Luminex-fx (luminex-fx.com) has been flagged by Australian Securities and Investments Commission 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.
After seeing ads for Luminex-fx (luminex-fx.com) online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Australian Securities and Investments Commission. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Unauthorized firm|Found in IOSCO warnings database
I trusted Luminex-fx (luminex-fx.com) with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Multi-currency support|Personal attention|Regular updates|Reliable uptime
Cons: Could offer more webinars|Spreads widen during volatile periods
KYC with Luminex-fx (luminex-fx.com) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Customizable dashboard|Market news feed|Multi-currency support
Cons: Minor UI glitches occasionally|Inactivity fee applies after 12 months
I was contacted by Luminex-fx (luminex-fx.com) through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Pros: Professional looking website
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
The spread at Luminex-fx (luminex-fx.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after comparing multiple platforms and initially thought the platform was good - until I started trading seriously.
Pros: Fast support response|Multi-currency support
Cons: Research section could be deeper
I wanted to transfer my portfolio from another broker to Luminex-fx (luminex-fx.com). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Helpful community forum|Excellent charting|Good analytical tools
Cons: Withdrawal takes 1-2 business days|Minimum deposit could be lower