Lykke is an online financial services provider that operates from Switzerland. They give traders the opportunity to exchange various digital currencies — bitcoin, ripple, Litecoin, Ethereum, and more — using a proprietary trading platform that is also available as a mobile app. They make available to traders a good selection of useful trading and learning tools and also provide a customer support team that is always ready to assist. Clients also get access to a secure and feature-rich wallet to enable them to store and transfer their assets. No commission is charged on trades, while the minimum deposit required to operate a live trading account is simply $1.
Lykke Review Introduction
In this Lykke review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Lykke.
Lykke Platforms & Tools
Traders are provided with the Lykke platform, a proprietary trading platform that is designed with a user-friendly interface to suit all levels of traders. It is built with several trading tools and advanced trading functionalities, such as Live Pricing Information, an Order Book and Trade Log, Crypto Index (LyCI), a secure LyCI Service, and an Interactive Price/Depth Chart. The Exchange also has a proprietary wallet, which allows you to trade and invest with the Exchange. The wallet is compatible with smartphones running on Android and iOS and can be downloaded from the respective app stores.
Trading APIs and other useful trading tools are provided to enhance clients’ trading experience.
Lykke Research & Education
There is a good selection of educational resources on the Exchange’s website to help traders improve their knowledge of the cryptocurrency markets. They include trading blogs, help centre, and market news that keeps clients in the know on the factors that move the cryptocurrency markets.
Lykke Trading Accounts
Traders are offered a single live trading account, which requires a minimum deposit of $1. Multiple trading accounts are not allowed for a single user.
Lykke Account Funding
Traders can deposit and withdraw funds, to and from their trading accounts, using any of the following payment methods:
- Credit/Debit cards
- Swift transfer
- Blockchain transfer.
The transaction processing time may vary depending on the payment method.
Lykke Customer Service
The Exchange has a knowledgeable customer support team that is available 24 hours a day to answer traders’ general, technical, and account-related inquiries. The support team can be reached via the following contact channels: telephone, email, support ticket, and social media.
Lykke Corp (Lykke AG) is registered in Zug, Switzerland with the identification number: CHE-345.258.499. Lykke Corp UK Limited is a company registered in England with the registration number: 10093552. There is no regulatory information on the Exchange’s website at the moment. Lack of regulation can discourage some potential traders and investors from opening an account with the broker because the safety of their invested funds is not guaranteed.
Lykke Review Summary
Lykke is a financial services provider that offers the necessary platforms and tools necessary to seamlessly trade multiple digital assets. Traders benefit from a selection of educational resources and a professional client support team. A minimum deposit of $1 is required to open a live trading account, and zero commissions are charged on trades. However, the Exchange is not regulated by any known financial authority at the moment.
It is worth mentioning that some of the trading products and services in this Lykke review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Lykke broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.