Lucrum Review Forex Broker |
is Lucrum a good broker to trade with and do they offer enough to be an options
Lucrum Review Forex Broker |
Bestmt5brokers.com Introduction to Lucrum.live
they are a provider for online trading and investment services and try to offer you reliability that meets the highest standards. Lucrum offers you the entire spectrum of asset classes and financial instruments, including stocks, Indices, CFD’s, currencies and Cryptocurrencies. With more than 50 exchanges worldwide.
Lucrum provides a decent portfolio for users to choose from. In terms of forex currency pairs, the major pairs are covered with a decent selection of exotics as well. Although not the most comprehensive in terms of volume, all the main currency pairs are available to trade, and the vast majority of forex traders should be more than satisfied. In addition to the 15 indices on offer, Lucrum also provide support for cryptocurrency trading across digital currencies.
This is a great selection, and it’s fantastic to see Lucrum so strongly supporting digital asset classes.
BESTMT5Brokers.com Quick Look at Lucrum.live
COMMISSIONS AND FEE CHARGES
One of the most important factors when it comes to deciding which of the many platforms out there you want to use, is how much it will actually cost you.
Figuring out what fees you will have to pay on each trade or, alternatively, what kind of spreads you will be offered, will have a massive impact on the overall profitability of your portfolio. Figuring this out, however, is often a lot more difficult to do than you would think, and trading platforms tend to make this information difficult to find.
This is not the case with this broker, as we discovered during our review of Lucrum, as they are incredibly up front about exactly how much it will cost you to trade with them. Lucrum endeavours to offer the most competitive spreads possible on all the asset classes listed on the platform, and detailed information on this can be viewed through the main page of the website itself.
Their advanced pricing system ensures spreads stay tight and competitive. Whilst not necessarily the tightest out there, Lucrum ranks competitively other brokers.
The markets are listed beneath the products category. Items include forex, commodities, stocks, and indices.
Forex pairs : there are 52+ forex pairs available with fixed spreads and variable spreads. Traders can enjoy leverage of just one 1:400 on forex. Popular pairs like USD/GBP, GBP/JPY, GBP/EUR, and EUR/USD are available.
Commodities : there are many commodities including silver, gold, and crude oil. There are fixed and variable spreads on commodities and these monetary instruments may also be traded in a demo setting.
Stocks : Stocks are available with leverage of just one 1:100, and the biggest global companies are currently listed. Traders can enjoy demo accounts trading on stocks or real cash trading.
Indices: various indices are currently available at Lucrum. Scores of global indices have already been listed with fixed spreads and variable spreads.
In total, there are some 150+ markets open to traders at Lucrum, with many more assets regularly being added.
WHAT OTHERS SAY
Lucrum offers a number of different account types through the trading platform, such as the web-based Trading platform. Trading accounts can be opened up on the platform in your chosen currency and the amount of leverage you want to have access to depends on the type of account you open. Once the various account options have been set, the account then goes live and you can begin trading.
It was discovered during this Lucrum brokerage review that demo trading accounts are available for all users who sign up to the platform. Importantly, these are free, unlimited and never expire.
The demo account is a great way to try out the platform before committing any real funds, and it’s great to see Lucrum not placing any time limits on these accounts.
A somewhat unusual feature you have access to through your Lucrum brokerage account is the ability to set up an Islamic finance compatible account. To do so, simply contact a customer service representative and they will guide you through the process. This is a somewhat unique feature and not one we often see available, so it’s very much a welcome addition
When it comes time to actually trade on the Lucrum platform, there are a number of options on offer for users. Firstly, users are given access to the trading platform.
The interface is incredibly user-friendly, meaning it won’t put off novice traders, while still offering all the advanced options more experienced traders could hope for.
The built-in charting package is incredibly functional, and gives users access to line, bar and candlestick charts, in addition to nine time frames, built-in technical indicators, Fibonacci retracements, trend lines and much more.
PLATFORM FEATURES AND TOOLS
One of the most overlooked aspects of many trading platform websites out there is the overall usability of the website. Given how central this is to the overall experience, you would think that significant effort would be put into making forex trading websites as usable as possible. However, for most platforms out there, this is not the case. Often forex trading websites tend to feel cluttered and counterintuitive.
When it comes to the Lucrum website, however, this is not the case. The overall design of the website is excellent, and it is one of the most intuitive and simplest to use we have ever reviewed. The aesthetic is very sleek looking and is something the team at Lucrum have obviously put a lot of effort into.
All the relevant information is easy to find within a matter of moments and you never feel like you are having to search too deeply to find what you want. We were particularly impressed with the FAQ and ‘Search’ section of the website during our review of Lucrum, which worked flawlessly.
The only criticism we would make is that the web trader can feel a little bit basic for our tastes.
LUCRUM MOBILE TRADING
When it comes to choosing an online brokerage, one of the most important aspects of any platform is how well the customer support stacks up to the competition. This is so important in the context of online forex trading, as you are dealing with potentially sensitive financial and personal information, and any issues with this could potentially cost you big.
Unfortunately, this is not always the case for many brokerages out there. And in the world of forex trading, customer service can often be quite slow and unresponsive.
When it comes to the customer support offered by Lucrum, however, this is most certainly not the case.
In this reviewer’s experience, the customer support at Lucrum has been generally very positive. Response times to any queries we had were typically very quick, and the answers given were knowledgeable and, most importantly, actionable.
Customer support is available through the website via phone, email or live chat 24/7. Having customer support on hand 24/7 is a rarity for this industry where coverage typically tends to be provided on a 9-5, 5-day per week basis. In this regard, it is very encouraging to see Lucrum going that extra mile.
you can reach them directly here – +442033182403
Lucrum Deposit options
Getting started with a real money account is quickly done. Lucrum accounts registration can be completed within one minute. Traders must enter important info like first name, last name, address, a password, currency, email and telephone. Account funding options are secured by SSL encryption and cover the next bank cards and alternative payment methods: Visa, MasterCard, Maestro, UnionPay, the minimum amount accounts deposit in USD can be $250. Bitcoins are also accepted for deposit reasons.
Having only been founded in 2019, these are still very early days for Lucrum. Having said that, the progress they have made in such a relatively short amount of time is very promising. When it comes to trading on the platform, the experience is very smooth overall, and it certainly matches that of its similarly sized competitors.
While not having the biggest spread of currency pairs available, the selection of assets classes is pretty decent overall and should be more than enough for most traders out there.
The support for cryptocurrencies is particularly good, and Bitcoin support is seamlessly integrated into the platform. Although we would like to see support for more platforms, their trading platform more than does the job – this could be something to implement in the future, however.
This review of Lucrum also highlighted the affiliate program, which offers users a great way to make a little bit of extra cash. Considering the high levels of customer support and generally robust trading on offer, Lucrum compares very favorably to the highest-ranking platforms in our broker comparison.