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Gerard Moore 21 / November / 22

LST-IC: “Scammers are improving their tactics”

LST-IC tips for recognizing scammers
Visitors: 104 Rating: ★★★★★

How can we make sure that the Forex broker we are planning to deal with is not a scammer? What is the difference between a scammer and a legit broker? What are the favorite fraudsters’ tricks? We took a chance to ask these and other questions to one of LST-IC representatives.

Question: To begin with, how would you characterize the situation with scammers on Forex market?

Jonathan Singh, development director of LST-IC: There are still a lot of them. Which means their tricks are still working.

Q: What is the reason for that? Are these some new fraud schemes or they are using some classic things of this kind?

JS: There are some sophisticated schemes, of course, but the bulk of successful fraud attempts that we saw were based on things invented long ago and still being successfully used. According to LST-IC recent scam review, over 90pc of the fraudsters are not inventing something new, they are using the existing methods and techniques. But scammers are improving their tactics: there are cases when one and the same company successfully uses several different patterns at the same time, for example.

Q: Could you name some of these fraud patterns, which are well-known but are still in use?

JS: Sure. It may sound surprising, but first thing coming to my mind is Ponzi scheme – it just never gets old. And some of them are still quite successful in terms of money stolen despite the fact that the scheme was described in all textbooks years ago. It is simple to detect though. If you see that your referral bonuses are bigger than your revenues from trading – you are somewhere closer to the bottom of the pyramid, leave it immediately.

Q: But LST-IC itself has some referral program, hasn’t it?

JS: Medifinance Ltd is a legit company earning on commissions. There is a partnership program to promote the platform and to attract new clients, but it is something different. Putting it simply, we are not paying the existing clients to attract new ones. That program is definitely not the reason to call LST-IC fraudsters.

Q: What is LST-IC key anti-scam recommendation for potential clients?

JS: Do your own research, that is the key anti-scam tactical pattern recommended by LST-IC. No matter how complicated the fraud scheme is, they will not get your money without your participation. Just be attentive to the details and read documents you are about to sign till the very end. Take your time, if needed, ask questions – don’t do anything when you are not sure enough.

 Q: Is there any kind of algorithm of this research?

JS: Try to get to know about your broker as much as possible before giving it your money. No matter where you start with – official website, or scam reviews on the web, just make sure you are not missing anything. And think twice every time when something seems suspicious to you, don’t be afraid to ask questions. If you want to ask if LST-IC is legit, for example, we have a whole support department at your services. Besides that, there is quality control department, whose work is not seen from outside but also very important.

Q: You didn’t mention various Forex broker scam lists, why?

JS: Because very often they are composed or stimulated by competitors, that is how Forex market competition look like nowadays. Say, you find the article saying something Forex brokers A, B, and LST-IC are scammers. But it usually it consists of two key ideas – the second would be like “better bring your money somewhere else, maybe you should consider giving them to broker C”. The funniest thing that the scammers are also using this tactics, trying to position themselves as those C companies.

Q: How do you react if you see somebody calling LST-IC scammers?

JS: There are different situations. If may be the result of some issue, or just outburst of emotions, and we take measures to fix that. But if we see that it is done intentionally, like somebody calls LST-IC fraudsters to undermine our reputation, we have a full specter of legal means to react.

 Q: Speaking about scammers tricks – LST-IC itself supports deposit and withdrawals in crypto, which is considered a disturbing sign by many observers. How would you explain that?

JS: Fraudsters like crypto because the transaction there can’t be rolled back, indeed. So it would be disturbing if the crypto was the only payment method available, really. But in our case it is just one of them. There are clients who find it faster and more convenient. You can support crypto payments and still be a good broker, this is not a problem. Nobody would include LST-IC into their scam reviews for that only reason.

Comments 26
user_avatarFrensis Ostin 05.12.2022

The Forest broker Lst-Ic bribes with its simplicity and loyalty. Registration consists of a simple form and in 5 minutes there is an account, but with verification is not so fast as we would like it. Personally, I had to wait 1.5 days until everything was verified. But, this is the only disadvantage I could find. If there are others, the review will be added.

user_avatarPol Rodzher 06.12.2022

There have been enough scams in my life. This is not one of them. 1.5 years of conscientious cooperation and honest payouts, proves that it is possible to work with the broker.

user_avatarGrir Dzhon 07.12.2022

My first impression was deceptive. I have read the terms and conditions and it seemed that Lst-Ic is not more than a scam, but one good friend convinced me otherwise. I had a good friend and he showed me my payout statements, told me about his experience and how the interface is designed. My broker has been here for more than half a year and I have not regretted my investment.

user_avatarUilkerson Tobi 08.12.2022

The broker is really good. I have worked with worse companies on less favorable terms. I have worked with worse and less profitable brokerage services. I have never had any commission for some of the payment systems.

user_avatarBarker Maykl 09.12.2022

The company is good. I always felt that I had the best side. I haven't contacted the support yet but I have already got acquainted with the quality of training account. I have never been cheated on the withdrawal, so I responsibly declare that Lst-Ic is not a pyramid or another scam.

user_avatarParker Dzhordzh 10.12.2022

I don't really like to write reviews, but this company definitely deserves attention. I will give my best for the training because I have got new knowledge in this field, in spite of the fact that before this company I seemed to know everything very well.

user_avatarDevidson Dzhob 11.12.2022


user_avatarO’neal-o’nil Pol 12.12.2022

As for me, the service offers top conditions for beginners. The training alone is worth a lot. The training alone is worth mentioning. And yes, it's free, as is the demo account. I like how everything is set up and how fast it works. I registered in 5 minutes. Only thing is, verification took about a day.

user_avatarUilkerson Dzhordzh 13.12.2022

Brand Lst-Ic doesn't do scams or anything illegal. I liked that the documents are in the public domain, which means nothing is hidden from the customers. I like this approach.

user_avatarMyorfi Ronald 14.12.2022

I have been looking for a good broker for a long time and finally got lucky. I like it all except for the fact that I can only use my demo account for a month.

user_avatarUotts Metyu 15.12.2022

I will not call Lst-Ic a scam because I do receive payments and no one assigned hidden fees. I can't call Lst-Ic a broker disadvantage if the leverage is not big enough but nevertheless it is very good.

user_avatarMenning E­tan 16.12.2022

I will not change the broker for sure. Everything is on the level. I recommend to contact the support team if you do not understand something, it works great.

user_avatarFitczdzherald Dzhon 17.12.2022

I have never been able to affiliate with any broker, and in fact I have never been able to buy from any broker. However, Lst-Ic is not a scam, but a really working platform with good spreads and reasonable commissions. I have never worked with Kaspersky Lab and I've never worked with Kaspersky Lab.

user_avatarAndervud Charlz 18.12.2022

I have never been used to trade with Kauffman. I have a good impression of the variety of accounts and I have liked the variety of training accounts. I liked the variety of accounts and the demo account. I'm sure it is not worse than others. I have been on the market for the second month.

user_avatarBennett Leonard 06.01.2023

The Broker is already in the Market for Almost 15 Years! This facttracted me Primarily When I Deceded to Trade with LST Inc OR NOT. In Different Competitions, Again He Participated, More than Once Won. This is also a plus for them. I Hope They Will Not Let Mee Down in the Future.

user_avatarPitts Homer 11.01.2023

It seems to me now you can make good money by trading in oil. I Personally Are Ding this Now. It is good my brocer LST Inc has oil contraacts, and you canting thrading Tool to Trade. By the Way, This Income Indicator Helps to Determine What is now in the Trend and What is Better To Trade.

user_avatarMarshall Aubrey 15.01.2023

By the number of shares and bonuses LST Inc axa of the best. A LOT of Attend to Beginners is Paid to the Company, Stimulatte Them To Trade and that Would Not Go Anywhere, this is Right. If the foundation is normal in trade, the results Will Be.

user_avatarWoods Gerald 27.01.2023

I Liked the Unobtrusivence of the Company, You Trade Calmly and the Broker does Not Climb, and does not intertfer with earning. The Broker Has His Own Work - To Serv Software and Warrants, With LST Inc Copes Well. I Periodically Remove the Profit, They Give Here on Time, I Hold My Eyes that is No Need to Tempt Accumulation of Money on His Own Account.

user_avatarBradley Emery 01.02.2023

I Want to Say That Forex Broker LST Inc Really Deserves Trust. Not That I am Very Naive, and I’ll Carry All the Money Here, But At Least it’s Better in LST Inc to Other Brokers. I can already say a veteran (not by year of course, but not a starter), I have been trading for more three Years. Other Brokers and Other Brokers are Behind Me, But I Won’s, So the Story of the LST InC Braker with I now and On ITopped as Mainly. There are an Order of Magnitude Less Unpleasant Moments than Wherever I Tradeed Before. UNFORTUNATELY, YOU CAN’T GET ANYWHERE from Slipping and Those Failures. But hera it is much Less Common. ALSO, I Can Not Help But Praise LST InC Broker for High -quality Trade Service - Good Speed and Lack of Requests. I do not Take the Courage to Judge A Good LST InC Broker Or Bad. I Say That in Comparison with Those I Tradeed, LST InC IS On Top. I Don’T EVEN NEED to Talk ABOUT ENTERING AND ConCLUSION, In this Regard, EVERYTHING IS ALSO AS IT ShOULD BE, According to the Protocol!

user_avatarRodgers Branden 11.02.2023

For a long Time I DID not Dare to Start Working on Forex or Not. I Read ABOUT THE MARKET ABOUT BROROKERS. The Stories are A Million, Evenyone Has Radically Different. Of Couurse, You canb into the Millionaires, but I Think You Can Earn It. BUT FIRST YOUNED To Gain Experience! I Invested in LST InC, A Central Account! More Recently, I Replenined the Account, Deceded to Start with An Adviser. The Other Day I See Several Transactions are Open. An adviser Like Profit Promises 0.01% per day. I Decided to Increase the Lot and Put the Adviser to Two Currency Pairs at the Same Time. IF YOU ARE LUKKY, I Can Increase The Profit, and IF YOU ARE NOT Lucky, I Will Lose A Few Dollars. I DID This in the Morning. In the Evenging I Went to the Computer and Was Shocked, Because The Profit Increased BY 10%. I Don’t Know How Significant, But Nice! SO, Little by Little, I Try to Earn Money in Scanty Transactions. And the Broker LST InC IS Wonderful in My Opinion! Always at Hand Support, While I Met the Terminal, There Were Many Questions. Many Additional Services for Trading and Tools Are More than Enure.

user_avatarHamilton Edward 25.02.2023

The Platforms of the Broker LST Inc Were Very Attracted. I Know That Many Work, But the Conditions of LST InC Plus The Platform Is the Most. FIRSTLY, The Metatrader Is Quite Simple in Management. EVERYTHING IS CLEAR almost the first Time (Practically, Because for Beginners, In Principle, EVERYTHING IS Incomprehensible). Secondly, The Broker Makes it Possible to Download the Platform on the Phone (and with it i almost always and evenwhere, I can go and trade beluga ’m going home). IT Works Perfectly on an Apple Phone! There is always The Opportunity to Control The Market. As for the LST InC Broker Himself, There Are No Shades and They Can Hardly Be. Customer Support is Qualitate Debugged, I do not Mean The Analysis of Complains, But in the Trade Plan. So Many Services are Realli Small Where You Can Find! The Number of Tools Is Really Amazing. Actually, The Broker Buys ImmediaTely on the Site, My Eyes Scatter, I Want To Trash Evrything. As for Trade, EVERYTHING IS Quite Comfortable. I DID Not Observe Systematic Failures in Transactions. Welll, The Most Important Thing is Money!

user_avatarPearson Gerald 26.02.2023

I am not a Big Forex Connoisseur and Its Still Not Clear to ME HOW PEOPLE MAKE A LOT of Money on this. For this risky occupation, I was Promoteed by Book That Came to My Hands. IT Described the Stories of Ordinary People Who Became Successful Traders. I read it from Crust to Crust, Consulted with Knowledgeable People and Deceded: I can do to too! At That Time, I Had Only $ 300 Free Funds that I Cold Invest in a Broker as an Initial Deposit. TheFore, The Circle of Suitable Companies Narrowed. I ALSO DID Not Want to Merge EVERYTHING AT ONCE, So I WAS LOOKING FOR THE Opportunity to Trade on Central Accounts. At first first i Played on the demo Accounts of Different Brokers, But I Realized that this Would Not Budge. I First Learned ABOUT LST InC from AdverTting on the Internet and Followed the Link. I WAS Interested in the No Deposit Bonus and Trade Conditions, Because There Was Just EVERYTHING that I WAS LOOKING FOR. And I Thumbht, Why Not Practice Here For Free, and the Invest Your 300 $ 300? I DID SO, At the Same Time Getting Acquainted with A Wide Range of Company Services. Starting the Practice with Copying Other Tradeers, I Made a Small Profit Even On Bonus Funds, Which Impressed Me Very Much. AFTER Investing Your Money, The Percentage of Profit Onlyated. Now I Actively Study Trading Stratgies and Try to Predict on My Own, On the Basis of Analytics, Which I Also Take Only from LST InC. But I felt the real taste of trading when I received the output of the first $ 100. This happened only three months after the start of trade, and I must say that this operation, together with the verification, was promptly. I am Very Glad I Had Chosen a Broker So Successfully and Now I Advise Him To My Friends.

user_avatarStanley Summers 01.03.2023

I was able to find all the information and resources I need to make reasonable trade decisions. The customer service that I experienced in LST Inc was excellent.

user_avatarJames Hawkins 19.03.2023

LST InC is always ready to answer my questions and were very well aware of the markets and various trade strategies. I never had any problems with my account

user_avatarKenneth Lopez 20.03.2023

The structure of pricing in LST Inc is also very competitive. They offer competitive spreads and low commission, which allows you to easily trade without large costs.

user_avatarJonathan Jones 31.03.2023

I found that I could make profitable transactions with the OTC, not at risking big money. I can find all the information and resources I need to make reasonable trade decisions.