LeoTradez claims to have served thousands of brokers. However, we find it hard to believe. This is because we hadn’t heard of such a project before writing this review. And if we haven’t heard about it, there’s a high probability that it’s a scam. In any case, stay with us and we’ll figure it out.
- LeoTradez General Information
- Registration and Client Portal Review
- LeoTradez Trading Conditions
- Account Types Review
- Trading Platform
- LeoTradez — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is LeoTradez a Scam?
- Legal Information and License
- Leotradez.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
LeoTradez General Information
| Website | https://www.leotradez.com/ |
| Phone Number | +34902018070 |
| support@leotradez.com | |
| Address | — |
| License | — |
| Minimum Deposit | $250 |
| Assets | CFDs |
| Leverage | 1:100 |
| Trading Platform | WebTrader |
Registration and Client Portal Review
Ah, the LeoTradez website left us utterly amazed. We mean, who needs coherent content when you’ve got mesmerizing animation, right? It’s like they thought flashy graphics could somehow magically compensate for everything else being a complete train wreck. Seriously, it’s a masterpiece in obfuscation. Looking for information about the company is like embarking on a mythical quest to find a needle in a haystack – good luck with that! By the way, the site’s available in the grand total of two languages – Spanish and English. Of course, they must have a top-secret reason for excluding the rest of the world, but hey, who cares about the little details, right?
Registering on the broker’s website was fast. We mean, we filled out a single, straightforward form, and voila! No bothersome confirmation codes needed – they just graciously ushered us straight into our personal account.
Oh, and surprise, surprise – despite the website’s visual charm, the personal dashboard turned out to be as generic as they come. It’s like they took a cookie-cutter approach, leaving us to navigate the same old features we’ve seen a hundred times before. Nothing innovative or groundbreaking here, just run-of-the-mill standard functions.
LeoTradez Trading Conditions
The broker’s approach to trading conditions has left us astonished, and we’re eager to share the details with you.
Account Types Review
So, at LeoTradez, there are three types of accounts. The first is the Standard account, where trades start from $100,000 lots. But don’t worry, the broker offers a leverage of 1:100, so you only need to deposit a mere $1,000.
Another account type is the Mini account, catering to smaller lots, starting from $10,000. So, for this one, you’d need to top up with a humble $250 to $500. Lastly, there’s the Managed account. As you might have guessed, trading here isn’t exactly a solo venture. Oh, and the minimum amount required for this account type? A cool $2,000.
Now, here’s where it gets really intriguing. You might be thinking, “Oh, I’ll just open a Standard account.” Well, think again. LeoTradez reserves the right to decide which account you get to open and, of course, how much of your hard-earned cash they’ll demand as a minimum deposit. Because, you know, they clearly know better. Such is life.
Trading Platform
Ah, let’s talk about the broker’s trading terminal – a true masterpiece of mediocrity. You can even download this work of “art” into your personal lair – we mean, account – as if using it through the web trader wasn’t painful enough.
But hey, don’t let the illusion of versatility fool you. No matter how hard you try, it’s not going to turn out sweet if you make a cake with salt instead of sugar. The trading platform’s lackluster performance might just be the plot twist you never asked for. Well, why do you think its ratings barely managed to scrape a meager two stars?
LeoTradez — Deposit and Withdrawal of Funds
The broker offers Visa, Mastercard, CashU, or Wire transfer for deposits. However, for withdrawals, only Wire Transfer and credit cards are available. And that’s pretty much it. By the way, LeoTradez conveniently forgets to mention the size of the commissions as well as the speed of fund withdrawals.
Verification
Within your personal account, LeoTradez kindly provides a concise tutorial to assist you in navigating the verification process. In essence, this procedure is straightforward and unfolds as follows.
You initiate by furnishing your personal information, encompassing details like your name, date of birth, and address. Next, you delve into the identity verification stage. This entails uploading a clear and legible scan of a government-issued ID, such as a passport, driver’s license, or national ID card.
As you progress, you’re prompted to submit evidence of your address, usually in the form of a recent utility bill or bank statement that distinctly reflects your name and address. In addition, there might be a requirement for financial documentation, which could encompass bank statements and tax records.
To add a personal touch, LeoTradez might request a selfie in which you hold your ID or a piece of paper with a designated code. Essentially, this step ensures a visual alignment between your face and your ID.
Additional Options
LeoTradez offers a referral program, and, as an additional feature, they provide account management. By the way, it’s worth noting that all these account managers remain anonymous.
In the context of account management services, anonymity raises red flags about the legitimacy and professionalism of the brokerage. Reputable and trustworthy brokers typically provide clients with detailed information about their employees to build credibility and foster a positive client-broker relationship.
Is LeoTradez a Scam?
For us, things are starting to become rather apparent. However, we’re accustomed to seeing things through to the end, so let’s take a moment to elucidate what’s amiss with the broker.
Legal Information and License
And the first thing that we certainly observe – it’s the illegality of LeoTradez operations. Well, legality in general, but in the case of the broker, illegality. Seriously, take a glance at their website and try to locate any semblance of legal information. Spoiler alert – you won’t find any. LeoTradez conveniently omits details about its registration or the identity of its management company. So, from our perspective, the conclusion is crystal clear. The company is nothing more than a scam. If there’s no registration, there’s likely no license either.
Leotradez.com Domain Info
If you’re still harboring doubts, rest assured, we’ve done some digging on the domain of the website for you. So, it was registered in the fall of 2022. And of course, LeoTradez itself was launched even later. In other words, this broker is relatively new to the scene. This fact alone tends to suggest that it’s yet another fraudulent scheme in the making.
Contacts Review
LeoTradez offers contact options through phone or email. Additionally, the broker offers to communicate through the Signal messenger, which is considered more secure. However, unsurprisingly, there’s no physical address provided, which, in principle, falls right in line with the rest of the lackluster information they offer.
Pros and Cons
- None.
- Lack of legal information.
- Anonymity of account managers.
- No licenses.
- Scanty trading terminal.
- New and unestablished entity.
Frequently Asked Questions (FAQ)
LeoTradez presents itself as a trading platform, with a focus on online trading services. Their website suggests a range of account types and trading opportunities, although detailed information on their offerings is limited.
The minimum investment required at LeoTradez depends on the type of account you choose, as per their trading conditions. It’s advisable to review their terms and conditions to determine the specific minimum deposit for the account type that interests you.
No, LeoTradez cannot be considered safe. It operates as an anonymous broker and lacks a proper legal existence.
Don't bring money here
LeoTradez does not process withdrawals. There are numerous reasons for this, in truth. If you compare this shady establishment’s website to that of any reputable broker, you’d notice a striking difference. I won’t name names, but you can find them listed in any forex rating. It becomes evident that this broker can’t even remotely be considered professional, top-tier, or secure. Or whatever titles these swindlers label themselves with.
Stay away
Please provide me with real evidence that LeoTradez processes withdrawals, and then I’ll consider changing my negative opinion to a positive one. For now, this elaborate scam, meticulously concealing its trading conditions and vital information about itself and its operations, deserves to be criticized and flooded with negative reviews everywhere possible – and even more frequently – so that no one falls victim to this scheme and surrenders their hard-earned money to it. It’s a guaranteed scam. The money deposited with this company can essentially be written off. There’s no evidence that LeoTradez even exists. The domain is new. Logically, one could assume that its operational history is also fabricated. In reality, this scam only started operating this year, or at most, the previous one. As for licenses – I’ve seen multiple instances online where people astutely argue that everything mentioned about regulation is fake information. I won’t repeat it, but I wholeheartedly agree, 100%. That’s the reality – LeoTradez is indeed operating illegally. However, what does it mean to operate when it lacks a legal entity? It essentially means it doesn’t operate at all. This is another reason why one should never, under any circumstances, get involved with this “broker.” Yes, it’s not a genuine intermediary; it’s a concocted, phony entity that doesn’t execute trades in the interbank market. Hence, trading with it is dangerous and unwise, as your gains are of no interest to this entity; it’s merely driving it into bankruptcy. Now, consider this – I’ve merely touched the surface of the many drawbacks associated with this broker. I’m simply too fatigued to continue elaborating, because in reality, you can uncover a plethora of negative signs and thoroughly expose fraudsters. I hope that people possess the intelligence to avoid falling for LeoTradez fabricated brokerage companies.