Luxistrade Fraudulent Forex Broker Review: Scam Scheme and Customer Reviews

Attention! The company is suspected of fraud

Luxistrade is the honorary owner of an attractive website and favorable trading conditions. The Forex broker works according to the usual scheme, promising sky-high incomes and a whole range of bonus offers to its clients. Bright infographics, beautiful pictures and a lot of awards that the developers have placed in the most prominent place - this is exactly the bait that traders fall for. It would seem that the company has everything it needs to become a market leader, but the luxistrade.io project has chosen a different path. Before us are typical swindlers who create only the appearance of productive activity. In this review, we will take a closer look at the fraudulent pseudo-broker scheme, as well as monitor the reviews of deceived traders. 

Overview of the official website of the company luxistrade.io

The developers of the Luxistrade scam project deserve praise as they managed to create a really high-quality site. You won’t immediately understand that you have landed on the page of scammers, because the resource is thought out to the smallest detail. Rich text blocks, attractive graphics and an abundance of sections - not every fraudulent office can boast of such characteristics. 

The site of the forex broker luxistrade.io is colorful, so there is nothing surprising in the fact that users are led to a beautiful picture. Yes, the copywriters did not fully think through the legend of the emergence of the Luxistrade company, but all this is compensated by bright animation and infographics. In a word, an inexperienced client will be pleasantly surprised by both the content and the visual component. On the home page, you can also read the latest news and analytical reports. 

During the review, we found the main disadvantage of the resource - not all sections are translated into Russian. For example, account types are presented only in the English version, so you will have to use the services of a translator. 

Basic information about the forex broker Luxistrade 

In chapter "About Us" it is indicated that the forex broker Luxistrade has been on the market for more than 10 years. But the domain check showed a completely opposite result. The site luxistrade.io was registered only in December 2019, and this does not fit in the main version of the office. 

The most interesting thing is the license, or to be more precise, its absence. There is an item on the official resource "Normative base", but there you will not find any mention of certificates and regulators of the forex broker. The scammers decided to limit themselves to a complete list of existing financial structures, which is very strange.

Luxistrade's headquarters is allegedly located at: Suite 305, Griffith Corporate Centre, PO Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. Everything indicates that the location is fake, since several more companies are registered at this geolocation (PrivateFX, Riston Capital Ltd and Broker Regulator)

Overview of trading conditions of Luxistrade

The official website of the company says that they have 42,000 satisfied customers and 94% positive reviews on their account, which is very doubtful, since we found mostly angry comments on the Web. 

Luxistrade offers traders a huge range of instruments and tempting offers. But this is just a lure for you to keep investing money in a forex broker. In chapter “Accounts” contains account types, which are divided into two categories. 

Entry Level Accounts:

• "Newbie". The minimum deposit is $250, more than 25 instruments available and multilingual support;
• "Depositor". It is necessary to invest 1,000 dollars, then the following opportunities will open before you: 150 trading instruments, a personal manager;
• "Progressive". The initial deposit is $5,000. Service package: fixed/floating spreads, consultant, 40% account protection, 24/7 support. 

Professional Level Accounts:

• "Elite". The minimum deposit is $25,000. Account features: 250 tools, 20% to the bonus account, access to the training program;
• “Advanced”. $50,000 deposit. Features: 300 instruments, fixed/floating spreads, 60% account protection, personal analyst;
• "Professional". The initial investment is $100,000. More than 300 instruments in the public domain, 70% deposit protection, 60% to the bonus account from the total deposit amount.

An overview of the registration procedure on the website of the luxistrade.io scam project

The main feature of almost all scammers is that they do not like to strain, so they make the registration process as easy as possible. Luxistrade is no exception. In their reviews, users indicate that the process of creating an account took them less than 5 minutes, and this is already suspicious. No documents need to be provided, so the security of the account is out of the question. You deposit money, but no one vouches for their safety. Is this what honest brokers do? The answer is obvious. 

Scammers offer customers to fill out a simple form, indicating:

• name;
• surname;
• E-mail address;
• password;
• country of residence;
• phone number.

How does Luxistrade technical support work?

Get ready for the fact that immediately after registration you will be persistently called and offered to replenish your account, vying to praise the Forex broker Luxistrade. In chapter "Contacts" customers can find phone numbers, a contact form, and an email address, but this information is unlikely to help you in the fight to get your money back, because technical support operators are used to ignoring deceived users.

Based on customer feedback, the answer to the letter may not come at all. Support allegedly works around the clock, but this has nothing to do with reality. It's almost impossible to call yourself. The quality of technical support of Luxistrade pseudo-broker leaves much to be desired. 

Reviews of deceived traders about the project luxistrade.io

Of course, while collecting data for the review, we could not pass by the numerous reviews of former clients of the scam project, who vied with each other about their negative experience of cooperation. Traders claim they fell for this scam because of the attractive trading offers. The scam is really thought out to the smallest detail, so you won’t immediately say that you have ordinary scammers in front of you. 

User Vlada left a review in which she indicated that she could not withdraw money from the account: 

Client under the nickname "DemidrolChik” in his review, he noted that the Luxistrade pseudo-broker does not have any license, which already suggests certain thoughts: 

Investor account alexx86 simply blocked when he tried to withdraw money: 

A negative review was also left by an anonymous user:

Luxistrade: A Detailed Review of the Divorce Scheme

Fraudsters use the standard divorce scheme. As soon as you go through the registration procedure, your phone will immediately be occupied by call center employees who, by hook or by crook, will persuade you to invest as much money as possible in a forex broker. If the client does not have the required amount, the operators will carefully offer to take a loan, which will also ultimately turn out to be just a dummy.

Next on the horizon will be consultants. It is they who help users to drain the deposit, giving the wrong advice. You will invest more and more, following the instructions of scammers. Traders are promised an unprecedented profit, and all previous failures are justified by elementary bad luck. The review showed that all the charts and attractive statistics are a typical trick to blur the eyes, as the developers of the Luxistrade scam project use a fictitious trading platform.

As soon as you want to withdraw money, the final part of the scam will begin. A fraudulent forex broker will come up with fees, taxes and commissions that you need to pay in order to get your funds back. Even if you go along with the office and continue to replenish your account, this does not guarantee you compensation for losses. Unfortunately, withdrawing money is simply impossible.

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We draw conclusions about the activities of the fraudulent project Luxistrade

We analyzed user reviews and came to the conclusion that Luxistrade is a scam that does not deserve your attention. Unfortunately, a beautiful site is the only advantage of a pseudo-broker. The review showed that the company uses the most common scam scheme, so we do not recommend investing money in this company, as this venture will only bring losses.