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Luxstar Group Review: Luxstargroup.com Forex Scam

Luxstar Group Review: Luxstargroup.com Forex Scam

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Luxstar Group (Luxstargroup.com) is another bane CFDs, Cryptocurrency, and Forex scam claiming to offer AI managed accounts. LuxstarGroup is professing to be specialists in aggressive capital growth. With so many AI managed accounts platform popping out, it becomes hard to know a legit one. And this is why we have taken our time to conduct this eye-opening investigation. Read this genuine and honest LUXSTAR GROUP Review for more details.

Luxstar Group review

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Luxstar Group Review

After receiving numerous email complaints from members, we decided to investigate this platform. What looks like a legit trading and AI managed platform is nothing but a shoddy piece of work. Scam artists have taken advantage of the new AI managed account market. And this is why we must expose some of these scams to keep the trading world safe. Make sure to stay away from Luxstar Group as it is filled with professional scam artists. Want to know more? We suggest you continue reading this entire review.

Professional scam artist will go to different lengths to steal from unsuspecting online investors. Luxstar Group is no different as they have cloned a real trading website. By copy and pasting information from a real AI managed account, it makes the platform appear legit. Thanks to our years of investing and trading experience, we know how to spot a scam from a mile away. These traps set by LuxstarGroup will be exposed and we hope none of our readers fall victim to them.

About Luxstar Group

Looking at their contact page, Luxstar Group is claiming to be based in Luxembourg. The company register in Luxembourg and other European countries does not have this platform. What this means is that Luxstar group as a company is not in existence. Scam artists will do anything to make their platforms appear legit. Even use random company names to try and feign legitimacy. It is best you stay away from any unregistered online investment trading platform.

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Anonymity is another red flag we spotted with this platform. The entire website does not mention the founding members of this platform. You are not given any information regarding the history of this platform. And this is why you should be careful with signing up with unknown platforms. In case of winding up, no one will be able to reach the owners of this platform. A smart investor knows better than to sign up with a sleazy trading platform. Anonymous online investment platforms are a no go zone.

Is Luxstar Group licensed or registered?

The Commission De Surveillance du Secteur Financier (CSSF) does not recognize this platform. You would expect a platform which claims to be based in Luxembourg to be duly recognized by authorities. And this is where we draw the line with this platform as it is apparent LuxstarGroup is a scam. Stay away from any unlicensed and unregulated platforms for obvious reasons. Any deposits made to this platform are not safeguarded by regulatory guidelines. And as such, it makes this platform a high risk venture.

Luxstar Group does not post any document which proves they are dully licensed. And this is why we urge all investors to stay away from their illicit platform. An unlicensed platform will only put your funds at risk. Recovering funds from such platforms is next to impossible. Ensure you never associate yourself with an anonymous and unlicensed platform. Both are recipes for disasters waiting to happen. Whoever signs up and deposits funds will be another victim of online scam artists.

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Advantages of Luxstar Group

About Luxstar Group

We could not find any advantage of dealing with such a ruthless trading platform. With complaints from traders from all over the world, Luxstar Group is ruthless. Ensure you stay out of this platform and never sign up with any of their affiliate programs. With the platform using fake credentials, authorities will soon investigate. And this means the platform will soon shut down. The best way to avoid such platforms is to use industry recommended and top rated products.

Disadvantages of Luxstar Group

Account types

Although Luxstar Group is claiming to offer AI managed accounts, they fail to mention the types. And this is a typical scammer’s mistake as you would expect them to inform users on account types. With no account information in question, it means users don’t know the acceptable minimum deposit. The victims we contacted all were told to deposit different sums. One victim deposited $12,000 while another deposited $5,000. These scam artists don’t have a clear minimum required depository amount.

Contact and Support

Looking at their contact page, it is clear the platform does not have or offer live chat support. And this is a huge disadvantage as with today’s technology, trading happens 24 hours. What happens when a trader wants to ask an important question? They offer email and a listed phone number. The problem with emails is they might take forever to get a clear response. Phone number listed is a virtual phone number and doesn’t go through. As we said earlier, these scam artists don’t want to be contacted.

Trading Platform

No one knows the preferred trading platform used by this website. Do they use MT4, MT5, Sirix, or custom made platform? Whatever the case, we are alarmed by the fact that they don’t have proper security features. A trading platform should offer DDoS and SSL encryption. Without these vital security components, the platform can easily be hacked. Hackers will steal vital information such as credit card numbers and personal identity information. You better stay away.

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Safety of funds with Luxstar Group

When it comes to how safe your deposits are with this platform, minimal is an understatement. With no clear indication of who is in charge of the platform, this could be an offshore scam platform. They will fill in their pockets and shut down the platform as fast as they popped up. Members are depositing funds straight to the owner’s bank account. Never expect to recover such funds as the owner will claim the deposit is for services rendered. You will have no way of coming out of it.

Scam or legit

Luxstar Group Contacts

Evidence clearly shows Luxstar Group is a scam. Stay away from this platform and never sign up with any of their affiliate programs. Depositing funds with this platform gives hackers access to your credit card information. With your account details, they can easily sweep your bank account clean. Mark all their emails as spam and never click on any links sent by their email marketing team.

Bottom line

We will be adding this platform to our scam blacklist and ensure no one else falls for this trap. Stay away from these illicit AI managed account platforms.

Go for brokers who come highly recommended by trading experts. Stay safe and use brokers with a solid online reputation. What are you waiting for?

Wishing you the very best in your online investment ventures.

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