FXLeader Review (2023)

Is Fxleader a scam or a legit?

FXLeader is 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator (See our Regulated Brokers‘ reviews). It is NOT SAFE to trade FXLeader. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable.

FXLeader broker is not regulated by the Estonian Financial Supervisory Authority Although  FXLeader is a forex broker operated by Leadernet OU, based in Tallinn, Estonia. The terms and conditions of the company mention the service provider company FXLEADER LTD., based in Saint Vincent and the Grenadines.

It seems that the company actually operates from the offshore area. The offshore areas are quite beneficial for the brokers because of the low-cost licenses and minimum taxation. For the traders, offshore zones are dangerous because of the little focus on consumer protection. Moreover, UK’s FCA has issued a warning against FXLEADER, which is one more to avoid this broker.

That is why we advise dealing with the brokers regulated by the UK’s FCA or any other reputable regulator. For instance, The license from the UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license (Find out best STP forex brokers). The regulator also protects customers when authorized financial services firms fail. Check the list of the FCA-regulated brokers here.