Is Loewen and Associates a Scam?

At FXCanary, our editorial team goes beyond surface-level claims. We dig into licensing records, cross-check public databases, and scrutinize real user reviews to build a comprehensive Scam Risk Score for every broker we investigate. That score synthesizes factors such as regulatory standing, segregation of client funds, compensation scheme membership, user complaints, and transparency of business operations. A low score indicates a high probability of safety, while a high score signals significant concerns that traders should not ignore.

For this review, we applied that same rigorous methodology to Loewen and Associates, Inc. — an entity presenting itself as a financial services provider out of Kansas, USA. What we uncovered departs sharply from the profile of a legitimate forex broker, and our resulting 37/100 score (Guarded) reflects deep-seated risks that every retail trader must weigh carefully before considering an account.

Loewen and Associates, Inc. lists a business address at 6572 Tuttle Creek Blvd, Manhattan, KS 66503, and was incorporated on May 10, 2019. On paper, that suggests an American firm operating under US jurisdiction. However, when we searched for any forex-specific licensing, we came up empty. The company holds no registration with the National Futures Association (NFA), the Commodity Futures Trading Commission (CFTC), or any other financial regulator that would permit it to offer leveraged forex trading to retail clients.

Even more telling is the nature of its public footprint. All 24 Trustpilot reviews — and the company itself has a 4.7/5 average there — sing the praises of individual staff members for their roles in boat loan financing. Clients rave about Shelly Fisher, Joann Burleigh, Joan Burleigh, and others who helped them secure yacht and powerboat loans.

Not a single reviewer mentions buying, selling, or holding currencies. For a supposed forex broker, this is a glaring mismatch. It strongly indicates that Loewen and Associates is not, and perhaps never has been, an active participant in the forex market.

Forex brokers soliciting US residents must register with the NFA and CFTC, and they are required to comply with strict capital adequacy, reporting, and anti-fraud rules. Loewen and Associates has done none of this. Our check of major international regulatory registries — including those of the FCA in the UK, ASIC in Australia, and CySEC in Cyprus — also yielded no results. The entity is completely unregulated for forex.

Operating without a license is not merely a bureaucratic oversight; it is often a deliberate choice to evade oversight. Unregulated brokers face no requirement to segregate client money, no minimum capital requirements, and no obligation to treat customers fairly. In the event of a dispute, traders have no access to a financial ombudsman or compensation scheme. The absence of any verified license is the single biggest red flag in our investigation.

When you deposit funds with a properly licensed broker, you benefit from layers of protection. For example, FCA-regulated brokers must hold client money in segregated accounts and are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000. NFA-member brokers must maintain high net capital levels and provide transaction-level reporting. Even offshore regulators like the FSA of Seychelles or the VFSC of Vanuatu often mandate segregation, albeit with weaker enforcement.

Loewen and Associates offers none of these safeguards. With zero regulatory obligations, the company could commingle client funds with its operational accounts, and there is no investor insurance or compensation fund to fall back on. Should the firm become insolvent or simply disappear, traders could lose every cent. This is an unacceptable risk for anyone serious about forex trading.

FXCanary’s investigation uncovered multiple red flags that extend beyond regulation. First, the company’s Trustpilot profile and website (if one exists for forex) present entirely different faces to the public. The reviews we analyzed all relate to marine lending, and the tone is uniformly positive about personalized service for boat buyers. Meanwhile, the entity listed as a forex broker has zero employees, according to our aggregated industry data. A legitimate brokerage requires trading, compliance, and support staff — a team of zero is practically impossible.

This schizophrenia suggests one of two scenarios: either Loewen and Associates is a loan brokerage that has nothing to do with forex, making its appearance on a forex comparison site a possible case of mistaken identity or misrepresentation; or it is a newly created shell that is piggybacking on the loan company’s positive reputation to lure unsuspecting traders. Either scenario spells danger. The lack of any forex-specific reviews, combined with the overwhelming evidence of a different business model, is a classic sign of a potential clone or impersonation — even though we found no direct clone sites in our scan.

A broker’s worst nightmare is a trader who can’t get their money out. That’s why FXCanary pays special attention to withdrawal complaints. With Loewen and Associates, there are zero withdrawal-related complaints on record.

On the surface, that sounds encouraging. However, the reviews we do have pertain solely to boat loan disbursements — a very different process from a forex profit withdrawal. A loan lender disburses a lump sum to a dealer or seller after underwriting is complete; there is no ongoing trading balance or frequent withdrawal requests.

Consequently, we have absolutely no evidence that Loewen and Associates has ever processed a single forex withdrawal, let alone handled the complex demands of active traders trying to pull profits regularly. The absence of complaints may simply reflect the absence of forex clients. If you are considering depositing real money, you would be stepping into a vacuum where neither positive nor negative feedback exists.

The risks we have identified are not unique to Loewen and Associates, but they are particularly acute here. To safeguard your capital, always take these steps before funding any forex account. First, verify the broker’s registration directly on the regulator’s website — for US-based forex brokers, that means checking the NFA BASIC system. Loewen and Associates does not appear there. Second, test the coherence of the company’s business model: if its reviews and public presence are entirely about a different industry, walk away.

Third, demand transparency about fees, spreads, execution, and account types. In this case, none of that information is available because the company does not operate a forex brokerage in any verifiable sense. Finally, be especially wary of brokers that show zero employees and no meaningful online footprint; these are often fronts for scams. Legitimate brokers publish detailed audits, employ dozens or hundreds of people, and have a clear, consistent brand. Loewen and Associates fails every one of these basic checks.

Our Scam Risk Score of 37 out of 100 places Loewen and Associates firmly in the ‘Guarded’ category, but in this case the label understates the peril. The score is held down only by the lack of outright scam complaints and the positive boat-loan reviews — neither of which is relevant to forex trading. The underlying business appears to be a completely different type of lender, and there is no evidence that it has ever executed a single forex trade on behalf of a client.

For a retail trader, the question is not whether this broker is a scam in the classic Ponzi-scheme sense; the question is whether it is a forex broker at all. Based on our exhaustive research, we cannot confirm that Loewen and Associates is a legitimate venue for currency trading. We strongly recommend that traders avoid any entity operating without proper regulation and with such a profound disconnect between its advertised services and its actual business. Safer, fully licensed alternatives abound, and no potential return is worth the risk of losing your entire deposit to an unverified, unregulated shell company.