Note: Report Scam Community has conducted many researches before flagging Lunboux Limited as a possible scam in this Lunboux Limited Review.
Website – https://lunboux.com/en/
Address – 5/F, Blue Pool Court, 2 Holly Road, Happy Valley, Hong Kong
Warned By – Not Recommended By Review Website Like Report Scam
Lunboux Limited Review: Introduction
The domain was created on March 28, 2022, and is in the name of Hong Xiao. The address mentioned is 5/F, Blue Pool Court, 2 Holly Road, Happy Valley, Hong Kong, 999077, China. The phone number is +852 96057324. To know more about the broker/company, read our review of Lunboux Limited review.
Lunboux Limited Review: Regulation Status
Among many major global financial destinations like London, Hong Kong is also one of them. The regulating authority of Hong Kong is the Securities and Futures Commission (SFC), which was founded in May 1989 as an independent statutory body. All the forex brokers who wish to render financial services in Hong Kong should maintain the least possible capital of 5 million Hong Kong dollars and join an Investor Compensation Fund. The SFC is quite a strict regulator for forex brokers are concerned.
Lunboux Limited is not registered with SFC. That is one big red flag you should consider while investing with Lunboux Limited. In other words, your funds are not safe with this broker.
Lunboux Limited Review: Website
The website kept on malfunctioning whenever we tried to access it, so we could not collect much information. The contact us page was also not opening, so we tried to get as much information as possible through live chat. On one page we found that the broker is operating from Hong Kong, but on another page, we came to know the broker claims to be based in New Zealand.
Lunboux Limited Review: Dirty Tricks
Unregulated and unlicensed brokers are known to use all types of dirty tricks to attract attention and lure traders and investors into their schemes and cheat them shamelessly. One of the most common techniques is the trading bonus they offer. They use this trick to prevent withdrawals and attract more clients.
Usually, the trader/investor account gets credited with a bonus on the first deposit. It is a trap, and by no means generosity on the part of the broker. The trader/investor can only withdraw potential profits and these bonuses after reaching virtually impossible turnover targets. Even the most seasoned player cannot achieve these targets.
Scam brokers usually hide the nasty and wicked bonus terms somewhere in the corner with small fonts. Lunboux Limited is no different. There are no terms and conditions documents available on the Lunboux Limited website. This is another red flag.
Lunboux Limited Review: Trading Platform
Lunboux Limited claims to offer a MetaTrader5 trading platform. But this platform cannot be accessed from its website. This is another red flag. This means Lunboux Limited is not transparent, or the company may not be providing trading services at all, and may exist only on paper.
MT5 uses a 64-bit architecture. It offers more indicators, analytical objects, and timeframes. It has a built-in economic calendar and an automated copy trading function.
Why should you not deal with Lunboux Limited?
- The broker is not a regulated entity to provide financial services in Hong Kong.
- Bonus conditions are such that withdrawal is near impossible.
- The website is not functioning well. At present, the website is down and closed, not open for registration.
- The leverage provided (1:300) is too high and regulated brokers are not restricted to keeping such high leverage.
- No legal or critical documents are displayed on the website, like registration number, address, contact details, owners, and chief operating officers profile.
- They claim to have an experienced team, but their formation is very recent.
Lunboux Limited Review: Conclusion
If you are a victim of the Lunboux Limited scam, contact us. We, at Report Scam, are a community whose main purpose is to help scam victims recover their funds.
We also deal in cryptocurrency scams, tax scams, romance/dating scams, investment scams, binary options scams, pension scams, fund recovery scams, etc.
Do remember to complete the online form for a free consultation. That will initiate the process of claiming your lost money.
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Domain Age Information of Lunboux Limited
|February 28, 2022
|6 months, 24 days, 3 hours, 1 minute, 18 seconds
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