Note: LucroTrade's official site - https://www.lucrotrade.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is LucroTrade？
LucroTrade, also known as IVS Holdings Ltd, is a broker based in Saint Vincent and the Grenadines. It currently holds no regulations and its official website has already shut down.
Pros & Cons
Pros:
Cons:
No Regulation: LucroTrade operates without any specific regulatory oversight. This is a significant risk factor as uncertainty regarding standards adherence and investor security arises.
Dead Website: The company's official website is dead. This makes access to important trading information, news, and customer support challenging for customers or potential investors.
Is LucroTrade Legit？
Regulatory Sight: LucroTrade is currently functioning without any regulation, meaning it does not fall under the supervision of any financial regulatory bodies and does not possess any licenses to operate in the financial market. The absence of any such oversight raises concerns about the firms adherence to financial standards and regulations, increasing the risk for investors.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
LucroTrade offers a certain range of market instruments. These include:
Cryptocurrencies: Traders can engage in the dynamic and rapidly evolving crypto market, trading in various digital currencies.
Forex: Forex trading involves the exchange of one currency for another, and it is the largest and most liquid market in the world.
Spreads
LucroTrade provides a fixed spread of 0.9 pips, which is very competitive and tight. A fixed spread means that the spread value does not change according to market conditions. It remains consistent regardless of trading time or market volatility. A spread of 0.9 pips is very advantageous for users, since the average spread provided by other brokers in the industry is at around 1.5 pips.
Deposit & Withdrawal
LucroTrade supports several payment methods. These include:
MasterCard: MasterCard is one of the most widely accepted credit card options at LucroTrade. It allows for quick and secure transactions.
Wire Transfer: For those who prefer not to use credit cards, LucroTrade offers the option of using wire transfers. Wire transfers are ideal for users who are moving large amounts of capital or trading at a high volume.
Bitcoin: Understanding the growing trend in cryptocurrency investments, LucroTrade also supports Bitcoin.
Customer Support
LucroTrade provides a certain range of customer support channels. These include:
Telephone Support: Clients can reach out to LucroTrade's customer support team by calling the provided telephone number, +41615083035. This direct line offers a more immediate form of communication for urgent inquiries or issues that require a quick response.
Email Support: For less urgent matters or when detailed documentation is needed, customers can contact LucroTrade via email atsupport@lucrotrade.com.
Physical Mailing Address: Although the primary methods of support are telephonic and electronic, LucroTrade also provides a physical mailing address: Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. This address can be used for official correspondence or legal matters requiring a physical document trail.
Conclusion
As a broker, LucroTrade provides a competitive spread. However, it currently has no regulations with its official website already dead. In this case, we do not recommend users to trade with this broker.
Frequently Asked Questions (FAQs)
Question: What spread does LucroTrade provide？
Answer: LucroTrade provides a fixed spread of 0.9 pips.
Question: Is LucroTrade regulated？
Answer: No, LucroTrade is not regulated.
Question: Does LucroTrade support MT4/5？
Answer: No, it supports neither.
Question: Is my money safe with LucroTrade？
Answer: Not at all. LucroTrade is not a regulated broker and it does not apply extra security protocols either. What's worse, its official website is dead already.
Question: What is the minimum deposit required？
Answer: The minimum deposit required is $250.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
