LeoPrime Review

Category: Reviews | Author: Trading Brokers | Date: September 19, 2023

If you are looking for a forex broker that offers a variety of trading instruments and services, you might have come across LeoPrime. LeoPrime is an online broker that claims to provide access to the global financial markets, including forex, cryptocurrencies, commodities, indices, and metals. But how reliable and trustworthy is LeoPrime? What are its pros and cons? And what are the things you need to know before opening an account with LeoPrime? In this article, we will answer these questions and more, as we review LeoPrime based on the following factors: its regulation, platforms and tools, education, markets, accounts, and funding options. By the end of this article, you will have a better understanding of LeoPrime and whether it is a suitable broker for your trading needs.

Pros & Cons

  • Offers competitive spreads and leverage, which can be attractive to traders looking for low fees and high leverage
  • Has an Anti-Money Laundering (AML) policy
  • Offers a wide selection of trading instruments, including forex, metals, and other financial instruments
  • Offers the popular MetaTrader 4 (MT4) trading platform, which is known for its user-friendly interface and advanced charting tools
  • Not regulated by any major financial regulatory body, except for the Financial Service Authority (FSA) of Seychelles
  • LeoPrime is an offshore broker, which may pose a risk to traders who choose to use their services
  • Limited information available on the broker's background and services

Summary

LeoPrime Review

LeoPrime Review

LeoPrime is a forex broker that was established in 2018 and is based in the Marshall Islands. The broker claims to be registered and licensed by the Financial Services Authority (FSA) of Seychelles. LeoPrime offers trading services in various markets, such as forex, cryptocurrencies, commodities, indices, and metals. It aims to provide competitive trading conditions, such as low spreads, fast execution, and high leverage. The broker also offers various account types, platforms, and tools to suit different trading styles and preferences. LeoPrime provides educational resources for traders of all levels, such as articles, videos, webinars, and ebooks. These resources cover topics such as forex basics, technical analysis, trading strategies, risk management, and more. It also provides customer support to help traders improve their skills and knowledge.

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Regulation

LeoPrime claims to be a regulated forex broker, but its regulatory status is not very impressive. LeoPrime is registered and licensed by the Financial Services Authority (FSA) of Seychelles, with license number SD032. The FSA is an offshore regulator that has a low reputation and credibility in the forex industry. The FSA does not impose strict requirements or supervision on its licensed brokers, nor does it offer any protection or compensation schemes for traders. This means that trading with LeoPrime could entail a high level of risk, as there is no guarantee that an offshore broker will operate fairly and honestly, or that traders will be able to recover their funds in case of any issues.

Moreover, LeoPrime is also registered as a company in Vanuatu, with registration number 40322. The company is regulated by the Vanuatu Financial Services Commission (VFSC), which is the official regulator of financial services in Vanuatu. The VFSC is responsible for ensuring that the companies under its jurisdiction comply with the laws and regulations of Vanuatu, such as the Financial Dealers Licensing Act. However, this does not mean that LeoPrime is regulated by the VFSC as a forex broker. The VFSC does not have any specific rules or standards for forex brokers, nor does it provide any protection or compensation schemes for traders. The VFSC only regulates the general conduct and operations of the companies under its jurisdiction, such as their registration, licensing, reporting, and auditing requirements. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

LeoPrime offers two trading platforms for its clients: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These are popular and user-friendly platforms that support multiple devices, languages, and features. LeoPrime also provides various tools, such as market news, economic calendar, trading signals, and indicators. Here, we will review LeoPrime’s platforms and tools in more detail.

  • MetaTrader 4 (MT4): MT4 is one of the most widely used trading platforms in the forex industry. It offers a simple and intuitive interface, as well as advanced charting and analysis tools. MT4 supports automated trading with expert advisors (EAs), custom indicators, and scripts. MT4 also allows traders to access a large community of traders and developers, where they can share ideas, strategies, and resources. LeoPrime offers MT4 for desktop, web, and mobile devices.
    MT4 Platform

    MT4 Platform

  • MetaTrader 5 (MT5): MT5 supports more markets and instruments, such as stocks, futures, options, and cryptocurrencies. MT5 also offers more order types, execution modes, timeframes, and technical indicators. MT5 supports automated trading with EAs, custom indicators, and scripts, as well as a built-in strategy tester and optimizer. MT5 also allows traders to access a large community of traders and developers, where they can share ideas, strategies, and resources. LeoPrime offers MT5 for desktop, web, and mobile devices.
    MT5 Trading Platform

    MT5 Trading Platform

  • Market News: LeoPrime provides market news on its website and platforms, which covers the latest events and developments in the global financial markets. The market news includes analysis, commentary, forecasts, and opinions from experts and professionals. The market news helps traders to stay informed and updated on the market trends and opportunities.
  • Economic Calendar: LeoPrime provides an economic calendar on its website and platforms, which shows the upcoming economic data releases and events that may affect the market movements. The economic calendar includes the date, time, country, currency, importance, previous value, forecast value, and actual value of each data release or event. The economic calendar helps traders to plan their trades ahead of time and to anticipate the market volatility.
  • Trading Signals: LeoPrime provides trading signals on its website and platforms, which are generated by professional traders and analysts. The trading signals include the entry price, stop loss price, take profit price, direction, instrument, timeframe, and risk level of each trade recommendation. The trading signals help traders to follow the market trends and to execute their trades with confidence.
  • Indicators: LeoPrime provides various technical indicators on its platforms, which are mathematical calculations based on the price and volume data of the instruments. The indicators help traders to identify the market patterns, trends, momentum, volatility, and support and resistance levels. LeoPrime offers both standard and custom indicators on its platforms.

Education

LeoPrime provides educational resources for traders of all levels, such as articles, videos, webinars, and ebooks. These resources cover topics such as forex basics, technical analysis, trading strategies, risk management, and more. LeoPrime’s education section aims to help traders improve their trading skills and knowledge and to enhance their trading performance and results.

LeoPrime’s education section can be accessed from its website or from its platforms. The education section is divided into four categories: Learn Forex, Learn Technical Analysis, Learn Trading Strategies, and Learn Risk Management. Each category contains several subtopics that explain the concepts and principles of the respective topic in detail. The education section also provides examples, charts, diagrams, and illustrations to help traders understand the content better. Some of the subtopics that LeoPrime’s education section covers are:

  • Learn Forex: This category covers the basics of forex trading, such as what is forex, how forex works, what are currency pairs, what are pips and lots, what are spreads and commissions, what are leverage and margin, and more.
  • Learn Technical Analysis: This category covers the basics of technical analysis, such as what is technical analysis, how to use charts and indicators, what trend lines and channels, what are support and resistance levels, what candlestick patterns and chart patterns, and more.
  • Learn Trading Strategies: This category covers some of the common trading strategies that traders can use in the forex market, such as trend-following strategies, breakout strategies, scalping strategies, swing trading strategies, and more.
  • Learn Risk Management: This category covers some of the essential risk management techniques that traders should apply in their trading activities, such as what risk management is, how to calculate the risk-reward ratio, how to set stop loss and take profit orders, how to use trailing stops and hedging, and more.

Markets

LeoPrime offers trading services in various markets, such as forex, cryptocurrencies, commodities, indices, and metals. LeoPrime claims to offer over 200 trading instruments with low spreads and high leverage. LeoPrime also claims to offer fast execution and no requirements. In this section, we will review LeoPrime’s markets in more detail.

  • Forex: LeoPrime offers over 50 currency pairs for trading, including major, minor, and exotic pairs. LeoPrime claims to offer tight spreads starting from 0 pips, high leverage up to 1:1000, and no commission on forex trades.
  • Cryptocurrencies: LeoPrime offers over 30 cryptocurrency pairs for trading, including crypto-to-crypto and crypto-to-fiat pairs. LeoPrime claims to offer low spreads starting from 0 pips, high leverage up to 1:5, and no commission on cryptocurrency trades.
  • Commodities: LeoPrime offers over 20 commodities for trading, including energy, metals, and agricultural products. LeoPrime claims to offer low spreads starting from 0 pips, high leverage up to 1:500, and no commission on commodities trades.
  • Indices: LeoPrime offers over 10 indices for trading, including global and regional indices. LeoPrime claims to offer low spreads starting from 0 pips, high leverage up to 1:200, and no commission on indices trades.
  • Metals: LeoPrime offers over 10 metals for trading, including spot and futures contracts. LeoPrime claims to offer low spreads starting from 0 pips, high leverage up to 1:500, and no commission on metals trades.

Accounts

LeoPrime offers four account types for its clients: Classic, Pro, ECN, and Cent. These account types differ regarding minimum deposit, spread, commission, leverage, margin call, stop out level, and swap charges. LeoPrime also offers a demo account and an Islamic account for Muslim traders. In this section, we will review LeoPrime’s account types in more detail.

  • Classic: The Classic account is the most basic account type offered by LeoPrime. It requires a minimum deposit of $10 and offers variable spreads starting from 1.6 pips. The Classic account does not charge any commission on trades and offers leverage up to 1:1000. The Classic account has a margin call level of 100% and a stop out level of 50%. The Classic account also charges swap fees for holding positions overnight.
  • Pro: The Pro account is the next level of account type offered by LeoPrime. It requires a minimum deposit of $200 and offers variable spreads starting from 0.6 pips. The Pro account charges a commission of $2 per lot per side on trades and offers leverage up to 1:500. The Pro account has a margin call level of 100% and a stop-out level of 50%. The Pro account also charges swap fees for holding positions overnight.
  • ECN: The ECN account is the most advanced account type offered by LeoPrime. It requires a minimum deposit of $500 and offers raw spreads starting from 0 pips. The ECN account charges a commission of $4 per lot per side on trades and offers leverage up to 1:200. The ECN account has a margin call level of 100% and a stop-out level of 50%. The ECN account also charges swap fees for holding positions overnight.
  • Cent: The Cent account is a special account type offered by LeoPrime for beginners and low-budget traders. It requires a minimum deposit of $10 and offers variable spreads starting from 1.6 pips. The Cent account does not charge any commission on trades and offers leverage up to 1:1000. The Cent account has a margin call level of 100% and a stop-out level of 50%. The Cent account also charges swap fees for holding positions overnight. The Cent account allows traders to trade with micro lots (0.01 lot) and cent lots (0.1 lot), which means that each pip movement is worth $0.01 or $0.1 respectively.
  • Demo: The Demo account is a free and risk-free account type offered by LeoPrime for practice and testing purposes. It allows traders to access the MT4 or MT5 platforms with virtual money and real market conditions. The Demo account is valid for 90 days and has an initial balance of $1000.
  • Islamic: The Islamic account is a swap-free account type offered by LeoPrime for Muslim traders who follow the Sharia law. It allows traders to trade without paying or receiving any interest or swap fees on their positions. The Islamic account is available for all the other account types, except the Cent account.

Funding

LeoPrime offers limited funding options for its clients. The broker only accepts deposits and withdrawals via bank wire transfer, credit/debit card, Skrill, Neteller, Perfect Money, Bitcoin Cash (BCH), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Tether (USDT), and USD Coin (USDC). The broker charges fees for deposits and withdrawals depending on the method and amount. The broker also has a minimum withdrawal amount of $10.

LeoPrime supports some of the most popular and convenient payment methods, such as credit/debit cards and e-wallets. The broker also supports some of the most widely used cryptocurrencies, which offer fast, secure, and anonymous transactions. Traders should also ensure that they have enough funds in their accounts to meet the margin requirements and to avoid any unwanted fees or charges.

Conclusion

In conclusion, LeoPrime is an online forex broker, founded in 2018 and based in the Marshall Islands. It claims to be regulated by the Financial Services Authority (FSA) of Seychelles, offering access to various markets including forex, cryptocurrencies, commodities, indices, and metals. LeoPrime provides multiple account types, a choice between MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, educational resources, and various funding options, including cryptocurrency deposits. However, it’s important to note that there are other brokers in the market with longer track records that may also warrant consideration as alternative options. To explore additional choices and make an informed decision, we encourage you to explore our comprehensive trading broker reviews. Your trading journey can benefit from a thorough exploration of the available options, ensuring that you find the best fit for your specific needs and preferences.

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$10

LeoPrime is a forex broker that offers trading services in various markets, such as forex, cryptocurrencies, commodities, indices, and metals. LeoPrime claims to provide competitive trading conditions, such as low spreads, fast execution, and high leverage.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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