One of the best and quickest ways to start trading larger capital in the forex markets is to get funding from a prop firm. All prop firms are tailored to specific traders and have their own perks, pros and cons, which makes it ever harder to find the best firm for you.
In this article we are looking at Lux Trading Firm, a very highly rated prop firm offering initial funding of up to $150,000 and an aggressive scaling program up to $2,500,000. Is this the best funding option for you? Let’s find out now…
Who Are Lux Trading Firm?
Lux Trading Firm are a prop firm offering a huge amount of capital for forex traders that are able to pass the trading challenge! They have a U.K office in London, an office in Slovakia and another office in Switzerland.
They offer up to $150,000 of capital on either MT4, Tradingview or Trader Evolution, no recurring monthly fees, no time limit on your profit targets and a 65% profit split and it’s no wonder why this company is so highly rated by swing traders around the world.
The scaling plan up to $2,500,000 is one of the best I have ever seen and it’s almost a no brainer to be trading with Lux Trading Firm, right? Let’s find out more and decide if it’s the best option for you…
Getting Funding From The Lux Trading Firm
Lux Trading Firm offer 3 different starting amounts of funding, ranging from $50,000 to $150,000. These range in price from £199 to £399 which is extremely competitive compared to some of the other firms in our Top Prop Firms List.
When you purchase one of the funded accounts you will be given a much smaller demo account initially, where you will have to complete a challenge with trading objectives of a 6% gain, with 4% maximum drawdown and you have as long as needed to complete this. You’ll then move onto a smaller live account, then the full size live account once the challenge is passed.
Once you are funded, the trading will be all taking place on MetaTrader 4 and you only have 5 steps on the scaling plan to reach the $1,000,000 in funding that all traders dream of!
What Makes Lux Trading Firm Different From Other Prop Firms?
Lux Trading Firm is different to some of the other industry leading prop firms shown in our Top Prop Firms list. They offer a Risk Management Desk, which is extremely helpful to forex traders and frankly I think that all prop firms can learn from this.
Once you are funded, you will have access to Chelton Wealth Management to help you understand how to position yourself to actually stay in line with the maximum of 4% drawdown that Lux Trading Firm imposes. You will also have your accounts audited by KPMG, one of the worlds largest auditing firms, to provide you with a verified track record you can use to obtain further funding.
The other main differentiating factor is the fact that when obtaining funding from Lux, there is no time limit on how long it takes you to reach the profit target. This, coupled with the fact you are allowed to hold trades over the weekend, makes it a perfect option for swing traders to get funding from as most options such as FTMO or The Prop Trading have strict time limits.
Lux Trading is actually a regulated asset management firm with many awards to its name. The majority of Industry Leading Prop Firms aren’t actually regulated at all, which they currently aren’t required to be, but it’s nice to see a prop firm that has gone through the process of being regulated. Lux only work with a regulated forex broker, Global Prime, which has a great reputation in the retail industry as being reputable and honest.
Payment Proof From Lux Trading Firm – Withdrawal
It’s important to work with a prop firm that actually pays out traders on time and is completely fair. Lux Trading Firm have been nothing but great when it comes to withdrawals. I was actually contacted by the team there to take a withdrawal, as I was letting my funds just sit there – this shows the honest intentions of the company.
The company can process transactions through a Wise wallet and this appears to be the best way to get your money. I actually struggled to get one of these wallets so the team actually sent my money directly from one of their business bank accounts in another country. Even though the transaction was international I paid no fees and it arrived in just a few days – you really can’t complain about that!
Trading Platforms Offered
Lux Trading Firm offers a few top of the range trading platforms for traders to use for their challenges. This is a relatively new feature and comes at the end of a huge amount of work from the IT Teams both internally and with the liquidity provider.
The platforms currently being offered are Tradingview, Trader Evolution and MetaTrader 4. Tradingview has been my personal choice of platform for many years now and I can certainly vouch for how user friendly and tool is. It’s the most popular and most powerful charting tool for traders so for Lux Trading Firm to offer this as an integration is a huge step.
MetaTrader 4 is fairly old and not user friendly. However, it’s industry standard for retail traders and the large majority of traders love the platform (for whatever reason). I’m not a big fan myself but I would rather see this offered by the prop firm, incase I wanted to run one of my EA’s on the software.
Trader Evolution is frankly one of the most advanced trading tools I have ever seen. The back end of the platform is the most advanced tool in the market and the front end has such great features for both advanced and beginner traders looking to capitalise on moves within the markets.
If you’re a novice trader signing up to Lux Trading with the hopes of getting funded, I would highly recommend going for either the TradingView integration or MetaTrader 4 as these options are both extremely simple and user friendly.
Is Getting Funding From Lux Trading Firm Realistic?
When assessing prop firms and taking on additional capital as a forex trader it’s very important to look at how realistic the funding option actually is to obtain. Some firms offer a really great funding package but the rules and trading conditions are so tough that no one really ever achieves them.
Lux Trading Firm has a whole list of their Rules of Engagement detailed on their website.
In stage one, you have a profit target of 6% and a maximum drawdown limit of 4%. You are able to hold trades over the weekend, trade any style you want, trade a range of forex pairs and commodities and there is absolutely no time limit on how long you have to achieve this!
Once you are funded with your professional live trading capital, you will have a 10% profit target with a 4% drawdown limit. There are no time constraints on this, which is great, but a 4% drawdown limit really isn’t a lot and could be tough for many traders. To keep safe during this process you would need to be working with a very small percentage risk per trade to reduce the chance of running over the max drawdown.
If we weigh up the likelihood of getting funding, the drawdown limit is very small compared to other firms like 5%ers, but you have unlimited time duration to actually reach your profit target, which makes things much easier!
Lux Trading Firm – Real Market Orders
The forex prop firm industry has grown massively over the last few months, with FTMO alone having 40,000% growth in the last 12 months! With this huge growth, there are more prop firms just offering the exact same funded accounts and trading rules, just with a different logo on the front. This isn’t necessarily a problem, but it’s good to have a shop around and find a firm that has something slightly different to offer. This is where Lux Trading Firm comes in…
I have been speaking with Mike, over at the company and he has highlighted a key area where Lux Trading Firm is different to competitors. When you have a funded account, your orders will be sent directly to the market. In short, you aren’t trading a demo account, you’re trading real, live money in the markets like an established fund trader would do.
You may not be aware but many of the other industry leaders like FTMO actually use demo accounts, to limit their exposure to unprofitable traders taking losses in the market. Companies are usually fairly open about this, but there are trading firms that try to keep this as secret as possible, almost to deceive traders into thinking they’re trading live accounts.
In terms of the actual impact this has on you, the trader, there isn’t any. It doesn’t really matter to us whether our funded accounts are with real capital or demo capital, as long as our profits come at the end of the month! However, Lux Trading Firm are currently the only forex prop firm offering the live trading environment.
Do Lux Trading Firm Offer Education To Traders?
They offer a range of different education and support to traders, which most firms these days aren’t doing. Lux has a new platform called Trading Central, which is an award winning platform for analysis and research.
As well as the research platform, they have partnered up with ForexSignals.com to provide forex education and mentorship to people looking to take on the additional trading capital being offered. Lux members can get a 7 day free trial with the service, then a discounted membership rate. ForexSignals is actually one of our highest rated forex education providers this year, check out our full comprehensive review of the service!
Lux Trading Firms Broker – Global Prime
Lux use a trading broker called Global Prime. Using an external, third party broker like this means that the prop firm can be completely transparent in regard to showing profits, live accounts, withdrawals and cannot B-book traders positions. This is great to see as a lot of firms these days will just have you sat on a demo account and just pay out the winning traders, against the losses of losing traders.
Global Prime is also one of the worlds highest rated forex brokers. On FPA, we can see that they have nearly 400 reviews at the time of writing with a 4.7 star out of 5, which is great as it shows that you will be trading with a reputable, reliable and trusted forex broker.
Lux Trading Firm Reviews – What Are Traders Saying?
The trustworthiness of a prop firm can be easily gauged by looking at a large number of reviews from traders using the service all around the world. This due diligence has proved extremely useful over the years and I would certainly not recommend obtaining funding from any company that isn’t rated as Excellent on Trustpilot.
With over 200 reviews at present, an average rating of 4.8/5 on Trustpilot and with over 87% of the reviews being overwhelmingly positive, we can clearly see that Lux Trading Firm is a very trustworthy and legitimate company. This is a much better trust score than the overwhelming majority of our Top Prop Firms List.
Traders are very impressed with the funding being offered, praise the support team and seem to be really liking the fact that there is no maximum trading day allowance like with FTMO for instance, which has a maximum of 20 trading days.
In the last 4 months since I first published this full review, the companies has gone from around 80 reviews, to over 200 and it’s growing rapidly. This is really good to see as it highlights the fact that the company is growing and traders are still loving the funded accounts being offered.
Conclusion – Is Lux Trading Firm A Scam?
In conclusion, Lux Trading Firm is one of the highest rated funding options for forex traders and it’s easy to see why. They offer easy to pass challenges, combined with a great profit split, expert support for traders and no time limit on profit targets.
With the scaling plan it’s easy to see how they are such a well loved and high rated company, clocking in with over 200 Excellent reviews.
I would definitely recommend this company to swing traders looking for funding as the lack of time duration and weekend holding makes it a perfect storm for all longer term traders!
If you have any experience with this company please let me know in the comments down below, I’d love to hear your feedback.