LeoPrime Review & User Rating 2021
Leo Prime Services Limited is a Securities Dealer license registered in Seychelles with registration number 8424165-1 and authorised by the Financial Services Authority (FSA) with licence number SD032.
Established in the year 2017, LeoPrime is a relatively new broker in the industry that has gained a great deal of popularity owing to its services and offerings. Based in Seychelles in Vanuatu, it is essentially and STP/ECN broker with offices in Majuro, Mahe, and Port Vila.
The broker offers a wide range of financial instruments for trading, including Cryptocurrencies, Forex currencies, Indices, Energies, and Metals.
LeoPrime Trading Conditions and Platform
LeoPrime is a multi-asset brokerage firm that offers 65+ trading instruments including- Forex, Spot Metals, Indices, Energies, etc. Experience the best market execution on all our products.
One of the advantages of trading with LeoPrime is that traders get access to the industry-recognized MetaTrader 4 or an MT4 platform. The user-friendly, featured-packed, and dynamic platform is ideal for trading and can be easily accessed through Web, Desktop, Windows and MAC devices. In addition to this, Also makes MT4 available to its users through mobile apps and iOS and Android devices.
LeoPrime Trading Accounts
Aside to offering the best platform for trading, the broker also enables its users to set up a demo account before going live. LeoPrime further provides traders with 3 distinct account options including the Classic account that requires them to make a 10 USD minimum deposit with spreads starting with 1.6. Apart from this, the broker also provides an ECN account with USD 1000 minimum deposit and a Cryptocurrency account that requires traders to deposit a minimum of 50 USD with leverage of 1:3. Their leverage, however, is on the higher side i.e. around 1: 1000. It is highly recommended that only traders with a high level of experience should consider trading with such high leverage.
Spread starts at 0.0 pips with no hidden markups. LeoPrime offers the lowest and highly competitive spreads across all major & minor currency pairs, even at times of high volatility.
Deposit and Withdrawal Methods
LeoPrime offers multiple methods of deposit and withdrawal to its clients. Typically, brokers can deposit as well as withdraw funds through:
- Bank wire transfer
- Debit/Credit Cards
- Perfect Money
While deposits through Bank Wire Transfers may take anywhere between 2-5 days for the funds to be credited into the trader’s account, deposits made through other e-payment methods are credited instantly. Withdrawals, on the other hand, are processed through the same methods mentioned above and are credited into the client’s account within 24 hours.
As far as regulations are concerned, the LeoPrime does not offer much clarity on this. Their website suggests that the firm is based in Vanuatu and is subjected to the regulatory policies of the VFSC. But, we don’t have much knowledge or information about VFSC and hence we can confirm that trading with the broker would be risky.
The reputed regulatory authorities like the CySec and the FCA require the brokers to comply with numerous stringent rules & regulations that ensure the safety of traders’ funds. Additionally, they also require a broker to maintain client funds in segregated accounts, which is not the case with LeoPrime.
The registered office of Leo Prime Services Limited is at G.S.Complex, 1st floor, Office Number 12, Providence, Mahe, Seychelles