LuioProfits Review: 6 Reasons to Avoid

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LuioProfits Review: 6 Reasons to Avoid

Our LuioProfits Review will help expose the rot happening on this crypto trading platform. Those behind take members for a ride. But unfortunately, we see a broker ready and willing to rip off investors and traders without hesitation.

From the comments and experiences, it’s clear our review will be raising the red flag. Those who have invested with the platform have pushed for refunds for months. Here’s our complete LUIOPROFITS REVIEW.

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About LuioProfits (Why is a scam)

Luio Profits claims to be a binary platform in the guarantee section on the disclaimer. How the platform switched to a crypto-only trading platform remains a mystery. There’s little information available about the broker.

And this leads to several questions regarding the broker’s accountability and transparency. However, one thing stands out regarding, no one gets to win or withdraw funds. And that’s where we draw the line.

LuioProfits Pros and Cons

Accessible trading platform

Trading with the platform is a mess and will likely start your problems. The broker introduces a worthless trading terminal. Instead of getting world-class trading platforms, users get an unstable platform.

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Experts recommend going for a reliable trading platform such as MT4 and MT5. These are the best trading platforms for all classes of traders. In addition, you can trade with a platform ready and willing to offer educational materials.

Traders also get a completely satisfactory platform in terms of advanced tools. MT4 and MT5 are the best in terms of reliability. Unfortunately, what the broker offers is a sorry excuse for a trading platform.

Accounts LuioProfits

The broker mentions no account types, and members use one account for all trading. The liquidity provider boasts over 817 online traders at any time. We also see the broker claiming to have over 156,000 total registered traders.

From what we can see, the account caters to all types of trading. Mind you, and the accounts don’t include the acceptable minimum deposit. You also don’t have the necessary features needed when trading assets.

With the account, members only have a buy/sell option that doesn’t go well with trading. Coupled with the unstable trading terminals, members are at a loss. So you must stay away from the platform or risk losing it all.

Account features

One thing that stands out with this liquidity provider is the lack of proper information. Traders don’t have the right information going in. No one knows the set leverage and spreads available with the trading assets.

For those new to trading, the maximum allowed leverage for assets is 1:100. Any broker offering higher leverage puts your trading position at risk. That’s why we have to escape from the platform’s claws.

Whoever signed up with the platform should know the spreads. The broker offers fixed and variable spreads depending on the amount deposited. Sadly, these spreads are a disadvantage for newbies.

Assets and trading instruments

There are three classes of trading instruments available on the platform. These include binary options, cryptocurrencies, and forex. There’s not much going on in terms of binary options. You also have to avoid engaging with the forex assets.

It seems cryptocurrencies are the major trading assets on the platform. The liquidity provider offers leading crypto assets such as Bitcoin and Ethereum. You get these two paired against each other and leading forex.

Broker rating LuioProfits

Due to the persistent withdrawal issue, we have to raise the red flag regarding the Luio Profits rating. We rate the broker a 1/10, with other independent reviewers following the same trend. It’s one of the trading platforms to avoid.

Bonuses and high-profit margins

The broker claims to offer high bonus amounts to successful traders. To qualify for the bonuses, you must deposit a large amount exceeding $5,000. In addition, the broker claims to offer a 100 percent welcome bonus on such deposits.

It’s a clear way of enticing traders to deposit more with the platform. Woe unto you who decided to deposit a large chunk, hoping to earn a high deposit. Even the expected and promised profit margins are not anywhere in sight.

Customer service

Don’t expect the broker to offer any support regarding customer support. What you have is a broker not willing to provide much communication. The broker limits communication to a bare minimum.

You will notice the live chat widget is a message board where members are to leave a message. The broker claims to respond within 24 hours, but that’s not the case. The other avenue involves sending an email.

LuioProfits Is a scam

Deposit and Withdrawal LuioProfits

None of the current crop of traders has had the chance to withdraw funds from the platform. There are several complaints lodged against the broker for this very reason. It would be best if you stepped away from the platform immediately.

These are the REASONS that make the broker a scam. Despite having bank and wire withdrawal capabilities, no member gets to withdraw funds from the platform. And that’s why we have to expose the broker.

Negative balance protection

The broker also fails to offer a fundamental right to all traders, negative balance protection. Instead, you get a broker who will ensure traders lose more than the balance in their accounts. And that’s against trading laws.

Fund safety LuioProfits

Are funds safe with the broker? No, your funds are far from safe with a broker who fails to segregate accounts. The broker also fails to offer insurance cover for deposits made by the members.

We noticed the broker failed to offer much in terms of quality. The broker is what we see as a selfish broker who puts your trading position at risk. There’s no DDoS protection of SSL encryption.

Expert’s opinion of the broker Luio Profits

Most experts believe the liquidity provider is another exit scam. It would be best if you stayed away from the broker, risking losing everything. Several factors make trading with the platform a dangerous affair.

License and Regulation LuioProfits

The broker fails to get any license from a recognized regulation institution. There are no uploaded documents to support any compliance with trading regulations. And that’s why we insist the platform is a pure risk.

Before anything else, kindly check to confirm whether a broker is compliant. It’s the only way to guarantee safety. Check with regulators such as ASIC, CONSOB, CySEC, and the FCA. These are regulators who guarantee security for members.

Available trading conditions

As indicated earlier, the broker fails in their attempt to offer any fair trading conditions. Most trading features are risky, including high leverage and mixed spread variables. There’s also the issue of the safety of funds.

How the LuioProfits scam works

After a menacing run, we can see the broker is not in any way close to achieving success. Instead, the broker entices members to sign up with a promise of doubling the funds within a short time. Woe unto traders who fall for such lame antics.

Our verdict

Please stay away from this broker.

NB: Go for expert-backed investment strategies involving cryptocurrencies.

Feel free to drop a comment or email us with any queries.

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