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.

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:

• 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.

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.

1. 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).

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

3. 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.

4. 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.

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.

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.

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

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

Answer: 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.

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

Answer: 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.

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

Answer: 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.

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

Answer: 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.

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

Answer: 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.

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

Answer: 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.

Overview of USGFX

Union Standard Group (USG) is an Australian investment firm that provides access to trade forex and CFDs under the brand name ‘USGFX’. The brand began operations in 2005 and is headquartered in Sydney, Australia with subsidiaries in London and Asia. This broker offers a wide range of financial instruments, including forex, indices, commodities, and cryptocurrencies, which can be traded on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

USGFX prides itself on its commitment to customer service, with a 24/5 customer support team available to assist traders with their queries. The broker also offers educational resources such as webinars, ebooks, and video tutorials, as well as a free demo account for traders to practice their strategies. In addition, USGFX offers a range of account types to cater to the needs of different traders, including Standard, Pro, and VIP accounts.

Is USGFX legit or a scam？

USGFX has received mixed reviews and there have been reports of some traders experiencing issues with withdrawals and customer support. USGFX had their ASIC and FSC licenses suspended and VFSC license revoked in 2020 due to concerns over their compliance with regulatory requirements, particularly in regards to client money handling and risk management procedures. The Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC) of the British Virgin Islands suspended USGFX's licenses for six months, while the Vanuatu Financial Services Commission (VFSC) permanently revoked their licenses.

Regulated brokers are required to adhere to strict rules and regulations regarding client funds, transparency, and risk management. In the event of any dispute or issue, traders have recourse through the regulatory body. With an unregulated broker, there is no such protection, and traders may be at a higher risk of fraud or other unethical practices

Pros & Cons

Here let's take a closer look at the good and bad things about USGFX. On the plus side, they offer a wide range of financial instruments to trade, including Forex, commodities, and indices. Their trading platforms are also pretty user-friendly and easy to navigate. On the downside, their regulatory status is questionable, which could be a red flag for some traders. Plus, they don't accept clients from certain countries, so you'll want to make sure you're eligible before signing up.

Market Instruments

USGFX offers a range of financial instruments for trading, including forex currency pairs, commodities, indices, and shares of popular companies. Some examples of the instruments offered by USGFX are:

• Forex currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD

• Precious metals like gold, silver, and platinum

• Energy commodities such as crude oil and natural gas

• Indices such as S&P 500, NASDAQ, FTSE 100, and Nikkei 225

• Shares of popular companies like Apple, Amazon, Facebook, and Microsoft

Account Types

USGFX offers four different types of trading accounts to cater to the needs of different traders:

• MINI Account: This is the entry-level account with a minimum deposit requirement of $100. Traders with this account type can trade a wide range of instruments with low trading costs, access to educational resources, and 24/5 customer support. However, this account type comes with limited features, such as lower leverage and limited trading tools.

• Standard Account: The standard account requires a minimum deposit of $10,000 and comes with additional features such as higher leverage, access to more trading tools, and a dedicated account manager. Traders with this account type can also enjoy free VPS hosting and regular market analysis.

• VIP Account: This account type is designed for high-volume traders with a minimum deposit requirement of $50,000. In addition to the features of the standard account, VIP account holders can enjoy custom trading strategies, priority customer support, and exclusive market insights.

• Pro-ECN Account: The Pro-ECN account is designed for experienced traders and institutions with a minimum deposit requirement of $50,000. This account type offers ECN trading with no dealing desk, ultra-low spreads, and high execution speeds. Traders with this account type can also access premium research tools and institutional-grade liquidity.

How to open an account with USGFX？

Opening an account with USGFX is pretty straightforward and you need to follow these steps:

1. First, you need to go to their website and click on the “Open Account” button.

1. Then, you'll need to fill in some personal details, like your name, email address, and phone number. After that, you'll need to choose the type of account you want to open and provide some additional information, like your date of birth and proof of identity.

1. Once you've completed the registration process, you'll be able to deposit funds into your account and start trading. Just keep in mind that depending on the type of account you've chosen, there may be different deposit and withdrawal requirements.

Leverage

USGFX offers flexible leverage options ranging from 1:1 to 500:1, depending on the account type and instrument traded. It is important for traders to understand the risks involved with using high leverage and to use it judiciously. Additionally, some instruments may have lower leverage options due to market conditions or regulatory requirements. Traders should check with the broker regarding the available leverage options for specific instruments.

Spreads and Commissions (Trading Fees)

USGFX offers variable spreads, which means that the spread can widen or narrow depending on market conditions. The average spread for major currency pairs such as EUR/USD, USD/JPY, and GBP/USD is around 2-3 pips. Commissions are not charged for forex trading, but there are swap fees for holding positions overnight.

For trading other instruments like commodities, indices, and cryptocurrencies, USGFX charges a fixed spread. The size of the spread varies depending on the instrument traded. For example, the spread for gold is typically around $0.50 per ounce, while the spread for Bitcoin is around $60 per lot.

Non Trading Fees

Apart from spreads and commissions, USGFX also charges several non-trading fees. These fees can add up and affect your overall trading experience, so it's important to be aware of them.

One such fee is the inactivity fee. This fee is charged to your account if you haven't made any trades or withdrawals for a specified period of time. The fee amount varies depending on the type of account you have and how long you've been inactive.

Another fee to be aware of is the withdrawal fee. While USGFX doesn't charge a deposit fee, they do charge a fee for each withdrawal you make from your account. This fee is a fixed amount and varies depending on the payment method you choose for your withdrawal.

USGFX also charges a swap fee, which is a fee charged for holding positions overnight. This fee can be a credit or debit depending on the direction of your position and the interest rates of the currencies you are trading.

Lastly, USGFX may charge a conversion fee if you deposit or withdraw funds in a currency that is different from the base currency of your trading account. The conversion fee is a percentage of the amount being converted and can add up if you frequently deposit or withdraw in different currencies.

Trading Platforms

USGFX offers its clients the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are highly popular among traders worldwide. These platforms are equipped with a range of trading tools, including charting tools, technical analysis indicators, and trading robots, making them suitable for traders of all levels.

MT4 is a well-established platform that has been around for over 15 years. It is known for its user-friendly interface, ease of use, and a wide range of trading tools. MT5, on the other hand, is the latest version of the platform, which was introduced in 2010. It offers several advanced features, such as more technical analysis tools, a multi-threaded strategy tester, and an economic calendar.

One of the significant advantages of MT4 and MT5 is that they are compatible with a range of devices, including desktop computers, laptops, smartphones, and tablets. This allows traders to access their accounts and trade from anywhere at any time.

Here's how USGFX's trading platform stacks up against other brokers' platforms:

Deposits and Withdrawals

Minimum Deposit

USGFX has a minimum deposit requirement of $100, which is pretty reasonable compared to some other brokers out there. It means that even if you're just starting out with trading and don't have a lot of money to invest, you can still give it a go with USGFX. Of course, you won't be able to make huge trades for just $100, but it's a good starting point to get your feet wet and learn the ropes of trading.

USGFX offers a variety of deposit and withdrawal options to its clients. Deposits can be made through bank wire transfer, credit/debit cards, and various e-wallets such as Skrill, Neteller, and FasaPay. The processing time and fees for each method may vary.

Withdrawals can also be made through bank wire transfer, credit/debit cards, and e-wallets. However, it is important to note that there may be fees associated with withdrawals, depending on the method chosen. Withdrawal requests are typically processed within 1-2 business days.

Also, USGFX may apply internal fees to withdrawals that are not actively traded. For example, if you make a deposit and then withdraw it without trading, USGFX may apply a fee of up to 3% of the deposit amount.

Customer Support

USGFX offers customer support through various channels, including email, phone, and live chat. The broker has dedicated support teams in different regions to cater to clients' needs. Customer support is available 24/5, and clients can contact the broker through the website's contact form or through the provided phone numbers and email addresses.

USGFX also has an extensive FAQ section on its website that covers different aspects of trading, including account management, deposit and withdrawal, and trading platforms.

Educational Resources

USGFX offers a variety of educational resources to help traders improve their knowledge and skills in trading. The broker provides free webinars, video tutorials, e-books, and other resources to help traders learn about various topics such as technical analysis, risk management, trading strategies, and more. Additionally, USGFX offers a demo account, which traders can use to practice trading in a risk-free environment.

The educational resources provided by USGFX can be accessed through the broker's website or the trading platform. The resources are available in multiple languages, making them accessible to traders from different countries. Traders can also interact with the broker's experts and other traders through online forums and social media channels.

Conclusion

USGFX is a forex broker that offers trading services in a variety of markets, including forex, commodities, and cryptocurrencies. The broker offers several account types with varying minimum deposit requirements, allowing traders to choose an account that suits their trading needs. However, the broker's regulation has been a point of concern, with its licenses revoked by various regulatory authorities. This, coupled with negative reviews from clients and the low ranking score, raises questions about the broker's trustworthiness.

FAQs

• Q: Is USGFX a regulated broker？

A: USGFX was previously regulated by ASIC, FSC, and VFSC, but their licenses have been revoked due to regulatory violations.

• Q: What trading platforms does USGFX offer？

A: USGFX offers the popular MetaTrader 4 (MT4) platform for desktop, web, and mobile devices.

• Q: What is the minimum deposit requirement to open an account with USGFX？

A: USGFX offers a MINI account with a minimum deposit requirement of $100.

• Q: What is the maximum leverage offered by USGFX？

A: USGFX offers a maximum leverage of up to 500:1 for forex trading.

• Q: What are the available payment methods for deposits and withdrawals with USGFX？

A: USGFX offers various payment methods, including bank transfer, credit/debit card, and electronic payment systems such as Neteller and Skrill.

• Q: Does USGFX offer educational resources for traders？

A: Yes, USGFX provides a range of educational resources for traders, including webinars, e-books, and trading tutorials.