Londonex Review: Londonex.com A Potential Scam

Londonex is promising investors zero commission on all stocks. Investors can also enjoy 1:50 to 1:200 leverage on popular assets. The venture brags that traders worldwide have chosen the entity. However, there are some features we do not like about this company. 

Before investing your money in any broker, check their legitimacy. Find out if a firm has a license. Additionally, you should look for customer feedback as well. Our main concern is the entity operates anonymously. It is essential to know the qualification of people handling your funds. 

Londonex.com Review

Londonex lacks customer reviews. The broker does not have an existing trading history. There are no published audited trading performances. It is a blind move to join the entity. Another red flag is the unreliable nature of the company. 

If you want to trade securely, ensure you trust a reliable investment company. There are good forex and crypto companies in the market. These ventures work with professional customer support. They provide top-notch trading materials. Their customer support is also professional and friendly. 

Available Platform

Londonex has outdone itself. The entity offers a superior MT5 interface. There is also a demo account that you can use to familiarize yourself with the trading activity. However, we noticed the broker lacks a MetaQuotes license. 

Instead, LonMarkets owns this license. Both companies have the same logos, which makes us suspect they might work together. These are scammers who have combined their effort to appear legitimate. They only use different domains and names but are the same. 

Nowadays, fraudsters will do anything to win investors’ funds. Metatrader is a leading trading software. It has several adorable features. Traders can execute orders automatically. Additionally, they can also use multiple indicators and technical analysis. You will know of currency market trends and utilize the economic calendar. 

Londonex Trading Accounts and Conditions 

The company has five trading accounts targeting novice, intermediate, and expert traders. The basic account requires a minimum capital of $1000, four times the average broker requires. 

Typically you will need $250 to open a trading account. Nonetheless, some entities allow investors to start with as low as $10. Londonex does not disclose the capital requirement of other account types. 

The company has tight spreads, which may attract more investors. These range from zero pips, 1 pips, 1.5 pips, and 0.4 pips. These conditions are useless since you will lose funds if you venture with the platform. Their leverage can go as high as 1:1000. The cap is dangerous. 

In the United Kingdom, regulated brokers offer investors leverage of 1:30. High limits are only available to expert traders. This regulates the market and minimizes investors’ risks. You will be trading in a conducive environment since the companies will not push you into making losses. 

Withdrawal and Deposit at Londonex 

Despite the company listing Skrill, Neteller, e-wallets, bank transfers, and debit and credit cards as their payment methods, traders can only use shady third-party options. These include; BigPay, Internet Bank, VNPay, and Virtual accounts. Making a deposit should not be this hard. Brokers should avail of universal payment methods. 

The entity fails to discuss the withdrawal requirements. Therefore, we do not know the minimum amount you can cash out. The legal document has shallow information. They are no mention of available fees. However, this does not mean there are no applicable charges. You cannot be confident with offshore companies. 

Customer Support and Contact Details

Londonex provides no office address. This is a virtual company that does not wish to be traced. They feature a phone number and an email address. However, it does not guarantee you will get a response from their team. 

Ponzi schemes cannot afford to hire a professional customer support team. They work with shady sales reps. You will receive endless phone calls until you give in to their demands. These are tactical and well-trained scammers. 

Once you realize you have been scammed, the shady entity blacklists your phone number. They may go a further mile by deactivating your trading account. When opening an account, brokers require your phone number, email address, proof of address, and ID. Avoid sharing such critical data with offshore schemes like Londonex. 

This is because the entities can sell the information to third parties. The process may also land you in trouble with the authority. Furthermore, why would you entrust such information to anonymous individuals? To enjoy top-notch services, ensure you trade with the best forex companies in the industry. 

Regulatory Status of Londonex

Londonex conducts its business in an offshore zone. However, the venture falsely claims to have a license from the Financial Conduct Authority. FCA is the financial agency of the United Kingdom. The body enforces stringent rules to protect its citizens from fraudulent brokers. 

Any company seeking a license in the UK must meet £730K capital. The amount proves the broker can run its operation without misusing traders’ funds. Also, the financial watchdog ensures a broker compensates clients during bankruptcy. 

When trading with legitimate companies, you enjoy fund safety. Unfortunately, Londonex will disappear in thin air, leaving many high and dry. Do not be deceived by their sweet talks. There is more than what meets the eye. 

This is an offshore scheme. Nobody oversees their trading activities. Therefore, knowing if an actual investment is taking place is hard. The entity presents a license from Saint Vincent and Grenadines. The region’s watchdog issued a statement indicating it does not regulate online investment services. 

You are on your own when you choose Londonex as your trading partner. The broker does not report daily transactional reports. For all we know, the venture might be manipulating the market price. Stay away from the company and look for legit brokers that are trustworthy.

Are Funds Safe at Londonex

Your money is at significant risk. The entity hides its ownership information. Investors do not know whom to hold accountable when things go south. Lack of transparency should not be taken lightly. This is also a shred of evidence you are dealing with potential fraudsters. What else are they hiding? 

Legitimate companies operate in full transparency. They present their team by publishing their name and qualification. You can also interact with the team on social media platforms. An open-book policy guides them. This is the reason they receive more endorsement from many traders. 

Londonex is not working with reputable financial institutions. There is also no segregation of accounts. Money deposited by investors goes straight to the con artists’ pockets. Brokers that work with top tier 1 banks allow customers to withdraw fast. You can also issue a chargeback quickly.

You can lose more funds than you deposited when dealing with offshore schemes. This is because there is no negative account balance protection. These sham entities have the worst experience. 

Final Verdict

Londonex is not worth the time or resources. Joining this platform exposes you to danger. Your data is unsafe, and the chances of recovering your money are low. Additionally, their trading conditions are sickening. It is useless to deposit such a tremendous amount of capital only to lose it all. 

Ensure you trade with multi-regulated brokers. You will enjoy better trading conditions while trading in a safe environment. You can also trade by keeping track of your trading orders and withdraw swiftly.

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