Leverate – a Comprehensive Solution or Fuss Over Nothing? Check Our Review
Founded in 2007, Leverate has been offering a wide array of services to suit the growing risk management, dealing, liquidity and back office needs of online brokerages. As a provider of financial services, Leverate is regulated by the Cyprus Securities and Exchange Commission (CySEC) and has offices around the globe as well a 24/7 customer support service.
Product Offering
Leverate is specialized in the provision of premium broker solutions and services that support online trading companies in their effort to minimize risk and maximize profit.
Sirix Trader is the company’s proprietary trading platform. The software has a web and a desktop version and a mobile application which is compatible with Android, iOS and Windows. It has intuitive charts and boasts over 60 indicators and oscillators, which provide traders with a rich arsenal for in-depth technical analyses. The web version has dark and light themes.
Social trading is integrated directly into the Sirix interface. This should give individuals the opportunity to automatically copy the orders executed by other potentially more experienced traders. The algorithm allows for good flexibility when it comes to the allocation size of copied positions, which is crucial for risk management from a trader’s perspective.
What makes good impression is that Leverate gives brokers the chance to add cryptocurrency CFDs to their instrument lists. Sirix Crypto is a dedicated crypto trading platform with a wide range of hot symbols. Businesses are given the option to use the standalone platform, Sirix Crypto, or get some digital assets as bonus in Sirix Trader.
Online trading companies can take advantage of the Sirix Broker. This platform gives brokerages the framework to segment clients into groups according to certain criteria; modify their trading conditions; carefully monitor trading activity with the help of various dedicated real-time reports; improve conversion and retention by the means of a built-in notifications panel.
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The MT4/MT5 White Label Solution targets those who want to offer the most popular retail trading platform, the MetaTrader, used by millions of traders worldwide. The software itself has a desktop and web version and a mobile application. All of them are relatively easy to use and have hundreds of integrated technical indicators and expert advisors.
Similar with many other competitive offerings, Leverate too offers a white label solution, which saves brokers the substantial cost of purchasing a full MetaTrader server license. Instead, they provide their clients with the MT4/MT5, which would be hosted on Leverate’s servers.
The MetaTrader Manager and the MetaTrader Admin are designated to give enough flexibility and control over trading conditions and client groups; they contain the tools to set and modify the components of the platform. Furthermore, they have a comprehensive set of reports which allow for maximum visibility over the system performance and over clients’ trading activity.
Leverate offers Forex & CFD businesses a simple risk management solution, called LXRisk. This allows real-time exposure tracking, creation of personalized reports and customizable settings for specific client groups, etc.
LXRisk can be easily utilized and be equally useful for STP brokers, market makers and prime brokers. The software helps in organizing all client and trading data, so that everything a risk manager needs can be found with just a few clicks.
LXFeed is the name given to Leverate’s pricing data feed, which includes thousands of instruments in various asset classes: FX pairs; stocks; indices; financial, energy and agricultural futures; cryptocurrencies.
The company’s feed is fast and relatively stable, which for a broker means a higher percent of filled orders and less slippage. Leverate has a technology for filtering price spikes and off quotes, thus ensuring pricing accuracy. It should be kept in mind, however, that even in its presence, some rare instances of price spikes cannot be completely ruled out.
A reliable CRM is an absolute must for every Forex and CFD firm, and Leverate aims to meet this demand with its LXCRM. The product allows brokers to create new users relatively fast, due to the full system automation. Enhanced security is one of the strong advantages the CRM has in store for trading companies: by means of customizable permissions, Leverate restricts access to the appropriate levels. Although this is not a unique invention on Leverate side, it makes good impression. This platform can also be integrated with the phone system and email sender. It also enables the automation of margin calls, marketing campaigns, notifications for important events, etc. Finally, LXCRM can be integrated with the affiliate system of a broker.
Although the overall quality of Leverate’s CRM is high, it does come with a few serious shortfalls. An inexcusable disadvantage is that it lags on certain occasions, especially if the system gets overloaded with a large amount of data. That is quite problematic for a product which has to comfort and support client’s growth in any way possible, not discourage it.
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Packages
Leverate combines its product offerings in packages in a bid to offer complete solutions for online trading companies. LXSuite is an all-in-one brokerage kit consisting of a server, a front-end and back office support. LXSuite aims to offer the full package, containing everything а business needs in order to be built from the ground up and then developed.
The LXSuite package gives a brokerage firm a hosted MT4 or MT5 platform, bundled with LXFeed, LXCRM, LXRisk and LXCapital. In addition, the client can take advantage of Leverate’s website development services and receive a professional website built to accommodate his unique business needs.
The Sirix Venture packs together a server, the Sirix trading platform and Sirix Broker. The company’s proprietary trading software, available on Desktop, Web and Mobile, comes with a complete back office solution. As previously mentioned, the Sirix Broker provides the necessary framework for organizing clients in groups, setting trading conditions on a group level and monitoring trading activity. The system also features a real-time reporting section and a notification panel. It’s based on the MT4, as well as on Leverate’s own trading platform.
The Sirix Venture also includes the option to take advantage of Leverate’s web developers, designers and content writers who can build your company a solid website.
LXLite is aiming at new Forex and CFD businesses looking to set up an authorized brokerage. The assistance of a dedicated team of professionals will help you easily pass through the bureaucratic obstacles and cope with the hardships associated with the process of having your brokerage regulated.
With LXLite you get regulation, risk management and payment processing, while remaining in full control of your sales and retention. It is important to understand that Leverate is not a brokerage firm; for this reason, it could be viewed as a trustworthy partner, rather than as a competitor. It provides professional assistance and solutions, while leaving you to operate your business model and decide on your trading terms and conditions. As with the previous two packages, the website development option is included here too.
Leverate has a lot to offer to brokerages that are considering expanding their business to the Asia-Pacific region. The GoEAST package includes localized trading platforms, IB systems and the novel WeChat trading platform. All this is accompanied by a fast and relatively stable feed backed by local hosting, which brings about instant execution and a high percent of filled orders. With their experience in the Asian market, Leverate can also provide you with HR and marketing assistance, which as per the claim – is included in the price.
Customer Support
Leverate operates a multi-language 24/7 customer support service via phone, email or Skype. In case of any issues or inquiries, one can get in touch fairly easy and eventually get the assistance needed. Clients using any of the company’s products or packages are assigned a dedicated account manager to ensure that all of their needs are being properly met. Sometimes chat support can be a bit slow, so we advise using the phone line for cases that require a more urgent response.
Initial integration is also somewhat painful and sometimes it seems like it takes forever to close a support ticket for something as simple as whitelisting new client IPs.
Security
One of the most valuable assets that an online broker has, is its database. For this reason, Leverate claims it takes security quite seriously and has taken the necessary measures to keep sensitive client data safe and secure. As a step in this direction, the company has been partnering with Leads Protection System, a data protection provider. The LPS system, powered by Payneteasy, protects sensitive data securing all communication channels by the use of encryption and tokenization methodology.
Voices From the Industry:
In the effort to write the best reviews possible, we have reached out to various industry stakeholders and brokerage experts to ask for their opinion on our reviewed products and services. While some of them agree that Leverate overall has a great portfolio offering, others shared concerns about the performance and the usability of some of their products. Although LXCRM has most of the necessary functionality, it was claimed to be not so user-friendly and a bit outdated by most of the people we spoke with. “Built on top of Microsoft Dynamics, it looks old-fashioned and busy as it is obviously trying to cover a lot of ground, instead of focusing on the main functionalities and making them really perfect”, said an entrepreneur who used LXCRM for several years before shifting to a competitive product. “Leverate offers Social Trading, which works quite odd and in my view the copy trading is still being far from perfect”, he added.
There were also some negative comments about the quality of the support, which as we know from experience, might be quite subjective. What is more shocking is Leverate’s feed is not as stable as claimed in company presentations, an industry veteran shared with us.
Conclusion
For good or bad, Leverate has it all. Whether you are running a start-up or an established broker in the Forex and CFD industry, Leverate will try to offer a product or a package to suit your needs. The company has its proprietary trading platform on offer, Sirix, yet it also has an answer for brokerages that want to offer their clients MT4 or MT5. For those in need of a comprehensive CRM, a system for their back office or for their risk management team, Leverate would also try to tick all the boxes. Depending on your business model, Leverate can offer a data feed and/or liquidity to your brokerage as well. But if you need further advice, just ping us.
FTT Score
Based on the review above, on the scale from 1 to 10, our FinTechTycoon expert score is
6.
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