LuxisTrade
1/5
LuxisTrade Details
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Here we are with another addition to a particular type of suspicious broker that relies on useless information that comes in huge bulks only to fill in the spaces and cover its tracks more efficiently. LuxisTrade is up next.
First and foremost, it does not say anywhere on the website that the broker is regulated by an actual license issuer. In the Funds Security document it is said that the company is “regulated by law” 
which “law” exactly, it is not made clear. Next, in the Environment page section it mentions 6 regulated companies, of which some are mistaken (LuxisTrade trades the FCA name with the FSA in the UK, which is not the official forex regulator), and others are contradictory to each other, like the NFA in the US and the FSC BVI (Financial Services Commission of British Virgin Islands).
There is nothing on the website that proves the broker's legitimacy, making LuxisTrade UNLICENSED, and most definitely a scam out to steal your money!
If users have the trader’s itch, they are more than welcome to trade with any FCA regulated broker. The FCA enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.
The leverage we were given was 1:100, and the EUR/USD spread was 3 pips, a typical fraudulent broker cost of trade. The assets for trading offered are Forex Pairs, Commodities, Indices, Shares, and Crypto.
The website comes in Russian and English.
LUXISTRADE LOGIN
The situation with the trading platforms is odd. There is the Status Webtrader, fully equipped to the broker. Then there is the MT4 which is available for either desktop download or web-browser access. The desktop version we downloaded was owned by a totally different company by the name of GelkoPartners, undoubtedly another scam, while the MT4 web trader was accessible only up to its log in screen- we weren't given sign in details for it.
And so we are left with the Status Webtrader.
STATUS WEBTRADER
This web-trader has all the basic things that a trader needs, but doesn’t really go any further to impress. There are options for customization, pending orders, multiple chart indicators, time frames, and a decent amount of trading information. Yet it cannot live up to the expectation of more advanced traders.
LUXISTRADE MINIMUM DEPOSIT
There is no minimum deposit. We tried to continue the payment process with just $1 and were successful. As per the client dashboard, the only way to deposit is via an assortment of cryptocurrencies, the preferred payment methods for scammer brokers.
Due to the broker’s lack of any regulation, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
For safekeeping your money NEVER share your credit card number and CVV code with a salesperson. All online payments require this 3 digit number in order to complete purchases or transactions, and by giving yours away to some offshore broker may lead only to the complete drainage of funds from your credit card.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
This broker has sneaked in the AnyDesk software as means for traders to receive help; it’s located on the bottom right of the screen on the website. Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, often times for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
LUXISTRADE WITHDRAWAL TIME AND FEES
Interestingly, even after opening a trading account, and after being able to deposit, the withdrawal section did not detect our trading account. There are two possible explanations for this. Either the broker wants a deposit before allowing to reveal further details, or it does not at all allow for withdrawals because it is absolutely a scheme. Either way, do not deposit!
ADDITIONAL FEES AND TAXES
There is a 20% commission on something left unspecified, and dormant users will start being charged a 10% levy after 3 months of inactivity
Brokers that have no regulation are known to launch incoming fees without notice. For this reason they try to postpone any withdrawal request. Either the broker will find a loophole in the terms and conditions that is completely made up, will firmly advise you against withdrawing, or they will ask more deposits needed if one wished to withdrawal. Scammers come up with additional fees and taxes for the sole purpose of keeping you on stand-by, and to deplete as much money from you as is possible.
ACCOUNT VERIFICATION
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
BOTTOM LINE
This broker is a complete scam, and that's is the just of it. Do not deposit here. You owe them nothing!
LuxisTrade compared to other brands
Brand
Rating
Bonus
Min Deposit
Company
Country
LuxisTrade
1/5
-
$1
N/A
ForexTime
4/5
Copy trading
$10
United Kingdom, Cyprus, South Africa, Mauritius
OctaFX
4/5
50% Bonus
$50
Cyprus, Saint Vincent and the Grenadines
Ahsan
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. 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 but I refused. 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?
kiran
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.
Simon Brant
Luxistrade took me for $500 as I was naive and new to trading..numerous”managers called me to try to get me to increase investment,with promises to make me money,then when tried to withdraw cash told me had to have 50 posotive trades first..bulshite followed by more bullshit. NEVER DEPOSIT money with luxistrade unless you wish to say goodbye…I don’t get why they are allowed to get away with it!! I know if I tried it police would be knocking on the door!!
André Luiz Carneiro Anders
For the month of July this year, I talked to an acquaintance, who very well told me about the broker Francisco Belmondo, claiming that he was making high profits. This for me, served as a good reference, a few days later, this Francisco came in contact, very polite, for clarification. Well, after a few days, I deposited $ 249.73, which I found out is called Luxis Trade, plus 3 days I made another deposit in the total amount of 903.16. Good from July until now, the values have been increasing, always being made, modest investments, of relatively low risk, when on September 3rd, AMAZONAS shares were purchased, which I do not know or have never consulted about them . Fact is, they bought the shares and they plummeted, when I was worried, in conversation with Francisco (broker), who told me to deposit more, so as not to lose everything. I was terrified, because there was already $ 3807.00 there, I managed to borrow an amount of $ 1278.00, transferred directly from the Bitcoím Market, to the digital wallet that the broker gave me on 09/09. The fact is, this money did not enter my balance of operations, allowing me to lose my investments, since it counted at -515.00.
My contact with Francisco Delmondo was via Whatsapp, which has been blocked by him ever since. I wonder how I could solve this.
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Pelo mês de julho deste ano, conversei com um conhecido, que muito bem me falou do corretor Francisco Belmondo, alegando que estava tendo altos lucros. Isso pra mim, serviu como uma boa referência, alguns dias adiante, o tal Francisco entrou em contato, muito educado, para esclarecimentos. Pois bem, depois de alguns dias, depositei $249,73, a qual fiquei sabendo que chama se Luxis Trade, mais uns 3 dias realizei outro deposito no valor total de 903,16. Bom de julho para cá, os valores foram aumentando, sempre sendo realizado, investimentos modestos, de relativo baixo risco, foi qdo no dia 03 de setembro, foi realizada compra de ações da AMAZONAS, as quais não conheço nem nunca me foi consultado sobre elas. Fato é, compraram as ações e as mesmas despencaram, qdo me mostrei preocupado, em conversa com Francisco(corretor), o qual me disse deposite mais, para não perder tudo. Fiquei apavorado, pois lá já somava $3807,00, consegui emprestado um valor $ 1278,00, transferido diretamente do Mercado Bitcoím, para a carteira digital que o corretor me passou no dia 09/09. O fato é, que esse dinheiro não entrou no meu saldo de operações, deixando perder meus investimentos, pois o mesmo contava na -515,00.
Meus contato com Francisco Delmondo, era via Whatsapp, o qual está bloqueado por ele, desde então. Gostaria de saber como poderia resolver isso.
Jeandre Stein Goes
Luxistrade is an imposter. Stole my money
They embarrass themselves in the face and return my money. Scammers. LUXISTRADE
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A Luxistrade é uma empresa impostora . Roubou meu dinheiro
Tomam vergonha na cara e devolva meu dinheiro. Golpistas. LUXISTRADE