General Information
LeoPrime is a regulated forex brokerage based in Seychelles. They are licensed by the Seychelles Financial Services Authority (FSA) with license number SD032.
LeoPrime offers a diverse range of market instruments for trading, including forex, energies, spot metals, indices, and stocks. Traders can access these markets through four different types of trading accounts: Classic, Pro, ECN, and Cent. Clients of LeoPrime can trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
Pros and Cons
Is LeoPrime Legit?
LeoPrime is regulated by the Seychelles Financial Services Authority (FSA) with license number SD032. The Seychelles FSA is an offshore regulatory agency.
Market Instruments
1. Forex:
LeoPrime provides a wide range of forex trading options, allowing investors to trade various currency pairs.
2. Energies:
LeoPrime enables trading in spot energy contracts, including crude oil, Brent, and natural gas, offering opportunities in the energy market.
3. Spot Metals:
LeoPrime offers trading in spot metals, providing low spreads, giving investors the chance to diversify their portfolios with precious metals like gold and silver.
4. Indices:
LeoPrime allows traders to engage in trading stock indices CFDs, providing access to global markets and opportunities for diversification.
5. Stocks:
LeoPrime offers trading in stocks, providing market execution for some of the world's most popular stocks, enabling investors to participate in the equity markets.
Account Types
LeoPrime offers four different types of trading accounts: Classic, Pro, ECN, and Cent.
CLASSIC ACCOUNT:
The Classic account is suitable for traders who prefer a lower minimum deposit and a wider range of trading platforms. With a minimum deposit of $10, traders can access the MT5, MT4 Desktop, MT4 Mobile, and PAMM platforms. The spread starts from 1.6 pips, and leverage can go up to 1:1000. There is no commission charged per standard lot, and the account offers a range of trading symbols, including 35 currency pairs, gold, silver, crude, and indices. Traders also have the option for a swap-free Islamic account.
PRO ACCOUNT:
The Pro account is designed for traders who are willing to deposit a minimum of $1,000 and seek lower spreads. Traders can utilize the MT5, MT4 Desktop, MT4 Mobile, and PAMM platforms. The spread starts from 0.3 pips, and leverage can reach up to 1:500. A commission of $3 per standard lot is applied. Similar to the Classic account, the Pro account offers 35 currency pairs, gold, silver, crude, and indices.
ECN ACCOUNT:
The ECN account is suitable for traders who require direct market access. To open an ECN account, traders need to deposit a minimum of $2,000. The account offers the MT5, MT4 Desktop, MT4 Mobile, and PAMM platforms. The spread starts from 0.1 pips, and leverage can go up to 1:200. Traders are charged a commission of $6 per standard lot. The ECN account provides access to 35 currency pairs, gold, silver, crude, and indices. Additionally, traders have the option for a swap-free Islamic account.
CENT ACCOUNT:
The Cent account is designed for traders who prefer smaller position sizes and a lower minimum deposit. With a minimum deposit of $10, traders can access the MT5, MT4 Desktop, and MT4 Mobile platforms. The spread starts from 1.6 pips, and leverage can reach up to 1:1000. Similar to the Pro account, there is no commission charged per standard lot. However, the Cent account is limited to trading 35 currency pairs only.
How to Open an Account?
To open an account with LeoPrime, follow these steps:
- Visit the LeoPrime website and click on the “Open a Live Account” option on the homepage.
2. Choose the type of account you wish to open from the available options.
3. Fill in the required basic information on the registration page, providing accurate details.
4. Submit the registration form to create your personal area cabinet.
5. Check your email for the credentials to access your personal area cabinet. Use the provided login information to log in.
6. Once you are logged into your personal area cabinet, locate the “Create New Trading Account” option.
7. Click on the “Create New Trading Account” option and follow the instructions provided.
8. Your MT4 login credentials will be sent to your email.
9. Check your email for the MT4 login details and use them to access your trading account.
Leo Prime Leverage
LeoPrime offers different leverage options for its various account types. The leverage provided is up to 1:1000 for Classic and Cent accounts, up to 1:500 for Pro accounts, and up to 1:300 for ECN accounts.
Spreads & Commissions
The average spread for the Classic account is 1.6 pips for EURUSD, 1.7 pips for GBPUSD, 1.7 pips for XAUUSD, 2.1 pips for XGUUSD, 11.6 pips for Bitcoin, 7 pips for Crude Oil, and 5 pips for NASDAQ 100. The average EURUSD spread for cent accounts is 1.6 pips, the average GBPUSD spread is 1.7 pips, the XAUUSD spread is 1.7 pips, and the XGUUSD spread is 2.1 pips.
The average spread for Pro accounts is 0.6 pips for EURUSD, 1.1 pips for GBPUSD, 0.5 pips for XAUUSD, 0.9 pips for XGUUSD, 20 pips for Bitcoin, 7 pips for Crude Oil, and 4 pips for NASDAQ 100. The average spread on ECN accounts is 0.2 pips on EURUSD, 0.7 pips on GBPUSD, 0.1 pips on XAUUSD, 0.5 pips on XGUUSD, 10 pips on Bitcoin, 3.5 pips on Crude Oil, and 4 pips on Nasdaq 100. The commission of ECN accounts is $6/standard lot.
Trading Platform
LeoPrime offers its clients access to two industry-leading trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MetaTrader 4 (MT4) is a popular platform designed specifically for forex trading. It provides traders with various features and tools for analyzing financial markets, executing trades, and automating trading strategies. Some notable features of MT4 include round-the-clock market access, real-time symbol quotes, multiple chart types and timeframes, one-click trading, expert advisors (EAs) for automated trading, and access to the MQL4 community.
MetaTrader 5 (MT5) is an advanced trading platform offered by LeoPrime. It includes all the features of MT4 and introduces additional functionalities. MT5 offers a wider range of charting tools, execution modes, and order types, providing traders with greater control over their positions. It supports 21 timeframes, including various minute, hourly, daily, weekly, and yearly charts, allowing for more in-depth market analysis. MT5 also offers features like market depth, multi-threaded strategy tester, netting option, and access to the MQL5 community.
Both MT4 and MT5 are available for Windows, Mac, Android, and iOS devices.
Deposit & Withdrawal
LeoPrime supports various payment methods for both deposit and withdrawal transactions. The available options include VISA, Mastercard (with a 3% fee for deposits), Skrill, NETELLER, Fasapay, Perfect Money, and Bitcoin, among others. No commission is charged for deposit and withdrawal transactions.
Deposit
- Payment Gateway: LeoPrime offers multiple payment gateways, including RAPID, FAST & SECURE FET SOLUTIONS, BANKWIRE, VISA, Mastercard, Perfect Money, Fasapay, and more. The maximum deposit amount ranges from $8,000 to $30,000, depending on the method chosen. The minimum deposit amount is $10 for most payment options.
Withdrawal
- Payment Gateway: For withdrawals, LeoPrime supports BANKWIRE, Perfect Money, MALAYSIA ONLINE BANK TRANSFER, INDONESIA ONLINE BANK TRANSFER, THAILAND ONLINE BANK TRANSFER, VIETNAM ONLINE BANK TRANSFER, WebMoney, Alipay, and China Unionpay. The withdrawal timing varies, with some methods offering instant withdrawals, while others may take 2-5 business days. The minimum withdrawal amounts range from $10 to $1,000, depending on the chosen method.
Customer Support
The LeoPrime customer support services can be reached through email, telephone, as well as live chat support, which is at the right bottom corner of the page.
Trading Tools
Trading Tools offered by LeoPrime include:
1. Economic Calendar:
LeoPrime provides an economic calendar that displays important upcoming events and economic indicators, helping traders stay informed about market-moving events and make more informed trading decisions.
2. Forex Calculator:
LeoPrime offers a forex calculator tool that allows traders to calculate key trading parameters such as pip value, margin requirements, and profit/loss for various currency pairs. This tool assists traders in managing their risk and making accurate trade calculations.
3. Client Sentiment:
LeoPrime provides a client sentiment tool that shows the percentage of traders who are long or short on a particular instrument. This tool gives traders insights into market sentiment, which can be used to gauge potential market direction and make informed trading decisions.
4. VPS Hosting:
LeoPrime offers VPS (Virtual Private Server) hosting services for traders who want to ensure uninterrupted trading and take advantage of automated trading strategies. A VPS allows traders to run their trading platforms and expert advisors (EAs) 24/7 without the need for their personal computers to be constantly connected to the internet.
Customer Support
LeoPrime provides multiple channels for customer support, including email, telephone, and live chat support. Clients can reach out to the all-star Client Support team for any questions or assistance they may need. The contact information for customer support is as follows:
Client Support:
- Phone: +248 4374755 / +44 20380 85868
- Availability: Monday to Friday, 07:00-20:00 (GMT)
Compliance Support:
- Phone: +44 20380 85868 (EXT - 104)
- Queries are typically answered within a 24-hour time window during regular business hours.
Email:
- Support Email: support@leoprime.com
Social Media Presence:
LeoPrime can also be found on various social media platforms, including Twitter, Facebook, Instagram, and LinkedIn. Clients can connect with LeoPrime and stay updated on their latest news and updates through these channels.
FAQs
What is the minimum deposit requirement at LeoPrime?
The minimum deposit varies depending on the type of account. For the Classic and Cent accounts, the minimum deposit is $10. The Pro account requires a minimum deposit of $1,000, while the ECN account has a minimum deposit requirement of $2,000.
What payment methods are supported for deposits and withdrawals?
LeoPrime supports various payment methods, including VISA, Mastercard, Skrill, NETELLER, Fasapay, Perfect Money, and Bitcoin, among others.
What trading platforms does LeoPrime offer?
LeoPrime offers access to two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are available for Windows, Mac, Android, and iOS devices.
What trading tools are available at LeoPrime?
LeoPrime provides trading tools such as an economic calendar, forex calculator, client sentiment indicator, and VPS hosting services for uninterrupted trading.
How can I contact LeoPrime's customer support?
You can contact LeoPrime's customer support through email (support@leoprime.com), phone, or live chat. The contact numbers are +248 4374755 (English) and +44 20380 85868 (English).
2023-04-10 18:25
