LucroTrade is an unlicensed Crypto Currency and Forex CFD Broker, that opened in May 2018.
For complaints and broker withdrawal problems should read this.
LucroTrade Review
Our review of the brokers LucroTrade shows that their investors have access to the online trading platform, which was developed by the Finantick company. The software is 100% web based and they offer CFD trading on a variety of Crypto Currencies including: Ripple, Bitcoin, Litecoin, Dash, Ethereum and more. Additionally you will find Contracts for Difference on Forex Currency Pairs.
Three account types are shown, with the minimum deposit starting at $250. The website is a bad mix between German and English, maybe because they have not finished with their translation and localization. We see that they are offering new investors bonus money of 25% – 100%, but if read their terms and conditions page you will see, that in order to withdraw your money after accepting a bonus, you need to have trading volume of 40 times the bonus amount.
Bonus money is the main reason of investor complaints when they cannot withdraw their money, read why.
Scam Trading Robots
Hundreds of “Get Rich Quick” scams that are focused on Crypto Currency investing are all over the internet. Software which goes by the name “Singapore Formula” or “Bitcoin Revolution”, promise to make money for you, but they don’t actually work.
First educate yourself on how these scams operate, so you do not become their next victim, read more.
LucroTrade License Check
When the Scam Broker Investigator researches a new Forex / Crypto trading broker to determine if they are a scam or legitimate broker, we check for one thing, and that is a brokers license. Legitimate brokers will be licensed in the United Kingdom by the Financial Conduct Authority or by ASIC in Australia.
LucroTrade is not a licensed broker!
LucroTrade is owned by a company called IVS Holdings LTD, which is located at: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. Phone number in Switzerland is: +41 61 508 3035, and their email address is: [email protected]. Official website is: https://www.LucroTrade.com.
SIV Service Ltd, is mentioned as the company operating the brokerage firm, but they are not licensed either.
Compare Crypto Brokers
The best forex broker is a very general statement, because each investor has their own needs and requirements from their broker. However, a smart investor will always have their main broker, and another broker as a backup. You can see our list of most popular brokers.
ForTrade is a very popular Forex broker, regulated both in Australia and England by the FCA and ASIC, see here.
Register your Free Trading Account at: ForTrade.com.