Consider trading with Leisertrade forex broker? Why Leisertrade.com is a scam! Read Leisertrade review to know about this forex broker.
This content promises to share helpful review to support clients/traders in making the right decision.
Leisertrade FX also known as Leisertrade.com is an offshore brokerage company with a lot of promises for forex traders. The broker’s official address is shown as 32 Court Street, Brooklyn, NY 11201.
What is more, there are different account packages offered by the platform.
Additionally, the platform offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
See section below
Deposit and Withdrawal
Leisertrade Minimum Deposit:
Leisertrade deposit is shown as $100 to $2000 according to the account type. Although this seems to be a good offer to start with, clients and traders must be more interested in investing in a licensed brokerage where they are sure of their funds.
In contrast, the good thing about a licensed FX broker is that minimum deposit is made known to traders, and clients can start trading as low as $100 with no fear of their investment.
As for the payment methods, the brokerage presented different methods like Debit/ Credit cards, Wire transfer, Amex etc.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
On Leisertrade withdrawal, the broker shows different withdrawal fee — $50 wire transfer commission, and a $25 credit card plus a fixed $10 fee. Also, there is a 10% deduction on an inactive account of 6 months.
Leisertrade platform presented web based trader and Metatrader 4 (Industry standard trading platforms). What you must know is that, the claim to offer MT4 don’t make the broker genuine in the service because any scam broker can do the same to appear real and lure forex traders/ clients.
Why use advanced trader such as MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Leisertrade leverage is not known. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why Leisertrade.com Is A Suspicious Forex Broker
The US is the most heavily regulated environment in the world, and as a result of this the country has only a handful of very large brokers that are more like corporations at this point. Sadly, the address is false and absolutely unverified. First red flag, Leisertrade.com claimed headquarters in the US. Thus, when we searched the registers of NFA, US just to find out that Leisertrade is not a member.
What is more, the broker presented governance of Saint Vincent and the Grenadines laws. What you must know, Saint Vincent and the Grenadines does not have a license issuer, and therefore the broker has no way to be regulated there.
In addition, the platform does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Leisertrade Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Leisertrade located at Leisertrade.com claims to be a genuine trading broker, howbeit, that is not completely true. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Therefore, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Read earlier reviews on Fxglobe-china , Forextimeprime