Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

Lilium

United Kingdom|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|United Kingdom Payment License Revoked|Suspicious Overrun|High potential risk|

https://lilium-markets.com/

Website

Rating Index

Contact

+44 731697006
support@lilium-markets.com
https://lilium-markets.com/
https://www.facebook.com/lilium.markets/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 731697006

Broker Information

More

Company Name

LILIUM MARKETS LTD

Company Abbreviation

Lilium

Platform registered country and region

United Kingdom

Company website
Twitter
Facebook
YouTube

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 9
Previous Detection : 2024-06-17
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
  • The number of the complaints received by WikiFX have reached 71 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • United KingdomFCA (license number: 913607) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • United StatesNFA (license number: 0545190) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United Kingdom FCA(license number: 913607)Payment services Non-Forex License. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0545190)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Lilium · WikiFX Survey
Danger A Visit to Lilium in UK - No Office Found
United Kingdom

Users who viewed Lilium also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

IC Markets

8.92
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

FXCM

9.45
Score
Above 20 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

Decode Global

8.36
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website
Pyramid scheme complaint
Expose

    Lilium · Company Summary

    Note: For some unknown reason, we cannot open Liliums official site (https://lilium-markets.com/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

    Lilium Basic Information
    Company Name Lilium
    Founded 2019
    Headquarters United Kingdom
    Regulations Not regulated; flagged as a scam broker
    Tradable Assets Stocks, ETFs, Forex, Indices, Commodities
    Account Types Standard, Premium, VIP
    Minimum Deposit 100 USD
    Maximum Leverage 1:500
    Spreads From 0.1 pips
    Commission From 0.00 USD per lot
    Deposit Methods Credit/debit cards, Bank transfer, PayPal, Skrill, Neteller
    Trading Platforms WebTrader, MetaTrader 5 (MT5)
    Customer Support Phone: +44 731697006, Email: support@lilium-markets.com
    Education Resources Blog, Webinars, Trading courses, Ebooks, Glossary
    Bonus Offerings None

    General Information & Regulation

    Lilium, a trading name of LILIUM MARKETS LTD, is allegedly a financial company registered in the United Kingdom.

    This broker offers a diverse range of tradable assets, encompassing stocks, ETFs, forex, indices, and commodities. Traders can choose from three distinct account types, each tailored to different needs, with varying minimum deposits and leverages. Lilium provides access to two trading platforms, including WebTrader and MetaTrader 5, accommodating traders looking for simplicity or more advanced features. As for regulation, it has been verified that Lilium has an exceeded Financial Conduct Authority (FCA) license and an unauthorized National Futures Association (NFA) license. That is why its regulatory status on WikiFX is listed as “Illegal” and it receives a relatively low score of 1.43/10. Please be aware of the risk.

    General Information & Regulation
    regulation
    regulation

    Pros and Cons

    Lilium presents a mix of advantages and disadvantages. On the positive side, it offers a range of tradable assets and multiple account types to cater to varying trader preferences. The availability of trading platforms like WebTrader and MetaTrader 5 provides some flexibility. Moreover, Lilium offers educational resources, including a blog, webinars, trading courses, ebooks, and a glossary, which can be helpful for traders looking to improve their skills. However, it's crucial to highlight the substantial downsides: Lilium's lack of regulatory oversight, flagged status as a scam broker, and exceeding business scope regulated by UK FCA and US NFA are serious concerns. Additionally, Lilium does not provide any bonus offerings. These disadvantages should weigh heavily on anyone considering this broker.

    Pros Cons
    • Offers various tradable assets
    • Lack of regulatory oversight; flagged as a scam broker
    • Provides different account types
    • Exceeds the business scope regulated by UK FCA and US NFA
    • Spreads start at 0.1 pips
    • No bonus offerings
    • Offers WebTrader and MetaTrader 5 platforms
    • Provides access to educational resources

    Negative Reviews

    Some traders shared their terrible trading experience on the Lilium platform at WikiFX. They said they were unable to withdraw. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.

    Negative-Reviews

    Trading Instruments

    Lilium offers a variety of trading instruments, including:

    Stocks: Lilium offers access to over 10,000 stocks from around the world, including the UK, US, Europe, and Asia.

    ETFs: Lilium offers over 1,000 ETFs, which are baskets of securities that track a particular index or market sector.

    Forex: Lilium offers trading on over 100 currency pairs, including the major pairs (USD/EUR, USD/JPY, GBP/USD, etc.) and the minor pairs.

    Indices: Lilium offers trading on a variety of indices, including the FTSE 100, the S&P 500, and the DAX.

    Commodities: Lilium offers trading on a variety of commodities, including gold, silver, oil, and wheat.

    products

    Here is a comparison table of trading instruments offered by different brokers:

    Broker Lilium RoboForex FxPro IC Markets
    Forex Yes Yes Yes Yes
    Commodities Yes Yes Yes Yes
    Crypto No Yes Yes Yes
    CFD No Yes Yes Yes
    Indexes Yes Yes Yes Yes
    Stock Yes Yes Yes Yes
    ETF Yes Yes No Yes
    Options No No Yes No

    Account Types

    Lilium offers three distinct account types to cater to a variety of trading preferences:

    Standard Account: The Standard account is the basic option, suitable for new traders or those with limited funds. It requires a minimum deposit of 100 USD and provides access to Lilium's free trading platform, the full range of trading instruments, 24/5 customer support, spreads starting at 0.1 pips, commissions starting at 0.00 USD per lot, and leverage up to 1:100.

    Premium Account:The Premium account is designed for traders seeking more features. It demands a minimum deposit of 500 USD and includes all Standard account features. Additionally, Premium account holders benefit from tighter spreads, starting at 0.05 pips, commissions starting at 0.05 USD per lot, increased leverage up to 1:200, daily market analysis, and access to a dedicated account manager.

    VIP Account: The VIP account is Lilium's most exclusive option, targeting experienced traders or those with significant capital. To open a VIP account, a minimum deposit of 1,000 USD is required. VIP account holders enjoy all the advantages of the Premium account, along with exceptionally tight spreads starting at 0.02 pips, commissions starting at 0.02 USD per lot, high leverage up to 1:500, weekly market strategy sessions, and access to a dedicated VIP account manager.

    Leverage

    Lilium offers varying leverage levels to traders, allowing them to control larger positions than their initial capital would typically permit. Leverage essentially acts as a loan from the broker, increasing the potential for both profits and losses.

    The Standard account provides a moderate leverage option of up to 1:100, suitable for those starting or looking for lower risk. Premium account holders enjoy increased leverage, with a maximum of 1:200, offering more trading power but also higher risk. The VIP account, designed for experienced traders, offers the highest leverage at 1:500.

    Leverage can be a powerful tool when used wisely, but it should always be approached with caution, and traders should fully comprehend its implications before utilizing it in their trading strategies.

    Here is a comparison table of maximum leverage offered by different brokers:

    Broker Lilium eToro XM RoboForex
    Maximum Leverage 1:500 1:400 1:888 1:2000

    Spreads and Commissions

    In terms of trading costs, Lilium applies spreads and commissions that can impact a trader's profitability. Spreads refer to the difference between the buying (ask) and selling (bid) prices of an asset and serve as a source of revenue for the broker. Lilium offers competitive spreads across its account types, with the Standard account featuring spreads starting from 0.1 pips. The Premium account provides even tighter spreads, commencing at 0.05 pips, potentially reducing the cost of entering and exiting positions. VIP account holders enjoy the tightest spreads, starting from just 0.02 pips, offering the most favorable pricing structure.

    Commissions are an additional fee incurred by traders and are usually applied per lot traded. Lilium employs a commission-based model with commissions starting from 0.00 USD per lot for Standard account users. Premium account holders experience slightly higher commissions, commencing at 0.05 USD per lot. The VIP account, while providing exclusive benefits, comes with commissions starting from 0.02 USD per lot. It's important for traders to factor in both spreads and commissions when calculating the overall cost of their trades, as they can significantly impact profitability, especially for high-frequency or large-volume traders.

    spread-commission

    Deposit & Withdraw Methods

    Lilium offers a range of convenient deposit and withdrawal methods to facilitate its clients' financial transactions. These methods include credit/debit cards, bank transfers, and e-wallets like PayPal, Skrill, and Neteller. One notable advantage is that deposits are processed immediately, allowing traders to swiftly access their trading capital and execute orders without delay.

    On the withdrawal side, Lilium aims to provide efficient service, with withdrawal requests typically processed within 1-2 business days. However, it's essential to note that processing times may vary depending on the chosen withdrawal method. Bank transfers, for instance, may take slightly longer, typically requiring 3-5 business days for completion.

    Crucially, Lilium does not impose any fees on deposits or withdrawals from their end. Nevertheless, traders should be aware that banks or payment processors may levy fees on these transactions. Therefore, it's advisable to check with your financial institution or payment provider for any potential charges associated with depositing or withdrawing funds from your Lilium trading account.

    Trading Platforms

    Lilium provides its clients with a choice between two distinct trading platforms:

    1. WebTrader: The WebTrader platform is a user-friendly, web-based trading interface accessible from any device with an internet connection. It caters to traders seeking simplicity and ease of use, making it an ideal option for those new to trading or those who prefer a straightforward approach to executing trades.

    2. MetaTrader 5 (MT5): MetaTrader 5 is a robust and widely adopted desktop trading platform utilized by millions of traders worldwide. It boasts a comprehensive array of features and tools, including advanced technical and fundamental analysis capabilities, as well as real-time market news updates. MT5 is tailored for traders looking for a more sophisticated and feature-rich trading experience to enhance their decision-making processes.

    trading-platform

    Customer Support

    Lilium‘s customer support can be reached by telephone: +44 731697006, email: support@lilium-markets.com. You can also follow this broker on social networks such as Twitter, Facebook and YouTube. However, this broker doesn’t disclose other more direct contact information like the company that most brokers offer.

    Educational Resources

    Lilium offers a variety of educational resources to help its clients learn how to trade successfully. These resources include:

    Blog: Lilium's blog features articles on a variety of trading topics, including trading strategies, technical analysis, and risk management.

    Webinars: Lilium hosts regular webinars on a variety of trading topics. These webinars are a good way to learn about trading from experienced professionals.

    Trading courses: Lilium offers a variety of trading courses, both free and paid. These courses cover a variety of trading topics, from beginner to advanced.

    Ebooks: Lilium offers a variety of free ebooks on trading topics. These ebooks are a good way to learn about trading at your own pace.

    Glossary: Lilium offers a glossary of trading terms. This glossary is a good resource for learning the meaning of trading terms and concepts.

    Conclusion

    In conclusion, Lilium, based in the United Kingdom, offers traders access to a diverse range of tradable assets and various account types, accommodating both novice and experienced traders. However, significant disadvantages mar its appeal. The broker's unregulated status, coupled with a history of expired licenses and flagged scam broker status, raises substantial concerns about its legitimacy and reliability. While Lilium provides educational resources and competitive trading conditions, including tight spreads and a choice of trading platforms, these potential advantages should be weighed against the inherent risks of dealing with an unregulated broker. As such, caution is paramount for anyone considering trading with Lilium, as the potential benefits must be carefully assessed in light of its substantial drawbacks.

    Risk Warning

    Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    User Reviews

    Sort by content

    • Sort by content
    • Sort by time

    User comment

    3

    Comments

    Write a review

    笑看风云71833
    more than one year
    Is there no law of the king? Those who cheat people of money are ####
    2023-01-15 11:32
    Reply
    0
    2
    至尊宝77243
    more than one year
    Is there no law to sanction
    2023-01-10 23:43
    Reply
    0
    2
    海阔天空0375
    more than one year
    Report Lilium! As can be seen from the majority of the exposures on this site, this company is perpetrating a scam and it’s illegal. You pay into what appears to be a genuine account, and then cannot retrieve your funds.
    2022-12-06 17:20
    Reply
    0
    1
    75
    TOP

    Chrome

    Chrome extension

    Global Forex Broker Regulatory Inquiry

    Browse the forex broker websites and identify the legit and fraud brokers accurately

    Install Now

    Select Country/Region
    • Hong Kong China

    • Taiwan

      tw.wikifx.com

    • United States

      us.wikifx.com

    • South Korea

      kr.wikifx.com

    • United Kingdom

      uk.wikifx.com

    • Japan

      jp.wikifx.com

    • Indonesia

      id.wikifx.com

    • Vietnam

      vn.wikifx.com

    • Australia

      au.wikifx.com

    • Singapore

      sg.wikifx.com

    • Thailand

      th.wikifx.com

    • Cyprus

      cy.wikifx.com

    • Germany

      de.wikifx.com

    • Russia

      ru.wikifx.com

    • Philippines

      ph.wikifx.com

    • New Zealand

      nz.wikifx.com

    • Ukraine

      ua.wikifx.com

    • India

      in.wikifx.com

    • France

      fr.wikifx.com

    • Spain

      es.wikifx.com

    • Portugal

      pt.wikifx.com

    • Malaysia

      my.wikifx.com

    • Nigeria

      ng.wikifx.com

    • Cambodia

      kh.wikifx.com

    • Italy

      it.wikifx.com

    • South Africa

      za.wikifx.com

    • Turkey

      tr.wikifx.com

    • Netherlands

      nl.wikifx.com

    • United Arab Emirates

      ae.wikifx.com

    • Colombia

      co.wikifx.com

    • Argentina

      ar.wikifx.com

    • Belarus

      by.wikifx.com

    • Ecuador

      ec.wikifx.com

    • Egypt

      eg.wikifx.com

    • Kazakhstan

      kz.wikifx.com

    • Morocco

      ma.wikifx.com

    • Mexico

      mx.wikifx.com

    • Peru

      pe.wikifx.com

    • Pakistan

      pk.wikifx.com

    • Tunisia

      tn.wikifx.com

    • Venezuela

      ve.wikifx.com

    United States
    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;
    License or other information error corrections, please send the information to:qawikifx@gmail.com
    Cooperation:fxeyevip@gmail.com