LionTrader Review: Liontrader.io Avoid it!

LionTrader is a forex broker that trades forex, metals, indices, cryptocurrencies, and energies. The company boasts of being the first-ever forex trader based on the smart blockchain network. A smart blockchain network allows the use of one or more smart contracts. But, LionTrader does not use blockchain technology anywhere in its systems. They are just using buzzwords to attract unsuspecting customers.

The company claims to have 20+ years of team experience. Alexa ranks LionTrader as 8,836,597. This ranking is low for a company with more than twenty years of market experience.

On the surface, LionTrader appears to be a reputable, New York-based broker. You must be vigilant as you visit such financial websites. There are many forex brokers in the market. Yet, most of these companies are only in for the money. Some companies are using different schemes to attract customers. Fraudulent companies do not fulfil their promises. It is not easy to differentiate genuine forex brokers from fraudulent ones.

This review will look into the different aspects of this company. We will see whether it is worth your investment. There are legitimate forex brokers that deliver quality services. These companies fulfil their promises and have a long, impressive track record.

LionTrader Review

This company claims to have invested in technology. They also claim to manage trades quicker and more securely with their MT5 platforms, which is invalid. Meta Trader 5 is one of the most popular forex platforms in the market. The company has a high rating from its users. It is impossible to access or download the MT5 platform on the Liontrader platform, which is a shame. The firm is a fraudulent scheme that entices clients using false information.

They claim to work with websites that have “Automated trading software.” It is precarious to use automated software to execute your trades. It is easy to scam people this way. Furthermore, we have no idea what system they use for automated trading.

Despite Liontrader claiming to offer free training on their webpage, their education section is blank and inaccessible. It is shady. Beginners don’t stand a chance here. The website also claims that millions use its platforms. There is no evidence of funds withdrawal or customer interaction on the website. The company offers a trading bonus upon signing in for a trading account. Such rewards are usually not what they appear on the surface. Most fraudulent companies have a minimum trade volume rule. These, most times, are hard to charge back. There is no information on the webpage showing how clients to deposit funds.

Liontrader Accounts

The Liontrader webpage has two main account types. Those with swap and those that do not have. Swap is the change in interest rates when a position carries forward overnight. Under these major categories, there are three subcategories: Standard, Gold, and Premium. The platform has a demo and real account like most others.

The perks go up as you upgrade the account type. The accounts with swap are Standard with a minimum deposit of $300, Gold with $500, and Premium with $10,000. In comparison, the swap-free ones are Standard with a minimum deposit of $500, Gold with $1,000, and Premium with $50,000. 

Trading Conditions of Liontrader

The spreads range between 1.2 and 0.5 pips, while all accounts have 1:200 leverage. This leverage does not give Liontrader any advantage over other forex trader brokers, who offer up to 1:500. Additionally, the company claims that all the customers can access free training and 24/7 support, which is false information. 

Legitimate forex brokers accept fund payments via safe payment options like Debit and Credit cards. Liontrader does not specify to the customer what mode of deposit to use. Such fraudulent companies usually lure clients into making deposits in cryptocurrencies and wire transfers. Such payment options work to their advantage as they are not traceable. Clients become unable to track and reclaim their funds.

Always go for credit or debit card deposits when making deposits to any forex brokers. Depositing this way doesn’t hinder shady brokers from scamming you, but atleast there’s a chance to recover your funds. You may get a chargeback if you file for it at the bank that has issued you the card. 

Liontrade claims to place customer funds in segregated accounts. This statement is not verifiable as the company is not licensed and regulated as it states. Moreover, the company offers a compensation guarantee to its clients. It is a shady company. It is one of the schemes they use to entice you. You don’t want to lose your hard-earned money to such people.

Founders and Domain Information

A company’s background information should contain everything you need to know about the trading environment. A company should reveal Information about the people behind it. Doing so builds trust with the clients and gives an insight into what to expect from the company. Liontrade does not reveal its founders. Individuals operating fraudulent operations ensure they cannot be tracked down. 

The domain information for this company is also misleading. The website is registered under a different name, REDACTED FOR PRIVACY. It is a huge red flag. It is easy for Liontrade to disappear without a trace. The company bought the domain on 6th October 2021. Does it mean they have been operating for more than twenty years, as they claim, without a web domain? 

Regulations and Fund Safety

Liontrader claims to operate from both the U.S and the U.K. Some of the regulatory bodies are the NFA and FCA in the U.K and the CFTC in the USA. None of these has licensed Liontrader. It would help if you always were sure to invest with regulated companies. Either of the companies mentioned does not regulate Liontrader.

Additionally, there is no evidence of systems protection from hackers. This negligence puts customers’ funds at risk. Hackers can access and get away with their funds. Liontrader is also a compromise to your information security. 

It is a shame that the webpage indicates that Liontrader is a regulated forex broker. Whether a financial institution claims to be regulated, always do your due diligence before making any deposits. The disadvantages outweigh the advantages. Liontrader is not a company you should trust with your investments.

Final Verdict

Liontrader is not a trustworthy company. A relevant body does not regulate it. It is easy to assume this is a legitimate company by how it presents itself on its webpage. Yet, we have seen how this is entirely not the case. 

The company does not focus on protecting clients’ funds and information. Liontrader is not a transparent company. They fail to disclose important information, like its founders, to the clients. The location they provide as their address is not the same as their domain location. Further, the address maps in the middle of a road, not any specific building or office.

The company also claims to use Meta Trader 5 as its platform, which is invalid. Meta Trader 5 has proven to be one of the popular platforms. Liontrader, a scam company, is only a scheme to associate itself with MT5. Liotrader gives inappropriate and misleading information. Further, they use ridiculous bonuses to lure people into making deposits. 

Nonetheless, some companies will give you better services. They operate with complete transparency. These companies offer you a safe investing environment. Only use the best forex brokers in the market for the best trading experience.

 

Tags: LionTrader Review, Liontrader.io Review