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The WikiFX Score of this broker is reduced because of too many complaints!

LEOM

China|2-5 years|
Suspicious Scope of Business|High potential risk|

https://leommarket.com

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https://leommarket.com
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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1G

40G

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Company Name

LEOM MARKET LTD

Abbreviation

LEOM

Platform registered country and region

China

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-07-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 7 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

LEOM · WikiFX Survey

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LEOM · Company Summary

Note: The website - https://leommarket.com is not available and there is no contact information. We assume that the broker LEOM might be closed or run away. Please be aware of the risk!

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

LEOM Review Summary in 10 Points
Founded 2021
Registered Country/Region China
Regulation No license
Market Instruments N/A
Demo Account N/A
Leverage 1:500
EUR/USD Spread N/A
Trading Platforms MT4
Minimum Deposit N/A
Customer Support N/A

What is LEOM?

LEOM is an offshore new-established broker which claims to offer leverage up to 1:500 and MT4 trading platform.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros & Cons
Pros Cons
• MT4 supported • No valid regulation
• Unavailable website
• Reports of unable to withdraw and scams
• Lack of transparency
• No contact ways

LEOM Alternative Brokers

    There are many alternative brokers to LEOM depending on the specific needs and preferences of the trader. Some popular options include:

    • IC Markets - A highly recommended broker known for its competitive spreads, fast execution, and extensive range of trading instruments.

    • FXCM - A well-established broker offering a user-friendly trading platform, educational resources, and a wide selection of tradable assets.

    • RoboForex - A reliable broker with a diverse range of trading accounts, competitive trading conditions, and access to various trading platforms, making it suitable for traders of all levels.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is LEOM Safe or Scam?

LEOM lacks valid regulation, and its website is currently unavailable. These factors raise concerns about the safety and legitimacy of the platform. Trading on an unregulated platform carries inherent risks, including potential scams or fraudulent activities. It is recommended to exercise caution and avoid engaging with unregulated brokers like LEOM. Traders should prioritize working with regulated and reputable brokers to ensure the security of their funds and trading activities.

Leverage

LEOM MARKET offers a leverage of up to 1:500, which means that traders can control positions that are up to 500 times the amount of their initial investment. High leverage can be enticing for traders as it allows for the potential to amplify profits. However, it is essential to understand that increased leverage also comes with higher risk. While it can magnify gains, it can equally amplify losses. Traders need to exercise caution and ensure they have a solid risk management strategy in place when using high leverage.

Trading Platforms

LEOM offers its clients access to the world financial markets through the MetaTrader 4 (MT4) platform. MT4 is a widely recognized and popular trading platform known for its advanced features and user-friendly interface. It provides traders with a comprehensive set of tools for analyzing the markets, executing trades, and managing their portfolios. The platform offers a wide range of charting capabilities, technical indicators, and customizable trading strategies, allowing traders to make informed trading decisions.

Additionally, MT4 supports automated trading through expert advisors (EAs), enabling traders to automate their trading strategies and execute trades based on predefined rules. With its stability, versatility, and extensive functionality, the MT4 platform offered by LEOM provides traders with a reliable and efficient trading experience in the global financial markets.

See the trading platform comparison table below:

Broker Trading Platform
LEOM MetaTrader 4 (MT4)
IC Markets MetaTrader 4 (MT4)
FXCM Trading Station
RoboForex MetaTrader 5 (MT5)

Deposits & Withdrawals

LEOM allows clients to make deposits using two main methods: wire transfer and Tether. Wire transfer is a traditional method of transferring funds from a bank account to a brokerage account. It typically involves filling out a withdrawal form and providing the necessary banking details to initiate the transfer.

On the other hand, Tether is a digital currency that is pegged to the value of a traditional fiat currency, such as the US Dollar. Clients can deposit Tether into their LEOM trading account by sending the funds to the provided Tether wallet address.

LEOM minimum deposit vs other brokers

LEOM Most other
Minimum Deposit N/A $100

Customer Service

LEOM's customer service appears to be inaccessible as there is no information provided on how to contact them directly. The lack of a clear and readily available communication channel raises concerns about the level of customer support they offer. Reliable and responsive customer service is crucial in the financial industry, as traders often require assistance, have inquiries, or need help resolving issues related to their trading accounts.

Without a way to reach out to LEOM's customer support team, it becomes challenging for traders to seek assistance or address any concerns they may have. This lack of transparency and accessibility in customer service may significantly impact the overall trading experience and trustworthiness of the broker.

User Exposure at WikiFX

On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure at WikiFX

Conclusion

Based on the available information, it is important to exercise caution and conduct further research before considering any engagement with LEOM. The lack of valid regulation and reports of issues related to withdrawals and scams raise concerns about the safety and reliability of this platform. Traders are advised to carefully assess the risks associated with trading on an unregulated platform and to seek alternative options that offer more transparency and regulatory oversight.

Frequently Asked Questions (FAQs)

Q 1: Is LEOM regulated?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: Does LEOM offer the industry leading MT4 & MT5?
A 2: Yes. It supports MT4.
Q 3: Is LEOM a good broker for beginners?
A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and lack of transparency.

Review 9

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