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LevelTrade Forex broker specializes in providing foreign exchange trading services, the company's official website https://leveltrade.c..., the company's legitimate regulatory information to enhance the security of the company's address

LevelTrade Forex Broker

Basic Information

Registered Region

Dominic

Operating Period

Company Name

LevelTrade.

Abbreviation

LevelTrade

Company employee

Customer Service Email Address

support@leveltrade.co

Contact Number

+176774950498600

Company Website

https://leveltrade.co/

Keywords

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Regulation No Regulation Market Instrument 400+ assets: currency pairs, popular shares, precious metals and commodities Account Type Easy start, Standard, Trader, Pro Trader, Premium and VIP Demo Account N/A Maximum Leverage 1:200 Spread Standard: fixed/floating 15% | Trader: 30% | Pro Trader: 45% | Premium: 60% | VIP: 75% | EUR/USD: 3 pips Commission N/A Trading Platform MT4/Web Minimum Deposit $250 Deposit & Withdrawal Method Credit/charge cards and Bank/Wire Transfers LevelTrade presents itself as an online trading broker founded in 2021 and registered in Dominic, claiming to provide its clients with various tradable financial instruments with leverage up to 1:200 and fixed/floating spreads on the MT4 and web-based trading platforms via 6 different live account types. Here is the home page of this brokers official site: As for regulation, it has been verified that LevelTrade currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.25/10. Please be aware of the risk. Market Instruments LevelTrade advertises that it offers access to more than 400 trading assets, including currency pairs, popular shares, precious metals and commodities. Account Types LevelTrade claims to offer 6 types of trading accounts - Easy start, Standard, Trader, Pro Trader, Premium and VIP, with minimum initial deposit requirements of $250, $2,500, $10,000, $25,000, $50,000 and $250,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Leverage The leverage provided by LevelTrade is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads All spreads with LevelTrade are fixed or floating type and scaled with the accounts offered. For example, fixed and floating spreads of 15% on the Standard account, 30% on the Trader account, 45% on the Pro Trader account, 60% on the Premium account and 75% on the VIP account. As tested on the Webtrader, the EUR/USD spread is 3 pips. Trading Platform Available The platform available for trading at LevelTrade is one of the most notable and preferred trading platforms the market offers - MetaTrader4 and a web trader. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal LevelTrade says to work with Credit/charge cards and Bank/Wire Transfers. The minimum initial deposit requirement is said to be $250. According to the terms, it states that it will take up to 5 business days for the saved assets via Bank/Wire Transfer to show up on your exchange account. Bonuses & Fees LevelTrade claims to offer a bonus on deposit, which varies depending on the account type. For instance, the bonus on deposits is up to 10% on the Easy start account, 25% on the Standard account, 35% on the Trader account, 50% on the Pro Trader account, 75% on the Premium account and 100% on the VIP account. However, the bonus cant be withdrawn easily due to some limits, as the below screenshot shows. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators. The broker also charges a Torpid Fee. If you didn't log in and exchanged from your record within 6 months, your account becomes dormant and will be dependent upon a derivation of 10 % every month. Customer Support LevelTrades customer support can be reached Mon - Fri: 9 am - 9 pm by telephone: +1767 74950498600, email: support@leveltrade.co, compliance@leveltrade.co or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and LinkedIn. Company address: 8 Copthall, Roseau Valley, 00152, Commonwealth of Dominica. Pros & Cons Pros Cons • Multiple asset classes and account types offered • No regulation • MT4 supported • High minimum deposit ($250) Frequently Asked Questions (FAQs) Q 1: Is LevelTrade regulated？ A 1: No. It has been verified that LevelTrade currently has no valid regulation. Q 2: At LevelTrade, are there any regional restrictions for traders？ A 2: Yes. LevelTrade does not provide its services to citizens and residents of the following countries: Afghanistan, USA, France, Ukraine, and UAE. Q 3: Does LevelTrade offer the industry-standard MT4 & MT5？ A 3: Yes. LevelTrade offers MT4 and a web trader. Q 4: What is the minimum deposit for LevelTrade？ A 4: The minimum initial deposit to open an Easy start account is $250, while $2,500 for the Standard, $10,000 for the Trader, $25,000 for the Pro Trader, $50,000 for the Premium and $250,000 for the VIP. Q 5: Does LevelTrade charge a fee？ A 5: Like every forex broker, LevelTrade charges a spread fee. It also charges a Torpid Fee (Dormant Fee). Q 6: Is LevelTrade a good broker for beginners？ A 6: No. LevelTrade is not a good choice for beginners. Although it offers the leading MT4 trading platform, it lacks legitimate regulation and its minimum deposit is unfriendly for beginners ($250).

LevelTrade broker review

Is LevelTrade safe or scam

Rating Index

LevelTrade Forex Broker - Complete Information Guide

1. Broker Overview

　　LevelTrade is an online trading broker owned by Lollygag Partners Ltd., which is registered in the Commonwealth of Dominica. The company operates without a formal regulatory license, making it an offshore broker. LevelTrade primarily targets retail clients interested in trading forex and CFDs (Contracts for Difference). Since its inception, the broker has positioned itself in the volatile forex market, attracting traders with the promise of high leverage and low minimum deposits.

　　The broker's headquarters is located at 8 Copthall, Roseau Valley, 00152, Commonwealth of Dominica. As a private entity, it does not disclose extensive information about its ownership or management team, which raises concerns about transparency and accountability. The absence of a regulatory framework further complicates the trustworthiness of this broker.

　　LevelTrade has developed a reputation for being part of a larger network of unregulated offshore brokers, often associated with dubious marketing practices. This affiliation with other brokers under Lollygag Partners Ltd. has led to a significant number of complaints and negative reviews from users, indicating potential risks for investors.

　　The business model of LevelTrade focuses on retail forex trading, offering a variety of trading instruments, including currency pairs, commodities, and cryptocurrencies. However, the lack of regulatory oversight and the associated risks have made many potential clients wary of engaging with this broker.

2. Regulatory and Compliance Information

　　LevelTrade operates in an unregulated environment, which is a significant concern for potential investors. The broker is not licensed by any major financial regulatory authority, such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), or the Australian Securities and Investments Commission (ASIC). This lack of regulation means that there are no legal frameworks governing its operations, which can expose clients to various risks, including the potential loss of funds.

　　Due to its location in Dominica, a jurisdiction known for its lenient regulatory requirements, LevelTrade does not have the necessary oversight to ensure the safety of client funds. There are no segregated accounts for client deposits, meaning that investor funds may not be protected in the event of the broker's insolvency.

　　Furthermore, LevelTrade does not participate in any investor compensation schemes, which are often provided by regulated brokers to protect clients in case of financial difficulties. The absence of a robust Know Your Customer (KYC) and Anti-Money Laundering (AML) policy also raises concerns about the security and legality of its operations.

3. Trading Products and Services

　　LevelTrade offers a range of trading products, primarily focusing on forex and CFDs. The broker provides access to a selection of forex currency pairs, although the exact number is not specified. Among the major currency pairs, clients can expect to trade popular options like EUR/USD, GBP/USD, and USD/JPY.

　　In addition to forex, LevelTrade also provides trading opportunities in various CFD categories, including indices, commodities, stocks, and cryptocurrencies. However, the specifics regarding the number of available CFDs and the frequency of product updates are not clearly outlined, leaving potential traders without vital information.

　　The broker claims to offer retail trading services, but it lacks transparency regarding its institutional client services or any white-label solutions. There is no mention of asset management services, which could be a drawback for investors looking for comprehensive trading solutions.

4. Trading Platforms and Technology

　　LevelTrade provides access to the MetaTrader 4 (MT4) platform, which is widely recognized in the trading community for its robust features and user-friendly interface. In addition to MT4, the broker also offers a proprietary web-based trading platform. However, the proprietary platform is noted to be lacking in features compared to MT4, particularly in automated trading capabilities.

　　The broker supports mobile trading through applications available on both iOS and Android, allowing traders to manage their accounts and execute trades on the go. The execution model employed by LevelTrade is not explicitly stated, which raises questions about whether it operates as an ECN, STP, or Market Maker.

　　LevelTrade's technical infrastructure, including server locations and overall technology stack, is not disclosed, making it difficult for potential clients to assess the reliability and performance of its trading services. There is also no information regarding the availability of API access or support for automated trading strategies.

5. Account Types and Trading Conditions

　　LevelTrade offers several account types to cater to different trading preferences. The standard account requires a minimum deposit of $250, with spreads starting at 3 pips. However, details regarding commissions are not provided.

　　The broker also lists advanced account types, including VIP and professional accounts, which typically require higher minimum deposits and may offer better trading conditions. For example, the VIP account may require a deposit of $250,000 and could provide additional benefits such as lower spreads and more personalized service.

　　There is no indication that LevelTrade offers specialized accounts, such as Islamic accounts or corporate accounts. The broker does provide a demo account option for traders to practice their strategies without risking real capital.

　　Leverage offered by LevelTrade can go up to 1:100, which is higher than what many regulatory authorities deem appropriate for retail traders. The minimum trade size is not explicitly stated, and information regarding overnight fees or swap rates is also not provided, leaving traders without essential details for managing their trading costs.

6. Fund Management

　　LevelTrade supports a limited range of deposit methods, primarily focusing on cryptocurrencies. This restriction raises concerns, as cryptocurrency transactions are generally irreversible, making it difficult for clients to recover funds once deposited. The minimum deposit requirement varies by account type, with the standard account starting at $250.

　　The processing time for deposits is not explicitly mentioned, which can lead to uncertainty for clients looking to fund their accounts quickly. Information regarding deposit fees is also sparse, adding to the overall lack of transparency in the broker's operations.

　　Withdrawals from LevelTrade are subject to unspecified restrictions, with processing times potentially taking up to seven business days. The absence of clear withdrawal fees and conditions further complicates the financial relationship between the broker and its clients.

7. Customer Support and Educational Resources

　　LevelTrade provides multiple channels for customer support, including email and phone. However, the availability of live chat or social media support is not mentioned, which may limit immediate assistance for traders facing issues. The support team can be reached via the email addresses support@leveltrade.co and compliance@leveltrade.co.

　　The broker's service hours and time zone coverage are not clearly outlined, which could lead to delays in support responses. While LevelTrade claims to offer support in multiple languages, specific languages available are not detailed.

　　In terms of educational resources, LevelTrade offers limited materials, which may include basic tutorials or market analysis. However, the absence of comprehensive resources such as webinars, eBooks, or in-depth market research reports may hinder the ability of traders to enhance their skills and knowledge.

8. Regional Coverage and Restrictions

　　LevelTrade primarily serves clients from various regions, but specific details regarding its main service markets are not provided. The broker's operations are based in Dominica, which is known for its lenient regulatory environment.

　　However, due to its unregulated status, LevelTrade may not accept clients from certain countries, particularly those with stricter financial regulations. The specific countries or regions where LevelTrade does not operate are not disclosed, leaving potential clients uncertain about their eligibility to open accounts with the broker.

　　In summary, while LevelTrade presents itself as a trading platform with various offerings, the lack of regulation, transparency, and comprehensive support raises significant concerns for potential investors. Caution is advised when considering engagement with this broker, as the risks associated with unregulated entities can be substantial.