Lumine Trade (lumine-ltd.com) has been flagged by ASIC (Australia) for "Unlicensed". Phones: 61251108353, 442034359251, 14388047756
Addresses: 10 Finsbury Square London EC2A 1AF UK This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.lumine-ltd.com.
The spread at Lumine Trade (lumine-ltd.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them from a blog post comparing services and initially thought the platform was good - until I started trading seriously.
Pros: Good analytical tools|Segregated accounts|Smooth onboarding|Copy trading available
Cons: No live chat on mobile|Website design could be more modern
Lumine Trade (lumine-ltd.com) advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Regular platform improvements|Multi-currency support
Cons: Inactivity fee applies after 12 months|Account statements could be more detailed
I closed a profitable position at Lumine Trade (lumine-ltd.com) and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Intuitive for beginners|Helpful community forum|Demo account available
Cons: Cannot customize dashboard fully|Could offer more webinars
Lumine Trade (lumine-ltd.com) 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: Clear documentation|Demo account available|Professional team
Cons: Help articles are sometimes vague