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London Trading Index
London Trading Index lacks legit client endorsement. Their marketers are doing the dirty bidding for the scheme. The safety of your money is never guaranteed in such a shady offshore scheme.
London Trading Index is allegedly an investment entity. It claims to hail from one of the reputable asterisk areas in the market: London, United Kingdom. We have seen multiple entities like this one. The problem is that they do not meet their promises. Additionally, they tend to exit the market prematurely. You do not need any specific skills to know that you will be dealing with a scam.
The platform is a discrete scheme. Anonymity is one of the red flags that the venture showcases. If you choose to entrust your money to them, you will never know if the individuals are qualified. You will end up disappointed with no one to turn to.
The scheme is trying its level best to remain relevant. However, they are targeting United Kingdom clients without adhering to set guidelines. You should never trust an offshore scheme that is operating as it pleases. There are no trading activities taking place behind closed doors.
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Trading Conditions of London Trading Index
The scheme claims it offers MetaTrader4. However, if you try to download the software, the link is broken. Therefore, we can confidently conclude that there is no trading interface. The venture has four trading accounts. They even have a Muslim account. The least amount that one can deposit in the standard account is GBP 1000. This is beyond the market requirement.
The spread ranges from 1.5 to 2 pips. Such limits can only benefit the con artists. Traders will be safer because they are required to pay more. Another thing that gives away the London Trading Index as a Ponzi scheme is the high leverage they provide.
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The venture advertises leverage of 1:200. The FCA limit is 1:30. The risks that the fraudsters expose you to are immense. The scheme is also offering bonuses to investors. These lucrative are prohibited in the UK.
Withdrawal and Deposits
London Trading Index accepts funds via Bitcoin, Skrill, credit cards, Skrill, and Neteller. However, it turns out the only working method is wire transfer. This is a method that cannot be refunded.
The withdrawal requirements are not clearly outlined. The scheme only states that there is an inactive fee of $5. This being a Ponzi scheme, you can expect hidden charges from them.
Regulation Status of London Trading Index
London Trading Index wants traders to believe it is a licensing scheme. However, this is a Ponzi scheme that is illegally collecting money from the members of the public. They have a registration document. However, this form does not serve any purpose when it comes to the safety of your money. It is cheap and quickly acquired.
For a venture to legally operate in the United Kingdom, it must have a license. The FCA requires an entity to deposit 730K EUR in their name. The funds act for compensation purposes in case traders face bankruptcy. Scammers cannot afford such a high amount of funds.
The body also requires that investment schemes that operate in the country must report their daily trading activities. London Trading Index is a scheme in which no one supervises their trading activities. In one section of the website, there is data showing that the venture is operating from SVG.
Saint Vincent and the Grenadines do not supervise online investment services. Therefore, the place has become a hotspot for fraudulent schemes. The chances of the scheme operating from this area are incredibly high. They are only using the UK to trap more victims as it makes them a more transparent firm.
There are several misleading reviews regarding this scheme. Traders are claiming the London Trading Index is a genuine venture. Random people claim that the entity has been profitable. They have seen better days after joining the entity.
The information also claims that it is one of the best brokers in the market. However, this is a nasty venture. The individuals that endorse them are anonymous. There are no social media links. Therefore, we cannot validate that these are the actual clients of the firm.
Investors that are behind the scheme are unknown. Legit investment platforms will not present false statements to win over your trust. Real traders and clients leave behind their experience.
Is the London Trading Index a Genuine Broker?
For starters, this is a venture that does not plan on releasing the funds of traders. The company does not provide sufficient information regarding the withdrawal requirements. Moreover, we realized the scheme is offering bonuses to clients. However, the United Kingdom financial body does not permit such lucrative deals.
Moreover, London Trading Index lacks legit client endorsement. Their marketers are doing the dirty bidding for the scheme. The safety of your money is never guaranteed in such a shady offshore scheme. The venture is also upholding anonymity.
If they have nothing to hide, then all the necessary information would be available. The scheme has numerous red flags. They will soon be on the blacklist of the FCA. The funds of investors will be trapped in the scheme. You won’t be able to recover even a penny.
The privacy of traders is also in much greater danger. London Trading Index could decide to sell your info to criminals. Once this happens, you could lose more than just the funds. There is no customer support in this entity. The assets the company is allegedly trading are volatile. Therefore, it is impossible to predict the direction that the market is going to take. All in all, most schemes never survive the market. They end up exiting the industry.
If you care about the safety of your money, refrain from doing business with this nasty scam. There are legit investment schemes that you can trust. Normalize researching before trading. It could save you a lot.
The Domain Insight
London Trading Index is a scheme that has survived in the market. They have been trading since September 2019. Their domain name has been registered for ten years. The long duration should not deceive you into thinking that this is a reliable scheme. They could exit the market today and come back using a different domain name.
The information of the founder is not available. The traffic that is visiting the London Trading Index is not much. This shows that traders are not interested in the services of the firm. Entrusting your money to an infamous venture could lead to you losing everything.
There are legit forex trading companies that you can use in the market. The trust score of the platform is low. They are also illegally collecting funds from the UK. This is a scheme that is based in an offshore region. Their system could collapse at any time. There is nothing much that you could do afterward.
Here is a list of some of the best forex trading companies. They have survived the volatility in the market for years. The customer support of the firm are profesisional. They ethically handle the queries of traders.