Lugano Trade Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-25 16:55

Abstract：Established in 2021 and registered in Switzerland, Lugano Trade is a forex broker, offering various market instruments on cryptos, forex, commodities on the MT4 platform. However, Lugano Trade operates without regulatory oversight from any reputable financial body.

　　Note: Lugano Trade's official website: https://www.luganotrade.com is currently inaccessible normally.

Lugano TradeReview Summary
Founded	2021
Registered Country/Region	Switzerland
Regulation	Unregulated
Market Instruments	Cryptos, forex, commodities
Demo Account	✅
Leverage	1:1000
Spread	/
Trading Platform	MT4
Min Deposit	$2 500
Customer Support	Tel: +44 (0) 131 608-0839
	Email: Support@LuganoTrade.com

　　Established in 2021 and registered in Switzerland, Lugano Trade is a forex broker, offering various market instruments on cryptos, forex, commodities on the MT4 platform. However, Lugano Trade operates without regulatory oversight from any reputable financial body.

Pros and Cons

Pros	Cons
Demo accounts	Unregulated status
Multiple account types	Inaccessible website
MT4 suppported	Limited trading assets
Popular payment options	Extremely high minimum deposit
No deposit fees	Withdrawal fee charged
	Inactivity fee charged

Is Lugano Trade Legit?

　　No, Lugano Trade is not regulated currently. Please be aware of the risk!

What Can I Trade on Lugano Trade?

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Cryptos	✔
Indices	❌
Stocks	❌
Bonds	❌
Options	❌
ETFs	❌

Account Type

　　Lugano Trade offers 4 different account types – Silver, Gold, Platinum and Diamond. The minimum initial deposit for the Silver account is $ 2,500. This is outrageously high. The other accounts also have high initial deposits – $10,000, $50,000 and $100,000 respectively.

Account Type	Min Deposit
Silver	$ 2,500
Gold	$10,000
Platinum	$50,000
Diamond	$100,000

　　Moreover, Lugano Trade offers a demo account.

Leverage

　　Lugano Trade offers leverage of 1:1000 for traders. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Trading Platform

　　The trading software that Lugano Trade offers to its clients is the MetaTrader 4 platform.

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	/	Beginners
MT5	❌	/	Experienced traders

Deposit and Withdrawal

　　Clients of Lugano Tradex may deposit or withdraw via wire transfer, VISA, MasterCard, Skrill, Neteller, Fasapay and Load.

Payment Method	Min Deposit	Deposit Fee	Withdrawal Fee	Deposit Processing Time
Wire transfer	250 EUR/USD	❌	0.5% except in cases where this percentage equals or is below $30	2-15 business days
VISA, MasterCard, Skrill, Neteller, Fasapay and Load	50 EUR/USD	❌		Instant or up to 30 minutes

Fees

　　If the trader‘s account stays inactive for 3 months (91 days), then an inactivity fee of 30 EUR/USD/GBPwill be applied or 1% of client’s total deposit amount whichever is greater.