Despite the abundance of reviews online, including positive ones, Luxtious remains a suspicious and risky broker for trading Forex/CFDs. It’s not the platform it appears to be or claims to be. There are plenty of signs of a scam, so it’s wise not to rush into opening a brokerage account and to thoroughly investigate everything first.
Brief Overview
- 🖥Official Website: luxtious.com
- ✈️Contact Address: Fomboni, Island of Mohéli, Comoros Union
- 📞Customer Support: +18007059578, [email protected]
- 🔐Licensing and Accreditation: MISA
- ⏳Track Record: 2023
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $2,500, 1:200
- 💰Additional Services: swap-free account, personal manager, analysis
Luxtious.com Examination
When you open the official website, you are greeted by a pleasant-looking woman against a backdrop of charts, logos of well-known brands, and Buy/Sell buttons. There’s also an image of a person on a rocket, but nothing more. It all seems rather cheap and unprofessional.
The structure of Luxtious’ official website is fairly standard:
- Header. Contains sections for trading conditions, tools, company information, and contacts, along with registration and login buttons. You can also select one of the seven languages here.
- Homepage. Lists the conditions, pseudo-advantages, available opportunities, and other details.
- Footer. Includes legal information, a risk disclaimer, duplicated sections from the header, contact details, and links to accounts on X (Twitter) and YouTube.
Although the site looks presentable, it clearly lacks information. Luxtious does not provide crucial details such as its founding date, business model, licenses, or the names of its founders and directors. Overall, it’s difficult to give this brokerage portal a positive assessment.
Company Contacts
You can contact the managers and representatives of Luxtious through their hotline or via email. Looking at the contact options, it’s clear that the company is small-scale, as only one phone number and one email address are provided. In contrast, large and serious brokers typically offer multiple phone numbers and different email addresses for various inquiries, such as verification, withdrawals, technical issues, and so on.
You can also try writing in the online chat, but you’ll need to provide your name and email address first. The firm is not known for quick responses, and sometimes users are left without a reply altogether.
Key Conditions
One of the first things that stands out is the large minimum deposit. Luxtious seems to think of itself as a premium-level broker and demands a minimum deposit of $2,500 from traders. The organization is clearly exaggerating — many more well-known firms have no minimum deposit at all. Additionally, there’s no cent account or demo account available here, which are major drawbacks of the platform.
Additional services depend on the plan chosen by the client. The plans differ not only in the range of features but also in the size of the deposit required to activate them. In simple terms, the better the account type, the more money you need to invest, but also the more opportunities you will have. What types of firms use this approach? Predominantly fraudulent ones, as scammers benefit when the victim deposits as much money as possible, which is why they offer such a range of plans.
A leverage of 1:200 immediately suggests a lack of regulation by any serious financial commission. Commissions are listed as “Low”, but no specific amounts are provided. Spreads remain a mystery as well. This means it’s impossible to determine whether trading here is profitable or not.
Additionally, Luxtious promises to process withdrawal requests within 1-5 business days. First, this is very slow. Second, it also indicates a lack of regulation, as financial commissions typically require companies to process client withdrawals within 24 hours. Scammers don’t care about these rules, and it’s unlikely that withdrawals are even possible here.
Exposing Luxtious
It’s not just the trading conditions that indicate suspicious activity by the company. There are more serious signs of a scam, and the first of these is the company’s operating period. The broker doesn’t disclose when it was registered, but this is easy to find out. First, you can check when the domain luxtious.com was registered. The scammers created it in October 2023, less than a year ago. Second, social media profiles appeared in early 2024. Third, the first reviews and mentions online are also dated to the end of 2023. Everything points to the platform launching in the fall of 2023. Perhaps this is why the scammers decided not to disclose anything about their experience — because they don’t have any.
The company disclosed its legal entity, registered in the Comoros Union, and has a MISA registration number of T2023299. However, having a license from MISA provides no real guarantees. This financial commission does not have the same authority and seriousness as other, more well-known regulators like the FCA, CySEC, or ASIC. Having such regulation does not guarantee reliability, so client funds will still be at great risk. Therefore, this fact should not be given much attention.
However, it is also important to consider the business model. Luxtious operates as a dealing desk, meaning the platform does not send users’ trades to a liquidity provider or interbank market (ECN) but processes them internally. This wouldn’t be a problem except for the fact that this type of business model involves a conflict of interest: the company profits only when clients lose money. The short operating period, lack of a credible license, and absence of a solid reputation are serious drawbacks, which means the firm can easily manipulate traders to take their money. This is the only way it can make a profit.
What Reviews Do Users Leave?
On various portals dedicated to reviews of brokerage companies, you can find over 100 reviews about Luxtious. The overwhelming majority of these reviews have ratings of 4 and 5 stars, meaning they are positive. However, this should not be taken as a green flag. These reviews are fake, ordered by the scammers to advertise the platform and attract naive traders and investors. The presence of such comments is actually a red flag.
Conclusions
Pros/Cons
- The company lists legal details from the Comoros Union registry.
- Unfavorable trading conditions.
- The firm has been caught publishing fake positive reviews.
- The platform profits from traders' losses.
- No serious regulation and lacks extensive experience.
SCAM, SCAM, SCAM!!! Just an ordinary RUGPULL AND FAKE COMPANY. They’ll stop existing soon because the truth about their fraud will spread all over the internet! You’ll see! THEY SCAMMED ME!!!
I don’t know, but it seems to me that Luxtious is a very dangerous brokerage company. Has anyone even traded here? I haven’t seen a single positive review where the user provided screenshots or any other evidence that the company actually pays out money and isn’t just scamming clients. I think that one license from M.I.S.A isn’t enough to trust this firm with your money. But that’s just my opinion, and I’m not forcing it on anyone. And then there’s the high minimum deposit. Where did they even come up with $2,500? Why not $100? Or even $10? If the minimum deposit were $10, I would have funded the account just to try it out. But risking $2,500 – no thanks, that’s just foolish.
If you’re looking for an answer to the question, “Is LUXTIOUS a scam?” then I’ll tell you – yes, it’s a blatant and disgraceful scam that only pretends to be a safe and legitimate broker, but in reality, it’s just out to steal people’s money. Unfortunately, I became a victim of these fraudsters. Losing $12,000 doesn’t make me happy at all. What good is MISA? I tried to file a complaint with them since the company is ignoring me and refusing to withdraw my money to my card. But it’s as if the regulator is in cahoots with these criminals. So just know that this is a simple scam and a fake broker.
Luxtious has stolen more than 10 000 $ because I did want follow their recommendations to invest 15 000 $ after investing 5 500 $. I am trying to get back my money but they sent a message to me that they will not and they turned my account which was 10 000 $ positive into – 10 000 $. In one day.