LonRoad Limited is a forex broker whose official website domain was registered on February 16, 2024. It primarily offers investors trading services in financial derivatives such as forex, stocks, futures, energy, precious metals, and cryptocurrencies. The address of its headquarters is unknown. This broker does not provide services to jurisdictions where it may violate local laws or regulations, such as North Korea, Israel, China, Vanuatu, and Cuba.
Corporate Registration Information and Regulatory Status:
According to the official information on the LonRoad Limited website, its headquarters are located in New York, USA. The company is registered with the United States Financial Crimes Enforcement Network (FinCEN), with an MSB number of 31000263262302. Additionally, this broker is registered with the National Futures Association (NFA) in the USA, with an NFA ID of 0561418.
Upon verification, it was found that the National Futures Association (NFA) identifies the registration number 0561418 as belonging to SMART GLOBAL, which is registered as a non-member entity and is not regulated by the NFA. The entity registered under the MSB number 31000263262302 with the Financial Crimes Enforcement Network (FinCEN) is also SMART GLOBAL. However, FinCEN does not offer regulation for trading in financial derivatives.
Furthermore, the web design and content of this broker are identical to those of other broker websites, including Maxtra, Smart Global, Booc, Ruiz Capital FX, IEXSpro, Go Markets Pty Limited, Diamond Road, Maxtra Financial Limited, CPT Limited, Unisnfx, and XCY Global Ltd.
Account Opening:
To open an account with LonRoad Limited: Visit the broker's official website and click the "Register" button on the homepage or the top right corner of the page. Fill in your personal information such as name, email address, etc., and set a login password to submit your application. Once submitted, your account will be successfully registered.
Trading Account Information:
The official website of LonRoad Limited only discloses information such as spreads, trading leverage, margin call/stop-out levels, and contract sizes. However, information regarding account types, trading commissions, minimum/maximum trading volume, maximum number of positions/orders, and minimum price precision has not been disclosed.
- Spread: Variable spread, starting from 1 point
- Trading Leverage: 1:100—1:500
- Margin Call/Stop-Out Level: 100%/50%
- Contract Size: 1 lot = 100,000 units of currency
Trading Platform:
LonRoad Limited provides its users with the ST5 trading platform.
Deposits and Withdrawals:
LonRoad Limited has not clearly disclosed the supported methods of deposit and withdrawal, fees, and the minimum amount for transactions on its official website.
Conclusion:
Traderknows reminds investors that LonRoad Limited is a forex scam website with opaque registration and regulatory information, and suspected of false advertising. It can only be contacted via email with extremely limited contact information. The website design and content are identical to those of brokerage websites such as Maxtra, Smart Global, Booc, Ruiz Capital FX, IEXSpro, Go Markets Pty Limited, Diamond Road, Maxtra Financial Limited, CPT Limited, Unisnfx, and XCY Global Ltd, indicating potential fraudulent behavior. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
LonRoad Limited is currently marked as "suspected of fraud" on Traderknows.
