LevelTrade

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 & Regulation

LevelTrade presents itself as an online trading broker founded in 2021 and registered in Dominic, claiming to provide its clients with various tradable financial instruments with leverage up to 1:200 and fixed/floating spreads on the MT4 and web-based trading platforms via 6 different live account types. Here is the home page of this brokers official site:

As for regulation, it has been verified that LevelTrade currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.25/10. Please be aware of the risk.

Market Instruments

LevelTrade advertises that it offers access to more than 400 trading assets, including currency pairs, popular shares, precious metals and commodities.

Account Types

LevelTrade claims to offer 6 types of trading accounts - Easy start, Standard, Trader, Pro Trader, Premium and VIP, with minimum initial deposit requirements of $250, $2,500, $10,000, $25,000, $50,000 and $250,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

The leverage provided by LevelTrade is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

All spreads with LevelTrade are fixed or floating type and scaled with the accounts offered. For example, fixed and floating spreads of 15% on the Standard account, 30% on the Trader account, 45% on the Pro Trader account, 60% on the Premium account and 75% on the VIP account. As tested on the Webtrader, the EUR/USD spread is 3 pips.

Trading Platform Available

The platform available for trading at LevelTrade is one of the most notable and preferred trading platforms the market offers - MetaTrader4 and a web trader. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

LevelTrade says to work with Credit/charge cards and Bank/Wire Transfers. The minimum initial deposit requirement is said to be $250. According to the terms, it states that it will take up to 5 business days for the saved assets via Bank/Wire Transfer to show up on your exchange account.

Bonuses & Fees

LevelTrade claims to offer a bonus on deposit, which varies depending on the account type. For instance, the bonus on deposits is up to 10% on the Easy start account, 25% on the Standard account, 35% on the Trader account, 50% on the Pro Trader account, 75% on the Premium account and 100% on the VIP account. However, the bonus cant be withdrawn easily due to some limits, as the below screenshot shows.

In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.

The broker also charges a Torpid Fee. If you didn't log in and exchanged from your record within 6 months, your account becomes dormant and will be dependent upon a derivation of 10 % every month.

Customer Support

LevelTrades customer support can be reached Mon - Fri: 9 am - 9 pm by telephone: +1767 74950498600, email: support@leveltrade.co, compliance@leveltrade.co or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and LinkedIn. Company address: 8 Copthall, Roseau Valley, 00152, Commonwealth of Dominica.

Pros & Cons

Frequently Asked Questions (FAQs)