LeoPrime Forex Broker Introduction
LeoPrime sees itself as a world-class, next-generation multi-asset broker as it takes pride in offering a wide range of trading services for both retail and institutional traders. A well-documented offshore broker, LeoPrime is a MetaTrader brokerage firm with MT4 and MT5 platforms at the core of its trading environment to go along with its competitive and transparent pricing.
Find out what else Leo Prime is capable of in terms of providing an advantageous trading environment by reading the entirety of this forex broker review.
LeoPrime Background and Safety
Leo Prime Services Limited is headquartered in Seychelles since its foundation. It also has a working site in the Marshall Islands that is duly registered under the Marshall Islands Business Corporation Act. This entity in the Marshall Islands is the one operating the cryptocurrency trading services of LeoPrime.
The broker boasts of its trading technology that utilizes low-latency execution, low-cost spreads, and swift execution. It has partnerships with major liquidity providers to provide a transparent trading environment. It is also proud to be recognized by a number of key award bodies across the globe for its excellence in delivering the best customer service, value, pricing, products, and client support.
If we put into consideration LeoPrime’s regulatory credentials, traders and investors will find it satisfactorily as the broker is regulated by the Financial Services Authority (FSA) in Seychelles and holder of Securities Dealers License. Note, though, that LeoPrime is not accessible in certain jurisdictions including Belgium, France, North Korea, U.S.A., Australia, Japan, and Israel.
Being an offshore regulated broker, LeoPrime is not a bad choice to jumpstart your trading career but investing your trading capital in the broker’s custody should come with vigilance and precaution.
LeoPrime Features and Fees
LeoPrime gives traders direct access to the following financial markets:
- Forex (around 50 currency pairs available)
- Spot Metal (Gold and Silver)
- Cryptocurrency (4 crypto pairs available)
- Energy (2 CFDs available)
- Indices (around 6 Stock Indices CFDs available)
LeoPrime offers an array of trading accounts for clients with different trading experience levels and varying preferences in trading conditions. The account types include:
Classic – traders are asked with a $10 minimum deposit for opening this account type. Spreads start from 1.6 pips; maximum leverage is up to 1:1000; zero commission fees; and trade size minimum of 0.01 lots and a maximum of 100 lots.
Pro – this account type is preferred by trading professionals who want a low trading cost but still with favorable trading conditions. It features floating spreads starting from 0.0 pips while commission fees start from $3 per standard lot. In terms of trade size, the minimum is set at 0.01 while its maximum is up to 100 lots. The leverage is up to 1:500. Be ready to shell out $1,000 if you choose to open this account type.
ECN – traders looking for raw, ultra-tight spreads with zero markups can try this account type. This account offers a transparent commission-based structure with commission fees starting from $6 per Standard lot. Spreads start from 0.1 pips and initial deposit amounting to $1,000. It also has the same minimum and maximum trade size as the other account types. The leverage is only up to 1:200.
Cent – traders using this account type are allowed to trade in cents and it uses 100x denominated units of the base currency without compromise on trading conditions. By depositing a minimum balance of $10, you can practice your trading strategies with this account type without risking much of your fund. Spreads in this account start from 1.6 pips and trade size is not different from the rest of the account types. You are also treated with high leverage of up to 1:1000.
LeoPrime displays an array of funding options for its traders. For deposits, traders can use Bank Wire, Visa, Neteller, Skrill, Perfect Money, bitcoin, Fasapay, online bank transfer from Malaysia, China, Indonesia, Thailand, and Vietnam, AliPay, and UnionPay. Most of these options have no deposit fees.
For withdrawals, the above-mentioned options are also available except for credit cards. There are no withdrawal fees for any of the given options.
LeoPrime Trading Platforms and Tools
LeoPrime offers the MetaTrader platform in two versions, MT4 and MT5.
MT4 (Features): round-the-clock market access, 9 timeframes and 3 chart types, real-time symbol quotes, one-click trading, intra-device compatibility, multiple charts in 19 timeframes, Expert Advisors, 3 execution modes, MQL4 Community access, 30 built-in indicators and 24 analytical objects, customizable alerts, and connection to over 2,000 broker servers.
MT5 (Features): round-the-clock market access, real-time symbol quotes, over 80 technical indicators and graphical objects, 4 execution modes, Market Depth, advanced charting tools, Multi-threaded strategy tester, multiple charts in 21 timeframes, push notifications, economic calendar, and MQL5 Community access.
Both MT4 and MT5 platforms are available on various versions including Windows, Mac, Android, and iOS.
VPS server is an additional feature of the broker for traders who want to have faster and more secure trading.
LeoPrime does not service in major economies and has limited non-forex financial instruments. It also has to enhance its educational resources for beginning traders. On the good side, the broker has a good set of trading tools, a good range of flexible account funding options, and Daily market analysis and VPS features.