LondonEX Review: Find Out Why You Never Work With Them
LondonEX is one more scam in a pool of many. This platform promotes trading on avant-garde platforms, as well as many financial instruments to select from. The design may be satisfactory. However, their page is anonymous, unauthorized, and lacks essential functionality.
Investing in this broker scam would be a waste of time and cash, and this LondonEX review is here to explain why!
|St. Vincent and the Grenadines
|from 1.0 pips
LondonEX Fund Licensing and Security
First and foremost, we should take a look at the location of this broker. It is noted that it is located in St. Vincent and the Grenadines. This instantly suggests that they may steal your money before you even blink.
Many fraudsters have selected this specific land as the base for their scammy operations. Why? Well, the local financial authority, SVGFSA, does not control FX brokers and does not set any regulations in the sphere of FX trading.
Not all brokers in this country are fraudsters, however. Some large, multinational brokers have set up firms in the country in order to avoid strict rules. However, such brokers can always be tracked to a respected, authorized parent firm.
It is advisable that you check out brokers authorized in the EU or the UK. When brokers fail to comply with all legal requirements and fail to report regularly to authorities, they risk losing their hard-earned licenses.
Trader Platform LondonEX Overview
This alleged broker provides access to MetaTrader 5 – one of the most popular and favored platforms in the trading world. However, you can’t try this broker’s terminal and see what they offer. This is because they won’t let you open an account – the broker’s website will malfunction when you try to do that.
Check out brokerage firms that offer access to MetaTrader5 for real. This cutting-edge software is efficient and convenient, making it a wise choice for newbies and professional traders. Keep this in mind!
Note: There are associations that market systems—signal sellers or trading bots—and occasionally sell unsafe things that do not yield profitable results. These scammy web pages often prey on novice traders on various venues or forums.
What Account Types Are Offered at LondonEX?
This alleged forex broker offers different types of accounts for traders. Let’s take a look at them below:
- Raw – 0.0 pips
- Standard – 1.0 pips
- Fixed – 1.5 pips
- Vip – 0.4 pips
- Crypto – Raw
Keep in mind that these prices are fairly common. Still, as you won’t be able to get access to any software, you won’t know if there is any validity to all of these claims. Beware of this!
LondonEX Offers Bonuses and Promotions
Notably, bonuses are another effective way to scam people and steal their money. This company promises up to a 200% Power Up bonus, allegedly to help you grow your finances and give you a fresh start.
Nevertheless, you will find no data on the alleged bonuses if you review the Terms and Conditions. Regulations prohibit bonuses and other inducements since deceitful companies like this one abuse them to extort clients’ budgets. Stay away from this kind of cyber fraud conspiracy.
Deposit and Withdrawal Process
If you take a closer look at their web page, you can see the most popular payment options. Those are bank cards, wire transfers, Skrill, and Neteller. Nevertheless, as you cannot open an account, you cannot know if all of these payment options will actually be available. Depositing your money with unreliable brokers is never a good idea.
The LondonEX broker did not provide any clarification regarding additional non-trading fees. This is a fact! However, there are doubtless some – the broker has the right to change all fees without warning.
Note: A typical scheme FX scammers use is they make you think you have made thousands of dollars in profit. They do this only to get you to deposit more cash. They may show you some bogus screenshots of the software or even equip you with access to the trading venue. Whatever the case, these alleged profits do not exist.
This Is How The Scam Operates
Please keep in mind that you can waste a lot of cash in forex trading. Always be vigilant, especially if you are a novice. Do proper research before you decide to open an account with any broker. Even qualified investors who use the services of reputable brokers do this.
New traders can be misled by many false websites presenting themselves as true brokers. Thieves will lure you with many phony promises of easy profits. Keep away from easy profits and use only regulated brokers.
Often, these fraudsters promote enormous profits for an insignificant investment. They will prompt you to invest even more money. In addition, after you deposit, all your investments will be wiped out.
You won’t even see a single dollar from these apparent profits. It will become hopeless to reach the minimum withdrawal amount. Scammers hide behind suspicious names and locations. This suggests that you won’t be able to track or hold them accountable.
LondonEX is just another untrustworthy broker to stay away from. As you can see from this LondonEX review, there are several valid reasons to avoid this trading scam. This broker utilizes deceptive software and a fictional address. Additionally, there is no information on true deposit requirements.
Don’t invest your cash here because everything about this broker is faulty. Let us know if you have had a problematic experience with this broker scam. We can help you report it!
FAQs About LondonEX Broker
Is LondonEX a Secure Place for My Money?
No. LondonEX is not a secure place for your money. This is just another big trading scam.
Is A Demo Account Available from LondonEX?
This broker scam does not offer any demo account. There is only a live trading account.
How Secure Is LondonEX?
LondonEX is not a secure or trustworthy broker. Do not invest your money here!