Lucrum Review – A New Broker In The Mix
in our Lucrum review we will look a bit deeper into this new brokaerage , not a whole lot of information is as yet available besides what they told us and what we could read on their website and when we opened an account. we encourage you to do your own research and try for yourself ( we also would love to hear about your experiences)
Lucrum is a Forex broker that offers numerous financial products under a single roof, which is a convenient way of attracting a huge chunk of the retail traders from the global pool of investors across the various financial markets.
Lucrum review started its brokerage service in 2020 and had ever since been on an upward trajectory by incorporating new products and improving their overall service offerings to meet their customers’ demands. Lucrum is NOT a market maker broker and offers a standard FX brokerage service that has a whole range of features that one can expect from a regular STP broker.
In this Lucrum review, our primary aim is to offer you the best information regarding the performance of the broker, and whether your funds are secured and safeguarded against the most known broker issues.
Is Lucrum Regulated Through Proper Channels?
Lucrum does seem to be a genuine and reliable broker, but there is a lot of confusion on the regulatory aspect. Lucrum is located in st Vincent and Grenadines.
After an in-depth investigation, it became apparent that Lucrum is corporated under company number: REG 154 LLC 2019. Its address of registration is address: the financial service center, Stoney ground, Kingstown. ST. Vincent and the Grenadines. The processing and clearing company’’ ITM SOLUTIONS LLC, Incorporation” under company Number REG 154 LLC 2019, having it registered address ST. Vincent and the Grenadines and is not regulated.
the company is explicitly clear that it does not provide any services for traders from the US, Japan, and Australia. Therefore, it is ultimately clear that Lucrum is not regulated.
Lucrum Review | What Are The Lucrum Account Funding Options & Cost Of Trading?
There are 4 types of accounts offered by Lucrum for all clients opening an account with the broker.
Lucrum used to stipulate a minimum deposit of $1000, but they have soon realized that a lack of regulation or any other innovative benefits to the trader will prevent traders from opening an account for a significant amount of money.
Therefore, Lucrum now offers a trading account for only $250, and traders are also offered an Lucrum bonus on all deposits up to 50% on the initial deposit.
There are more bonus options available for traders to test the platform using real money without actually investing a dime, and this is one of the huge benefits of opening an Lucrum account.
The bonus and profits can only be withdrawn after satisfying several conditions, and it is the responsibility of the traders to evaluate these conditions properly before trading with Lucrum.
The maximum Lucrum leverage is 1:200, which is certainly a respectable amount of leverage. A margin of 1:200 is neither too huge nor too low, as it is easy for traders to strike a balance between risk and reward. The one aspect where Lucrum.live excels in the industry is when one considers the cost of trading, which is one of the best trading conditions ever offered by an STP market maker broker.
the Broker spreads start from 0.3 pips with no commissions, which provides ECN like trading environment without the cost. An Lucrum trading account is the best option available in the market if you are looking for the tightest spreads and the lowest cost of trading.
Every Lucrum client has access to global financial markets to trade currency pairs, indices, metals, commodities, options, shares, and other ETFs. It is usually tough to find a broker that offers so many different financial instruments for a small deposit, which makes Lucrum one of the few mainstream Forex brokers that provides its traders with the option of diversifying their investment portfolio.
Trading On A Proprietary Lucrum Platform
Lucrum Review of the Lucrum trading platform shows us that is not like any other interface currently available in the market. Unlike conventional platforms such as the MT4, the Lucrum live platform offers access to the different markets using a revolutionary platform. The Lucrum Platform platform can be utilized across all Windows, Mac, and Linux operating systems, the presence of also of an Lucrum.live mobile trading platform will surely help the broker’s chances of catering to a large group of mobile traders who wish to trade on the go.
The Lucrum platform has all the essential features that one would expect from a Forex trading platform, but it does not have the dexterity and the performance when compared to the MT4.
Why Should I Choose Lucrum?
Lucrum has a tough job of convincing traders to open an account, especially since the broker does not have a valid regulatory status. But the advantages regarding the lower cost of trading, small initial deposit option, acceptable leverage, and an excellent customer service channel should enable traders to enjoy an overall excellent brokerage service.
Lucrum live can indeed work towards improving its positioning in the industry by being regulated by a regulatory body and redesigning their website to offer more information to the trader.
The wel designed website is clear, Having a feature-rich website will not only help traders to get more information on the brokerage services but will also help clients to trust the company to make an actual investment. The Lucrum bonuses, as well as a free educational tools, are excellent incentives for traders to test the broker before making an investment with the company.