The easiest way to expose this broker is to check the company’s legal information, such as address, legal name, registration, and most importantly, license. Luckily, they present themselves as UK-based, which makes everything a lot easier.
But even if you exclude these details, there will be some other irregularities you have to watch for. Therefore, keep an eye on details in this honest LunoFx review.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | lunofx.com |
| Have Warnings From: | N/A |
| Registered In: | UK (allegedly) |
| Operating Since: | 2023 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $2.500 |
| Deposit Bonus: | Available |
| Trading Assets: | Cryptos, forex, indices, commodities, shares |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | Considering the numerous lies coming from this broker, you better request a withdrawal immediately. If any problem occurs, don’t wait a bit and contact our chargeback team for assistance as soon as possible. |
Legal Info: Is LunoFx Legit Or A Scam?
To recognize any investment scam nowadays is quite easy. Checking the regulatory status of the company is the first step. In this case, LunoFx should primarily have a license from the Financial Conduct Authority (FCA). Or at least be on the TPR list (Temporary Permission Regime). Yet, they aren’t.
On top of that, none of the other regulatory databases hold any records of this firm having a license. Starting with CFTC, IIROC, ASIC, or BaFin. Practically, without those, all the company’s security features are meaningless.
Who Are LunoFx’s Victims?
In general, the LunoFx broker didn’t have enough time to build or destroy its credibility. After all, analytics show their website has been active for only a few months. Still, some patterns are already visible. It appears this firm is mainly targeting traders from:
- Netherlands
- South Africa
- Mexico
- Australia
- Cyprus
Therefore, if you are coming from any of those, open four eyes. Thus, if you are already involved with this company, feel free to contact us for a free first refund consultation.
Investment Costs With LunoFx
Another key problem with this broker is that none of the relevant costs are revealed. Not even the leverage is disclosed. If you think about it, there’s no reason to purchase anything that has unclear conditions, especially when big amounts of money are in play.
In any case, you should bear in mind that UK brokers can offer maximum leverage of up to 1:30 for retail customers. Legitimate ones, of course.
Bonuses
Another feature that exposes this broker as a scam is a welcome bonus policy. For any $10 bonus, traders have to reach 10 mini lots (or one lot) that equals $100.000. Practically impossible, and before you reach those requirements, you can’t withdraw any funds. Moreover, such features are banned all across Europe for these reasons.
LunoFx Trading Features
The company claims to offer advanced customization and charting options, a user-friendly platform, trading signals, a trading bot, and more. Yet, there’s no proof any of that is true. If they only had transparent access to the platform, everything would be different.
Trading Platform Available
Every unregulated broker offering trading bot most likely has only a web-based platform. This way, they can modify what traders see from the backend and make it look like the bot is making profits.
That’s the easiest way to gain traders’ trust and make them deposit more money. Yet, to avoid such problems, we suggest you trade with brokers that offer cTrader or Meta Trader. This is not the case with LunoFx.
Available Trading Assets
Generally, offering more than 1000 assets from 5 different categories is not a bad deal. However, the reliability of data presented about those is highly questionable. Anyway, some of the options are:
- Forex – GBP/AUD, NZD/HKD
- Indices – DAX30, FTSE100
- Commodities – gold, natural gas
- Shares – Netflix, Airbus
- Cryptos – ETH, DOT
Account Types
As can be seen, LunoFx account types only present you with a bunch of fictive benefits. Such as risk-free trades, financial planning, independent contracts, VIP events, and more. Yet, they require insanely high deposits to get started with those. The options are:
- Bronze – $2.500
- Silver – $5.000
- Gold – $10.000
- Premium – $25.000
- Platinum – $50.000
- VIP Exclusive – $100.000
- CEO Managed – $500.000
Mobile Trading App
More disadvantages of this brokerage can be found while trading on a mobile. Instead of secure and fast iOS and Android apps, traders have to use a browser. Not the most convenient method if you like trading. Therefore, we suggest you read our LionTrader review and find some useful tips about security with a broker.
Demo Account
Demo accounts serve traders as an inspection route. This way, traders can ensure the brokers’ offer is reliable.
However, on the LunoFx platform, that’s not an option. If you compare it to any other legitimate broker, you will see why is important.
Education
Educational program with LunoFx scam broker is nothing but unreliable. After all, you will be learning from unlicensed traders. But in general, if they were legit, the options would be quite good. You can get technical and fundamental analysis lessons, live webinars, and risk management education.
LunoFx Withdrawal
The biggest issue with the LunoFx online trading platform is the withdrawal procedure. In fact, the company provided zero details about the procedure, fees, or processing time. Therefore, you can expect a wide range of issues. Starting with verification of your account and AML laws.
Customer Support
If you didn’t catch up with all the warning signs, you just have to check the company’s contact options. Only e-mail addresses and web question forms are available.
Yet, this company does not have phone numbers, Skype, or anything more reliable. Still, even that wouldn’t mean anything, as we can see from our VintageMarkets review.
Key Information To Consider About LunoFx
Firstly, the company is not licensed by any authority, especially not in the United Kingdom. On top of that, they are offering highly suspicious services on even more suspicious platforms. Not to mention unclear trading conditions, withdrawal fees, and poor customer service.
All in all, if traders took a minute to think about the company’s offer, nobody would accept it. Thus, very often, they crack under pressure. Therefore, if you lost money with this brokerage, reach out to our refund experts for advice. Don’t worry, the first meeting is free of charge. Book yours now.
FAQ Section
What is LunoFx?
LunoFx is an anonymous FX and CFD trading firm operating allegedly from the United Kingdom.
Is LunoFx Regulated?
No. Primarily, the company is not licensed by the UK’s most important authority – FCA. Neither are they licensed by any other more or less trusted institution.
What is a Chargeback?
A chargeback occurs when a cardholder disputes a charge on their account, and their bank reverses the debit or credit card transaction. To start the process, contact us.
