Score
Local Financial
United Kingdom|2-5 years| https://www.localfinancial.ltd/en
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Contact number
+1 719 301 0033
Other ways of contact
Broker Information
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Local Financial Ltd
Local Financial
United Kingdom
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:400 |
| Minimum Deposit | -- |
| Minimum Spread | from 0 pips |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:400 |
| Minimum Deposit | -- |
| Minimum Spread | from 0.3 pips |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:400 |
| Minimum Deposit | -- |
| Minimum Spread | rom 0 pips |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:400 |
| Minimum Deposit | -- |
| Minimum Spread | from 0.3 pips |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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Local Financial · Company Summary
| Local Financial Review Summary | |
| Founded | 2020-11-27 |
| Registered Country/Region | United Kingdom |
| Regulation | Unregulated |
| Market Instruments | Forex/Stocks/Indices/Cryptocurrencies/Precious Metals/Commodities |
| Demo Account | ❌ |
| Leverage | Up to 1:500 |
| Spread | As low as 0.1 points |
| Trading Platform | MT5(Windows/MAC/Android) |
| Min Deposit | From 0 |
| Customer Support | Email: Support@localfinanaial.ltd |
| Online Chat | |
Local Financial Information
Local Financial is a broker. The tradable instruments, providing standard and ECN with a maximum leverage of 1:500, include forex, stocks, indices, cryptocurrencies, precious metals, and commodities. The minimum spread is 0.1 points and the minimum deposit is 0. Local Financial is still risky due to its unregulated status, high leverage, and bad reviews about difficulty withdrawing money.
Pros and Cons
| Pros | Cons |
| 24/5 customer support | Unregulated |
| Various instruments: forex, stocks, indices, etc. | Negative comments about losses |
| MT5 available | No specific cost information |
| Leverage up to 1:500 |
Is Local Financial Legit?
Local Financial is not regulated, which makes it less safe than regulated brokers.
What Can I Trade on Local Financial?
Traders can choose different investment directions because the broker provides forex, stocks, indices, cryptocurrencies, precious metals, and commodities.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Stocks | ✔ |
| Cryptocurrencies | ✔ |
| Precious Metals | ✔ |
| Indices | ✔ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Local Financial has standard and ECN accounts. Traders who want low spreads can open an ECN account.
| Account Type | Standard | ECN |
| Minimum spread | 1.3 points | 0.1 points |
| Negative balance protection | Yes | Yes |
Local Financial Fees
The spread is as low as 0.1 points.
Leverage
The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.
Trading Platform
Local Financial has an authoritative MT5 trading platform for Windows, MAC, and Android. Compared with MT4, experienced traders prefer MT5.
| Trading Platform | Supported | Available Devices |
| MT5 | ✔ | Windows/MAC/Android |
Deposit and Withdrawal
The minimum deposit is 0. However, payment methods and associated fees are unspecific. Some traders said that Local Financial was unable to withdraw cash.
Customer Support Options
Local Financial provides 24/5 customer support, and traders can contact Local Financial via live chat and email instead of the phone, which is unable to communicate with customers in time to solve efficiently emergencies.
| Contact Options | Details |
| Support@localfinanaial.ltd | |
| Online Chat | ✔ |
| Supported Language | English |
| Website Language | English |
| Physical Address | Not mentioned |
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