LeveledUpSociety – What To Expect From Proprietary Firms
LeveledUpSociety is a proprietary firm on the rise. The website started actively offering their services sometime during 2022. It’s been over a year now since the company has first started their journey through the congested online world of trading and investing.
So far, their conduct seems to be somewhat successful, however, there appear to be problems every now and then and the clientele isn’t overly satisfied. Our LeveledUpSociety review investigates the reason behind the dissatisfaction of a portion of clients and what is exactly expected of each trader if they wish to join this site.
|Regulated by:||No regulation expected by law|
|Is This Company Safe?||Although license isn’t required, caution is advised|
|Have Warnings from:||N/A|
|Trading Platforms:||MT4, MT5|
|Deposit Bonus:||Not available|
|Trading Assets:||Forex, Crypto, Oils, Metals|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||If you’re having troubles while trying to withdraw funds, refer to our legal team for help!|
How It Works
As a proprietary firm, the purpose of LeveledUpSociety is to give a push to those traders that have the talent and the necessary skills, but not the funds to invest. However, no one will just give you a bunch of money and expect nothing in return.
To become eligible for a funded account at LeveledUpSociety each trader first has to pass an evaluation phase. There’s two test phases and both of them have goals to be reached without time limitation.
After the potential client successfully passes the evaluation, they can open a funded account. The sum received can go up to $1 000 000 and the profit split is 80/20. Now let’s discuss the particularities.
The Evaluation Phase
When planning on showing off your trading abilities to become eligible for a funded account, you have to pass an evaluation phase. There’s two types of the phase:
- One Phase Challenge
- Two Phase Challenge
If you choose the One Phase Challenge, you have to trade for a minimum of 1 day, during an unlimited period of time, or until you reach the goal. Task is to achieve 10% profit, with the minimum virtual fund of $10 000. The refundable fee is $109. Maximum daily loss is 3.5% and the maximum total loss is 6%.
By choosing the Two Phase Challenge, the refundable fee you pay is at least $89. You then trade for a minimum of 5 days, and reach the target of 8% profit during the 1st phase. The 2nd phase requires a target of 5% achieved during 5 trading days with no fee.
Funded Accounts At LeveledUpSociety
Lets say that you’ve shown the required knowledge and Forex trading skills to pass the testing period. After passing the evaluation, you can become a full time trader. Since there’s a single trading account at the LeveledUpSociety website, you can just choose between the amounts you want to be funded with. Here’s what the borrowed funds can be:
Besides that, LeveledUpSociety leadership performs a quarterly scan and can increase your account balance by an additional %25 if your trading has been successful enough. Also, One Step Challenge Program participants can enjoy a 90% split profit in case they’ve been making an average profit higher than 15%.
LeveledUpSociety mentions the possibility of accounts funded with up to $1 000 000, but they do not reveal all the details and rules pertaining to that offer.
Who Uses The LeveledUpSociety Services?
Most of the traders looking for the support of prop firms do not have the investment power like the investors looking for brokerage services. However, prop firms clients have the knowledge and skills needed and that’s what distinguishes them for beginners. Proprietary firms attract skilled traders because they offer potentially high capital available for trading and that attracts experienced traders.
LeveledUpSociety is a US firm, so it’s only natural that their focus is on US traders. The following list shows countries where this company is most active:
- United States
- United Kingdom
Traders’ Experiences With LeveledUpSociety
Out of over a thousand reviews at TrustPilot, the average rating for LeveledUpSociety is only 3.6, so we investigated the reasons. It seems that an increasing number of users are complaining about the withdrawal issues. From what the testimonies say, the firm is having difficulties during payouts, so the clients aren’t able to cash in their profit:
“Refused to payout and Banned me. I first was funded with Level up back in December and got a payout in January. Now in June after making 6% on the one step funded account they refuse to pay and they banned me clamming due to KYC violations. Worst part they won’t clarify what violation I made.”
“I just want my money back and they don’t want to pay me. HUGE spread, terrible customer service. DO NOT BUY CHALLENGES IN THIS PROP.”
Leverage, Commissions, Spreads, Fees and Taxes
Leveraged trading on several financial instruments groups is a bit difficult to distinguish. LeveledUpSociety doesn’t provide clarification on the exact trading costs before you sign up for the evaluation.
However the leverage available is up to 1:100 for Forex, 1:40 on Gold and Commodities, 1:20 on Indices, and 1:2 on digital currencies.
Trading Platforms Available
The trading platform advertised at LeveledUpSociety is EightCap software. This platform is known for its tools like automated trading, complex analytical analysis, smart notifications and strategies based on loops. However, accessing the platform is not an option without an account.
Apparently, only existing traders can access it. That has left us wondering why the site isn’t more transparent about the most crucial aspect of successful trading. With AMP Global, you won’t face such problems.
Available Trading Assets
LeveledUpSociety has a somewhat weak offer of tradable products available. Especially compared to the rich offers that acclaimed brokers have. Here’s how these instruments are sorted at LeveledUpSociety:
- Forex (EUR/USD, EUR/CHF, USD/GBP, USD/JPY)
- Oils (US Brent Oil, UK Oil)
- Metals (Gold, Silver)
- Crypto (BTC, EHT, LTC, ETC, XRP)
The LeveledUpSociety scheme can help you earn extra income. If you sign up for their affiliate campaign, you could refer their service to others and earn. It is also based on the trading skills of your referrals. The more they’re capable of accumulating profit, the bigger your passive income.
However, what we found suspicious, is that LeveledUpSociety doesn’t have a separate document explaining how the program works. You can’t access the info about it on the website either, unless you’re an existing customer.
The LeveledUpSociety withdrawals aren’t covered by a transparent withdrawal policy. All that the website says is that you will have all the information needed on your user dashboard. Another suspicious lack of transparency that makes you trust this firm less.
Moreover, there’s no clear info about any possible withdrawal fees and transaction methods, which are crucial. A single detail published on the website is that the profit becomes eligible for withdrawal after 30 days since the first trade was placed.
The ways of getting in touch with LeveledUpSociety support are:
- Online form
- Site chat
Another reason to be cautious about this website is the slow access to the client service. We’ve tried all three of these channels and none of them proved useful or operational at all. We’ve gotten no answer to any of the inquiries.
The email was never replied to and the online chat agent first said hello after several hours but never responded to our question. We can’t rate such irresponsible behavior any other way than negative. Completely different experience happened with AFX.
Key Points About LeveledUpSociety
After carefully analyzing their website, we detect a lack of transparency from LeveledUpSociety. Although their offer may seem attractive, much vital information is only allegedly available to site users. Customer support is unresponsive and utterly useless. Besides, a significant number of traders are reporting LeveledUpSociety for their bad processing of withdrawals or locking clients’ funds.
If you’re struggling with any of the problems above, please feel free to contact us anytime. Our legal experts have the knowledge and experience needed to help you out with just about any issue.
What Is LeveledUpSociety Minimal Deposit?
The minimum amount to invest is $89, which is refundable.
Does LeveledUpSociety Have a Welcome Bonus?
No, the website doesn’t mention such privileges.
Should I Invest In LeveledUpSociety?
If you’re an experienced trader you can consider investing, but beware of the possible withdrawal issues. If that happens, contact our team of professional money recovery attorneys.