Lux Trading Firm Review: What We Know About the Company
Lux Trading Firm is a proprietary company incorporated in the United Kingdom. Proprietary companies provide traders with capital that they use to make profits, from which the company takes a cut.
It means that the company is liable to ensure substantial capital as well as a trading platform. In this case, the broker that provides the trading platform is Global Prime. So is this particular company reliable and can you make profits with it? Find out in our Lux Trading Firm Review.
|Regulated by:||No regulation|
|Is This Company Safe?||Issues are possible|
|Have Warnings from:||N/A|
|Registered in:||UK, Slovakia, Montenegro|
|Trading Platforms:||MT4, TradingView, Trader Evolution|
|Minimum Deposit:||149 GBP|
|Trading Assets:||Forex, indices, commodities, stocks, bonds, cryptocurrencies|
|How to Withdraw from This Company?||Since this company is unlikely to return your money – contact your bank, Financial Regulator, or simply Reach out to us for professional assistance in recovering your funds.|
Is Lux Trading Firm Legit?
LuxTradingFirm was founded in 2021 in London. In order to get LuxTrading Firm funding, traders first have to complete the evaluation process.
Since Lux Trading Firm is a proprietary company, it does not require a license, i.e. this type of business is not regulated. We based this analysis on what the company offers on its website and what traders wrote on the forums.
We want to prove that issues may still appear regardless of the company’s status. It is important to know what to do if things go south, i.e. if you lost money in a fishy way. Issues may arise on the broker’s side, which is why it’s important that the provider is legit and not a scheme like investo-capital.
Trader Reviews – Sharing Experiences
What do traders think about Lux Trading Firm? We went over to the Lux Trading Firm trustpilot page to find out. At the time of this writing, the company had 473 reviews and an average score of 4.4 (excellent).
However, there are some complaints as well. One common theme in all of the negative reviews is poor customer support. Traders seemingly also had problems with the Lux Trading Firm rules.
Better look for another trading firm since this trading firm can’t even keep up their dashboard and system. if that is error, it is not their fault. Also be careful when they change their broker. Something weird can happen. it is hard for you to check you trading history too.
- Trustpilot user, June 27, 2023.
The company sent out an email blast today telling people that they are giving away a few live accounts for reviewing them on this site. If its real money, then they are essentially 30,000 USD total for this marketing scheme…
- Trustpilot user, December 15, 2021.
Global Prime, the broker that provides the platform, also received backlash from traders on trustpilot.com. This should be taken into account if you’re still interested in this company.
Global Prime is licensed in Australia, Seychelles and Vanuatu but not in the EU. Having a European company granting access to Forex trading provided by a brokerage not authorized in Europe may not be such a good idea.
Where Does Lux Trading Firm Operate?
According to godaddy.com/whois, the website domain was created on December 11, 2020. Since then, the company has been offering its proprietary services mainly to traders from the following countries:
- South Africa.
To reiterate, the company does not require a license to operate in these domains. Still, you have to be careful since trading goes through a not-so-reputable offshore broker. The company’s website is misleading and full of broken links as well.
For instance, the Lux Trading Firm Login page does not offer a registration option. On the home page, all the registration links simply scroll the page either up or down. Not something you’d want from a company that you’re about to trust with money.
If you are a victim of the Lux Trading Firm Scam, book a consultation with us. We are here to help.
According to Lux Trading Firm’s website, there are many tradeable instruments from the following main asset classes:
- Forex currency pairs – EUR/USD, GBP/USD, AUD/CAD…
- Indices – S&P 500, FTSE 100, NIKKEI 225…
- Commodities – gold, silver, oil…
- Stocks – Tesla, Microsoft, Apple…
- Crypto – BTC, ETH, LTC…
Trader Account Types
To become a trader at Lux Trading Firm, you must choose an account type and start the evaluation process. Each account features an Evaluation and Advanced stage; you’ll have to reach the profit target to pass each step and access a live funded account.
The Evaluation stage is performed on Global Prime demo accounts, where clients trade with virtual funds based on real market data. From the third scaleup stage, a trader moves to a real account. Restrictions on all account types are the same.
- 25,000 USD – enrollment fee: 149 GBP, profit target: 6%, maximum drawdown: 4%, profit share: 75%, account size scaleup stages: 9;
- 50,000 USD – enrollment fee: 299 GBP, profit target: 6%. maximum drawdown: 4%. profit share: 75%. account size scaleup stages: 8;
- 100,000 USD – enrollment fee: 449 GBP, profit target: 6%. maximum drawdown: 4%. profit share: 75%. account size scaleup stages: 7;
- 200,000 USD – enrollment fee: 599 GBP, profit target: 6%. maximum drawdown: 4%. profit share: 75%. account size scaleup stages: 6.
Having issues with withdrawing funds from Lux Trading Firm? We can help you recover your funds.
Trading Platform, Leverage, Spreads & Fees
The trading platforms offered by Lux Trading Firm provide different features and tools for all tiers of traders. Traders can utilize MetaTrader 4, Trading Evolution, and TradingView.
MT4 is a popular trading platform. It features advanced technical analysis tools, real-time market data and news feeds, automated strategies, and backtesting capabilities. The platform is also easy to use and has a user-friendly interface.
The particular trading costs are not high – Global Prime provides tight spreads as the EUR/USD difference is 0.16 pips on average, i.e. competitive. As for Lux Trading Firm leverage, it can be as high as 1:30.
Each prop Forex firm imposes profit targets, drawdown limits and profit split ratio. The drawdown limit is the maximum loss possible, and as was the case with Interactive Trading Broker, Lux Trading Firm’s requirements of 4% are not favorable at all. Other proprietary companies allow losses of up to 12% and even more.
The profit split also cannot be considered favorable for the trader. The company’s maximum share is 75%/25% in favor of traders, while other proprietary firms split it 90%/10%.
Lux Trading Firm’s Elite accounts allow clients to get as much as 10,000,000 USD for trading. The conditions are much better, but the price is set pretty high at 1,999 GBP, which is the minimum amount. These account tiers are not suitable for inexperienced traders.
Lux Trading Firm offers several funding options for deposits:
- Credit/debit cards (MasterCard, Visa);
- Wire transfers;
- Crypto (Coinbase).
To begin the evaluation process, traders are required to make a one-time payment ranging from 149 GBP to 599 GBP. After completing each stage, 50% of that amount is refunded.
As for withdrawals, they are no related fees. The company’s profit split ratio is 75%/25%. Withdrawal requests can only be submitted once per month, which may be a problem. Also, traders can only withdraw funds via wire transfers and cryptocurrencies.
I Lost Money To Lux Trading Firm, What Should I Do?
To sum up, Lux Trading Firm is a UK-based proprietary company that offers traders a hefty trading capital if they successfully pass the evaluation process.
Lux Trading Firm is partnered with the Global Prime broker, which provides the MT4 trading platform for Forex and CFD trading. Although Lux Trading Firm seems like a decent company, more suitable for advanced traders, there are several things you need to look out for.
In our review, we have explained what this company offers and what are the downsides of its way of doing business.
If you think you’ve been scammed by this company, please book a free consultation with our team and share your experience. We can help you get your money back but you must act quickly!
If this company stole your money, contact us for help and initiate the chargeback process.
What Is Lux Trading Firm?
Lux Trading Firm is a UK-based proprietary company. It offers clients trading capital. The profits traders make are then split 75%/25% in favor of the trader.
What Is The Leverage Offered By Lux Trading Firm?
The maximum leverage that Lux Trading Firm offers is 1:10, which is actually in line with the regulatory limit in Europe (1:30) for Forex trading.
Is Lux Trading Firm Regulated?
No. Proprietary companies do not require regulations. If you believe you’ve been tricked, call us for help.