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LiteGraphs

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Operating status: SCAM

Website: https://litegraphs.com/

Broker violations and abnormal records
  • 2023-11-26 BrokersView has reviewed that LiteGraphs is an unregulated broker

    LiteGraphs doesn't provide any information about its real operator. On its website, it only says this company, allegedly located in Belgium, is operating under the trading name LiteGraphs. The lack of transparency raises significant concerns about its credibility.

    Despite claims of being based in Belgium, a search in the register of the Financial Services and Markets Authority (FSMA) did not yield any corresponding results. This indicates that LiteGraphs has not obtained the required authorization from this financial regulator. It's worth noting that the FSMA implemented a ban from 18 August 2016 on the distribution of over-the-counter (OTC) derivatives, including Forex, CFDs, and Binary options among Belgian retail clients. This ban should be considered when choosing a Belgian Forex broker.

    In essence, LiteGraphs is not regulated by any governing body, which poses a high risk for investors. There are no legal protections in place to safeguard the funds entrusted to this broker.

    Given these factors, it is reasonable to conclude that LiteGraphs is unequivocally a scam.

    LiteGraphs doesn't provide any information about its real operator. On its website, it only says this company, allegedly located in Belgium, is operating under the trading name LiteGraphs. The lack of transparency raises significant concerns about its credibility.Despite claims of being based in Belgium, a search in the register of the Financial Services and Markets Authority (FSMA) did not yield any corresponding results. This indicates that LiteGraphs has not obtained the required authorization from this financial regulator. It's worth noting that the FSMA implemented a ban from 18 August 2016 on the distribution of over-the-counter (OTC) derivatives, including Forex, CFDs, and Binary options among Belgian retail clients. This ban should be considered when choosing a Belgian Forex broker.In essence, LiteGraphs is not regulated by any governing body, which poses a high risk for investors. There are no legal protections in place to safeguard the funds entrusted to this broker.Given these factors, it is reasonable to conclude that LiteGraphs is unequivocally a scam.

Related Complaints

Q&A

Tell me something about LiteGraphs' regulation plz.

Bree Rodionov
Greenland
2023-12-02
ANSWER LiteGraphs appears to be operating without the necessary authorization, rendering its services unlicensed and unregulated. We strongly advise investors to steer clear of this unregulated trading platform.The lack of regulatory information from LiteGraphs suggests that they may have failed to obtain the necessary authorization. Despite claiming to be based in Belgium, a search in the Financial Services and Markets Authority (FSMA) register yielded no corresponding results.Investors should also note that the FSMA implemented a ban on the distribution of over-the-counter (OTC) derivatives, including Forex, CFDs, and Binary options to Belgian retail clients from 18 August 2016. This ban should be taken into account when selecting a Belgian Forex broker.In conclusion, trading with LiteGraphs could potentially lead to fraud and identity theft. We advise investors to avoid it and other unlicensed brokers. Opting for a fully regulated broker can help mitigate trading risks.
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