In today’s world, online trading has become an increasingly popular way for individuals to invest and make a profit. However, it’s important to be cautious when choosing a broker to work with, as there are numerous scams and fraudulent companies in the market. One such company is LNAV, which has been accused of engaging in fraudulent activities. In this article, we’ll take a closer look at LNAV and provide an in-depth review of the company to help you make an informed decision.
Overview
Broker Name | LNAV |
Website | Lnav.com (Currently unavailable, parked for sale) |
Regulation Status | Unregulated |
License Status | Unlicensed |
Warnings | FCA, SEC |
Traders’ review | Negative |
Is LNAV Regulated?
This broker’s website is currently unavailable and it is closed since December 2021. Before that, we cannot find any information about their regulation from Wayback Machine Archive. This means that the company is not required to adhere to any rules or regulations, and there is no oversight to ensure that they are operating fairly and ethically.
Warnings from Financial Regulations:
Many financial regulators, including the Financial Conduct Authority (FCA) in the UK and the Securities and Exchange Commission (SEC) in the US, have issued warnings about LNAV. These warnings indicate that the company is operating without authorization, and traders should avoid working with them.
Is LNAV Can Be Trusted?
Based on the lack of regulation and the warnings issued by financial regulators, it’s difficult to trust LNAV. The company has also been accused of engaging in fraudulent activities, which further erodes trust in its operations. Traders should exercise caution when considering working with LNAV and thoroughly research the company before investing any funds.
What Kind of Currency Pair Do They Offer?
LNAV offers access to a wide range of currency pairs, including major, minor, and exotic pairs. However, given the company’s reputation, it’s best to avoid trading with them altogether.
Customer Support:
LNAV claims to offer excellent customer support, with a team of representatives available 24/7 to assist clients. However, numerous complaints have been made about the quality of their customer support, with traders claiming that their issues were not resolved satisfactorily.
Trading Method (MT4/MT5/Any other method):
According to the previous traders’ opinions, we found they are using a basic type of MT4 platform. But, they cannot get the platform’s idea without doing a signup.
We found this image from an online forum thread where a trader shared his feedback with LNAV.
What Do Traders Think About LNAV?
Traders who have worked with LNAV have reported a range of issues, including misappropriation of funds, price manipulation, and refusal to honor withdrawal requests. These issues are serious and indicate that LNAV cannot be trusted as a broker.
What To Do If You Get Scammed?
If you believe that you have been scammed by LNAV or any other broker, the first thing to do is to contact the relevant financial authority in your jurisdiction. They will be able to provide guidance on how to proceed and may be able to assist in recovering any funds that have been lost.
But, most of the time, this process takes a long time. In that case, you can submit your case through our form. We will analyze your case and will provide you with a free consultation with some good service recommendations.
File A Complaint & Get Free Consultation
Final Thoughts:
Based on the lack of regulation, warnings from financial regulators, and numerous complaints from traders, it’s clear that LNAV cannot be trusted as a broker. Traders should exercise caution when considering working with them and should thoroughly research any broker before investing any funds. It’s also important to report any suspicious activity to the relevant authorities to prevent others from falling victim to scams. Overall, it’s crucial to prioritize due diligence and choose a reputable and trustworthy broker to work with within the online trading industry.
