LionFund - Anyone heard of them?

[Simon selvam]

Their office address on their website don't look real. There is no way to get back the money. Learn from this episode and hope those who are reading this to avoid them. Let Karma look for them.

Yeah reality bites. What about myfxbook...aren't they suppose to be the police of forex because I was in the understanding that any brokers under their list was legitimate and thoroughly vetted.

 

[puahkh]

knight capital market are in control of their MT4 platform and I guess they can cook up an account for lion fund. The myfxbook taps off the data from knight capital market. The data is fake, so myfxbook take fake data and presents to viewers. Their myfxbook is still alive and profitable, http://www.myfxbook.com/members/FF2016/lf2016/1573306/p3BC5aduCIN82KMR2LZY , this myfxbook will be used by lion fund (or any other names they may use in future ) to scam more people.

 

[Sureerat]

I started an account with Lion Fund / Knight Two months ago and up until today the results were very impressive . However they have taken three trades yesterday totaling 30 times more per position point than ever before resulting in a total wipe out . I can get no explanation from either Knight Capital or the Lion Fund as to this action which seemed to be a deliberate act to destroy my account . Also all the trades prior to this show placed as a MAM trade ie Multi Account Management . However these last three trades show as dealer placed , so taken in isolation and not as part of the fund, which is what the account was linked to . I have included the full statement from start to these last three trades , just look at the size in comparison, something is very untoward here . Any comments/ Thoughts / Advice most welcome.
( Trying to upload statement but having difficulty )

 

[Simon selvam]

Everything you mention is the same as my dilemma. Only last 3 days, the sudden heavy and erratic trading took place and wiped out my account. Deliberate act. Also all these happened, only when on last Wednesday, after I asked for lionfund to cease managing my funds.
Do you think myfxbook can be notified and hopefully they blacklist them?

 

[Simon selvam]

That depends on many things. How long has the account been running? What broker is being used? Has anyone been complaining about getting trades which do not match MyFxBook? How much of the MyFxBook info is marked as private is a BIG one. If you can't see closed trades, how can you be sure you are getting the same trades that MyFxBook is seeing?

Have you checked FPA Performance Testing? Only pending and open trades are hidden. Everything else, including floating P/L is displayed. If you did hook up with a company there, you would instantly be able to tell if the trades they gave you matched the PT results or not (within reasonable bounds for requotes and slippage between brokers, of course). If such a thing did happen, the FPA would expect a quick and complete explanation from the owner of the test.

Hi there, Im Simon. If knightcapital is indeed fake and scammer....then why did myfxbook approve their validity as legitimate brokers and they do fall in their approved set of brokers. Aren't myfxbook supposed to be trustworthiness fx police?

 

[Sureerat]

Everything you mention is the same as my dilemma. Only last 3 days, the sudden heavy and erratic trading took place and wiped out my account. Deliberate act. Also all these happened, only when on last Wednesday, after I asked for lionfund to cease managing my funds.
Do you think myfxbook can be notified and hopefully they blacklist them?

I wonder how many other people this has happened to this week , Have you had any response from Lion Fund , also were the erratic trades taken as MAM trades or by an individual dealer if you hover your mouse over the trades in account history it will tell you MAM or Dealer placed , I would think everything up to a few days ago was MAM and then individual dealer so not trading the account as the fund . I think myfxbook should be notified as Lion are showing on there this month to date a 13% profit. But looking at the ridiculous price per point taken it does seem a deliberate malicious act

 

[Sureerat]

I asked Lion Fund for an explanation , and received a reply that , they experienced the most volatile trading conditions since the Great Depression and the market manager had a great three year track record , All total fudging . They have not answered my fundamental questions as to why they increased position size by over 30 times on the account for one day , and why was this trade not a fund trade MAM ( Multi Account Management ) as all others over the last two months have been and instead one placed by their dealer direct , not in line with the fund . At the size the dealer placed the trade it could only travel 25 points against entry to cause a margin call and account wipe out . The day of this trade there was no increased volatility or adverse market conditions ,It was a total deliberate act to provide my account as "Fodder " for the broker. the Lion Website headlines "Disciplined Risk Management ". This was not obviously the case, A question is there a regulatory body that I can refer this to , as they have deliberately mishandled client funds and did not exercise any duty of care . This practice must verge on a deliberate fraudulent act to deprive the client of their funds .

 

[Pharaoh]

Start off by opening Scam Alerts threads for LionFund.

 

[Bhaskar72]

complaint.info@financial-ombudsman.org.uk Pls compliant to this mail ID, who are cheated by the Knight & Lionfund on this month 13th. They cheated all the clients, who are invested them

 

[Momo80]

Hi everyone,

Im Simon. Is there any help I can look for if im scammed by a fund (lionfund) and brokerage (knight capital)

Thanks. Please assist.

Can I have a face to face meeting with you? since you have a office in UK?