Lugano Trade Forex Broker

Note: Lugano Trade's official website: https://www.luganotrade.com is currently inaccessible normally.Lugano TradeReview SummaryFounded2021Registered Country/RegionSwitzerlandRegulationUnregulatedMarket InstrumentsCryptos, forex, commoditiesDemo Account✅Leverage1:1000Spread/Trading PlatformMT4Min Deposit$2 500Customer SupportTel: +44 (0) 131 608-0839Email: Support@LuganoTrade.com Established in 2021 and registered in Switzerland, Lugano Trade is a forex broker, offering various market instruments on cryptos, forex, commodities on the MT4 platform. However, Lugano Trade operates without regulatory oversight from any reputable financial body.Pros and ConsProsConsDemo accountsUnregulated statusMultiple account typesInaccessible websiteMT4 suppportedLimited trading assetsPopular payment optionsExtremely high minimum depositNo deposit feesWithdrawal fee chargedInactivity fee chargedIs Lugano Trade Legit? No, Lugano Trade is not regulated currently. Please be aware of the risk!What Can I Trade on Lugano Trade?Tradable Instruments Supported Forex✔Commodities✔Cryptos✔Indices❌Stocks❌Bonds❌Options❌ETFs❌Account Type Lugano Trade offers 4 different account types – Silver, Gold, Platinum and Diamond. The minimum initial deposit for the Silver account is $ 2,500. This is outrageously high. The other accounts also have high initial deposits – $10,000, $50,000 and $100,000 respectively.Account TypeMin DepositSilver$ 2,500Gold$10,000Platinum$50,000Diamond$100,000 Moreover, Lugano Trade offers a demo account.Leverage Lugano Trade offers leverage of 1:1000 for traders. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.Trading Platform The trading software that Lugano Trade offers to its clients is the MetaTrader 4 platform.Trading PlatformSupported Available Devices Suitable for MT4✔/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal Clients of Lugano Tradex may deposit or withdraw via wire transfer, VISA, MasterCard, Skrill, Neteller, Fasapay and Load.Payment MethodMin DepositDeposit FeeWithdrawal FeeDeposit Processing TimeWire transfer250 EUR/USD❌0.5% except in cases where this percentage equals or is below $302-15 business daysVISA, MasterCard, Skrill, Neteller, Fasapay and Load50 EUR/USD❌Instant or up to 30 minutesFees If the trader‘s account stays inactive for 3 months (91 days), then an inactivity fee of 30 EUR/USD/GBPwill be applied or 1% of client’s total deposit amount whichever is greater.