LittleFish FX (Littlefishfx.com) is an enticing prop trading company that is ultimately going haywire. Their main selling point is giving investors reason to believe they can manage $50,000 capital. The capital is said to belong to this firm, and any losses incurred will be on the company. They are also offering analytical tools, trading education, and trading systems. These are just some of the few services offered by the firm. It sounds too good to be accurate as no one will give unknown person custody of $50,000 in seed money.
They claim to have worked with retail traders since 2012 and have come a long way. What the firm sells is a story of how they help these retail traders become experts. They do this by claiming to offer the retailers education on how to trade with the robot. Claims of assisting traders to become consistent and profitable are unfounded. There is not a single trader that has come forward to back this claim. And this is another reason to stay away from the prop trading schemes. They offer no realistic way of trading and earning profits.
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LittleFish FX is coming out as a firm that is an angel when it comes to online trading. Giving traders company assets worth $50,000 is out of this world. And this is one of the biggest scams that is going around the web. How can they claim to give investors such a huge amount? What most don’t know is that the money is in the form of a demo account. These scam artists are turning a demo account into what they term as seed money. And a majority of investors have fallen for their antics.
Information regarding the Forex trading assets is missing on their website. And this is another reason to stay away as they are openly trying to entice users to sign up. By not giving further information, users are forced to sign up blindly. After signing up, members must meet a certain threshold to start trading. And this is where the platform takes advantage of those who signed up. They ask that you deposit an amount that will cover the risks involved with trading. The platform claims that they don’t want members to trade without some necessary information.
A while back, the platform or firm was supposedly owned by a person going by the name Sam Barry. Information on this person is not available on LinkedIn, where he started this scam. It seems that the social media platform has blacklisted the person for obvious reasons. What we do know is that the name has been used in other scams. They create profiles of developers with stock images to throw off prying eyes. It is the norm with such prop trading firms that appear to be angelic.
The comments we have seen so far don’t paint the real picture of what is happening. Most of the positive comments are from hired freelancers and keyboard masters. They will do or say anything to get their cut. And this includes having to lie on what the platform is all about. The few members who come out claim the platform is ever demanding more funds from them. And this is why no one should believe their fairy tale.
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Records do show that the site was registered on 12th November 2011. And this means that they have been in the industry for long. How authorities fail to catch and bring down the website remains to be known. Such platforms will most likely go under when numerous complaints reach authorities. So far, the complaint level is not enough to warrant a barrage of investigation from authorities.
There are eight services that the robot claims to offer to users. These include one on one mentoring sessions, institutional insights, and live analysis webinars. The other features available include Market map updates, Forex trading courses, and Forex indicators. After these primary services, the platform offers minor elements, such as flexible pricing models. The last element is tech support, where users can sign up to become their support staff. Note that members must pay for these services to be eligible for taking part.
LittleFish FX is NOT REGULATED to offer any trading services to investors. This includes providing any educational and promotional services to online investors. Records show that most of the traffic is from the United States. It would seem that the platform is mainly targeting investors from this region. The results are that both the CFTC and NFA have never heard of this props trading company.
Search done using the company register shows that there is no licensed entity under their name. It is proof that the platform is offering unregulated trading services to investors. The dangers of such a platform are lack of money-back guarantee services. Any funds deposited by investors don’t get insurance cover as expected. It is a good enough reason to stay away as no one is safe from such websites. They may decide to close down the shop tomorrow and fail to compensate investors.
LittleFish FX is selling their indicators for $45. After purchasing the indicator, it opens up to other plans to choose from. These plans include VWAP Indicator, Pin Bar Indicator, Psych Indicator, and VWAP Colored bars. Note that to get these indicator plans, users have already spent $45, which is nonrefundable. And this is why we believe that the props trading scheme is a pyramid scheme.
It should be noted that the website has no contact page where one can click. At the bottom of their homepage, users are asked to leave their names and email. What this means is that the owners may decide to contact you or not. Even after purchasing their products, members don’t get a direct line to support staff. And this means the owners are blocking any communication from their would-be victims. And this is the reason why we fail to trust whatever this website is selling.
The platform is all about preserving all the profits and losses. They expect that traders must make a 4.5 percent gain every three months. They are taking advantage of investors by forcing them to buy their educational packages. Another visible problem is the lack of information regarding their trading strategy. They should be able to inform users how they arrive at the signals provides. The lack of such crucial information is shocking.
There is a huge problem when it comes to the safety of users within site. Lack of DDoS protection and SSL encryption on their website is shocking. When purchasing any of the products, the process may get hijacked by hackers. Lack of a transparent security protocol is cause for worry. It is why hackers love such websites as they easily steal credit card information.
LittleFish FX is a scam that must be exposed by all parties concerned. They are using empty claims and promises to entice investors.
We have to protect our readers and ensure we send the program to our blacklist.
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