Score
LunoTrade
Nigeria|5-10 years| http://www.mylunotrade.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- 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!
Basic information
Nigeria
Scam Brokers 5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskUsers who viewed LunoTrade also viewed..
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Website
mylunotrade.com
Server Location
United Kingdom
Website Domain Name
mylunotrade.com
Server IP
185.61.154.56
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.
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:
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.
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.
Limited customer support options: LunoTrade provides limited avenues for users to seek assistance or resolve issues.
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.
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.
Keywords
- Scam Brokers
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
News
Exposure Scam Alert: Beware of LUNOTrade (www.mylunotrade.com). Your Capital Might Be At Risk!
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.
2023-01-06 10:47
Exposure WikiFX Broker Exposed: LUNOTrade Swindled Another Broker
A report that has been received by WikiFX about LUNOTrade
2022-09-05 15:26
Exposure WikiFX Exposure: LUNOTRADE will extort traders for them to withdraw their funds. Beware!
LUNOTRADE a scam brokers that victimized 3 traders in a week.
2022-08-15 16:30
News WikiFX report: Crypto exchange Luno facilitates record R121bn transactions
Global crypto-currency exchange Luno added almost a million new South African customers during 2020, and over 250 000 so far in 2021.
2022-05-17 16:38
News WikiFX report: Luno Offers Bitcoin Cash for Trading Following Approval From the SC
Luno has announced that it is the first Malaysian digital asset exchange to be allowed by the Securities Commission Malaysia to trade Bitcoin Cash (BCH).
2022-05-17 16:33
News WikiFX report: Luno looks at who is buying crypto in South Africa
Regardless of your position on cryptocurrencies, the truth is that it is here to stay, with a particularly strong base in South Africa. Luno examined its data in order to provide some insight into who buys crypto locally.
2022-05-17 15:28
Review 45
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青青河边草9625
Hong Kong
This platform to acquire the MEME platform for the reason of freezing all the funds on the MEME platform, requiring each person to top up more than 2,000 funds to activate the previous account funds, the funds topped up can not be taken out, now all the funds on the platform can not be seen, the platform before the operator has also disappeared.
Exposure
2023-01-03
赵5435
Hong Kong
Do not withdraw. Keep luring users. The customer service is disappeared.
Exposure
2023-01-03
Ronza
South Africa
I deposited the amount of more thn R150000 to Mr Joseph Lubin even today I never received my withdrawals another valr company took the amount of R25000 saying they will recover my money I never got anything
Exposure
2022-12-02
vicky5230
South Africa
Good evening a was scam with 910,98 for luno Trader and VALR pty ltd company a ND a have proof of payment and never received any response or money form them
Exposure
2022-10-26
Tsani
South Africa
Hello my name is Africa Motlhabi From north west in South Africa I started Trading at 2021-09-21 The amount I started with it was R2 000 The Lady Who Helped me Her Name is Moreki Tebogo.. I realized after I deposited 3 times For Fees... The total amount deposited is R7 648 including the first amount I started Trading Unable to withdraw
Exposure
2022-09-22
Hlabathi Aaron
South Africa
i trades to digitaltradesgroup.com now its been 4Months i requested withdrawal after i make withdrawing they told me about to make a payment of IMF till now i didn't received my profits i don't know what to do i need help to get my money back
Exposure
2022-09-14
Hlabathi Aaron
South Africa
I was trying to get help for recovery my Fund i find a lady from Facebook her is Temetah Zuma don't ask a help to that she is a big fish of scammers she told me to purchase Authentication Code with R10200 i purchased than after one day she said my money bounce back from my bank account than i must pay R5700 for bounce back fee till now i didn't received my profits be careful of those things now im broke because of scammers
Exposure
2022-09-09
Hlabathi Aaron
South Africa
i try to trades with someone call her self Mary Thato and the other one is Andries Antonopoulos i deposit R5000 in my luno app she send to her adress on online trading after she told me to upgrade with R25500 i deposited than after she told me to deposit 10% for company before i received my profits i deposited after few days she told me i must pay for IMF CODE i refuse to pay now is busy massage me about payment of IMF Code all the money i deposited to her is R86500 and i need my money back i need help to get my money back im broke right now because of them
Exposure
2022-09-08
Du97634
South Africa
Im being scammed by precious Nelly Gumede on the 6 of August 2022 she asked me to deposit R1000.00. on the 9 th August this month she asked me to transfer this money using certain link we have been communicating on watsapp. she asked me to add more money i realised i have been scammed and this is fraud. she asked me to add R5000 . i blocked her and we never spoke again please investigate and brought back my money. before she scamm more people
Exposure
2022-08-13
Lins
South Africa
I got scammed by a lady named Jane Masego Isikhathi, when I had to withdraw got an email saying I must upgrade my trade with R6600 and get my profit and she kept saying I will get my profit in two working days.
Exposure
2022-08-12
Sandile Nhlapho
South Africa
i was scammed twice on luno 1st was some guy I met on Telegram by the name of James Richardson took my R1600 as if he was gonna invest for me then he blocked me after receiving the money and the 2nd i met on Facebook by the name of Jessica Laine also send her my money to trade for me and ask for another money to withdraw she took my $50 plus $200.
Exposure
2022-08-11
FX2140240462
South Africa
they just demand money and zero delivery they are scammers changing bank accounts and numbers
Exposure
2022-04-20
FX2140240462
South Africa
I have been scammed everytime I try to do withdrawals I can’t they are requesting for more and I will never get paid
Exposure
2022-04-07
FX4140787274
South Africa
I had met with nelisewe masango who told me to start investing and i will get much profit later i started to invest and begin to see my profit growing but time to withdraw I was just requested to deposit another money but I didn't deposit but I'm not yet get my money
Exposure
2021-11-13
Linda Alwar
South Africa
I was invited by a women from Facebook. Named Ella, informed me about binary option trading. She introduced me to a expert trader, named "Tim Draper",the expert trader told me, if I deposit R3000 in my Luno account. I would get a profit of R33000. So I deposited R3000. Then the trader said I must deposit R10000 because my profits over grow. I now require a classical system.Few days later he said my profits can be released. I just need to pay the organisation R30000 for trading for me.
Exposure
2021-09-04
Rudolph Strydom
South Africa
There was a youtube live stream from Brad Garlinghouse saying go to get-xrp.com to get your xrp 100 000 airdrop were u sent them min 5000 xrp and get double that back immediately
Exposure
2021-08-26
FX2007496070
South Africa
Keeps asking for money for charges endless now they want to delete my trade acc I can't withdraw from the trade platform called promarketrade.com
Exposure
2021-08-25
FX9950399042
South Africa
i saw alady on facebook talk about work from home by make money mean while you at home i toke her numbee and i whatsapp her and she introduce LuNo trading she show me that she is a legit broke i aske her how can i do that too she said sand back details of an account that i will make transetion on she even show me pic's of her clients when i deposit my money i first transef R500 so i can R3000 as my profit she i will receav it within 24hrs i wait untile tomorroy morning i recev an email saiying
Exposure
2021-08-16
Nhlanhla Shumba
South Africa
I was introduced to this by bonolo they told me im so lucky my profits were over runned so i need to deposit 45k to get my profits where the hell am i going to get 45k and i borrowed money from people hoping il be able to pay them back
Exposure
2021-08-13
FX2803770263
South Africa
i invested r3000 with luno account standard bank the said to me my profits was over runned so i suppose to upgrade and pay some amount r8000 i did deposit r1000 now they ignoring i told them to refund my money they say is impossible
Exposure
2021-08-12