I started dealing with Lionexo a few months ago, and was assigned a broker who promised me guaranteed increase in investment and requested that I deposit more and more money into my online account. At first, I was only willing to invest $7,000 USD but he insisted that I invest more. I insisted that we communicate via email, which he complied to. He send me a written request for more money and said I should maximize my investment by using as much money from my credit card as possible. He used the expression, “it is like taking money from one pocket and placing it in the other”, with the assurance that the money can be withdrawn as easily as it is deposited. Then he sent me a deposit bonus agreement stating that under this agreement, the money invested will be doubled and funds will be locked in the account until 30 times the amount invested has been generated. I refused to sign the document, but then he told me in writing that this document is a mere formality and that it is not applicable to my case. I eventually signed the document, against my better judgement. The money was invested with a good return. I then requested to withdraw $5,000 to partly repay the money taken from my credit cards, which by this time amounts to $20,000. My broker then reminded me about the deposit bonus agreement and stated that I need to fulfill the agreement before I can withdraw funds, to which I responded with his email stating that I should not be concerned about signing the document. Since then, most trades done with this broker’s professional guidance has been lost. Depleting my account from just over $59,000 to $1,800. The broker profusely apologize for my loss and I am stuck to pay back the credit cards by other means.

Yes, new traders are being taken advantage of and they will lie to you to get your money.