Looking at the website of Lonmarkets.com, one might think that they are professional and will treat your money with at most care.
Unfortunately, this is far from the truth. Apart from being an unregulated Forex and CFDs broker, there are also a lot of complaints about them on the internet.
This is why we warn you not to sign up or trade with them.
Lonmarkets.com Review: The empty promises
While looking at their website, Lonmarkets.com appears to be the real deal.
They advertise zero commission and are also promising dividends to their clients. We do not understand for what reason that traders should receive dividends for using their services.
They also give unreasonable bonuses of up to 200%. This kind of bonus does come with a fine print which in most cases will restrict you from making a withdrawal.
They also claim that 98.5% of their orders are executed without slippage but we doubt this promise. It seems that Lonmarkets is just using marketing gimmicks to suck you in.
Also, in as much as Lonmarkets is claiming to have the tightest spreads in the industry, we feel that this is yet another lie as we are not able to ascertain if this is the case.
As we look at the spreads table, we find that the figures are just too good to be true.
Lonmarkets trading platform and assets
They offer the usual Forex and CFDs tradeable instruments on the MT5 trading platform.
However, this does not mean that the broker will not cheat you as we have seen several scam brokers like Lonmarkets offering MT5 software but still scamming investors.
We are also aware of the fact that this broker is enticing traders with crazy leverage. This is dangerous to new traders as it can cause heavy losses.
Such leverage is usually offered by scam brokers as legit and properly regulated brokers cannot go beyond the 1:500 leverage.
Lonmarkets is not licensed hence dangerous to trade with
LONMARKETS LLC is the company behind the corny website. We realized that they are very secretive as they do not even have a physical address on their website.
This means that if you are scammed or you happen to sue them, you will not be so lucky as the lawsuite has to be served to a certain address.
This is a serious red flag regarding this broker which is why we highly discourage trading with them.
By now, it’s obvious that the broker is not licensed either. Do you want to trade with an unlicensed Forex broker? Bad idea.
The reason being, an unlicensed broker is always abusing trading rules and even denying investors their funds.
This is the worst thing that can happen to poor traders on the internet but good thing is that you can always recover your money if you get scammed.
Just click the red box above and you will be helped by a money recovery agency that specializes in winning chargebacks for victims.
Lonmarkets is going to mess you up. Do not fall for the professional design of their website because this is a potent tool which they use to deceive investors.
We urge you to avoid the broker at all cost.