LST-Ic experts: Scammers promise too much

Despite the fact that Forex like any other flourishing market is crowded with scammers, detecting them is not too difficult. When you know how the market works, of course. But what if you don’t? You still have a wonderful chance to use the knowledge of someone else. Our scam review prepared together with LST-Ic representatives can be a good point to start exploring this market.

Good news for starters – Forex market may seem difficult, but when it is about detecting fraudsters, it is definitely not as complicated as rocket science. An experienced trader can detect a scammer pretending a good broker to deal with just in couple of minutes or even faster. Would you like to have the same X-ray vision and preferably not because of bitter experience? We’ve thought you would. That’s why we’ve asked executives of Forex broker LST-Ic several question on scammers, their distinguishing features, their approach and tactics in general.

Question: What is the first feature of a Forex scammer that comes to your mind?

Jonathan Singh, LST-Ic development director: Scammers promise too much, that is the first thing to know. If you see a company saying “we will give this and that, and here’s some more, it’s free, and don’t forget your bonus for signing up, just relax and we’ll earn you some money” – just close the tab with their website and look for some other brokers.

James Lee, LST-Ic CTO: True that. I would also mentioned “guarantees” of anything, like bonuses, profits, whatever. It’s trading, you know, nothing can be guaranteed here. LST-Ic is a legit broker, and our message is very clear – we don’t guarantee profits and can’t offer risk-free deals. Not because we don’t want to, but because it is nonsense.

Q: So if the broker doesn’t offer anything special it is legit?

JS: Not special, but anything unrealistic, that would be the right formula. What is broker’s role? To offer you gifts and bonuses and earn money for you? Nope. As James said, LST-Ic is legit broker – we provide you the opportunity to trade and tools to do it as easy as it is possible. Not more, not less.

JL: And another thing – we never ask you to invest more money, never advice to do so, and never offer you anything in exchange for additional funds deposit. You are the only one to decide on your deposit’s size. Unlike scammers, LST-Ic doesn’t do it.

Q: And what are the key features of good broker to deal with?

JS: Take a tour; examine its website for several minutes. It is enough to understand what company is, where it is registered, to find its contact details and to understand what exactly it does and how much does it charge for it. If you are not able to do it – you are most likely wasting your time and risking your money.

JL: Yet another characteristic feature: good broker would answer your questions. It doesn’t matter what exactly you ask – either you want more details about the company or you need some further explanations. Unlike LST-Ic, scammers just don’t have enough time and resources for that.

Q: OK, you say LST-Ic is legit, but what if I find some scam list which mention your company among fraudsters?

JS: I would not trust these scam lists much. It is the favorite trick of some competing brokerages – “most of our competitors are scammers, just look”. Just call LST-Ic fraudsters is definitely not enough. Always ask yourself if there are facts behind the statement.

JL: Simple situation – let’s say I am a client, and I am sure that LST-Ic are fraudsters. What would I do? I would write a review and call LST-Ic fraudsters, let other people know it. I am not going to look for 9 more scammers to create a top 10 Forex scammers, or 19 more to create top 20.

Q: Sounds reasonable. What about typical scammer tricks, how do they make people give them money?

JS: They are using all possible ways to introduce themselves to their potential victims, and as we said before, their offers are about anything but trading itself. We say “come trade with us, our platform is fast and reliable”. They say, for example, “deposit just EUR1000 and win brand new Ferrari”. 

JL: Most of their tricks are for beginners who know nothing or almost nothing about Forex and trade in general. Who needs sophisticated schemes when good old frauds work perfectly? Therefore, you can protect yourself. If you know, for example, what pyramid or Ponzi is, how it works, you most likely would recognize them anywhere. Some basic knowledge on market principles would be enough to start with, and the rest comes with practice. Fraudsters are far not so dangerous when you know the way they think and act and when you avoid unnecessary risks.

Johannes Röll

Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer

Comments 19

Dikkerson Bennet 04.12.2022

Well, it was my turn to share my experience. This time I was lucky and passed by the scammers. That's already good. The broker is standard, but reliable. I receive payments regularly.

Mey E­ntoni 05.12.2022

Lst-Ic not a fraud. I have been with the company almost since day one and there have been no misunderstandings or disputes. It works like Swiss watch. I have been doing affiliate work recently. Not a bad addition to the budget.

Robinson Semyuel 05.12.2022

I work with a personal account manager who not only guides me through the market but also gives me accurate trading signals. I started with standard account and now I make up to 35% profit per month. I have not lost any money yet.

Maksvell Kerri 06.12.2022

I would like to say that Lst-Ic scammers and they screwed me, but no. Payments are weekly, own software, analytics and free training. without reason do not block.

Dzhenkins E­tan 06.12.2022

They do not block for no reason. You can only trade if you are verified and the broker's verification is quite serious. I waited for a few hours, but they did not give me any money. The broker does not do anything for free, the service quality depends on it. The broker has no requotes but has built-in financial advisors.

Franklin Dzhordzh 07.12.2022

When I first met them I was firmly convinced that Lst-Ic is not more than a scam. I am glad that I was wrong. I liked the affiliate program and order execution.

Fitczdzherald Ross 08.12.2022

I liked the affiliate program of the broker. I liked the affiliate program of the broker. The reviews are more or less true. Nothing too obvious, but they provide free training.

Arnold Deniel 09.12.2022

I did not believe that Lst-Ic could be a common scam. And for good reason. In practice the broker has proved that it is trustworthy and that this is not a scam. I got the payment in 3 days.

Melton Kristofer 10.12.2022

I am very satisfied with all my trading robots as I have never made such kind of deals. I do not like spontaneous decisions so I studied everything as much as possible. I have a good site and good mobile application. It has a very good mobile app. The only thing is that you have to wait for the withdrawal for a few days.

Tomas Pol 11.12.2022

The only problem is that the withdrawal has to wait several days. I don't remember where but I read somewhere that Lst-Ic cheaters with a lot of debts, etc. as a person who has been working with the company for more than 3 years, I can say that this is a machination of the competition. Clients are always paid, there are reports on the website, which basically proves otherwise.

Fletcher Denis 12.12.2022

There are microlots in the stock market. It is convenient for beginners and those who cannot start with a large deposit. If there are delays in order closing, they are practically imperceptible. If I wanted to buy more forex in this broker, I would not buy more forex but I will buy more forex in a week.

Huver Kennet 13.12.2022

I am working with an affiliate broker. The broker I work with would be very unbiased and I don't think they would open accounts with me. For active clients I get $ 150 a month and I'm normal.

Hit Piter 14.12.2022

The broker is as loyal as possible, especially if the rules are not violated. I don't have any problems with it. I have not even used support services yet.

Metyus Brayan 15.12.2022

I am earning on partnership and it is enough so far. For new clients I get 20-30 dollars, plus incentives for their activity. If Lst-Ic was a scam, it is unlikely there would be more than 100,000 clients.

Brayan Reynold 16.12.2022

Re-insured, so after entering into an electronic contract, asked for a paper copy. I understand that it does not make much sense, but it gave me peace of mind and increased the level of confidence in the broker.

McDonald Bryce 02.01.2023

When I Read the Reviews o LST Inc, I Notrided the Say ABOUT THE FACT THEIR CONCLUSIONS ARETANT. I deceded to check if this is so. He Opened a Central Account from Them, Dispersed It a Little. And Made An Application for the Withdrawal Through A Mobile Payment. The Money Came, I Cut Its, Within 8 Minutes! So the Reviews Do Not Lie. The Conclusion of the Ff Is Definitely High -quality.

Johnson Neil 18.01.2023

It is Very Convenent that a Newcomer May Start Selling at Least $ 10. IF it loses, The It Will Not Cry Much. In Addition, There Are Offten All Sorts of Bonuses for Beginners Who Can Be Tradeed and Not Risk. In General, To Decide with Whom to Trade, My Advice, Open a Couple of Demo Accounts with Different Brokers. And Try to Trade. Many Questions Will Disappear by Themselves.

Davis Thomas 28.01.2023

Now it is the same with oil. The Price of Oil is Growing, Which Means that You Can Make Good Money on this. Moreover, LST Inc HAS OIL Contracts and Very Tempting Conditions for Fuel Trade. In Particular, They Canceled Swaps for Fuel. And this is Very Profitable.

Henderson Walter 28.01.2023

LST Inc The Market is Over 15 Years Old. There are not Very Many Brokers with Such Experience. And They Also Plus that Evear Thear They Introduce New Services and Lotions. I have been working with them for 5 years, so I can alread be called an old -timer. And During this Time there were no violats from the Broker. I Mean All Sorts of Twists, Paintings, etc.