WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

LunoTrade

Nigeria|2-5 years|
Suspicious Regulatory License|High potential risk|

http://www.mylunotrade.com/

Website

Rating Index

Contact

http://www.mylunotrade.com/
https://www.facebook.com/lunoinsured
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

MylunoTrade LTD

Abbreviation

LunoTrade

Platform registered country and region

Nigeria

Company website
Facebook

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 5
Previous Detection : 2024-10-04
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 36 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

LunoTrade · WikiFX Survey

Users who viewed LunoTrade also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

KCM Trade

7.75
Score
5-10 yearsStraight Through Processing(STP)
Official website

VT Markets

8.59
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)
Official website

GTCFX

8.11
Score
10-15 yearsRegulated in United KingdomStraight Through Processing(STP)
Official website

LunoTrade · Company Summary

Aspect Information
Company Name LunoTrade
Registered Country/Area Nigeria
Founded Year 2020
Regulation Not regulated
Market Instruments N/A
Account Types N/A
Trading Platforms N/A
Customer Support Facebook(https://www.facebook.com/lunoinsured)

Overview of LunoTrade

LunoTrade, a newly established trading platform founded in 2020, operates from Nigeria. However, this regulation is suspected to be a clone. Their official website is inaccessible raise risks about the reliability of their trading platform. Client can contact them via email.

Overview of LunoTrade

Is LunoTrade legit or a scam?

LunoTrade operates without regulatory oversight, potentially raising issues about transparency and supervision. Unregulated exchanges lack the vigilance and legal safeguards provided by regulatory bodies, thereby increasing the risk of fraud, market manipulation, and security breaches. The absence of regulation can complicate users' efforts to seek remedies and resolve disputes. Furthermore, the lack of regulatory oversight fosters a less transparent trading environment, impeding users' ability to evaluate the exchange's legitimacy and dependability.

Pros and Cons

Pros Cons
N/A Lack of regulatory oversight
Limited educational resources
Limited customer support options
official website inaccessible

Pros:

  • N/A

Cons:

  1. Lack of regulatory oversight: LunoTrade operates without direct supervision or regulation from financial authorities. This absence of oversight can lead to potential risks for users, such as lack of protection against fraudulent activities or disputes.

  2. Limited educational resources: LunoTrade offers minimal educational materials or resources to help users understand the complexities of cryptocurrency trading. Without comprehensive guidance, users may struggle to make informed decisions and manage their investments effectively.

  3. Limited customer support options: LunoTrade provides limited avenues for users to seek assistance or resolve issues.

  4. Official website inaccessible: Users may encounter difficulties accessing LunoTrade's official website, which can impede their ability to conduct transactions, access account information, or obtain updates on market conditions.

Customer Support

LunoTrade's customer support via Facebook(https://www.facebook.com/lunoinsured) falls short of expectations. Responses are sluggish, often leaving users hanging with unresolved issues. The replies received are frequently generic and unhelpful, demonstrating a lack of empathy for users' problems. It appears that customer satisfaction is not a priority for LunoTrade on their Facebook platform, as evidenced by the apparent neglect and indifference towards user inquiries and complaints. This dismal level of support erodes trust and tarnishes the company's reputation, leaving customers feeling neglected and frustrated.

Customer Support

Conclusion

In conclusion, there are significant issues about LunoTrade legitimacy and reliability. The inaccessibility of their official website is a red flag and raises doubts about the trustworthiness of their trading platform. This lack of accessibility, along with the suspicious NFA regulation, indicates a higher level of risk associated with investing with LunoTrade.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

FAQ

Q: Is LunoTrade regulated?

A: No, LunoTrade operates without regulatory oversight, raising risks about transparency and supervision.

Q: What risks are associated with trading on LunoTrade?

A: Unregulated exchanges lack vigilance and legal safeguards, increasing the risk of fraud, market manipulation, and security breaches.

Q: How can I contact LunoTrade for support?

A: You can contact LunoTrade via email for assistance with any inquiries or issues.

Q: What are the cons of using LunoTrade?

A: LunoTrade lacks regulatory oversight, offers limited educational resources, has few customer support options, and its official website is inaccessible.

News

Scam Alert: Beware of LUNOTrade (www.mylunotrade.com). Your Capital Might Be At Risk!

ExposureScam Alert: Beware of LUNOTrade (www.mylunotrade.com). Your Capital Might Be At Risk!

2023-01-06 10:47

A WikiFX Broker's review to fraud broker LUNOTrade (www.mylunotrade.com) to warn not to invest and make use the WikiFX more often to easily identify the suspected scam brokers.

WikiFX
2023-01-06 10:47
Exposure
Scam Alert: Beware of LUNOTrade (www.mylunotrade.com). Your Capital Might Be At Risk!
WikiFX Broker Exposed: LUNOTrade Swindled Another Broker

ExposureWikiFX Broker Exposed: LUNOTrade Swindled Another Broker

2022-09-05 15:26

A report that has been received by WikiFX about LUNOTrade

WikiFX
2022-09-05 15:26
Exposure
WikiFX Broker Exposed: LUNOTrade Swindled Another Broker
WikiFX Exposure: LUNOTRADE will extort traders for them to withdraw their funds. Beware!

ExposureWikiFX Exposure: LUNOTRADE will extort traders for them to withdraw their funds. Beware!

2022-08-15 16:30

LUNOTRADE a scam brokers that victimized 3 traders in a week.

WikiFX
2022-08-15 16:30
Exposure
WikiFX Exposure: LUNOTRADE will extort traders for them to withdraw their funds. Beware!
WikiFX report: Crypto exchange Luno facilitates record R121bn transactions

NewsWikiFX report: Crypto exchange Luno facilitates record R121bn transactions

2022-05-17 16:38

Global crypto-currency exchange Luno added almost a million new South African customers during 2020, and over 250 000 so far in 2021.

WikiFX
2022-05-17 16:38
News
WikiFX report: Crypto exchange Luno facilitates record R121bn transactions

Review 45

45 Comments
Write a comment
All(45) Latest Positive(5) Exposure(40)
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com