LBLV is a broker company based out of Seychelles. It is the trading name of LBLV Ltd. It is only “registered” against its false claims of being “regulated” by the lesser-known Seychelles Financial Service Authority (FSA).
Professional traders are already aware of the basic fact that merely registration at any particular location is no indication about the security in trading with the company. Most important are the details of the regulation and the regulating authority, its jurisdiction and its modus operandi.
Seychelles Financial Service Authority (FSA) is a recently authorized body that has its jurisdiction over the Seychelles area only. It is responsible for the non-banking financial services registration in the region. It has been established long before but they do not have any authorization of issuing forex trading regulation licenses to the investment companies. In order words, FSA simply maintains the registers of the companies about their necessary details.
There are many established financial regulating bodies like the UK Financial Commission Authority, Cyprus Securities and Exchange Commission (CySEC), etc. which observe a good reputation among the traders. A regulatory body must obey strict laws and regulations in issuing forex licenses to the broker companies. They are the sole pillar of help, in case, the traders are stuck in fraudulent transactions or the company went bankrupt. The potential of forex trading invites huge scams and frauds which can be best controlled by a strict unbiased vigil of the regulating body.
Read full review at www.skeptictank.org/lblv/