Aspect	Information
Company Name	LION
Registered Country/Area	Cayman Islands
Founded Year	2016
Regulation	SFC (Futures contracts), CIMA, MAS, and SFC (Dealing in securities, out of scope bussiness)
Minimum Deposit	$100
Maximum Leverage	1:500
Spreads	From 0.0 pips
Trading Platforms	Web-based and mobile trading platforms
Tradable Assets	Forex, commodities, indices, cryptocurrencies
Account Types	standard account, professional account, and ECN account
Demo Account	Yes
Customer Support	24/5 customer support via live chat, email, and phone
Deposit & Withdrawal	Credit/debit cards, bank transfers, e-wallets
Educational Resources	Webinars, tutorials, articles, and e-books

Overview of LION

Established in 2016 and headquartered in the Cayman Islands, LION emerges as a dynamic force in the world of online trading. This broker is distinguished by its regulatory compliance, offering a secure and accountable trading environment. Regulated by various authorities, including the SFC for futures contracts, CIMA, and MAS, but exceeded with SFC, dealing in securities.

With a minimum deposit requirement as low as $100, LION ensures accessibility to a broad spectrum of traders. The broker's substantial maximum leverage of 1:500 provides traders with the potential to amplify their positions, while competitive spreads starting from 0.0 pips enhance cost efficiency.

RLION combines accessibility, regulatory compliance, comprehensive support, and educational resources to create a platform that caters to traders of all levels.

Regulatory Status

LION operates as a regulated entity in the financial sector, adhering to stringent regulatory standards set forth by several reputable authorities. This commitment to regulatory compliance ensures a secure and accountable trading environment for its clients. Here is an overview of LION's regulatory status:

SFC (Securities and Futures Commission) - Futures Contracts Regulation:LION is regulated by the Securities and Futures Commission (SFC) in Hong Kong for its activities related to futures contracts. This regulation signifies LION's compliance with the regulatory framework governing futures trading, providing assurance to traders regarding the broker's adherence to industry standards and best practices.

CIMA (Cayman Islands Monetary Authority) - Offshore Regulation:LION is regulated by the Cayman Islands Monetary Authority (CIMA). As an offshore regulatory authority, CIMA oversees financial activities within the Cayman Islands jurisdiction. While offshore regulation can vary in stringency compared to major financial centers, it still imposes essential standards on financial entities like LION.

MAS (Monetary Authority of Singapore) Regulation:LION is regulated by the Monetary Authority of Singapore (MAS). MAS is the central bank and financial regulatory authority in Singapore, responsible for overseeing and regulating financial activities in the country. Regulation by MAS underscores LION's commitment to compliance with Singapore's financial laws and regulations.

SFC - Dealing in Securities (Exceeded Regulation):In addition to its regulation by the SFC for futures contracts, LION has also exceeded the regulatory requirements of the Securities and Futures Commission for dealing in securities.

Being regulated by multiple reputable authorities provides traders with confidence in the broker's operations, ensuring that it operates within a framework designed to protect investors and maintain the integrity of the financial markets.

Pros and Cons

Pros	Cons
Low Minimum Deposit	Limited Educational Resources
High Maximum Leverage:	Limited Account Types
Competitive Spreads	Limited Payment Methods
Diverse Tradable Assets	Limited Transparency on Islamic Accounts
Versatile Trading Platforms

Pros:

• Low Minimum Deposit: LION offers accessibility to a wide range of traders with its low minimum deposit requirement of $100. This allows both new and experienced traders to get started with a relatively small investment.

• High Leverage: The broker provides a substantial maximum leverage of 1:500. This high leverage can amplify trading potential, enabling traders to control larger positions with a relatively smaller amount of capital.

• Competitive Spreads: LION offers competitive spreads starting from 0.0 pips. Competitive spreads reduce trading costs, which can be advantageous for traders looking to maximize their profits.

• Diverse Tradable Assets: Traders have access to a wide range of tradable assets on LION's platform, including Forex, commodities, indices, and cryptocurrencies. This diversity allows traders to diversify their portfolios and explore various global markets.

• Versatile Trading Platforms: LION provides both web-based and mobile trading platforms, catering to traders' preferences for where and how they execute their trades. This versatility ensures convenience and flexibility.

Cons:

• Limited Educational Resources: LION may have limited educational materials available for traders seeking comprehensive learning opportunities. More extensive educational content could enhance the trading experience.

• Limited Account Types: While LION offers a range of account types, the variety may be limited compared to some other brokers. Traders with specific requirements for account types may find options constrained.

• Limited Payment Methods: The availability of payment methods for deposits and withdrawals on LION's platform may be restricted. This could inconvenience traders who require specific payment options.

• Limited Transparency on Islamic Accounts: Information regarding Islamic accounts, which adhere to Islamic finance principles, is not readily available. Traders who require Sharia-compliant accounts may find it challenging to determine if such accounts are offered.

Market Instruments

LION offers a diverse range of financial products for traders to access and trade on their platform. These products span various asset classes, providing traders with opportunities to diversify their portfolios and explore global markets. Here's a concrete description of the products offered by LION:

1. Forex (Foreign Exchange): LION facilitates trading in the Forex market, the world's largest financial market. Traders can engage in the buying and selling of currency pairs, such as EUR/USD, GBP/JPY, or USD/JPY. Forex trading allows participants to speculate on the exchange rate movements between different currencies.

2. Commodities: Traders on the LION platform have access to trading commodities. These physical assets include precious metals like gold and silver, energy resources like oil and natural gas, and agricultural products like wheat and coffee. Commodity trading enables investors to capitalize on price fluctuations in these essential global resources.

3. Indices: LION provides opportunities to trade on indices. These are measures of the performance of groups of stocks or bonds. Traders can speculate on the overall performance of specific indices, such as the S&P 500 or the FTSE 100, without trading individual stocks.

4. Cryptocurrencies: LION allows traders to participate in the cryptocurrency market. Cryptocurrencies are digital currencies created using blockchain technology. Popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are available for trading. Traders can take advantage of the price volatility in the cryptocurrency market.

These products collectively offer a wide spectrum of trading opportunities for LION's clients. Traders can choose from these asset classes based on their preferences, risk tolerance, and market outlook, allowing for diversified investment strategies within a single platform. Additionally, the competitive spreads and leverage options further enhance the attractiveness of these trading products on the LION platform.

Account Types

LION offers three types of trading accounts: standard account, professional account, and ECN account. All accounts offer attractive trading conditions and provide a wide range of base currencies to suit the preferences of different traders.

Traders can select the account type that aligns with their trading strategy and enjoy competitive spreads and high leverage for enhanced trading opportunities.

Account type	Minimum deposit	Spreads	Leverage	Trading products	Additional features
Standard	$100	From 0.0 pips	1:500	Forex, commodities, indices, and stocks	None
Professional	$500	From 0.0 pips	1:500	Forex, commodities, indices, and stocks	No trading commissions and higher leverage
ECN	$1,000	From 0.0 pips	1:500	Forex, commodities, indices, and stocks	Most competitive spreads and execution speeds

How to Open an Account？

To open an account with LION, follow these concrete steps:

1. Access the Registration Page: Look for the “Register” or “Open Account” button and click on it to initiate the account creation process.

2. Provide Personal Information:

1. Begin by entering your full name in the designated field.

2. Input your email address to create a unique login ID for your account.

3. Enter your mobile number, including the country code (e.g., +84).

3. Review and Accept Agreements: Ensure you understand the terms and conditions outlined in these agreements.

4. Verification and Activation: You may be required to verify your email address and mobile number to activate your account. Follow any verification instructions provided by LION to complete this process.

5. Begin Trading: Once your account is funded, you can start exploring the platform, accessing educational resources, and executing trades in the financial markets.

Leverage

LION offers its traders a maximum leverage of 1:500. Maximum leverage represents the ratio of the trader's own capital to the borrowed funds provided by the broker. In this case, for every $1 of the trader's own capital, they can control a trading position of up to $500.

High leverage, such as 1:500, can be advantageous for traders looking to magnify their trading positions and potentially increase their profits.

Trading product	Leverage
Forex	1:500
Commodities	1:500
Indices	1:500
Stocks	1:500

Spreads & Commissions

LION offers three account types: Standard, Professional, and ECN. The spreads and additional fees for each account type are as follows:

Standard Account: The Standard Account has spreads from 0.0 pips. For forex currency pairs, spreads are typically between 0.0 pips and 1.0 pips. For commodities, indices, and stocks, spreads are typically between 0.1 pips and 1.0 pips. The Standard Account does not charge any additional fees.

Professional Account: The Professional Account has spreads from 0.0 pips. For forex currency pairs, spreads are typically between 0.0 pips and 0.5 pips. For commodities, indices, and stocks, spreads are typically between 0.05 pips and 0.5 pips. The Professional Account does not charge any additional fees.

ECN Account: The ECN Account has spreads from 0.0 pips. For forex currency pairs, spreads are typically between 0.0 pips and 0.2 pips. For commodities, indices, and stocks, spreads are typically between 0.05 pips and 0.2 pips. The ECN Account charges a small commission, the amount of which depends on the trading product and the trading volume.

Account type	Spreads	Additional fees
Standard	From 0.0 pips	None
Professional	From 0.0 pips	None
ECN	From 0.0 pips	Small commission, depending on trading product and volume

Trading Platform

LION offers two trading platforms and tools to facilitate the intuitive execution of trading strategies on industry-leading platforms.

1. MetaTrader 4 Platform: LION provides access to the popular MetaTrader 4 platform, which offers a user-friendly interface and advanced features for seamless trading experiences. Traders can utilize its comprehensive charting tools, technical indicators, and Expert Advisors (EAs) to enhance their trading strategies.

2. MetaTrader 5 Platform: Additionally, LION offers the MetaTrader 5 platform, an advanced version of MT4 with enhanced functionalities. MT5 provides more timeframes, additional technical indicators, and support for trading a wider range of financial instruments.

Deposit & Withdrawal

LION makes it simple to move your money from place to place. They provide a range of account funding and account withdrawal options in multiple base currencies.

Payment method	Processing time (deposits)	Processing time (withdrawals)	Accepted currencies	Fees
Credit/debit cards	Instant	Up to 3 business days	USD, EUR, GBP, AUD, JPY	None
Bank transfers	Up to 3 business days	Up to 5 business days	USD, EUR, GBP, AUD, JPY	May vary depending on the bank
E-wallets	Instant	Up to 24 hours	USD, EUR, GBP, AUD, JPY	May vary depending on the e-wallet
Global ACH	Up to 3 business days	Up to 3 business days	USD, EUR, GBP, AUD, JPY	May vary depending on the bank

Customer Support

LION provides comprehensive customer support to assist traders with their inquiries, and concerns:

• Live Chat: LION offers a live chat feature, allowing traders to engage in real-time text-based conversations with customer support representatives. This instant communication method is often preferred for quick inquiries and problem resolution.

• Email: Traders can also contact LION's customer support via email. Email support provides a written record of interactions and is suitable for more detailed inquiries or issues that may require documentation.

• Phone: For those who prefer voice communication, LION offers phone support. Traders can call the provided phone number to speak directly with customer support representatives, facilitating immediate assistance and clarification.

Educational Resources

LION offers a range of educational resources to assist traders in making informed decisions:

1. Webinars: LION provides live webinars conducted by experienced traders and financial experts. These webinars cover a wide range of topics, including market analysis, trading strategies, risk management, and more. Webinars offer traders the opportunity to learn from professionals in real time and engage in interactive Q&A sessions.

2. Tutorials: LION offers comprehensive tutorials that cater to traders of all levels, from beginners to experienced traders. These tutorials typically cover essential trading concepts, platform navigation, order execution, and other fundamental aspects of trading. Tutorials serve as a valuable resource for those looking to build a solid foundation in trading.

3. Articles: The broker publishes articles on various financial and trading topics. These articles provide in-depth insights into market trends, analysis, and trading strategies. Traders can access articles to stay informed about current events and trends affecting the financial markets.

4. E-books: LION offers e-books that delve deeper into specific trading subjects. These e-books are typically more extensive than articles and provide a more comprehensive understanding of topics such as technical analysis, chart patterns, risk management, and more. E-books are valuable resources for traders looking for in-depth knowledge.

Conclusion

In conclusion, LION offers several notable advantages, including a low minimum deposit requirement, high maximum leverage, competitive spreads, a diverse range of tradable assets, and versatile trading platforms that cater to traders' preferences. However, there are also certain limitations, such as limited educational resources, account types, and payment methods. Additionally, the transparency regarding Islamic accounts and potential regulatory complexities could pose challenges for specific traders.

Overall, LION presents an opportunity for traders to access global financial markets with favorable conditions but may require traders to seek additional educational resources independently and carefully consider their account needs and payment preferences.

FAQs

Q: What is the minimum deposit requirement to start trading with LION？

A: To commence trading on the LION platform, you need a minimum deposit of $100. This accessibility allows traders with varying capital levels to participate in the financial markets.

Q: Can I access educational materials to enhance my trading knowledge with LION？

A: Yes, LION provides a range of educational resources, including webinars, tutorials, articles, and e-books. These resources are designed to help traders improve their understanding of the markets and trading strategies.

Q: Is there a demo account available on LION's platform？

A: Indeed, LION offers a demo account, allowing traders to practice and refine their trading strategies without risking real capital. It's a risk-free way to get accustomed to the platform and test trading approaches.

Q: How can I contact LION's customer support if I have questions or need assistance？

A: LION provides customer support through various channels, including live chat, email, and phone. Traders can access support during trading hours to address inquiries or seek assistance with their trading activities.

Q: Does LION offer a copy trading tool for traders interested in automated trading strategies？

A: Specific details about a copy trading tool on LION's platform are not specified in the provided information. It's recommended to check with LION directly or visit their website for the most up-to-date information on available trading tools.

Q: Are there any bonuses or promotional offers available to traders on LION？

A: Information regarding bonuses or promotional offers is not provided in the available data. Traders interested in potential bonuses should refer to LION's official website or contact their customer support for relevant details.

Risk Warning

Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

Fortrade Review Summary in 10 Points
Founded	2013
Registered Country/Region	Belarus
Regulation	ASIC, FCA, CYSEC, IIROC, NBRB
Market Instruments	Currencies, Stocks, Indices, Precious Metals, Energy Products, Agriculture Products, US Treasury Bonds
Demo Account	Available
Leverage	1:200
EUR/USD Spread	2 pips
Trading Platforms	MT4
Minimum deposit	$100 (with a suggestion of $500 or currency equivalent)
Customer Support	phone, email

What is Fortrade？

Fortrade is an online forex market trading service provider founded in 2013 and currently holds a full license from the Australian Securities and Investments Commission (ASIC), a full license from the UK Financial Conduct Authority (FCA), a full license from the Cyprus Securities and Exchange Commission (CYSEC), a full license from the Investment Industry Regulatory Organization of Canada (IIROC), and a retail forex license from the National Bank of Belarus (NBRB).

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Fortrade is a regulated broker that offers a wide range of assets for trading, including forex, indices, commodities, and securities. The broker provides a free demo account with no time restrictions, making it an excellent tool for beginners to practice trading. Fortrade has a powerful MT4 trading platform available on desktop, web, and mobile devices, providing traders with flexibility and convenience.

In terms of fees, Fortrade charges no trading commissions and offers competitive spreads, although overnight rollover fees and inactivity fees may apply. Customer support is available via email and telephone, but the lack of live chat support may be a drawback for some traders. Overall, Fortrade is a solid choice for traders looking for a regulated broker with a user-friendly trading platform and a variety of underlying assets for trading.

Pros	Cons
• Regulated by multiple authorities	• Negative reviews regarding withdrawals
• Wide range of assets for trading	• Limited live account types
• Free demo account with no time restrictions	• Inactivity fee after 6 months
• Powerful MT4 trading platform with mobile, web, and desktop options	• Limited educational resources
• No trading commissions	• Limited payment options

Fortrade Alternative Brokers

There are many alternative brokers to Fortrade depending on the specific needs and preferences of the trader. Some popular options include:

• Hugo's Way - A relatively new broker with competitive spreads, high leverage, and a limited range of trading instruments.

• ICM Capital - A well-regulated broker offering a diverse range of trading instruments, advanced trading platforms, and excellent customer support.

• IFC Markets - An innovative broker with a unique approach to trading, offering a wide range of financial instruments, low minimum deposits, and advanced trading tools.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Fortrade Safe or Scam？

Regulation by multiple reputable authorities such as ASIC, FCA, CYSEC, IIROC, and NBRB can provide some level of assurance of safety and reliability for traders. However, negative reviews of Fortrade regarding withdrawal issues are concerning, and potential traders should conduct thorough research and exercise caution before depositing funds with this broker. It is always recommended to carefully read the terms and conditions, including withdrawal policies, before trading with any broker.

Market Instruments

Fortrade provides investors with a range selection of tradable financial instruments, including more than 300 foreign currency, stock index, securities, oil, and precious metals CFD products. This wide range of financial instruments allows traders to have more options to diversify their portfolios and potentially increase their profits.

Accounts

Demo account: A free demo account is available to Fortrade customers. Users can practice their trading strategy with a €10,000 virtual investment, available on either the Fortrader or MetaTrader 4 platforms. Fortrade's demo account seems to be a useful tool for traders to practice their strategies without any pressure, and the lack of time restrictions makes it more convenient for beginners.

Live account: Fortrade only offers a single live account type, where the specific trading conditions vary depending on assets and trading size. The minimum deposit is reasonable at $100, with a suggestion of $500 or currency equivalent.

Leverage

Leverage is up to 1:200 for forex products, 1:20, 1:25, 1:50 for stock indices, 1:10 for EU securities, 1:50 for CFDs on agricultural commodities, 1:100 for gold and silver, 1:33 for corn, cotton, and soybeans. It is important to keep in mind that leverage can magnify profits, but it can also lead to greater losses, so traders should use leverage wisely and carefully manage their risk.

Spreads & Commissions

It seems that Fortrade charges mark-ups on spreads instead of trading commissions, which could be beneficial for traders who want to avoid commission fees. However, it is important to note that the mark-up on spreads may fluctuate, and traders should take this into consideration when planning their trades.

The average spread for EURUSD is 2 pips, and the average spread for USDGBP is 3 pips. Indices spread: Canada 60 average spread is 1 pip, US 2000 average spread is 0.6, US 500 average spread is 0.6. The gold average spread is $0.45, and the silver average spread is $0.04.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker	EUR/USD Spread	Commission
Fortrade	2 pips	None
Hugo's Way	0.0 pips	$5 per lot
ICM Capital	1.6 pips	None
IFC Markets	0.4 pips	None

Note that the commission for Hugo's Way is per lot, and a lot size varies depending on the account type and asset being traded. Additionally, spreads are variable and subject to change, especially during times of high market volatility.

Trading Platforms

Fortrade offers its users a market-leading and powerful MT4 trading platform, including the mobile MT4, web MT4, and desktop MT4. The platform is renowned for its advanced charting tools, technical analysis indicators, and automated trading capabilities, making it suitable for traders of all levels.

The desktop version of MT4 provides traders with access to real-time pricing and trading, advanced charting and analysis tools, and the ability to place orders quickly and easily. The web version of MT4 is accessible from any web browser and offers traders the flexibility to trade from any location, while the mobile version of MT4 enables traders to manage their accounts and access the markets from their smartphones and tablets.

See the trading platform comparison table below:

Broker	Trading Platforms
Fortrade	MT4, WebTrader
Hugo's Way	MT4, MT5
ICM Capital	MT4, cTrader
IFC Markets	MT4, MT5, NetTradeX

Deposits & Withdrawals

Deposits and withdrawals can be made via credit/debit cards, bank wire transfers, and e-wallets such as Skrill and Neteller. The recommended initial deposit requirement is $/€/£500, however, it is possible to deposit as little as $100 or equivalent currency to get started.

Fortrade minimum deposit vs other brokers

	Fortrade	Most other
Minimum Deposit	$100	$100

The broker does not charge any deposit fees, while any bank withdrawal fees incurred by Fortrade are passed on to the customer, which is usually around $40.

Processing times will vary by method. Deposits via bank wire transfers can take up to 7 working days for funds to clear. E-wallets offer faster clearance, often within 1 day. All withdrawal requests are processed by Fortrade within 2 business days of being submitted. However, fund clearance can take up to 5 business days for bank transfers and up to 15 business days for credit/debit cards.

Fees

Apart from spreads, commissions, deposit and withdrawal fees that we have mentioned above, Fortrade also charges an overnight rollover fee and inactivity fee of $/€/£10 on accounts left dormant for 6 months.

Overnight rollover fees are a common practice in the forex and CFD industry, as positions left open overnight incur a cost for the broker. As for the inactivity fee, it is also a common practice among brokers to charge a fee on dormant accounts to cover administrative and maintenance costs.

See the fee comparison table below:

Broker	Deposit Fee	Withdrawal Fee	Inactivity Fee
Fortrade	None	$40	$/€/£10 after 6 months of inactivity
Hugo's Way	None	Free withdrawal up to $150	None
ICM Capital	None	None	None
IFC Markets	varies by payment method	None	None

Please note that the fees listed above are subject to change at the discretion of each broker. It is recommended to check with the broker's official website or customer support for the most up-to-date fee information.

Customer Service

Clients with any inquiries or trading-related issues can get in touch with Fortrade through the email and telephone. Here are some contact details:

• Telephone: +375-17-2240625

• Email: support.by@fortrade.by

• FAQ section is also available.

Pros	Cons
• Email and phone support	• No live chat support
• Comprehensive FAQ section available	• No 24/7 customer support

Note: These pros and cons are subjective and may vary depending on the individual's experience with Fortrade's customer service.

User Exposure on WikiFX

On our website, you can see that some users have reported unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

All things considered, Fortrade is a reputable broker with multiple regulatory licenses, offering a wide range of assets for trading and a powerful MT4 platform. The broker charges no commissions and has competitive spreads, making it an attractive option for traders. However, there have been some negative user reviews concerning withdrawal issues and the overnight rollover fee, which may cause concern for some traders. Additionally, the lack of alternative trading platforms and the inactivity fee may be a drawback for some traders who prefer more flexibility. Overall, Fortrade is a good option for traders looking for a reliable and regulated broker with a comprehensive trading platform and competitive trading conditions.

Frequently Asked Questions (FAQs)

Q 1:	Is Fortrade legitmate？
A 1:	Yes. Fortrade is legimate. It is regulated by multiple regulatory authorities including ASIC, FCA, CYSEC, IIROC, NBRB.

Q 2:	At Fortrade, are there any regional restrictions for traders？
A 2:	Yes. It does not accept clients from the USA.

Q 3:	Does Fortrade offer demo accounts？
A 3:	Yes.

Q 4:	How does Fortrade make money？
A 4:	Fortrade makes money from spreads, commissions, and swap rates on leveraged overnight positions.

Q 5:	What is the maximum leverage offered by Fortrade？
A 5:	Fortrade offers leverage of of up to 1:200.

Q 6:	Does Fortrade offer the industry-standard MT4 & MT5？
A 6:	Yes. Fortrade supports MT4 Desktop, WebTrader and Mobile APP.

Q 7:	What is the minimum deposit for Fortrade？
A 7:	The minimum initial deposit to open an account is $100 (with a suggestion of $500 or currency equivalent).

Q 8:	Is Fortrade a good broker for beginners？
A 8:	Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money.