Loft Trade has been flagged by Financial Conduct Authority 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.
I looked into Loft Trade and found they appear in the regulatory warnings database. Financial Conduct Authority has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
Several red flags with Loft Trade: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (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 Loft Trade 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.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
The only good thing about Loft Trade is that they remind you why regulation matters. I found them after a family member had a good experience. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Easy withdrawals|Segregated accounts
Cons: Limited demo account features
I invested $1,000 with Loft Trade 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 Financial Conduct Authority.
Cons: No regulatory oversight|Money disappeared|Fake testimonials