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All funds are paced in regulated accounts in the US, Canada and Turkey. Due to these accounts being ‘on call’ all of the time, the funds may not be used for any bank or institution to lend. Cash accounts are valued as cash and nothing else. Lon-Ist also covers client funds along with personal guarantees from the founder.
- How secure is Garanti bank, deposits?
They are the second biggest bank in Turkey with over 6M private customers. Lon-Ist uses Garanti Bank for clearing and ATM card transaction.
- What happens in the case of Joe Lewis leaving?
If such an event were to happen, the remaining director would recover all accounts from the market and offer clients repayment. The managed fund would continue as it is built around other funds and property.
- What is there to stop the directors taking our money?
Any one, stealing money from clients is breaking the law. In the case of Lon-Ist, a director would be breaking the law and could be arrested, anywhere in the world, because our clients are international
- How is the trading performed?
Trading is performed electronically after analyzing through mathematical formulas and market trends.
- Who regulates my investment?
This depends on where your investment is placed. i.e. if trading on the currency market, all accounts are regulated by the CFTC in the U.S.
- What happens to our money?
Once you money has landed at our clearing bank, it is then allocated to our trading accounts for the forex market. Managed funds allocated to managed fund accounts.
Lon-Ist charges an agreed fee which is set when you open your account. There is a minimum of $40.00 per round turn. There are no hidden charges. If you want the money in your account, you get the money in your account.
- What is ‘worst case’ scenario for my investments?
There is always a risk involved with Forex because of its irratic nature, there is always the possibility that you could suffer substantial loses.
- How can I see your performance?
The best way is to refer to our “Managed Fund” results as this incorporates our forex trading and property investment. However, there are no guarantees apart from that your account will be managed with due care and professionalism with the intention of creating profit. Past results are no indication or guarantee of future performance.
- How do I see my statements?
Log on at the website using your username and password.
- What do I have to provide with my application forms?
We will require photo ID in the form of passport for each applicant even if it’s a joint account. We will need a utility bill from within the last 3 months that has the correct names and address on it. A mobile phone bill is not acceptable.
- Can I have a joint account?
Yes. Just complete the relevant forms and provide the correct proofs for both applicants.
- Can I open accounts for my children?
Yes you can open as many accounts as you wish but you will be the owner of these accounts until you wish to transfer them to other people. When you want to hand over the account to your children, we will need to complete an application for them as individuals.
- I don’t live in the UK can I still have an account?
We provide the whole range of financial products, corporate and private.
- What if I move to other country?
Simply complete a change of address form with proof of the new address.
- What access do I have to my money?
100%. We do not have a lock-in period.
- How can I withdraw money?
We can transfer direct to your bank account via international transfer or there is an ATM card available for Forex accounts if you have been with us for a min of 3 months and have over $25k in the account, by which money can be drawn out at any Visa cash machine in the world.
- How and when do I pay tax on my investments?
You are responsible for all taxes on any profit you might make. Taxes are charged by your inland revenue. All taxes due to be paid by Lon-Ist are on the fees we generate, not on the profit you make
Your account will be liquidated and passed to your estate. You can make other arrangements, but these should be made with consultation.
- What is the minimum requirement?
The bare minimum is $10000 with a completed client profile form with associate and company approval with full knowledge of the risks involved and the understanding that we do not accept money from people who are not in a position to lose it. However, we do recommend that clients invest $20000 initially as this would give them a ‘buffer’ and not leave their account as exposed to an initial negative month compared to a $10k account.
- Where is Lon-Ist Ltd/Lon-Ist International registered?
Istanbul. Turkey
- How long have Lon-Ist been established?
Formed in 2002.
- Why haven’t I heard of Lon-Ist?
We do not mass advertise, our clients are our adverts. Our motto is ‘Try us, Trust us, Tell your friends.’ The vast majority of our clients come from direct referrals. Also, unless you are already in Forex investments, it is not a sector that is common knowledge to the whole population.
- What is Lon-Ist liquidity?
It can vary but it is currently running at 57%, bare in mind that most high street banks run at an average of 9-14%.
- How much asset do you manage?
Currently we are managing over $50,000,000 and controlling in excess of $200,000,000
- Does your company provide, mortgages, pensions etc?
100%. We do not have a lock-in period.
- Where is your administration done?
Lon-Ist Ltd. is done in Istanbul Turkey and Lon-Ist UK is done in London UK and monitored by the Istanbul office.
- Do you lend borrow money?
No.
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