Lion FX Trader Review: Is Lionfxtrader.com SCAM?
Lion FX Trader is currently one of the most talked about trading systems in the community of myfxbook analysts and traders. In fact, there are as many as 700 comments that people have made with regards to Lion FX Trader expert advisor. That’s why it’s worth talking about it in this review.
We will be looking at their myfxbook account, user feedback as well as features that this developer has talked about on their sales page here — Lionfxtrader.com.
We already know that the owner of this robot is called Alex. However, it appears that Alexa and his team are not willing to reveal the location of their work base.
In our opinion, this could be a one-man army rather than a team. Our research proves that only Alex is involved in the creation and maintenance of Lion FX Trader EA.
Note: If you want a Forex trading product that will help you make money, check out this page. Then give me feedback.
Lion FX Trader EA review
Now, we must admit that the myfxbook account for this robot looks impressive. The problem, however, is that it is not well put together — that is, the website doesn’t look professional. It’s one of those sales pages that are considered an eyesore on the internet.
This can be seen right from the logo, content and website design in general. In fact, content of this website overlaps the screen, which suggests that this website template is not responsive.
We don’t think that traders will be convinced with such a website design in the first place. A website that publishes weird pictures of the dream life and obvious Forex broker affiliate links is best considered a scam.
This is in addition to having out-of-the place buttons which don’t even work. Moreover, due to the theme design, this website suffers from serious problems related to image alignment.
This certainly lowers the confidence of a would-be customer of the Lion FX Trader EA. Your expectation is supposed to take a huge hit when you come across such a sales page.
But in as much as this isn’t important with regards to the functionality or trade logic of the Lion FX Trader, it speaks volumes of words concerning who this developer is.
So design isn’t much of an importance. We will not let this cloud our judgement yet. There are more important things to talk about, like the trading logic of Lion FX Trader etc.
The first statement that caught our attention was that this robot was offering an opportunity to bring our search to an end. Lion FX Trader ea is supposed to be profitable after all. When you get hold of it, there will be no need to search elsewhere.
Nothing is wrong with this statement anyway. But the more the vendor uses such statements, the more we are enticed to research further. We do not want to rely on hype like in the case of Fluid Trader to make conclusions.
Therefore, let’s move to the next section of this review, which discusses the trading logic behind Lion FX Trader expert advisor.
We learned that Lion FX Trader swings on key support and resistance zones while also making use of various trading indicators to make sound judgement. It is allegedly good in mathematical calculations.
Alex says that this is a unique trading algorithm because of its build design where fixed TP and SL are used accordingly.
He also claims that Lion FX Trader EA is designed to cut losses early while letting the winning trades run for maximum profit taking.
According to Alex, this software does not use Martingale style of trading plus it is NFA/FIFO compliant.
In addition to this, Alex says that this robot is so efficient in risk management because it uses an efficient method of money management to ensure that your account is not wiped out, only profits added on a gradual basis.
Now, if we look at the price of the Lion FX Trader, we realize that it is inexpensive if you compare it with the rest of the robots in this market place. So that’s a credit there. But also do remember that cheap is always expensive. You are better off with a $300 worth trading expert advisor than a $100 worth expert advisor that losses money, right?
Of course we also appreciate the fact that Lion FX Trader utilizes support and resistance zones. Most successful manual traders utilize this style of trading, and they are profitable because of this.
Therefore, let us review their myfxbook results to see if indeed Lion FX Trader lives up to its promises and whether or not they are using these principles correctly. After all, it’s one thing to say that you are profitable and it’s quite another to produce evidence that will convince traders of the same.
This myfxbook account has been attracting so much attention since it got registered sometime in January 2016.
At the time of writing this review, the account had recorded a gain of +1289.51%. For the vast length of time that this robot has been in operation, it has recorded steady gains month after month. However, when we came to May 2017, Lion FX Trader took a big loss of 62%.
From there, this robot started recovering from the losses and now it appears to be recovering.
However, you also need to keep in mind that this type of drawdown is so huge. It could potentially eat a large chunk of your balance if it ever happens to you. The second reality that users of Lion FX Trader will have to live with is that it is always a possibility that this robot will experience such a huge draw down in the near future.
For the better part of 2016, this robot didn’t hit the 1.5K% zone. What this means is that Lion FX Trader could have blew up this account if this draw down came earlier than expected. That is the reason why we said that this threat is something that current users and potential buyers will have to keep in mind at all time.
So, what can we make out of this? Well, it means that this robot is potentially using a profitable yet high risk method of trading.
We are now looking at the monthly gains in this account. In the year 2016, the software recorded two losing months and one winning month. In 2017, there are 3 losing months and only one winning month. These winners are not anywhere close to those that happened in 2016.
This calls for updating the strategy that this robot is using in order to fit various market situations.
What are customer saying?
In the starting months, reviews were positive. However, as time went by, they started to deteriorate. Although we still have positive reviews here and there, they are becoming infrequent and mostly absorbed by the negative ones that claim which claim that Lion FX Trader is a scam product. The decision is with you now.
Wrapping it up
We do not know whether to recommend or blacklist this robot yet. We are sitting on the fence when it comes to judging matters pertaining to this product. While the trading logic is sound, it’s a bit of a challenge overlooking the past draw down and not worrying of a similar draw down in the future.