LONMARKETS, registered on April 3, 2023, in Saint Lucia, is a forex broker providing financial trading services such as forex, indices, stocks, commodities, and cryptocurrencies for investors. The company is headquartered in Istanbul. LONMARKETS does not offer services to jurisdictions that may violate local laws or regulations, including but not limited to the United States, Puerto Rico, Canada, Japan, Iran, Iraq, Lebanon, Turkey, etc.
Company registration information and regulatory status:
According to publicly available information on its official website, LONMARKETS is registered in Saint Lucia as LonMarkets LTD, with a company registration number of 2023-00112. The registered address is The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia, and the actual office address is Maslak Mahallesi, Sümer Sokak, Ayazaga Trade Center, No:3/14, Sisli, Sarıyer, Istanbul. The broker claims that LONMARKETS LLC is registered with the Saint Lucia Financial Services Regulatory Authority (FSRA) and is authorized and regulated by the authority. However, a Whois search reveals that the broker's official website domain was registered on March 14, 2022.
Upon verification, it was found that LonMarkets LTD is listed in the Saint Lucia International Business Companies and International Trusts Registry (IFC) with registration number 2023-00112. However, no regulated entity named LonMarkets LTD is found in the Saint Lucia Financial Services Regulatory Authority (FSRA), indicating that the broker does not have authorization and regulation from FSRA.
Account Opening:
To open an account with LONMARKETS, users need to register a personal account. They can click on the "SIGN IN" button at the top right corner of the official website to access the registration page. After filling out the account registration form and submitting it, the broker will send a verification code to the user's provided email address. Once the code is filled in, the user can log in to their personal account. After logging in, users need to upload proof of identity, such as ID or driver's license screenshots, for identity verification. After successful verification, users can deposit funds and open a trading account for transactions.
Account Types:
LONMARKETS offers users a demo account and five different types of real trading accounts: Raw, Standard, Fixed, VIP, and Crypto. The maximum trading leverage for all accounts is 1:1000.
- Raw account offers spreads starting from 0 pips and charges a $10 commission per lot traded.
- Standard account offers spreads starting from 1.0 pips and does not charge any trading commissions.
- Fixed account offers spreads starting from 1.5 pips and does not charge any trading commissions.
- VIP account offers spreads starting from 0.4 pips and does not charge any trading commissions.
- Crypto account offers spreads starting from 0 pips and does not charge any trading commissions.
Trading Platform:
LONMARKETS provides users with the MT5 trading platform.
Deposits and Withdrawals:
LONMARKETS supports users to deposit and withdraw funds through methods such as BigPay, FAST2PAYS Internet Bank, FAST2PAYS Virtual Account, VNPay, etc.
Customer Support:
Users can contact LONMARKETS for customer support through phone +90 212 271 00 61 and email support@lonmarkets.com.
Summary:
Traderknows advises investors that LONMARKETS is a broker not officially authorized and regulated by any jurisdiction's financial regulatory authority, with no avenue for complaints in case of issues. Traderknows recommends that investors choose trading platforms with legitimate regulation and good reputations to avoid unnecessary financial losses. Currently, this broker is marked as "suspected of fraud" on Traderknows.
