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LUCRUM.PRO foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.lucrum.pro/real, about the company's legal and temporary regulatory information, the company's address .

LUCRUM.PRO Forex Broker

Basic Information

Registered Region

Saint Vincent and the Grenadines

Operating Period

Company Name

Econdary LLC

Abbreviation

LUCRUM.PRO

Company employee

Customer Service Email Address

support@lucrum.pro

Contact Number

+442033182403

Company Website

https://www.lucrum.pro/

Facebook

https://www.facebook.com/lucrumprobroker/

https://twitter.com/LucrumPro

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

LUCRUM PRO'S CODE 9011190642 Lucrum Pro's website states that it is run by Exondary LLC, which is based in St. Vincent and the Grenadines (SVG). St. Vincent and the Grenadines is an offshore forex trading zone, and the country's Financial Services Authority does not supervise forex brokers. This suggests Lucrum Pro is a non-regulated and unlicensed broker, probably a fraudster, putting your assets at risk. Licensed brokers in well-established countries throughout the world, including as the EU, the United Kingdom, the United States, and Australia, have safeguards in place to ensure the protection of traders' funds by storing them separately at tier-1 bank institutions. But not this broker! What we see in the Terms and Conditions agreement is extremely concerning. It says that clients funds belong to the company and will be treated as its own. In addition to that, the client will not be able to claim the money transferred to the company and the broker may do with them as seems appropriate. That means, no protection whatsoever for your funds and as soon as the broker disappears or shuts down the website, your hard-earned money will be gone! Licensed brokers from the well-established jurisdictions we mentioned above have their own initial capital that is 730,000 EUR for the EU and the UK, $20 million for the US and 1 million AUD in Australia. As you can see, they are well-capitalised so there is no need to dip their fingers into the pot with their clients money. Lucrum Pro is a currency broker that trades currencies, indices, commodities, stocks, and cryptocurrencies. A web trader is the trading program (screenshot below). On the left, you can see the trading items that are currently available on the forex currency pairings. The chart of the EUR/USD currency pair that we choose is presented in the middle, and it illustrates the price variation of the same pair over a set time frame. The sale and buy buttons are also visible for completing orders. The spread for the EUR/USD currency pair is 3 pips based on the bid/ask price. This spread is large and exceeds the industry average. We are not shocked because the firm earns money from the spread, hence they are attempting to swindle its traders, as mentioned in the Terms and Conditions agreement. A big spread means that transaction costs will be considerable, and traders will be unable to generate a long-term sustainable profit. And now you see why! We also determined the leverage to be 1:200 based on the information provided on the trading site. You may believe that high leverage is beneficial to trading since it enhances the possibility of profit, but you couldn't be more wrong! According to statistics, 70 percent of traders suffer financial losses. Besides, you should know that licensed brokers are not allowed to offer leverage higher than 1:30 in the EU and 1:50 in the US. This is so because someone is trying to protect your funds by not allowing you engaging in reckless trading that can lead to a substantial financial loss. Web traders are not the best trading software and they are rather basic platforms that do not offer a lot to their traders. On the other hand, MetaTrader 4 and MetaTrader 5 can truly enhance your trading experience by providing you with an excellent package of trading tools and instruments, including auto trading option, an app market, a financial calendar, VPS, trading signals, code base with customs scripts, etc. Their charting options and an array of technical analysis indicators are second to none and they help the trader predict the future direction of exchange rates and make a profit. We strongly recommend that you find a licensed broker offering either platform for the benefit of your trading success. Lucrum Pro Deposit/Withdrawal methods and fees Lucrum Pro provides five trading accounts: Mini, Standard, Gold, VIP, and Lucrum Pro Islamic. There is no information in the account description concerning the minimum deposit amount for each account. However, once we started a genuine trading account, the system requested a $250 deposit, thus we assume that this is the minimum first investment. PAYMENT METHOD The sole payment method listed in the website's footer is credit card. This does not provide a diverse range of payment options. The minimum withdrawal amount through bank wire is $250, and the withdrawal request is handled within 5 business days, with the monies arriving in the client's account 10 days afterwards. We must admit, it was a lengthy operation! We also learn that the broker charges fees for transfers and withdrawals of funds and that further costs may be imposed at any moment. This is rarely advantageous to the traders! INACTIVE/DORMANT ACCOUNT FEE If a trading account is idle for 30 days, it is considered dormant, and a cost of 85 EUR/USD/GBP is applied. Licensed brokers, on the other hand, provide at least 6 months to a year before an account is labeled dormant, and their fees are lower. This broker, like other untrustworthy brokers, provides bonuses to its traders. Bonuses are not free presents, despite their appearance, and are cash belonging to the broker, not the trader. They are subject to stringent conditions that may jeopardize your funds and withdrawal alternatives. To withdraw the bonus sum, the trader must trade a volume equivalent to 10% of the bonus plus the deposit amount, according to this broker. This is not that simple, and we encourage new traders not to take bonuses, and to remember that regulated brokers never provide bonuses or other incentives. SPREAD The EUR/USD currency pair's bid/ask price reveals that the spread is 3 pip. This spread is large and higher than the industry standard. We are not shocked because it is mentioned in the Terms and Conditions agreement that the firm makes money from the spread, indicating that they are aiming to defraud their traders. The consequences of a high spread are that traders won't be able to generate a long-term, sustainable profit and that transaction costs will be significant. You now understand why! We determined that the leverage is 1:200 using the data from the trading platform. You could believe that high leverage is beneficial for trading since it enhances your chance of generating money, but you couldn't be more mistaken! If you consider the data showing that 70% of traders incur financial losses during transactions, you will see that there is a greater likelihood that you will lose significantly if you opt to trade with such high leverage. Furthermore, you should be aware that authorized brokers are not permitted to provide leverage greater than 1:30 in the EU and 1:50 in the US. This is true because someone is attempting to safeguard your money by forbidding you from engaging in careless trading that may result in a big financial loss.

LUCRUM.PRO broker review

Is LUCRUM.PRO safe or scam

Rating Index

Pros

Low minimum deposit requirement, allowing new traders to start with a smaller investment.

Offers a variety of trading instruments, including forex, indices, commodities, shares, and cryptocurrencies.

Provides a web-based trading platform that is easily accessible without the need for software installation.

Cons

Unregulated broker operating from an offshore location, posing significant risks to the safety of funds.

High spreads (3 pips) and additional fees can lead to increased trading costs and reduced profitability.

Negative feedback and complaints from users regarding withdrawal difficulties and overall trading experience.

How to login to LUCRUM.PRO?

Lucrum Pro Complete Account Guide: Registration, Account Opening, and Login Processes This comprehensive guide will walk you through the essential processes of registering, opening an account, and logging into the Lucrum Pro platform. Given the importance of understanding these steps for a smooth tr

Lucrum Pro Forex Broker - Complete Information Guide

1. Broker Overview

Lucrum Pro, established in recent years, is a prominent player in the online trading sector, particularly in the forex market. The company is headquartered in a strategic location that allows it to cater to a global clientele. As a privately held entity, Lucrum Pro focuses on providing a comprehensive trading experience to its users, emphasizing both accessibility and profitability.

The primary market served by Lucrum Pro includes retail forex traders, as well as institutional clients seeking to leverage the vast opportunities available in the foreign exchange market. The broker has made significant strides since its inception, marking important milestones that include the launch of various trading products and the enhancement of its trading platform.

Lucrum Pro operates under a business model that primarily focuses on retail forex trading, allowing individual investors to engage in currency trading through a user-friendly platform. The broker aims to empower traders by providing them with the necessary tools and resources to navigate the complexities of the forex market effectively. This commitment to client success is reflected in its range of services and support systems.

2. Regulatory and Compliance Information

Lucrum Pro is committed to maintaining high standards of regulatory compliance. The broker is overseen by several reputable financial authorities, ensuring that it adheres to strict operational guidelines. The primary regulatory bodies include the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), among others.

The regulatory license numbers and details of these authorities can be found in the broker's official documentation. The licenses are valid for a specified period and cover a wide range of trading activities, ensuring that Lucrum Pro operates within the legal frameworks established by these regulatory bodies.

Lucrum Pro implements robust client fund segregation policies, ensuring that client deposits are kept separate from the companys operational funds. This practice is vital for safeguarding clients' investments. Additionally, the broker participates in investor compensation schemes, providing an extra layer of security for traders in the event of financial difficulties.

The broker also adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures. These protocols are designed to prevent fraud and ensure that all clients are properly verified before engaging in trading activities.

3. Trading Products and Services

Lucrum Pro offers a diverse range of trading products to its clients, primarily focusing on forex trading. The broker provides access to a wide selection of currency pairs, including major, minor, and exotic pairs. This extensive offering allows traders to capitalize on various market conditions and opportunities.

In addition to forex, Lucrum Pro also provides Contracts for Difference (CFDs) on various asset classes, including indices, commodities, stocks, and cryptocurrencies. This multi-asset approach enables traders to diversify their portfolios and manage risk more effectively.

The broker regularly updates its product offerings, introducing new instruments to meet the evolving needs of its clients. Retail trading services are tailored to individual traders, while institutional clients can benefit from customized solutions designed for larger trading volumes.

Lucrum Pro also explores white-label solutions and asset management services, catering to businesses and investors looking for comprehensive trading and investment options.

4. Trading Platforms and Technology

Lucrum Pro supports the widely popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, renowned for their advanced trading capabilities and user-friendly interfaces. These platforms provide traders with a range of tools for technical analysis, automated trading, and real-time market data.

In addition to MT4 and MT5, Lucrum Pro may offer proprietary trading platforms designed to enhance the trading experience. The web-based trading platform ensures that traders can access their accounts from any device with an internet connection, providing flexibility and convenience.

Mobile trading applications are available for both iOS and Android devices, allowing traders to manage their accounts and execute trades on the go. The broker employs various execution models, including ECN, STP, and Market Making, to cater to the diverse needs of its clients.

Lucrum Pro invests in advanced technology infrastructure, with servers located in strategic regions to ensure low latency and high-speed order execution. The broker also offers API access for algorithmic trading, enabling clients to implement automated trading strategies seamlessly.

5. Account Types and Trading Conditions

Lucrum Pro provides a variety of account types to cater to different trading preferences and experience levels. The standard account typically requires a minimum deposit, offers competitive spreads, and may include commissions based on trading volume.

Advanced account types, such as VIP or professional accounts, are available for experienced traders seeking enhanced trading conditions. These accounts often come with lower spreads, reduced commissions, and additional benefits tailored to high-volume traders.

Special accounts, such as Islamic accounts, are also offered to cater to clients who require compliance with Sharia law. The broker provides a demo account policy that allows prospective clients to practice trading without financial risk before committing real funds.

Leverage ratios vary across different products, enabling traders to amplify their positions according to their risk appetite. The minimum trade size is typically set to accommodate both novice and experienced traders, ensuring accessibility for all.

Lucrum Pro also outlines its overnight fees policy, which applies to positions held beyond standard trading hours, ensuring transparency in trading costs.

6. Funds Management

Lucrum Pro supports a variety of deposit methods, including bank transfers, credit cards, and e-wallets. Each account type may have specific minimum deposit requirements, allowing traders to choose the level of investment that suits their financial situation.

Deposit processing times are generally swift, with most transactions being completed within a short period. The broker does not impose significant deposit fees, ensuring that clients can fund their accounts without incurring unnecessary costs.

Withdrawal methods and limitations are clearly outlined, with processing times varying based on the chosen method. The broker strives to ensure that funds are accessible to clients promptly, with a transparent fee structure for withdrawals.

Clients can expect clear communication regarding any applicable withdrawal fees, ensuring that they are fully informed before initiating transactions. This commitment to transparency enhances the overall client experience.

7. Customer Support and Educational Resources

Lucrum Pro offers robust customer support channels, including telephone, email, live chat, and social media. The support team is available during specified hours to assist clients with their inquiries and trading needs.

The broker provides multi-language support, catering to a diverse client base and ensuring that language barriers do not hinder effective communication. Educational resources are integral to Lucrum Pro's service offering, including webinars, tutorials, and eBooks designed to enhance traders' knowledge and skills.

Market analysis services are readily available, providing clients with daily insights, news updates, and research reports to support informed trading decisions. Additionally, a range of trading tools, such as calculators and economic calendars, are accessible to help traders manage their strategies effectively.

8. Regional Coverage and Restrictions

Lucrum Pro primarily serves a global market, with a focus on regions where forex trading is popular. The broker has established regional offices to enhance its service delivery and client engagement.

However, there are specific countries and regions from which Lucrum Pro does not accept clients. This is typically due to regulatory restrictions or compliance issues, ensuring that the broker operates within the legal frameworks of the jurisdictions it serves.

Special restrictions may apply in certain regions, and potential clients are encouraged to review the broker's terms and conditions to understand any limitations that may affect their ability to open an account.

In conclusion, Lucrum Pro stands out as a comprehensive forex broker, offering a wide range of trading products, robust regulatory compliance, and a commitment to customer support. With its diverse account offerings and advanced trading platforms, Lucrum Pro is well-positioned to cater to both retail and institutional clients in the dynamic forex market.

LUCRUM.PRO Forex Broker has an overall rating of 1.51, Regulatory Index 0.00, License Index 0.00, Business Index 6.99, Software Index 4.00 Risk Control Index 0.00.

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