Londonstex: traders’ reviews, assessment of trading opportunities
Londonstex: shadow of dishonesty
The market of promises speaks volumes, but how not to fall victim to fraud, to avoid losses – an explanation using the example of Londonstex.
The Essence of Londonstex Company
Londonstex absorbs the curiosity of advertising statements. They claim that in 11 years of active work they have been awarded more than 30 times, and the number of active accounts exceeds 326,000. The data is there, but the authenticity is in question. Online reviews are dated August-November 2021. What was hidden behind the silence of traders for a long time?
Whois verification results showed that the company exaggerated its experience – the londonstex.com website started its activities in 2020 (updated July 13, 2021).
The concealment of the founders’ identities at Londonstex is a negative factor. Anonymity is more characteristic of scammers, bearing financial risks without honest accountability.
Regarding legal data – it’s unclear. London Stex LTD, according to them, is based in the UK, but the presence of a registration document does not indicate the legality of their operations. The Financial Conduct Authority (FCA) license is not included in the list of regulatory bodies presented on their platform:
Traders from Russia should also exercise caution. Russian localization and abundance of reviews online lead to reflections. The Forex Law 460-FZ, requiring brokers to be registered in the territory of the Russian Federation, be a member of a self-regulatory organization, and be licensed by the Central Bank of Russia, is not adhered to:
The Central Bank of Russia has blacklisted Londonstex for illegal brokerage activities:
By entrusting your funds to fraudsters, you deprive yourself of support from official regulators. It is better to be cautious.
Londonstex Offers
The fake broker Londonstex offers access to trading with various assets using their own trading platform. According to reviews, this is a manipulated software aimed at withdrawing deposits.
Detailed information on trading opportunities on the platform is not provided. Scammers target gullible clients and promise dubious bonuses without disclosing the main conditions:
- The demo account is limited to 5 days;
- Investing a thousand dollars into the account provides a personal manager;
- Depositing a large sum leads to a bonus of $10,000.
There is no evidence of financial reliability, but there is an abundance of negative reviews.
Traders’ Reaction to Londonstex
Recent reviews of Londonstex are overloaded with negativity. Deceived clients share their experiences, warning others of the scam.
Londonstex Scam Scenario
Like other financial fraudsters, Londonstex targets newcomers, mildly risky ones, pursuing profit interests. They promise prosperity, demonstrating convincing results in the beginning, until the trader stops investing. They then simply block the account. Compensation is only possible through chargeback, with the help of qualified lawyers.
Final Word
An independent review has revealed that Londonstex is a mix of financial fraudsters aiming to deceive their clients for their gain. They are not concerned about the well-being of their clients. It’s better to take care of your funds and heed the regulator’s recommendations to avoid dire consequences.