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London E-Management Review - is it scam or safe?

London E-Management Review - is londonemanagement.com scam or good forex broker?

RATING: 1 / 0 REVIEWS London E-Management
London E-Management is an offshore broker. Your money is not safe.

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Basic Information & Account Types

 

Account type  Min. deposit Max. leverage Spread
Standard  N/A  N/A  3 pips, fixed

 

London E-Management is one of these shady forex brokers whose offer is utterly unclear. It has not specified any trading conditions whatsoever on its website, and what is worse, its corporate situation is not any different. So, make sure you read our review before investing any money.

 

 

London E-Management Advantages

 

Not any significant.

 

 

London E-Management Disadvantages

 

Not licensed, FCA warning against it

Although London E-Management’s website is available only in French, the broker provides a registered address in the UK and claims to be owned and operated by LONDON EMANAGEMENT LIMITED. We checked whether this company is authorized by the local Financial Conduct Authority (FCA) and it turned out it is not. What is worse, we found out that the FCA has blacklisted this entity as a clone firm, warning investors against doing business with it. Here is a screenshot:


 

Furthermore, the FCA said that this is a popular scam tactic when contacting people out of the blue, and advised investors to be especially wary if you have been cold called by representatives of London E-Management.

 

Trading conditions not disclosed

As we mentioned in the beginning, London E-Management has not specified the minimum investment it requires, what leverage levels it provides, nor the minimum trade size. The broker only advertises spreads as low as zero on its website (which turned out to be untrue). Such lack of essential trading information and transparency is yet another worrisome sign, as it’s typical for con-artists.

 

MT4 unavailable, despite the claims

London E-Management claims to offer its clients the ever popular MetaTrader4, as well as some web trading platform. However, when we opened an account with the broker, the only option available in terms of trading interface, was SM Web Trader.

 

 

London E-Management’s SM Web Trader platform. Click to view larger.

 

Although the platform is not bad, it cannot be compared to the industry’s leading MT4, which provides more than 50 in-build analysis indicators, superior charting package and is designed to support automated trading strategies (Expert Advisors).

 


>> Check out the best MT4 brokers <<

 

 

Highs spreads

As you can see from the above image, the spreads offered by London E-Management are way above the average in the industry. The benchmark EUR/USD spread is fixed at 3 pips, whole most fixed-spread brokers offer 2 pips or lower for this currency pair. You can take a look at the spreads of some major forex brokers below:

 

 

>> Real-time spread comparison <<

 

 

Withdrawal issues

When we read the broker’s terms and conditions, we stumbled upon several clauses, which seem unfavorable to London E-Management’s clients. First, the broker states that withdrawals and deposits might incur additional fees, without specifying any amounts.

 

 

Second, E-Management reserves the right to delay withdrawals for up to 30 days (or more). Scammers often delay withdrawals and make up different reasons for this, but essentially their purpose is the client to fail to file a chargeback within 6 months of the initial deposit (which is the official deadline for such claims).

 

 Click on the image to view larger.

 

 

Conclusion

 

London E-Management is a forex broker that shares little information about itself and its offer, but our thorough investigation on the matter revealed that its trading conditions are actually not that good. What is worse, we have major concerns about the broker’s legitimacy – it is not regulated and was even flagged by the FCA as a clone firm.

 

This inclines us to suspect that London E-Management is just one of the many con-artists on financial markets, so you’d better not risk your hard-earned money on it. As always, we would advise you to invest in financial services providers regulated by reputable governmental agencies such as UK’s FCA or Australia’s ASIC.

 

 

>> Looking for a FCA-regulated broker? <<

 

 

To sum up our impression of London E-Management

 

Pros Cons
Not any Not licensed, FCA warning against it
  Trading conditions not disclosed
  MT4 unavailable, despite the claims
  Highs spreads
  Withdrawal issues

 

Latest news about London E-Management
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Traders` reviews for London E-Management

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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