M.lbma-forex.com Review 2025: Unlicensed Broker Clone Exposed

[Evgeny Lebedev]

Regulatory Status and Licensing

M.lbma-forex.com operates under the name LBMA Forex, attempting to capitalize on the brand recognition of the London Bullion Market Association (LBMA). However, a critical examination reveals that this broker has no connection to the official LBMA organization, nor is it licensed by any recognized financial regulator such as:

• Financial Conduct Authority (FCA) – UK
• CySEC – Cyprus
• ASIC – Australia
• FINMA – Switzerland

No verifiable license number or corporate registration data is provided on the website, which is hosted on a subdomain (m.lbma-forex.com) — a tactic often used by clone or scam brokers. This subdomain-based structure, combined with misleading branding, strongly suggests that the broker is attempting to masquerade as a legitimate bullion-related entity to deceive potential investors.

Conclusion: M.lbma-forex.com is completely unregulated and likely operating in breach of financial laws in multiple jurisdictions.

Trading Conditions and Specifications

The broker advertises typical retail features such as:

• Access to Forex, commodities, and indices
• High leverage options (up to 1:500)
• Low spreads and "commission-free" trading
• Multiple account types (details hidden behind registration)

However, the website fails to publish specific trading conditions, including:

• Minimum deposit requirements
• Actual spread ranges
• Margin call levels or stop-out thresholds
• Execution model (ECN/STP/MM)

This lack of transparency is characteristic of untrustworthy operations that seek to manipulate terms post-deposit, often by inserting hidden clauses through opaque client agreements.

Technological Infrastructure and Platforms

There is no access to standard platforms like MetaTrader 4 or MetaTrader 5. Instead, M.lbma-forex.com pushes users toward an unverified proprietary web terminal, the security and execution mechanisms of which are completely undocumented. Red flags include:

• No SSL certification on key pages
• No information about order execution policy
• No mobile app support
• Possible backend manipulation risk (price deviations, stop-hunting, false slippage)

This technical infrastructure is not only unregulated but also potentially engineered for fraudulent manipulation.

Financial Operations

Like many scam-style brokers, M.lbma-forex.com accepts:

• Credit/debit card deposits
• Wire transfers
• Cryptocurrency (often preferred by fraudsters due to irreversible transactions)

Key concerns:

• No published withdrawal policy
• No processing timelines or fee structures
• Frequent user reports of frozen accounts upon withdrawal attempts
• Withdrawal requests often met with fabricated KYC "violations" or new deposit demands

This behavior is consistent with advance-fee scams, where users are pressured to pay for "release fees," "compliance costs," or "taxes" in order to withdraw — money which is then never returned.

Reputation Analysis and Customer Support

M.lbma-forex.com has no verifiable public reputation among legitimate trading communities. Its name does appear in multiple scam reporting forums, including:

• FPA (Forex Peace Army)
• Reddit scam exposure threads
• Complaints aggregators tracking clone websites

Common themes include:

• Fake promises of guaranteed profits
• High-pressure sales tactics via "senior analysts"
• Immediate disappearance of support once clients request withdrawals
• Use of a false association with LBMA to build trust

Support is offered via web forms or generic email addresses, with no physical office address, verified phone number, or regulatory contact information.

Final Assessment

M.lbma-forex.com is a high-risk, unregulated, and potentially fraudulent broker operation. From the misuse of the LBMA name to the unverified trading platform and withdrawal barriers, all available evidence points to scam-like behavior.

Pros:

• Claims to offer multi-asset trading (unverified)

Cons:

• No regulatory license
• Misleading branding association with LBMA
• Non-transparent trading and withdrawal terms
• Unverified platform and security risks
• Dozens of scam reports and user complaints

Conclusion: Avoid M.lbma-forex.com. Engaging with this broker is highly likely to result in financial loss with no legal recourse.