de | cn | ru

LionsFX Review - is it scam or safe?

LionsFX Review - is lionsfx.com scam or good forex broker?

RATING: 1.3 / 4 REVIEWS LionsFX
LionsFX is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


 

Trading accounts and Conditions

 

  Min. deposit Min.trade size Max. leverage Spreads
Micro $100 0.01 1:1000 3 pips
Mini $1 000 0.05 1:1000 3 pips
Standard $10 000 0.1 1:500 2.5 pips
Premium $50 000 0.1 1:400 2 pips

 

LionsFX offers the above account types, as well as a swap-free (Islamic) and a VIP one. All accounts are commission-free and provide high leverage levels.

 

In addition, this broker offers managed accounts (PAMM).

 

LionsFX Advanatges:

 

- Many instruments available for trade

Clients of LionsFX can trade in a number of forex pairs, as well as CFDs on cryptocurrencies, indices and commodities. Such product portfolio is rather rich and diversified.

 

In case you are into Bitcoin trading, you may check out a list of tightly regulated brokers that offer such.

 

>>Trade Bitcoin with a licensed forex broker<<

 

- High leverage levels offered

As we have mentioned in the beginning, LionsFX offers high leverage ratios, reaching 1:1000. Brokers use leverage to help traders increase their purchasing power. Yet, this also means increased risk of losses, so be careful.

 

-xStation platform

LionsFX offers its services on xStation, which is an innovative user-friendly trading platform. It is based on open-API XOH Trader, developed by X Open Hub. xStation is customizable and equipped with an advanced charting package. Here is a preview:

 

 

 

LionsFX' xStation. Click on the image to zoom in.

 

In addition, this platform has a social trading feature called xSocial. It allows users to follow other traders and copy or contra-copy their trades.

 

- Promotions offered

This broker offers several promotions to its clients: on deposit bonus from 10% to 50%, as well as a refer a friend scheme. In order to withdraw the bonus, one has to meet certain trading volume requirements, as is usually the case with such bonuses.

 

LionsFX disdvantages:

 

- Registered offshore

Thousands of brokers are registered offshore, mainly due to the low-cost procures, favorable taxes and few (if any at all) requirements they have to meet. LionsFX is one of them, as it is registered in the Saint Vincent and the Grenadines. We generally advice traders to avoid such companies as doing business with offshore brokers is very risky and many of them are scams.

 

- High fixed spreads

LionsFX offers trading with fixed spreads and those on Micro and Mini accounts are quite wide, amounting to 3 pips on EUR/USD. By comparison, you can trade with 1 pip-spread with easyMarkets, a global forex broker regulated in Cyprus and Australia.

 

- Market maker

As is usually the case with fixed-spread brokers, LionsFX acts as a principal to all trades, which means that it is actually a counterparty to trades with its clients.

- MT4 not supported

While most brokers using the XOH Trader platforms also support the MetaTrader 4, LionsFX does not offer it. MT4 is highly praised for its great charting package, Expert Advisors (automated strategies), technical analysis indicators and customization options,

 

>>Use a MT4 broker<<

 

Conclusion

 

Apart from the trading platform, the offering of LionsFX is nothing special in the forex world. We like the fact that its product portfolio is rich and diversified, as well as the high leverage levels provided. On the other hand, the spreads offered by this broker are quite high and it acts as a Market Maker, which represent two significant disadvantages. Its most weak side, however, is the absence of regulation. LionsFX is operated by Alpinex Capital Ltd., a company registered offshore, in Saint Vincent and the Grenadines.

 

Offshore brokers are not required to report transactions, to meet any capital adeqacy requirements, to keep clients’ money in segregated accounts, etc. If you invest with such a broker, there is no guarantee you will ever get to see your money again, let alone any potential profits. That is why it is highly advisable that traders avoid offshore brokers and invest with brokers supervised by proper regulators, such as UK’s Financial Conduct Authority (FCA).

 

 

>>Brokers regulated by the FCA <<

 

 

Pros

Cons

Many various instruments available for trade

Registered offshore

Xstation available

High fixed spreads

High leverage levels provided

Market maker model

 

MT4 not supported

 

Latest news about LionsFX
No news about LionsFX. Check back later.
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for LionsFX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Lionsfx is 100% scam company

My heart aches each time I remember Lionsfx because this company scammed me badly.

This company will get call you telling you of how great they are trading and tell you to invest with them.

Their boss Alexander, and other two staff (Bosch and Leila) called & persuaded me for over six months promising that I don't even need any trading experience to make profit.

I eventually fell for their trick and deposited some money ($100) with LionsFx.

Unfortunately, since the day I deposited, have been trying to reach them but are totally unreachable and, i haven't receive any response till date.
They no longer call me, and all the contact information on their website are not functional.

I didn't bother to trade with the money, I just wanted to withdraw it but,
I made several withdrawal request to get my money back but none of it was granted.

They never responded to any of my calls, emails and Facebook messages again.

Sincerely they need to be dealt with by the law.

Dave 01/10/2019

LionsFx is 100% Scam company.

in addition,

Fortunately, I have all their calls with me recorded and saved on my laptop in case anyone needs a proof.

Dave 01/10/2019

I want my money back, I'm no more interested!

I invested some money with LionsFx, But since couple of months, have been trying to reach them. But i havent receive any response till now.

Alabi Abeeb Afolab 12/12/2018

LionsFX Complaint

I invested some amount of money which traded and made some little profit. I requested for withdrawal but Lionsfx would not give me back my money. In my opinion, they are a scam

Paul Elijah 12/11/2018
de | cn | ru