London-Gates is a broker that claims to offer a unique platform, good education and responsive customer support. That’s exactly what caught our attention and why we decided to write this review. We have to say if a broker manages to provide everything that’s promised it deserves to be on our top ten list.
If you believe this broker is a good choice for you, we have to warn you that you might have a hard time deciding what account you need to choose. Not because those explanations on the website are complicated, but because there are five different options, and that’s something you cannot find everywhere.
Each of these accounts allows you to trade with over 200 assets (CFDs, Forex, Indices, Stocks, Cryptocurrencies, and Commodities) and the main difference is the minimum deposit requirement. If you choose the smallest account, named Self-Managed, you will get market reviews and leverage up to 1:100 and you can deposit just $250.
If this doesn’t satisfy your trading appetite, there is a Select account that has a minimum deposit requirement of $10,000. For this amount of money, you will get a senior account manager, bonus funds, spreads from 1.5 pips, financial planning, monthly webinars and flexible leverage up to 1:200.
The personal account is third on the list and if you choose it, you will get everything we mentioned above, but as an addition leverage is much better (1:300), spreads go from 0.5 pips and there is tier-2 room analysis, spreads from 0.5 pips, and you need to make a deposit of at least $50,000.
The fourth account is called Honors, and this is the one where you have to deposit at least $250,000. This is an account for experienced traders who enjoy the powerful leverage that goes up to 1:400, ultra-tight spreads from 0.00 pips, prioritized withdrawal level-1, a special gift that is worth $5,000, and full access to the webinar.
Lastly, if you are used to custom-tailored solutions and you want something that fits you completely, there is an option to upgrade your account to Wealth Management one. This account is special since it’s created according to your trading needs. You will have unique conditions that will help you fulfil your goals.
Overall, we are more than satisfied with the accounts that are offered. This broker created a solution for every budget and level of experience, so even if you are new in this Forex world, you will be able to find an account that suits you perfectly.
Now that we saw how good trading accounts are, it’s time to see whether those accounts can offer an equally good education. There is an unwritten rule in Forex, if you want to improve your skills you need to work on your education every day and that’s why it’s so important to find a broker that offers different learning material.
People from London-Gates understand that, and they created a separate page in the main menu, called Education Center. Inside, you will find sections such as eBooks, Frequently Asked Questions, Asset Index and Glossary. Of course, the most interesting section for us was the eBook one. We were amazed to see that this broker provided books for beginners (Terms eBook, Beginners Strategies eBook, Capital Management) but there are also books for people with experience (Advanced Strategies eBook, Advanced Technical Analysis, etc.). So, there is something for each client, no matter the level of experience.
The best thing of all is that those books are completely free. You can read them even if you are not a client. You don’t even have to be registered on the website. But if you do open an account and make some deposit, you can count on much better courses and personalised coaching. Also, we have to mention the neatly-done Glossary that has some important definitions as well as the Asset Index that will explain everything about a specific company that might be your area of interest.
London-Gates offers a user-friendly trading platform that’s very easy for navigation. Even if you never used it, there is no need to worry. You will be able to manage your account and trade without a problem.
The design might be the main reason for easy navigation because it’s divided into three categories. The first category is on the left part of the screen and it’s dedicated to account management. The middle part contains the list of all tradable assets and you can arrange them according to your preferences (daily changes, popularity, name, etc.).
Lastly, the biggest part of the screen is an asset chart. You have to select the desired asset and that chart will appear. After that, you can customise it as you wish and honestly speaking, that’s an interesting thing to do. We spent a lot of time arranging all those details until we got the perfect results that are completely according to our preferences.
So, if you want to trade on a unique platform, London-Gates is an excellent choice.
We don’t see how things can go wrong with this broker, but it’s good to have an option to require assistance, just in case. If you have any problem, the easiest way to contact customer support is via Live Chat. Of course, this is not the only method. If you go to the Contact Us page, you can fill in the online form or send an email to their support.
Support is not constant, but their working hours are Monday to Friday 07:00 – 14:00 GMT which is more than enough. To test the responsiveness, we decided to send a message on Live Chat. The first thing that surprised us is that we didn’t receive a generic message. Instead, an agent greeted us and asked about our concern.
So, if you have questions, they will answer at the same moment if you send a message within working hours. Also, we have to mention that the agent was extremely helpful and polite. It’s obvious that London-Gates works on the education of the whole team which is great. We received full instructions and there was no need to reach out to them again which saved us a lot of time and additional trouble.
As a funding method client can use Credit Card, Bank Transfer or eWallet. This is a decent selection and the decision is totally up to you but keep in mind that you have to use the same method for both deposits and withdrawals.
Transaction speed is excellent, deposits are instant, and withdrawals take from seven to ten business days. This is not a lot since you need to go through Identity Verification and send them documents for review. Also, each account has a different prioritisation level, so the process can be much faster depending on the account you chose. Honestly, there is nothing negative we can say about this part. We have one responsive broker, who made sure to implement all security processes and create a safe environment for trading.
There is also one other thing that gained a lot of our attention. London-Gates gives you an opportunity to cancel a withdrawal request anytime and ask for a refund. This is not a very usual thing among brokers, so it adds a certain dose of security to us.
While we are discussing funding methods, we feel obligated to mention commissions. Luckily, there aren’t a lot of them here and if you visit the Terms and Conditions page, there is a section named Service Fees and Charges that contains every fee they charge. So, transparency is a big part of this broker. One of those fees is the Dormant Account Fee of 99 (USD, EUR, GBP) that will be automatically deducted from your account if you are not active for more than 30 consecutive days. As you can see, this is a reasonable price and apparently, this broker doesn’t charge every single thing on the website.
We are happy to tell you this London-Gates review ended up equally good as it started. This broker fulfilled every promise, there are no hidden fees and you won’t have negative surprises if you decide to open an account and deposit money.
If you are still wondering whether you should open an account at London-Gates or not, we do not see any reason to skip this broker. As promised, each client can enjoy the benefits of a responsive trading platform, excellent customer support and good education. If you ask us, this is everything you could possibly need from a Forex broker.