Local Financial Forex Broker

Local Financial Review SummaryFounded2020-11-27Registered Country/RegionUnited KingdomRegulationUnregulatedMarket InstrumentsForex/Stocks/Indices/Cryptocurrencies/Precious Metals/CommoditiesDemo Account❌LeverageUp to 1:500SpreadAs low as 0.1 pointsTrading PlatformMT5(Windows/MAC/Android)Min DepositFrom 0Customer SupportEmail: Support@localfinanaial.ltdOnline ChatLocal Financial Information Local Financial is a broker. The tradable instruments, providing standard and ECN with a maximum leverage of 1:500, include forex, stocks, indices, cryptocurrencies, precious metals, and commodities. The minimum spread is 0.1 points and the minimum deposit is 0. Local Financial is still risky due to its unregulated status, high leverage, and bad reviews about difficulty withdrawing money.Pros and ConsPros Cons 24/5 customer supportUnregulatedVarious instruments: forex, stocks, indices, etc.Negative comments about lossesMT5 availableNo specific cost informationLeverage up to 1:500Is Local Financial Legit? Local Financial is not regulated, which makes it less safe than regulated brokers.What Can I Trade on Local Financial? Traders can choose different investment directions because the broker provides forex, stocks, indices, cryptocurrencies, precious metals, and commodities.Tradable Instruments Supported Forex✔Commodities✔Stocks✔Cryptocurrencies✔Precious Metals✔Indices✔ETFs❌Bonds❌Mutual Funds❌Account Type Local Financial has standard and ECN accounts. Traders who want low spreads can open an ECN account.Account Type StandardECNMinimum spread1.3 points0.1 pointsNegative balance protectionYesYesLocal Financial Fees The spread is as low as 0.1 points.Leverage The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.Trading Platform Local Financial has an authoritative MT5 trading platform for Windows, MAC, and Android. Compared with MT4, experienced traders prefer MT5.Trading PlatformSupported Available Devices MT5✔Windows/MAC/AndroidDeposit and Withdrawal The minimum deposit is 0. However, payment methods and associated fees are unspecific. Some traders said that Local Financial was unable to withdraw cash.Customer Support Options Local Financial provides 24/5 customer support, and traders can contact Local Financial via live chat and email instead of the phone, which is unable to communicate with customers in time to solve efficiently emergencies.Contact Options DetailsEmail Support@localfinanaial.ltdOnline Chat ✔Supported Language EnglishWebsite Language EnglishPhysical Address Not mentioned