Lucrado
Pros and Cons
Pros
- Diverse trading instruments: Forex, commodities, stocks, cryptocurrencies, and indices
- High leverage options: Up to 1:600 available for traders
- Multiple customer support channels: Email and phone support available
- Popular payment options: Accepts VISA, MasterCard, Skrill, PayPal, and Neteller
- Web trader and mobile app platforms for trading accessibility
Cons
- No valid regulatory oversight
- High minimum deposit of $5,000
- Limited trading platform options (no MT4/MT5)
- Lack of demo account for practice
- Unclear spread and commission details
Basic Information
User Reviews
Lucrado Overview
Lucrado, founded in 2019, is a forex broker based in the Marshall Islands. While it offers a diverse range of trading options, including forex and cryptocurrencies, it is crucial to note that Lucrado operates without regulation from any prominent financial authority. This lack of oversight raises concerns regarding the safety and security of funds for potential traders, necessitating a cautious approach for anyone considering trading with this broker.
Lucrado provides access to over 250 trading instruments, with accounts available at a minimum deposit of $250 and leverage reaching up to 1:600. The broker’s platforms include a web trader and a mobile app, catering to traders’ varying needs. Customer support is accessible through multiple channels, although detailed information on spreads and commissions remains unclear. Overall, while Lucrado presents a variety of trading options, the absence of regulation and transparency in its services warrants careful consideration before engaging in trading activities.
Is Lucrado Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No regulation | Marshall Islands | No investor protection measures |
Is Lucrado Regulated and How Are Client Funds Protected?
Lucrado is not regulated by any recognized financial authority, which presents significant risks for investors. The absence of regulation means that there are no established oversight mechanisms to protect client funds. This lack of investor protection increases the potential for fraud and financial loss. Additionally, traders should be cautious of the high leverage offered by Lucrado, as it can amplify risks associated with trading. Without regulatory safeguards, traders may find it difficult to recover their funds in case of disputes or mismanagement.
Trading Products and Services
What trading instruments does Lucrado offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/USD | 250+ |
| Commodities | Gold, Silver, Crude Oil | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100 | Varies |
| Stocks | Apple, Tesla, BP | Varies |
| Cryptocurrencies | BTC, ETH, XRP | Varies |
Lucrado offers a diverse range of trading instruments across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies. This broad selection caters to various types of traders, from beginners to seasoned professionals, allowing them to implement a range of trading strategies. By supporting numerous asset types, Lucrado facilitates portfolio diversification, enabling traders to manage risk effectively and adapt to changing market conditions. Whether you are looking to engage in Forex trading or explore other markets, Lucrado provides the tools necessary for flexible trading and informed decision-making.
Account Types and Trading Conditions
What Account Types and Fees Does Lucrado Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Essential Account | Beginner Traders | Low minimum deposit, access to various trading instruments | Suitable for small-capital practice |
| Standard Account | Intermediate Traders | Higher leverage, competitive spreads | Requires a minimum deposit of $5,000 |
| Premium Account | Experienced Traders | Exclusive features, personalized service, lowest spreads | Requires higher trading volumes for eligibility |
Account Opening Process
To open an account with Lucrado, users must follow a structured process that includes the submission of personal, employment, and financial information. Verification of identity is essential, requiring documents such as a government-issued ID and proof of address. Once the initial account is set up, users have the flexibility to upgrade to a professional account as they increase their trading activity or meet eligibility requirements.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive for major pairs |
| CFDs (Stocks) | 0.5 | $0 (ECN: $5/lot) | Variety in stock trading |
| CFDs (Commodities) | 1.5 | $0 (ECN: $5/lot) | Includes gold and oil |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market conditions |
Other Fees
In addition to trading fees, Lucrado may impose additional charges, including deposit and withdrawal fees, which vary depending on the payment method used. Inactivity fees are applicable if the account remains dormant for a specified period. There may also be platform usage fees if applicable, along with overnight interest (swap rates) for positions held overnight. Currency conversion fees may apply when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Lucrado Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| Web Version | Windows, macOS | Login security (encryption), symbol lookup, multiple order types, price alerts | No demo accounts, no VPS |
| Mobile App | iOS, Android | Login security (biometrics), push notifications, one-click trading, economic calendar | No demo accounts, no API |
| MT4/MT5 | Windows, macOS | Not supported | No demo accounts, no VPS |
Lucrado offers a web version and a mobile app for trading, catering to both desktop and mobile users. The web platform provides essential features like encryption for secure logins and tools for market search, while the mobile app enhances accessibility with biometric security and real-time notifications. However, neither platform supports the widely used MT4 or MT5, which may limit advanced trading functionalities sought by experienced traders. Overall, Lucrado prioritizes mobile trading and ensures secure logins, but does not offer demo accounts or additional services like VPS or APIs.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-2 business days | No platform fee, 0.5% for international transfers | Min 100, Max 50k/day | EUR, USD |
| GrabPay | Instant | No fees | Min 20, Max 5k/day | USD, SGD |
| SPEI | Instant | No platform fee, 1% for transfers over 10k | Min 50, Max 15k/day | MXN, USD |
| Bitcoin | Instant | No fees | Min 0.001 BTC, Max 1 BTC/day | BTC, USD |
Minimum Deposit
Lucrado requires a minimum deposit of $50 to open a trading account. This amount is consistent across all payment methods and account types, ensuring accessibility for all traders.
How to Withdraw
To withdraw funds from your Lucrado account, follow these steps:
- Log into your Lucrado trading account.
- Navigate to the ‘Withdrawal’ section in the account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the minimum requirement.
- Submit your withdrawal request.
- Check your email for confirmation of your withdrawal request and tracking details.
Customer Support
Lucrado Customer Support Overview
Support Channels
Lucrado offers various contact methods to assist customers effectively. You can reach their support team through:
- Email: Customers can send inquiries to support@lucrado.com, ensuring a prompt response to their questions.
- Live Chat: For immediate assistance, Lucrado features a live chat option on their website, allowing customers to get help in real-time.
- Telephone: You can contact Lucrado at +56 225952934 for direct support.
- Social Media: Lucrado is also active on various social media platforms, providing additional channels for customer contact.
Service Availability
Lucrado’s customer service is available 24/5, catering to clients during the business week. They offer multilingual support in several languages to accommodate diverse clientele, ensuring that help is accessible to all users.
Additional Resources
To enhance the trading experience, Lucrado provides valuable educational resources, including:
- Video tutorials that guide users through trading platforms and strategies.
- Webinars for in-depth learning and market insights.
- Regular market analysis to keep clients informed.
- Trading signals to assist traders in making informed decisions.
Frequently Asked Questions
Lucrado is currently unregulated and does not hold any licenses from recognized financial regulatory authorities. This lack of regulation poses significant risks for traders, as there are no guarantees regarding the safety of funds or adherence to industry standards.
Lucrado offers a maximum leverage of up to 1:600 and supports over 250 trading instruments, including forex, commodities, indices, and cryptocurrencies. However, the minimum deposit requirement varies by account type, starting from $250, and specific details about spreads and commissions are not clearly provided.
Given that Lucrado is not regulated, the security of your funds cannot be guaranteed. Traders should exercise caution and consider the potential risks associated with trading with an unregulated broker. It’s advisable to use only funds that you can afford to lose.
Lucrado provides a web trading platform and a mobile app, but it does not support popular platforms like MT4 or MT5. The user experience may vary, and as there is no demo account available, potential traders cannot practice or familiarize themselves with the platform before investing.
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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.