Welcome to the Littlefish FX review.
Littlefish FX (LFX) is a prop trading firm where retail traders are made to believe that they can manage £50,000 of the firm’s capital.
Littlefish FX also provides trading education content, trading systems and analytical tools respectively.
To gain access to the firm’s trading indicators, Littlefish FX charges £45 monthly fee.
This fee will unlock a package of indicators namely VWAP indicator, Pin Bar indicator, Psych Indicator, VWAP colored bars and levels.
Their funded account program also comes with a number of conditions which traders must meet before they qualify.
Acceptance into the program does not guarantee a position into the prop trading firm.
According to Littlefish FX’s promotion materials, the firm was started with the aim of helping retail traders achieve consistency in the currency market.
Between June 2012 and September 2015, the firm’s CEO was someone called Sam Barry.
According to his LinkedIn profile, he no longer works at Little Fish FX. Sam Barry is the current CEO of Savernake Capital.
Therefore, the current CEO of Littlefish FX is unknown.
Because money is involved when signing up for the Littlefish FX funded account program, it’s imperative that you read this review to see whether it’s viable or not.
Note: With a small investment, you can leverage on the efficiency of these trading resources to become a successful Forex trader.
Littlefish FX review
Overall, we feel that the prop trading firm’s website has a professional design.
It feels as if they’re an established prop trading firm with some sort of reputation.
However, we also warn traders against judging a book by its cover or taking Littlefish FX at face value.
They tell us that successful prop trading applicants will be given a chance to work closely with the firm’s professional traders on a daily basis.
While all applicants are required to undergo vetting during the application process, the final decision is at the sole discretion of the company.
This means that unsuccessful applicants may never get to know the reason why their application was turned down.
Littlefish FX promises to provide traders with the following benefits/features:
- One on one mentoring session
- Market map updates
- Forex trading course
- Live analysis webinars
- Institutional insights
- Tech team support
- Flexible pricing model
They believe that lack of sufficient capital is the trader’s main impediment to successful trading.
They believe that instead of starting out with £2,000-£5,000, trying to build the account size, it is better to start with a funded account because it gives traders the benefit of “zero financial risk”.
We don’t think this statement is any sensible because for anyone to qualify for funding through the Littlefish FX website, there are upfront charges.
According to us, any money spent with no guaranteed results is considered a risk.
It does not matter whether this money will be used for trading or subscription. It is still your hard-earned money which you’ll use to apply for Littlefish FX’s funded account.
Littlefish FX revieew: Profit share
Littlefish FX wants to split profits with its successful applicants in the ratio of 40 is to 50.
This means that successful retail traders will earn 40% of the profits generated in their prop trading account.
On the other hand, Littlefish FX will take 60%. Based on performance and consistency, they claim they can adjust this ratio so you will earn 50% instead of 40%.
What you should know before applying
They’ve put retail traders into 3 categories. These include:
Each trader has a set of unique conditions which they are expected to meet in order to qualify for “funding”.
Mentorship duration for beginning traders is somewhere between 9 to 12 months.
Intermediate traders receive mentorship for 6 to 9 months.
Advanced traders mentorship program’s duration is between 3 to 6 months.
Now, you must know that Littlefish FX is charging upfront fees during the period that you’ll remain subscribed to their mentorship program.
You should take note of the fact that one must complete the duration as it appears in the fine print.
The lengthier the duration, the more you’ll pay Littlefish FX to keep “mentoring” you.
In the end, there’s no guarantee that you’ll qualify for funding. If that’s the case, the question of refunds arise.
Therefore, if you fail, does LittlefishFX return your subscription money? The answer is No!
It’s also important to note that novice traders are expected to part with £5,000 upfront or pay in installments over 12 month duration.
Intermediate traders are to pay £3,500 upfront or distribute it over 9 months installments.
On the other hand, Advanced traders are to pay £2,500K or distribute over 6 months installments.
What you pay here is non-refundable. With that in mind, you should realize that Littlefish FX is actually charging money in order to access their funded account program.
This is the catch and we bet 99% of traders will lose money and fail to qualify at the end of the day.
This is why we always insist that prop trading firms claiming to fund traders are nothing but a scam.
LittlefishFX Review: the fine print
Traders are expected to meet a target of 4.5% per quarter. Failure to meet this performance benchmark will make Littlefish FX revise your privileges.
All of this shows that Littlefish FX is gaining an unfair advantage over its traders.
Once in, you’re the one to lose.
Littlefish FX review: The fake testimonials
Their website has a couple of “reviews” where they purport that this firm has a lot of traders who started with their prop trading program and are now successful.
You should know that these “reviews” cannot be verified as coming from real traders.
If you believe the “reviews”, you’ll be the dumbest person on earth.
As we close this Littlefish FX review, you should ask yourself; “How effective and reliable are their trading indicators?”
Secondly, how sure are you that at the end of the “mentorship period” (meaning you spent a significant amount of money to go through “mentorship”), you will get funded?
The bottom line is that this is the worst form of gambling on earth. It is worse than a beginner entering the Forex market place for the first time.
It is a sure lose in a casino game. We don’t know of any successful traders who managed to go through this program and are trading with Littlefish FX’s capital.
Thanks for reading our Littlefish FX review. We look forward to your feedback.