UPDATE: We no longer recommend Lux Trading Firm
We strongly recommend you consider these prop firms instead:
Take Profit Trader – Save 50% with Coupon Code MODESTMONEY
Apex Trader Funding – Save 80% OFF Evals & One day Pass for a Limited Time with Coupon Code FXJEPTUV
Due to an unpleasant experience with this company I can no longer recommend them. As they never signed their name I never knew who I was talking to but it seemed to be someone high in the company. The entire conversation was very aggressive and rude. No other prop firms have ever talked to me this way.
Based on how they treated me I’m not surprised that they only pay traders 70% of profits. Most prop firms we have reviewed offer 80-90%.
Reading through negative reviews on TrustPilot it seems I’m not the only one who faces rude and aggressive correspondence. Each negative rating is basically met with an attack from Lux Trading Firm. It’s quite appalling that they would take this approach with customer service. It very well might be the same person who was emailing me. With the number of negative reviews I’d be suspicious about the positive reviews. Many companies flood that site with fake reviews.
I’d be extremely wary about trusting a company like this.
For anyone looking for a legit prop trading firm I recommend any of the following companies:
I’m leaving the old post intact below but please proceed with caution. Please do thorough research.
Lux Trading Firm is a platform that’s been creating ripples in the world of forex trading. As a prop firm offering opportunities for both novice and professional traders, its reputation is growing.
However, before you venture into the platform, it’s essential to understand, “Is Lux Trading Firm legit?” In this detailed Lux Trading Firm review, we explore various aspects of the firm to answer this critical question.
Learn More About Lux Trading Firm
Company Background
Lux Trading Firm, also known as LUX Trading, is a well-established proprietary trading firm, based in Manchester, UK, that caters to retail traders worldwide. The firm boasts an impressive track record and an excellent reputation, particularly within the forex community. The company’s primary aim is to nurture successful traders by providing access to real money in the real market via trading accounts funded by the firm.
Lux Trading Firm distinguishes itself from other prop trading firms by focusing on the continuous development of its traders, providing them with state-of-the-art trading platforms and educational resources. The firm promotes a diverse range of trading styles, from Swing traders to scalpers, thereby catering to an extensive array of trading careers.
The Role and Importance of Proprietary Trading Firms in Modern Trading
Proprietary trading firms, also known as prop firms, have emerged as significant players in the financial trading landscape. These firms use their own capital to trade in various financial markets such as stocks, forex, commodities, and derivatives. But their role extends far beyond this – they are an important bridge between the individual trader and the larger financial market.
Empowering Individual Traders
One key role prop firms like Lux Trading Firm play is that they empower individual traders, both experienced and novice. These firms allow traders to trade with larger capital than they would otherwise have access to, providing them with the opportunity to earn substantial profits. They also shield traders from personal financial risk since the trading capital is provided by the firm.
Education and Mentorship
Prop firms often offer education and mentorship to help traders improve their skills. They provide traders with educational resources, trading strategies, and insights into market trends. This focus on continuous learning helps traders stay updated with market movements and trading techniques.
Risk Management
Risk management is another crucial function of prop firms. They establish trading rules such as maximum drawdown, daily loss limits, and profit targets to ensure traders operate within manageable risk parameters. These rules help prevent substantial losses and encourage disciplined and responsible trading.
Access to Advanced Trading Platforms
Prop firms provide traders access to professional trading platforms. These platforms come equipped with advanced tools and indicators that allow traders to conduct in-depth market analysis, thereby helping them make informed trading decisions.
Click here for a list of top prop trading firms like Lux Trading.
Lux Trading Firm’s Evaluation Process
To ensure only the most competent traders get access to the real accounts, Lux Trading Firm has devised a meticulous two-stage evaluation process.
- Evaluation stage: In this stage, traders start with an evaluation account and have to meet specific profit targets within a set time limit. They also need to adhere to the maximum drawdown and daily loss limit to pass this stage successfully.
- Verification stage: Once a trader passes the initial evaluation, they proceed to this stage. Here, they have to replicate their success from the evaluation stage but under more relaxed trading rules, proving their consistency.
Traders who successfully complete both stages become eligible for funded accounts. Lux Trading Firm’s rules are stringent but clear, ensuring traders understand the trading rules, the profit split, and the maximum account size they’ll manage as a fund manager.
Trading Platforms
Lux Trading Firm uses Trader Evolution, a state-of-the-art platform that’s also used by many reputable forex brokers. Trader Evolution allows traders to perform comprehensive analysis and informed decision making, thus improving their trading style and enhancing potential profits.
Educational Resources and Trading Central
Lux Trading Firm is keen on improving its traders’ skills. To this end, they’ve partnered with Trading Central, a leading provider of investment research and financial market commentary. Traders get access to valuable insights that can help them refine their trading strategies.
Profit Targets, Drawdowns, and Profit Splits
Lux Trading Firm clearly states its profit targets, maximum loss limit, and profit splits. It does not impose a limit on profit targets, thus attracting experienced traders seeking to maximize their earnings. The firm also maintains a maximum drawdown to limit potential losses. The profit split arrangement is lucrative and straightforward, providing traders with a significant share of their profits.
Is Lux Trading Firm Legit? Final Thoughts
Given Lux Trading Firm’s transparent rules, intellectual property, funded accounts, access to real capital, and its perfect reputation within the trading community, the firm indeed seems to be a legit and promising proprietary trading firm.
Whether you’re an experienced trader aiming to trade with substantial capital or a novice trader looking to start your trading career, Lux Trading Firm provides a platform that caters to your needs. However, it’s important to remember that trading inherently involves risk, and it’s crucial not to risk more than you can afford to lose.
Click here to learn more.
Get Started With Lux Trading Firm
Related Prop Trading Firm Reviews:
- City Traders Imperium Review
- Earn2Trade Review
- FTMO Review
- Funded Trading Plus Review
- FundedNext Review
- InstantFunding.io Review
- Smart Prop Trader Review
- SurgeTrader Review
- The 5ers Review
- The Funded Trader Review
- The Trading Pit Review
- TickTick Trader Review
- TopStep Trader Review
- TradeDay Review
- Trader Career Path Review
- Traders With Edge Review
- UProfit Review
- Best Prop Trading Firms
- Best Forex Prop Trading Firms
- Best Funded Stock Trading Accounts
- Best Funded Forex Trading Accounts
- Best Crypto Prop Trading Firms
- Best Futures Prop Trading Firms
- Best Instant Funding Prop Firms
- Best Options Prop Trading Firms
- Compare Prop Firms