LittleFish FX is prop trading programme, that wants to help traders turn from “market minnows into trading sharks.” The team are made up of a group of content creation experts that have produced trading courses, comprehensive analysis, professional trade alerts and helpful Forex indicators. They believe that each aspect is important in turning a trader profitable, not just one. Today we will be providing a review and letting you know if this is a worthwhile service, based on different rating categories.
The service launched in 2012 with an assortment of different education materials, and in 2016 they launched the complete “Prop Trading Programme.” The team does not provide any information about their headquarter location, and don’t introduce us to any of their analysts. We would like to see a little more transparency in this category. Being around as long as they have, there is no excuse as to why there is little to no detail about the company.
To get in touch with support, traders can fill out a contact form on the website. There is no direct email address or phone number available at this time.
LittleFish FX Review
The main goal of the LittleFish FX service, is to help traders by giving them the opportunity to work closely with real “pro traders on a daily basis, from anywhere in the world.” Traders that successfully complete the mentor program qualify to be full time traders with LFX, trading with their capital and profit sharing.
In order to get through the program, it takes an estimated 3-12 months, depending on the trader’s current level of experience. During this time, traders are expected to spend 10-20 hours per week studying, which essentially makes this a part time job. It’s not the same, but the profit sharing is very similar to a couple other Forex reviews we’ve completed in the past with FTMO and Earn2Trade.
There are 8 different elements to the service that the vendors want all potential clients to be aware of:
- One on one mentoring sessions
- Institutional insights
- Live analysis webinars
- Market map updates
- Forex trading course
- FX Indicators
- Flexible pricing model
- Tech support
The LittleFish FX surprisingly don’t go into any real detail about their trading strategy. We are aware that they utilize indicators, market maps and a few other elements to inform their trading decisions, but we would like to see some specifics.
Ideally, we would like to see the team explain a few different concepts, or share a couple of free morsels for us to chew over. If we could see a few minutes of their webinars, a video of their indicators, or even a few chapters of their Forex trading course, we would be much more comfortable.
- Established: 2012
- Type: Profit sharing
- Strategy: Undisclosed
- Profit share: 50%
- Price: £2,500 – £5,000
In order to take part in the 3-12 month LittleFish FX mentoring program, traders are expected to pay anywhere from £2,500 – £5,000 depending on their level of experience. The trader’s level of experience is determined to be either Novice, Intermediate or Advanced. The Novice Trader plan is for traders with less than 12 months experience. This plan costs a one time £5,000 fee, and requires a mentorship process of 9-12 months. The Intermediate trader plan is for traders with over 2 years of trading experience, and 12 months of live trading, which has to be proven. This plan costs a one time £3,500 fee, and has a mentorship process of 6-9 months. Lastly, the Advanced Trader plan is for traders with over 3 years of experience and over 18 months of live trading. This plan costs £2,500 and requires a mentorship process of 3-6 months.
What we take from all this, is that it’s a very serious undertaking. You have to spend a lot of money, right out of the gate just to get involved with this group.
The LittleFish FX team focus on preserving profit at all costs. They expect that all of their traders will be able to meet a 4.5% gain every single quarter. If traders fail to meet this expectation two quarters in a row, then the trader will lose their trading privileges in a performance review.
Much like the trading strategy section, we are a bit surprised that the vendor doesn’t provide any verified trading results. We would like to see their trading accounts on Myfxbook, so we know that they are profitable traders, before signing up. They should also be showing us verified trading accounts of the traders that have passed their programme, so we know that it’s possible.
Overall, the LittleFish FX service is well put together and professional. Though, we need to see much more before we can provide a recommendation. The most important aspect that is missing, are the trading results. We always want to see proof that a vendor or team is profitable, before we decide to sign up with them.
Thanks for reading the review, and please leave your comments and remarks below the article now.