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The WikiFX Score of this broker is reduced because of too many complaints!

Lego Market LLC

Saint Vincent and the Grenadines|2-5 years|
Regulated in Australia|Common Business Registration|MT4/5 White Label|Regional Brokers|Australia Appointed Representative(AR) Revoked|Suspicious Overrun|High potential risk|

https://legomarket.co

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

LegoMarket-DEMO

France
MT4
2

Influence

C

Influence index NO.1

Poland 4.73
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
LegoMarket-DEMO MT4
Server Location France

Influence

Influence

C

Influence index NO.1

Poland 4.73

Surpassed 96.54% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

support@legomarket.co
https://legomarket.co
Griffith Suite Corporate Centre Kingstown, St Vincent And The Grenadines

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
Lego Market LLC
Brokereo
MRG LTD

Broker Information

More

Company Name

Lego Market LLC.

Company Abbreviation

Lego Market LLC

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 5
Previous Detection : 2024-03-29
  • The number of the complaints received by WikiFX have reached 30 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0535165) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!

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Expose

    Lego Market LLC · Company Summary

    Registered in St. Vincent and the Grenadines
    Regulated by No effective regulation at this time
    Year(s) of establishment 2-5 years
    Trading instruments Forex, CFDs on Stock Indices, Commodities, Stocks, Metals and Energies.
    Minimum Initial Deposit $10
    Maximum Leverage 1:1000
    Minimum spread 0.1 pips onwards
    Trading platform own platform
    Deposit and withdrawal method Information not available
    Customer Service Email /address/live chat
    Fraud Complaints Exposure Yes

    It is important to note that while this table provides some basic information about Lego Market LLC, it is always recommended to conduct thorough research and due diligence before investing any funds with any broker, especially those located in offshore jurisdictions.

    General Information

    Lego Market LLC (Lego) is a forex and CFD broker registered in Saint Vincent and Grenadines, offering diversified trading products including currency pairs, indices and futures.

    Lego Market LLC offers three types of trading accounts: Standard, Pro, and VIP. The minimum deposit required for each account type varies, with the Standard account requiring a minimum deposit of $10. The maximum leverage offered by Lego Market LLC is up to 1:500, which is a high level of leverage compared to regulated brokers.

    The spreads offered by Lego Market LLC are variable and depend on the trading instrument being traded. The broker claims to offer spreads starting from 0.3 pips for the EUR/USD currency pair. Lego Market LLC provides the MetaTrader 5 platform to its clients, which is a popular and widely-used trading platform among forex traders.

    When it comes to customer support, Lego Market LLC offers various channels, including phone, email, and live chat. The broker also provides a comprehensive FAQ section on their website and a number of educational resources for traders.

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

    We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

    General information

    Is Lego Market LLC legit or a scam?

    No, Lego Market LLC is not a regulated broker. The broker is registered in Saint Vincent and the Grenadines, which is a popular offshore destination for forex brokers. However, being registered in an offshore jurisdiction does not necessarily imply regulatory oversight or protection for traders' funds. It's important to note that the lack of regulation may increase the risks associated with trading with an offshore broker. Regulated brokers are held to strict standards and must follow specific guidelines and regulations to ensure the safety of their clients' funds. Therefore, traders should carefully consider the potential risks and drawbacks before choosing to trade with an unregulated broker, and should conduct thorough research to ensure that the broker is reputable and trustworthy.

    Pros and Cons

    Based on the pros and cons table, Lego Market LLC may offer some benefits such as a variety of trading platforms, low minimum deposits, high leverage, competitive spreads, and a variety of trading instruments. However, the broker's lack of regulation, being based in an offshore zone, limited payment options, and lack of transparency with some information may pose significant risks for potential clients. Thus, traders should approach trading with caution, conduct thorough research, and fully understand the potential risks and drawbacks of working with an unregulated offshore broker. Here is a table listing some potential pros and cons of Lego Market LLC:

    Pros Cons
    Multiple account types and trading platforms Not regulated, located in an offshore zone
    Low minimum deposit No negative balance protection
    High leverage up to 1:500 Limited educational resources
    Various trading instruments Limited payment options
    No demo account
    No social trading feature
    Lack of transparency with some information

    Market instruments

    Forex, CFDs on Stock Indices, Commodities, Stocks, Metals and Energies. .....Lego Market LLC allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Lego Market LLC.

    market instruments

    Spreads and Commissions

    LEGO Market LLC offers different types of accounts that come with varying spreads and other features. The broker claims to provide spreads from as low as 0.1 pips on all of its account types, but the exact spreads offered may differ depending on the account type.

    For instance, the Standard account comes with a floating spread from 0.1 pips, which is said to be the tightest available spread with no commissions. Meanwhile, the Pro account features lower spreads than the Standard account, starting from 0 pips, but a fixed commission of $7 is charged per lot traded.

    The VIP account, on the other hand, offers the lowest spreads and zero commissions or swaps. The spreads start from 0 pips and average at 0.3 pips. However, it still remains unclear if there are any hidden charges or fees with LEGO Market LLC, given that it operates from an offshore-zone with little regulatory oversight.

    It is important for traders to understand the implications of different spreads and commissions available and make an informed decision on the type of account that best suits their trading needs and risk appetite.

    Account Types for Lego Market LLC

    Demo Account: Lego Market LLC does not make it clear if it provides a demo account that allows you to try out the financial markets without the risk of losing money.

    Live Account: Lego Market LLC offers a total of 3 account types: standard, pro and VIP. The minimum deposit to open an account is $10, $100 and $10,000 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, a standard or pro account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.

    account types

    How to open an account?

    1. Visit the LEGO Market LLC website and click on the 'Open an Account' button.

    2. Fill in the account sign-up form with your details, such as name, email address, and phone number.

    3. Choose your preferred account type and fill in the required information, such as your country of residence, trading experience, and preferred currency.

    4. Submit the required verification documents, such as a government-issued ID card and proof of address (utility bill, bank statement).

    5. Fund your account to start trading.

    It is essential to highlight that LEGO Market LLC operates in an offshore zone, and its registration and licensing statuses remain unclear. Thus, traders should take into account the risks involved in trading with unregulated brokers. Additionally, it is crucial to read and understand the broker's terms and conditions before opening an account to avoid any unpleasant surprises.

    Leverage

    LEGO Market LLC offers a high amount of leverage, which can be attractive for traders who want to maximise their trading potential. The maximum leverage offered by the broker depends on the type of account and ranges from 1:200 to 1:500.

    The Standard account offers a leverage of up to 1:500, while the Pro account provides traders with a leverage of up to 1:400. The VIP account also has a high leverage of up to 1:200. It is essential to consider that high leverage can lead to magnified losses; therefore, traders must exercise caution when trading at high leverage levels.

    Traders should keep in mind that LEGO Market LLC operates in an unregulated offshore zone. As such, it is crucial to be mindful of the risks involved and ensure that they have a thorough understanding of the potential dangers of using high leverage before opening an account with the broker.

    Trading platforms offered by Lego Market LLC

    When it comes to the trading platform, LEGO Market LLC offers the MetaTrader 5 (MT5) trading platform for its clients.

    MT5 is a popular trading platform that offers advanced trading tools and features, making it an excellent choice for traders looking for a powerful and reliable trading platform. Some of the features that MT5 offers include a wide range of technical indicators, advanced charting capabilities, and automated trading options with the use of Expert Advisors (EAs).

    MT5 also provides traders with access to different financial markets, including forex, commodities, stocks, and futures. The platform is available for download on desktop systems and mobile devices, allowing traders to manage their trades from wherever they are.

    Non-Trading Fees

    LEGO Market LLC does not provide clear information on its non-trading fees. However, the broker states on their website that they do not charge commissions, withdrawal fees, or deposit fees. Still, it is important to note that there may be fees charged by the payment service providers, such as the bank or credit card issuer, when depositing or withdrawing funds.

    Moreover, as an offshore broker operating from the St. Vincent and the Grenadines, LEGO Market LLC may not adhere to strict regulatory standards, and this raises concerns about potential hidden fees or charges, which could easily eat into traders' profits.

    Deposit and withdrawal methods and fees

    Lego Market LLC is ambiguous about how deposits and withdrawals work. Wire transfers, MasterCard, VISA, Maestro and some e-wallet processors such as Skrill, Neteller, PayPal and others are some of the most frequent and popular payment methods handled by most Forex brokers. The speed of withdrawing funds from a forex broker is also one of the most important factors in building a broker's reputation.

    Educational resources

    There is no education section on the Lego Market LLC website. Many brokers are able to provide a variety of educational resources such as video courses, seminars, e-books, related articles, glossaries that provide some basic knowledge about trading. This is not the case with Lego Market LLC.

    Customer support of Lego Market LLC

    LEGO Market LLC offers customer support to its clients through various channels. The broker provides 24/7 customer service throughout the trading week. Traders can contact the support team via email, phone, and live chat. The live chat option is available on the broker's website.

    The broker's support team is responsive and knowledgeable, and they strive to provide quick and efficient solutions to traders' concerns. The support staff can assist with a range of queries, including account-related issues, technical difficulties, and general inquiries about the broker's products and services.

    LEGO Market LLC also provides traders with an extensive knowledge base, which includes frequently asked questions (FAQs) and trading guides. The knowledge base covers a range of topics, such as account opening, funding options, trading platforms, and trading strategies.

    Below are the details about the customer service.

    Language(s): English

    Email: support@legomarket.co

    Address: Griffith Suite Corporate Centre, Kingstown, St Vincent and The Grenadines

    Social media: Facebook, LinkedIn, twitter

    Users exposures on WikiFX

    On our website, you can see that many users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    users' exposure

    Educational Resources

    It appears that LEGO Market LLC does not provide any educational resources for traders. While the broker's website contains information about their products and services, trading instruments, and account types, there is no section dedicated to educational resources or trading education. Besides, this broker does not have a demo account available for traders to practice their trading skills.

    Conclusion

    To summarize, in our conversation about LEGO Market LLC, we discussed the question of the broker's account types, spreads, commissions, and fees as well as their trading platform, deposit and withdrawal methods. We also talked about the risks associated with high leverage trading and the importance of choosing regulated brokers. LEGO Market LLC does not offer educational resources, which could be disadvantageous for traders who are looking to improve their trading skills. Additionally, it seems that the broker does not provide a demo account either.

    Overall, while LEGO Market LLC may provide competitive features such as low spreads and no commissions, traders should exercise caution in choosing a broker that provides a comprehensive suite of services and tools for their trading journey.

    FAQs

    Q: Is LEGO Market LLC a regulated broker?

    A: There is no clear information on LEGO Market LLC's website regarding regulations. This may be a cause of concern as it is important for traders to choose regulated brokers as they offer greater protection and oversight.

    Q: What trading platform does LEGO Market LLC offer?

    A: LEGO Market LLC provides the MetaTrader 5 trading platform, which is a popular and widely used platform in the industry.

    Q: What are the deposit and withdrawal options available with LEGO Market LLC?

    A: LEGO Market LLC offers multiple deposit and withdrawal methods, including bank wire transfers, major credit or debit cards, e-wallets like Skrill and Neteller, and cryptocurrencies such as Bitcoin and Ethereum.

    Q: Does LEGO Market LLC offer a demo account?

    A: It appears that LEGO Market LLC does not offer a demo account as there is no clear information about it on their website.

    Q: What kind of account types are available at LEGO Market LLC?

    A: LEGO Market LLC provides various account types, including Standard, Pro and VIP accounts.

    User Reviews

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    31

    Comments

    Write a review

    FX1296943052
    more than one year
    Obviously, I didn't make any profit and just wanted to cash out the funds which I deposited into my account. Every time I contacted them, they promised to make a transaction but never did.
    2023-02-28 17:43
    Reply
    0
    0
    FX1206344406
    more than one year
    $10 to open a standard account is an easy threshold, however, its limited trading assets and lack of famous MT4 trading platform stopped me… so hard for me to make decisions…
    2023-02-15 09:44
    Reply
    0
    0
    marubosu528
    more than one year
    I'm sure this broker won't be able to pay the thousands of its members, just imagine if those thousands of people want to withdraw all their capital, I'm sure this broker can't afford it…., so whose fault is it now? traders or brokers?? if I'm not the Broker's fault but the trader is greedy ^^
    2023-02-05 17:39
    Reply
    0
    0
    FX3867287872
    more than one year
    Menorin
    2023-01-27 20:39
    Reply
    0
    0
    arsyadforex
    more than one year
    SCAM, ONE YEAR ACCOUNT CAN ONLY BE VIEWED GK BS WD... MAKES MEMBERS' LIFE SUFFERING....
    2023-01-24 15:28
    Reply
    0
    0
    FX1719363904
    more than one year
    swindler bastard broker
    2023-01-14 02:26
    Reply
    0
    0
    Ayu442
    more than one year
    my three accounts are like demo accounts,, can't wd yet... 🙄😲
    2022-12-31 08:27
    Reply
    0
    0
    iv
    more than one year
    my condolences to the victims, I hope the perpetrators of fraud behind this broker will be caught by the police soon
    2022-12-12 12:03
    Reply
    0
    0
    Fajri Reynaldo
    more than one year
    good broker if it's regulated in Indonesia,, very low spreads, great for scalping👍
    2022-12-04 16:20
    Reply
    0
    1
    H K
    more than one year
    Can't WD, lots of reasons, mostly Drama, Promises are just PHP
    2022-11-29 10:44
    Reply
    0
    0
    FX3469847312
    more than one year
    SCAM!!! can't withdraw
    2022-11-18 07:28
    Reply
    0
    0
    arsyadforex
    more than one year
    Management is not trustworthy, maintenance has been dead for a year... PHP member continues
    2022-11-11 15:15
    Reply
    0
    0
    Rini9526
    more than one year
    Astagfirullah ATG took money for my toddler's milk & his sister's school needs, hopefully they will be rewarded accordingly. the prayer of a mother like me is very effective.
    2022-10-31 16:36
    Reply
    5
    2
    Charoline
    more than one year
    unable to withdraw
    2022-10-31 16:33
    Reply
    1
    1
    Hiro8117
    more than one year
    Scam SOON
    2022-10-31 16:30
    Reply
    5
    2
    Firmawan
    more than one year
    Thank you ATG 5.0 my uncle died today due to late handling due to no FUNDS.
    2022-10-31 16:28
    Reply
    24
    3
    Wahyu5145
    more than one year
    troublesome for the little people and the country...hopefully they get caught soon
    2022-10-31 16:26
    Reply
    10
    2
    kenneth3445
    more than one year
    He read SCAM
    2022-10-31 16:24
    Reply
    6
    1
    Ron1855
    more than one year
    GIVE MY MONEY BACK!!!!!!!!!!!!
    2022-10-31 16:21
    Reply
    0
    6
    Fitri2017
    more than one year
    I inquired about my rights in the ATGI group and ended up being kicked out of the group. I will report it to the police, I have all the evidence.
    2022-10-31 16:18
    Reply
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