Lux Trading Firm Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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Good experience. A couple of times I faced some problems and gave I call. I was answered by very polite and competent customer service who quickly helped to cope with all the difficulties. It's great when you can refer for help at any time of the day.
Summary: Lux Trading Firm has garnered a mixed reputation in the trading community. While it offers substantial funding opportunities and a flexible trading environment, some users have expressed concerns about its customer service and strict trading rules. Notably, the firm allows traders to access up to $10 million in capital, making it an attractive option for experienced traders.
Note: It is essential to consider the different entities operating under Lux Trading Firm across various regions, as this may impact the services and protections available to clients. This review aims to provide a fair and accurate assessment based on the gathered information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6.5 |
| Tools and Resources | 7.0 |
| Customer Service and Support | 5.5 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 7.5 |
| User Experience | 6.0 |
We evaluate brokers based on user satisfaction, service quality, and overall trading conditions.
Founded in 2020, Lux Trading Firm is a proprietary trading firm based in the UK, with additional offices in Dubai, Montenegro, and St. Lucia. The firm primarily operates as a prop trading company, providing traders with access to significant capital to trade in various financial markets. Lux Trading Firm offers trading on popular platforms such as MetaTrader 5 and TradingView, allowing traders to engage in forex, stocks, commodities, indices, and cryptocurrencies. However, it does not hold any regulatory licenses, which raises some concerns regarding the safety of client funds.
Regulated Areas/Regions:
Lux Trading Firm operates in multiple jurisdictions, including the UK, Montenegro, and Dubai. However, it is important to note that it does not hold a regulatory license, which means that clients may not have the same level of protection as they would with a regulated broker.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The firm accepts deposits in GBP and offers withdrawals through various methods, including bank transfers, Wise, and cryptocurrencies. However, there are no specific withdrawal limits mentioned, and clients can withdraw their profits once per month.
Minimum Deposit:
The minimum deposit required to open an account with Lux Trading Firm is £299. This fee is refundable upon successful completion of the evaluation process.
Bonuses/Promotions:
Lux Trading Firm occasionally offers promotional discounts and coupon codes for new clients. For example, there are reports of a 5% discount code available for first-time users.
Tradable Asset Classes:
Traders at Lux Trading Firm can access a wide range of assets, including forex pairs, commodities, indices, stocks, and cryptocurrencies. This diverse selection allows traders to explore various markets and implement different trading strategies.
Costs (Spreads, Fees, Commissions):
The costs associated with trading at Lux Trading Firm are competitive, with spreads starting from 0.0 pips. However, some users have reported inflated spreads during volatile market conditions, which could impact trading performance.
Leverage:
The maximum leverage offered by Lux Trading Firm is up to 1:30, depending on the asset class traded. This leverage is relatively conservative compared to other prop firms, which may offer higher leverage options.
Allowed Trading Platforms:
Traders can choose between several platforms, including MetaTrader 5, TradingView, and the proprietary Lux Trader platform. This flexibility allows traders to select the platform that best suits their trading style.
Restricted Regions:
While Lux Trading Firm is open to traders from various countries, it is essential for potential clients to check whether their specific region is supported, as certain restrictions may apply.
Available Customer Service Languages:
Customer support at Lux Trading Firm is primarily conducted in English. While they offer multiple communication channels, including email, live chat, and phone support, some users have reported delays in response times.
| Category | Rating (out of 10) | Comments |
|---|---|---|
| Account Conditions | 6.5 | Reasonable entry fees with potential for significant scaling. |
| Tools and Resources | 7.0 | Offers a variety of trading platforms and educational resources. |
| Customer Service and Support | 5.5 | Mixed reviews regarding responsiveness and effectiveness. |
| Trading Setup (Experience) | 6.0 | Generally favorable trading conditions but strict rules. |
| Trustworthiness | 7.5 | Positive reputation among some users but lacks regulation. |
| User Experience | 6.0 | Overall user satisfaction is average, with room for improvement. |
Account Conditions:
Lux Trading Firm offers various account types, including options for $50,000, $200,000, and $1,000,000 in trading capital. Each account type has different profit targets and drawdown limits. Users appreciate the potential for scaling their accounts significantly, with the maximum balance reaching up to $10 million.
Tools and Resources:
The firm provides access to advanced trading platforms and a proprietary dashboard for performance tracking. Educational resources, including mentorship and webinars, are available to help traders enhance their skills.
Customer Service and Support:
Customer support has received mixed reviews, with some users praising the responsiveness of the support team, while others have reported delays and inadequate assistance. This inconsistency may affect the overall trading experience.
Trading Setup (Experience):
The trading environment is generally favorable, with competitive spreads and a variety of asset classes. However, some users have expressed concerns about the strict trading rules and the limitations on using third-party expert advisors.
Trustworthiness:
While Lux Trading Firm operates without regulatory oversight, it has built a positive reputation among some traders. Nonetheless, potential clients should exercise caution and conduct thorough research before engaging with the firm.
User Experience:
Overall, user experiences vary, with many traders appreciating the funding opportunities and trading conditions, while others have raised concerns about customer support and the evaluation process.
In conclusion, Lux Trading Firm presents a compelling option for experienced traders seeking access to substantial capital and a flexible trading environment. However, potential users should carefully consider the pros and cons, particularly regarding customer service and regulatory status, before making a decision.
