WikiFX Review: Something about LeoPrime- If you didn’t know, now you know.

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of LeoPrime based on the facts.

What is WikiFX？

To explore whether LeoPrime is a scammer or not, we evaluated LeoPrime from different aspects, such as regulatory status, exposure, etc.

1. Evaluate the reliability of LeoPrime based on its general information and regulatory status.

• A. General Information of LeoPrime

• B. Regulatory Status

2. The feedback from Twitter

3. Exposure related to LeoPrime on WikiFX

4. Special survey about LeoPrime from WikiFX

• A. Scoring Criteria

• B. Field Investigation

• C. WikiFX Alert

5. Conclusion

1. Evaluate the reliability of LeoPrime based on its general information and regulatory status

To understand LeoPrime better, we explore LeoPrime by analyzing three main perspectives:

A. General Info of LeoPrime

B. Regulatory Status

C. Fund Security

A. General Info of LeoPrime

LeoPrime s general info has been shown below:

(source: WikiFX)

About LeoPrime

According to LeoPrimes website, LeoPrime claimed itself to be a Multi-Asset Broker that accommodates a wide range of trading services, including-Custom solution & Ultra-fast execution. With years of gathered expertise, LeoPrime provides a user-friendly trading environment for the both retail and institutional clientele. The registered office of Leo Prime Services Limited is at G.S.Complex, 1st floor, Office Number 12, Providence, Mahe, Seychelles.

Market Instruments

LeoPrime provides investors with popular tradable instruments in the financial markets, mainly forex, indices, spot metals, cryptocurrencies, energy, etc.

Leverage

When it comes to the trading leverage, the trading leverage is up to 1:1000 for Classic and Cent accounts, 1:500 for Pro accounts, and up to 1:300 for ECN accounts.

Account Types&Minimum Deposit

LeoPrime offers traders four different accounts. They are ECN account($2,000 minimum deposit), Classic account ($10 minimum deposit), Pro account($1,000 minimum deposit), Cent account ($10 minimum deposit).

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

This broker uses the MT4 and the MT5 as its main trading platforms.

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.

B. Regulatory Status

What is Legitimate License？

• The legitimate license is the business license issued by the financial regulatory institution of each country/region.

• Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.

• Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.

• The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

The legitimate license of LeoPrime

LeoPrime is a regulated broker. It is regulated by The Seychelles Financial Services Authority (FSA) with license number SD032. However, please note that the official regulatory status of VanuatuVFSC with license number: 40322 is revoked.

(Source: WikiFX)

2. The feedback from Twitter

LeoPrime has an official Twitter account, which is registered in August 2017. As of June 9, 2022, It has 148 followers.

This user claimed that LeoPrime didnt pay the money that LeoPrime owe her for some unknown reasons.

3. Exposure related to LeoPrime on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts. As of June 9, 2022, WikiFX did not receive any exposure about this broker.

4. Special survey about LeoPrime from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

LeoPrime has been given by WikiFX a decent rating of 5.34/10.

(source:WikiFX)

According to the above, LeoPrime has a relatively low score on License and Regulatory. One of the reasons is that the FSA regulatory with license number: SD032 is an offshore regulatory

B. Field Investigation

• To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the brokers physical addresses.

• On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.

• As of june 9, 2022, WikiFX did not make an on-site survey on LeoPrime yet.

C. WikiFX Alerts

(source: WikiFX)

5. Conclusion:

LeoPrime is a regulated broker but the regulatory status is offshore. You need to be aware of the potential risks. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself. If you have any problems with this broker, please do not hesitate to contact WikiFX. The global customer service of WikiFX is +234-706 777 7762 on WhatsApp. Or you can call +65-31290538. We are willing and ready to help you out.

Click on LeoPrime's WikiFX page for details