London Bridge Cap – Are They Safe?

Website URL: https://londonbridgecap.com

Founded: 2023

Regulations: Not Regulated

Languages: English

Deposit Methods: Bank Wire, Credit Card, Cryptocurrency

Minimum Deposit: $250

Free Demo Account: No

Number of Assets: 200+

Types of Assets: Forex, Stocks, Crypto, Gold, Indices, Commodities

Trading Accounts and Conditions

Here is the list of the types of trading accounts offered by London Bridge Cap:

• Self-Managed: The minimum balance for this account is $250. You are offered more than 200 tradeable assets and you get a flexible leverage of up to 1:100.
• Select: The minimum balance for this account is $10,000. You get more than 200 tradeable assets, a flexible leverage of 1:200 and spreads that start from 1:2 pips.
• Personal: The minimum balance for this account is $50,000. You get more than 200 tradeable assets, a flexible leverage of 1:300 and spreads that start from 0.5 pips.
• Honor: The minimum balance for this account is $250,000. You get more than 200 Tradeable assets, a leverage of up to 1:400 and spreads that start from 0.0 pips. You also get a special gift that is worth $5,000.
• Wealth Management: The minimum balance for this account is $250,000 upwards. You are asked to apply to the broker to get customized

There is no mention of other trading conditions such as order execution methods, commissions and fees, etc.

London Bridge Cap – Advantages

There are no advantages to doing business with London Bridge Cap.

London Bridge Cap – Disadvantages

Given below are all the reasons London Bridge Cap is not a safe bed:

• Lack of Regulation

In the footer of their website, London Bridge Cap claims to be owned and operated by a company called {{BRAND_CC}}. In their Terms and Conditions, this company name is not mentioned at all, and the contract is between this broker and the trader. The broker also does not provide us with an address or telephone number anywhere on their website.

We can only guess that this broker’s location based on the statements in their legal documents, where the broker claims to be governed by the laws of St. Vincent and the Grenadines (SVG). There is no other reference to a location or regulation status.

All of this tells us that we are dealing with an anonymously operating scammer, and here is how we know. We do not know where this broker is located, what company runs this operation or even how to contact them. Added to that, being located in SVG means nothing. The SVG Financial Services Authority, the local regulator, has stated clearly that they do not provide any regulatory oversight for forex and binary options brokers. So, even if a broker is registered in SVG, there are not regulated.

Therefore, London Bridge Cap is a scammer – unregulated and anonymous.

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• Poor Trading Platform

London Bridge Cap claims to offer their clients a carefully developed platform that you can use from your mobile phone while on the go. This, of course, is a lie.

We registered for an account to check how good their so-called carefully developed platform actually is. We found out that it is nothing more than a web-based trading software that has only the most basic functionality. There are no analytical tools such as market indicators, there is no automated trading, custom indicators, or even their promised mobile apps.

Basically, this platform offered by London Bridge Cap is nothing more than a rudimentary software that we have seen being used numerous times before with other scam brokers.

• Issues with Trading Conditions

Another red flag that tells us that a broker is a scammer is the quality of their trading conditions.

With London Bridge Cap, we see all the red flags that tell us that this broker is also out to scam traders.

Let us start with their minimum balance or minimum deposit requirement. The minimum deposit for their basic account is $250. While this is just about within industry standards, it is on the higher side of that limit. There are so many excellent and legitimate brokers that offer account openings at much lower costs nowadays, to the point that traders can open new accounts for as little as $10.

The spreads also look really good, starting at 1.2 pips. However, there is no spread mentioned for the basic account. Added to that, we do not know what the total cost of a trade is, which is the spreads plus commissions or fees.

The leverage ratios mentioned here are too high. Leverage tells us the risk of a trade. Too high a leverage means high risk. And while profits might be greater if that trade can be pulled off, most of the time, trades lead to losses. This is the reason why high leverage has been made illegal in most strongly regulated forex markets. Thus, in the UK, Australia or Europe, you cannot use more than 1:30 leverage. And in the US and Canada, that limit is set at 1:50. There are many more examples, but we just need to point out that leverages of the kind offered by this broker are illegal in many top markets.

• Bonuses and Withdrawal Policy

The fact that London Bridge Cap offers bonuses tells us that this broker is a scammer. Bonuses have been banned in most markets because of how unfair their withdrawal policies are. And this broker is no exception to that scam.

London Bridge Cap asks to you reach a trading turnover target of 50,000 times the bonus amount before they will allow you to withdraw your funds! Since that target is almost impossible to achieve, it means that you never get to withdraw your funds!

Conclusion

London Bridge Cap is a scammer and is therefore not a safe broker to deal with. We recommend that you look for a better broker to do business with.

London Bridge Cap

2.5

User Experience

2.3/10

Payment Options

2.8/10

Security

2.8/10

Support

2.2/10

Reputation

2.3/10

Pros

• None

Cons

• Lack of Regulation
• Poor Trading Platform
• Issues with Trading Conditions
• Bonuses and Withdrawal Policy