Lions Trade has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". Lions Trade found at http://trade-lion.net and https://trade-lion.io is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After since I opened my account last year with Lions Trade I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Regular platform improvements|Transparent fees
Cons: Limited ETF selection|Wait times can be long during peak hours
I want to warn everyone about Lions Trade. They have been flagged by Ontario Securities Commission as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials
Lions Trade seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Transparent fees|Low minimum deposit|Easy withdrawals
Cons: Search feature is basic|Minor UI glitches occasionally
I closed a profitable position at Lions Trade and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Good analytical tools|Multiple order types
Cons: Charting tools need more indicators
Several red flags with Lions Trade: (1) They promise unrealistically high returns, (2) They're not registered with Ontario Securities Commission, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly