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 $1,000,000 and an aggressive scaling program up to $10,000,000. 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 an offices in London, Dubai, Montenegro, and St Lucia.
They offer up to $10,000,000 of capital on either MT4, or Tradingview (The Lux Trader), no recurring monthly fees, no time limit on your profit targets and a 75% 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 $10,000,000 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 5 different starting amounts of funding, ranging from $25,000 to $1,000,000. These range in price from £149 to £1,499 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 6% 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 or TradingView and you only have between 4 to 8 steps on the scaling plan to reach the $10,000,000 in funding that all traders dream of!
Interview With Lux Trading Firm
What Makes Lux Trading Firm Different From Other Prop Firms?
Unlike many prop firms, Lux pride themselves on exclusively trading with REAL money in all live stages. With Lux you don’t have to worry about being part of a Ponzi scheme or being under a time pressure.
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 making sure they’re working with a well-regulated A-book broker and act responsibly.
Lux works 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!
Update: I have now received a further split from Lux, which is brilliant to see. This second withdrawal was even faster than the first – I created an invoice using a very simple invoice template, then sent it to the team. Within 2 hours, I had received my payout with 0 fees and a thank you email.
In this industry, having that level of customer support and speed of withdrawal is very hard to find and it’s great to see.
Not only that, whenever I have had any kind of issue, I’ve been able to speak directly with the founder to get things resolved immediately – something you don’t see elsewhere in the industry.
As of September 2023, I’ve had over 16 payouts from Lux Trading Firm – with not a single issue!
Trading Platforms Offered
Lux Trading Firm offers a 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 (The Lux Trader), 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.
If you’re a novice trader signing up to Lux Trading with the hopes of getting funded, I would highly recommend going for the TradingView integration as this option is 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 6%. 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 6% drawdown limit.
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.
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.
Their Elite Program is your top choice if you want to succeed in the trading industry. Lux brings the same support you’d only receive trading for a big bank or a hedge fund to everybody, from beginners to seasoned pros. Education, mentorship, daily market analysis, livestreams, workshops, a risk desk, professional analytics software, and much more…
The Elite Package is for everybody. Whether you are a student interested in trading, someone looking to change their career path, a seasoned professional trader, or a complete trading beginners, the elite package is for You! Lux works with traders of all skill levels, backgrounds, and from countries all over the world. Lux members can get a 7 day free trial!
What will you get in the Package?
Daily Live Trading Room
The Package gives you access to the only Live Trading Room with daily market analysis, integrated into the trader’s dashboard. Lux’s in-house mentors analyse the markets with traders and help them know exactly what to expect each trading session.
The Package gives you access to Lux’s library of on-demand videos in the categories General, How to Trade, and Mindset.
Risk Management Desk
Lux provide their Elite traders with the services of our Risk Management Desk. Why do you need a risk desk? The risk managers will periodically go over your trading style, and advise you on the use of stop loss, use of leverage, use of lot size and realistic profit expectations to help you become an effective, and responsible trader
A part of the Elite Package are exclusive workshops with mentors, live-streamed in a trading room.
Twice each month you’ll be able to join an online workshop led by Lux’s expert mentors, focusing on different subjects each time.
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.
Global Prime Reviews
Global Prime is a fairly small brokerage, by the looks of things, but has a great reputation so far and provides amazing trading conditions for traders! This is great to see as all Lux Traders will be essentially using Global Primes trading conditions, so it’s good that they’re clearly high quality!
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 nearly 500 reviews at present, an average rating of 4.4/5 on Trustpilot and with over 82% 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 16 months since I first published this full review, the companies has gone from around 80 reviews, to around 500 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.
Again, in the last 6-8 months since my last update on this article, Lux have gained another 130+ extremely positive reviews! Realistic but steady growth.
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 400 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.