Luxtious Broker Analysis

Today, we are checking the Luxtious broker. Despite its attractive and unusual name, don’t rush to open an account here. We will conduct a thorough investigation of its offerings to determine whether it’s a scam or not. As always, you can find the results in our review.

Luxtious General Information

Registration and Client Portal Review

We have thoroughly explored the official website of Luxtious and found it visually appealing. It’s evident that the company has dedicated some time to its creation. Instead of typical stock images of happy traders, there is an attempt at original design, although at times it may seem a bit out of place. The astronaut riding a rocket is a notable example. However, Luxtious is not without its faults, metaphorically speaking. The homepage is, as usual, cluttered with advertisements instead of essential informativeness. Nevertheless, the company does provide some legal information, which can be found in the footer. One peculiar aspect is that Luxtious offers information only in English, and no other languages are available.

Luxtious requires filling out what seems to be a small registration form. Traditionally, you’ll need to enter various details, including your name, surname, contact information, residential address, and even your date of birth. However, we would not recommend proceeding with this. Why, you may ask? Because you won’t be able to complete the registration successfully. The broker will simply collect your data and inform you that the registration has failed. To address this issue, you will naturally need to contact support directly.

While we were unable to access the client portal, we will still attempt to shed light on the key details without direct entry.

Luxtious Trading Conditions

The broker claims to provide exceptional trading conditions. We will verify the extent to which this corresponds to reality and thoroughly analyze all its offerings.

Account Types Review

The broker’s strategy revolves around luring traders with a seemingly warm welcome, but beware — the more you invest, the deeper you descend into a perilous labyrinth of services.

• Starting with the Beginner account at a minimum deposit of $2,500, Luxtious pretends to break down financial barriers. However, this is just the beginning of a twisted progression through the tiers. The Standard account at $5,000 introduces special market coverage, a dubious feature that might lead you down the wrong financial path.
• As you venture into the Intermediate account with a $25,000 deposit, the illusion of sophistication continues with the promise of trading strategies allowed.
• Where’s the broker that completely bans trading strategies? Seriously? The Advanced and Integral accounts, demanding $50,000 and $100,000, respectively, unveil features like special event invitations and private instant support.
• At the peak, the VIP account demands a staggering $250,000, offering the illusion of a dedicated VIP personal manager. However, be wary of this personalized guide through the financial landscape, as the broker’s true intentions may remain shrouded in uncertainty.

The company also offers an Islamic account option. However, you might have noticed that the description revolves mostly around additional services. Not that it’s necessarily a bad thing, but more concrete information about spreads, commissions, and other aspects that traders care about would be appreciated. So far, it feels more like an attempt to sell a product without providing essential details.

Trading Platform

Luxtious asserts using an advanced trading platform, encompassing web, mobile, and tablet versions. However, critical details about the platform’s developers remain undisclosed, raising concerns about its legitimacy. Caution is advised regarding downloading potentially unlicensed software. Unfortunately, the absence of a demo account deprives users of the opportunity to explore the platform risk-free. The lack of transparency regarding the platform’s origins and the unavailability of a demo account pose uncertainties for traders.

Luxtious — Deposit and Withdrawal of Funds

Luxtious offers the option to fund your account using credit cards, bank transfers, or any other methods accepted by the company from time to time. However, the vagueness of “from time to time” raises concerns, as it lacks specificity regarding the available methods and when they might be applicable. The withdrawal section is equally perplexing, stating that Luxtious may reject withdrawal requests via one method and opt for another, with varying commissions starting from $10. Additionally, the processing time for withdrawal requests is not clearly defined. Such practices, including the lack of transparency and consistency in payment methods and processing, deviate from the standard practices observed in reputable brokers, contributing to an overall sense of uncertainty and raising questions about Luxtious’ credibility.

Verification

Despite the broker denying us access to the client portal, it insists on user verification. After completing the registration, users are required to submit supporting documents for verification. These documents often include a government-issued ID (such as a passport or driver’s license), proof of address (like a utility bill or bank statement), and any other documents the broker may deem necessary. Luxtious undertakes a review of the submitted documents to validate the accuracy and authenticity of the information provided by the user.

Following the review, the broker informs the user about the outcome of the verification process. If successful, users may gain access to their accounts and trading functionalities. On the other hand, unsuccessful verification results in denial of access to the platform.

Additional Options

The broker offers a plethora of additional services that raise numerous questions. For instance, the notion of prohibiting or permitting trading conditions seems absurd, as it introduces ambiguity into an area that should ideally be transparent. Luxtious boasts various analytical and educational services, but disappointingly, no concrete examples are available in the public domain.

This lack of transparency extends to the qualifications of individuals providing these services. There is no information on their educational background or expertise. It would be beneficial to assess a couple of forecasts to gauge their accuracy and reliability. The absence of such details leaves users in the dark about the qualifications and credibility of those behind these services.

Is Luxtious a Scam?

We have now reached the most crucial aspect — legitimacy. Rest assured, we will thoroughly investigate this matter.

Legal Information and License

Luxtious claims to be registered offshore, specifically in the Comoros, with INTERMARKETS Corp. Ltd. as its managing company. It’s intriguing, but what’s the connection between these names? Also, the registration of Luxtious in an offshore location like the Comoros might raise concerns due to several reasons. Offshore jurisdictions often have lax regulatory oversight compared to major financial centers.

Furthermore, the ease with which licenses can be obtained in some offshore jurisdictions, often for a few thousand dollars, raises concerns about the credibility of brokers registered there. Despite our thorough investigation, we couldn’t find any license for Luxtious. We went as far as checking the official registry. Indeed, a registration entry for Luxtious can be found in the MWALI registry, dating back to its establishment in 2023. The company has managed to acquire a license within this jurisdiction. However, it’s essential to shed light on the regulatory landscape of MWALI.

Luxtious.com Domain Info

Another compelling piece of evidence indicating that the company is rather dubious is its relatively short operational history. To determine this, we only needed to check the domain. The Whois service revealed that the site was created in late 2023, and this constitutes the actual duration of the broker’s existence.

The limited duration of the broker’s working period, evidenced by the fact that its website was created in late 2023, raises significant red flags. In the financial industry, trust and credibility are crucial. Traders are encouraged to be cautious when dealing with brokers that have a brief track record, as it may pose risks to their investments.

Contacts Review

The broker’s contact information seems adequate, providing an email, phone number, and even a live chat option. However, the authenticity of the provided office address raises concerns, as it could potentially be only nominal.

Pros and Cons

3.1 TOTAL SCORE

Luxtious Summary

While it is technically possible to engage with Luxtious, we strongly advise against it. The company exhibits significant red flags, lacking reliability and transparency. It is advisable to seek a more reputable and trustworthy broker to ensure the safety of your deposit.

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Website information content 4

Client Portal 2

Trading conditions 4

Trading platform 4

Deposit and withdrawal 3

Verification 4

Extra options 3

Licenses and guarantees 2

Work duration 1

Feedback 4

Frequently Asked Questions (FAQ)