LeoPrime Review – Attractive Offer, But Is It Worth It?

LeoPrime broker is one of those that avoided St. Vincent and Grenadines and landed in Seychelles. Another offshore country is the hub for trading businesses. However, this country still has a regulatory body issuing trading licenses. But to get it you just need to pay $50.000. If that’s the only metric we are in the problem.

But to find out if that’s what you should be looking for, read this LeoPrime review carefully.

LeoPrime Regulation and Fund Security

Indeed, LeoPrime broker has a license issued by the FSA of Seychelles. The officially registered name is Leo Prime Services Limited. Since 2016 they provide services with proper authorization. However, to operate anywhere in Europe or USA they should have a Tier 1 ranked license. Some of those are FCA, BaFin, ASIC or NFA.

These regulations have way stricter requirements. Therefore, the company requesting one is going through rigorous checks. Also, they are constantly monitored. Which can’t be said for an offshore company.

Trading Software Overview

In general, the most popular software in trading is Meta Trader. Primarily due to high reliability, lightning-fast executions, and many live trading tools. Also, mobile apps are very user-friendly, self-intuitive, and provide all the same features as the desktop version. It has more than 19 timeframes, more than 80 indicators, and EAs for automated trading.

All this is available through Meta Trader 4 and Meta Trader 5. Which in fact, LeoPrime trading company provides to its traders. Thus, if you can’t get the profits out the use of such software is minimized. As we could see from LeoPrime reviews, that’s what many traders experienced. So, be aware of that potential issue.

While you are reading this review, check as well our Cambrill and StarTrader reviews for more clarity about the trading world.

Account Types Available

With this offshore broker, there are 4 account types available. To be honest, this broker covers everything they need to look completely legitimate. Thus, their low-tier regulation gives them more freedom. If you compare it with FCA-licensed brokers for instance. Anyway, traders can choose between:

• Classic         $10
• Pro               $1.000
• ECN             $2.000
• Cent             $10

Classic and Cent accounts don’t have commissions, while Pro has $3 and ECN $6 commission. Spreads range from 0.1 pip to 1.6 pips for classic accounts. In general, quite an attractive offer if we disregard weak regulations.

What caught our eye is the leverage. This broker provides leverage of up to 1:1000. However, all EU regulators limit the leverage to 1:30. Simply because of the trader’s protection. With such high leverage and volatile assets like crypto, you can wipe your balance off in seconds.

On the positive side, you can use a demo and Islamic account with LeoPrime broker.

Deposits and Withdrawals Procedure

As for the funding methods, LeoPrime broker has quite solid coverage. They will accept:

• Credit/Debit cards
• Wire transfers
• e-transfers
• Crypto

Only wire transfers take up to 5 business days while all other methods are processed instantly. On the other hand, you can use the same methods for withdrawals. According to the company statement, they will process it within 24 hours.

What you should have in mind is that this broker also offers bonuses. Bonuses are widely forbidden due to malicious clauses. This one has it as well. If you go through the terms and conditions you will realize that withdrawals are a nightmare.

For every $100 bonus, you should trade 50 lots to be able to request a withdrawal. Thus, nobody can tell you whether you made profits with real money or with bonuses. That’s where you can find potential issues with this broker.

How Does LeoPrime Operate?

LeoPrime is an offshore broker that most likely advertises online. It’s not rare that companies present awards or sponsorships to attract traders. Thus, that doesn’t make them saints. They as well promote online but also have introduced a broker feature. This way they gain more traders through referral programs. Generally speaking, everyone that brings more clients gets rewarded.

The positive thing is that you can always get a chargeback if you feel unsafe with this or any other broker. But only if you were making a card transfer. If you know any suspicious broker or you had any issues with such you can contact our fund recovery team.

Perfectly equipped with the knowledge to advise you on any financing steps and issues. As we could see from LeoPrime reviews, traders were facing withdrawal issues. So, don’t hesitate to get in touch if that was you. Have in mind that you can start a chargeback process only within the first 540 days of the transaction.

LeoPrime Summary

• Offshore broker with FSA Seychelles license.
• LeoPrime doesn’t have any Tier 1 regulations.
• Many negative reviews about the company.
• MT4 and MT5 software are available.
• Low minimum deposit requirements.
• Attractive trading conditions.
• The bonus policy is questionable.

FAQs About LeoPrime Broker