Score
Londonex
Saint Vincent and the Grenadines|2-5 years| https://londonex.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Website
londonex.com
Server Location
United States
Website Domain Name
londonex.com
Server IP
172.67.152.26
Company Summary
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
| Londonex Review Summary in 10 Points | |
| Founded | 2022 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | No license |
| Market Instruments | Forex, indices, commodities, stocks and cryptocurrencies |
| Demo Account | Available |
| Leverage | 1:1000 |
| EUR/USD Spread | 1.0 pips (Standard) |
| Trading Platforms | MT5 |
| Minimum deposit | $1,000 |
| Customer Support | 24/7 live chat, phone, email, online messaging |
What is Londonex？
Londonex is a forex and CFD broker that offers a range of financial instruments for trading, including forex, indices, commodities, stocks, and cryptocurrencies. The broker claims to offer a range of account types with different features through the advanced MT5 trading platform. However, it is important to note that Londonex currently does not hold any valid regulatory licenses, and some clients have reported scams.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
Londonex has some positive aspects such as a wide range of tradable instruments, MT5 platform, and the availability of a demo account. However, there are several concerning issues such as the lack of regulatory licenses, reports of scams, and relatively high minimum deposit requirements.
| Pros | Cons |
| • Wide range of trading instruments across asset classes | • No valid regulatory license |
| • Demo accounts available | • Some clients have reported scams |
| • Swap-free trading for all account types | • High minimum deposit requirement |
| • MT5 available on multiple platforms | • No educational resources |
| • 24/7 customer support | |
| • No fees for deposits and withdrawals |
Please note that this table is based on the information provided and is not exhaustive.
Londonex Alternative Brokers
SBI FXTRADE - A reliable and well-regulated broker with a wide range of trading instruments and a user-friendly platform.
Interstellar FX - A broker with competitive spreads and commissions, offering a range of trading instruments across multiple asset classes.
LIGHT FX - A broker with a user-friendly platform and competitive pricing, offering a range of trading instruments with flexible leverage options.
There are many alternative brokers to Londonex depending on the specific needs and preferences of the trader. Some popular options include:
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is Londonex Safe or Scam？
LondonEX's lack of a valid regulatory license raises concerns about the safety of trading with this broker. While the claim of holding funds in segregated accounts and using encryption for security is a positive sign, it cannot be relied upon entirely without the oversight of a regulatory body.
Additionally, reports of scams from some clients suggest that caution should be exercised when considering LondonEX as a trading platform. It is recommended to thoroughly research and consider all options before investing with this broker.
Market Instruments
Londonex offers a diverse range of trading instruments across various asset classes. For forex trading, clients can access over 70 FX currency pairs including major, minor, and exotic currency pairs, while for indices trading, clients can trade on major indices such as the S&P 500 and FTSE 100. In terms of commodity trading, clients can trade on popular commodities such as gold, silver, and oil.
The broker also offers trading on a selection of individual stocks and cryptocurrencies such as Bitcoin and Ethereum. With a wide range of tradable assets, clients of Londonex have the flexibility to diversify their portfolios and take advantage of various market opportunities.
Accounts
Londonex offers a range of live account types catering to different trading needs, including Raw, Standard, Fixed, VIP, and Crypto accounts, with minimum deposit requirement of $1,000, which may be a high barrier for some traders. However, the broker offers swap-free trading for all account types, which may be attractive to traders who wish to avoid overnight fees.
Additionally, the demo account provides an opportunity for new traders to practice trading without risking their own capital. It is worth noting that the broker currently does not hold any valid regulatory licenses, which may be a concern for some traders.
Leverage
Londonex offers a high level of leverage across its trading instruments, with up to 1:1000 for forex trading, 1:100 for indices and commodities, 1:50 for stocks, and 1:20 for cryptocurrencies. High leverage can potentially amplify profits, but it also increases the risk of losses, particularly in volatile markets.
Traders should exercise caution and use appropriate risk management strategies when trading with high leverage. It is worth noting that some regulators have implemented restrictions on leverage in recent years to protect retail traders from excessive risk.
Spreads & Commissions
Londonex offers competitive spreads across its different account types, ranging from raw spreads to fixed spreads. The Raw account offers the tightest spreads, starting from 0.0 pips, but with a commission fee of $10 per lot traded.
The other account types, including Standard, Fixed, VIP and Crypto, have wider spreads, but with no commission fees. The Crypto account stands out as it offers raw spreads without any commission fees, making it an attractive option for traders interested in trading cryptocurrencies. Overall, Londonex's spreads and commissions are competitive within the industry.
| Account Type | Raw | Standard | Fixed | VIP | Crypto |
| Spread | 0.0 pips | 1.0 pips | 1.5 pips | 0.4 pips | Raw |
| Commission | $10 | $0 | |||
Below is a comparison table about spreads and commissions charged by different brokers:
| Broker | EUR/USD Spread | Commission |
| Londonex | 0.0 - 1.5 pips | $10 (Raw), No Commission (Others) |
| SBI FXTRADE | 0.3 pips | No Commission |
| Interstellar FX | 1.0 pips | No Commission |
| LIGHT FX | 0.5 pips | No Commission |
Note: Spreads can vary depending on market conditions and volatility.
Trading Platforms
Londonex offers the widely popular trading platform MetaTrader 5 (MT5) for Desktop, Android, iOS, and Webtrader. MT5 is known for its advanced charting capabilities, multiple order types, and automation through expert advisors. With MT5, traders can also access a wide range of trading tools and indicators to aid in their analysis.
Additionally, Londonex offers the Webtrader platform for traders who prefer a browser-based interface. The mobile trading apps allow traders to access their accounts and manage their trades on-the-go.
Overall, Londonex provides a variety of trading platform options for traders to choose from based on their preferences and needs.
See the trading platform comparison table below:
| Broker | Trading Platforms |
| Londonex | MetaTrader 5 (MT5) |
| SBI FXTRADE | SBI FXTRADE PRO, MetaTrader 4 (MT4) |
| Interstellar FX | MetaTrader 4 (MT4), WebTrader |
| LIGHT FX | MetaTrader 4 (MT4), WebTrader, cTrader |
Deposits & Withdrawals
Londonex claims to offer various funding options including Bank Transfer, Local Transfer, MasterCard, Visa, Skrill, and Neteller for clients to make deposits instantly.
The minimum deposit amount is $1,000, which may be too high for some traders. The minimum withdrawal amount is $100, which is reasonable.
Londonex minimum deposit vs other brokers
| Londonex | Most other | |
| Minimum Deposit | $1,000 | $100 |
The broker does not charge any fees for deposits or withdrawals, which is a positive aspect. However, it is important to note that Londonex does not hold any valid regulatory licenses, so traders should exercise caution when making deposits or withdrawals with the broker.
See the deposit/withdrawal fee comparison table below:
| Broker | Deposit Fee | Withdrawal Fee |
| Londonex | None | None |
| SBI FXTRADE | None | None |
| Interstellar FX | None | None |
| LIGHT FX | None | None |
Customer Service
Londonex provides various channels for customer support, including live chat, phone, email, and online messaging, which are available 24/7. They also have an FAQ section on their website, which covers some of the common questions that clients may have.
In addition, clients can follow Londonex on social media platforms such as Twitter, Facebook, Instagram, and YouTube to stay updated on the latest news and developments.
Overall, Londonex seems to be dedicated to providing good customer service to its clients.
| Pros | Cons |
| • 24/7 customer support via multiple channels | • No info on address |
| • Live chat available | |
| • Active on social media platforms | |
| • FAQ section available |
Note: These pros and cons are subjective and may vary depending on the individual's experience with Londonex's customer service.
User Exposure on WikiFX
It is important to exercise caution when investing with any broker, and this includes Londonex. It is concerning to see reports of scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
In conclusion, Londonex offers a wide range of trading instruments across different asset classes and offers high leverage for experienced traders. However, the broker lacks proper regulatory licenses and there have been reports of scams. Additionally, the minimum deposit requirement is quite high. While the broker offers a variety of deposit and withdrawal methods and customer support options, traders should exercise caution when investing with Londonex.
Frequently Asked Questions (FAQs)
| Q 1: | Is Londonex regulated？ |
| A 1: | No. It has been verified that this broker currently has no valid regulation. |
| Q 2: | Does Londonex offer demo accounts？ |
| A 2: | Yes. |
| Q 3: | Does Londonex offer the industry leading MT4 & MT5？ |
| A 3: | Yes. It supports MT5. |
| Q 4: | What is the minimum deposit for Londonex？ |
| A 4: | The minimum initial deposit to open an account is as high as $1,000. |
| Q 5: | Is Londonex a good broker for beginners？ |
| A 5: | No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its too high initial deposit requirement and lack of transparency. |
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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FX2198346897
Vietnam
Many customer accounts are profitable, and the platform automaticlly withdraw profit from customer
Exposure
2023-05-06
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
phong9045
Vietnam
I can't withdraw but someone else calls me if I don't go all 4 lines, I won't let them withdraw, but according to the agreement, there is no requirement for any number of lines. then force me to be an investor is required to go big or not to withdraw ... I complained to the londonex platform
Exposure
2022-12-29
kim ngan4744
Vietnam
On December 23, 2022 I have invested 1500 usd in londonex exchange, until yesterday I did not see the money returned as they promised to pay on the evening of December 22, I sent a message to ask for support, it was immediately removed from the group and did not pay. money for me, as well as support me. have i been scammed?
Exposure
2022-12-25