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FX Lucid Review: Fxlucid.com Dubious Forex Scam

FX Lucid Review: Fxlucid.com Dubious Forex Scam

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FX Lucid (Fxlucid.com) is another rotten CFDs and Forex scam platform to hit the lucrative trading world. FXLucid is claiming to have an excellent trading platform as well as a guaranteed 92% profit returns. With such a high guarantee, most investors have signed up without having a second thought. Such high claims have led to most investors losing their deposits. Read this detailed and honest FX LUCID Review for more.

FX Lucid Review

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FX Lucid Review

After receiving an email from one of the members, we simply had to investigate this platform. Andreas deposited $16,000 hoping to make the guaranteed 92% profit. After he deposited the amount, he was called by a broker and they insisted he deposit more. What the broker claimed is they would help increase the profit margin by nearly 100%. Andreas was not convinced and after a while, he decided to withdraw his funds. With his funds still reflecting on his account, it has been now six months without seeing a penny.

Scam artists are cloning website in the hopes of luring unsuspecting investors into signing up. With such a fuss, these scam artists will target investors mainly from the European region. Such high profit margins, it is likely that more victims will fall for their rhetoric. The trading industry does not need such platforms which will scare and steal from investors. Read this dossier and get to know the tricks used by scam artists.

About FX Lucid

Smartex Investment Ltd is the company which is listed as the owner of this platform. Disclaimer at the footer of the homepage shows the company to be registered in St. Vincent and the Grenadines. This is a hub for would be scam brokers who hide thanks to lack of strict regulations. Anonymity is also a disturbing feature with this platform as we don’t know who is in charge. Is it possible users are depositing funds to a personal or private bank account? Highly possible scam artists are laughing all the way to the bank.

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Who is in charge of the platform or CEO of the above company? Company register does not have any name with the above named company. Clearly FX Lucid is operating under the impression they are an internationally recognized company. No one knows the founding members of this website. If we had names of these brokers, making contact would have been easy.

Is FX Lucid licensed or registered?

How can a platform whose registration detail is sketchy be licensed by proper authorities. We reached out to international regulation bodies to check with their license status. FX Lucid is not licensed or regulated by ASIC, CONSOB, CySEC, FCA, NFA, or SEC. With this concrete proof, it is clear FX Lucid is operating under false pretense.

If indeed this platform was properly licensed and registered, where are their documents to prove so? A true and legit platform will post copies of their license credentials for all to see. Without a valid trading license, anything these scam artists sell is illegal. Investors are walking straight to a trap once they sign up and deposit with FXLUCID. To remain safe, you need to check with regulatory bodies whether a broker is complaint. Scam artists will post random numbers to fool newbie investors and traders.

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Advantages of FX Lucid

We could not come up with any advantage of dealing with a rogue platform. Offshore brokers are notorious for flaunting set industry rules making them untrustworthy. With other members coming out with scathing comments, stay away from this platform. FX Lucid is another online trading platform scam which is targeting newbie investors. What you need is to ignore all their promotional materials including video tutorials. Promotional materials are fake and hold no meaning.

Disadvantages of FX Lucid

Account offered

FX Lucid Account Types

FX Lucid is furnishing users with a single account type called VIP. What we do know is no information has been given regarding the features of their account. No one knows the minimum acceptable deposit or the features of this platform. Andreas deposited $16,000 while another investors had deposited $4,500. What is the actual minimum deposit with this platform? With a 92% guarantee profit, investors might deposit any amount they have. Don’t you see this is a trick to capture any and all investors?

Custom made platform?

Another huge problem with FX Lucid is their custom made platform which has not been tested. No one knows the stability of their platform or how well it executes trade. What we do know is their platform lacks proper security features such as DDoS Protection. Hackers can easily take over the platform and steal credit card information.

Fake claims

Claims which are unfounded are plastered all over their website to fool unsuspecting investors. FX Lucid is claiming to have over 18, 289 traders on the platform. Another disturbing claim is they have paid out over $9M to members of this platform. If this claim was true, no negative comments would be floating throughout the web. Such claims are what drive unsuspecting investors to sign up not knowing it is a trap. Best you stay away from such platforms with over the moon claims.

No Demo Account

Another shocking feature lacking with FXLucid is a demo account. A demo account gives users a chance to test how well a platform works. Without a demo account, users will have to trust the real account. A huge problem with this move is they will be trading blindly not knowing what to expect. Demo accounts give users a feel of the platform and also how well it executes trades. No demo account means traders will have to trade without knowing the conditions. Stay away from this illicit platform.

Are funds safe with FX Lucid?

How can funds be safe with a platform whose credibility is in question? Segregation of accounts is another huge problem which we must expose. FX Lucid is merging assets in one account which is not recommended. It is why you must stay away since investors are depositing straight to owner’s bank account. You need to start becoming more aware of the scams trolling around the web.

Is FX Lucid a scam?

FX Lucid Deposit and Withdrawal Options

Without a shadow of doubt, FX Lucid is a scam. Avoid this platform with everything you have.

Verdict

We will be adding this broker to our scam blacklist to safeguard our readers. By exposing these scam artists, we will be making the trading arena safe.

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Wishing all investors a happy and prosperous trading experience.

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