Lucrado
Basic Information
Pros and Cons
Pros
- Diverse trading instruments available
- High leverage up to 1:600
- Minimum deposit requirement of $250
- Multiple customer support channels
Cons
- No regulation from financial authorities
- Withdrawal process complications reported
- Lack of transparency in operations
- No support for MT4 or MT5 platforms
Is Lucrado Safe and Legit?
Lucrado, registered in the Marshall Islands in 2019, operates with around 1-2 years of experience. It offers a variety of trading instruments, including over 250 currency pairs, commodities, and indices, with leverage up to 1:600 and a minimum deposit requirement of $250. The trading platform utilized is a proprietary web-based application, as it does not support popular platforms like MT4 or MT5.
Lucrado is not regulated by any financial authority, raising significant concerns regarding its safety and legality. As it lacks proper oversight, traders should exercise caution and be aware of the inherent risks associated with trading through unregulated brokers.
Market feedback on Lucrado indicates a mixed reputation. Users have expressed concerns regarding customer service quality and withdrawal difficulties, with reports of complications during the withdrawal process. Transparency issues and a notable frequency of complaints suggest potential red flags, prompting many in the trading community to recommend caution when considering this broker.
Is Lucrado a Regulated Broker?
What Are the Regulatory Licenses Held by Lucrado?
No regulated licenses are held by Lucrado, which is registered in the Marshall Islands. As it lacks regulation from any financial authority, this raises significant concerns regarding its safety and legality. Traders should be cautious and fully aware of the risks associated with trading through an unregulated broker. It is important to understand that without proper oversight, the potential for issues related to customer service and withdrawal processes may increase, as indicated by user feedback and market reputation.
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
Lucrado does not hold client funds in independently regulated bank accounts, nor does it participate in any investor compensation funds or insurance schemes. This lack of regulatory oversight raises significant concerns regarding the protection of client funds and the overall safety of trading with this broker.
Lucrado Leverage
Lucrado offers maximum leverage of up to 1:600, which is substantial. However, as the broker is not regulated, it does not comply with any local regulatory requirements that may limit leverage for retail or professional clients, exposing traders to higher risks.
Lucrado Withdrawal Review
How to Contact Lucrado?
Market feedback on Lucrado reveals a concerning trend, particularly regarding withdrawal issues. Users frequently report complications during the withdrawal process, with complaints indicating difficulties in accessing their funds. These complaints are sourced from various online forums and review sites, highlighting a pattern of dissatisfaction. The broker’s response to these complaints has been noted as slow, with many customers expressing frustration over the lack of timely resolutions. Overall, there is a significant volume of similar complaints, raising red flags about the broker’s reliability. Given the lack of regulatory oversight, potential traders should be cautious.
Frequently Asked Questions
A1: Lucrado is not regulated by any financial authority, which raises significant concerns regarding its safety and legality. Without regulatory oversight, traders should exercise caution and be aware of the inherent risks associated with trading through this unregulated broker.
A2: Lucrado does not hold any regulated licenses, as it is registered in the Marshall Islands. This lack of regulation is a major point of concern for potential traders regarding the broker’s legitimacy and operational safety.
A3: Lucrado does not keep client funds in independently regulated bank accounts, nor does it participate in any investor compensation funds or insurance schemes. This absence of capital protection measures heightens the risk associated with trading through this broker.
A4: Market feedback indicates frequent complications during the withdrawal process with Lucrado, with many users reporting difficulties accessing their funds. Complaints suggest slow responses from customer service, leading to frustration among traders.
A5: Lucrado offers multiple customer support channels, including a contact number and email address. However, user feedback indicates that the quality of customer service may not meet expectations, particularly regarding timely resolutions.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.