Lockwood Review - Is Lockwoodinv.com Fraudulent?

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1%
scam

Lockwood's rating

Licenses: none
Headquarters: Bulgaria
Regulatory warnings: multiple warnings
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Lockwood Regulation and Trust

Lockwood is a forex brokerage based in Bulgaria. With a demo account, we see an online trading platform and a fluctuating spread of at least 6 pips, four times the industry average. Moreover, the leverage is up to 1:200.

The brokerage firm is owned and operated by SolutionsCM LTD, located in Bulgaria. Taking into account the location of the broker, we checked the electronic record of the Bulgarian Financial Supervisory Commission to see if the company is under the supervision of the relevant authorities. We can safely conclude that the name does not appear in the list of Regulated Entities which means that SolutionsCM LTD and Lockwood are operating illegally and are not authorized by any regulatory entity and therefore you cannot even be sure of their real location.

In general, the lack of licensing and various regulatory warnings about the company tends to suggest that potential clients of the company may be vulnerable to fraud and that's what we've come across.

Lockwood Deposit and Withdrawal Methods

Prospective clients of the brokerage may deposit or withdraw via a wide range of payment options – credit/debit card, bank and wire transfer, Webmoney, Visa and MasterCard. In the broker's terms and conditions, we could not find any mention of fees or withdrawal terms.

Lockwood Victims Communicate With Forex In Arabic

Although the company has been warned by a number of different organizational entities, it is making an effort to convince potential customers, one of the company’s victims, who was deceived in the amount of 23 thousand dollars, contacted us, but the wire transfers were, so it is now impossible to recover the money, but to you After the numbers and WhatsApp accounts that I contacted with him from the company to take care of them

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As mentioned above, scams are quite common in the trading world, and it is unfortunate that you may suffer from it. In such an unfortunate situation, there may still be some options available to you.

It is important to note that both Visa and MasterCard are taking measures to combat unregulated forex brokerage by classifying all forex transactions as high risk. Therefore, MasterCard increased the previous six-month time period to file a refund request by one and a half years. You can contact your bank or credit card provider and Request a refund for being scammed.

However, if you have provided the broker with your credit card details, immediatelyCancel your credit card.

If you have provided information on your Internet Banking Card - you must exchange it ASAP!

Beware of potential calls from “refund agencies,” they prey on traders desperate to recover their losses. They will need to pay you up front to “help” you, but after you pay them, such help will never come.

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