Leeloo Trading Review 2024
Leeloo Trading was set up by Jody Dahl, who hails from a family of farmers and ranchers in Central Montana. Futures trading emerged from the need to protect farmers and commodities producers, and the two industries have a lot in common: success cannot be reached in either trading or farming through quick shortcuts and achievements can be quickly wiped out (by the market, in the case of trading, and by the caprices of nature, in the case of farming). What’s more, farmers and ranchers understand how crucial mutual support in their community is: a principle that traders also do well to appreciate.
Leeloo Trading provides traders with simulated capital that they can use to try out their trading skills in the market. The prop firm’s performance-based competitions, known as
Leeloo’s Performance Based Trading and Contest, offer the potential for payouts. With an industry-leading education platform, Leeloo attracts retail traders worldwide with its sterling reputation and commitment to the welfare of its traders. Day traders are permitted to trade beyond conventional market hours and benefit from the absence of any consistency rules. The prop firm does, though, impose a profit target and a trailing drawdown. There are an array of account sizes to choose from, catering to a range of budgets.
Leeloo Trading Evaluation
Each account phase with Leeloo Trading has its own distinct features, from the evaluation phases like Foundation accounts (LL), Bundle accounts (LB), Entry accounts (LE), and Weekly accounts (WL), to funded accounts like the Investor and Accelerator accounts, which are known as the Leeloo Performance Account™ (PA). These stages provide traders with avenues for account progression and profit potential through performance-based competitions. The firm’s trading philosophy revolves around attaining predetermined targets, cultivating responsible and consistent trading, and effectively managing risk to safeguard potential profits.
New members are offered a 14-day Free Trial for their practice accounts, in which they can open as many as 12 contracts and trade with $100,000 in virtual capital. This valuable option enables traders to get to know the Leeloo platform before they commit any capital.
Below we take you through every account option and their respective features.
Foundation Account
Foundation (LL) accounts offer a range of sizes, meaning there will be an account for every trader, whatever their budget. Among these, the Leeloo Express and Aspire accounts are the preferred foundation option for most traders. Key features include:
- A 6-7% profit target
- Non-recurring fees of $77 (for a 14-day period, exclusive to Leeloo Express)
- Recurring fees ranging from $150 to $675
- Dedicated account for swing traders, known as “The Glide”.
Leeloo Bundle Accounts
The Leeloo Bundle (LB) has six different account options, and the following features:
- Each account is non-recurring.
- Upon purchase, you will receive three accounts, but only one account can qualify for a Performance Account.
- A reset will only affect one account within the bundle, rather than the whole bundle.
- Accounts are valid for 30 days from the purchase date, with no subsequent billing.
Entry LE Account
Leeloo Entry (LE) accounts share identical qualification criteria and rules to Foundation accounts but provide a cheaper subscription with a limited payout structure. As such, Entry accounts are aimed at newcomers to the industry, or those with more modest budgets, looking to try out their strategies and receive payouts for a reduced monthly fee.
Leeloo Entry accounts provide payouts via periodic performance-based contests, which operate as follows:
- The trader requests $1,000.
- The trader receives $500.
- This arrangement applies for the initial four months of the Performance Account obtained through an LE account. From the fifth month onwards, traders receive 50% of all simulated profits.
- Traders who qualify for an LE account can opt for either the Investor or Accelerator PA, offering a 50% share of simulated profits on eligible payouts.
Weekly Accounts
Investor Weekly (WK) accounts offer traders the chance to expedite payouts through Leeloo’s periodic performance-based competitions within their Leeloo Performance account. WK accounts are categorised as specialty accounts and as such are available only at specific times (determined by Leeloo).
Upon qualification for a WK account, you will benefit from the following features:
- Initial payout request can be made after ten trading days.
- Subsequent requests are allowed with four days between each request.
- Payouts are processed every Tuesday, eliminating the need to wait until the end of the month to make a request.
Other features include:
- The choice between a one-time Performance Account fee of $250 or monthly Performance Account fees of $88, irrespective of the account size.
- Consistent adherence to your trading plan.
- Traders retain 100% of the first $12,500 they generate in profits, and thereafter retain 90% of each payment request exceeding $12,501.
- Trade copiers are not permitted.
- Leeloo reserves the right to determine the maximum number of WK accounts a trader can trade.
Features specific to Aspire WK $25,000 and Launch WK $50,000 accounts are:
- Traders must complete 10 trading days to be eligible for the first payout request.
- Subsequent payout requests require four trading days between each request.
Leeloo Trading Rules
Evaluation Rules
Leeloo Trading imposes four primary rules:
- Don’t hit the trailing drawdown.
- Trade for a minimum of ten days.
- Only trade during designated trading hours.
- Only trade permitted instruments.
| Rules | Foundation accounts (LL) | Bundle accounts (LB) | Entry accounts (LE) | Weekly accounts (WL) |
| Trailing Drawdown | The Rising Trailing Max Drawdownhttps://members.leelootrading.com/amember/aff/go/propfirmplus | The Rising Trailing Max Drawdown | The Rising Trailing Max Drawdown | The Rising Trailing Max Drawdown |
| Trading Days | Minimum of 10 trading days | Minimum of 10 trading days | Minimum of 10 trading days | Minimum of 10 trading days |
| Trading Times | Should be closed between 17:00 and 18:00 EST | Should be closed between 17:00 and 18:00 EST | Should be closed between 17:00 and 18:00 EST | Should be closed between 17:00 and 18:00 EST |
Funded Account Rules
Leeloo Trading offers two types of funded accounts:
- Accelerator Performance Account:
- There’s a reasonable amount of information to get to grips with here. In the Accelerator program, traders start with two contracts and scale gradually. A static drawdown limit of $625 is in place. As you generate profits, you gain the ability to open additional contracts. A minimum trading period of 30 calendar days is required before the first withdrawal.
- Trading is prohibited on the day of payout requests. Traders must submit their payout requests and refrain from trading until the requested payouts have been deducted from their accounts.
- A maximum of three concurrent Accelerator accounts is allowed under one Rithmic ID, with only one Rithmic ID permitted per trader.
- Traders are presented with the option of an Accelerator Glide $100,000 2-contract static or an Investor $25,000 trailing drawdown. If a trader possesses three Accelerators and qualifies for another one, they will receive the $25,000 trailing drawdown option.
- Investor Performance Account:
- The Investor account allows traders to trade with their full number of contracts from the first day, without the need for scaling. However, stringent withdrawal limits are imposed during the initial four months, emphasising the importance of accumulating a good account balance from which profits can be withdrawn later on.
- As with other accounts, trading on the day of payout requests isn’t allowed: traders need to submit their payout requests and then not trade until the requested payout has been deducted from their accounts.
- Traders receive the Leeloo Performance account equivalent of their successful Practice account. For instance, if a trader has a $150,000 / 15 contract Practice Account, they will be granted a $150,000 / 15 contract Investor Leeloo Performance Account™.
- Leeloo allows traders to immediately trade up to the maximum number of contracts allowed, without the need for scaling. However, the maximum contract limit remains unchanged on this account. To increase the limit, an additional Practice account would be required.
Trailing Drawdown
Leeloo’s Rising Trailing Max Drawdown is a crucial risk management guideline. It adjusts the maximum drawdown threshold upwards based on the account’s highest unrealised profit, thereby ensuring compliance with Leeloo Trading’s risk parameters.
If an account’s balance falls to the predetermined drawdown limit from its peak profit, this could trigger automatic liquidation of positions in accordance with the firm’s rules. This protective measure is designed to track the account’s peak equity level, thus reflecting Leeloo’s commitment to strong risk management practices.
For instance, if an account reaches a peak of $103,000, Leeloo’s drawdown rule sets a $3,000 margin below this peak. A fall to $100,000 prompts activation of the threshold in line with the firm’s guidelines for automatic liquidation.
If the balance instead rises to $106,000, the drawdown adjusts to $103,000, maintaining a $3,000 buffer from the new peak. This exemplifies Leeloo Trading’s approach to safeguarding gains while facilitating continuous trading within set risk parameters.
The table below sets out the rising trailing maximum drawdown values for each account size:
| Account Size | Trailing Drawdown |
| $25K | $1,500 |
| $50K | $2,500 |
| $100K | $3,000 |
| $150K | $5,000 |
| $250K | $6,500 |
| $300K | $7,500 |
| $100K Express | $3,000 |
| $100K Static | $625 |
Leeloo Payouts
Leeloo Trading’s withdrawal and payout rules and policies outline the specific guidelines and procedures for traders seeking to withdraw their earnings from their trading accounts.
Payouts are processed without charge, with Leeloo covering any wire or PayPal fees. Nonetheless, fees imposed by trader’s financial institution for receiving the payout remain the trader’s responsibility. Payout requests are scheduled for the last Monday of the month, with payouts processed within the same last week of the month. Traders can request their first payout after a minimum of 30 trading days (once they have met certain targets). Subsequent payouts require 10 trading days per month.
Payouts are electronically transferred via wire transfer or ACH, with wires typically taking between five and seven business days, and ACH up to three days. In some circumstances PayPal may also be used, but it carries a maximum limit of $1,000.
There are no minimum or maximum restrictions on payout amounts. The first payout can be requested after 30 trading days, and payouts thereafter require 10 trading days per month. Traders retain 100% of the first $12,500 they generate in profits, with a 90% profit share thereafter. If a payout is requested before the account balance reaches $102,000, the minimum account balance limit is adjusted $100,100.
Multiple Accounts
Leeloo prop firm allows traders to trade as many as 10 accounts simultaneously, all consolidated under one Rithmic ID.
Trading Hours
The futures prop firm permits trading during the one-hour market close from 17.00 to 18.00 EST, as well as over weekends.
In Practice Accounts, positions can also be maintained through this period. However, for Performance Accounts, up to three micro contracts are allowed to be held during the close, while standard lots necessitate administrative approval.
In the absence of explicit permission, trades need to be settled 15 minutes prior to the closing time of each instrument’s market, such as 16.45 EST for ES and 14.05 EST for Corn (ZC).
Trading Platforms and Instruments
Leeloo Trading provides access to a wide range of financial instruments and markets to trade, including all CME (CME, CBOT, NYMEX and COMEX) futures assets, catering to the preferences of a diverse array of futures traders.
Traders partnering with Leeloo enjoy access to an extensive selection of asset classes across the permitted markets and instruments, listed below:
- Equity futures (e.g. E-mini-S&P 500 and E-mini-NASDAQ 100)
- Interest rate futures (e.g. 2-Year Notes and 10-Year Notes)
- Currency futures (e.g. Australian Dollar and Euro FX)
- Agricultural futures (e.g. corn and lean hogs)
- Energy futures (e.g. crude oil and natural gas)
- Metal futures (e.g. gold and silver)
- Micro futures (e.g. Micro-E-Mini S&P 500)
- Cryptocurrencies (e.g. Bitcoin and Ethereum).
Leeloo Trading is compatible with the following 15 trading platforms:
- Ninjatrader 7 / Ninjatrader 8 (complimentary license provided)
- Rithmic Pro
- EdgeProX
- Motive Wave
- Multicharts
- ATAS
- Finamark Systems
- Jigsaw Daytradr
- Trade Navigator
- VolFix
- Bookmap X-Ray
- Investor/RT (Linnsoft)
- Sierra Charts
- OptimusFLOW
Leeloo Trading’s mobile app offers traders a convenient way to trade from any location at the click of a button, as well as empowering users to monitor their trading progress and participate in competitions. This is an invaluable feature for traders with busy schedules, offering unparalleled accessibility and flexibility.
Leeloo Loyalty Program
The Leeloo Loyalty Program acknowledges and rewards loyal and accomplished traders. Through the program, traders accrue credits by purchasing subscription packages, which translate into attractive benefits, including complimentary resets and access to a free express practice account.
- Free 14-day trial for traders to explore the platform.
- Good range of account sizes catering to varying requirements.
- Attractive payout framework, with traders 100% of the first $12,500 they generate in profits, and a 90% share thereafter.
- Reduced reset fees of between $75 and $85.
- Flexible trading hours, with trading permitted during news events and market close.
- Lenient trading rules.
- Caters to a range of trading styles.
- Wide variety of funded account options.
- Mobile app offers increased accessibility.
- Traders can only withdraw profits once each month, which is fairly restrictive.
- 10-day evaluation period.
- Caters solely to futures traders, with no option to diversify beyond futures.
- Lack of a dedicated Discord channel.
Conclusion
Leeloo Trading is renowned for its helpful and efficient customer support, lenient trading rules and enticing payouts. The futures prop firm provides a diverse range of account sizes, starting at $25,000 and reaching as high as $300,000, alongside distinctive bundles tailored for traders.
Absence of educational resources and a monthly withdrawal notwithstanding, the firm’s simple rules – including the trailing drawdown and profit targets – make it an appealing proposition. Leeloo’s dedication to transparency and the welfare of its traders is evident through its compatibility with trusted platforms like NinjaTrader and Rithmic, and its provision of multiple account options cements its reputation as a reliable prop trading firm.
If everything you’ve read makes you want to explore Leeloo Trading further, clicking on the logo below will take you to the firm’s website, where you can take the first – or next! – steps in your futures funded trading journey.
Additionally, we would recommend gauging the pros and cons and compare the prop firm to its competitors. Leeloo Trading has many competitors, including industry leaders Topstep, Apex Trader Funding, and MyFundedFutures. Each of these futures prop firms offer access to multiple account sizes for undercapitalized and aspiring futures funded traders, enabling them to perform in the futures markets. Like Leeloo, these prop firms grant you access to sophisticated trading platforms and futures contracts as well as offering attractive payout structures.
To learn more, get all the insights you need in our comprehensive reviews:
Leeloo Trading FAQs
How do I sign up?
- Choose the practice account of your choice, i.e. $25k Aspire (3 contracts), $50k Launch (8 contracts), etc.
- Click “Buy Now” (Make sure you sign up with your full name exactly as it reads on your government issued identification; do not use a fake name or a nickname; if you qualify for a PA, you must submit government issued identification)
- Follow the steps to purchase the practice account and create an account with Leeloo Trading
- Once payment is complete, your account will be created. Please allow up to 15 minutes to receive an email containing your credentials.
- A video tutorial is available here
How much are the Performance Account Fees?
Once you qualify for a Performance Account, there are two options available.
- The monthly subscription is $88 per month per Performance Account
- The one-time fee is $250 per Performance Account
Trading frequency must be carefully considered when deciding between the monthly subscription and the one-time fee.
The one-time fee is designed for active traders that will trade their Performance Account a minimum of 12 trading days each calendar month. Deliberately placing minimal trades only to count as a trading day or keep a near-depleted account active, is not permissible.
How do I qualify for a Performance Account?
- Meet your Profit Target while Managing Risk (do not let your account meet the drawdown).
- Trade for a minimum of 10 active U.S. Traded days.
Check your traded days by downloading the Leeloo mobile app…
Can I have multiple accounts at the same time?
Yes. Traders are allowed to maintain multiple practice and Performance Accounts simultaneously.
Traders are only allowed one Rithmic ID. When purchasing additional practice accounts, make sure to login with your Leeloo account credentials. This ensures all your accounts are associated with the same Rithmic ID.
What are the rules for a Performance Account (PA)?
Trading Rules for Performance Accounts (PA)
What are the key rules for Performance Accounts?
1. 30% Rule: Daily profits in a PA should not exceed 30% of the net profit from the initial starting balance, promoting responsible risk management and consistent trading growth.
2. No Flipping Policy: Engaging in trades just to meet minimum activity requirements is discouraged. In PAs, less than 5% of trading days should be ‘flipping’ days.
Read more here: https://support.leelootrading.com/kb/a190/understanding-the-30-rule-for-performance-accounts.aspx
3. Don’t reach the Max drawdown.
Definition: The Limited Trailing Minimum Account Balance (LTMAB) or Auto Liquidate Threshold Value (ALTV) is a rising trailing max drawdown that tracks your open equity intra-trade, based on the unrealized highest profit point in your Practice Account.
Max Drawdown Example: For an 8 contract account, the assigned max drawdown might be $2,500.
Operation: This limit trails your highest unrealized profit throughout the Practice Account’s life. If this threshold is met, your position will automatically liquidate, resulting in the loss of the Performance Account.
Consequences of Meeting LTMAB/ALTV:
Auto Liquidation: Upon reaching the LTMAB/ALTV, you’ll see a message indicating restricted trading, with only administrators able to place orders.
Read more: https://support.leelootrading.com/kb/a44/rising-trailing-max-drawdown-explained.aspx
4. Don’t hold more than 3 micros at the close of the market.
Up to 3 micros can be held through close without permission. For standard lots or more than 3 micros, admin approval is required, with sufficient profit to cover Maintenance Margin.
Unapproved holding of more than 3 micros can result in account closure and loss of balance.
Trades must be flat 15 minutes before market close, unless admin permission is granted.
Read more: https://support.leelootrading.com/kb/a103/2_-holding-positions-during-the-close.aspx
5. Do not copy trade another user, to not have another user trade your account.
6. No SIM Abuse allowed.
