Lutianwl has been flagged by Dubai Financial Services Authority for "Unregistered/Unlicensed entity offering financial products or services". The Dubai Financial Services Authority (DFSA) alerts the financial services community and the public to a scam in which a firm named Lutianwl falsely claims to be regulated by the DFSA.
On its website (https://lutianwl.com/), the firm:
falsely claims to be authorised by two regulators, includin... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The reporting at Lutianwl is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Educational resources|Excellent charting|Professional team
Cons: Spreads widen during volatile periods
I have been trying to close my account with Lutianwl for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Multi-device support|Regular platform improvements
Cons: Research section could be deeper
I found Lutianwl through word of mouth in my investment club and the initial impression was positive. But since last summer later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Professional team|Regular updates|Tax reports included|Multi-device support
Cons: Would like more payment methods|Limited ETF selection
Lutianwl has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: High security standards|Competitive fees
Cons: Some tools only available on higher tiers|No fractional shares
Lutianwl locked my account without warning and demanded documents I had already submitted. for the past year and a half later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Dividend tracking|Comprehensive tools|Stable platform|Fast support response
Cons: Cannot customize dashboard fully|Minimum deposit could be lower
What really bothers me about Lutianwl is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them after attending a webinar they hosted and I fell for the polished exterior. Never again.
Pros: Portfolio tracking tools|Social trading features|Intuitive for beginners
Cons: No live chat on mobile
After seeing ads for Lutianwl online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Dubai Financial Services Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Flagged by Dubai Financial Services Authority|Cannot verify credentials
Do not be fooled by the professional-looking website. Behind the scenes, Lutianwl is disorganized and incompetent. I found them after seeing their ad online and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Excellent charting|Multiple order types
Cons: Email notifications too frequent|Nothing significant
My withdrawal request from Lutianwl has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Two-factor authentication|Wide product range
Cons: Limited demo account features|Email notifications too frequent
If you are reading this considering Lutianwl - run. I wish I had read more negative reviews after attending a webinar they hosted. I thought the positive ones were real. Maybe some are. My experience over for about eight months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Dividend tracking|Risk management tools|Personal attention|Professional team
Cons: Withdrawal takes 1-2 business days