Lucrado Forex Broker

LucradoReview Summary Founded2019 Registered Country/RegionMarshall Islands RegulationNo regulation Market InstrumentsForex, indexes, commodities, stocks, CFDs, cryptocurrencies Demo Account❌ LeverageUp to 1:600 Spread/ Trading PlatformWeb trader, mobile APP Minimum Deposit$250 Customer SupportContact form Tel: +56225952934 (Chile); +50641053729 (Costa Rica); +525593170983 (Mexico); +5078322491 (Panama); +50223028466 (Guatemala); +50321133421 (El Salvador); +5117085444 (Peru) Email: support@lucrado.com Address: Trust Company Complex, Ajeltake Road, Ajeltake Island Majuro Marshall islands Lucrado was registered in 2019 in Marshall Islands, specializing in different types of markets such as forex, indexes, and cryptocurrencies. It provides three types of accounts, with a minimum deposit of $250 and a maximum leverage of 1:600. However, it should be noted that Lucrado is not regulated, and potential risks cannot be ignored.Pros and Cons Pros Cons Diverse tradable assetsLack of regulation Multiple channels for customer supportNo demo accounts Popular payment optionsNo MT4 or MT5Is Lucrado Legit? No, Lucrado is not regulated by financial regulatory authorities in Marshall Islands, which means the company lacks regulation from its registration site. Please note the potential risks!What Can I Trade on Lucrado? Lucrado provides several types of products, including forex, indexes, commodities, stocks, CFDs, and cryptocurrencies. Tradable Instruments Supported Forex✔ CFDs✔ Commodities✔ Indexes✔ Stocks✔ Cryptocurrencies✔ Bonds❌ Options❌ ETFs❌Account Type Lucrado offers three types of accounts: Essential, Standard, and Premium Account. However, it does not mention whether a demo account is available or not. Besides, details such as spread and commission fees are not clear. Account TypeDeposit CurrencyMinimum DepositMaximum Leverage Essential AccountUSD, EUR, GBP$2501:200 Standard AccountUSD, EUR, GBP$5,0001:400 Premium AccountUSD, EUR, GBP$10,0001:600Leverage The leverage can be up to 1:600, which is not low. Traders need to consider carefully before investing, since high leverage is likely to bring high potential risks.Trading Platform Lucrado uses web trader and mobile APP as its trading platforms, and it does not support the commonly used MT4 or MT5. Trading PlatformSupported Available Devices Suitable for Web Trader✔Web, PC/ Mobile APP✔Mobile/ MT4❌/Beginners MT5❌/Experienced tradersDeposit and Withdrawal Lucrado accepts different types of payment options, such as VISA, MasterCard, Skrill, PayPal, Neteller, citibank, and so on. Accepted currencies are USD, EUR, GBP. However, other details such as the processing time and commission fees are not revealed.