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It's a CONFIRMED scam broker/company, recover your stolen funds by filling out the form below and you will get a FREE Mychargeback consultation today:
A warning from CONSOB means the regulator found red flags on LionFXM. The platform was red-flagged after investors and members realized withdrawal was a problem. No one enjoys a payout after investing and eventually trading with Lion FXM. And this led regulators to issue a stern warning on anyone investing with lionfxm.com. It’s best to know some of these red flags. Here’s more in our detailed LIONFXM REVIEW.
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We can see LionFXM targets, Italian investors, and traders in the website’s default language. The platform claims to be the King of investing and allows you to trade like the Lion King.
You get a platform claiming to have over 400 trading instruments and over 1 million clients. If the platform had such a large clientele, we would have heard about it. Certainly, even established traders in Italy would have heard of lionfxm.com.
There’s no background or history of this platform. And this opens up investors to a huge issue. The platform tries to hide vital information from the word go. You won’t even know the available account features unless you sign up.
As a trader, these are important aspects you need to know beforehand. It gives you an idea of what to expect in terms of leverage and spreads. Unfortunately, the platform knowingly leaves out this crucial information.
Avoid investing with such platforms or risk losing your deposit as members face right now. No one has made any withdrawal for the past six weeks. And this points to a platform that plans to exit the market.
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Before investing in any platform, experts recommend that you do due diligence. Try and find out what makes a platform tick. These include finding out the experiences of other investors with the platform. You can read our reviews on all crypto and forex products and service providers for a clue.
There are several pros and cons found on the platform. In this lionfxm.com review, we will weigh in on all the platform’s features. After all, we have to explain why CONSON issued a warning on Lion FXM.
Here are the main reasons why you should avoid investing with lionfxm.com;
LionFXM fails to give members information on the available accounts. As a result, members have to sign up and start trading without knowing whether there are any classes of accounts. And this could mean that the platform offers one account for all.
Investors are left in the dark with the platform failing to offer any account information. You don’t know the acceptable leverage or spreads available with these accounts. You have to sign up, deposit funds, and start trading with the set features.
It gives members no chance of choosing accounts suitable for their trading style. For one, we have a huge problem with the maximum leverage set by the platform. We see maximum leverage of 1:200 for forex assets.
One of the reasons why CONSON issued a warning was the high maximum leverage. Regulators have put a cap on leverage at 1:100, especially in Europe. These regulatory framework helps curb huge losses.
In the United States, retail traders enjoy maximum leverage of 1:50. The regulator wants to protect investors as this could be a huge loss. So you need to stay away from such platforms or risk losing your trading position.
Another issue with lionfxm.com is the available minimum deposit. The platform will insist that the more you deposit, the higher your chances of winning. These are false narratives that target naïve investors.
Regulators have weighed in on the acceptable minimum deposit. In all jurisdictions, the acceptable minimum deposit is €$250. The platform will want investors to deposit more and eventually lose everything.
There are four classes of trading instruments available on the platform. These include commodities, forex, indices, and stocks. Some of the available commodities include coffee, cotton, wheat, etc.
Forex trading is at the core of the platform’s activities. You get to trade major and minor currency pairs. These include USD/GBP, EUR/GBP, USD/JPY, etc. There are no mentions of any spreads with forex assets.
Indices also play a huge role in ensuring that day traders make a profit. Some of the leading indices found include DAX, Dow Jones, Nikkei, S&P 500, etc. Make sure to use platforms that guarantee withdrawal before investing in indices.
You get to own a piece of a company while trading its shares. Some of the companies found include Amazon, Facebook (Meta), Google, Netflix, etc. It’s an incentive for day traders who trade companies from different sectors.
Despite claiming to reside in Italy, there’s no business registry on the platform. As a result, we don’t know who owns or runs lionfxm.com. And this means investors are dealing with a rogue platform. Avoid investing in any anonymous investment platform.
The problem with anonymity is that you won’t get the chance to recover funds. So those who hire recovery agents end up losing more. A recent survey shows that members who sought recovery services didn’t get a penny.
Andrea Lorenzo is one such victim who lost funds with the platform. After depositing €4,000, he expected to make a killing within three weeks. The trading went well, and he made €1,200 from his trading.
After requesting a withdrawal of his initial deposit, all hell broke loose. The platform failed to release any funds. Nevertheless, he now has €5,200 to his name on the platform. His next option was to hire a recovery agent who demanded legal fees.
The agent was asking for €1,000 in exchange for his services. After paying the fee, Andrea didn’t hear from the recovery agent again. We believe these agents are the final nail to the coffin. Avoid investing in anonymous platforms.
Expect no contact or support from the platform. Those who have invested with the platform end up losing their investment. We have seen this happen way too many times before. Platforms that limit communication to written form are not ideal.
You should sign up with a platform that’s open to direct communication. Check and try to call a platform and see whether staff members will talk directly. A genuine platform will open all communication avenues to investors.
There are several depository options available on the platform. These include bank and wire transfers as well as Crypto deposits. The platform will insist on the latter due to the anonymity involved.
Withdrawing funds from the platform remains the biggest challenge facing investors. But unfortunately, no one will get the chance to withdraw funds. That’s one of the other reasons why CONSOB warned investors from signing up.
Your funds are far from safe with a platform that fails to segregate accounts. The platform fails to offer insurance cover for deposits made by investors. There’s no regulator to protect the interest of clients.
NO! Lion FXM is facing a warning from CONSOB.
Please stay away from lionfxm.com.
PS: You should go for reliable investment options endorsed by the trading community. Check out these investment choices.
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