Review of a Platform That Claims to Offer Leveraged Trading… But Doesn’t!

After several exchanges with this platform’s support team, one thing has become painfully clear: they have a very creative understanding of leveraged trading.

On one hand, they promote leverage as a tool that amplifies both gains and losses, allowing traders to open larger positions with less capital. So far, so good—that’s how leverage is supposed to work. But when you dig deeper and ask how leverage is actually applied in their profit and loss calculations, their answers suddenly become vague… or outright incorrect.

The support team provided the following formula to explain their PnL calculation:
• Long position: (Closing price – Average purchase price) × Quantity
• Short position: (Average purchase price – Closing price) × Quantity

This formula, however, is simply the profit/loss calculation for spot trading, meaning it does not account for leverage at all. In margin or futures trading, leverage must be explicitly factored into the final calculation, which is clearly missing here.

When confronted with this discrepancy, support avoids giving a straight answer, never explaining exactly where and how leverage is applied in their system. This leaves us with two possible explanations:
1. They don’t understand their own platform and are unable to explain how their leverage system actually works. If that’s the case, it raises serious concerns about their reliability and competence.
2. They know exactly what they’re doing and are intentionally hiding the fact that their so-called “leverage” is nothing but an illusion. In other words, traders believe they are using leverage, but their profits and losses are calculated as if they were trading without it—essentially a form of deception.

Either way, this is a huge red flag. A platform offering such a high-risk financial product should be able to explain how it works clearly. If they can’t—or won’t—then traders should stay far away.

And if they continue insisting that their formula already includes leverage, then they need to explain where it is hidden… because right now, this looks much more like a scam than a legitimate trading service.

Solid Evidence to Back It Up

It’s important to emphasize that my argument isn’t based on speculation—it’s backed by hard evidence. The proof is right there: the formula provided by the platform’s support is the exact same profit/loss formula used in spot trading, with no mention of leverage. There is no ambiguity here, no room for misinterpretation. This is basic math.

Yet, despite this, support responds in a condescending manner, as if I needed a beginner’s lesson on trading. They casually remind me that “leverage allows traders to open larger positions” (thank you, but any serious trader already knows this) while deliberately avoiding any explanation of how it is applied in their PnL calculation.

It’s a classic tactic: divert the conversation, make the client doubt themselves, and avoid giving a direct answer. This is nothing more than an intellectual intimidation strategy designed to cover up a major flaw in their system.

But numbers don’t lie. If they were truly confident, they could easily provide a step-by-step explanation, with real calculations, proving how leverage is applied. Yet, they can’t.

Analysis Based on Real Transactions

For those who think I might be misinterpreting something, let me be clear: my findings are based on real data.

I carefully downloaded and analyzed the detailed history of over 100 orders placed on the platform. I compared price movements, profit/loss calculations, and position sizes. The result? At no point did the alleged leverage have any impact on the final PnL. The numbers consistently matched a standard non-leveraged trade, just as if I were trading in a spot market.

In other words, the numbers speak for themselves. This isn’t a theory, this isn’t a misunderstanding—this is a verified mathematical fact.

Despite this, support continues their condescending approach, acting as if I simply don’t understand how leveraged trading works. They repeat the basic definition of leverage without ever answering the critical question: where exactly is leverage applied in the PnL calculation? Their refusal to give a direct answer only confirms what my data already shows: there is no real leverage on this platform, or it is deliberately hidden.