LittleFish FX is a prop trading firm that promises a progressive (from 40%) share of all trading profits generated on your prop trading account. The idea behind LittleFish FX is that you first invest in your personal trading education by using their trading resources and tools before funds can be allocated to you. This fund is usually £50,000 of capital to trade your strategy at zero personal financial risk.
LittleFish FX was launched in 2012 as a Forex trading skill acquisition center where in-depth trading courses, comprehensive FX analysis, professional trade alerts and a wealth of FX indicators are shared. In 2016, the company decided to open a full blown prop trading hub for training and profit making.
This simply means that the prop trading firm has some kind of history. However, ownership information has not been disclosed. We know that this is a company and therefore founders must be introduced to inspire trust.
LittleFish FX Review
LittleFish FX claims to absorb all losses associated with their student’s trading activities. They claim that the only cost associated with trading the company’s live accounts is the personal investment that you will make to train yourself, which is supposedly going to cover all liabilities arising from trading. This is too good to be true, which is why we decided to analyze this prop trading firm to deduce where the truth is.
We’re a bit wary of these prop trading firms and would recommend trading a personal account using these simple trading tools.
The trading programme usually last between 3-12 months, depending on your experience. We see that there are a number of listed items involved in this programme in order to qualify for a “Capital Allocation” with this company. The 8 features are as follows:
- One-To-One Mentoring Sessions
- Institutional Insights
- Market Map Updates
- Live Analysis Webinars
- Forex Trading Course
- All Littlefish FX Indicators
- Tech Team Support
- Flexible Pricing Model
Since traders are paying a certain fee in advance, it looks like they’ll be gaming with the casino because their ultimate loss will be obvious while the prop trading firm gains.
LittleFish FX Strategy
LittleFish FX does not mention the exact trading strategy one will gain before successfully apply for a $50,000 funded trading account. We would like this company to clearly highlight or demonstrate the form of trading strategies used by their professional traders and mentors. Lack of this disclosure makes LittleFish FX look dishonest in the eyes of serious traders.
The company promises a professional trading mentorship that will create a tailored, custom lesson plan based on your experience, skill set and commitments. Even with the best training in the world, some traders have been known to lose money and give up.
LittleFish FX Result
LittleFish FX prop trading performance is based in preservation of and profit from the firm’s capital. We are meant to believe that 4.5% per quarter performance expectation is required from those that qualified to the prop trading team.
But how can one verify this as a potential client? We’ve not seen any verified reviews or result supporting these claims, not even a myfxbook account to prove that they’ve been trading professionally.
With myfxbook.com, we will know the Profit percentage of their trading account, non-fabricated trading results for the entire dating period up to the present.
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Conclusion
The concept that prop trading firms use is generally a scam. They are sort of shady because their method of operation doesn’t make any sense.
You’d stand a better chance winning a poker game than winning a $50,000 funded trading account.
Forex trading is a risky business, what we should probably reiterate is that anyone with some common sense will never believe that a prop trading firm like LittleFish FX can let you trade a live account at the expense of personal investment which is not equivalent to the loss they can suffer if things go south.