply have to invest more – like 10 000 USD.
Chances are that you will be tempted to invest those money as well and actually you will not know that you have been scammed until the moment you decide to withdraw some of your funds. It will turn out you do not have the right to withdraw, because you have not fulfilled some minimum trade volume requirement, possibly linked to the trading bonus you have so carelessly accepted. Of course it could be something else, but the bottom line will be the same – you will not get a single penny back.