Is LionsFM a scam or legit broker?
No, it is not safe to trade with LionsFM, as it is an offshore company. LionsFM is owned and operated by EQUAL TARGET LTD. company with number 101932, incorporated in the Republic Of The Marshall Islands.
In fact, Marshall Islands is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors’ investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.
|🗺️ Registered in
|🗺️ Type of License
|🛡️ Is LionsFM safe to trade
|🗺️ Recommended Licenses
||FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
|🖥 Alternative Broker
||GO Markets - licensed by ASIC in Australia
LionsFM claims to have more than 10 years of experience in trading, with low risk assets and expedient advice. They offer access to the global forex trading market, with intuitive platform options, including the award-winning Trading Station.
Moreover, the broker has been blacklisted by the Austrian regulator FMA:
“LionsFM is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore not permitted to trade on a commercial basis.”
The pages and official sources of the international regulators’ list alert shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As LionsFM got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.
We strongly advise all investors and traders to avoid LionsFM and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and eToro.
You can also share your trading experience with LionsFM by commenting on this review.
LionsFM website is no longer active.