Is LEIWOW FX Legit or Scam?
Red flags wave concerning LEIWOW FX’s legitimacy. The biggest concern is the lack of regulation. No valid regulatory oversight from a government financial authority puts your funds at significant risk.
While LEIWOW FX claims to be founded in the United States, this doesn’t guarantee legitimacy. Unregulated brokers can manipulate markets, make withdrawals difficult, and simply disappear with your funds.
In the absence of regulation, LEIWOW FX is a high-risk investment. Proceed with extreme caution, if at all.
Considering LEIWOW FX for your forex trading needs? Before you dive in, this review will shed light on the platform’s features and, more importantly, address a critical concern: is LEIWOW FX legit or a scam?
Company Overview
LEIWOW FX Review Summary | |
Founded | 2015 |
Registered Country/Region | United States |
Regulation | No regulation |
Market Instruments | Forex, indices, energy, precious metals, soft commodities, ETFs trading, US CFDs shares, UK CFDs shares, EU CFDs shares, HK CFDs shares and Bond CFDs |
Demo Account | Unavailable |
Leverage | 1:500 |
EUR/ USD Spreads | 1.2 pips (Std) |
Trading Platforms | LEIWOW FX app |
Minimum Deposit | $100 |
Customer Support | Email, Facebook, Instagram, YouTube and Linkedin |
Services or Products
LEIWOW FX offers trading in various financial instruments, including:
- Forex
- Indices
- Energy
- Precious Metals
- Soft Commodities
- ETFs Trading
- CFDs on US, UK, EU, and HK Shares
- Bond CFDs
If you have lost money to companies like 1OTRC, or Crypto Wealth; please report it to us on our Report a Scam form.
Trading Platform & Leverages
LEIWOW FX provides a proprietary mobile app for trading. However, it lacks the industry-standard MT4 platform used by many reputable brokers.
LEIWOW FX offers leverage up to 1:500. While high leverage can amplify profits, it also magnifies losses. Beginners, especially, should be cautious of such high leverage.
Spreads and Cost of Trading
- RAW ECN Account: Spreads from 0.0 pips + $6 commission per round turn.
- Standard STP Account: Spreads from 1.2 pips, no commission.
These spreads seem competitive, but the lack of a reputable regulator raises concerns about their accuracy.
License and Regulations
LEIWOW FX is a critical concern due to the lack of licensing and regulations. This implies:
- No Guarantee of Fund Safety: In case of disputes or broker malfunction, there’s no regulatory body to ensure the return of your invested funds.
- Unfair Practices: Unregulated brokers can manipulate quotes, execute trades against your interests, or engage in other unfair practices without repercussions.
Legal Warning Against LEIWOW FX
Due to the lack of regulation, there’s no guarantee of fair trading practices or the safety of your funds. We strongly advise against depositing money with LEIWOW FX.
Deposit and Withdrawal Methods
LEIWOW FX offers various deposit and withdrawal methods, including:
- Pay & Google Pay
- VISA & Mastercard
- Bank Transfer
- Neteller & Skrill
- Cryptocurrencies
While convenient, these methods don’t mitigate the risks associated with an unregulated broker.
LEIWOW FX Pros and Cons
Pros | Cons |
Wide range of instruments | Unregulated |
| Â | No MT4 platform |
| Â | High leverage (risky) |
| Â | Unclear spreads (due to lack of regulation) |
| Â | Legal warnings reported |
Why Dealing With An Unlicensed Broker Is Risky
Unlicensed brokers pose several risks:
- Lack of oversight: No government body monitors their activities, increasing the chance of manipulation and fraud.
- Fund security concerns: Difficulties in recovering your funds if the broker disappears or faces insolvency.
- Unfair trading practices: The broker may manipulate prices or prevent withdrawals.
Client Feedback
There’s limited information available regarding client experiences with LEIWOW FX. Due to the lack of regulation and potential scam risk, we advise against trusting testimonials or reviews found on the broker’s website.
How Can “Reviewsadvice” Help You If You Get Scammed?
Unfortunately, recovering funds lost to a scam broker can be challenging. Reviews Advice cannot directly help with recovering funds, but we aim to provide informative reviews to help users avoid scams in the first place. If scammed by a broker, Reviewsadvice can help with:
- Filing Complaints: Guidance on filing against brokers who violate terms or withhold money.
- Recovery Specialists: Connecting you with services to potentially get your funds back.
- Withdrawal Issues: Assistance in filing complaints if you’re facing withdrawal problems.
- Disappearing Brokers: Help find experts to track down the broker and guide your next steps or you Can report to us today by the below form.
File A Complaint Against Scammers
Final Thought
LEIWOW FX’s lack of regulation is a significant cause for concern. When your hard-earned money is at stake, prioritize safety and choose a well-regulated broker. There are many reputable options available. Don’t risk your funds with LEIWOW FX.
