Leeloo Trading - Prop Firm Review

Pricing snapshot

Company and regulation

Leeloo Trading (leelootrading.com, based in Montana, USA, operating since 2019) is one of the longest-running US futures prop firms. It is unregulated and not a broker, and its accounts are fully simulated at every stage - unusually, it says so very plainly. Direct from its own materials: “Leeloo Trading are not a broker and do not accept deposits”; “traders receive simulated accounts with virtual capital in all stages”; and payouts “should be considered hypothetical,” with a prominent CFTC Rule 4.41 hypothetical-performance disclaimer. Trading is futures only (CME minis and micros) via Rithmic, with a wide choice of platforms (Rithmic R|Trader Pro, NinjaTrader, Sierra Chart, Bookmap and more).

The rule that defines it: “not a profit split”

Leeloo’s defining framing is its refreshing (and revealing) honesty about what it is. It explicitly states the arrangement is “NOT a profit split”: a trader may receive 100% of the first $12,500 in simulated profits, then 90% thereafter, described as a discretionary release of simulated profits “for company risk mitigation.” On its face the 100%-then-90% structure is generous, and being upfront that nothing is ever real money puts Leeloo ahead of firms that blur the line.

The important corollary is that, because payouts are a discretionary release of hypothetical profits, they are gated behind subjective, non-quantified consistency rules: a 30% rule (a single day’s profit can’t exceed 30% of net profit from the starting balance), an anti-“flipping” rule, a ban on “home-run” trades, and “Profit Guarding” - all applied at Leeloo’s sole discretion, with Rithmic’s data treated as the final authority. That combination - generous headline numbers, but discretionary, loosely-defined payout gates - is the single most important thing to understand, and it is the source of most trader complaints. Trade conservatively and consistently, and don’t rely on one big day.

Products, payouts and drawdown

Leeloo sells a monthly Practice Account evaluation that converts to a Performance Account (PA), with sizes from $25k to $300k (e.g. Aspire $25k at $250/month up to Explode $300k at $850/month), plus various bundles and speed add-ons (“Edge Enhancer” for 1/10/15-day qualification). Evaluation accounts are a recurring monthly subscription; the Performance Account is $88/month or a $250 one-time fee.

Drawdown is an intraday trailing threshold (Leeloo’s “trailing minimum account balance”) that follows your highest unrealised equity peak and auto-liquidates the position and ends the account if hit - there is no daily loss limit (marketed as flexibility, but the intraday trail is strict). Per-size trailing drawdown runs from about $1,500 on a $25k up to $7,500 on a $300k. Payouts are email-requested and manually reviewed (dashboard requests are no longer accepted), paid via Rise; timing varies by product (e.g. after 30 traded days then every 10 on standard accounts, or after 5 winning days on Turbo). Some product lines cap payouts (e.g. $5,000-$6,500 or three payouts on certain Elite tiers). Execution rules are strict: you may hold only three micros through the close without approval, and must be flat 15 minutes before close.

Contradictions and cautions

• “Earn real money” / “real payouts” marketing vs its own statement that accounts are simulated “in all stages” and payouts are hypothetical.
• “Simple Rules” vs a dense, discretionary rulebook (30% rule, no-flipping, Profit Guarding) that is not precisely quantified.
• “No Daily Drawdown” promoted as freedom vs an intraday trailing threshold that can auto-liquidate mid-trade.
• Restructuring: several legacy programs are marked “being phased out,” so confirm what’s currently on offer.

Verdict

Leeloo Trading has real strengths: it’s a long-established (2019) US futures firm, unusually honest that everything is simulated, with a wide platform choice and a genuinely generous headline structure - 100% of your first $12,500, then 90%. For a disciplined futures trader who values transparency about the model, it’s a credible option.

The trade-offs are the discretionary payout rules and the current transition. Because the payout is a discretionary release of simulated profits, it’s gated behind subjective rules (the 30% rule, no-flipping, no home-runs, Profit Guarding) that are the main source of complaints; the drawdown is an intraday trailing auto-liquidation; evaluation accounts are a monthly subscription; and the firm is phasing out legacy programs. Trade conservatively, keep any single day well under the 30% rule, confirm the current product line-up, and it’s a fair, transparent choice; just don’t expect the discretionary rules to be as “simple” as the marketing suggests.

Frequently Asked Questions

Is Leeloo Trading regulated, and is the capital real?

Leeloo Trading, based in Montana and operating since 2019, is unregulated and is not a broker. Its accounts are fully simulated at every stage: it states plainly that traders receive simulated accounts with virtual capital in all stages, that it does not accept deposits, and that payouts should be considered hypothetical, with a prominent CFTC Rule 4.41 disclaimer. Trading is futures only, on CME minis and micros via Rithmic.

Why does Leeloo say it is not a profit split?

Leeloo explicitly frames its arrangement as not a profit split. You may receive 100 percent of your first $12,500 in simulated profits, then 90 percent thereafter, described as a discretionary release of simulated profits for company risk mitigation. Because it is discretionary rather than a contractual split, payouts are gated behind subjective consistency rules applied at Leeloo sole discretion.

What are the Leeloo payout rules?

Payouts are gated behind subjective, non-quantified rules: a 30 percent rule where a single day profit cannot exceed 30 percent of net profit from the starting balance, an anti-flipping rule, a ban on home-run trades, and Profit Guarding. Requests are email-only and manually reviewed, paid via Rise, with timing varying by product and some Elite tiers capping payouts. These discretionary gates are the main source of trader complaints.

What is the Leeloo drawdown model?

Leeloo uses an intraday trailing threshold, its trailing minimum account balance, that follows your highest unrealised equity peak and auto-liquidates the position and ends the account if hit. There is no daily loss limit, which is marketed as flexibility, but the intraday trail is strict. Per-size trailing drawdown runs from about $1,500 on a $25k account up to $7,500 on a $300k.

How much does Leeloo Trading cost?

Evaluation (Practice) accounts are a recurring monthly subscription, roughly $250 to $850 depending on size, and the Performance Account is either $88 per month or a $250 one-time fee (the one-time option requires trading at least 12 days a month). Resets are $85. Note this is a subscription model rather than a single one-time challenge fee.

Is Leeloo Trading still operating normally?

Yes, it is operating and still selling accounts, but it is visibly restructuring: several legacy programs are marked as being phased out with new offerings said to be coming, while existing accounts remain active. Payout friction is a recurring complaint theme across review sites, tied to its discretionary rules, so confirm the current product line-up and rules directly and trade conservatively.

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