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Caution Investors Lux Capitals – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Overview of Lux Capitals
Lux Capitals is a website that claims to be a market intermediary that provides investment and trading services, such as stocks, forex, commodities, indices, and cryptocurrencies. The website also claims to offer various products and services, such as trading platforms, educational resources, market analysis, and customer support. However, the BCSC British Columbia Securities Commission has issued a warning about Lux Capitals, stating that it is not registered to trade in, or advise on, securities or derivatives in British Columbia.
Regulation and Compliance of Lux Capitals
According to the BCSC, Lux Capitals is not authorized to operate as a market intermediary in British Columbia or any other jurisdiction in Canada. The BCSC also warns that Lux Capitals may be operating from overseas and targeting British Columbia residents through online advertisements and social media. The BCSC advises investors to exercise caution when dealing with firms that are not registered to trade or advise in British Columbia, as they may not comply with the local laws and regulations that protect investors.
Customer Reviews of Lux Capitals
A quick search on the internet reveals that Lux Capitals has received many negative reviews and complaints from customers who claim to have lost money or been scammed by the firm. Some of the common issues reported by customers include:
– Difficulty in withdrawing funds or closing accounts
– High fees and commissions
– Poor customer service and communication
– False or misleading information and promises
– Pressure to deposit more money or upgrade accounts
– Manipulation of trading results or account balances
Products and Services Offered by Lux Capitals
Lux Capitals claims to offer a variety of products and services to its customers, such as:
– Trading platforms: Lux Capitals claims to provide access to several trading platforms, such as MetaTrader 4, MetaTrader 5, WebTrader, and Mobile Trader. However, these platforms may not be secure or reliable, and may expose customers to hacking or identity theft.
– Educational resources: Lux Capitals claims to offer educational resources, such as webinars, videos, articles, and ebooks, to help customers learn about trading and investing. However, these resources may not be accurate or relevant, and may contain false or misleading information.
– Market analysis: Lux Capitals claims to offer market analysis, such as news, charts, signals, and indicators, to help customers make informed trading decisions. However, these analysis may not be objective or reliable, and may influence customers to trade in a way that benefits the firm.
– Customer support: Lux Capitals claims to offer customer support, such as phone, email, chat, and callback services, to assist customers with any issues or queries. However, these support services may not be responsive or helpful, and may pressure customers to deposit more money or upgrade accounts.
Location of Lux Capitals
Lux Capitals does not disclose its physical address or contact details on its website. The only way to contact the firm is through an online form or an email address. The website also does not provide any information about its ownership or management. This raises questions about the transparency and accountability of the firm. The BCSC warns that Lux Capitals may be operating from overseas and targeting British Columbia residents through online advertisements and social media.
Customer Service Provided by Lux Capitals
As mentioned above, Lux Capitals claims to offer customer support services through phone, email, chat, and callback options. However, many customers have reported that these services are either unavailable or unresponsive. Customers have also complained that the customer service representatives are rude, unprofessional, or aggressive. Some customers have even alleged that the customer service representatives have threatened them with legal action or harassment if they try to withdraw their funds or close their accounts.
Defensive Measures Against Fraudulent Brokers
The BCSC advises investors to take the following steps to protect themselves from fraudulent brokers:
– Check the registration status of any firm or individual offering investment or trading services in British Columbia. You can do this by using the National Registration Search tool on the Canadian Securities Administrators website.
– Do your own research before investing with any firm or individual. You can do this by searching for reviews, complaints, warnings, or alerts about the firm or individual on the internet or on social media.
– Be wary of unsolicited offers or promotions that sound too good to be true. You can do this by asking questions, seeking independent advice, and verifying the information provided by the firm or individual.
– Never send money or personal information to anyone you don’t know or trust. You can do this by using secure payment methods, avoiding wire transfers or cryptocurrencies, and protecting your passwords and PINs.
Lux Capitals is a market intermediary that claims to offer investment and trading services in various markets. However, the BCSC has issued a warning about the firm, stating that it is not registered to trade or advise in British Columbia, and that it may be operating from overseas and targeting British Columbia residents. The BCSC also warns that Lux Capitals may not comply with the local laws and regulations that protect investors, and that customers may face difficulties in withdrawing their funds or closing their accounts. The BCSC advises investors to exercise caution when dealing with Lux Capitals and other unregistered firms, and to take defensive measures to protect themselves from fraudulent brokers.