LeseUp Review 2024

LeseUp Review 2024

Established in 2022, LeseUp Trading is a proprietary trading firm already starting to revolutionise the landscape for aspiring traders. Based in the centre of Toronto’s financial district, the firm is tailored exclusively towards futures traders. Its assessment process has been carefully crafted to identify skilled traders with a knack for futures trading as well as the ability to effectively manage risk. Those who succeed are rewarded with substantial levels of capital with which to capitalise on their skills, generate bigger profits, and advance their careers, while LeseUp assumes the financial responsibility.

If you are an aspiring funded futures trader looking to take your trading performance to the next level, LeseUp could become your gateway to unmatched trading success. As a trader-funded account company, LeseUp Trafing is committed to helping futures traders accomplish their goals. With their premium-funded trader programs and flexible plans, the prop firm aims to bring futures traders closer to their aspirations.

LeseUp Evaluation

The LeseUp evaluation phase evaluates trading capabilities and proficiency in managing risk, with those who pass it receiving funding with which to trade.

Evaluation accounts are tiered, with options ranging from $25,000 to $100,000. Each tier comes with its own set of criteria, including minimum balance requirements, maximum allowable losses and minimum trading days.

Traders who successfully complete the evaluation gain access to a LeseUp Performance Account, enabling them to trade in live markets using the firm’s capital. Traders retain the entirety of their first $10,000 in profits. The profit share subsequently moves to 90%, with LeseUp Trading the remaining a 10%.

Evaluation accounts have a simple model, in which traders are required to maintain a balance above the minimum threshold and trade for at least 10 days (lower trading days requirements are available with other prop firms such as Apex Trader Funding , Topstep , and MFFU). These rules are designed to check that traders can effectively manage risk while simultaneously maintaining a positive account balance. Traders also need to ensure their account balance remains within the designated stop loss limit and that they refrain from holding more than three micro contracts overnight.

Below are the details of LeseUp’s evaluation accounts.

LeseUp Performance Account

When your Performance Account is activated, the balance will be set to the starting balance of your Evaluation Account. The rules are as follows:

• Trade for a minimum of 20 days (with non-trading days not included in this count).

• Reach a minimum balance, known as the “Threshold”, in order to withdraw profits. The threshold varies according to which Evaluation Account you choose. For example, for a $50,000 account, the account goal would be $52,600: $50,000 plus $2,500 plus an extra $100. Once the threshold is reached, you can withdraw profits according to the “Fund Withdrawal” scale outlined in the agreement.

• Maintain your Performance Account, having chosen from the payment options in the table below.

Performance Account	Monthly Payment	Single Payment
$25,000 account	$50	$120
$50,000 account	$50	$120
$100,000 account	$80	$200

Hybrid Balance Drawdown

There is a hybrid drawdown system in place for all activated accounts. Until the threshold is reached, balance drawdown is dynamic, adjusting in line with the maximum account balance at the close of the trading day. However, once the threshold is achieved, the balance drawdown becomes static, set at the threshold value. For instance, the balance drawdown for a $50,000 account is initially $47,500 and varies based on the highest closing balance recorded each day. Upon reaching $50,100, the balance drawdown is static.

Consistency rules for Performance Accounts

Evaluation Accounts don’t have any consistency rules. Performance Accounts have a 30% profit rule and a 20% flipping rule, so that LeseUp can ensure its traders adhere to a consistent trading plan and size, demonstrating steady account growth. Under the 30% profit rule, if the profit balance exceeds 30% on any given trading day, traders just need to keep trading consistently with their daily plan until this percentage is no longer surpassed. They can then request a payout on the next available date. The rule aims to discourage traders from strategies where they make large withdrawals fast, and instead promote consistent, systematic trading. It’s not intended to hinder the performance of traders with a history of trading consistently who make significant gains.

Traders should also not exceed 20% of their trading days defined as “flipping”: rapidly changing strategies or positions. Again, this is because LeseUp places an emphasis on consistent trading practices in which traders stick to a single strategy.

Performance Accounts must be traded by the individual named on the account and the corresponding PA Agreement, and not by anyone else.

There are some other rules to take into account, listed below:

• Automation: Automated trading is not allowed in any form on Performance Accounts. This includes the use of AI, algorithms, HFT and trading bots.

• News trading: LeseUp does not permit news trading of any form.

• Trading days: Traders can’t simply execute a quick trade with one micro lot and trade for only a few seconds to fulfill the requirement of a trading day on their Performance Account. Such trades won’t be counted as valid trading days during the payment application review. Traders need to use the same trading scheme they have been operating with; switching to different schemes just to fulfill the requirement is not allowed.

• Simultaneous funded accounts: Traders can have up to two funded accounts simultaneously. If you have more approved Evaluation Accounts above this limit, they will remain on hold in case one of your funded accounts is closed. This means you won’t have to repeat the evaluation process.

• Swing trading: Swing trading is not allowed, and LeseUp will automatically close any account that violates this condition.

• Overnight: LeseUp also prohibits the holding of positions overnight, meaning traders need to close all positions just before the markets close for the weekend and during daily market closure.

If a trader violates any of the rules outlined above (which are also detailed in LeseUp’s “knowledge centre” and in traders’ Commercial Agreement), they will not qualify for any payments or refunds.

Trailing Max Drawdown

The trailing maximum drawdown is adjusted within each trade, adapting in real time as your account balance increases (even during active positions). However, if your balance decreases, the trailing minimum stays the same.

For instance, if your account has four contracts, the maximum allowable drawdown is set at $1,500. This means that including any fees or commissions, your account’s losses shouldn’t exceed $1,500, calculated from the peak of your account balance.

Static Drawdown Reduction

The Static Drawdown Reduction is an exclusive feature for LeseWallet users. To make use of this, you add money to your LeseWallet and purchase your account with Static Drawdown, which will then activate Static Drawdown Reduction automatically.

Ensuring you have a good understanding of LeseUp’s rules and requirements help you to optimise the benefits offered by the firm’s Evaluation Accounts and refine your trading strategies accordingly.

LeseUp’s Withdrawal Process

LeseUp’s profit withdrawal framework is adaptable – just bear in mind that to qualify for withdrawals, traders need to meet the threshold requirement as described earlier, as well as fulfil the minimum trading days criteria.

You’ll find all the details of the payout policy in your contract, and we also take you through it below.

In the first three months:

• There are fixed withdrawals of $1,000 once every month, with traders receiving the full amount minus any transfer fees or bank charges.
• Individual withdrawals of $500 can be made twice each month, again with traders receiving the full amount minus any transfer fees or bank charges.
• Flexible withdrawals of $200 can be made without limit, but traders only receive a 50% share. For instance, if you were to withdraw $200, you would receive $100 (minus any transfer fees or bank charges), with LeseUp keeping the remaining $100.

In the fourth month:

• There is a fixed withdrawal of $1,250 once every month, with traders receiving the full amount minus any transfer fees or bank charges.
• Individual withdrawals of $625 can be made twice each month, again with traders receiving the full amount minus any transfer fees or bank charges.
• Flexible withdrawals of $500 can be made without limit, but traders only receive a 50% share. For instance, if you were to withdraw $500, you would receive $250 (minus any transfer fees or bank charges), with LeseUp keeping the remaining $250.

From the fifth month onwards:

• Traders can withdraw as much as they wish with no limits, so long as they maintain the threshold.

Requesting a Withdrawal
Requesting a withdrawal entail submitting a ticket to LeseUp’s Help Desk with the subject line “Performance Benefits Payment”. It’s typically processed within 24 hours, and traders shouldn’t trade again until they’ve received confirmation that their balance has been adjusted accordingly.

Payment Methods
Withdrawals of less than $2,000 are made through PayPal, and anything larger is facilitated through an international transfer.

Do bear in mind that while these guidelines will give you a general idea of LeseUp’s payout policy, it’s also a good idea to check the specific terms outlined in your contract, getting in touch with the firm’s customer service team for any queries.

LeseUp Trading Platforms

LeseUp partners with NinjaTrader, TradingView and Tradovate, all trading platforms with distinct features that contribute to the success of the prop firm’s traders.

• Tradovate’s intuitive interface and advanced cloud-based software enables traders to trade seamlessly across both desktop and mobile devices. The platform’s centralised infrastructure means that trades are executed incredibly quickly, and sophisticated charting and analysis tools make market research a much easier business.

• Ninja Trader is known for its versatility, allowing traders to hone their strategies and test them using historical data. The platform’s trade simulation feature enables traders to refine their techniques without risking real capital. It also offers first-rate educational materials.

• TradingView works well for traders of all experience levels. The accessible platform is equipped with a wealth of tools (all provided free of charge), from charts and technical indicators through to innovative analysis features. Seasoned traders in particular will value the extensive market data, which covers macro trends and small details alike.

LeseUp’s partnership with these industry leading platforms ensures traders have all the necessary tools to analyse markets in greater depth, gain a competitive advantage and unleash their full profit-making potential.

LeseUp Prop Firm’ Pros & Cons

Conclusion

LeseUp’s funded accounts are suitable for all futures traders, from newcomers to the prop trading industry through to experienced professionals, with accessible funding programs and transparent guidelines. The firm offers traders a substantial profit share (all of their first $10,000 in profits and 90% thereafter), ensuring they get to fully enjoy the fruits of their labour. Furthermore, LeseUp’s partnership with a number of leading trading platforms underscores its dedication to assisting its traders in reaching their goals. While the firm’s Trustpilot score is currently relatively low, it definitely demonstrates significant potential.

By signing up with LeseUp prop firm today, you’ll gain access to a comprehensive set of resources essential for succeeding as a futures trader. However, it’s important to note that some of the leading futures prop firms such as Topstep Trader are providing educational tools and personalized trading stats to help traders become a smarter and more disciplined in order to achieve a Funded Trader status.

If you’d like to learn more about industry-leading futures prop trading firms, take a look at our Prop Firm Plus reviews, including these ones of Apex Trader Funding Review 2024, Topstep Review 2024, and MyFundedFutures Review 2024.

LeseUp Trustpilot

LeseUp FAQs

The 30-Day Billing Cycle

The 30-day billing cycle is automatically renewed every 29 days regardless of the account status, until you decide to cancel or upgrade your account

Renewal Charges and Account Balance

The balance is not reset for any reason on evaluation accounts. If you failed your account before the expiration of the month, do not forget to cancel it to avoid further charges

Using Someone Else’s Card to Pay Fees

No, you cannot use someone else’s card. All fees, including those for evaluation accounts, performance accounts, performance account resets, LeseUp membership, and any other services offered by LeseUp, must be paid using your own card.

Passing the Evaluation and Subsequent Billing

If you have successfully passed your evaluation (reached the target profit and traded for a minimum of 5 days) but are due for a monthly charge the next day, you should immediately stop all trading activities and submit a ticket to the Help Desk titled “Goal Achieved”. This will be processed within 24 business hours. LeseUp will validate your passed evaluation and, if confirmed, will cancel your impending monthly charge. If the charge was already made, they can reverse it, as long as it is confirmed that the account actually passed one day earlier. However, if the charge occurs on the same day as your evaluation pass, a refund cannot be processed. Remember that a trading day runs from 6 PM one day to 4:59 PM the next day.