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Score
United Kingdom
2-5 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
Add brokers
Comparison
Quantity 3
Exposure
Score
Regulatory Index0.00
Business Index6.55
Risk Management Index0.00
Software Index4.00
License Index0.00
No valid regulatory information, please be aware of the risk
Single Core
1G
40G
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Company Name
Local Financial Ltd
Company Abbreviation
Local Financial
Platform registered country and region
United Kingdom
Company website
Company summary
Pyramid scheme complaint
Expose
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 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 | 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 |
Local Financial is not regulated, which makes it less safe than regulated brokers.
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 | ❌ |
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 |
The spread is as low as 0.1 points.
The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.
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 |
The minimum deposit is 0. However, payment methods and associated fees are unspecific. Some traders said that Local Financial was unable to withdraw cash.
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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