Londonex is a forex broker that was registered in Saint Lucia on May 4, 2023, specializing in providing investors with financial trading services in forex, stocks, commodities, indices, cryptocurrencies, and more. The broker does not offer services in jurisdictions where it might violate local laws or regulations, including but not limited to North Korea, the United States, Puerto Rico, Canada, Japan, Iran, Iraq, Lebanon, Turkey, and others.
Company Registration Information and Regulatory Status:
According to public information on Londonex’s official website, its corporate entity registered at the Saint Lucia International Business Company and International Trust Registry (IFC) is Londonex Ltd. The company's registered address is Fortgate Offshore Investment and Legal Services Ltd., Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia, with a registration number 2023-00159. This entity is also registered with the Financial Services Regulatory Authority (FSRA) of Saint Lucia.
Upon verification, an entity named Londonex Ltd with the registration number 2023-00159 can be found at the Saint Lucia International Business Company and International Trust Registry (IFC). However, no record of this entity is found at the Financial Services Regulatory Authority (FSRA) of Saint Lucia, nor at any official financial regulatory bodies in other jurisdictions.
Information obtained from a Whois query shows that the broker's official website domain was registered on November 7, 2016. Moreover, as of January 22, 2024, the broker has been established for less than a year.
Account Opening:
To open an account with Londonex: Go to the broker’s official website, click “Sign up” in the top right corner to enter the account registration interface, fill in the personal information as required and submit. After submission, the broker will send a verification code to the email address provided by the user. Once the code is entered, the user can log in to their account. A complete verification of personal information is required to be able to deposit and engage in trading activities.
Account Types:
Londonex offers five different types of real trading accounts: Raw Account, Standard Account, Fixed Account, VIP Account, Crypto Account.
Raw Account:
- Spreads: From 0 pips
- Maximum Trading Leverage: 1:1000
- Trading Commission: $10
Standard Account:
- Spreads: From 1 pip
- Maximum Trading Leverage: 1:1000
- Trading Commission: $0
Fixed Account:
- Spreads: From 1.5 pips
- Maximum Trading Leverage: 1:1000
- Trading Commission: $0
VIP Account:
- Spreads: From 0.4 pips
- Maximum Trading Leverage: 1:1000
- Trading Commission: $0
Crypto Account:
- Spreads: Original spreads
- Maximum Trading Leverage: 1:1000
- Trading Commission: $0
Trading Platform:
Londonex’s official website claims to provide the MT5 trading platform to its users. However, upon investigation, the broker cannot be found on the MT5 platform. It can only be searched using its official website domain, where it is discovered that the domain on the MT5 trading platform can only connect existing trading accounts and cannot be used to open new demo or real trading accounts.
Deposits and Withdrawals:
Londonex does not disclose on its official website the supported deposit and withdrawal methods, fees, or minimum amounts for such transactions.
Conclusion:
Traderknows reminds investors that Londonex is a forex broker without effective regulation, and its deposit and withdrawal methods are unclear. Traderknows advises investors to stay away from Londonex when choosing a broker and to opt for brokers with transparency, strong regulation, and a good reputation for investment activities to prevent unnecessary financial losses.
Currently, Londonex is marked as 'suspected fraud' on Traderknows.
