Table of Contents
Lovacrypto review2024 Is this the ideal Crypto & CFD broker?
This Lovacrypto review 2024 gives you all the information you need to make your own decision whether or not to choose Lovacrypto.com. We also share our own experiences with this broker.
We also rate lovacrypto.com in many different areas. If you want to keep this Lovacrypto review in addition to the real thing, you can create a demo account via the button below to get an impression of Lovacrypto.
Our experiences with Lovacrypto
We start this Lovacrypto review by sharing our experiences with this broker. We tested this broker for approximately one quarter on points such as costs, ease of use, platform, and more.
We are surprised by Lovacrypto’s offerings in the forex field. They offer a very wide range of products and competitive rates. You also have many more investment options, such as shares, indices, crypto, and commodities.
Lovacrypto.com is a complete broker and is comparable to Avatrade. They excel in forex trading.
We found the platform, both mobile and Web, to be user-friendly. the trading solution also gives you many analysis options.
Advantages and disadvantages of Lovacrypto review
Here, we briefly explain the advantages and disadvantages of Lovacrypto. These points are further elaborated in this review. Opening an account with Lovacrypto is simple and completely digital. Lovacrypto.com offers several deposit and withdrawal options, all of which are free. Lovacrypto also has multiple user-friendly research and education tools.
- Lovacrypto is a reliable broker
- Extensive offer
- Excelling in forex
- Good customer service
- Good trading platform with many options
- No European regulation
- Mainly everything is currently only available in English.
Reliability Lovacrypto review
Because you may be investing your money through Lovacrypto, we have carefully checked whether this broker can be trusted. To answer in advance, yes, we think Lovacrypto is a reliable broker.
To assess this, we mainly look at two points:
- How are you protected if something goes wrong (bankruptcy, for example)?
- Is the broker regulated?
Are you protected with Lovacrypto.com?
The online trading platform is registered, which ensures that we build strong trust among our global traders. To offer you such an environment, we ensure to fulfil all legal requirements including KYC and AML policy adherence.
It is obligatory for the broker that while adhering to the KYC policy, they must know the true identity of the trader or customer who signs up and becomes part of their company. This way, they ensure that no one is using identity theft or is using someone else’s identity or personal information to sign up with Lovacrypto. To ensure we have the right person, we require them to provide all the necessary personal details for verification.
Is Lovacrypto regulated?
No, Lovacrypto is not regulated by any European regulation. this allows them to offer higher leverage but at the same ti should caution you.
Regulations protect traders from evil activities such as unfair price fills and theft of client money. However, a thriving group of unregulated Forex brokers often offer more flexibility than their regulated counterparts, such ashigher leverage and access to a broader choice of markets.
Lovacrypto.com trading offers an assessment
At Lovacrypto, you can trade many different instruments. However, Lovacrypto focuses mainly on forex and cryptocurrencies which means that they excel in this area in terms of offering.
In addition, Lovacrypto offers the opportunity to trade in other markets through CFDs. For example, you can trade individual stocks, commodities, and indices. Below, we take a look at what Lovacrypto offers per product.
Lovacrypto Forex review
This review praises Lovacrypto’s forex offering. At Lovacrypto, you can trade in more than 40+ different currency pairs, including exotic currencies.
These currency pairs are traded at Lovacrypto.com using CFDs. This ensures that you can invest by concluding a contract with a broker, meaning that one currency does not have to be sold or purchased.
At Lovacrypto, you can trade in major and minor currency pairs.
Stocks at Lovacrypto
Lovacrypto has a trading offering of the 500 major individual stocks from the United States, United Kingdom, Germany, France, Italy and the Netherlands. At Lovacrypto, you can trade in the following shares:
- and much more
It is also possible to trade in different commodities at Lovacrypto.com. However, commodities are only traded as CFDs on Lovacrypto.
At Lovacrypto, you can trade in different commodities. For example, you can trade in oud or oil.
Lovacrypto offers a selection of 20 indices, almost all of which are stock indices of various developed countries. You can also invest in the less-traded index of China and the global Cannabis index.
Several indexes you can invest in at Lovacrypto are:
- DAX 30
Cryptocurrencies at Lovacrypto
At Lovacrypto, you can also trade in cryptocurrencies, and we assess Lovacrypto on this. Cryptocurrencies like Bitcoin and Ethereum have become incredibly popular recently and are a popular investment option for many investors.
It’s good news that you can also trade in this at Lovacrypto. At Lovacrypto.com, you can trade in the major cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin.
Review offer Lovacrypto conclusion.
Our conclusion regarding Lovacrypto’s offering is positive. With many different instruments, you, as an investor, can easily spread your investments across the trading instruments you can trade at Lovacrypto.
There are few brokers who, in addition to a wide range of forex, also make investing in bonds, cryptocurrencies and commodities possible.
This makes Lovacrypto a good broker if you want to spread your portfolio across these investment types. A positive point for this Lovacrypto review!
Lovacrypto cost assessment
We also assessed Lovacrypto’s costs. Lovacrypto.com has average trading costs and is generally transparent about trading costs.
Lova Crypto strives to remain as transparent as possible, especially in terms of fees. If any of their services involve fees or charges, they are communicated upfront.
No matter the services you are using on their platform, which are not limited to making a deposit or opening a trading position, you will be informed of any charges or fees in advance. They have no hidden service fees and charges that you may not know about or may be surprised to learn at the last minute.
Their way of charging you and keeping our services operational is in line with the online trading standards, which is through spreads. You will be informed in advance of the spreads you will incur for any asset you pick to trade.
Lovacrypto offers you different kinds of trading accounts that have different spreads but they are communicated in advance. It would be quite common for you to find tighter spreads with professional and advanced trading accounts.
- Once you have covered the spreads to perform a trade, you will not be demanded or asked to pay for any additional commissions.
- no commission or fee is applied to the first deposit and withdrawal you make each month.
Still, you are advised to check with your bank if any service charge or fee has been applied to your first deposit or withdrawal.
- You may incur small service fees in case your account has been inactive for over 6 months.
- If you decide to hold a position overnight, then you are required to pay a swap fee.
In both cases, you will know exactly what charges or fees you may incur.
Lovacrypto trading platform review
We have extensively tested Lovacrypto’s trading platform.
Lovacrypto has one main trading platform for its clients for all your trading activities. Thanks to the different features and tools, you can find this trading platform suitable for all types of traders.
WebTrader is an innovative online trading platform specially designed for the traders of today. You don’t have to download or install anything, and you can open WebTrader from any computer with an internet connection and trade anywhere in the world.
Lovacrypto’s trading platform is a positive point in this review!
At Lovacrypto, you can place orders using the following basic order types:
- Stop loss
Lovacrypto mobile app
For this Lovacrypto.com review, we also thoroughly tested the mobile app. Lovacrypto’s mobile app makes trading easy, and it works exactly as you would expect from a good broker.
The app guides you step by step through opening positions, provides feedback on your activities, and provides support when you need it.
In addition to the usual mobile functions such as search or alerts, educational videos and customer service chat are available directly in the app.
Account types at Lovacrypto review
In this Lovacrypto review, we also examine the account types. Lovacrypto keeps things simple when it comes to its accounts. It offers most traders only two types of accounts: a standard account and a demo account.
You have multiple trading accounts that you can choose from at Lovacrypto.com. Every account is designed to represent a different skill level of traders. For our new traders, they have designed and preferred the basic accounts.
The basic account would suit your needs as it does not push you into a trading environment that is full of risks. Similarly, the trading tools that come with the basic account are also very basic and simple to understand. Still, you will have access to a wide range of resources to help you trade and make money as you perform trades. If you are a beginner, then we suggest you choose from the first two accounts that are available in the list.
Educational opportunities Lovacrypto review
Our review shows that the educational opportunities at Lovacrypto aren’t yet there but after talking to them we understand they are going to invest heavily in this, so we are hopeful.
Although we give less weight to a broker’s educational options (because the internet is full of information), we will still briefly discuss them. What is especially nice is that you can open a demo account at Lovacrypto!
Lovacrypto’s education section is very good and offers various learning options regarding trading basics, economic indicators or charting.
Create a Lovacrypto account.
We have also created an account with Lovacrypto and are happy to walk you through the process. It’s self-explanatory.
Create a demo account, Lovacrypto.
You can easily create an account with Lovacrypto by following the following steps.
- Create an account by pressing here. Then you also support us a little bit, which doesn’t cost you anything extra.
- Enter your information.
- Click on ‘Create account’.
- Voila, you can now start investing with virtual money!
Switch to a real account.
Once you have created a demo account,
You can then use that amount to trade shares or other instruments. This way, you can easily test whether Lovacrypto is for you for free.
When you are convinced that Lovacrypto is a good broker for you, you can upgrade your account to a real one by applying for a real account
You must fill in some basic personal information here. Next, you must fill in the financial details. Lovacrypto must do this due to regulatory requirements.
What you enter here is an indication of what kind of investor you are and to check how many risks the investors at Lovacrypto run based on their background.
After completing this information, you will receive a questionnaire about how trading instruments work, the risks of leverage, and whether you have taken a trading course.
This can be important because some people start trading without knowing the risks involved. Many brokers first ask several questions to check whether someone has studied this enough.
Do you want to start but still need to gain all the knowledge? No problem! Fortunately, we have all the information you need as a novice investor in the knowledge base of this website.
Once you have completed the knowledge questions and agreed to the terms and conditions, you will see the following. To finally open your account, it must still be verified. For this, you need to upload your ID and deposit money.
Deposit and withdrawal
You can deposit money into your account at Lovacrypto using multiple options.
You have the freedom to fund your account using multiple funding methods. Firstly, you can fund your account with a bank wire transfer. Secondly, you can deposit funds using a credit card or a debit card but the card must have the Mastercard or Visa logo. Otherwise, you have the option of depositing funds into a trading account using online depositing methods such as Skrill and PayPal. Last but not least, you have access to depositing funds using cryptocurrency wallets.
The minimum deposit amount is €250, but if you deposit €1,000 or more, you can consult with a personal account manager when trading.
You can withdraw money using the same methods as depositing money. In general, withdrawals via e-wallets take less than 24 hours. Paying out via your bank account can take up to 7 working days.
Lovacrypto does not chargeany feesfor either depositing or withdrawing.
Customer service Lovacrypto (review)
We contacted Lovacrypto customer service several times to test the quality. Lovacrypto has a good LiveChat, where they also respond quickly. You will generally speak to a customer service representative almost immediately.
Lovacrypto phone support is decent.
- Phone: 1-718-488-5710
- Email: [email protected]
online form: https://www.lovacrypto.com/contact-us
What needs to be added is 24/7 availability. Lovacrypto’s customer service is only available 24/5, which is very good.
Final assessment of Lovacrypto review 2023
Based on our personal experiences and testing the platform, we see this as a promising brokerage for beginning and intermediate traders that look primarily to trade Cryptocurrencies and Forex.
Lovacrypto is a good broker with many different investment options. In terms of offering, they are quite similar to Avatrade. However, Lovacrypto excels in forex.
The costs are relatively low. There are cheaper brokers, but also more expensive ones.
Who is Lovacrypto a good broker for?
Finally, we list for whom Lovacrypto could be a good broker based on the points in this review. Lovacrypto is suitable for:
- Forex investors
- Investors who want a lot of trading options
- Investors who wish to use apps on their mobile for trading
- Technical investors
- Traders that look to trade cryptocurrencies
Frequently Asked Questions (FAQ)
Is Lovacrypto reliable?
Yes, Lovacrypto is a reliable broker. they work according to strict compliance protocols and segregated accounts
What is the minimum deposit amount at Lovacrypto?
The minimum deposit amount at Lovacrypto is €250. Lovacrypto has several deposit methods, including PayPal, Neteller and bank transfers.
What are the costs at Lovacrypto?
Trading at Lovacrypto is commission-free. Lovacrypto makes most of its revenue from trading fees through spreads—Lovacrypto charges an inactivity fee after six consecutive months of inactivity. Lovacrypto does not charge any fees for depositing and withdrawing.
Disclaimer: CFDs are complex instruments, and due to leverage, they can be very risky. 71% of retail investor accounts lose money when trading CFDs with this provider. It would help to consider whether you understand how CFDs work and whether you can risk losing your money.
Lovacrypto is a young and fresh international brokerage that offers CFD trading for multiple asset classes. their rates are affordable and their trading platform is top notch. execution times and trading conditions are on par with the best options out there using the latest technologies
- All strategies are allowed
- Numerous funding solutions
- Fast execution
- No hiddend fees
- High Leverage available
- Only english support for the moment
- no Regulation
- Trading conditions
- Trading Platforms
- Customer support
- Rang of Market