Lavandbit Summit (lavandbit.com) has been flagged by Australian Securities and Investments Commission for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The platform at Lavandbit Summit (lavandbit.com) is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for a few weeks now of dealing with this, I have had enough.
Pros: Customizable dashboard|Risk management tools
Cons: Minimum deposit could be lower|Minor UI glitches occasionally
KYC with Lavandbit Summit (lavandbit.com) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Instant funding|Real-time alerts|Multiple order types
Cons: Withdrawal takes 1-2 business days
Where do I even begin with Lavandbit Summit (lavandbit.com)? for nearly two years of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Instant funding|Segregated accounts
Cons: Limited ETF selection|Alert system is basic
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Flagged by international regulators|Due diligence required
I referred a friend to Lavandbit Summit (lavandbit.com) after seeing their ad online. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Clear documentation|Responsive team
Cons: Limited cryptocurrency options
Several red flags with Lavandbit Summit (lavandbit.com): (1) They promise unrealistically high returns, (2) They're not registered with Australian Securities and Investments Commission, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises
Tried to withdraw my funds from Lavandbit Summit (lavandbit.com) and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I invested $2,000 with Lavandbit Summit (lavandbit.com) after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Australian Securities and Investments Commission.
Pros: Professional looking website
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I have been trying to close my account with Lavandbit Summit (lavandbit.com) for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Multi-currency support|No hidden fees|Stable platform
Cons: Spreads widen during volatile periods