LECS Crypto Review
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Review
Fast Facts
Contact Info and Support
Traffic information
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About LECS Crypto
LECS Crypto (operating via cryptolecs.com and related domains) is not authorized by any known financial regulator and is listed by the UK’s Financial Conduct Authority (FCA) as an unauthorised firm under the name “CryptoLecs” with website cryptolecs.com. The FCA’s warning, published May 17, 2023, advises consumers to avoid dealing with it due to the absence of FCA authorization, highlighting that any investments would lack protection via the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).
The broker also falsely claims regulatory oversight from the Belize Financial Services Commission (Belize FSC) under license number 30/307/FS/28 and from the Mauritius Financial Services Commission (Mauritius FSC) under number L440360052; however, searches in those agencies’ registries yield no records, confirming these claims are unfounded.
Furthermore, the Bank of Russia has identified LECS Crypto as exhibiting signs of an illegal professional securities market participant. The domains flagged include cryptolecs.com, trade.cryptolecs.org, cryptolecs.co, and cryptolecs.net. This inclusion appears in the regulator’s warning list dated January 31, 2023.
Pros and cons
Pros
- No verified regulatory credentials or protections
Cons
- Unauthorised by FCA (UK); no access to FSCS or Financial Ombudsman Service
- False claims of licenses in Belize and Mauritius
- Flagged by the Bank of Russia as an illegal securities participant
- Multiple cloned domains indicating fraud or scam activity
