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• Our Review Method

• Is FXLeader Scam or Legit Broker?

• What is FXLeader?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding FXLeader due to the issues we've identified.

Is FXLeader Scam or Legit Broker? ▲

FXLeader has been conclusively identified as a fraudulent entity. The brokerage is incorporated offshore, specifically in St. Vincent and the Grenadines, and alarmingly lacks any form of authorization from a globally recognized financial regulatory body. The absence of a legitimate license is a glaring red flag indicating that FXLeader is not a safe option for traders. Our extensive research, covering over 1000 brokers, consistently highlights the peril associated with engaging with offshore brokers. The financial services provided by such entities lack reliability and integrity, making them untrustworthy.

• Registered in: St. Vincent and the Grenadines

• Type of License: Offshore License

• Is FXLeader safe to trade: No

• Recommended Licenses: FCA in UK & ASIC in Australia

Given the significant risks posed by offshore brokers, we strongly dissuade traders from investing their funds with FXLeader. Instead, we advise seeking brokers that are regulated by reputable authorities, such as the UK's Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC). These regulatory bodies enforce stringent requirements and offer a level of customer protection that offshore jurisdictions simply cannot match.

What is FXLeader? ▲

FXLeader operates under the umbrella of Leadernet OU, a company based in Tallinn, Estonia. Despite its European presence, FXLeader falls short of obtaining regulation from the Estonian Financial Supervisory Authority. The broker's terms and conditions reference FXLEADER LTD., situated in the notorious offshore zone of Saint Vincent and the Grenadines. This location is favored by brokers seeking to minimize operational costs and evade stringent regulatory oversight, at the expense of investor protection.

The lack of focus on customer protection in offshore zones is a significant concern for traders. Additionally, the Financial Conduct Authority (FCA) in the UK has issued a warning against FXLEADER, further emphasizing the need to steer clear of this broker. The importance of trading with brokers regulated by authoritative bodies like the FCA cannot be overstated. Such regulators mandate substantial capital reserves (for instance, the FCA requires EUR 125,000 for the STP license) and provide safeguards for customers in the event of a financial firm's failure.

Conclusion ▲

In conclusion, our advice to traders is unequivocal: opt for a trading account with brokers that are under the oversight of reputable global authorities. These regulators enforce a comprehensive set of rules and have a solid reputation for ensuring operational integrity over time. Trading with well-regulated brokers, such as those in the UK or Australia, offers a level of security and peace of mind that entities like FXLeader simply cannot provide.

FXLeader Update: Our latest findings indicate that the FXLeader website is no longer active. This development underscores the importance of prioritizing the safety of your funds in the forex market. We urge traders to avoid any engagements with FXLeader and to remain vigilant against potential scams.