Lux Capitals is a forex and CFD broker that claims to offer a wide range of trading products and services. However, there are a number of red flags that suggest that Lux Capitals is a scam broker.
Company Overview
Lux Capitals was founded in 2010. According to their website, after starting in 2010, they expanded their services with some other trades in 2012. They are registered in Seychelles. The fun fact comes regarding their authenticity. The next section will show you the details
Does Lux Capitals Have Any License?
Is Lux Capitals Regulated By Any Authority?
Lux Capitals is not regulated by any reputable financial regulatory authority. We searched with FCA to find the regulation as their legal department is in the UK. Then also we tried with FINMA– the financial regulatory organization of Switzerland to find their regulation as they are located there. But, we also found nothing there.Lux Capitals Pros and Cons
Pros:
- The minimum deposit is low.
- A trading platform is easy to use.
- The spreads are competitive.
Cons:
- The broker is not regulated.
- There is no information about the company’s headquarters or management team.
- There have been numerous complaints about the broker’s customer service.
How Does Lux Capitals Reach To Their Prey?
Lux Capitals reaches out to potential investors through a variety of channels, including online advertising, social media, and cold calling. The broker’s marketing materials are often misleading and deceptive, making it difficult for investors to understand the risks involved in trading with Lux Capitals.Technical Details of Lux Capitals
Minimum Deposit:
The minimum deposit requirement at Lux Capitals is $5,000 for their Basic account. This is quite high.Trading Platform:
Lux Capitals offers a web-based trading platform that is powered by Tradeview. The platform is easy to use and offers a variety of features, including charting, technical analysis tools, and order execution capabilities.Spread:
The spreads at Lux Capitals are competitive. The average spread for the EUR/USD currency pair is 1.0 pip.Leverages:
Lux Capital offers high leverage levels. The maximum leverage available is 1:500. However, it is important to note that high leverage can magnify losses as well as profits.Packages and Products They Offer
Lux Capitals offers a variety of trading packages, including Basic, Silver, Gold, Platinum, VIP, and Invitation Only accounts. The standard account is the most basic account and offers the lowest spreads. The VIP account offers lower spreads and more trading features.
Withdrawal and Deposit Method
They offer a variety of deposit and withdrawal methods, including credit cards, debit cards, wire transfers, and cryptocurrency. The minimum withdrawal amount is $250.
What Do Their Previous Traders Say?
There have been numerous complaints about Lux Capitals from previous traders. These complaints include problems with withdrawals, account closures, and fraudulent trading activity.
Summing Up- Why Should Not You Trust Lux Capitals
There are a number of reasons why you should not trust Lux Capitals. The broker is not regulated, there is no information about the company’s headquarters or management team, and there have been numerous complaints from previous traders. If you are considering trading with Lux Capitals, I urge you to reconsider. There are many reputable brokers that offer legitimate trading services.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Lux Capitals, you may be able to get your money back through a quick and good decision. You can contact us for a quick solution such as a free consultation call. In this call, we will discuss the recovery options and will provide you some recommendations,
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Final Thoughts
Lux Capitals is a scam broker that should be avoided. If you are considering trading with Lux Capitals, we urge you to reconsider. They are not licensed or regulated, require a high minimum deposit, etc.
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