Brief Look at Leon Markets
Leon Markets, registered in the Marshall Islands, quickly gained a reputation as a fraudulent company. This broker, operated by Zoltect Solutions Ltd, offered trading on more than 420 assets, including currencies, cryptocurrencies, stocks, indices, and commodities. However, shortly after its launch, the broker faced numerous accusations of fraud and client deception.
One of the key indicators of fraud was the lack of regulation. Leon Markets did not hold licenses from reputable regulators such as FCA (The Financial Conduct Authority), BaFin (The Federal Financial Supervisory Authority), or ASIC (The Australian Securities and Investments Commission), which raised doubts about the legitimacy of its operations. Moreover, the company used a web platform that allowed it to manipulate market data and hide real trading conditions, such as spreads and commissions.
Numerous client complaints indicate issues with fund withdrawals. They reported being repeatedly asked for additional payments for "taxes," "fees," and other fictitious charges that never led to successful withdrawals. In some cases, clients were forced to pay for a "loan" they had never agreed to, further worsening their financial situation.
Regulatory authorities, such as the British Columbia Securities Commission and the Canadian Securities Association, issued warnings against Leon Markets, confirming the presence of a fraudulent scheme. As a result, many traders lost their funds, and the company’s reputation was completely ruined.
Currently, the Leon Markets website is blocked, and traders cannot access their accounts or funds.
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
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