LST-IC detect scam

Scam detection with LST-IC

2022-11-21 21:56:58

Fraud exists as long as markets do, and Forex market has never been an exclusion from this rule. The good news is that scammers usually don’t invent something extraordinary. Most of the Forex frauds based on simple things thus they can be detected. We’ve joined forces with LST-IC to create some sort of checklist to detect a possible fraudster which is only pretending to be a reliable broker.

Some people tend to think that one of the distinguishing features of a scammer is loud and tasteless promo campaign, but that is not necessarily so. “I wish it was so simple. May be their marketing department does something wrong, or the campaign in badly targeted. Not every brokerage which is being aggressively promoted, is a scammer”, Jonathan Singh, LST-IC development director, explains. There are several other tools to detect possible scam, which are simple but much more effective.

According to Forex broker LST-IC experience, first way to detect a scammer starts at brokerage official website. “Scammers very often just don’t understand what the shop window is and why it is important”, Singh says. These scammers’ websites do not live for a long time; they close or just abandon them easily as soon as they gather enough money from their clients. “They use some ready to use web design patterns, their sites look very lame and empty – at LST-IC we believe scammers can be identified by their websites, as for many of them it is rather some formal thing”, he adds.

Another feature of this kind is the approach to website content – lack of information, links leading to nowhere, numerous mistakes etc. According to Singh, it is almost inevitable. Imagine you launch these websites all the time, one after another. One day you just start copying that content with all its mistakes from the previous versions, as it is faster and cheaper. “LST-IC as legit broker can’t neglect the content, but fraudsters don’t have this problem”, Singh explains.

There is one more key thing – abnormally big bonuses for traders who help engaging new customers. “I don’t mean referral bonuses or partner schemes as they are. This is one of the marketing tools, you can use them even if you are not a fraudster like LST-IC does”, he adds. The key thing is those referral payments shouldn’t be bigger than profits from the trading itself. If they are, that is most likely a good old Ponzi scheme, pattern which is well-known but nevertheless is still in use.

Then comes another LST-IC fraud detection perk. “Check the minimal deposit size. It is actually the entry ticket, it shouldn’t be worth $1000 or some other amount close to it. The mass market user is just not ready to deposit such money at once, therefore high threshold makes no sense if a broker is good to trade”, Singh says.

Another thing to mention in our scam review with LST-IC is things related to payments. To cut the long story short, the less methods are available, the bigger odds that you are about to get scammed. Deposits and withdrawals only in crypto is very bad sign. “We support crypto payments – if you ask me personally, I am not a fan of crypto, but some traders are, and we are taking it into account. LST-IC doesn’t consider cryptocurrencies as fraudsters’ distinguishing feature, for us it is just a method of payment with all its pros and cons”, Singh explains. Nevertheless it is much more reliable, when crypto payments are listed along with conservative, but trusted and reliable methods. “Everybody can have a crypto wallet, it is not a problem, you never know who its real owner is. But becoming a payment system partner of SWIFT affiliated partner is much more challenging thing to do”, he adds.

The last but not least thing to take into account when selecting Forex broker are various scam reviews, according to LST-IC. Some of them are good enough and informative, some aren’t. But if you are about to trust your money to somebody, you would most likely be interested to know what happened to other people who did it earlier. “The reviews of specific Forex broker’s scams can be useful. But I wouldn’t say the same about various scam lists with many companies included. These are most likely written by people who don’t trade themselves, or they are even paid by some of our competitors. How do they know, for example, whether LST-IC is legit broker or not, if they haven’t been our clients? It’s up to you, of course, but the credibility of these lists seems dubious”, Singh says.


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I have been trading Forex for more than 5 years, mostly with manual and automatic trading. I set up advisors for round-the-clock automated trading. I'm sure I can help to establish your trading skills....


Comments ()

  1. guest review Uilkerson E­ntoni 05.12.2022
    I have been working with this broker for over two years and I have never had any complaints. My agent is an honest broker and publishes all reports. I should mention that the broker has several account types and a full set of instruments.
    1. guest review Richardson Dzhon 06.12.2022
      I have been convinced of this many times. I opened the account more than a year ago, all payments came. The broker uses official Forex instruments, no dubious schemes were noticed.
      1. guest review Striklend Uilyam 07.12.2022
        The broker gives any amount. The first time requested less than $300, the second $930. No refusal. The money came into the account in 4 days.
        1. guest review Uayt Dzhordzh 08.12.2022
          I am glad, that Lst-Ic is not swindler and I can open account in local currency. I try to withdraw periodically, but I do it not often. I have not had any problems.
          1. guest review Adams Alban 09.12.2022
            I have never had any problems with withdrawals. Stops triggered quickly, customer support is responsive. I wish there were more training materials for advanced players.
            1. guest review Nelson Dzhona 10.12.2022
              Happy first withdrawal for me! I am glad as a child, because until the last moment I did not believe. <I'm glad I did it because I didn't believe in it at the last moment. To tell you the truth, I opened the account long time ago without expecting anything to come out. I do not think there is any success in trading and I even decided to increase the deposit. I have always been a good trader and I am sure I will continue with my trading.
              1. guest review Maksvell E­ndryu 11.12.2022
                I have always been a good trader and I have always had a good service. I have evaluated the work, checked the clarity of charts and the support service. I have found the platform to be very good. I have not seen any misleading shadows.
                1. guest review Uilson E­gbert 12.12.2022
                  I have a very good «B» for the platform. I cannot say anything bad, but I had to wait longer for the withdrawal than I wanted. Lst-Ic not a cheater, but the timeliness is not enough.
                  1. guest review Blek Donald 15.12.2022
                    The support service works, that already allocates against a background of other brokers. The answer came to the mail within half an hour, plus a good referral system. I also got a good referral system and the platform did not suffer from any slowness, and I will start with the pros.
                    1. guest review Beyker Feliks 16.12.2022
                      I will start with the pros. <I never had any problem with using the platform because the platform was up and running and no bugs appeared on the site. I never had any connection interruptions, the spreads are small and orders are executed instantly. I don't know if I should consider it a disadvantage, but it took me about 8 hours to get the response from the support team.
                      1. guest review Rayli Kristofer 17.12.2022
                        I have been using the demo for less than a month and then I opened a real account. I have been using the demo for over a month and then I opened a normal account. I've never tried to trade on such futures accounts before, I've never tried to list them on my own. I have been trading all over the world and I am not planning to change my broker yet.
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                          I have never been used in this kind of brokerage and I'm not going to change it. I have been working with this broker for a long time and I don't have any plans to change it yet.
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                            LST Inc broker relatively young broker, which is oriented for convenience and mobility. You can trade both from the phone and from different gadgets. It is convenient and available everywhere.
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                              You can also rely on the robot, which you yourself can program as you are suitable and then just check it. LST Inc relatively young broker, which is oriented for convenience and mobility.
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                                  LST Inc is now popular, among my friends for sure. I myself personally earned a little, but I think that this is a matter of time. At first, there was little little, but went through courses, worked as well on copying transactions, and now he was a result.
                                  1. guest review Freeman Maximilian 02.02.2023
                                    He Always Dreamed that Suitcase of Money Fell on My Head. I have tried to do business many times, I am Well Aware of All the Risks, But Unlike The Physical Business, The Exchange Is Someting Else. You may have your out -anlyst Whill Help Predict the Growth Or Drope of the Asset. You have functions to libimit the risks, the ability to get out of the tenSction if the price drops to the level that you Indicated. And this happens along an automatic trading Order and Looks Just Fantastic. I Suffered a collapse many times how I embudied Another Business Idea, but with my access with LSTH Inc EVERYTHING CHANGED. No, I do not recove Income from the only Exchange, I have Three More Businesses that Bring Money. But the Point is that trading and the Portfolio with I have been working for more than a serge under the Stickt Guidance of My Perschange Analyst is the Future. This is an investment that will not Pay for itself in a year or two. She is the prospect of a really comfortable old age, which is not terrible either natural disasters or competitors (somehow my new one, only a restaurant that has become on its feet unexpectedly burned out). Indirectly, The Portfolio, of Course, Can Suffer, But If You Carefullly Follow It, At Such Moments You Can Increase the Contarary. I Want to Express My Gratitude to the LST InC Team for What They Are Doing. This is Very Valuable for Me and My Family.
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                                      On the Exchange, As in Any Other Business, You Need to Understand What You are Doing and who. You can not treat this as a casino. It is Necessary to Study Strategies, Not at All At Once, But Choose a Narrow Direction for Yourself and Analyze Economic Events in it. But, Also Do Not Forget that Market is a Market, So Even The Best Strategy May Not a Certain Moment. In Order to Avoid this or minimize Such situations, You Shoup Enlist the Support of a Specialist. Light Has Divorced Pseudo-Analysts Too Much. Personally, I Spent a Lot of Time in Search to Meet The Very Person Who Much Smarter than Me About Trade. And I Found Him. One of the Analysts LST Inc Able to Minimize My Risks, and I Believed That Such Brilliant Work Nedes to Be Paid Well. Althrow I Offered Him to Move to Me and Work with Me 50 To 50, He Remained Faithful to His Company. BUT I'M GLAD that Even So He Leads Me Along Such a Capricious Path.
                                      1. guest review Burke Anthony 13.02.2023
                                        The First Broker that Brough Me Not $ 10, When I Wanted to Check Its ReliaBility, But the Whole Amount. I HAD A Little More than $ 1.000, As I Started Trading LSTH Inc Three Months Ago and During This I Managed to RePlenish the Account and Earn. SINCE I am not A Beginner in this Matter, I alriedy Knew that i neded to try and sent an application for the Conclusion of EVERYTHING to Zero. And Accustomed to the Fact that Are Only Fraudsters Around, I Was Alread Waiting For Long -Term Procedings, Tyagomotins, etc. Unpleasant Moments. You Understand How Much I Was Surprised When Inter 2 Banking Days (I took Off on Friday, They Came on Monday Evening) I read the main amous Only A Conversion in a not Very Profitable Course. Can you iMagine? I Still Do Not Believ. AFTER A COUPLE OF DAYS, I AGain Replenined the Score (Today) and AlReady Went Into the First Gold Deal. Fortunatly, I Managed to Get to the Same Specialist with Whom I Had Already Worned Out. All Profit, Gentlemen! Do Not Be Afraid to Take Risks and Experiment!
                                        1. guest review Hunter Joseph 25.02.2023
                                          This is my subjective Opinion and, if its from youurs, you do not not ned to attack and say that broker LST IS someting Like this or not. I Love to Insert My Five Cents Wen It Comes to Brokerage Companies. Special, if the is sOMETHING to top for. The Impression of the Broker Has Someting to Compare. LST InC IS Normal. With these feats, They Havy a Little Overkill As for ME — High on Separate Tools. The only Thing that Really Hooken Me Right in a Positive Way is a good Performance of Stop and Limit Orders. There is not -complain ABOUT, Slippage Is Several Times Less than It Was in Other Companies. For me, these are the most Burning Moments, the BecAuse of Which I am Ready to Endure Other ShortComings and Even, Albeit Private, Shortcomings. The First Conclusion to the Banking Is a Separate Story. It Spun So that I Thumbe, EVERYTHING, My Money CRIED, My PSYCHE and EVERYTHING ELSE. But, if the company is dealing with the system conference system, it will be good at all. Because I Waeded a Week Until I Wrote in Technical Support, and From there I Was Connected with The Financial Department, Which Has Alread Mee a Conclusion. Now I ImmediaTely Write to them by Mail in Order to Avoid Loss of Nerve Cells and Time. I am Still An Optimist and BelievE in A Miracle.
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                                            For those who are looking for reliable and deserving. The service of LST InC customers is excellent, the trading platform is equipped with many functions, and the choice of currency pairs is excellent.
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                                              Forex broker LST InC provides educational resources and webinars to help traders keep up with the latest events in the market.
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                                                Graphs and analysis are very useful for the broker, and I am always aware of the events in the market. LST Inc is a fantastic forex bracket that offers a wide range of services and opportunities for its users.
                                                1. guest review Calvin Scott 19.03.2023
                                                  There are educational courses and webinars to help traders stay up to date with the latest events in the market. Everything you need can be found on the website of the LST Inc broker.