What is LPM GROUP LIMITED？
LPM Group Limited, operating out of Hong Kong, is in the business of trading precious metals and unique collectibles, which includes commodities such as gold, silver, and platinum, along with scarce collectibles. Currently, it functions without any official regulatory oversight.
In our upcoming article, we will present a comprehensive and well-structured evaluation of the company'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 company for a clear understanding.
Pros & Cons
Pros:
No Deposit Fees: LPM Group Limited does not charge any fees when you deposit funds into your account, making the transaction cost-effective.
Multiple Customer Support Channels: They offer multiple avenues for customer support including phone, email, 'Contact Us' form, WhatsApp, live chat, and even social media, ensuring that help is always readily available.
Cons:
Unregulated: The absence of a recognized regulating authority overseeing operations at LPM Group Limited raises concerns regarding their adherence to standard industry norms and client protection.
Additional Fees for Buyback Orders: While there are no deposit fees, the company does charge extra fees for buyback orders which can add to the transaction cost.
Is LPM GROUP LIMITED Safe or Scam？
When considering the safety of a brokerage like LPM GROUP LIMITED or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a financial company:
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: The company's security measures include a comprehensive privacy policy safeguarding user data and a robust anti-money laundering policy, ensuring transactions align with legal and ethical standards.
Ultimately, the decision to trade with LPM Group Limited lies with the individual. It's recommended that one meticulously weighs the potential risks against the projected benefits prior to initiating any actual trading transactions.
Services
LPM Group Limited is a dealer in precious metals and unique collectibles which includes gold, silver, and platinum. Their vast product line extends beyond traditional precious metals to include scarce and distinctive collectibles that appeal to a diverse clientele.
They've curated an inventory that caters not only to serious investors seeking the intrinsic value and security of gold, silver, and platinum, but also to collectors fascinated by the rarity and uniqueness of collectible items.
Such comprehensive services are available for both buyers and sellers who want to purchase large quantities or individual items. Their customers include but not limited to collectors, dealers, accumulators, banks, brokerage houses, investors and speculators.
How to Open an Account？
To open an account with LPM Group Limited, follow these steps:
For Personal Accounts:
Step 1: Visit their website and click the “Sign Up ” button.
Step 2: Fill out the relevant information and complete the sign-up process.
Step 3: Once the account is open, you can immediately begin shopping online.
For Corporate Accounts:
Step 1: Determine whether you require a Commercial or Wholesale account.
Step 2: For a Commercial account, register with a certified company and note there's no minimum order volume. Payments must come from the company's bank account.
Step 3: For a Wholesale account, register with a certified company, ensure the minimum order volume is met, and payments must also come from the company's bank account.
Step 4: Visit their website, provide your company details on the dedicated form and specify which corporate account you'd prefer.
Step 5: LPM will then assist you further and direct your request to the appropriate department.
Importantly, there are no account opening fees, it is free of charge.
Payment Methods
Payment can be made through a variety of methods including Credit Card, PayPal, Bank Wire, FPS, and Hong Kong bank cheques. 5% discount off the original price will be offered for orders paid using Bank Wire, FPS, and Hong Kong bank cheques. Moreover, the dealer prohibits third-party payments, insisting that the name on the remitting account align exactly with the LPM account holders name.
For buybacks, payments can be made through Hong Kong Bank cheques or bank transfers. Note that bank transfers attract additional charges, deducted from the total payable amount, plus a USD 50 administrative surcharge.
The company processes payments for buybacks within two to five business days, but this could extend up to ten business days depending on factors like bank holidays, market activity, or transaction size.
Customer Service
LPM Group Limited offers extensive customer support through various channels including their physical address, phone, email, an online 'Contact Us' form, WhatsApp, and a live chat service, ensuring comprehensive and accessible support for their customers.
Supplementary support is also accessible through their social media platforms including Facebook, YouTube, Telegram and WeChat, providing another avenue for customer service and engagement.
Address: 2/F, 33 Des Voeux Road Central, Central, Hong Kong.
(1-minute walk from MTR Central Station Exit B / Hong Kong Station Exit C).
Phone/ WhatsApp: +852 3568 6834.
In Store Hours: Monday - Friday 10am to 7pm HKT, Except for Hong Kong public holidays
Email: sales@lpm.hk.
Conclusion
At its core, Hong Kong-based LPM Group Limited is a precious metals dealer specializing in the trading of commodities such as gold, silver, platinum, as well as unique and scarce collectibles. However, its current operation devoid of any recognized regulatory oversight raises potential red flags. This lack of regulation may cast doubt on the broker's commitment to ethical standards and protection of its clients.
Hence, you should navigate cautiously or perhaps consider other dealers that demonstrate unwavering commitment to transparency, compliance with standard regulations, and professional conduct.
Frequently Asked Questions (FAQs)
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.
