Score
Lovo Trade
Montenegro|2-5 years| https://lovotrade.com/
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Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Contact number
+382 68 517834
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Lovo Trade LLC
Lovo Trade
Montenegro
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
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| Minimum Deposit | $1000 |
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| Minimum Deposit | $500 |
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| Minimum Deposit | $200 |
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Lovo Trade · Company Summary
| Lovo Trade Review Summary in 7 Points | |
| Registered Country/Region | Saint Lucia |
| Regulation | Unregulated |
| Market Instruments | Spot Metals, Indices, Spot Commodities, Cryptocurrencies, US Stocks, EU Stocks |
| Demo Account | Available |
| Minimum Deposit | $200 |
| Trading Platforms | Lovo Trade |
| Customer Support | Phone, email, address, contact us form |
What is Lovo Trade？
Lovo Trade, an international brokerage firm headquartered in Saint Lucia while operates in Montenegro as well. It offers a diverse range of financial instruments to traders, including Spot Metals, Indices, Spot Commodities, Cryptocurrencies, US Stocks, EU Stocks. However, it currently operates without any valid regulatory oversight, raising concerns about its legitimacy and accountability.
In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.
Pros & Cons
| Pros | Cons |
| • Multiple account types | • Unregulated |
| • Zero commission | • Limited info on spreads/payment methods etc. |
| • Demo account available | • Not accept clients from certain countries |
| • Free educational resources |
Pros:
Multiple account types: Lovo Trade offers three real account options with different features and functions catering to various trading preferences and strategies, providing flexibility for traders.
Zero commission: Trading without commissions reduces transaction costs, enhancing profitability for traders.
Demo account available: Access to a demo account allows users to practice trading strategies risk-free.
Free educational resources: Lovo Trade provides valuable educational materials for all account types, empowering traders with knowledge and insights to improve their trading skills.
Cons:
Unregulated: Lack of regulation of the broker poses risks to client funds and investor protection.
Not accept clients from certain countries: Restriction on client access in countries such as USA, Canada, Germany and Turkey limits the broker's market reach and potential opportunities.
Limited info on spreads/payment methods: Insufficient transparency regarding spreads and payment methods hinder informed decision-making for traders.
Is Lovo Trade Safe or Scam？
When considering the safety of a brokerage like Lovo Trade or any other platform, it's important to conduct thorough research and consider various factors.
Regulatory sight: Currently, this broker operates without any legitimate regulatory oversight, raising concerns about transparency and accountability.
User feedback: For a deeper insight into the brokerage, traders should read reviews and feedback from existing clients. These valuable inputs from users, available on trustworthy websites and discussion forums, can provide firsthand information about the company's operations.
Security measures: Lovo Trade does not disclose any security measures on its one-page website. You should seek clarification from the broker directly to ensure their daily operation aligns with your risk management strategies.
In the end, choosing whether or not to engage in trading with Lovo Trade is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.
Market Instruments
Lovo Trade offers a diverse range of market instruments to satisfy the needs for its clients' various trading preferences and strategies. Clients can engage in trading spot metals, providing opportunities to speculate on the price movements of precious metals such as gold and silver.
Additionally, the platform supports trading in indices, enabling clients to invest in a basket of stocks representing a specific market sector or region.
For those interested in commodities, Lovo Trade offers spot commodity trading, allowing traders to participate in markets for products such as oil, natural gas, and agricultural goods.
Cryptocurrency enthusiasts can also access a range of digital assets for trading, including popular options like Bitcoin, Ethereum, and Ripple.
Furthermore, clients can trade US and EU stocks, providing exposure to leading companies across different industries and regions.
Account Types
Lovo Trade offers a variety of account types tailored to meet the needs and preferences of different traders.
A demo account is offered for users to practice trading strategies and familiarize themselves with the platform's features before committing real funds.
The Gold Education account requires a minimum deposit of $200 and provides access to educational resources along with 24/5 support.
For those seeking more comprehensive educational materials and support, the VIP Education account requires a minimum deposit of $500.
Additionally, traders looking for advanced trading features and benefits can opt for the ECN Education account, which requires a minimum deposit of $1000.
Regardless of the account type chosen, all clients benefit from 24/5 support and access to free educational resources, ensuring they have the tools and assistance needed to succeed in their trading endeavors.
How to Open an Account？
To open an account with Lovo Trade, individuals are instructed to submit their ID copy and address confirmation via email. Following this, Lovo Trade's investment experts undertake the account opening process on behalf of the client, facilitating a hassle-free experience.
Spreads & Commissions
At Lovo Trade, traders enjoy the advantage of commission-free trading, providing a cost-effective environment for executing trades. While spread information is not disclosed, the absence of commissions ensures transparency and enables traders to focus on their strategies without additional overhead costs.
Trading Platforms
Lovo Trade's proprietary trading platform LOVO TRADE offers a comprehensive suite of features designed to empower traders in their financial endeavors.
With instant market tracking accessible from any device, users can stay informed and react quickly to market movements.
The platform also prioritizes risk management, allowing traders to create and manage their own risk plans through leveraged trading and hedging strategies.
Additionally, users benefit from free signals and analytics provided by their expert research staff, aiding in informed investment decisions.
With fast and secure money transfer capabilities, traders can swiftly execute deposits and withdrawals. Furthermore, the platform supports two-way investment, enabling users to profit from both bullish and bearish market movements.
Customer Service
Lovo Trade offers 5/24 support via a range of customer service channels, including phone and email assistance, a physical address for inquiries, a convenient contact us form on their website. This multi-channel approach ensures timely and accessible support for traders' queries and concerns.
Office address: Ground Floor, The Sotheby Building, Rodney Bay, Gros Islet, Saint Lucia;
Cetinjski Put bb. UP C ul11 st10, Podgorica,Montenegro.
Phone: +382 20 331 063.
Email: info@lovotrade.com.
Conclusion
In summary, Lovo Trade is an online brokerage firm operating in Saint Lucia and Montenegro, offering a wide range of trading instruments, includingSpot Metals, Indices, Spot Commodities, Cryptocurrencies, US Stocks, EU Stocks. However, it's crucial to note that Lovo Trade currently operates without valid regulations, raising concerns about its accountability and commitment to client safety.
Therefore, you should be cautious when deciding to trade with this broker and consider alternative brokers with established regulatory oversight to mitigate potential risks.
Frequently Asked Questions (FAQs)
| Q 1: | Is Lovo Trade regulated？ |
| A 1: | No, it‘s been confirmed that the broker is currently under no valid regulation. |
| Q 2: | Is Lovo Trade a good broker for beginners？ |
| A 2: | No, it’s not a good broker because its not regulated by any authorities. |
| Q 3: | Does Lovo Trade offer the industry leading MT4 & MT5？ |
| A 3: | No. |
| Q 4: | Does Lovo Trade offer demo accounts？ |
| A 4: | Yes. |
| Q 5: | What is the minimum deposit for Lovo Trade？ |
| A 5: | The minimum initial deposit to open an account is $200. |
| Q 6: | At Lovo Trade, are there any regional restrictions for traders？ |
| A 6: | Yes, it does not offer provide services on behalf of residents of the USA, Canada, Germany and Turkey. |
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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