FXLeader Review: Avoid Dealing With This Broker
FXLeader Review: Avoid Dealing With This Broker

Not only that this broker offers services offshore, but also offers them without a license. They are registered in St. Vincent and Grenadines under the name Leadernet OU.�

Even though they provide a UK-based phone number to reach out to, we believe that is just one of the misleading tactics of this bogus scammer. Nevertheless, we will do an in-depth analysis in our FXLeader review, and find all facts about why not to trade with this broker.

What is more, we strongly advise you not to invest in Valuta Markets, PrimeXBT, and InterCapital fraudulent brokers.

Broker status:Unregulated Broker
Regulated by:Unlicensed Scam Brokerage
Scammers Websites:Fxleader.com / fx-leader.com
Blacklisted as a Scam by:FCA, CONSOB, FMA, CBI
Owned by:Leadernet OU
Headquarters Country:St. Vincent and Grenadines
Foundation year:N/A
Supported Platforms:Web trader
Minimum Deposit:$250
Cryptocurrencies:Yes – BTC, LTC, ETH
Types of Assets:Forex, Cryptocurrencies
Maximum Leverage:1:200
Free Demo Account:No
Accepts US clients:No
Site Grid:N/A

Is FXLeader a Scam Broker Without License?

Since Saint Vincent and Grenadines don’t provide licenses for trading on FX and CFD markets, this broker can’t have that one. Therefore, we are looking for the most trusted Tier 1 regulators, such as FCA, BaFin and ASIC. For one thing, we are sure after checking their register. That is to say that the FXLeader broker is not on the list and it’s a complete scam.

FCA warning on FXLeader

As a non-regulated company with issued warnings against them and a lot of red flags, FXLeader is not attractive. There are very high leverage and variable spreads as well.

Reasons for Using a Regulated Broker for Trading

Traders are looking for regulated brokers primarily because of security. Another key point is trading conditions. Those are very strict and they should comply with ESMA and MiFID II regulations. Under those circumstances, you can’t get scammed because the authority is monitoring every activity of the broker.

Financial Watchdogs’ Red Flags and Warnings

Given these points, we are not surprised that many financial regulators already issued a warning against FXLeader trading company. Some of those are FCA (UK), CONSOB (Italy), FMA (Austria), and CBI (Ireland).�

In other words, if you were still considering investing with this broker, now you won’t. Without a doubt.

Trading Software Is Available On The FXLeader Platform

FXLeader Trading Platform

Point often overlooked is a trading platform. In this case, FXLeader only provides poorly designed web traders. That is, to say, the worst option for any experienced trader. Compared to an industry-standard MT4/MT5 or cTrader, this one is not even for beginners.

Firstly, they don’t provide a mobile version that makes your trading more effectively. They also don’t provide advanced trading features like EAs, social trading, copy trading or advanced indicators. Thirdly and most importantly, those are often manipulated by the broker and they can’t be trusted.��

Trader’s Reviews of FXLeader

Out of 35 comments on the Trustpilot customer experience platform, more than 35% were 1-star rated comments. Given that clients are mostly complaining about withdrawals and the reliability of the broker, we wouldn’t trust it either.�

We have already too many red flags with the FXLeader broker. Obviously, this is not where it ends.��

FXLeader Trading Instruments

Despite all the negative facts about FXLeader trading, we expected many more assets available. However, they only provide 2 different classes:

  • Forex – USD/SGD, EUR/NOK, EUR/JPY
  • Cryptocurrencies – BTC, ETH, XRP

With leverage up to 1:200, these are extremely dangerous. Regardless of the leverage and volatility of cryptos, if the broker is illicit, you can’t expect anything good.

FXLeader Service Countries

As can be seen in FXLeader reviews and research, they are scamming traders from:

  • United States
  • United Kingdom
  • South Africa
  • India
  • Pakistan

As much as regulators try to warn people about these scams, they somehow get scammed. With this in mind, don’t fall for cheap tricks and advertisements for easy money. That’s how they lure their clients into a swindler’s net.

FXLeader Account Types

Even though the minimum deposit requirement is only $250, we would never trust that money to a non-regulated broker. As can be seen on the FXLeader website, they don’t offer any specific account types.�

Whatever you decide to deposit above $250 would suit them fine. Ultimately, the goal is to extract as much money as they can before they vanish.

FXLeader Deposit and Withdrawal Policies

All things considered, we can’t expect this broker to comply with any policies. If they had, it would be perfect. However, this broker is so anonymous that they don’t provide any specific deposit or withdrawal policies. So, to deposit any money here would be a suicidal mission.

Payment Methods Available

Like most trading companies they accept bank transfers, cards, and e-transfers. On the contrary, they don’t accept any withdrawals with these methods according to FXLeader reviews. Many people had trouble with this broker when they request a withdrawal. Given that, you better start looking for the licensed broker on time.

FXLeader Terms & Conditions – What You Need to Know

Since this broker is offshore and non-licensed all conditions are questionable. Especially because of all mentioned warnings against them.�

Whatever they had as T&Cs they were violating those. For this reason, stay away from this broker and keep your money safe.

Leverage, Spreads, and Fees

Definitely, their trading conditions are nothing better than other facts about this broker. Leverage that goes up to 1:200 is against any rules and regulations.�

On top of that, non-existent fees and non-transparent variable spreads among other things are stopping us from trading with this broker. Think twice before investing any money with this broker.

What Should I Do If I Have an FXLeader Problem?

Although this broker is not-regulated and you don’t have the authority to look for it, you still have a solution. Our expert recovery team can assist you in fund recovery.�

Let us hear your story. You still might be entitled to a chargeback. Don’t let these scammers get out with your money. Contact us today for a free consultation!

FAQ

What Is FXLeader?

FXLeader is an offshore trading company that is scamming traders all over the world. Without transparent trading conditions, it’s not suitable for most traders.

Is FXLeader a Scam Broker?

Yes. Besides a lack of licensing, there are many issued warnings from financial regulators.

Is FXLeader Available in the United States or the UK?

As can be seen in FXLeader reviews they are scamming traders from both mentioned countries.

Does FXLeader Offer a Demo Account?

No. Besides all the negative facts this broker doesn’t even specify live trading accounts.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Comment link copied