Details
| Established: | Unknown |
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| Contact: | info@luxtradingfirm.com, +44 20 7193 9534 |
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1 REVIEWS
Recent User Reviews of LuxTradingFirm.com
I
icemanfx
Flavortown, USA,
Feb 27, 2022,
Registered user
Rules keep changing
Service use: Demo
Length of use: 0-3 Months
The biggest draw of this firm is that they have a letter from Global Prime stating that you are trading w/ real money. Most of these 'prop firms' are not offering live accounts, and if you take a few minutes to think about it - it becomes obvious.
However, even if they were offering live accounts, the company has recently started to change the rules of the game at will, signalling they may be in financial trouble. The biggest clue is that those who are trading at 500k or above are now being paid less, but the smaller accounts make more. This suggests that some traders that are actually 'funded' with higher amounts of capital are costing the company big payouts. They suggest that it is because they are having trouble attracting investors with the previous cut.
However, they are now restricting trading on Feb 27 'until further notice', for both live and evaluation accounts, due to the Ukrainian war. They 'feel it is in bad taste to profit from the invasion.' In other words, they are worried it will cost them if the markets gap massively. All trades will not be counted until the ban is lifted, which we don't know when.
The whole set up is inferior to many of the other arcades that seemingly pop up everyday. I gave them 2 stars because I like the amount of markets available, and the selection of platforms. However, there are better choices out there. I am also a funded trader at the5ers, and they don't seem to be worried about making money from my trading. Neither are any other firms in the world, except this one that suddenly starts moving things around.
I suspect they are in financial trouble or something. Just a warning. I would avoid at this point, there are so many others out there.
However, even if they were offering live accounts, the company has recently started to change the rules of the game at will, signalling they may be in financial trouble. The biggest clue is that those who are trading at 500k or above are now being paid less, but the smaller accounts make more. This suggests that some traders that are actually 'funded' with higher amounts of capital are costing the company big payouts. They suggest that it is because they are having trouble attracting investors with the previous cut.
However, they are now restricting trading on Feb 27 'until further notice', for both live and evaluation accounts, due to the Ukrainian war. They 'feel it is in bad taste to profit from the invasion.' In other words, they are worried it will cost them if the markets gap massively. All trades will not be counted until the ban is lifted, which we don't know when.
The whole set up is inferior to many of the other arcades that seemingly pop up everyday. I gave them 2 stars because I like the amount of markets available, and the selection of platforms. However, there are better choices out there. I am also a funded trader at the5ers, and they don't seem to be worried about making money from my trading. Neither are any other firms in the world, except this one that suddenly starts moving things around.
I suspect they are in financial trouble or something. Just a warning. I would avoid at this point, there are so many others out there.