LuxisTrade Review Is Luxistrade.io Legit

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Contents

LuxisTrade Review: Is Luxistrade.io Legit?

LuxisTrade Review: Before you decide to signup with this brokerage, stop and think. How true is the information on their website? What if it is a scam? Read and find out the result of our investigation.

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What is LuxisTrade ?

According to the website, Luxistrade.io is the website of a leading Forex broker that claims to offer its users an effective online trading platform to invest, trade and make profits. We discovered that Luxistrade uses telephone marketing and social media advertising to reach out to clients in USA and Europe. This brokerage was created in December 2020 and registered in St. Vincent and the Grenadines.

What LuxisTrade Say They Offer

  • They claim to offer various assets like Forex Pairs, Commodities, Indices, Shares, and Crypto.
  • A leverage of 1:100
  • Provision of demo account
  • Security of users funds
  • EUR/USD spread of 3 pips
  • Provision of Forex experts and account managers
  • Language options between English and Russian

LuxisTrade Trading Software

LuxisTrade trading platform offers a Status Webtrader, fully equipped to the broker. The MetaTrader 4 is also available for either desktop download or web-browser access.

The desktop version of MT4 we discovered to be owned by a different company with the name of GelkoPartners. Surely, this is an indication of a scam. The MT4 web trader is not accessible and the Status Webtrader has everything a newbie trader basically and nothing else advanced. This is disappointing.

Luxistrade Withdrawal and Deposit Methods & Fees

Using this brokerage’s demo, we discovered that there is no minimum deposit. The only medium through which traders can deposit is via an assortment of cryptocurrencies. We tried deposit a very small amount $1 and it was successful.

Strangely, its withdrawal section could not detect our account. This makes us suspect that LuxisTrade does not have provision for withdrawal.

Furthermore, we discovered that inactive users are charged 10% as levy after a period of 3 months. Also, there is an unspecified 20% commission.

Is Luxistrade Licensed?

According to its website, Luxistrade is owned and operated by Mitz Holdings Ltd. company registration number: 25667 and registered address “Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines”.

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However, several investigations to discover if Luxistrade is licensed by any authorized body has proven futile. Its name does not appear in any regulator’s list. We believe that Luxistrade has no license(s) and therefore, illegal.

Luxistrade Support

Address: St. Vincent and the Grenadines

Phone: +442038074941, +441613941136

Conclusion

We are not convinced that Luxistrade is legit because they are unlicensed! Potential traders and all who have an interest in Forex trading should be wary of scammers like Luxistrade.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

LuxisTrade Review – is it scam or safe?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage
Newbie $250 1 :500 3 pips, fixed
Depositor $1 000 N/A N/A
Progressive $5 000 N/A N/A
Elite $250 000 N/A N/A
Advanced $500 000 N/A N/A

LuxisTrade is one of those brokers that does not reveal to much about its operation, which is the perfect ground for scammer opportunities. Yet, we will also try to come up with some possible benefits this broker might have, as we strive to be objective.

Here are our impressions of ground, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with them.

LuxisTrade Advantages

The MT4 supported

If we are to talk about possible advantages, with LuxisTrade, that could be the presence of the legendary MetaTrader4 platform (MT4). The access to the MT4 is always considered an advantage, as the platform provides 24 analytical objects, such as lines, channels, the Gann and Fibonacci tools, shapes and arrows, with which you can forecast the future price dynamics. The platform is also very popular for its automated trading bots, called Expert Advisors.

However, the following lines will reveal that LuxisTrade is not a broker you can trust, and besides, we found out that its MT4 is provided by an unreliable third party. So, you’d better check out our list of recommended MT4 brokers:

LuxisTrade Disadvantages

Unknown company, no legit license

Going through the LuxisTrade’s website, we found many disconcerting things. There is a serious lack of information on crucial aspects of a brokerage, as well a lack of clarity as to precisely which is the company operating the brand.

There is an address in Luxembourg, contact number with UK country code Bulgarian governing laws mentioned on the broker’s website. However, we couldn’t find any company name, nor a mention of regulation, so we can safely conclude that LuxisTrade is another anonymous brokerage operating without a legit license.

That being the case, we should mention that anonymity is probably the most serious red flag in forex trading. Many unregulated brokers are engaged in various types of investment scams, but the situation with anonymous ones is worse – there is virtually no way you can file a legal action against them, and no authority you can turn to.

Trading conditions not disclosed, no demo

Another worrisome sign regarding LuxisTrade is that the broker has not disclosed essential trading conditions, such as the spreads, leverage ratios on different accounts, transfer fees, etc. This is also very typical of scam brokers.

Furthermore, LuxisTrade obviously doesn’t offer free demo accounts, which means that potential clients (or victims) are completely unaware what their trading costs would be. This raises yet another serious red flag.

High spreads on web platform

Through a live trading account, we managed to log into LuxisTrade’s Status Trader web platform, and found the benchmark EUR/USD spread fixed at 3 pips.

This isn’t lucrative for traders, given that most fixed-spread brokers have a spread of 2 pips for this pair, and some go even lower.

MT4 provided by a notorious company

This is not a major flaw, yet we decided to mention it nonetheless. This broker’s MT4 is actually provided by Gelko Partners, an offshore company that operates EU Capital, which appears to be a total scam. You are more than welcome to read all the user complaints posted as comments to our review.

Conclusion

To conclude, LuxisTrade (operating via luxistrade.io and the login website is luxistrade.cc) is an anonymous unregulated forex broker that is most likely involved in fraudulent practices. As always, our best advice for investors is to go with brokers that are regulated by trustworthy organizations like the UK’s FCA or CySEC in Europe.

To sum up the Pros on Cons regarding LuxisTrade in a few words:

Pros Cons
Trading on the MT4 Unknown company, no legit license
Trading conditions not disclosed, no demo
High spreads on web platform
MT4 provided by a notorious company
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for LuxisTrade

Spread

Slippage

Requotes

Price feed

Platform

Deposit/Withdraw

Customer service

Summary

Luxistrade scam

I received a call from LuxisTrade today and they asked me if I made any reviews about them online. I confirmed that to be true. They accused me of not telling the whole truth and even said they can provide call recordings to confirm our conversations. I am still waiting for those call recordings. They also told me that they want the remainder of the 20% of their fees. I had already paid them 10% and told them I don’t have the rest. When I asked them to take that money from their fees, they said they cannot do that because it is not part of their company policy. The question is, if the money is already sitting in their account, why would it be difficult for them to withhold their portion. Secondly, if they can trust me to deposit their fees, why should I trust that they will pay me back. I suspect they are trying to threaten me into changing my reviews, however I cannot do that because I still do not have my money. I was told that my account would be deactivated and a few minutes later I received another call telling me that my account would be transferred to the account manager. I am still waiting for communication from the account manager. These people are trying to get more money from me with no guarantee that I will get my money back. I repeat. Do NOT give this broker your money.

Luxistrade is a complete scam

Luxistrade is a 100% scam. They never accept your request to withdraw and will even ask you to pay in their 20% fee before they pay you. Even after you pay them, they still don’t pay. Instead they become rude and ignore all your emails. Their emails [email protected] and [email protected] do not work. Their contact numbers do not work. These guys will never accept your withdrawal request. Do not invest even a single cent with them.

100% scam. Stay away!

100% scam . stay away from this brocker.

stay away from this brocker.. 100% scam. Donot give them single money. In most most of the Bitcoin % FOREX scams their name can see as agent.

Never they will accept your withdraw request.

LuxisTrade is a Scam broker

I opened an account with Calloway crypto almost 3 weeks ago and made a deposit of $300. My assigned broker is Luxistrade.cc.

Calloway crypto is not working as not a single trade is placed in the last 3 weeks by the autotrader but I don’t know the issue. 5 trades were placed automatically on my broker account, 1 per day (all winner and total $93 profit for all 5 combined), and broker called me and said it was placed by the broker itself through calloway crypto system as they have the access to the calloway crypto and only they can execute the trades themselves in my account. And of course, they asked me again and again to deposit more money which I declined every time. and they also asked me if I wish to use Calloway crypto myself, I have to buy the software from them for $5,000, which I also refused.

But then I decided to withdraw the money. I put a withdrawal request and its been a week that it is still pending. I sent an email to their ID ([email protected]) from the website but I get a response that email doesn’t exist, tried it 3-4 times. Also called the numbers on the website but they are incorrect numbers. So now, I am emailing their compliance department through which they asked for my documents at the start for verification. I sent them a number of emails but haven’t received a single reply.

Yesterday, broker called me again and asked me to give him the access to my computer through AnyDesk which I did, and asked me to open an account with safe currency and buy bitcoin there equals the same amount I have with the broker. He said this is some kind of reversal transaction and this is the only way I will be getting my money back. I contacted safe currency through the online chat box and that was their response”
Hello, we are only engaged in the exchange, nothing more. I would recommend you not to pay if you are not sure about your actions.”

I don’t know what to do now, my money is stuck. I even asked them just return my deposit money and don’t give me the profit which was generated by them using calloway in my account. Can you help me on this or give me any advice in this regard?

Thank you in advance and sorry for a lengthy email.

Send your message to our team! We will be glad to receive a feedback from you in order to improve the quality of services

This website is owned and operated by Mitz Holdings Ltd. company registration number: 25667 and registered address “Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines” and Mitz Partnership OÜ – (Company registry number 14850860 ) Operating Address : Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-701K, 10119, Estonia) – acts as a Payment Agent.

Risk Warning: Trading Forex is highly speculative and carries a high level of risk. Forex trading and CFD trading involves significant risk to your invested capital. Please read and ensure you fully understand our Terms & Conditions and Risk Disclaimer. It is possible to lose all your capital. These products may not be suitable for everyone so before deciding to trade Company’s Products you should carefully consider your financial condition and your level of experience. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.

Risk disclosure: Forex trading involves significant risk. We strongly advise that you read our Terms & Conditions. Although the risk when trading Forex is fixed for each individual trade, the trades are live and it is possible to lose your initial investment, particularly if a trader chooses to place his entire investment to a single live trade. It is highly recommended that traders choose a proper money management strategy which limits the total consecutive trades or total outstanding investment.

Disclaimer: LuxIsTrade is an online trading platform provider. We are an industry leading Forex brokers because we offer our investors the ability to trade underlying assets on an accurate and state of the art Forex option trading platform. LuxIsTrade advises its clients to read our terms and conditions carefully before opening positions on our platform. Digital option quotes displayed on the LuxIsTrade.io platform are rates that the company is prepared to offer options at, and as a result may not necessarily correspond to the exact live market quotations. Trading LuxIsTrade contains risks, which may result in partial or full loss of an investment. There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connection. The Company is not responsible for communication failures or delays when trading via the Internet. Any opinions, news, research, analyses, or other information contained on this website are provided as general market commentary and do not constitute investment advice. The Company is not liable for any loss or damage, including and without limitation to, any loss of profit which may arise directly or indirectly from use of or reliance on such information.

All comments, analytics, opinions, research any other information posted on this web-site is informative and it is not an advice to invest. There is a risk associated with the use of the online trading system, including, but not limited to, a failure of equipment, software and an Internet connection. The company is not responsible for communication failures or delays when trading over the Internet. The company is not responsible for any loss or damage, including and without limitation any loss of profit, which may arise directly or indirectly from the use of the trading platform or the information provided on the website

LuxIsTrade advises clients to examine in detail our conditions before opening positions on our platform. Our company provides the opportunity to trade on all major assets using a modern, convenient trading platform on Forex. The quotes on the website of the LuxIsTrade platform are tariffs offered to traders for buying and selling assets. Forex quotes are indicative that is why the quotes presented on the platform may be different from quotes on the live chart.

Luxistrade Reviews: Luxistrade.io is Legit or Scam site? What is Luxistrade.io?

This is a Review about Luxistrade.io. Your research has found its way and you have landed on the right place.

For a fresher, the reviews of the previous customers and their comments are of extreme help. Those comments may be either indicating a sign of “beware” or a feeling of joy. Being aware of the details about a scam sites can protect the country by being scammed and deterged. Therefore this is the sole responsibility of each and every customer to raise the red flags if any. This would help the potential customers to not repeat the same mistakes. Reviews of the user customers are really valuable and can save others from being trapped in the same web. Therefore we request our present and potential readers of this article to drop their comments in the below provided section.

It should be the responsibility of every person to inspect the site very carefully in order to avoid scam. However, here we have listed some detailed points so that you can note how to avoid scam:

Whether the offer is malicious :

There are many scam sites which provide claims which are too good to be true. Likely, they will provide you unexpected, unseasonal high discounts. Such situations are out of box and create curiosity in the minds of people.
For instance, if you wish to purchase a Smartphone from an online store which may cost you nearby $800 to $1200 but suddenly you cross an online website which boasts to sell the phone at just $200. Therefore it’s very obvious that the site is playing fraudulent. All they will do is invest your hard earned money somewhere.

Whether the site is secured :

Checking in an unknown site can be dangerous while providing your personal details. Therefore you must check whether address bar which is located on the upper left side corner of the site contains HTTP or HTTPS.

Fortunately if the site contains HTTPS it means that all your information like email address, password, card details are safe and protected from intervene and vindictive parties.

Though you must check whether company name is included in the URL or not. If yes then you will understand that the website is actually controlled and run by the company and not someone who wish to scam people.

Whether details are mentioned :

You must check whether the company has mentioned its details about address, contact, etc. Such details are provided in the Contact section of the webpage. After reaching with the details you can check whether they are legit details or not?

You can contact on the mentioned number for further queries and can Google the address.

Whether the site is reliable?

For you to use a site it should be reliable and unbogus. Therefore for you to inspect hackers behind the company you must review it before using. Before you buy anything or use the site in any way you must Google the feedback of the previous customers. Such comments and reviews will help you to understand the real motive of the company and the people behind it.

Whether the site is describable :

If you consider that the site looks ugly and is designed in abrupt manner then consider it as a scam site. Because you must know that such scam people do not have enough resources to develop a professional site. These sites will use irrupted English; contents will be positioned in improper manner, etc.

Remain skeptical about free trails :

There are some malicious companies who trap people by claiming to free trails. But it is observed that once you sign up for free trails the company will claim bill on you unnecessarily. Hence, we suggest that whenever you feel convinced by such things you should promptly research about the site.

Change you pass codes on weekly basis :

It is clearly advisable to revise you passwords. As there are time when we tend to click on some messages or pop up notifications which turn out to be scam. People behind such messages are dealing with fraud and hack our passwords. Hence, we advise all our readers to revise their patterns on time basis.

Don’t fall into any online Shopping Scam Trap, Always Shop from “This Website“, 100% Secure Payment Gateways, Great discount deals, Best Customer services and 100% worlds No. 1 Genuine Online Shopping Websites:

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How to identify a Scam Online Website:

William Shakespeare’s play has a famous line – ‘Everything that shines is not gold’, similarly not every breathtaking online shopping website is real. Before shopping from any unknown shopping website, it is necessary to search about it on Google. If no result is coming in the search or there are negative results, then never shop from such site. These sites display very good products at very low prices to entice customers. So that you get caught in their deception.
1. Type the name of the website in the search engine and observe the result carefully. If the website is coming up in the search engine and no one has made a wrong comment about it, then you can trust.
2. How secure is the connection of the website. See the security status of the website in the address bar of the browser. The https page is generally considered secure. The payment page should start from https.
3. How much the website gives the customer sport. Go to its about us section and see. Call customer care number
4. If the domain name has many dashes or symbols, the domain names are similar to other websites, the domain name has an extension .biz or .info, then do a deep investigation about them.
5. Observe the website design, language and grammar. Stay away from the site if you see a deficiency in it.
6. If the website has too many ads, then it should be doubted.
Cash on delivery option:
Many times we get caught in the cycle of cash on delivery option in the guise of fake looking website. For example, suppose a mobile phone of Rs 40000 is available for Rs 5000 and there is an option of cash on delivery. In such a situation, one can think that if you order, if it comes then it is okay, if it does not come then there is no loss. But maybe during ordering, your phone gets hacked or data is stolen. Therefore it is good to stay away from suspicious websites.
These sites can harm you in two ways. They may take online payment from you and the delivery of the product is never done. Secondly, they can steal your bank account details and other important data. Such fake websites usually reach you through Facebook and Google Ads.

In all the above bullet points we have showed you various back out options from scam.

In any case you are dealing with queries or confusion about the above content then please feel free to comment in the section below. Experience holders are most welcome to share and acknowledge their views and opinions.

Luxistrade Review: Is luxistrade.io a Reliable Trading Platform?

Luxistrade.io Review: Genuine or Fraudulent Trading Platform

Is luxistrade.io to be trusted? Or is luxistrade.io unreliable? Because we are concerned about the financial safety of our readers, we did an extensive research and made a review on Luxistrade. Please read our review before you decide if you should throw your time, expectation, and money into this trading platform.

What Is luxistrade.io?

Luxistrade is a trading platform which claims to be a brokerage company working for more than ten years in the financial market. They are owned and operated by Mitz Holdings Ltd. They offer different types of trading accounts tailored to the specific needs of traders and investors. Luxistrade trades on forex, stock, indices, and commodity using the MetaTrader 4 trading platform.

Luxistrade is located on www.luxistrade.io. They accept funding made through Bitcoin, Bank Wire Transfer, Skrill, Credit and Debit cards, etc. Their contact information, as written on their website, is:
Phone: +44-203-807-49-41 / +44-161-394-11-36
Email: [email protected] / [email protected]

How Does luxistrade.io Work?

Luxistrade claims to provide a platform that “dispels all myths about the complexity of the financial market and trading…” Their trading steps are quite simple: Open account, activate account, deposit fund into account, then relax and watch your money work for you. The supposed assurance and profitability of trading with luxistrade would be attractive to any trader. But is luxistrade.io to be trusted?

Luxistrade.io uses a very neat and well-designed website layout, with a good and believable user interface, giving it a convincing feel. Luxistrade has different trading account types for different income earners and even a demo account where eager users can experiment on.

What We Found about Luxistrade.io!

Luxistrade claims to be a legally regulated and registered company but there was no way to verify this information. We are aware that getting a verified company registration credential is not a guarantee of authenticity, because so many people easily can with as little as $50.

The other things we found out about Luxistrade which made us suspect Luxistrade.io should be an unreliable trading platform are:

  • Their certifications and testimonials are unverified and therefore could be false, a way to win the trust of unsuspecting traders.
  • We found no information on the company or the people behind luxistrade. This is a red flag, as there is no one to hold accountable should things go south.
  • Luxistrade promises to provide long term trading plans but we discovered that their domain is a short life expectancy domain and could go offline at any moment.

Verdict!

Luxistrade.io, despite seeming reliable, should as well be approached with caution. As there is always a risk factor in any trading, and also a possibility of loss. Never forget to trade with money you can afford to lose.

There are many untrustworthy trading websites on the internet promising get rich quick options. Most people attracted by these “too good to be true” ROIs from these sites have invested their money expecting profit but lost everything in the end. You do not have to become one of them to learn from their experience. It is unfair to fall victim to fraud and lose the money you earned from honest work. Fact checking should be a priority before you throw in money into any online trading scheme.

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