Thinking of getting into business with Leuminvest? Here is what you must know about this broker. Carefully read this review to find out if leuminvest.com is the trading platform you will want to trade with.
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About Leuminvest Broker
Leuminvest is an offshore brokerage company with a lot of promises for traders. The broker is operated by LEUMI OVERSEAS TRUST CORPORATION LIMITED with an address showing — St Helier, Jersey.
There are different account types the broker offers. See below.
To clarify, in spite the trading instruments Leuminvest claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
leuminvest.com: Reasons to Avoid This Broker
Firstly, leuminvest.com is a platform with no financial authority overseeing its financial services. We cannot under-play the importance of regulation as this broker shows less concern about that, therefore, it is a risk to deposit funds with Leuminvest.
Secondly, we noticed leuminvest.com has no demo account for traders. Since traders can’t test Leuminvest on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons 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.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Leuminvest leaves us with the following information: $50 fee for Wire Transfers; $25 for Credit cards added with $10 processing fee; $25 for other online payment options.
The processing time for any withdrawal is 5 to 7 days.
The broker charges 10% on each month on a dormant account of 6 months.
Minimum Deposit
Leuminvest specifies its minimum deposit as $250 according to the type.
As for the payment methods, the broker accepts Debit/Credit cards and Wire Transfer. But, you should not consider making any payment with this broker because it is a risk. So beware!
Leuminvest Platform
Leuminvest offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, it can get up to 1:300. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Leuminvest 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 that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is leuminvest.com a Reliable Broker?
No, leuminvest.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.