Lucrum Review | What Do you need to know about this broker?
Broker Type: STP
Min. Deposit: US$250
- Platforms: Proprietary WebTrader
Found in: 2020
Lucrum Social Channels
Lucrum Review Company Profile
Lucrum. was set up to provide Forex trading solutions to individuals wishing to expand their investment portfolios – from veteran traders to beginners.
they aim to offer the best trading environment on the market – state-of-the-art trading services in commodities, currencies and indices, competitive trading conditions and excellent customer support.
Lucrum fees and commissions
Compared to other brokers, our review team found that Lucrum offers competitive trading and non-trading fees. The broker does not charge commissions, and you can benefit from tight spreads with a higher-tier account. Lucrum also charges no inactivity fees, putting it ahead of the competition, and, whilst some payment methods may incur charges, there are also multiple ways of making deposits and withdrawals for free.
Opening an account with Lucrum Live
You will find it incredibly simple to create an account with Lucrum, as the process can be done entirely online. It should only take you a matter of minutes to open an account and submit your verification documents. Additionally, the minimum balance for opening an account is low, at just $250. This makes Lucrum incredibly accessible, especially if you are a beginner who doesn’t want to take huge risks and just start slowly.
What will you need to open an account ?
- Personal information – First and last name, phone number, address, country, and taxpayer ID number or something similar.
- Regulatory information – The regulatory information required by Lucrum consists of the above personal information and the following documentation. Additionally, Lucrum does require you to physically sign an application.
- Documentation – Proof of identity (a government-issued document that includes your photo, such as a passport) and proof of address (this must show your full name and postal address and be from within the past six months). If your documents are not in English, you will need to translate them and have them signed and stamped by the translator.
To open an account with Lucrum , you’ll need to provide proof of identity and proof of address. This process allows Lucrum to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices, such as money laundering.
What is the minimum deposit at Lucrum ?
The minimum deposit at Lucrum is just $250 for the Mini account, although the broker suggests you deposit at least $2500 for this account type. Minimum deposits for Mini, Standard, Gold and VIP accounts are $250, $2,500,20,000 and $50,000, respectively.
Lucrum account types
Lucrum boasts a range of four different account types, which means you should find one to suit you. These accounts come with similar features, although the higher tier you select, the tighter the spreads and the more assets you can trade. You must select an account type when you first register with the broker, however, our Lucrum reviewers found that you can change it easily later on.
Lucrum offers a demo account, which is incredibly easy to set up. It offers you a chance to familiarize yourself with the Trading platform, market movements, or trading forex in general. We strongly suggest that you use the demo account before trading real money, especially if you are a beginner.
Islamic accounts are available for Muslim clients in Mini, Standard, gold or VIP accounts. These accounts are swap-free, although Lucrum does apply a commission or settled financing charge. This is based solely on the lots traded and the asset traded, without any influence from the interest rate, so it remains Sharia-compliant.
Lucrum trading platforms
Our review of Lucrum notes that the broker only offers one trading platform, which is far less choice than at similar brokers. As this sole platform is their proprietary trading platform, however, you are guaranteed a range of features and you can use it with Windows, Mac, iOS, Android, Windows Mobile, or PDA. You can also obtain a Multi-Terminal version for Windows.
Lucrum offers one trading platform. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools too.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of Lucrum’s trading platforms. When doing so, they considered a range of factors, including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.
Lucrus Trader is the sole trading platform available from Lucrum, but it is available in multiple versions, which helps Lucrum continue to appeal to a range of traders. Lucrus Trader is perfect in acccordanc to the industry standard and has a user-friendly interface that is perfect for beginners. It is also highly customizable and lets you use line, candlestick, or bar charts.
To conduct analysis, you can enjoy multiple chart setups, use as many indicators as you want on a single chart, and make use of its nine timeframes and over 50 built-in indicators. Lucrus Trader also supports automated trading, in addition to real-time data export with the DDE protocol. The platform can be set up in multiple languages.
The mobile version of the Lucrus Trader is fully functional and was specifically designed to work on devices with smaller screens and internal capacities. You can enjoy full graphical visualization, technical analysis, and even an offline mode. The application is safe and confidential, and it gives you full access to your trading history.
What is the execution policy at Lucrum.Live?
Lucrum follows an STP execution policy, depending on how you set up your account. The broker considers the following best execution factors: price, costs, speed of execution, likelihood of execution, likelihood of settlement, size of order, and market order. The best execution criteria also include the characteristics of the client, client order, financial instruments, and execution venues.
Although Lucrum does not share its execution speed, our testing and various client reviews have confirmed that it is fast, reducing the risk of requotes. VIP account holders receive priority execution.
Lucrum markets and products
When you trade with Lucrum, you will be able to trade forex, precious metals, stocks and shares, and cryptocurrencies. Only the first two of these are available on Cent and Mini accounts while all four asset classes are available on Standard and VIP accounts. With over 400 instruments, Lucrum offers plenty of opportunities for diversification in your trading strategies.
Cryptocurrencies offered by Lucrum
Lucrum is among the growing number of brokers that offer cryptocurrency CFDs for trading. This asset type has a margin requirement of just 20% and, thanks to the volatility of cryptocurrency, there is a great deal of potential for profit.
Lucrum gives you the chance to trade popular cryptocurrencies via CFDs. Of the 4 currencies available, Bitcoin is the most popular, but the ability to trade Litecoin, Ripple, and Ethereum too will be appealing to all crypto enthusiasts.
Lucrum customer support
Both existing clients and our Lucrum broker review team agree that the broker offers high-quality customer support options that you can count on. Support is available 24/5 via email, live chat, phone, and various social media pages.
Lucrum review Conclusion
Lucrum is a new brokerage that shows already maturity from the start , their trading conditions are solid and their overall feel and executions breaths experience and professionalism.
i would have liked to see one of the meta-traders added to the brand as i believe this is something that simple has become the standard of the market, that said the trading platform that they do offer sis good enough for anyone to trade and shows everything you need to open and close positions in proper manner. they offer all order types, including limit orders. and has some additional advantages like Multiple order execution types, Chart-based position-keeping, customizable indicators and more.
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Lucrum Pro Forex Broker
Lucrum pro is a new brokerage that shows already maturity from the start , their trading conditions are solid and their overall feel and executions breaths experience and professionalism.They offer all order types, including limit orders. and has some additional advantages like Multiple order execution types, Chart-based position-keeping, customizable indicators and more.
- allows all strategies
- low spread fees
- Online trading platform
- Cryptocurrencies for trading
- Multiple order execution types
- STP Execution
- not regulated
- No metatrader 4 and 5
- not a lot of educational materials
assets available for trading