Local Financial Spreads, leverage, minimum deposit Revealed

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

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.

Account Type

　　Local Financial has standard and ECN accounts. Traders who want low spreads can open an ECN account.

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.

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.