WikiFX Review: The score of LAVA PRIME has been reduced due to too many complaints

About LAVA PRIME

Registered in the United Kingdom, LAVA PRIME is an online forex broker with trading experience of 2 to 5 years. The physical address of this broker is 1 Fore street avenue, WeWork moor place, London, England.

Account Types

LAVA PRIME offers three trading accounts to suit different traders trading needs, namely Mini, Standard, and ECN accounts. However, the minimum deposit for each account is not disclosed.

Leverage

Trading leverage varies depending on trading accounts, ranging from 1:200 to 1:800. Problematically, LAVA PRIME permits traders to use the leverage of up to 1:800, which is significantly higher than the levels regarded appropriate by many regulators.

As leverage can magnify gains as well as losses, investors are advised to choose the proper amount that they feel most at ease.

Trading Platform

LAVA PRIME offers its clients access to a popular MT5 trading platform that can be available for Desktop, Mobile, and Web terminals.

Traders can quickly analyze market activity, place trades, and integrate automated systems thanks to this powerful platform's convenient workspace (Expert Advisors). Everything you need to begin trading on the financial markets, including all of the above features, is available in a single, convenient interface.

Customer Support

Traders can reach out to LAVA PRIME about any questions or concerns they may have about their accounts or their trading through the following methods:

Telephone: +44 02038806803

Email: support@lavaprime.com

Regulation: Is LAVA PRIME legit？

LAVA PRIME is not a regulated broker, it does not hold a license from any regulatory institution. WikiFX has given this broker a low score of 1.93/10. WikIFX has marked this broker “No License”

Exposure

As of December 29, 2022, WikiFX has received a series of complaints against this broker. Below are some of them.

Many forex traders shared their terrible trading experience while trading with LAVA PRIME, saying this broker defraud them by stealing their deposited money and rejecting their withdrawal requests.

Typical forex scams work like this: they get you to deposit a lot of money, then manipulate your trading accounts, steal your money, and disappear.

Visit WikiFX for more feedback from actual users

Conclusion

We think it is risky to invest in an unregulated broker with a low score. Too many complaints have shown the problem that LAVA PRIME has. We advise traders to avoid this broker.

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