LondonFX is a brokerage firm that is making itself known in the trading sector in a bad manner. They have earned a lot of hatred from the coed and it goes without saying that they are unregulated. Moreover, they work with a lot of shady trading systems and software which means they do not care about morals and ethics.
The real owners of this firm are unknown as well and at the time of writing this post, their website is down. According to a few online sources, their website has been inactive for quite some time and most of the users are not able to withdraw their money.
Most probably, the crooks behind this operation will flee away. In other words, you need to act quickly if you have deposited with them. If you have questions about their real nature or if you want to learn about the things going on with them behind the scenes, the following content is for you.
Remember, they are unregulated, and looking at the way things are getting unraveled, the longevity of this firm is basically slim to none.
The first thing you need to check while looking for an online broker is their registration and licensing information. To make things enticing, unregulated brokers offer a lot of perks. However, due to the risks involved, it is always better to stick with licensed firms.
Also, talk to a licensed financial planner before making any big commitment in terms of capital. LondonFX is regulated in Marshall Island, but do not let their certificates fool you. The laws governing their location do not extend security to people in other regions.
In simple words, things are not so strict with them and that kind of legal loophole allows them an unfair advantage. As the licensing aspect is weak, to say the least, there is no such thing as a compensation fund or capital security provided by them.
Note that if they go bankrupt or just flee away, there isn’t anything you can do about it. So, think twice before you proceed with them, and regardless of what they say, make decisions based on facts only.
Bitcoin Trading Software and LondonFX
Many fraudulent trading software is associated with this brokerage. Clearly, they are good at marketing, but they do not care about business values at all. If you are being introduced to this platform via a trading funnel, then walk away immediately.
Get in touch with our affiliated Cryptocurrency Forensic Specialists at CNC Intelligence for free by filling out the form below.
Though their sales pitch is exciting, the chances of you making money with them is less than one in a million. All of their affiliated trading funnels use high-pressure marketing tricks and the entire setup can be considered criminal in many ways. Of course, they have liability clauses. However, that does not shield them from the hands of the law.
Brokers such as LondonFX work with fake investment solutions to get new clients. They pay huge commissions to acquire a new customer and eventually will cause a loss to their own user base. As the conflict of interest is not only evident but notorious, it is better not to get involved with entities like that in the first place.
Trading Interface
LondonFX claims to offer an MT4 trading interface. We were not able to open a demo account. So, personally, we cannot verify or attest to their statements in any way. Nonetheless, we suggest you not trust anything they say unless you have verified the information firsthand.
Web-based trading software is basic and there isn’t anything about them that translates into confidence. Liquidity providers are unknown and information regarding fees is vague and mysterious. If you ever place a trade with them without knowing the costs involved, chances are you will incur a lot of unjustifiable charges.
After all, they are paying huge amounts for affiliates for a reason, right? In short, the entire functionalities provided by them do not match the industry’s standards in any way.
Deposit and Withdrawals
Just like most offshore brokers, this one also isn’t transparent about the fees involved and the processing time. The minimum deposit is said to be around 250 Euros. Processing time is not guaranteed and as they are unregulated, things like segregated bank accounts are not offered.
Funnily enough, the deposit and withdrawal methods are also hard to find. During our investigation, the only option we had was to use the credit card option, but for obvious reasons, we did not move forward with it. All in all, the way funding and withdrawals work is shady, to say the least.
LondonFX User Reviews
During their inception, this broker did have many positive comments on popular forums. However, if you take a close look at the ratings, it does not take long to figure out that the crooks had rigged this metric. Now, as their real nature is exposed, people are thrashing them literally on every nook and corner of the web.
Their attempt at building fake authority was detected early by the public and the rest is self-explanatory. Bluffing about themselves using puppet profiles is a bad sign. As this brokerage is riddled with hassles, it is a no-brainer task to maintain distance from them.
LondonFX Scam or Not?
The LondonFX Scam has caused a lot of damage to many people. Clients are not able to withdraw their capital and regulatory bodies are just too slow to take action. If you are one of the victims of this incident, then make sure to act in a swift manner.
Get in touch with our recovery experts by filling out the form below. We will help you trace the funds, raise formal complaints, provide intelligence, and assist you in the recovery process for free. Remember, all the help you need is just a click away and that is the beauty of the internet.
Verdict
Fraudulent brokers and shady organizations have messed up the entire landscape of the financial sector. As the situation is beyond anyone’s control, it is our duty to be careful and alert. After all, we cannot blame the regulatory bodies for everything, right?
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