Red Flags
3
Luxtious
Luxtious, an online trading platform, exhibits numerous red flags, including high deposits, opaque practices, and withdrawal issues, raising concerns of a potential scam.
Quick summary on Luxtious
Luxtious, operating under INTERMARKETS Corp. Ltd. and claiming accreditation from the Financial Market Regulatory Agency of Mwali, promotes itself as a sophisticated trading platform. However, its registration in the Union of Comoros, an offshore haven with lenient regulations, casts doubt on its legitimacy. The Mwali license offers minimal protection compared to robust regulatory bodies like the UK’s FCA or the U.S. SEC, allowing Luxtious to evade critical scrutiny.
Exorbitant Costs and Opaque Operations
Luxtious demands a steep minimum deposit of $2,500, much higher than industry norms. Despite offering six account types with escalating deposits up to $250,000, the platform lacks transparency regarding spreads, commissions, and trading fees. Many users report delayed trade executions and vague terms, contributing to financial losses.
User Complaints and Deceptive Practices
Numerous negative reviews reveal issues such as unresponsive customer support, blocked withdrawals, and manipulative trading practices. Victims from France and Germany reported losses of €4,500 and €10,000, respectively, highlighting the platform’s deceitful tactics.
Security and Privacy Concerns
Cybersecurity experts have flagged Luxtious for potential malware and outdated encryption, putting users’ funds and personal data at risk. Reports of unauthorized transactions add to suspicions of internal breaches.
Legal and Regulatory Risks
Luxtious operates outside robust regulatory frameworks, leaving users with limited legal recourse. Complaints to international agencies have been largely ineffective, amplifying the risks of financial loss.
Avoid Luxtious to Protect Your Investments
With high deposits, non-transparent practices, and a history of user complaints, Luxtious poses a significant risk to investors. Traders should prioritize well-regulated platforms with clear policies and robust support to avoid falling victim to financial scams.
Intel Reports
by: Belle Hinson
Stay away from Luxtious unless you want to be part of their scam. They lure you in with big promises and then trap you with shady practices.
by: Malakai Thatcher
I can’t believe people are still falling for this. If they can't even be transparent about their fees, how can you trust them with your money?
by: Ember Franco
If you're trading with Luxtious, I hope you don’t mind the risk. This offshore license seems like a way to dodge proper regulation.
by: Elian Wakefield
$2,500 minimum deposit?! Who are they trying to fool, charging that much for an account with no clear terms?
by: Tru Faulkner
Someone from Luxtious convinced me to open 2 accounts. A first of 400 euros then another of 3000 euros. When they thought that I was not going to invest more, they blocked my account of 3000 euros. I can no...
by: Aurelia Calhoun
I was deceived by a fraudulent investment platform that promised guaranteed returns. After investing my entire life savings, I was left with nothing.
by: Isaac Brown
Blocked withdrawals, shady fees, and unresponsive support—classic scam behavior.
by: Savannah Brooks
A $2,500 minimum deposit for a platform with terrible reviews? Huge red flag.
by: Nicholas Hayes
An offshore license in Comoros? That’s as good as no regulation at all.
by: Zane Po
This is just disgusting! How do they sleep at night knowing they ruined lives for their own luxury?
by: Alicia Harper
Manipulating search engines to hide their fraud? That's next-level shady behavior. They really thought they could get away forever.
by: Brian Owens
Their lifestyle is funded by stolen money? No surprise there. Flashy cars, big houses, but no integrity at all.
Cons