Lider Forex Review
Lider Forex has one live trading account with a maximum leverage of 1:200 on most of the 50-ish forex pairs available for trading. There is also a free demo account with virtual $100 000 for risk-free test trading.
According to its site, the broker also offers ECN trading.
The Company. Security of Funds
Company Country Regulation
Fortrade UK FCA
Lider Forex is an offshoot of the FXLider forex broker, which on its part is owned by the UK FCA-regulated forex broker Fortrade. Respectively, both are listed as its marketing affiliates and have strong relationship with it.
Lider Forex is mostly targeting clients in Azerbaijan.
The broker is benefiting from the FCA regulation of Fortrade and is abiding by the UK watchdog requirements, including for keeping client funds in segregated accounts and being a member of the Financial Services Compensation Scheme (FSCS) that covers up to £50,000 per client in case of the broker’s insolvency.
Minimum initial deposit
The trading conditions of Lider Forex are the same as those of FXLider, which we have already reviewed. The minimum initial deposit of both is $/€ 100, which is average for the industry. There are, however, other FCA-regulated brokers like IG, which requires just $1.
Spreads and commissions
Lider Forex offers fixed spreads of 3 pips for the more popular major forex pairs like EURUSD, EURGBP and USDJPY. The broker does not charge additional commissions and fees, but has included them in the spreads, instead.
This is a standard practice among the brokers who include their fees in wider spreads, like Grand Capital or FXTM.
Lider Forex’s maximum leverage is 1:200, which is not too high, but is less risky. Furthermore, it is the same as that of the parent Fortrade.
Lider Forex has the same promotion as FXLider. For new clients the broker offers a welcome bonus, a credit bonus and a balance bonus. To its active clients Lider Forex has a “second time deposit promotion”, credit bonus and payoff, balance bonus, a priority client bonus and incentives for long term traders.
Methods of Payment
Lider Forex accepts client deposits through bank transfers, credit cards Visa and MasterCard and the electronic payment services Neteller and Skrill. Those are the standard options offered by many forex brokers. Others, like XM, for example, offer many more.
Perhaps Azerbaijan is not the primary market for any global major forex broker, so the void has to be filled by smaller ones.
Lider Forex has the benefit of being well-regulated thanks to its association with Fortrade and this means it is a stable and reliable company. Much more stable and reliable than any unregulated forex broker.
Its trading conditions may not be the most lucrative, but they are not bad either. Besides, the traders in Azerbaijan probably don’t have many options to choose from.
Lider Forex Review Conclusion
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