Lugano Trade

Note: Lugano Trade's official website: https://www.luganotrade.com is currently inaccessible normally.

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 Cons

Is Lugano Trade Legit?

No, Lugano Trade is not regulated currently. Please be aware of the risk!

What Can I Trade on Lugano Trade?

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.

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.

Deposit and Withdrawal

Clients of Lugano Tradex may deposit or withdraw via wire transfer, VISA, MasterCard, Skrill, Neteller, Fasapay and Load.

Fees

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.