Level 2 Forex Review - Is It a Reliable Forex Broker? - WikiFX

Level 2 Forex Information

Level 2 Forex is a brokerage company firstly founded in 2015 and with its businesses mainly focuses on forex trading. It offers a free demo account for practicing and a live account for live trading. Minimum deposit is USD 100 and the broker offers leverage up to 1:1000 with various account sizes. As a No Dealing Desk ECN broker, the company charges commission at $0.025 USD per Micro Lot for remove liquidity orders and -$0.012 USD per Micro Lot for add liquidity orders.

In addition, the broker offers a proprietary web trading platfrom called “Level 2 Trader Pro”.

The company implements fund segregation to protect customer assets which is advantageous for traders, however, there is no active regulatory information displayed on the Level 2 Forex platform.

Pros and Cons

Is Level 2 Forex Legit?

The most important factor in measuring the safety of a brokerage platform is whether it is formally regulated. Level 2 Forex is an unregulated broker, which means that the safety of users' funds and trading activities are not effectively protected. Investors should choose Level 2 Forex with caution.

What Can I Trade on Level 2 Forex?

Level 2 Forex mainly focuses on forex trading. It supports major currency pairs such as EUR/USD, GBP/USE, USD/JPY, as well as minor and exotic currency pairs.

Account Type

Except for a demo account for practicing before commiting real money, Level 2 Forex offers a live account for live trading.

The minimum deposit is USD 100 to open an account and start trading, which is affordable to most traders, including beginners.

Leverage

Level 2 Forex enables different levels of leverage based on account sizes:

The larger the trading volume the account is, the smaller the leverage will be applied to avoid exponential growth of possible losses.

Spread

Level 2 Forex provides access to raw interbank spreads, offering traders direct pricing from the interbank market without added markups. This structure benefits those who prioritize tight spreads and wish to engage in high-volume or short-term trading strategies.

Fees

For trading fees with Level 2 Forex:

• Traders who remove liquidity—typically using market orders—are charged $0.025 USD per micro lot.
• In contrast, those who add liquidity with limit orders receive a rebate of -$0.012 USD per micro lot, getting paid when their orders are filled.

Trading Platform

Level 2 Forex does not offer the industry leading MetaTrader platforms. Instead, traders can make transactions throught the company's proprietary web platform “Level 2 Trader Pro”.

Yet we don't have any details of the platform yet since no access link on its website. Be sure you understand the functionalties before you execute trades on the platform.

Payment Method

The broker mainly allows payments through Visa, Mastercard and Maestro.