LYNDON Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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The company LYNDON has closed down. I'm so ****** why there are always so many scam companies out there trying to steal our hard earned money...I really hope the scammers are all brought to justice as soon as possible. Of course, what is more important is that I myself must remain vigilant and not be deceived.
Lyndon Finance Limited has garnered significant attention in the online trading community, with opinions ranging from positive to highly critical. While some users praise its trading conditions and customer support, others raise serious concerns about its legitimacy, citing experiences of being scammed. This review aims to provide a comprehensive analysis of Lyndon based on various user experiences, expert opinions, and factual data.
Note: It is crucial to be aware that there are different entities operating under the name "Lyndon," and the lack of regulatory oversight is a significant factor to consider. Various sources were consulted to ensure fairness and accuracy in this review.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Notes | 3 |
How We Rated the Broker: Ratings are based on user reviews, expert analyses, and available data from multiple sources.
Lyndon Finance Limited, established in 2021, claims to operate as an online trading broker based in the UK. However, it lacks regulatory oversight from recognized authorities such as the Financial Conduct Authority (FCA). The trading platform offered is primarily a basic web trader, lacking the advanced features typically associated with reputable platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Users can trade various asset classes, including forex, commodities, and indices, but the absence of cryptocurrencies is notable.
Lyndon operates without any regulatory framework, which is a significant red flag. Many reviews emphasize the lack of protection for clients, as the broker is unregulated and does not adhere to the standards set by financial authorities. This lack of oversight raises concerns about the safety of funds deposited with the broker.
Lyndon accepts deposits in various currencies, including EUR, and claims to facilitate withdrawals through multiple methods such as credit/debit cards and cryptocurrencies. However, user experiences indicate that withdrawal requests are often delayed or ignored, leading to frustrations among clients.
The minimum deposit required to start trading with Lyndon is €250. While this amount is relatively low compared to some brokers, the associated risks due to lack of regulation and negative user experiences should not be overlooked.
Lyndon offers promotional bonuses, which are often viewed skeptically in the trading community. Many experts warn that such bonuses can come with stringent withdrawal conditions, effectively locking clients into the platform without the ability to access their funds easily.
Users can trade a selection of assets, including forex pairs, commodities, and indices. However, the broker does not offer cryptocurrency trading, which is a limitation for many modern traders looking to diversify their portfolios.
The specifics regarding spreads, fees, and commissions are not transparently disclosed on the website, leading to further distrust among potential clients. Users have reported hidden fees and unexpected costs, which can significantly impact trading profitability.
Lyndon offers leverage, but the exact ratios are not specified, which is a common tactic among unregulated brokers to entice traders without providing clear information on the risks involved.
The only trading platform available is a basic web trader, which lacks the advanced features and tools that many traders expect from a reputable broker. This limitation can hinder the trading experience and affect overall performance.
While the broker claims to serve a global clientele, it is crucial to note that it does not accept clients from the United States, which may limit its potential market.
Customer support appears to be a significant issue for Lyndon, with many users reporting unresponsive service. The languages available for support are not clearly stated, adding to the confusion and frustration experienced by clients.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Notes | 3 |
Account Conditions (3/10): The account conditions are not favorable, especially considering the lack of transparency and regulatory oversight.
Tools and Resources (4/10): The basic web trader does not offer the advanced tools that many traders require, limiting the overall trading experience.
Customer Service and Support (2/10): User reviews consistently highlight poor customer service, with many claiming that their inquiries go unanswered.
Trading Experience (3/10): The trading experience is marred by the platform's limitations and the lack of clarity regarding costs and fees.
Trustworthiness (1/10): Given the numerous reports of scams and the absence of regulation, trustworthiness is a significant concern for potential clients.
User Experience (2/10): Overall user experience is negatively impacted by the platform's limitations and customer service issues.
In summary, the Lyndon review reveals a broker that poses significant risks to potential traders. The lack of regulation, poor customer service, and negative user experiences suggest that investors should exercise extreme caution. While some users report positive experiences, the overwhelming evidence points towards Lyndon being a risky choice for trading. It is advisable to consider regulated alternatives that provide better security and transparency.
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