Leeloo Trading Review 2024
Website: www.leelootrading.com
Min. Deposit: US$ 150
Leverage: —
Trading Platforms: NinjaTrader, Rithmic
Regulation: USA
Headquarters: USA
Founded: 2019
Regulatory Licenses:
- Natural Trading, LLC — registered in USA company number C1055873
Updated on February 2, 2024
Quick Links
In our quest to deliver an accurate and comprehensive review of Leeloo Trading, we employed a meticulous approach that involved a deep dive into the services provided by this forex broker. Our methodology included a comparison of Leeloo Trading against a list of 1000 brokers, focusing on key metrics such as fees, spreads, commissions, platform offerings, and customer service standards. To ensure the reliability of our review, we gathered data from various sources, including user testimonials, industry forums, and direct interaction with the broker. This multi-faceted approach enabled us to provide a well-rounded perspective on Leeloo Trading, ensuring that our recommendations and critiques are based on thorough research and analysis.
What is Leeloo Trading?
Leeloo Trading is a proprietary trading firm that provides evaluation accounts for traders aiming to prove their prowess in the market. Operating on a performance-based trading and contest model, it allows traders the opportunity to earn real money through their trading skills. The firm offers a variety of funded account sizes, ranging from $25,000 to $300,000, and caters to different types of accounts. As a prop trading firm, Leeloo Trading presents a unique opportunity for traders to engage in actual trading activities with minimal initial investment. To access the company's funds for trading, individuals must successfully pass a test or challenge, positioning them to operate as professional traders. However, it's crucial to acknowledge certain risks associated with this trading approach. For a more detailed exploration of proprietary trading and its inherent risks, our article on Prop Trading provides extensive information.
Pros
Lower profit target
Good pricing structure
Wide variety of balances with low registration fees
Profit share from challenge
Refundable fee once you become a funded trader
Broad range of challenge models
Free trial offer
Cons
No strict oversight mechanism
Challenges in becoming a funded trader
Limited range of tradable instruments
Absence of the MetaTrader platform
Is Leeloo Trading Legitimate?
Leeloo Trading is recognized as a legitimate entity, based on positive user reviews and feedback that highlight satisfactory experiences with its trading services and customer support. As it operates within the United States, Leeloo Trading adheres to a stringent regulatory framework. However, it's important to note that proprietary (prop) trading firms like Leeloo Trading are not subject to the same level of regulatory oversight as traditional forex brokers. This difference means that while they offer unique trading opportunities, they may not provide the same regulatory protections, making it crucial for traders to understand the potential risks involved in engaging with such firms.
Leeloo Trading Evaluation Process ▲
Our comprehensive review of Leeloo Trading delves into their evaluation process for traders aspiring to manage a funded trading account. This process includes a series of steps: selecting an appropriate account type, completing a minimum of 10 trading days, achieving specific trading objectives such as profit targets and drawdown limits, and adhering to flexible trading rules, including the possibility of holding positions overnight. Successful navigatiion through these steps qualifies a trader for a funded account, with options to continue at the same account size or opt for a different arrangement.
Before engaging with Leeloo Trading, traders must select an account balance for which they wish to qualify, with each account type presenting different challenge conditions and associated registration fees. Leeloo Trading's fee structure and account balance requirements are competitively priced, starting lower than many of its competitors. For example, the Aspire Account offers a $25,000 balance for a $150 monthly fee, whereas the Cruise Account provides a $150,000 balance for a $305 monthly fee. A special mention goes to the Express Account, which for a $100,000 balance, charges a $77 fee for a 14-day period, potentially refundable upon successful completion of its conditions.
Profit Targets and Loss Limits ▲
Across most account types, Leeloo Trading sets a profit target of approximately 6% of the account balance. This target is consistent across various accounts, including the Express, Aspire, Launch, Climb, Cruise, and Burst accounts. Conversely, the maximum loss limits are defined as a percentage of the account balances and vary by account type. For example, the Express Account has a 3% maximum loss limit, whereas the Aspire Account's limit is set at 6%. It's imperative that all set rules are adhered to during the challenge stage; failure to comply results in the cancellation of the test, necessitating a reset and the payment of another fee to reattempt the challenge from the beginning.
Free Trial and Platform Exploration ▲
Leeloo Trading offers newcomers a 14-day free trial of their practice accounts. This trial period provides an invaluable opportunity for traders to navigate through the platform and understand its features without the financial risk of real money trading. It serves as an excellent preliminary step for traders to become acquainted with Leeloo's trading environment prior to committing to a paid account.
After successfully completing the evaluation challenge, traders are granted their Funded Account, which is typically activated within a few business days. The conditions and balance of this funded account align with those of the account utilized during the testing phase. Should a trader aspire to upgrade to a higher-grade account, they are required to undergo and successfully pass the evaluation process anew, starting from the beginning, for the desired account balance level.
Profit Split
Leeloo Trading employs a distinctive profit-sharing scheme. Initially, traders retain 100% of the profits from their first $8,000 earned. Once this threshold is surpassed, the profit split transitions to an 80/20 ratio in favor of the trader for the subsequent year, and then it further improves to a 90/10 split after 12 months. This profit-sharing model stands as one of the more generous arrangements within the industry.
For Account Conditions, we meticulously examine whether the Broker provides various account preferences, as well as what Platforms, Instruments, and Trading Costs are applicable. It is also crucial to assess Leverage levels and Trading conditions offered, since some Brokers may impose restrictions on certain strategies and do not allow specific practices in Funded accounts, which could result in the loss of the Account. Consequently, to regain it, you would need to pass the test again. See the detailed breakdown below:
Trading Instruments
Leeloo Trading exclusively focuses on futures trading, providing access to a wide range of futures contracts across diverse markets such as equity indices, interest rates, currencies, agriculture, energy, and metals. This specialization enables traders to access a broad spectrum of futures products. It is important to note, however, that Leeloo does not facilitate trading in other types of financial instruments like stocks, options, or foreign exchange.
Leeloo Trading Commission
Leeloo Trading imposes commissions on both practice and performance accounts. These commission rates vary based on the traded products and the trading software employed.
Leverage
Leeloo Trading does not provide its traders with leverage. Traders operate with their own capital, devoid of the added leverage that is typically offered by some trading firms. This approach serves to mitigate the risk of potential losses surpassing the deposited capital.
Leeloo Trading App Platform
Leeloo Trading avails multiple trading platforms, including NinjaTrader 7 and 8 with SIM license keys provided by Leeloo, Rithmic Pro with complimentary access, and EdgeProX, which is compatible across Mac, Windows, and Linux platforms.
Trading Conditions
Leeloo Trading has thoughtfully designed its trading conditions to foster a fair and structured trading environment. These conditions afford traders the opportunity to both profit and advance in their trading careers. Leeloo Trading permits popular trading styles such as News Trading, Swing Trading, EA Trading, and Weekend Holding. Traders can also take advantage of Copy Trading among Leeloo Trading accounts. Nonetheless, there are restrictions in place for High-Frequency Trading, Latency Trading, and Arbitrage. Slippage is typically minimal, but during News Trading, the company restricts trade execution 5 minutes prior to and following news releases to avert potential slippage.
Leeloo Trading Promotions
Leeloo Trading intermittently offers discounts with Leeloo Trading coupon codes for trading discounts, including Reset Discounts. These promotions are generally temporary, thus it’s advisable to check for current offers when signing in.
Payout and Withdrawals
Payouts are typically processed on the 15th of each month and generally take about 5 working days to clear. This implies that if a request is made post the 15th, the payout will be carried over to the subsequent month.
Withdrawal Method
The options for withdrawal include paper check, bank transfer, or PayPal, with no fees imposed for withdrawals from Leeloo’s end. However, any charges levied by your financial institution or for receiving international wires fall under the trader’s responsibility.
