Advertising Disclosure
Updated:
Leverage: 1:100
Regulation: UK, Dubai, Montenegro
Min. Deposit: £149
HQ: London, UK
Platforms: MT5, Lux Trading
Found in: 2020
Lux Trading Firm Licenses:
Lux Trading Firm, also operating under the name LUX Trading, is a prominent proprietary trading firm located in Manchester, UK. Renowned for its services to retail traders across the globe, the firm has carved out a significant niche, particularly in the forex trading community. It has earned an impressive track record and is well-regarded for its excellence in this field.
A notable aspect of their operation is the profit-sharing model. Traders are expected to share a portion of their profits with the firm, with the specific terms varying based on several factors, including experience and performance. Alongside the financial aspects, Lux Trading Firm places a strong emphasis on training and support. They offer educational resources, mentorship, and access to trading strategies and risk management techniques, which are crucial in the high-stakes world of trading.
The company provides a unique opportunity to amplify traders’ earnings through trading with funded account balances that can exceed $10,000,000. By successfully navigating their comprehensive evaluation process, traders become eligible for funding. This arrangement sets specific profit targets that traders are required to meet in order to boost their account balance. Upon successfully achieving these targets, they are entitled to retain 65% of the profit.
| Lux Trading Firm Advantages | Lux Trading Firm Disadvantages |
|---|---|
| Lower Profit Target | No Strict Overseeing |
| Weekend holding allowed | It is hard to become Funded Trader |
| Free Trial | Limited Instrument Range |
| Profit Share from Challenge | Low Leverage |
| MT5 with EAs | High minimum trading day requirements |
| Refundable Fee once you become Funded Trader | |
| Scaling up to 10 million USD | |
| No time limit on profit target |
A critical aspect of our Lux Trading Firm Review centers on understanding the structure and conditions of their evaluation challenge. This involves examining what specific tests or criteria you need to fulfill to qualify for a Funded Trading Account and become a Proprietary Trader. Additionally, it’s important to consider the costs involved for a trader to participate in this process, which typically includes a Registration Fee. This assessment is key to comprehending the pathway to becoming a trader with Lux Trading Firm.
To begin with Lux Trading Firm, you must first choose the trading platform, account type, and balance size that you wish to qualify for. The conditions of the challenge vary slightly based on the selected account size. This choice also influences the registration fee, which is required to participate in the challenge. Importantly, Lux Trading Firm offers a refund of this fee once you achieve the status of a Funded Trader. For a clearer understanding of how these fees vary, refer to our Registration Fee comparison table provided below.
| Fees | Lux Trading Firm | FTMO | The Funded Trader |
|---|---|---|---|
| Minimum Account Size | $25,000 | $10,000 | $50,000 |
| Fee | £149 | €155 | $289 |
| Maximum Account Size | $200,000 | $200,000 | $400,000 |
| Fee | £599 | €1 080 | $1,869 |
| Reset or Test Retake | Yes | Yes | Yes |
| Is Fee Refundable? | Yes | Yes | Yes |
In the first stage of the program, traders’ objective is to achieve a 6% profit target, with a maximum drawdown limit also set at 6%. This stage offers the flexibility to hold trades over the weekend and allows traders to trade in any style they prefer. They can trade a variety of forex pairs and commodities, and there’s no time restriction on how long you have to reach this target.
Once the progress to being funded with professional live trading capital, the parameters change slightly: traders are then required to meet a 10% profit target while adhering to a 6% drawdown limit.
The maximum loss parameter sets the limit on the total loss a trader can incur before the account is considered violated. Based on our research, for all account sizes, this maximum loss is set at 5%, which adjusts to 4% once the account is funded.
The minimum trading days requirement is the specified period you must trade for before you can successfully complete an evaluation phase or request a withdrawal. For the evaluation stage, there’s a requirement of at least 29 trading days (or 15 calendar days for swing traders). However, in the Advanced stage, there are no limitations on the minimum number of trading days.
See the detailed table with Lux Trading Firm Evaluation conditions based on Account Size:
After successfully passing the evaluation, a trader will have their Funded Account established, which usually takes a few business days to activate. It’s important to note that the conditions and balance of the funded account will match those of the account for which you qualified in your test. If you wish to upgrade to a higher-grade account, you will need to undergo the test process again from the start for the specific Account Balance you desire to trade with.
By successfully completing both the Evaluation and Advanced stages, traders are granted a live funded account, also known as the Professional account. This account comes with the advantage of having no profit target requirements for withdrawals. The only stipulation is adhering to the 4% maximum loss rule.
Traders can expect their first payout 30 calendar days from the date of their first position in the funded account, with a profit split of 75% based on the profits earned in the live funded account. It’s also important to note that all subsequent payouts are processed monthly, maintaining the same 75% profit split based on the profits generated in the funded account.
Lux Trading Firm’s withdrawal methods are designed for flexibility and convenience, catering to the needs of traders. Those using the Professional Accounts are entitled to a 75% share of the profits, provided they have achieved a net profit for the current month, taking into account the High-Water Mark. The profit calculations are conducted during the first weekend following the month’s end, with payouts for these accounts typically processed in the week immediately after this calculation.
When examining Account Conditions, it’s essential to assess the diversity of account options, available Trading Platforms, Instruments, and associated Costs. Checking the Leverage levels and specific Trading conditions is also vital, as some Brokers may limit certain strategies or practices in Funded accounts, leading to potential account loss and the requirement to retake the evaluation test. A detailed overview of these factors is outlined below:
Lux Trading Firm provides an extensive range of trading instruments, including forex pairs, commodities, indices, bonds, and shares. These offerings cater to the preferences of the majority of Forex Traders, making the firm’s selection generally favorable. However, for traders who have a specific interest in other instruments like Stocks or Futures, it may be advisable to explore alternative Proprietary Trading Firms that align more closely with their trading preferences.
Lux Trading Firm stands out with its commission offerings, suggesting competitive conditions. The firm charges a commission of only $4 per lot per round for Forex trades and $0.02 for Shares. These rates are notably lower than the industry average, making the firm’s pricing structure quite favorable for traders.
Lux Trading Firm offers a leverage of up to 1:30 for all trading instruments, applicable in both the Challenge stages and once you become a Funded trader.
Lux Trading Firm provides traders with the choice of two trading platforms. The first option is the Lux Trader trading platform, which benefits from Direct Market Access through a pool of Liquidity Providers. The second option available to traders is MetaTrader 5, which operates with Ox Securities as the broker.
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