LION TRADE ONLINE Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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The website of LION TRADE ONLINE can no longer be opened. I don't know whether this company has closed down or absconded with money. I feel lucky not to invest here, and it reminds me to continue to be vigilant.
Summary: The Lion Trade Online review reveals significant concerns regarding the legitimacy and reliability of this broker. Multiple sources classify it as an unregulated entity, raising red flags about user safety and the authenticity of its trading claims. Notably, the broker's alleged operational history appears fabricated, and its customer service lacks transparency.
Caution: It is critical to note that the geographical discrepancies regarding the broker's claimed headquarters and regulatory status are concerning. The findings presented here are compiled from various expert analyses and user experiences to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Score Brokers: Our ratings are based on a comprehensive review of user feedback, expert opinions, and factual data regarding trading conditions and regulatory compliance.
Lion Trade Online claims to have been established in 2006, but domain checks reveal that it has only been operational since July 2020. This discrepancy raises questions about its credibility. The broker advertises itself as offering a wide range of trading instruments, including forex pairs, indices, commodities, and cryptocurrencies. However, it lacks a recognized trading platform like MT4 or MT5, which is a significant drawback for potential users.
Moreover, Lion Trade Online has not secured any valid regulatory licenses, which is a major concern for traders looking for a safe trading environment. The absence of oversight means that users have little to no recourse if issues arise. According to the Lion Trade Online review on multiple platforms, this broker's claims and operational practices are largely viewed with skepticism.
Regulated Regions: Lion Trade Online operates without any regulatory oversight, which is a significant red flag for potential users. The broker claims to be based in the UK and the US, but no regulatory body, such as the FCA or SEC, recognizes it.
Deposit/Withdrawal Methods: The broker does not provide clear information about accepted deposit and withdrawal methods. Users are often left in the dark regarding how they can manage their funds, which adds to the overall distrust.
Minimum Deposit: The minimum deposit requirement is reported to be $300, which is higher than many regulated brokers that allow for smaller initial investments.
Bonuses/Promotions: There is no information available regarding bonuses or promotional offers, which is another common tactic used by unregulated brokers to attract new clients.
Asset Classes: Users can trade a variety of assets, including forex, commodities, and cryptocurrencies, but the legitimacy of these offerings is questionable given the broker's lack of regulation.
Costs: The Lion Trade Online review indicates that while the broker advertises competitive spreads starting from 1.2 pips, the reality of trading costs may differ significantly due to hidden fees and charges that are not disclosed upfront.
Leverage: The broker offers leverage up to 1:200, which is common among many forex brokers. However, the lack of regulation means that this high leverage can be risky for inexperienced traders.
Allowed Trading Platforms: There is no clear information on whether Lion Trade Online provides access to established trading platforms, which is a significant drawback for traders looking for reliable and proven tools.
Restricted Regions: The broker does not specify any restricted regions, but it has been noted that it operates in areas where regulatory oversight is minimal.
Available Customer Support Languages: Customer support is reportedly available in multiple languages, but the quality and responsiveness of this support are highly questioned based on user reviews.
Account Conditions: The lack of clarity regarding account types and conditions leads to a low score. Users report confusion and dissatisfaction regarding their trading accounts.
Tools and Resources: The absence of educational resources and trading tools is a significant drawback, as many traders rely on these to make informed decisions.
Customer Service and Support: Based on the Lion Trade Online review, customer service is often described as unresponsive and lacking transparency, which is a critical issue for traders needing assistance.
Trading Setup (Experience): The reported trading experience is marred by concerns of manipulation and lack of a reliable trading platform, leading to a poor rating.
Trustworthiness: With no regulation and numerous red flags, the trustworthiness of Lion Trade Online is rated very low.
User Experience: Overall user experiences have been predominantly negative, with many users reporting difficulties in withdrawing funds and a lack of support from the broker.
In conclusion, the Lion Trade Online review paints a concerning picture of this broker. With its lack of regulation, questionable operational history, and numerous user complaints, it is advisable for potential traders to exercise extreme caution and consider more reputable alternatives for trading. Always conduct thorough research and seek out regulated brokers to ensure a safer trading experience.
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