LondonFX

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

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

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

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.