deluxe-trade has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. deluxe-trade recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Copy trading available|Responsive team
Cons: Mobile app could be improved|Limited cryptocurrency options
The spread at deluxe-trade is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them when my bank disappointed me and I searched for alternatives and initially thought the platform was good - until I started trading seriously.
Pros: Two-factor authentication|Demo account available|High security standards
Cons: Minor UI glitches occasionally|Wait times can be long during peak hours
deluxe-trade offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Comprehensive tools|Clear documentation
Cons: Minor UI glitches occasionally|Wait times can be long during peak hours
I gave deluxe-trade a fair chance. After for about three months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Multi-currency support|Transparent fees|Competitive fees|Detailed reporting
Cons: Spreads widen during volatile periods|Inactivity fee applies after 12 months
I invested $3,500 with deluxe-trade after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Conduct Authority.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
I lost a significant amount because deluxe-trade did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Easy withdrawals|Educational resources|Demo account available
Cons: Inactivity fee applies after 12 months
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. deluxe-trade said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Regular updates|Two-factor authentication|Reliable uptime
Cons: Nothing significant|Mobile app could be improved
My card was charged twice by deluxe-trade on the same day. I had to dispute it with my bank. deluxe-trade then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Portfolio tracking tools|Easy withdrawals|Copy trading available
Cons: Alert system is basic
After seeing ads for deluxe-trade online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Conduct Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Not registered with regulators|Unrealistic promises
For anyone considering deluxe-trade, please be aware that this company has been flagged by Financial Conduct Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Pros: Information is publicly available for verification
Cons: Appears in regulatory warnings database|Uncertain regulatory status