Londonex foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://secure.londonex.com/register/, about the company's legal and temporary regulatory information, the company's address .
Londonex Forex Broker
Basic Information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Londonex Forex Broker - Complete Information Guide
1. Overview of the Broker
Londonex, established in 2022, is an online trading platform that operates under the brand name Londonex Ltd. The company is registered in Saint Vincent and the Grenadines, a location known for its lenient regulatory framework, which has attracted numerous offshore brokers. As a private entity, Londonex primarily serves retail clients interested in forex and CFD trading.
The broker claims to provide a wide array of financial instruments, including forex, commodities, cryptocurrencies, and indices. However, its operational history is relatively short, and it has faced scrutiny due to its lack of regulation. Londonex's business model centers around offering a trading platform that allows clients to engage in speculative trading without the oversight typically provided by regulated entities.
The parent company, Lon Markets LLC, operates Londonex, which has raised concerns regarding its legitimacy and operational practices. The companys focus on attracting clients through high leverage and enticing bonuses has become a hallmark of its marketing strategy.
2. Regulation and Compliance Information
Londonex operates without any valid regulatory oversight, which poses significant risks to potential investors. The broker claims to comply with the laws of Saint Vincent and the Grenadines, but this jurisdiction is notorious for its lack of regulatory enforcement in the forex market. Consequently, Londonex does not hold licenses from reputable financial authorities.
The Comisión Nacional del Mercado de Valores (CNMV) of Spain has issued warnings against Londonex for providing investment services without authorization. This lack of regulation means that clients are not afforded the protections typically guaranteed by regulated brokers, such as segregated accounts and investor compensation schemes.
Furthermore, Londonex does not implement robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures, raising further concerns about the safety of client funds and the integrity of its operations.
3. Trading Products and Services
Londonex offers a diverse range of trading products, including:
- Forex: The broker provides access to over 70 currency pairs, including major, minor, and exotic pairs.
- CFDs: Clients can trade on various asset classes, including commodities (like gold and oil), indices (such as the S&P 500 and FTSE 100), and individual stocks.
- Cryptocurrencies: Londonex allows trading in popular cryptocurrencies, including Bitcoin and Ethereum.
The broker does not specify the frequency of product updates or the addition of new trading instruments, which can be a red flag for potential investors. While Londonex claims to offer both retail and institutional trading services, the absence of a transparent operational history and regulatory oversight raises concerns about the quality and reliability of the services provided.
4. Trading Platforms and Technology
Londonex supports the MetaTrader 5 (MT5) trading platform, which is widely regarded as one of the best trading platforms in the industry. MT5 offers advanced charting tools, multiple order types, and automated trading capabilities through Expert Advisors (EAs). However, the broker also provides a proprietary WebTrader platform, which is simpler and more accessible for beginners.
The broker claims to have a robust technical infrastructure, but the lack of transparency regarding server locations and execution models (such as ECN or STP) raises questions about the reliability of its trading environment. Londonex does not provide sufficient information about its API access or support for automated trading, which could limit options for more sophisticated traders.
5. Account Types and Trading Conditions
Londonex offers several account types, including:
- Raw Account: Features a commission of $10 per lot with spreads starting from 0.0 pips.
- Standard Account: Offers spreads starting from 1.0 pips without commissions.
- Fixed Account: Provides fixed spreads starting from 1.5 pips with no commissions.
- VIP Account: Features competitive spreads at 0.4 pips with no commissions.
- Crypto Account: Offers raw spreads without commissions.
The minimum deposit required to open an account is not explicitly stated, which raises concerns about transparency. Londonex provides high leverage options, up to 1:1000, which can amplify both potential profits and risks significantly. The broker does not clarify its overnight fees or minimum trading lot sizes, which are critical factors for traders to consider.
6. Fund Management
Londonex claims to support various deposit methods, including bank transfers, credit cards, and e-wallets like Skrill and Neteller. However, the absence of a clearly defined minimum deposit requirement for different account types is concerning. The broker does not charge fees for deposits or withdrawals, which is a positive aspect, but clients should exercise caution given the lack of regulation.
Withdrawal options are reportedly available through the same methods as deposits, but clients have reported difficulties in accessing their funds. The processing time for withdrawals is generally stated to be within three business days, but this can vary significantly based on the broker's internal policies.
7. Customer Support and Educational Resources
Londonex offers multiple channels for customer support, including:
- Live Chat
- Phone Support
The support is available 24/7, which is beneficial for traders in different time zones. However, the lack of information regarding the company's physical address raises concerns about transparency.
While Londonex does not provide extensive educational resources, it does have a FAQ section on its website. The broker does not appear to offer market analysis services, webinars, or trading tools, which are often essential for novice traders looking to enhance their trading skills.
8. Regional Coverage and Restrictions
Londonex primarily targets clients in regions such as the UK, France, Germany, and Spain. However, the broker does not accept clients from certain jurisdictions, particularly those with strict regulatory requirements. The exact countries or regions where clients are restricted from opening accounts are not clearly listed, which can lead to confusion for potential investors.
In summary, Londonex presents itself as a comprehensive trading platform, but the lack of regulation, transparency, and a clear operational history raises significant red flags. It is essential for traders to conduct thorough research and consider alternative brokers with established reputations and regulatory oversight.
In conclusion, while Londonex offers a range of trading products and competitive conditions, the associated risks and lack of regulatory protections make it a questionable choice for traders. Always consider reputable brokers that adhere to regulatory standards to ensure the safety of your investments.
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Latest Reviews
FX2198346897
Vietnam
My account is running transaction orders. The intervention floor automatically closes negative orders, causing Kh to lose good orders
Exposure
2023-04-29
chambui
Vietnam
On 2022. 12. 12, I received a stock advisor Londonex and volk, who is about to pay dividends, a reputable brokerage consultant, fast entry fund, and expert support 1-1, I also went online to survey, on December 14, 2022, I paid 6 million and in advance to maintain 120% bonus, the next day I paid 105 million USD and soon got an expert. a few days of profitable support, but the experts do not allow withdrawals. last week, the volk code paid a dividend of $8,000, but the volk code has dropped a lot and since then experts told me I have placed a lot of buy and sell orders with the same token, resulting in a lot of negative numbers in my account and ask me to deposit more money to keep the account and get it back. experts once again started depositing 250 million dollars for me. even though my account sometimes has very few negatives, I am not allowed to withdraw, allowing me to place large volume orders to withdraw more money with a fast negative account. on December 27, 2022, my account was severely negative, I couldn't transfer anymore, my account was burned and I immediately left the zalo group. a dishonest businessman will deceive you and you will soon be punished. experts defraud one person after another, taking commissions on other people's blood money. since I lost my money, I have not focused on life and work, my thoughts are only focused on how to get my money back.
Exposure
2023-02-05
chambui
Vietnam
On January 6, 2023, I deposited 450 million dong into account 10006536, then I was given an expert support to type Nonfarm newsletter. After typing the newsletter, the expert called me and asked me to place many buy-sell orders of the same code, placing a large amount. Set all my accounts to negative. Within 1 hour, the phone rang, calling many times to the specialist who did not answer the phone. I don't understand how the floor let the expert kill people without a knife, within 1 hour, I flew 450 million VND to load it up until January 10, 2023, my account was on fire, unable to trade. again. Request the police, the People's Procuracy, and the website to deal with these unscrupulous business people, sucking this person's blood so that I can get my original money back, my sweat and tears were lost. in a very short period of time, making me very confused at that time, scared because I didn't think about losing money so quickly, now every day and every hour I have to think to repay the debt. These ingredients will be retribution sooner or later
Exposure
2023-01-17
chambui
Vietnam
That Friday (January 6, 2023) in the securities group (whoever joins this floor are advised to join the zalo group) started telling people to top up to report Nonfarm making money because this newsletter only has I thought about it all day until that afternoon, I borrowed money to type that newsletter and I was able to create a new account, with a new expert named Linh of the floor to help me. After typing the Nonfarm newsletter, you pay 10% of the profit and then start calling, urging me to place a lot of orders, which makes me panic. After calling to let me place orders according to your wishes, I go back to the delivery section. after translating, my account balances orders like the old account, buy - sell orders of the same stock code. I'm so scared, I call and text that Linh continuously but don't listen. Just texted me back to tell me to balance the order, but on Saturday morning (January 7, 2023) my account was negative a lot and her friend kept calling and texting me to ask me to top up to not burn my account. I told my friend that I ran out of money and didn't have it to enter, why did I do such a balancing act, why did I place such a big order, Linh said she wanted me to say it quickly, I said I didn't need a lot of words. Just play small and her friend supports her by joining her in 50,000 USD with her, but with the condition that she has to join the money. but I said all the money is gone, I will fight for you, how much is it for you, but you say that if you enter your money alone and lose, you will lose everything. Why did you force me to force you into the money with you? What if you lose again, what if you think the second reason (9/1/2023) believes that you won't lose, drop each order slowly. I heard that so I knew I was scammed again so I didn't come in. This Monday morning (January 9, 2023) his friend kept calling and texting constantly asking if he could top up more money, until tonight there was no money. In, the account will automatically fire. And then on January 7, 2023, my account was burned and could not be traded
Exposure
2023-01-15
chambui
Vietnam
I have been invited from you to advise on the Londonex exchange that is about to pay a very high Volkswagen dividend. You told me to recharge and give me an expert to help me because I don't know how to play. The first few days of joining, the expert also keyed the currency code for me and always made a profit, after paying the Volk code dividend, specialized Gia started placing a lot of buy - sell orders of the same code making my assets very negative and told me to deposit more money to drop orders but my account became more and more negative. And so on, I had to recharge 3 more times, the total amount is 780 million VND. On January 6, 2023, there was a Nonfarm newsletter, so I typed this newsletter to remove it and I created another account to top up 450 million VND. That night I was supported by another expert, after 10% profit, the expert started to urge me to place a quick order, confusing me to follow the expert's advice and after the expert told me to wait for a green sell order, then turn around. When I trade again, I see many buy - sell orders of the same code all balance and my account has been negative a lot and I can't play anymore and the expert starts telling me to deposit more money. God, within 2-3 hours of the evening I almost lost my account. So within 1 month I paid 1 billion 230 million dong. So sad, I went online to find out if anyone was scammed like me, then I knew a lot of people were like me and fortunately came to this website to denounce it. Hope the website helps me get back the money I spent because it's the sweat and tears of both my husband and I. And I will also report to the police so that everyone who intends to invest in it should stop immediately.
Exposure
2023-01-09
FX2198346897
Vietnam
Many customer accounts are profitable, and the platform automaticlly withdraw profit from customer
Exposure
2023-05-06