In a nutshell, LeeLoo Trading is a prop firm that specializes in providing funded accounts to skilled futures traders. While it is limited to futures trading, LeeLoo Trading excels in this domain and has established a strong track record, earning a 4.9/5 rating on Trustpilot. This review will delve into LeeLoo Trading's background, its unique features, pros and cons, and help you determine if it's the right option for you.
About LeeLoo Trading
LeeLoo Trading, founded by Jody Dahl, is a leading futures prop firm. It offers various styles and sizes of funded accounts, allowing traders to choose the account that suits their budget and trading preferences. However, it's important to note that LeeLoo Trading focuses exclusively on futures, which may limit its appeal for traders seeking asset flexibility.
LeeLoo Trading provides funded accounts exclusively for futures trading. Traders can choose from a range of futures assets, including equity futures, interest rate futures, currency futures, agricultural futures, energy futures, metal futures, micro futures, and cryptocurrencies. To be eligible for a funded account, traders must pass an evaluation by purchasing a Leeloo Practice Account and achieving their profit target within 10 traded days.
What's Unique about LeeLoo Trading?
Future-focused:
As a prop firm exclusively dedicated to futures trading, LeeLoo Trading excels in providing a reliable experience in this niche.
Account size flexibility:
Traders can start with a $25k account and work their way up to a $300k account, providing ample opportunities for growth.
Simulated trading:
LeeLoo Trading offers a proprietary platform for simulated trading, allowing traders to practice and refine their skills before trading with a funded account.
Strong track record:
With over 250 reviews on Trustpilot and an excellent rating of 4.9/5, LeeLoo Trading has established itself as a trustworthy and legitimate prop firm.
Pros and Cons of LeeLoo Trading
Pros:
Wide range of trading accounts: Prop Firm Leeloo Trading offers a variety of trading accounts, catering to both experienced traders and beginners. This allows traders to choose an account size that suits their needs and experience level.
Unique account options: Leeloo stands out with their Express and Glide accounts, providing traders with additional choices and flexibility in their trading strategies.
Static drawdown: Leeloo is the only live account provider that offers a static drawdown, which can be advantageous for traders who prefer a predictable risk management approach.
Profit split: Leeloo initially offers an 80/20 profit split, which increases to a 90/10 split after a year. This allows traders to retain a higher percentage of their profits over time.
Minimal trading limitations: Leeloo has relatively few restrictions, allowing traders the freedom to approach trading in their preferred style. They permit trading during news events and holding trades overnight, providing flexibility for traders.
Cons:
Evaluation restricted to 10 days: One limitation of Leeloo Trading is that the evaluation period for the Leeloo Express Practice Account is limited to 10 days. This can put pressure on traders to achieve their profit target within a relatively short timeframe, which may not be ideal for everyone.
Adjustment to trading style: The requirement to adapt to Leeloo's drawdown calculation methodology may necessitate some adjustments to a trader's individual trading style, which could be inconvenient for those who prefer a different approach.
Limited to futures only: Leeloo Trading exclusively focuses on futures trading, which may be a drawback for traders who prefer to trade other asset classes such as stocks, options, or forex. If diversifying into different markets is important to you, then Leeloo Trading may not be the most suitable option.
Additional costs for data feeds: While Leeloo includes a level 1 data feed in their account maintenance fees, traders need to purchase level 2 data feeds separately. This incurs additional costs for accessing order flow data.
The Final Score
Leeloo Trading is a reputable prop firm that offers a variety of trading accounts, including unique options like the Express and Glide accounts. Their dedication to providing a static drawdown and an 80/20 profit split (which increases to 90/10 after a year) sets them apart from other providers. While they have relatively few restrictions, their calculation of drawdown based on unrealized profits can pose a challenge for swing traders. Nonetheless, Leeloo's innovative approach and range of account types make them a strong contender in the funded trading accounts market, offering traders flexibility and the potential to come close to an own equity account.
Getting Started
To begin your journey with LeeLoo Trading, follow these steps:
Click here to visit LeeLoo's Website and automatically get your Prop Up Trading Discount
Explore the website Take some time to navigate through the website and familiarize yourself with the information provided. Pay attention to the different account types, features, and pricing options available. This will help you determine which account is best suited for your trading needs.
Choose the desired account type Based on your trading experience and goals, select the account type that aligns with your requirements. Leeloo offers a range of account sizes, starting from $25k and going up to $300k, with varying contract sizes and features. Consider factors such as your trading capital, risk tolerance, and preferred trading style when making your selection.
Review the qualification process Understand the qualification process outlined by Leeloo Trading. Take note of the minimum trading days required and the exchanges and products accepted for trading. Familiarize yourself with any additional requirements or restrictions mentioned for each account type.
Sign up for an evaluation account Follow the instructions provided on the website to sign up for an evaluation account. This will allow you to demonstrate your trading skills and meet the qualification goals set by Leeloo. Provide the necessary information and complete any required forms or agreements.
Complete the evaluation period Once your evaluation account is set up, actively trade and adhere to the rules and guidelines specified by Leeloo Trading. Aim to fulfill the qualification goals within the minimum trading days required. Make sure to follow their risk management protocols and trading restrictions.
Successfully qualify for a funded account If you meet the qualification goals within the evaluation period, you will be offered a contract to sign. Review the terms and conditions carefully before proceeding. At this point, you will have two options: either start with a $100k account and a static drawdown (Accelerator) or a dynamic drawdown based on profits or account balance (The Investor).
Remember to refer to the official website and terms provided by LeeLoo Trading for detailed information and updates.
Disclaimer: Trading and investments involve significant financial risks, and it is important to do thorough research and seek professional advice before engaging in any trading activities. The step-by-step guide provided here is for informational purposes only and should not be considered as financial advice.
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