Levetrade Review – Lackluster Features at a Premium Price

Levetrade, a recently established South African trading platform under AFK Capitals Ltd., raises concerns despite its appealing website. The regulatory backing from FSCA (Financial Sector Conduct Authority) in South Africa allows unlimited leverage but falls short of Tier 1 regulators’ standards. While compensation funds exist, choosing a better-regulated brokerage is advised.

Client Base and Geographic Restrictions
Levetrade explicitly excludes US citizens due to regulatory directives but attracts clients primarily from South Africa, Singapore, Cyprus, Malaysia, and the United Kingdom. The project, initiated in February 2022, lacks a social media presence, raising questions about its marketing approach.

Trading Costs and Fees
The platform offers heightened leverage of up to 1:400, catering to risk-tolerant clients. However, spreads are wider than industry averages, starting at 3.0 Pips for low-end forex accounts and tightening to 0.9 Pips for premium accounts. Notably, Levetrade imposes high fees, including a $25 charge for bank wire transfers, a $100 dormancy fee for inactive sub-accounts, and a $50 “no trade fee” for withdrawals without trading activity.

Trading Features and Software
Levetrade falls short in trading features compared to Tier-1 counterparts. The absence of renowned platforms like MT4, MT5, or cTrader is a notable disadvantage, offering only a simplistic web trader. The proprietary web trader lacks advanced features, presenting a significant drawback for experienced traders.

CFD Trading Assets
The platform provides CFDs on various financial products, including forex pairs, commodities, indices, shares, and cryptocurrencies. Despite a diverse range of assets, the overall trading environment remains subpar.

Account Types and Pricing
Levetrade offers tiered account structures with escalating deposit requirements, promising higher leverage, tighter spreads, and swap refunds. Account types include Classic ($250), Silver ($5,000), Gold ($25,000), and Platinum ($100,000). The minimum deposit requirements are considerably higher than industry standards.

Mobile App Concerns and Demo Account Limitations
Levetrade’s mobile app is advertised but lacks download links, suggesting potential false advertising. The default demo account lasts only a week, limiting trial opportunities and raising concerns about transparency.

Withdrawal Options and Customer Support
While Levetrade offers various withdrawal methods, including bank cards, bank wires, and cryptocurrencies, the details and associated fees are not openly disclosed. Customer support lacks prompt live support, leaving clients to rely on phone or email communication with undisclosed work hours.

Overall Experience
While Levetrade holds a valid license, its regulatory jurisdiction is considered weak. The platform’s service lags behind competitors, with transparency issues and elements that appear to be a rip-off. For those experiencing unscrupulous behavior, seeking legal assistance is recommended. Levetrade is not an optimal choice for initiating trading activities.