Overview of Lux Trading Firm
Lux Trading Firm is a brokerage firm that offers a wide range of market instruments and multiple advanced trading platforms to traders. They provide flexible leverage options, an account evaluation program with a refund, and a significant profit share to traders. There are four options available: $25,000, $50,000, $100,000, and $200,000. The Lux Trader platform allows for a maximum leverage of 1:30 on Forex.The firm processes withdrawal requests in a timely manner and offers extensive customer support options, educational resources, and mentorship programs. However, it's important to note that Lux Trading Firm operates without a license, raising concerns about its legitimacy and the level of protection provided to traders. Traders should carefully consider the risks associated with an unregulated firm and conduct thorough research before making a decision.
Is Lux Trading Firm legit or a scam？
Lux Trading Firm is a brokerage firm that lacks a license, which raises concerns about its legitimacy. Regulation plays a crucial role in the financial industry by ensuring that brokers adhere to specific standards and guidelines, providing protection and security for traders. Regulated brokers are subject to oversight and must comply with strict rules regarding client funds, transparency, and fair trading practices.
Opting for a regulated broker offers numerous advantages for traders. It instills a higher level of confidence and trust as regulated brokers are held accountable for their actions and undergo regular audits. Moreover, regulated brokers often provide investor compensation schemes and dispute resolution mechanisms, offering additional protection in case of any issues or misconduct.
To safeguard your interests and funds, it is highly recommended to trade with regulated brokers that possess a valid license and a proven track record. Before selecting a broker, always verify their regulatory status, conduct thorough research, and seek feedback from reliable sources. By choosing a regulated broker, you can enjoy greater peace of mind and reduce the risks associated with trading.
Pros and ConsLux Trading Firm offers a wide range of market instruments, providing traders with diverse options for investment. They have multiple advanced trading platforms, allowing traders to choose a platform that suits their preferences and needs. The firm also offers a flexible leverage system, which can be advantageous for traders seeking higher potential returns. Additionally, Lux Trading Firm provides an account evaluation program with a refund option, giving traders the opportunity to recoup a portion of their initial investment. They also offer a significant profit share of 75% to the trader, enabling potential earnings.Lux Trading Firm also offers extensive customer support options, educational resources, and mentorship programs. Moreover, the availability of various deposit and withdrawal methods provides convenience and flexibility for traders.
One of the main concerns is that Lux Trading Firm lacks regulation,this lack of regulation can make traders more susceptible to potential risks and scams. Another drawback is that the account types offered may not be suitable for all traders, as each account requires specific investment amounts and has varying profit targets. Additionally, trading with leverage carries inherent risks, and traders need to be cautious as they may face potential losses. The firm imposes monthly withdrawal limitations, which may restrict traders' access to their funds. There is also an unclear background and track record of the company, making it difficult to assess their credibility and reputation. Verifying trading conditions can be challenging, as the information provided by the firm may not be transparent or easily accessible.
Market Instruments
Lux Trading Firm offers a wide range of market instruments for traders to trade on their platform. Traders can choose from various asset classes, including Forex, Indices, Commodities (such as Metals and Energies), Equity CFDs, and Cryptocurrencies. Each asset class comes with its own leverage and risk parameters.
Account Types
The account types offered in this scenario are part of an evaluation program with the goal of growing the initial investment to a substantial amount over several stages. There are four options available: $25,000, $50,000, $100,000, and $200,000. Each account size corresponds to a different number of stages required to reach the ultimate target of $10,000,000.
Upon starting the evaluation, traders make a one-time payment of varying amounts, ranging from £149 for the $25,000 account to £599 for the $200,000 account. After completing each stage, there is a 50% refund available, split into two payments after Stage 1 and Stage 2. This provides an opportunity for traders to recoup a portion of their initial investment early on in the evaluation process.
While the offer may sound enticing, it is important for individuals to carefully consider their risk tolerance, trading experience, and financial situation before deciding on an account size.
How to Open an Account？
To open an account with Lux Trading Firm, follow these 5 steps:
Visit the Lux Trading Firm website: Go to https://luxtradingfirm.com/ using a web browser.
2. Choose an account type: Select the account type that suits your needs and investment goals from the options provided on the website.
3. Complete the registration form: Fill out the required information accurately in the provided registration form. This typically includes personal details, contact information, and possibly some financial information.
4. Review and accept the terms and conditions: Carefully read through the terms and conditions, privacy policy, and any other legal agreements presented by Lux Trading Firm. Make sure you understand and agree to the terms before proceeding.
5. Submit your application: Once you have filled out the registration form and agreed to the terms and conditions, submit your account application through the website. You may receive a confirmation message or further instructions on the next steps to complete the account opening process.
Leverage
Lux Trading Firm offers different maximum leverage ratios depending on the account type and the trading platform used. For the Evaluation, Advanced, and Professional accounts (available on MT4 and MT5 platforms) with deposit sizes ranging from 25k to 200k, the maximum leverage is set at 1:10 for Forex trading and 1:5 for Indices and Commodities. However, for traders using Lux Trading Firm's proprietary platform, The Lux Trader, the maximum leverage is more flexible. The Lux Trader platform allows for a maximum leverage of 1:30 on Forex, providing traders with the opportunity to trade up to 30 times their account balance. For Indices, Energies, and Metals, the maximum leverage is 1:10, and for Equity CFDs and Cryptocurrencies, the maximum leverage is 1:5. It's important for traders to understand the potential risks associated with leverage and to use it responsibly according to their risk tolerance and trading strategies.
Spreads & Commissions
Lux Trading Firm operates with a profit target system for different stages of their accounts. The profit targets vary based on the account type and stage. In the Evaluation and Advanced stages, the profit targets are as follows:
$200,000 Account: Evaluation stage target is $12,000, and Advanced stage target is $8,000.
$100,000 Account: Evaluation stage target is $6,000, and Advanced stage target is $4,000.
$50,000 Account: Evaluation stage target is $3,000, and Advanced stage target is $2,000.
$25,000 Account: Evaluation stage target is $1,500, and Advanced stage target is $1,000.
$1MM Special Account: Evaluation stage target is $150,000.
Once a trader successfully completes the Evaluation stage, they will receive a refund of 50% of the paid fees, and another 50% will be refunded upon passing the Advanced stage. However, the 1-stage Evaluation accounts are excluded from this refund deal.
Once a trader reaches the Professional Account stage and beyond, the profit targets are set at 10% to advance to the next stage. There are no specific time limits imposed to reach these profit targets.
Regarding profit sharing, Lux Trading Firm splits the profits between the trader and the firm. The ratio is set at 75% for the trader and 25% for the firm.
In the Professional Account stage and above, traders can request a withdrawal once per month. The withdrawal transactions are typically processed within 3-5 business days.
Trading Platform
The trading platforms offered by Lux Trading Firm provide different features and functionalities to cater to the diverse needs of traders. Here is a description of each platform:
Global Prime (MT4): Global Prime is a widely used trading platform that has gained popularity among traders and brokers worldwide. It is known for its stability and functionality. By selecting Global Prime, traders can have peace of mind knowing they are using a platform that has stood the test of time.
OX Securities (MT5): OX Securities offers a powerful and versatile trading platform widely used in the financial industry. It provides advanced features such as advanced technical analysis tools and automated trading capabilities. With OX Securities, traders can experience a comprehensive and efficient trading environment.
cTrader: cTrader is a robust trading platform known for its advanced charting tools, fast order execution, and user-friendly interface. It offers innovative features and a customizable layout, enabling traders to have a seamless trading experience across various financial markets.
The Lux Trader: The Lux Trader is Lux Trading Firm's own platform, built around the premium TradingView charting and trading platform. With direct connectivity to liquidity providers, it provides traders with optimal trading conditions while incorporating premium TradingView functionality.
TradingView: TradingView is a popular platform among traders of all levels. It offers endless trading and charting opportunities with its intuitive interface, advanced charting capabilities, and real-time market data. TradingView is widely recognized as a leading platform in the charting realm.
Deposit & Withdrawal
Withdrawal methods provided by Lux Trading Firm offer flexibility and convenience for traders. Traders on the Professional 25k, 50k, 100k, or 200k Accounts, starting from Stage 3, are eligible to receive a 75% profit share as long as they have achieved a net profit in the current month relative to the High-Water Mark. The profits earned from these accounts are paid out during the week following the calculation of profits, which takes place during the first weekend after the end of the month.
Traders can choose to receive their funds via Direct Bank Transfer, which covers transfers to UK, EU, and international bank accounts. Additionally, traders have the option to receive payments through Wise-wallet, a digital wallet service known for its efficiency and convenience. For those interested in cryptocurrencies, Lux Trading Firm also supports withdrawals in cryptocurrencies.
Customer Support
Lux Trading Firm prioritizes effective and accessible customer support to meet the needs of traders. Traders can reach out to Lux Trading Firm through their physical address located at 128 City Road, London EC1V 2NX, United Kingdom, providing a option for in-person visits or traditional mail correspondence. Additionally, traders can contact their customer support team via phone at +44 20 7193 9534 for direct and immediate assistance with their inquiries or concerns. For written communication, Lux Trading Firm can be reached via email at info@luxtradingfirm.com.
In addition to these traditional communication methods, Lux Trading Firm embraces various social media platforms such as Facebook, Instagram, YouTube, WeChat, and Twitter, enabling traders to engage with them online. These platforms serve as avenues for traders to stay updated, access educational content, and connect with the Lux Trading Firm community. Furthermore, an online live chat feature is available on their website.
Educational Resources
The Elite Trader's Club offered by Lux Trading Firm provides a comprehensive package aimed at supporting traders in the trading industry. This package caters to individuals of all skill levels, including beginners, experienced professionals, students, and career changers. It offers a range of resources to enhance traders' knowledge and skills.
Traders enrolled in the Elite Package gain access to a daily live trading room where expert mentors provide market analysis and insights. Additionally, they receive one-on-one mentorship sessions to refine their trading strategies and understand the firm's trading rules. The package also includes an extensive library of on-demand educational videos covering various trading topics, allowing traders to learn at their own pace.
To assist traders in managing risk effectively, Lux Trading Firm provides a dedicated risk management desk that periodically reviews traders' trading styles and offers guidance on important risk management practices. Furthermore, exclusive workshops led by mentors are conducted twice a month, covering different subjects each time and providing traders with additional learning opportunities.
Conclusion
In conclusion, Lux Trading Firm offers a range of market instruments, advanced trading platforms, and flexible leverage options to traders. They provide an account evaluation program with a refund, as well as a significant profit share. The firm processes withdrawals efficiently and offers extensive customer support, educational resources, and mentorship programs.
However, it is important to note that Lux Trading Firm operates without a license, raising concerns about its legitimacy and the level of protection provided to traders. Traders should carefully consider the risks associated with an unregulated firm and conduct thorough research before engaging in any trading activities. It is recommended to choose regulated brokers with a proven track record to ensure the safety of funds and a transparent trading environment.
FAQs
1. Is Lux Trading Firm a regulated brokerage firm？
No, Lux Trading Firm operates without a license, and therefore, it is not regulated.
2. What account types are available at Lux Trading Firm？
Lux Trading Firm offers four account types: $25,000, $50,000, $100,000, and $200,000, each with different investment amounts and profit targets.
3. What is the profit share offered by Lux Trading Firm？
Lux Trading Firm offers a profit share of 75% to the trader and 25% to the firm.
4. How long does it take to process withdrawals at Lux Trading Firm？
Lux Trading Firm typically processes withdrawal requests within 3-5 business days.
5. Does Lux Trading Firm provide educational resources？
Yes, Lux Trading Firm offers educational resources, including a daily live trading room, on-demand educational videos, one-on-one mentorship sessions, and exclusive workshops.
2024-03-27 10:46
2023-03-10 15:10
