LondonFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-27 12:22

Abstract：Founded in 2004, LondonFX is a forex broker registered in UK, offering leverage up to 1:200 and the leading Metatrader4 platform. However, LondonFX operates without regulatory oversight from any reputable financial body.

　　Note: LondonFX's official website: https://londonfx.com is currently inaccessible normally.

LondonFXReview Summary
Founded	2004
Registered Country/Region	United Kingdom
Regulation	Unregulated
Market Instruments	Forex, etc.
Demo Account	/
Leverage	1:200
Spread	/
Trading Platform	MT4
Min Deposit	$250
Customer Support	Tel: +61399387447, +441872303557
Customer Support	Email: support@londonfx.com

　　Founded in 2004, LondonFX is a forex broker registered in UK, offering leverage up to 1:200 and the leading Metatrader4 platform. However, LondonFX operates without regulatory oversight from any reputable financial body.

Pros and Cons

Pros	Cons
Variety of account types	Inaccessible website
MT4 supported	Unregulated status
	High minimum deposit
	Limited payment options
	Unclear withdrawal fee charged

Is LondonFX Legit?

　　No, LondonFX is not regulated currently. Please be aware of the risk!

Account Type

　　LondonFX offers three account levels that traders can upgrade to. Account type including Gold, Platinum, and Diamond. LondonFX claims the minimum deposit is $250, which is a bit high.

Leverage

　　LondonFX offersleverage of 1:200 for traders, which is quite high. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Desktop, web and mobile (iOS and Android)	Beginners
MT5	❌	Desktop, web and mobile (iOS and Android)	Experienced traders

Deposit and Withdrawal

　　LondonFX accepts payments via credit cards and bank transfers.

　　The processing time for withdrawal transactions is 2 business days.

　　Gold, Platinum, and Diamond Account holders get 1, 2, and 3 free withdrawals, respectively. This suggests that there are withdrawal fees, but the specific cost was not mentioned.