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LionsTradeFX Broker Review

LionsTradeFX Broker Review
Markus Silvester
LionsTradeFX is an unregulated broker that supports forex trading, digital options and cryptocurrencies trading. We were pretty exciting to see cryptocurrencies as they are all the rage nowadays. LionsTradeFX is promising trading in just 3 simple steps which is quite brave, as we all know it takes much more than just pressing buttons to achieve... Read more
LionsTradeFX is an unregulated broker that supports forex trading, digital options and cryptocurrencies trading. We were pretty exciting to see cryptocurrencies as they are all the rage nowadays. LionsTradeFX is promising trading in just 3 simple steps which is quite brave, as we all know it takes much more than just pressing buttons to achieve satisfactory results. In this LionsTradeFX review we will see if their promises are true, and explain our experience with their account types, software, customer support and banking methods. Make sure to read the entire review below.
2.5

  1. LionsTradeFX is an unregulated broker that supports forex trading, digital options and cryptocurrencies trading. We were pretty exciting to see cryptocurrencies as they are all the rage nowadays. LionsTradeFX is promising trading in just 3 simple steps which is quite brave, as we all know it takes much more than just pressing buttons to achieve satisfactory results.

    In this LionsTradeFX review we will see if their promises are true, and explain our experience with their account types, software, customer support and banking methods. Make sure to read the entire review below.

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    Your capital is at risk

  3. LionstradeFX Special features

    First, we were really excited to see what LionsTradeFX has to offer regarding different account types. The broker offers 3 account types:

    • Green
    • Blue
    • Black

    However, the names of different accounts are the only thing you will be able to find out about this broker. First, when we checked the account descriptions we noticed there are some explanations that make no sense. Instead of getting valuable information about minimum deposit, spreads and special benefits available, we encountered something that looked like a math problem we would have to solve in elementary school.

    We asked customer support for more info about accounts, but they failed to deliver. The agent was very salesy, and was insisting on us providing them our phone number. However, we firmly believe that every trader has the right to receive all necessary information prior to giving their personal data to the broker.

    LionsTradeFX Bonus

    LionsTradeFX advertises bonuses on their website. Traders must understand how bonus is not free money the broker is simply giving away, but have terms and conditions attached to it. Bonus policy can be found in Terms and conditions document.

    Terms and conditions state how the required trading volume is x40. Also, no withdrawals can be done prior to reaching the required volume. There is also an article in T&C that mentions how all withdrawals will be stopped until the trader reaches trading volume in the amount of the 25%, whether or not the bonus has been accepted. We consider that in case the trader hasn’t accepted a bonus, there is no reason for a broker to hold his money locked in. Traders have right to fair withdrawal conditions at any time.

    There are also some additional conditions regarding ‘refer a friend’ bonus, so make sure to check them out. Read terms and conditions prior to accepting any form of bonus or promotion.

    LionsTradeFX Demo

    We noticed there is a demo button in the upper right corner of the website, so we naturally, registered to check out the demo trading account. Unfortunately, we didn’t get access to demo trading. It seems that the button is only there to lure traders into registering.

  4. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  5. Testimonials FairForexBrokers Your capital is at risk

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    Join IQ Option and become a trading master! IQ Option is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. The best part? You can start trading with a minimum deposit of ONLY $10! Read our IQ Option review.

  6. LionstradeFX Trading software

    Most forex brokers take great pride in platforms they are offering as forex traders seem to be quite educated when it comes to level of quality of certain software providers. LionsTradeFX, on the other hand, doesn’t provide any additional information regarding the trading platform. Traders can check out the trading platform preview.

    LionsTradeFX Digital Options

    Digital options, in this case, are actually binary options. Traders can select different currency pairs, set expiry time and trade them as they would trade classic binary options. The only difference is that there is no ‘put’ and ‘call’ buttons, but ‘buy’ and ‘sell’. Expiry times range from 30 seconds to 5 months.

    LionsTradeFX Forex Trading

    The second tab on the trading platform is dedicated to forex trading, but we found some CFDs as well. However, the platform was loading so slowly, we weren’t able to check what tools it offers, but considering our previous experience, probably not much. When it comes to CFDs instrument – there were some basic commodities and indices offered. The platform didn’t manage to properly display ask and bid price levels.

    LionsTradeFX Cryptocurrency Trading

    Crypto trading suffers from same issues as other types of trading, with an additional issue regarding the organization of underlying assets. Traders can navigate a menu bar with tabs that doesn’t really make any sense, as it lists, for example, Ethereum as an asset type that includes other cryptos such as Ripple. All crypto traders know that these two are equally valid cryptocurrencies. Other available cryptocurrencies are: Dash, Bitcoin, Litecoin, Ethereum Cash…

  7. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  8. LionstradeFX Support information

    Customer support represents a great issue with this broker. The support agents are not very helpful, but rather sales oriented. This can cause many difficulties in attempt to get the right information at the right moment. Considering how customer support can make or break the deal, it is of crucial importance to test the support prior to making a deposit.

    Besides the live chat, traders can also use an online form in order to contact customer support. The website is available only in German and English, but customer support is available only in English.

    There is no educational section that can help traders gain more knowledge about forex, cryptocurrencies or financial trading in general.

  9. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  10. LionstradeFX Payment Methods

    LionsTradeFX accepts deposits only via two methods:

    • Bank wire
    • Credit cards

    There are no e-wallets offered, but that is not the thing that should worry you. After we took a closer look at T&C, we noticed there are some quite worrying conditions listed there.

    LionsTradeFX Withdrawals

    • Minimum withdrawal is $100.
    • All bank wire withdrawals are charged with $25 fee.
    • Accounts with an initial deposit or total deposits less than $5000 will have one withdrawal per 30 days.
    • Accounts with an initial deposit or total deposits more than $5000 will have two withdrawals per 30 days
    • Accounts with an initial deposit or total deposits more than $10,000 will have four withdrawals per 30 days

    In order to have the right for a withdrawal, the trader is obligated to reach the trading volume x30, even in case when they didn’t accept any bonus or promotion. If you haven’t traded for a month, the broker will charge you a fee up to $10 + 12% upon the first withdrawal. Dormant accounts are considered to be all accounts where less than 20 trades worth $25 each have been placed in the past 3 months and involve the same fee. Additional fees are regularly applied, at broker’s discretion. For example, verified accounts are charged with a $25 fee or 1.25% only for processing the withdrawal.

    Considering all these terms it is almost impossible to make a smaller withdrawal that can still bring you profit and cover all the fees listed above. Also, the broker is allowing up to 30 days for the funds to be visible on your bank account which is not acceptable in any case, especially considering that most brokers allow up to 7 days deadline.

     

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    12. Your capital is at risk
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