• Wed. Jul 24th, 2024

LonMarkets Review (lonmarkets.com) FRAUD EXPOSED – Lon Markets Scam Broker

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Byfraudulentbrokers.com

Jan 8, 2024
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LonMarkets (lonmarkets.com)
Conclusion
After you have looked into the details of LonMarkets, you can see the truth; it is not a genuine broker that it tries hard to be and is just another scam.
Broker Rating
0.1

LonMarkets (lonmarkets.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! Lon Markets scam works by getting you to believe you can become rich by trading with them.

LonMarkets

When you start looking at the various online brokers that are offering their services in the market, it will not take you long to become confused. Every other company you come across is making similar claims and promises and this can make it immensely difficult to choose one.

You could just skip the process and choose a broker at random, but this comes with its own risks. After all, there is no guarantee that the company is telling you the truth. You will find in this LonMarkets review just how important it is know the truth about a broker.


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LonMarkets

The internet is known to be a hotbed for scams and first looks are often deceptive. You will not be able to identify a fraudulent brokerage just by looking at its website. There are no warning signs, or alerts that will show you what you are dealing with.

As a matter of fact, these criminals actually put in effort to cover their tracks, which allows them to mislead people into trusting them. This is the pitfall that you want to avoid when you are going through the options. How can you do that?

It does not mean that you need to spend days, weeks or months researching the brokerages. The only thing you need to do is just ensure that everything the broker is claiming are not just promises, but it can truly live up to them.

If everything is as stated, you can go ahead and sign up and begin your trading journey. If not, then you should look for a different brokerage and the same strategy should be used in the case of LonMarkets. As friendly as the LonMarkets website appears to be, you cannot trust anything until you have done your own research.

This will certainly benefit you in the case of LonMarkets because you will find the truth about this broker, which is not something you would have figured out just by looking at its website. What is the truth? Read on to know more.

No licensing

To know the truth about any brokerage, all you have to do is look at their licensing. A legitimate company will always be licensed and authorized in the jurisdiction it is based in. A license is an indication that the brokerage has fulfilled certain requirements and its operations and activities are monitored by a regulatory authority.

Lonmarkets.com

It is also compliant with the region’s policies and laws and can be held accountable. In addition, it provides quality services that are fair and transparent and offers the utmost security.

Most scam brokers are unlicensed, so it makes sense that you should always go with licensed ones. But, this does not mean that you just take a broker’s word when it tells you it is licensed. Why? This is because it does not make it true, as you will learn in the case of LonMarkets. The broker has indicated that it is licensed and authorized, but the problem is that it has conveniently forgotten to share the name of the regulatory authority.

That should not be a big problem because you can check with the regulator yourself these days. But, to be able to do that, you need to know where LonMarkets is based. There is another surprise here because it turns out that the LonMarkets website has no corporate background or address available.

It is actually a virtually anonymous broker that you know nothing about. If you go through the Contact section, the only information you will find there is an email address and nothing more. They don’t even have a phone number that you can use to get in touch with them.

Regulatory warning

The fact that LonMarkets is an anonymous broker is already bad enough because you know nothing about it and are expected to trust it with your data and funds. But, it gets worse when you come to know that the Financial Conduct Authority (FCA) has actually issued a warning about it. The FCA is the regulatory body of the United Kingdom and one of the most renowned authorities in the world.

It has a reputation for being strict and its license is considered quite valuable. Therefore, it is understood that a warning from it is also very damaging. You will find that LonMarkets has been blacklisted by the FCA because it appears to be offering its services in the UK without a license.

No genuine company would ever commit this mistake because they would know that it would tarnish their reputation. The fact that LonMarkets is doing so shows that it is up to no good.

Issues with trading platform

The most vital feature that an online broker offers is its trading platform because this software is used for executing your trades and monitoring the market. It has to have the best technology and the set of trading tools that can make a big difference in your online trading experience. You will find that LonMarkets is offering both the MT4 and the MT5 trading platforms to its clients.

This sounds like excellent news because these are the leading trading platforms in the market. They come with top-notch technology and trading tools that have helped them become the choice of professional traders. But, when you go through the LonMarkets website, you will not find the MT5 available for download anywhere. There is a link to download the MT4, but the problem with it is that it is branded with the name of another broker that has nothing to do with LonMarkets.

It means that LonMarkets does not have a trading platform of its own, which means you cannot use its services for trading at al.

High leverage

When you check out the trading conditions that LonMarkets is offering, you will come to know that it is offering leverage ratios that go as high as 1:500. These are not allowed in many jurisdictions because leverage carries a lot of risk. Hence, these leverage levels should also be considered a warning about the intentions of the broker.

Closing Thoughts

After you have looked into the details of LonMarkets, you can see the truth; it is not a genuine broker that it tries hard to be and is just another scam.After you have looked into the details of LonMarkets, you can see the truth; it is not a genuine broker that it tries hard to be and is just another scam.

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