Lenz Capital Review – 5 things you should know about lenzcapital.pro

Beware! Lenz Capital is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Lenz Capital is nothing more than another shady, anonymous broker that has very little to offer. This is definitely a scam scheme – it has been deemed as such by a respected EU financial authority. There were many problems with this broker – from the horrible spreads to their devious bonus scheme. We would recommend avoiding such schemes and only trading with licensed, reliable enterprises.

Lenz Capital Regulation and Safety of Funds

Lenz Capital did not provide specific information about its location – in fact, the broker barely provided any sort of contact information. The only way to reach them is via e-mail which is hardly ideal – you would only be able to contact the broker when it is convenient for them. No legitimate broker would leave you in the dark in this manner – in fact, such companies usually provide license numbers as well as a ton of information about themselves.

Another thing that is particularly bothersome is the fact that this company has been deemed to be a scam by the Spanish financial regulator CNMV.

Such warnings are never to be ignored because they almost certainly mean that we are dealing with a fraudulent scam scheme.

What we would recommend you do instead is turn to a broker licensed in a strict jurisdiction such as the UK, the EU, or Australia. Such brokers are usually very reliable because they have to report to strict authorities and meet a wide number of specific requirements before being able to offer services to clients.

Lenz Capital Trading Software

Lenz Capital offered access to a standard web-based trading platform:

Such platforms might initially seem like a good choice because they are quite easy to navigate but they are far from the best software you could trade on. The number of tools and features they offer is quite limited – your trading experience on such a platform would surely be quite lackluster.

What we would recommend is checking out brokers that offer highly functional platforms like MetaTrader 4 and MetaTrader 5 – two industry leaders that have managed to remain popular for decades and win over millions of traders.

Lenz Capital Trading instruments

Lenz Capital offered access to a decent range of instruments across a variety of markets – forex, shares, commodities, indices, and cryptocurrencies. This is the same range of instruments most legitimate brokers can offer – there is zero point turning to scammers.

Lenz Capital Spreads and Cost of Trading

Lenz Capital’s spreads were all but impressive. We got around 3 pips on EURUSD and USDJPY and as much as 4 pips on GBPUSD. Most brokers try to keep their spreads much lower – around 1.5 pips – but finding a broker that can offer even better rates would not be very hard. Trading with these scammers will not seem very affordable when you are forced to pay $30-40 per lot just to be able to trade.

Lenz Capital Maximum leverage

Lenz Capital offered maximum leverage of 1:100 across all markets. This proves with complete certainty that they could not be regulated in a number of jurisdictions. Brokers in the UK, the EU, and Australia cannot offer leverage higher than 1:30 while those in the US cannot go above 1:50. The reason for this restrictions is that trading with high leverage could result in far bigger losses – especially if you are an inexperienced new trader. That is why we always recommend caution when it comes to leverage – only trade with rates you are sure you can handle.

Lenz Capital Deposit and withdrawal methods

Lenz Capital only accepts deposits made with a credit/debit card or in crypto. However, if you want to deposit more than $1000, crypto would be your only option.

We would not recommend that you deposit in crypto unless you are completely sure you can trust the broker – such transactions are both anonymous and irreversible. If you have transferred money in this manner, you would not be able to get it back at a later point.

Visa/MasterCard transactions on the other hand can easily be reversed within 540 days – if you have already used this deposit method make sure to ask for a chargeback as soon as possible.

Lenz Capital Minimum deposit

Opening Lenz Capital’s cheapest account type costs $300. That is fairly standard – however, plenty of legitimate brokers would ask for much less, even for as little as $10 sometimes.

Lenz Capital Withdrawal requirements

Lenz Capital seems to have attached some quite questionable clauses to its bonuses:

If you have received a bonus, you would have to reach an unspecified minimum trading volume before being given the chance to withdraw. This is not a condition a legitimate broker would ever have – in fact, no legitimate broker would prevent you from getting access to your own money. This is a scammer trick you should look out for – always read the Terms and Conditions carefully before agreeing to anything.