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Austria’s FMA warns of Lions Trading Club forex broker

Oct 11 2017
By
Jonathan Smith

Austria’s financial markets and services regulator FMA has warned that the brokerage Lions Trading Club Ltd. is not authorized to provide financial services that require a license in Austria.


In its typical curt style, the regulator does not give much other information, except that the company is allegedly based in Manchester and its web address.


Our check revealed that Lions Trading Club claims to be established by “Swiss financial experts” in 2016 and offers its services to big and small investors. The brokerage offers several types of investment instruments that include forex and digital currencies. There is also a copy trading package. The promised returns on investments vary to up to 50% per month from copy trading and 25% from forex trading.


Unlike most forex brokers, the Lions Trading Club does not provide the standard information on trading conditions, platforms and payment options and apparently it is not registered or properly regulated. Instead, the Lions Trading Club looks more like a blog.


Additionally, Lions Trading Club claims it mines Ethereum through its LTC Crypto Farm and an e-wallet service through LTC Cash that works both with fiat and the two most popular digital currencies: Bitcoin and Ethereum.


In our opinion Lions Trading Club is most likely some scam operation targeting unsuspecting and inexperienced potential traders and is best to be avoided.


There are properly regulated and well-established forex brokers that offer trading in forex and digital currencies, as well as copy trading.

 

  

TAGS: fma  austria  lions trading club 
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