Luxtious 2025 Review: Everything You Need to Know
Luxtious has emerged as a new player in the online trading landscape, offering a range of trading services primarily focused on CFDs and forex. However, the broker's reputation remains contentious, with mixed reviews from users and experts alike. Key features include a high minimum deposit requirement and a proprietary trading platform, but concerns about regulatory compliance and user experience persist.
Note: The broker operates under different entities across regions, which is a relevant factor for potential investors. It is crucial to approach this broker with caution, considering the mixed feedback and varying regulatory standards.
Rating Overview
We evaluate brokers based on user feedback, expert analysis, and factual data from various sources.
Broker Overview
Founded in 2023, Luxtious is an online brokerage operated by Intermarkets Corp. Ltd., based in the Comoros Union. The broker offers a proprietary trading platform, accessible via web and mobile, and facilitates trading across various asset classes, including forex, commodities, and cryptocurrencies. However, it lacks a demo account feature, which is often a red flag for new traders. The broker claims to be regulated by the MISA (Mwali International Services Authority), but the credibility of this regulation has been questioned due to its offshore status.
Detailed Breakdown
Regulated Geographic Regions: Luxtious is registered in the Comoros, but it does not cater to residents of the United States, Iraq, Iran, and the UAE. The regulatory framework is considered weak compared to more established jurisdictions like the FCA or ASIC.
Deposit/Withdrawal Currencies/Cryptocurrencies: The broker accepts deposits in USD and EUR, and allows withdrawals via bank transfers, credit/debit cards, and cryptocurrency.
Minimum Deposit: The minimum deposit to open an account is set at $2,500, which is significantly higher than many competitors, thereby limiting access for new traders.
Bonuses/Promotions: There is mention of bonuses in the user agreement, but specific details are scarce, raising questions about transparency.
Tradable Asset Classes: Luxtious offers access to over 500 tradable assets, including currency pairs, commodities, stocks, indices, and digital currencies.
Costs (Spreads, Fees, Commissions): The broker advertises low trading commissions, but does not specify the exact amounts for spreads and fees, which presents a significant concern for potential traders.
Leverage: Luxtious offers leverage of up to 1:200, a level that can increase risk significantly, especially for inexperienced traders.
Allowed Trading Platforms: The broker utilizes a proprietary web-based trading platform, but there are no indications of support for popular platforms like MT4 or MT5.
Restricted Areas: As mentioned, Luxtious does not serve clients from certain countries, notably the US and several Middle Eastern nations.
Available Customer Support Languages: Customer support is primarily available in English, with limited options for non-English speakers.
Rating Breakdown
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Account Conditions (4/10): The high minimum deposit of $2,500 is a barrier for many traders, and the absence of a demo account further complicates the onboarding process. According to FinanceBrokerage, the tiered account system offers various features, but the initial investment is steep.
Tools and Resources (5/10): While Luxtious claims to provide analytical materials and daily analysis, user feedback suggests that these resources may not be comprehensive or easily accessible. The lack of educational content is a significant drawback for novice traders.
Customer Service and Support (4/10): Users have reported slow response times and limited support options, as noted in various reviews. The absence of live chat support further complicates the user experience.
Trading Setup (5/10): The proprietary platform is user-friendly and accessible across devices, but the lack of industry-standard platforms like MT4 or MT5 may deter some traders.
Trustworthiness (3/10): Concerns about the broker's regulatory status and the high-risk nature of trading with an offshore broker contribute to a low trust rating. The lack of transparency regarding fees and conditions raises additional red flags.
User Experience (4/10): Overall user experiences are mixed, with some traders reporting satisfactory trading conditions while others express concerns about withdrawal issues and account management.
Conclusion
In summary, Luxtious presents itself as a new option in the online trading space, but significant concerns about its regulatory status, high minimum deposit requirements, and user experiences cannot be overlooked. The lack of transparency regarding fees and trading conditions further complicates its appeal. Potential traders should approach this broker with caution, conducting thorough research and considering more established alternatives before committing their funds.
