LumineTrade (luminetrade.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.luminetrade.com.
The spread at LumineTrade (luminetrade.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through my accountant's suggestion and initially thought the platform was good - until I started trading seriously.
Pros: Quick verification|Competitive fees|Segregated accounts
Cons: Wait times can be long during peak hours
Opened my account with LumineTrade (luminetrade.com) after seeing their ad online and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Competitive fees|Reliable uptime|Segregated accounts|Multi-currency support
Cons: Research section could be deeper
LumineTrade (luminetrade.com) has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Good mobile app|Good analytical tools|Demo account available|Clean UI
Cons: Would like more payment methods|No phone support on weekends
Do not be fooled by the professional-looking website. Behind the scenes, LumineTrade (luminetrade.com) is disorganized and incompetent. I found them after a trusted YouTuber reviewed them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Tax reports included|No hidden fees|Multiple order types|Easy to use platform
Cons: No fractional shares
Customer support at LumineTrade (luminetrade.com) seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Tax reports included|Educational resources
Cons: None so far|Help articles are sometimes vague