Best suited for: This firm has a great mentorship/educational aspect to it. Therefore it will suit a newer trader who is looking to grow and progress into a successful trader.
- Models on offer: 7/10
- Cost: 7/10
- Rule Fairness: 9/10
- Support: 9/10
- Profitability: 8/10
- Scaling System: 9/10
- Overall: 8.5/10
Lux trading firm is a UK based prop firm with some exciting features. Lux has a much more hands on approach with traders, helping them grow and progress . They offer an amazing elite package which includes a trip to their live trading rooms and gives you a chance to meet the investors who’s capital you will be using.
When signing up to lux trading, you have the option of a $5k, $10k or $15k initial balance.
Example $5000 account
Phase 1 – $5000 Demo account – Profit target 6%
Phase 2 – $5000 Live account – Profit target 6%
Phase 3 – $50000 Live account – Profit target 10%
You then scale up at every 10% profit.
You also have the option to sign up as an elite trader. This is far more expensive but comes with a range of benefits including:
- Evaluation account and 3 resets
- Live trading room
- One on one coaching sessions
- Personal risk manager
- Education videos
- In person training in Monegro including accommodation
- Traders Central software
Lux trading expects traders to trade responsibly and with exceptional risk management. Therefore the rules are relatively strict compared to other firms. Some rules include:
- Max relative drawdown 4%: This is based on the highest account balance and is effected by equity and balance.
- Stop Loss – Every trade must have a stop loss attached
- Trading styles -All trading styles are allowed
- Time limits – No time limits
Expert advisers are only allowed if they are created personally.
75% to the trader.
Lux trading firm has exceptional support, especially after phase 2 where you will be assigned a personal risk manager to help you progress as a trader. They also operate a live trading room which traders can benefit from.
For standard accounts:
$5000 – £329
$10000 – £439
$15000 – £549
For elite packages:
$5000 – £1999
$10000 – £2499
$15000 – £2999
Evaluation, Advanced, and the Professional 50k, 100k, or 150k Accounts have a leverage of 1:10 on Forex and Metals, 1:5 on Indices, Commodities, and Bonds, and 1:1 on Shares.
Lux trading firm is definitely not the cheapest, but if your serious about trading they are certainly a great choice. If you’re looking to get into the industry and have the money to spare, the elite package is unparalleled in the industry.