LionChains has a website that is so simplistic and plain you can hardly tell it belongs to a company. It’s as if a rookie web developer created a demo page as a part of a job interview, and the poor lad didn’t even do a proper job at it. Some parts are black and white, and others aren’t even loading.
So, how come this broker managed to defraud so many people in such a short timespan? Read all about the scary fraudulent strategies in our LionChains Review.
LionChains claims that their company is based in the UK, C1 Canada Square, London E14 5AX. The main language on lionchains.com is German instead. This detail immediately drew our attention. We found ourselves asking the question: is LionChains a German, or a UK firm?
The answer is, unfortunately, neither. We have conducted a thorough search with both the registries of the German BaFIN and UK’s FCA, and LionChains wasn’t in either of them. Their information is very reliable, as both of these financial regulators are some of the strictest in the world today.
Leveraged trading of Forex and CFDs come with inherent risks. Financial regulators have, thus, imposed strict frameworks to protect the interests of both the client and the company. BaFIN and FCA have very similar regulatory conditions, such as Negative Balance Protection, Segregated Bank Account requirement, and a cap on leverage to 1:30.
We have also checked the databases of other regulators – CySEC, ASIC, NFA, FINMA, AMF, and our search was fruitless yet again. That leads us to the conclusion that LionChains is an unlicensed, illicit brokerage that should be avoided.
Due to the insufficient number of reviews on TrustPilot – only 9 at the time of writing this review- we can’t tell with absolute certainty how traders exactly feel about LionChains. This also means that LionChains isn’t all that great and mighty how they like to advertise their firm. What generally made us worry is that practically all the reviews were negative. Although only several of them are posted, all of them reflect deep resentment with how they were treated and robbed. Take a look:
“Beware of the trading platform LIONCHAINS.COM. You are asked to make an initial payment of 250 dollars (by credit card on RDPUS.COM) and then more after the lure of allegedly large gains on BITCOIN (via blockchain transfer on CRYPTO.COM). You won’t be able to withdraw your winnings or even your investment. This scam has been reported to INTERPOL.”
“Lost my money, Use stolen broker profiles, start you off with $200 Euro then encourage you to put in more. Will let you take a little out to get you thinking you can! Spelling mistakes on their site, fake addresses, fake reviews, everything very recently dated, hidden who is, fake trading platform – all very clever. RUN”
It’s been less than a year since LionChains has first set their foot into the digital trading world. However, the victims just keep appearing, and every time the number of reports grows. It’s alarming how many people LionChains has managed to talk into investing and then snatched their fortunes right in front of them. Here’s a list of countries struggling with this scam the most:
Doesn’t matter if you reside in any of the mentioned areas. The point is that this fraudulent company has their sneaky agents lurking social networks across the globe. No one is basically safe from this sham. So be sure to take the necessary precautions, or just contact us in case you need help with anything related to safe investing and fund recovery.
Unfortunately, we’ve had some issues creating an account and managing the LionChains login proper, so we couldn’t test the software first hand. We did find out that the “award winning” Platform For Desktop is just a simplified web browser, but limited to accessing only the LionChains’ Web Trader.
Scammers do whatever they can to keep you losing money on their platform. This is why many of them have at least some form of mobile trading available.
LionChains has a large portion of their website dedicated to Forex trading. On whichever page you look, there are mentions of Forex Trading. That is unless you’re looking at the Assets page, where Forex is not on the list of Trading Instruments.
Additionally, browsing either Energies or Stocks will both lead to the list of Energies. When we said the website was unfinished, this is what we meant by that.
Here is what this faux broker claims to offer for trade:
Making even the lowest deposit with LionChains is not possible without first selling a kidney or two. While the features that you allegedly unlock seem very attractive, they’re not quite realistic. By that we mean personalized trading alerts and risk free trades, for example. Although, after learning that LionChains uses lies and fabrications to lure in victims, reading about such fictitious offers doesn’t surprise us.
Apart from the several types of packages, there’s a Savings account since LionChains offers investment services too, but it’s price isn’t given. We assume you’d first have to consult a scam agent in the skin of a dedicated account manager. Either way, here’s the pricing of the live trading accounts:
The persisting error during account creating didn’t allow us to proceed to the client area. Because of such a turn of events, we weren’t able to judge how the account funding process is designed to work.
A single part of the website that explains how the account funding works is the Deposits and Withdrawals page. There, it says something entirely different from what other parts of the website declare. Firstly, the minimum deposit requirement is allegedly $500, not $10,000.
Transfer channels you can use are only credit cards, or so this single page of the entire website states. It would be of no surprise if the client panel only listed crypto as depositing and withdrawal method available. One crucial fact allows LionChains to be so inconsistent and misleading with everything they say. And that’s the absence of any regulation.
That further leads us to wonder what other obstacles LionChains is prepared to put forth, just to prevent traders from accessing their funds and performing payouts. Additional fees maybe? Malicious bonus clauses such as the trading volume requirement and many more.
LionChains is a virtually anonymous, unscrupulous brokerage business with no legal permit to offer derivatives trading services. Supposedly a reputable company is actually a financial swindler, not known to a single Tier 1 regulator.
For that reason, we’re absolutely convinced that this company is not worth your time and money. Besides no valid trading permit and certificate, the broker doesn’t enable account registering and therefore doesn’t publish all the relevant information. What is the trading platform on LionChains and the exact trading conditions is beyond us.
Do not allow one unnamed con like LionChains to trick you into investing. However, if it has already happened, do not panic. Simply use the Online Chat feature on our website and get in touch with our employees. By booking a free first consultation, you can ensure that you will get the necessary information and the legal support you require to get your investment back.
LionChains pretends to be an online Forex broker, but does not have any license or authorization. This is a scam company, and they lie and steal from their clients.
The website has a special account called the Savings Plan. The broker doesn’t specify what purpose it serves. Other packages represent types of live trading accounts and the cheapest one costs $10,000.
LionChains is an unregulated broker. Withdrawing from such entities is exceedingly difficult, if not impossible. For assistance in recovering assets, contact our legal experts.
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