Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms. Raids revealed that the forex trading app routed investor funds through mule accounts into escrow accounts of unauthorised payment aggregator Dinero Payment Services. Additionally, shell companies posing as e-commerce platforms were taken aboard using fake KYCs to access payment gateways and avoid detection. Investor funds were disguised as online purchases, layered through multiple accounts, and ultimately disbursed as fake forex or betting payouts to conceal their origin. Investigators found that LunarCapitalFX routed investor funds through mule accounts into escrow accounts maintained by an unauthorized payment aggregator, Dinero Payment Services. To evade regulatory checks, the company allegedly onboarded shell firms posing as e-commerce platforms using fake KYC documents.

Contacting Customer Support

Overall, LunarCapitalFX’s copy trading feature is a game-changer for the forex trading industry. With its ease of use and accessibility, anyone can now participate in the exciting world of forex trading. Mobile trading apps make it even easier to access markets and potentially earn significant profits.

The phone support team successfully resolved our questions and issues over the phone. Brokers like LunarCapitalFX must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances. LunarCapitalFX clients can have greater confidence in their financial security when working with a Tier 1 bank because LunarCapitalFX are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status. LunarCapitalFX are able to accommodate various levels of traders whether you are experienced or a beginner. We understand that informed decisions with LunarCapitalFX are the key to successful trading, so we’ve provided this detailed LunarCapitalFX review.

Forex Fraud Certified Brokers

MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere. Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients. In the trading world, brokers like LunarCapitalFX, have different minimum deposit requirements based on the target audience they are trying to attract.

These comprise video tutorials, forex education, glossary and frequently asked questions. Incorporated in 2011, the CFD broker comes under the stringent regulations of the Cyprus Securities and Exchange Commission (CySEC) in Europe. To expand its services to include international clients, LunarCapital Markets Inc has included a registered office in St. Vincent and the Grenadines. In line with the expansion of services, LunarCapitalFX as the main brand was previously known has now rebranded into LunarCapital as of September 2023, embarking on the next step by streamlining corporate branding. As part of its money laundering investigation against LunarCapitalFX, ED recorded the statements of TV actors Krystle Dsouza and Karan Wahi in July in connection with their alleged promotion of the platform. Additionally, these transactions disguised as being carried out for e-commerce websites allowed app promoters to prepare contingency plans in case users sought their money back.

LunarCapitalFX offers many services for traders of all experience levels. Many users recognize it for its easy-to-use platforms and good trading conditions. Through this LunarCapitalFX review 2024 we’ll have a look at major points to be covered about the broker, Is LunarCapitalFX a scam or legit?

Is LunarCapitalFX A Scam Broker? Everything You Need To Know About LunarCapitalFX In Malaysia

If you ever have more feedback, questions, or need assistance, don’t hesitate to reach out via our social media channels or LiveChat. However, when it comes to Forex trading itself, it’s extremely important to acquire sufficient knowledge of the financial markets and use risk management techniques when trading. Without that, you are facing great risks of losing your money with any broker you choose to trade with. So ensure you are fully prepared before depositing your funds and starting investing or trading in the financial domain. The ED’s investigation, initiated following a December 2021 FIR by Shivaji Nagar Police Station in Pune, alleged that LunarCapitalFx misled investors with promises of high returns through forex trading.

LunarCapitalFX won the best Islamic forex account awarded by world fiance in the year 2020 and the broker has been improving ever since. You do not need to pay interest-based or any other charges when you trade with the https://lunarcapital.vip/ Islamic account with LunarCapitalFX. Since the rules are set for a reason, the purpose of the rules within the forex market regulations is to protect against the risk of a complete loss of capital. Also protection to the investor against fraud and untrusted brokers.

LunarCapitalFX MetaTrader 4 Advanced Trading Tools

Meanwhile, experienced traders can use the platform to share their knowledge and expertise with others while earning additional income. LunarCapitalFX primarily operates with a commission-free model on its standard accounts. Instead, the broker relies on spreads to generate revenue, which is a favorable option for many traders. This offers great value for high-frequency traders and scalpers. Both account types offered by LunarCapitalFX cater to different trading preferences and goals.

LunarCapitalFX is a Multi-Assets Trading Platform with over 300+ Assets

• The broker used to be regulated by one of the best regulators yet they lost it and now their regulation is under review.
• Since scams and fraud are quite the issue in the forex market, I thought it would only make sense to make the first and foremost important section of this LunarCapitalfx review discuss the regulation and safety of funds.
• It is important to be aware of the potential for loss and to only invest what you can afford to lose.
• Investor funds were disguised as online purchases, layered through multiple accounts, and ultimately disbursed as fake forex or betting payouts to conceal their origin.

Dive into our informative LunarCapitalFX Vs pages below to find out how LunarCapitalFX stacks up against other leading brokers. It is important to note that LunarCapitalFX may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the LunarCapitalFX platform and features immediately.

• The trades were reported accurately in the site’s Portfolio section, and closing them out was a similarly hassle-free process.
• Further, the money trail was hidden by using fake KYC and payment gateways of shell companies posing as fake e-commerce companies, with transactions being shown under the guise of online shopping, refund, vendor payment and chargeback.
• Its features were designed to facilitate the investing procedure for trades which include algorithmic trading, technical indicators, and expert advisors.

Dear Ekundayo Mathew Monday,Thank you for your kind words and for sharing your experience with us. We’re delighted that you consider LunarCapital your favorite forex broker and find our services reliable, which is precisely LunarCapital company reviews what we strive for with every trader. It’s also great to know that you feel supported when reaching out to us.

However, you must pass the verification process to start live trading with LunarCapitalFX, which can take up to a few business days. However, remember that you won’t be able to make trades on LunarCapitalFX until you have passed compliance, which may take several days, depending on your circumstances. It’s essential to complete the LunarCapitalFX KYC compliance process as soon as possible to avoid any delays in accessing the LunarCapitalFX platform’s features.

It’s crucial to do your due diligence and research the reputation, track record and trust worthyness of LunarCapitalFX. You must also ensure the LunarCapitalFX broker’s profile, trading tools, fees and regulation aligns with your needs and goals. It was also discovered that nearly 50 per cent of user funds were diverted from the LunarCapitalFX platform to mule payout accounts. These accounts were used to disburse money under the false pretence of e-commerce refunds, chargebacks, vendor payments, and so on, effectively concealing the actual flow and purpose of the funds. LunarCapitalFX helps its clients by removing commissions and hidden fees.

So, even if Forex brokers could get licensed in Malaysia, they may not hurry to do so because it could severely worsen the trading conditions they provide and lose the competition to international brokers. There’s no denying that many of the influencers advertising LunarCapitalFX have either no experience trading forex or are most likely unsuccessful traders. Since LunarCapitalFX ads are directed at forex beginners, many people would start trading forex for the first time with LunarCapitalFX as their broker if their marketing was successful. What further he mentions is LunarCapitalFX being such a big brand caught him off guard.

Email Support at LunarCapitalFX

Whatever you are looking to trade, the varying LunarCapitalFX account types will be able to provide you with what you need. LunarCapitalFX Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for LunarCapitalFX traders of all experience levels.

So take the time to research LunarCapitalFX thoroughly and make the most of your online investing experience. Online investing with LunarCapitalFX can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial.If considering trading financial assets with LunarCapitalFX, evaluating the LunarCapitalFX platform is important.

More in-depth issues can be addressed by sending the broker an email. We found that the questions we asked via this method were fully addressed within 24 hours. The Mumbai ED filed a prosecution complaint against LunarCapitalFx, under the Prevention of Money Laundering Act (PMLA) Act. This followed an investigation based on an FIR registered on December 8, 2021, by Shivaji Nagar police station, Pune, against multiple individuals involved with the firm. The ED has also estimated that celebrities roped in by the owners of LunarCapitalFx have corroborated the transfer of funds through Estonia and British Virgin Islands (BVI) based entities for promotional purposes. These were created to explain the inflow and outflow of funds in case banks grow suspicious of the nature of the transaction,” said an ED official.