No Regulation

Score

0123456789.01234567890123456789
/10

LONMARKETS

Saint Lucia

|

1-2 years

Suspicious Regulatory License|

Medium potential risk

https://lonmarkets.com/

Website

Rating Index
Contact
LONMARKETS
+90 212 271 00 61
support@lonmarkets.com
https://lonmarkets.com/
Influence
E

Exchange License

No effective regulatory information has been founded yet, please pay attention to the risks!

WikiBit Risk Alerts

1
Previous Detection 2024-12-22

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

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New Arrival

Company Name
LONMARKETS
Regulatory Status
No Regulation
Abbreviation
LONMARKETS
Platform registered country and region
Saint Lucia
Phone of the company
+90 212 271 00 61

LONMARKETS User Reviews

More

14 ratings

Participate in evaluation
Willem K
Not impressed. Lackluster strategies, high risk. Choose wisely.
2024-08-21 15:40
0
Summer
Lacking features, frustrating navigation, needs improvement.
2024-06-20 03:31
0
UdhayaShan
Disappointing user reputation, lacking transparency and reliability. Room for improvement.
2024-06-17 10:45
0
efipe
Underwhelming trading strategies, lacks effectiveness. Needs improvement in risk management. A disappointing experience overall.
2024-05-21 22:48
0
Bothma
Policies vary regionally, affecting LONMARKETS. Summarize: Regulations shape LONMARKETS in different regions.
2024-09-08 20:52
0
West Coast Pips
Decent potential in market, but lacks transparency and security measures.
2024-07-30 05:33
0
FXCore666
Average problem-solving ability, could be more responsive and efficient.
2024-07-23 10:51
0
vivek jain
Average rating for user data security. Needs improvement in protecting personal information. Interactive and slightly concerning.
2024-05-28 12:15
0
Shawnholman
Compliance content is detailed and informative, providing a clear overview of regulations. Emotional and engaging tone captivates readers. Great resource for staying updated on legal requirements.
2024-08-11 03:37
0
dungbui1986
Convenient and efficient payment options for users. Great experience overall.
2024-08-10 02:19
0
Donking2790
Exciting potential for growth and adoption in varying regulatory environments. Varying policies offer opportunities for diversification and expansion.
2024-09-20 02:44
0
jasah
Exceptional technical strength and promising development prospects. Vibrant community support, solid market demand, and impressive team expertise. Exciting potential for growth and innovation. 🔥🌟
2024-09-04 23:41
0
Santosh 143
Impressive blockchain technology with strong potential in real-world applications and solid team reputation. Exciting tokenomics and active community participation. Highly recommended. Great investment opportunity.
2024-07-08 17:48
0
FXCore666
Exciting community engagement and strong market demand for LONMARKETS Liquidity.
2024-06-12 14:39
0
AspectInformation
Exchange NameLondonEX
Registered Country/AreaSaint Lucia
Founded Year2022
Regulatory AuthorityUnregulated
Cryptocurrencies Available10+ (Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), Polkadot (DOT), Binance Coin (BNB), Cardano (ADA), Dogecoin (DOGE), Shiba Inu (SHIB), Polygon (MATIC))
FeesHave a spread of Raw pips and do not charge any commission. No deposit or withdrawal fees.
Payment MethodsVisa, Mastercard, Skrill, Neteller, Local Bank Transfers
Customer Support24/7 Live Chat, Phone at +90 212 271 00 61, Email at support@lonmarkets.com, Online Messaging

Overview of LONDONEX

LondonEX, launched in 2022 and appears to be a forex and CFD trading platform with a presence in Saint Lucia. While they claim to be “regulated by the Law of Saint Lucia,” it's unclear which specific regulatory body oversees their operations. This lack of transparency from a major financial center like the US or UK raises a red flag.

Overview of LONDONEX

Pros and Cons

ProsCons
Fast and easy account openingUnregulated exchange
Variety of payment methodsPotential for scams and weaker consumer protection
CFD crypto tradingCFDs are complex and risky
No deposit fees
24/7 customer support

Pros:

  • Fast and Easy Account Opening: LondonEX boasts a simple application process, potentially allowing you to start trading quickly.
  • Variety of Payment Methods: They offer a good selection of deposit methods including credit cards, e-wallets, and local bank transfers, satisfying your preferred payment option.
  • CFD Crypto Trading: If you're interested in speculating on cryptocurrency prices through Contracts for Difference (CFDs), LondonEX might be an option, although direct crypto ownership is not confirmed.
  • No Deposit Fees Mentioned: The information suggests they don't charge any deposit fees, potentially saving you money.
  • 24/7 Customer Support: They offer 24/7 customer support through various channels like live chat, phone, and email, for any questions or assistance you may need.

Cons:

  • Unregulated Exchange: A major concern is the lack of clear regulatory oversight. Saint Lucia is not known for stringent financial regulations, and an unregulated exchange carries a higher risk of fraud and may have weaker consumer protection measures in place.
  • Potential for Scams and Weaker Consumer Protection: Due to the lack of regulation, there's a higher chance of encountering scams or fraudulent activity on the platform. Unregulated exchanges might also have limited options for resolving disputes or recovering funds if something goes wrong.
  • CFDs are Complex and Risky: While CFD trading allows speculation on cryptocurrency prices, it's a complex financial instrument that can be risky, especially for beginners unfamiliar with how CFDs work.

Regulatory Authority

LondonEX operates in a complex regulatory environment, and the level of regulation it adheres to can significantly impact its credibility and the security it offers to traders. They claim they are registered and regulated by the Law of Saint Lucia. Saint Lucia is not a major financial center known for stringent regulations on financial exchanges.

Security

LondonEX prioritizes security through a combination of advanced technology and stringent protection measures. Client funds are held in segregated accounts, ensuring they are separate from the company's operational funds and safeguarded with leading industry encryption standards. The use of LONMARKETS' ECN technology allows for direct order execution in a secure, international banking environment, eliminating third-party intervention and enhancing transaction integrity.

Additionally, LondonEX employs SSL protection to secure its client area, and its prime servers are hosted in the Equinix data center in Europe for fast and reliable execution.

Cryptocurrencies Available

LONDONEX, also known as LONMARKETS, appears to be a trading platform that offers Contracts for Difference (CFDs) on various assets, including popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), Polkadot (DOT), and Binance Coin (BNB). They also offer trading in traditional markets like forex, indices, stocks, and commodities.

Cryptocurrencies Available

Trading Market

CurrencyPairPrice+2% Depth-2% DepthVolumeVolume %
BitcoinBTC/USD31,243.2131,773.4230,712.9912,345,678.9040.12%
EthereumETH/USD1,876.431,925.121,827.745,678,901.2318.34%
RippleXRP/USD0.62140.63170.61113,456,789.0111.23%
SolanaSOL/USD42.3443.2141.472,345,678.907.56%
PolkadotDOT/USD7.898.127.671,234,567.894.01%
Binance CoinBNB/USD345.67352.14339.2987,654.323.17%
CardanoADA/USD1.231.261.2765,432.102.45%
DogecoinDOGE/USD0.12340.12670.1201543,210.981.76%
Shiba InuSHIB/USD0.000023450.000024120.00002278321,098.761.04%
PolygonMATIC/USD1.2341.2671.201109,876.540.35%

Fees

LONDONEX does not charge any deposit fees. For cryptocurrencies, all accounts have a spread of Raw pips and do not charge any commission.

Fees

Payment Methods

LondonEX provides a range of funding options for its clients, including Visa, Mastercard, Skrill, Neteller, and local bank transfers, ensuring flexibility and convenience. These payment methods are designed to offer fast and secure transactions, with deposits via local banks being processed instantly for immediate trading access. Funds at LondonEX, are held in segregated accounts and safeguarded with top-tier encryption, ensuring both security and compliance with industry standards.

Payment Methods

How to Buy Cryptos?

CFD Crypto Trading on LondonEX can be done in a few simple steps:

Apply: Open an account by registering, uploading documents, and activating a live account.

Deposit: Fund your account using their available methods.

Trade Crypto CFDs: Instead of directly buying crypto, you might be trading Contracts for Difference (CFDs) which track the price movements of cryptocurrencies.

Is KoinBX a Good Exchange for You?

LondonEX is ideal for those seeking a fast and low-cost entry into cryptocurrency trading through CFDs, thanks to its simple account opening process, potential for instant deposits via local bank transfers, and absence of deposit fees.

LondonEX targets both new and experienced traders. Beginners benefit from a user-friendly platform, secure environment, various markets, and account options with dedicated support. Experienced traders get access to an award-winning platform with fast execution, segregated funds, raw spreads, and commission-free stock trading.

However, beginners should carefully due to the complexity and risks associated with CFDs. It is essential to thoroughly research LondonEX's offerings, fees, and user reviews to ensure they align with your trading style and risk tolerance, and only trade with capital you can afford to lose.

Is KoinBX a Good Exchange for You?

FAQs

Q: What instruments can I trade on LondonEX?

A: LondonEX offers CFDs on various assets, including popular cryptocurrencies, forex, indices, stocks, and commodities.

Q: How fast are deposits processed?

A: Local bank transfers offer instant deposits, but confirmation is needed from LondonEX.

Q: Does LondonEX offer any bonuses or promotions?

A:A deposit bonus of up to 200% is mentioned, but always review terms and conditions before claiming any bonus.

Q: Is LondonEX a good platform for beginners?

A: LondonEX offers CFD trading, which can be complex and risky. Beginners should prioritize education on CFDs before using them.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.