Levels Forex Broker provides real users with 1 positive reviews, * neutral reviews and 1 exposure review!
Software Index
License
scam, can not make withdrawal
Their platforms are user-friendly, and I appreciate the transparency with no hidden fees. The customer support is responsive, and the security measures, like negative balance protection, give me peace of mind while trading. Overall, a trustworthy platform for my trading needs.
Levels, an offshore forex broker, has garnered significant negative attention due to its lack of regulation and transparency. User experiences indicate a high risk of financial loss, and experts strongly advise against engaging with this broker. Notably, the Financial Conduct Authority (FCA) in the UK has issued warnings regarding its operations, highlighting the potential dangers for traders.
Attention: It is crucial to note that the broker operates across various jurisdictions, which can complicate the regulatory landscape. This review aims to provide a fair and accurate assessment based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 2 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
We assess brokers based on user feedback, expert opinions, and factual data from various sources.
Established in 2023, Levels operates without regulatory oversight and claims to offer a variety of trading instruments, primarily focusing on forex. The broker provides access to the MetaTrader 5 (MT5) platform, which is known for its advanced trading capabilities. However, the absence of a legitimate regulatory body raises concerns about fund security and ethical trading practices.
Regulated Geographic Areas/Regions:
Levels does not have a valid regulatory license and operates primarily as an offshore broker, which significantly increases the risk profile for potential traders. The lack of oversight means clients have no recourse in case of disputes or financial losses.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The broker supports a range of payment methods, including bank transfers, credit cards, and e-wallets like PayPal and Skrill. However, specific details regarding transaction fees and processing times are often unclear or unavailable.
Minimum Deposit:
Levels requires a minimum deposit of $100, which is relatively accessible compared to other brokers. However, this low entry point does not compensate for the lack of regulatory protection.
Bonuses/Promotions:
There is no substantial information regarding bonuses or promotions offered by Levels, which is common among unregulated brokers. This absence raises further red flags regarding the broker's legitimacy.
Tradable Asset Categories:
Levels primarily offers forex trading, with limited access to other asset classes like stocks and commodities. This narrow focus can be limiting for traders looking for diversification.
Costs (Spreads, Fees, Commissions):
The broker claims to offer low spreads and no commission charges, but specific details are often unspecified. This lack of transparency can lead to unexpected costs during trading.
Leverage:
Levels advertises high leverage options, reportedly up to 1:1000, which can be appealing to traders. However, such high leverage also increases the risk of significant losses, particularly in an unregulated environment.
Allowed Trading Platforms:
The primary trading platform is MetaTrader 5 (MT5), known for its advanced features. However, the lack of additional trading tools or resources diminishes the overall trading experience.
Restricted Regions:
Levels operates without clear restrictions, but its unregulated status may pose risks for traders in certain jurisdictions, particularly those with stringent financial regulations.
Available Customer Support Languages:
Customer support options are limited, and the responsiveness of the support team has been questioned in user reviews. The primary language of support appears to be English, but specific details on language availability are sparse.
| Category | Rating (out of 10) | Detailed Breakdown |
|---|---|---|
| Account Conditions | 3 | Minimum deposit is low, but no regulatory protection. |
| Tools and Resources | 2 | Limited educational resources and tools for traders. |
| Customer Service and Support | 2 | Reports of unresponsive customer service. |
| Trading Setup (Experience) | 3 | MT5 platform available, but lacks additional features. |
| Trustworthiness | 1 | Unregulated status raises significant concerns. |
| User Experience | 2 | Negative user feedback regarding withdrawal issues and transparency. |
Account Conditions: The minimum deposit of $100 is appealing, but the absence of regulatory oversight severely limits the attractiveness of the account offerings.
Tools and Resources: Levels lacks robust educational resources and trading tools, making it difficult for traders to make informed decisions.
Customer Service and Support: User feedback indicates that customer service is often unresponsive, which can be detrimental for traders needing assistance.
Trading Setup (Experience): While MT5 offers advanced trading capabilities, the overall experience is hampered by the broker's lack of transparency and support.
Trustworthiness: The absence of a regulatory license is a major concern, with experts strongly advising against trading with Levels.
User Experience: Overall user experiences have been largely negative, with many complaints about withdrawal issues and the broker's transparency.
In conclusion, Levels presents a high-risk trading environment due to its lack of regulation and transparency. Potential traders should exercise extreme caution and consider more established, regulated brokers to ensure the safety of their investments.
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