Note: LeaSen Financial Limited's official website: https://www.leasen-fx.com/ is currently inaccessible normally.
LeaSen Financial Limited Information
LeaSen Financial Limited is a newly founded forex brokerage company two month ago in July, 2024. It enables traders to conduct investment trading in derivatives, commodities, index CFDs, stock CFDs. It offers two live account types, with a minimum deposit from $200. The trading platform it uses is the widely accepted ST5 and the copy trading is claimed available.
However, it's noteworthy that the company operates without valid regulation.
Is LeaSen Financial Limited Legit?
The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.
Downsides of LeaSen Financial Limited
Unavailable website: LeaSen Financial Limited's website cannot be opened currently. Not any reliable broker will behave like this.
Regulatory concerns: The company operations without any regulations, meanig that it does not comply to rules from any regulatory authorities. This heightens trading risks with them.
High minimum deposit: Though the company offers 2 live account types, its minimum deposit from $200 in Standard Account is relatively high comparing to top brokers.
No customer support: The absence of customer support channels prevents traders from connecting with the company, even when they need professional support.
Market Instruments
As a forex brokerage, LeaSen Financial Limited offers several common investment products to its clients- derivatives, commodities, index CFDs, stock CFDs.
Derivatives- financial instruments whose value derive from the performance of underlying assets such as stocks, bonds, or commodities.
Commodities - Basic goods or raw materials like gold, oil, or agricultural products.
Index CFDs (Contracts for Difference) - Allow traders to speculate on the price movements of a stock market index without owning the underlying assets. Examples are the S&P 500, NASDAQ 100, Nikkei 225 etc.
Stock CFDs- With this, people speculate on the price movements of individual company stocks without actually owning the shares.
Account Type
The company offers two tiered live accounts with different conditions to suit different trading styles and experience levels: Standard Accountand and Professional Account.
The Standard Account requires a minimum deposit of USD 200 and does not charge trading commissions, suitable for those who just started investment journey. While the Professional Account targets more experienced traders with much higher minimum deposit at USD 5000 and charges a commission of USD6/lot traded.
Spread started from 0.6 pips for Standard Account and 0.0 pips for Professional Account.
Leverage is up to 1:500 for both accounts, but you are always suggested to use leverage prudently since it amplies not only your gains, but also losses.
Trading Platform
LeaSen Financial Limited uses the ST5 trading platform, which allows for copy trading. ST5 is not as popular and extensive in functions as platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5) but still offers basic functionalities.
Deposit and Withdrawal
You can fund your account with several methods with LeaSen Financial Limited: China UnionPay, MasterCard, VISA and PayPal. Processing time is within 1 business day and when it comes to profit withdrawal, you need to withdraw at least $100 from your account.
Customer Support
LeaSen Financial Limited does not disclose any contact info for traders to seek assistance and support, which is a huge disadvantage and inconvenience its clients. You should take this factor into consideration if you'd like to commit actual trading with them.
Conclusion
To sum up, LeaSen Financial Limited is new player in the financial industry and offers trading services to its clients. However, the company does not maintain accessible website for investors to learn about them. Furthermore, the absence of regulation and complete lack of customer support channels position it as an unreliable and untrustworthy broker.
