Lion Trader Review: Don’t Risk Trading with LionTrader.Io
|New York. 112 W 34th St, Manhattan
|+346 2845 0810
The home page of the Lion Trader website looks great, but that should never be enough to make you invest. In addition to the Lion Trader home page saying that it offers trading in currency pairs, indices, energy commodities, precious metals, cryptocurrencies, and futures, it also says that the company is headquartered in New York.
It would be nice if it were true. But all the additional information that would help users before investing is missing from the website. The links that should open the documents do not work. The leverage spread that Lion Trader offers is 1:200, which means that the broker is not regulated by a regulatory body and does not hold a license.
Any lack of information that should be transparent, clear, and unambiguous indicates that it is a fraud. That is why we do not recommend you invest money with Lion Trader. If you want to see all the mistakes that the broker made in order to appear in the market with his financial offer, read the Lion Trader review to the end.
How Are You Protected at Lion Trader? License and Security
Lion Trader deceives clients in every sense, including in terms of headquarters and having a license. The company lists 2 locations on its website, one is seen via the google maps widget and links to London, UK, while the other address is listed in text form at the bottom of the front page, where the company says its headquarters are located at New York 112 W, 34TH St, Manhattan.
No regulatory body for both locations allows leverages in the 1:200 range. This means, that Lion Trader is not regulated by the CFTC regulatory body, nor is it a member of the NFA. Also, the company is not even in the registers of FCA, the regulatory body in charge of the United Kingdom market.
Additionally, Lion Trader does not publish any legal documents on its website. And the broker itself is too big a risk for all its users because it can do whatever it wants in conditions where no one monitors and regulates it.
In addition, the website does not have encrypted protection, which means that your data is at risk of misuse, and there is also the possibility of picking up malware on your device.
Trading Platform Overview
Lion Trader says on its website that it offers the industry standard MetaTrader5. It would be nice if it were true, but this offer is nothing more than a marketing gimmick and a lie. In fact, Lion Trader probably does not even have a trading platform.
All links lead to non-commercial “website builder” sources. Since we were not able to get the software, we cannot know what the trading platform offers and how it functions.
But it is most likely that it does not exist at all, and even if it exists and can be used by registered users, probably the broker manipulates the trading platform so that it seems to investors that their money is being traded while it is actually in the hands of fraudulent brokers
Lion Trader Deposits and Withdrawals Process
There is no information on the website about what payment and withdrawal methods are available to users. What we do know is that the minimum deposit is $300, which is a lot when we look at the regulated market where you can open a micro account even for $10.
All other information, which clients should have before investing money, is not available on the website. This is another big red flag, as users must know how can they transfer their money before they make any big decisions.
How is the Scam Performed?
Like most scam brokers, Lion Trader also conducts the scam schematically. After registering new clients, the broker will do everything to extract as much money as possible from them, after which they will probably make it impossible to withdraw through the huge fees that fraudulent brokers use.
Fees are always a surprise to the client and are never highlighted anywhere in the documents until the client submits a withdrawal request. Since the company is not monitored by any regulatory body, users will have no one to turn to.
Lion Trader Summary
When we look at the whole picture after complete research, it becomes clear that Lion Trader is far from being called a broker. It is a cheap fraud and manipulation by which the broker robs innocent traders who invest in the company.
We hope we have warned you in time and we advise you not to invest in Lion Trader. If you are a victim of fraud by this broker, report it to your local regulatory body so that they can issue a warning against the fraudulent broker.
FAQs About Lion Trader
What Kinds of Accounts Does Lion Trader Have?
The bogus broker offers Standard, Gold, and Premium accounts, all with different minimum deposits and spreads.
How is My Security Ensured When Using Lion Trader?
The Lion Trader website does not have encrypted protection, which means that your device is at risk, as well as your data.
What Funding Methods Are Accepted at Lion Trader?
Lion Trader does not provide information about payment and withdrawal methods on the website.