Detailed review of Luxury Capitals conditions: broker offers, reviews.
Looking for a Reliable Broker: Luxury Capitals Review
It is a challenging task to find a reliable broker in the financial markets who honestly fulfills their obligations, especially for beginners. Often there is uncertainty about what to base your choice of intermediary on. In this review, we will take a closer look at Luxury Capitals.
The company positions itself as an experienced broker providing services since 2009, but it does not have any reviews. The lack of reviews raises suspicions because traders usually share their experiences, whether positive or negative.
Structure of the Luxury Capitals Parent Company
The luxurycapitals.com website states that the broker is managed by the company NEWWAY 1 Pltd from Bulgaria. According to the data, over 500,000 people have registered on their platform in 11 years of operation. This information cannot be directly verified, but the actual age of the platform can be clarified.
WHOIS data indicates that the luxurycapitals.com website was launched only in November 2020. This indicates that the company is hiding its real experience and operates with false statistics.
The company also indicates that it is engaged in legal activities and provides a registration number – 206297862. A link to the portal for applying for electronic administrative services leads to the Bulgarian equivalent of the Unified State Register of Legal Entities, where information about the legal entity can be checked. The company NEWWAY 1 Pltd does exist and specializes in consulting services.
Information about the founder of Luxury Capitals, the CEO – Stanislav Emilov Ispiridonov is not available. His profile cannot be found on social networks or any other information on the internet. There is a possibility that he is a fictional character.
What is also striking is that the authorized capital of the NEWWAY 1 Pltd company amounts to only 20 levs, equivalent to 947 rubles. How can one trust the finances of such a financially modest company?
It is important to remember that a registration certificate is not a license for financial activity. Financial activities in Bulgaria are regulated by the FSC (Bulgarian Financial Supervision Commission), and the company NEWWAY 1 Pltd is not listed among licensed companies. It operates without the necessary permissions.
Considering the Russian version of the Luxury Capitals website, it is worth noting that the company targets traders from Russia. By not complying with the legislative requirements for registration and licensing with local authorities, the company operates illegally. Luxury Capitals is not listed among the official brokers working in Russia. In case of issues with the company, Russian authorities will not assist in fund recovery.
Luxury Capitals’ contact information is extremely limited. Additionally, the phone number provided on their website belongs to a pornographic resource.
What Does Luxury Capitals Advocate?
Upon registration with Luxury Capitals, you are encouraged to confirm your agreement with the terms of use, although the actual terms page is unavailable. This raises questions about the transparency of Luxury Capitals’ operations.
There is no information about a demo account for risk-free practice. Instead, you are immediately prompted to choose from 4 account types with a minimum deposit ranging from $250 to $100,000 for the most expensive account.
Several points raise the most doubts:
- Unrealistic leverage up to 1:500, indicating possible fraud and the broker’s desire to push traders into debt;
- Forcing a personal account manager, which undoubtedly raises questions regarding the company’s reputation;
- A promise of protection against negative balance, which seems like a lure for clients;
- Utilization of a proprietary terminal, which appears manipulative and aimed at draining deposits.
Reviews about Luxury Capitals
As Luxury Capitals has been operational only for a few months, there are no reviews about it on Russian and English forums yet. The project is actively promoted, and its creators deceitfully deceive people. If you have experience with this company, we recommend leaving a review to share the truth about your experiences.
Analysis of the Deception Scheme in Luxury Capitals
Despite the absence of reviews about Luxury Capitals, it is possible to infer the deception scheme utilized by this company. Its employees lure in novices by offering assistance from a personal account manager.
Through manipulation of the trading terminal, scammers create an illusion of successful trading and attract users to new investments. When a client wishes to withdraw funds, their deposit is quickly “put to sleep” by attributing it to losing trades.
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Conclusions on Luxury Capitals
Luxury Capitals is a Bulgarian fraudulent project. The company has only recently entered the market, and its bad reputation has not yet widely spread. Considering the lack of legal grounds for its operations, dishonest trading conditions, false claims about its age, and the use of questionable software, we do not recommend engaging with this company.