A Trusted Forex Broker
Many brokers promise the best trading conditions. Fxdailyinfo team decided to inspect Luxtious Forex Broker closely. We spent over two weeks to analyze their trading platform and security measures.
You might wonder if this broker deserves your time and investment. We tested their platform, got into their fee structure, and inspected their regulatory compliance to help you make a smart decision.
Fxdailyinfo complete forex broker review shares our direct experience with Luxtious and explains what you should know before opening an account.
Luxtious Platform Analysis
The Luxtious trading platform paints a complex picture that needs careful thought. Our analysis shows that the platform is fairly new, with domain registration going back to October 2023
Trading Interface Evaluation
A look at the trading interface shows a standard website layout that has sections for trading conditions, tools, and company information. Traders can use the platform on Windows, Mac, and Linux systems. The interface looks good at first glance, but it lacks transparency about the company's history and how it operates.
Platform Features and Tools
The platform comes with several standout features:
- Advanced technical indicators for market analysis
- Multiple trade execution options
- Customizable chart layouts
- Islamic account options
- Cross-platform functionality
The platform uses a dealing desk model and processes trades internally instead of routing them through an ECN network. This business model raises red flags because the broker's profits are directly linked to trader losses.
Trading Instruments Available
The platform gives traders access to more than 500 tradable assets. These assets include:
- More than 60 currency pairs with leverage up to 1:200
- Global stocks with competitive pricing
- Hard commodities including gold, silver, and palladium
- Major indices like S&P 500, FTSE 100, and Nikkei 225
- Digital currencies including Bitcoin, Ethereum, and Ripple
Platform Stability and Uptime
The platform's stability shows mixed results. Luxtious claims to provide a "robust and efficient foundation". Yet we faced several stability issues during our testing period. The platform's multiple major changes in 2023 disrupted trading continuity. Traders had to adapt to new trading conditions and unexpected changes in asset availability.
The system works well across Windows, Mac, and Linux operating systems. The frequent platform updates and broker changes have left many traders uncertain. The platform offers sophisticated analytical tools, but frequent changes to trading conditions might affect strategy execution and reliability.
The platform's handling of multiple trade executions stands out. The system supports different trading approaches, but traders should think carefully about position sizing and risk management. This becomes even more crucial given the platform's recent technical changes.
Customer Service Evaluation
Luxtious's customer service paints a mixed picture of support quality and response times. Traders need to think over these aspects before they open an account.
Support Response Times
Luxtious manages to keep a dedicated customer service team that provides specialized help. Our tests showed varying response times through different communication channels. The platform says it offers instant help through their support team 12, but our research revealed big gaps in actual response times.
Key support features include:
- 24/5 customer service availability
- Multiple communication channels
- Dedicated account managers for VIP clients
- Multilingual support staff
Issue Resolution Process
The platform takes 1 to 5 business days to process withdrawal requests. Our research uncovered mixed experiences with problem-solving. Some clients got their assets back quickly with minimal stress, but others struggled with withdrawal requests and got poor explanations for delays.
The issue resolution process works like this:
- Original ticket submission
- Acknowledgment of request
- Processing period (1-5 business days)
- Final resolution communication
Security and Regulation Assessment
Our deep dive into Luxtious's security framework reveals key points traders need to think over before investing their money.
Regulatory Status and Compliance
Luxtious operates under INTERMARKETS Corp. Ltd., with registration number HY00623404. The broker is authorized by the Agency for Regulation and Development of the Financial Market of Mwali, Comoros Union, under license No. T2023299. The company lacks regulation from major financial authorities like the FCA, CySEC, or ASIC.
Client Fund Protection Measures
Luxtious's security setup has these protective measures:
- Anti-Money Laundering (AML) protocols
- Data Privacy Policy that safeguards personal information
- SSL encryption for safe transactions
- Separate client fund accounts for better protection
It's worth mentioning that: These measures are laudable, but without top-tier regulation, traders miss out on the strict protections that major regulatory bodies typically provide
Risk Management Tools
Luxtious uses several risk management features to keep traders safe. Their platform runs advanced security protocols that protect sensitive data from unauthorized access. The system has:
- Two-step verification to secure accounts
- Advanced encryption to protect data
- Live monitoring systems
- Fraud detection algorithms
The platform has solid security measures, but traders need to stay extra careful with their password security and follow safety best practices 8. Users must create complex passwords that mix uppercase and lowercase letters, numbers, and special symbols. These passwords must meet minimum length requirements.
Traders should weigh both the regulatory environment and security measures to see if Luxtious matches their risk comfort level and trading goals.
Trading Experience Analysis
Our team has completed a full testing phase of the Luxtious trading environment. Here are our findings about the real-life trading experience this broker provides.
Order Execution Speed
Luxtious markets "ultra-fast execution" as one of their main features. But our tests showed some worrying inconsistencies in execution speeds. The platform went through several broker changes throughout the year. These changes affected how consistently orders were executed. A major platform update came in December 2023 when they linked their online platform to MT5.
Educational Resources
Luxtious offers simple FAQs and support documentation. Their educational resources fall short compared to leading forex brokers. The platform provides guidance through their FAQ section, but lacks complete trading education materials.
Important Consideration: Some traders praised the support team's professionalism and efficiency. Others reported serious concerns about response quality and resolution times. These contrasting experiences point to uneven service quality for different users.
Warning: You should document all support communications and keep detailed records of your transactions. Response times and resolution quality can change a lot.
Traders who kept clear communication and followed up on their issues reported better results. The lack of standard response times and changing quality of issue resolution creates a risk that traders need to think about carefully.
Conclusion
Our latest review of Luxtious Forex Broker shows some major issues that traders should know about. The platform looks good on paper with its range of trading instruments and security features. But the red flags are hard to ignore. This 2-month old broker (launched in October 2023) has already changed its platform multiple times. The lack of proper oversight makes its stability questionable.
We can't recommend this broker to serious traders because it lacks major regulatory licenses and its customer service is hit-or-miss. The trading interface looks modern and works well. However, the absence of a demo account is a big problem for a platform that claims to serve both new and experienced traders.
The broker's dealing desk model and inconsistent execution speeds can affect your trading results, especially when markets get volatile. Their security measures don't match up to what top regulated brokers offer as standard practice.
Our full picture of Luxtious raises too many concerns. You might want to look at well-established brokers instead. These brokers have proven track records and follow strict regulatory guidelines. The offshore regulation and recent market entry of Luxtious are simply too risky.
