Seems like I'm also a victim of lionfund and knight capital brokerage. My funds were ok making a profit of 2k since February. However, after hearing some bad reviews about Lion fund, I emailed knightcapitalmarket.com requiring them to cease lionfund from managing my funds. They immediately mentioned it's no their call and wanted me to contact them which I complied. After writing a email to them, I noticed my trades went erratic. Normal trades were traded at a lot size 0.3 to 0 5 but they were constantly traded at 3.5 on wrong trades and as expected my account got blown. All these happened within the last 3 days incuding weekend. When I called and emailed, this was the email that I got with jargon and sophisticated email from the **** of a manager called Alex.l, so to say that my account is depleted. The email is as follows.
I hope you've been well since our last correspondence. That being said, and when considering the current issue at hand, it will be necessary to recognize, acknowledge, and understand the fact that we are participating within the most risk-abundant, highly volatilefinancial market in existence during a time in which we are currently enduring a global economicDepression and underlying climate of unprecedented nature on a worldwide scale since the Great Depression.
As such, we have recently experienced inevitably difficult market conditions, based on unprecedented changes for the first time since 2008. This hastranspired on a magnified scale, which has catalyzed unfavorable results uncharacteristic of the achievements the Lion Fund Trade Managers contracted to oversee the program, as well as all global asset managers, have experienced within a customary economic climate during ideal market conditions. Within such an atypical world environment, unorthodox losses oftentimes result in ultra-aggressive, overly speculative novelty programs such as Lion Fund.
This unfortunate development has combined with your account having experienced severely inopportune market-entry timing in proximity to the initiation of this recent unfavorable markFet state.
On that note, I find it very important I address your important concern in comprehensive fashion. The Lion Fund Manager was utilizing a verysophisticated, methodical employment of within client accounts so as to effectively mitigate what otherwise would have been an instantly catastrophic, adverse price movement across all major currency pairs.
Of course, it is a physical impossibility to successfully accomplish negative trade eradication without the necessary periodic release of said positions in strategic fashion at prospective turning points in price action so as to allow corrective price moves to neutralize open draw down while being offset by realized profits generated through theaforementioned orders. Whenpositions are released, it is necessary to allow price movement to "breath" and illustrate directional bias.
Furthermore, pending orders must be strategically placed at selective points far enough in proximity to important support or resistance levels to ensure any re-entry into the is not made in vain. Therefore, equity will bleed in nominal, successive amounts until the proper, successful corrective point is reached. Under typical market conditions, the average trend-based price movement which would necessitate the employment lasts but 1-3 days and requires no greater than 1-3 releases prior to successfully identifying the correct turning point necessary to remove clients from trades intact.
We continue to face a global economic climate of unparalleled proportions since the Great Depression and have chosen to participate within the most volatile, risk prevalent market out of all the financials. As such, and when combined with notoriously thin, unfavorable summer market conditions and a unique disconnect of customary inter market behavioral correlation losses uncharacteristic of standard performance within ideal conditions do occur.
Although it will be no consolation to your frustration, it is of paramount importance you understand that we have endured, as a world society and global investors, a first-time global market climate and world economic condition absolutely unmatched in decades. This marks a unique juncture in this Manager’s 3 year record flawless aggressive trading.
Based upon our longstanding, personalized communication with one another, I'm confident you will recognize the fact that I am sincerely regretful of having had clients, including yourself, eliminated from market participation. Your ongoing recognition and understanding of current conditions as well as the unwavering state of my dedication with the sincere best interest of clients at heart is both valued and appreciated.
For these reasons, I must reiterate that I am genuinely apologetic in having to inform you that the entirety of your risk capital was depleted by the Lion Fund Manager.
Should you have any additionalquestions or concerns regarding these very unfortunate market events, please be sure to follow up with me. I will remain readily available and sincerely dedicated to assuring your inquiries are immediately and thoroughly answered.
Wonder what should I do next?Anything I should do. Any advice?
Please, please spread the words to the entire forex and financial world that this is a definate scam.
I was scammed by this Lion Fund and Knight Capital Ltd recently.
I went through the same experience as Simon Selvam.
I funded my account in March 2016 with USD3,000 and for the last 2 and half months was gaining good profits.
I noticed some irregularities in the trades since April and I questioned them but was given some general replies.
I then started to track and screen shot every trades they make and to my supprise, they can reversed a short losing trades to become a long profit trade overnight and visa-versa. The trade was a "Sell" and it was losing but the next day it become a "Buy" and was making profits.
I questioned the so called same "Alex" and again was given some very general reply as though he do not know what I was referring to. I keep tracking the trades but kept silent because my account was making good profits, so I did not bother.
Last Week, my account was making hugh profits like 20% plus in several trades and I was hoping that they will close the trades and cash in profits but to my supprise, they just left the trades to turn into hugh losses.
I have to questioned this "Alex" again this time why as a professional fund, they can allow such bad trades to happened.
Again, I got some very general reply from this Alex.
The next day after that, I was shocked when I opened my MT4 account and saw that they put in 3 trades randomly with hugh lot sizes and blown my entire account of US$5,350.97 to become minus USD60.12.
When I look at the 3 trades, it was executed within a seconds in between and the losses was exactly the same amount of -USD1,377.07. It was to the exact cents. How can that be possible when the trades was different pairs and was opened at different time and closed at different time.
I also calculated the spread difference and lot sizes and the losses didn't tally at all for all the 3 trades.
I wrote to Alex to complain about this and why they do this irresposibly trades to wiped out my account and his answer was exactly the same in every words as posted by Simon above.
When I threaten to exposed them, they in turn threaten to report me to my local authorities about my threats of harm to them.
This is definitely a scam at it's higest level and the world needs to know and those culprits need to be dealt with before another victim fall prey to their scheme.
I have had the same experience as you Simon selvam. When I contacted Lion Fund by phone I was able to speak to a real person,a lady. However she could not help me in any way and she said to give her my phone number and email address and she would get one of the traders to contact me. After 2 days no contact. I email Alex ( I don't think for one minute that's his real name) and this morning I received an email exactly the same as Simon.
I have also contacted the broker Knight Capital which they replied that they will look into it. I think that Knight Capital Markets are colluding with Lion Fund to scam investors of their funds. What I can't understand is how can such trades be made on MT4 without some sort of manipulation on both parties ??
If somebody is still trading through them I would suggest try and withdraw your funds ASAP if you can before they disappear !!!