Can We Trust LeoPrime?

Founded in 2017, LeoPrime is a Seychelles-based brokerage firm that offers a range of financial services to individuals and businesses. LeoPrime focuses on providing fair and efficient services to its clients, aiming to create a global investment ecosystem through innovative financial technology.

LeoPrime provides its clients with a wide range of trading instruments, including forex, precious metals, indices, commodities, and stocks. The firm caters to a global clientele, with users in more than 100 countries.

Currently, LeoPrime does not provide its services to residents in specific jurisdictions, including the United States, Belgium, North Korea, France, Australia, Israel, and Japan.

Account Types:

LeoPrime offers a selection of account types designed to cater to different trading preferences:

Demo Account:

The LeoPrime demo account, compatible with MetaTrader 4, allows traders to practice their skills without risking their own funds. It comes with a virtual balance of $1,000 and remains active for 90 days.

Cent Account:

With a minimum deposit requirement of $10, the Cent Account provides access to the MT4/5 trading platforms and mobile trading. Spreads start from 1.6 pips, and traders can utilize leverage of up to 1:1000. There is no commission, and the account does not offer a Swap-free Islamic option.

Classic Account:

For the Classic Account, a minimum deposit of $10 is needed. Traders gain access to the MT4/5 trading platforms, mobile trading and PAMM platforms, with a maximum leverage ratio of 1:1000. Spreads start from 1.6 pips, and there is no commission. The Classic Account also offers a Swap-free Islamic option.

Pro Account:

To open a Pro Account, a minimum deposit of $1,000 is required. Traders can utilize the MT4/5 trading platforms, mobile trading and PAMM platforms, with a leverage ratio of up to 1:500. Spreads start from 0.3 pips, and a commission of $3 per standard lot applies. The minimum order volume is 0.01. However, the Pro Account does not provide a Swap-free Islamic option.

ECN Account:

To open an ECN Account, a minimum deposit of $2,000 is necessary. Traders gain access to the MT4/5 trading platforms, mobile trading and PAMM platforms, with spreads starting from 0.1 pip. The leverage ratio can go up to 1:200. A commission of $6 per standard lot applies, and the minimum order volume is 0.01. The ECN Account also offers a Swap-free Islamic option.

Deposits and Withdrawals:

LeoPrime offers Cent and Classic Accounts that can be opened with a minimum deposit of $10, while the Pro and ECN accounts require a higher minimum deposit of $1,000 each.

LeoPrime does not impose any charges for funding and withdrawal transactions. Clients have the flexibility to use various payment methods, including bank wire, credit cards (Visa and Mastercard), Neteller, Skrill, Perfect Money, Bitcoin, Fasapay, WebMoney, UnionPay, and Alipay, to fund their accounts or withdraw funds.

Withdrawal requests are processed within one business day by LeoPrime. The actual withdrawal time depends on the processing speed of the client's bank, typically ranging from 1 to 5 business days. LeoPrime does not charge any commission or handling fee for withdrawals or deposits. However, if transaction fees or commissions are imposed by payment system providers, those costs are borne by the customer. LeoPrime does not accept third-party payments, as funds injected into a trading account by non-account holders are considered third-party payments.

Trading Platforms:

LeoPrime currently offers the popular and widely acclaimed MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. The MT4 platform is available in mobile, desktop and web-browser versions

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Regulatory Information:

LeoPrime states that it is registered in Seychelles (Co. No. 8424165-1) authorised and regulated with Securities Dealers License by the Financial Service Authority (FSA) – Seychelles, with license number SD032.

WikiFX is a global forex broker regulatory query platform that houses verified information of over 45,000 forex brokers. We research, review and rate forex brokers from various aspects to prove their credibility.

From here, it is stated that LeoPrime has a WikiScore of 5.38 out of 10.

WikiFX has verified the FSA that LeoPrime claims to possess. While the Securities Dealers License issued by the Financial Services Authority (FSA) in Seychelles allows brokers to operate legally, it is not considered a top-tier license or regulator.

Simultaneously, WikiFX found that LeoPrime was previously under the regulation of The Vanuatu Financial Services Commission (VFSC) but now, the VSFC license (license number: 40322) has been revoked.

In conclusion, traders seeking a higher level of regulatory oversight and investor protection may prefer brokers regulated by more prestigious and reliable regulatory bodies. These brokers often adhere to stricter requirements, offer enhanced financial safeguards, and provide greater confidence in their operations. Opting for a highly regulated broker offers advantages such as increased trust, additional investor protection measures, and stricter client fund segregation.