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Expert Advisors Reviews

Lion FX Trader EA Review - Is it scam or good forex system?

The Lion FX Trader automated system is a rather popular recent example of the dangers involved with grid-based trading strategies. We would advise you to read our basic explanation on the topic of grids, martingale and hedging, if you are not familiar with these terms.
 

Strategy


 
There is no clear information on the strategy behind the Lion FX Trader. However, judging by its recent trading, we can clearly state some sort of grid is involved. The system does not enter the market constantly, but when it does, it averages down i.e. reenters if price moves against it. Here is a snapshot of some of its recent trades:




This is in essence a highly modified grid system. The lot size does not increase with each next step (martingale), which is even more dangerous. In essence, Lion FX Trader only manages its loosing trades via adding to them.
 

 
 

Historical Performance
 

The historical performance of the Lion FX Trader is being tracked at MyFxBook. The system is run by the developers on a verified account, with Forex4you. The system has gained 678.2% over about a year and a half, but this is not the most impressive thing about the performance. Take a look at the chart:
 


 

While the gains are significant, the same can definitely be said for the recent losses. They came with a series of losing trades, as the system went against the newly formed uptrend in EUR/USD. Here is a recap:
 


 

The system’s historical drawdown looks like this:

 


 

The peak point is around 69%. While the system has started to recover the losses, most investors, who joined in at the high point would definitely not be satisfied with the results. This is the danger of averaging down, we wanted to illustrate. While the Lion FX Trader has made even greater profits, before this massive loss, it is still hard to take.
 
 

The Lion FX Trader scores poorly, in terms of average pips per trade, only 2.5. This number is important because it represents the average expected results for each trade the robot places in the future. Lower values make the system more vulnerable to increase in spread, slippage and “bad luck”. We do not recommend trading with systems, who score under 3 pips/trade, while 5 is a much more stable level. The Lucky Pound EA, for instance has a 7.5 pips/trade reading, which makes it much more solid.


Pricing
 
 

The developers behind the Lion FX Trader have chosen the license model of funding. The current price of this EA is $137 for three licenses and $157 for five. These allow lifetime trading, but are connected to a single MetaTrader 4 account each.
 
 

Bottom line
 
 

The Lion FX Trader has had an interesting run. While the system has made a lot of gains, it has lost back most of them. It uses some sort of grid based strategy to manage losing positions and this is the result. The average pips/trade score of this system is too low, as a result of the massive losses. Hopefully we made the point about the dangers of grid-based trading.

 

TAGS: lion fx trader  lion fx trader ea  lion fx trader review  lion fx trader scam  lion fx trader grid  lion fx trader drawdown 
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySEC in-house mobile
app
$50 Review Website
Seychelles FinaCom MT4 $10 Review Website

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