Loyal Brokers Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
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I made a withdrawal order yesterday but haven't received the money yet. It's still in Pending status because the other IB friend blocked it, so I have no way to withdraw it. Please help me.
SCAM FLOOR YESCOM renaming. IT BRILLED THE FLOOR, robs MANY PEOPLE'S MONEY AND MOVES TO THIS NAME
Loyal Brokers has emerged as a controversial player in the forex brokerage landscape, attracting both interest and skepticism from traders. This review consolidates various insights from multiple sources, revealing a broker that offers a wide range of trading instruments and high leverage, but raises significant concerns regarding its regulatory status and user experiences. Notably, it operates without valid regulatory oversight, which poses a considerable risk to potential clients.
Note: It is crucial to recognize that Loyal Brokers operates under different entities across regions, and this review aims for fairness and accuracy by evaluating multiple credible sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 4 |
We score brokers based on user experiences, regulatory status, and available features.
Founded in 2023, Loyal Brokers claims to offer a comprehensive trading experience with access to a variety of financial instruments. The broker operates on the MetaTrader 5 (MT5) platform, well-regarded for its analytical tools and user-friendly interface. Traders can access over 60 forex currency pairs, precious metals like gold and silver, along with various CFDs and stock indices. However, it lacks a valid regulatory framework, which raises significant concerns about its legitimacy.
Loyal Brokers operates primarily in regions where regulatory oversight is either minimal or non-existent. The company is registered in Montenegro, and as such, it does not comply with stringent regulatory standards set by top-tier financial authorities like the FCA or ASIC. This absence of regulation is a critical red flag for potential clients.
Deposit and Withdrawal Options: The broker supports multiple payment methods, including bank transfers and cryptocurrencies like Tether (USDT). However, users have reported difficulties in processing withdrawals, which adds to the skepticism surrounding its operations.
Minimum Deposit: The minimum deposit to open a trading account is set at $100, making it accessible to novice traders. However, higher-tier accounts require larger initial investments, which may deter some users.
Bonuses and Promotions: There is no clear information regarding any promotional bonuses or incentives for new traders, which is often a common practice among more established brokers.
Trading Instruments: Loyal Brokers offers a decent array of trading instruments, including forex, precious metals, stock indices, and CFDs. However, the lack of cryptocurrencies is notable, especially given their growing popularity among traders.
Costs: The broker does not specify its spreads, fees, or commissions on its website, which can lead to hidden costs for traders. The maximum leverage offered is up to 1:500, which is attractive for high-risk trading strategies but also increases the potential for significant losses.
Allowed Trading Platforms: As previously mentioned, Loyal Brokers utilizes the MT5 platform, which is known for its advanced trading capabilities. However, the absence of a demo account limits new traders' ability to practice before committing real funds.
Restricted Regions: The broker does not provide clear information on restricted regions, but it has been flagged in various reviews as operating in high-risk areas.
Customer Service Languages: Customer support is available in English, but the quality of service has been criticized, with reports of slow response times and inadequate support.
Account Conditions (5/10): The minimum deposit is relatively low, but the lack of transparency regarding account types and conditions raises concerns.
Tools and Resources (6/10): The MT5 platform provides excellent analytical tools, but the absence of educational resources limits its appeal to novice traders.
Customer Service and Support (4/10): Users have reported difficulties in reaching customer support, raising concerns about responsiveness and effectiveness.
Trading Setup (5/10): While the platform is user-friendly, the lack of a demo account and unknown trading conditions create a less-than-ideal trading environment.
Trustworthiness (2/10): The absence of valid regulation and numerous reports of withdrawal issues significantly undermine the broker's credibility.
User Experience (4/10): Overall user experiences are mixed, with some praising the platform's capabilities but many expressing frustration with withdrawal processes and customer support.
Account Conditions: While the minimum deposit is appealing, the absence of clear information on account types and trading conditions can lead to confusion. According to WikiFX, the broker has been flagged for its suspicious regulatory status, which is a significant drawback for potential clients.
Tools and Resources: The MT5 platform's advanced features are a plus, but the lack of educational resources for new traders is a notable downside. As per PediaFX, the broker does not provide bonuses or promotions, which limits its attractiveness compared to competitors.
Customer Service and Support: Reports of inadequate customer support are concerning. Users have mentioned slow response times and difficulties in processing withdrawals, which are critical aspects of any trading experience. According to WikiBit, clients have struggled with withdrawal issues, further eroding trust.
Trading Setup: The trading environment is marred by a lack of transparency regarding costs and conditions. Users have expressed frustration over the absence of a demo account, which is essential for new traders to familiarize themselves with the platform.
Trustworthiness: The broker's unregulated status is a significant concern. As noted by WikiFX, it has been flagged for high potential risks, making it essential for potential clients to exercise caution.
User Experience: Overall, user experiences are mixed, with some traders appreciating the platform's capabilities but expressing frustration with withdrawal processes and customer support issues. According to Forex Peace Army, many users have reported difficulties in accessing their funds.
In summary, the Loyal Brokers 2025 review reveals a broker that offers a range of trading instruments and high leverage but operates without valid regulatory oversight. Potential clients should approach with caution, considering the mixed user experiences and significant concerns regarding trustworthiness and customer support. Overall, while the platform may appeal to some traders, the risks associated with trading through Loyal Brokers cannot be overlooked.
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