Lumina Group Review – Truth Behind LuminaGroup.Io Scam

Lumina Group presents itself as a company with a large selection of trading tools. These include Forex, stocks, indices, and commodities. But Lumina Group is a scam broker which means that regardless of the wide offer it has, you won’t make money and you won’t be able to withdraw the money you invested.

This phony broker has very bad trading conditions under which investors have to operate. In addition, their trading platform is of very poor quality and is not secure at all.

The biggest problem that Lumina Group imposes on its clients is the unregulated nature of the company. The broker does not have a license to enter the financial market, which means that no one supervises its operations.

In addition, the website is very badly done because it lacks a lot of information that is necessary for potential clients. All these shortcomings do not prevent fraudulent brokers from looking for clients to rob through their manipulative offer, which has no connection with reality. If you are still on the fence regarding this scam broker, read our Lumina Group review to the end.

Lumina Group Regulation and Security of Funds

Lumina Group does not own a license, and the information we found on the website is as follows. The Terms and Conditions state that Halcyon Group LLC is a trading company whose registered office is in James Street Kingstown, St. Vincent and the Grenadines with registration number: 2358 LLC 2022.

The location chosen by the company for its headquarters is St. Vincent and the Grenadines is known to be the resort of all sorts of scam brokers who are unable to get a relevant license. This leaves buyers unprotected because SVG has an unregulated Forex market.

SVG clearly points out and warns that it is not responsible for forex and other types of brokers and that it does not supervise the activities of companies engaged in these financial activities. All this means that your money and your personal data are not safe with the Lumina Group broker, because the broker can do whatever they want, since no one monitors them.

Lumina Group Supported Trading Platform

Lumina Group offers a trading platform that we have already encountered before with fraudulent brokers. It is a very modest trading platform that cannot be compared to industry standards such as MetaTrader4 or MetaTrader5.

The only feature provided by the trading platform offered by Lumina Group is the ability for the user to open pending transactions. There are no additional trading or planning tools nor will your experience be unique on this platform.

The platform does not even have automated trading, and there is also a risk that a fake broker, such as Lumina Group, manipulates the platform, so that users may feel that their money is being traded, while it is actually in someone’s pocket.

Deposit and Withdrawal Options

Lumina Group says on its website that it accepts two payment methods, credit cards, and cryptocurrencies. But in the end, we came to the point that it is only possible to deposit in cryptocurrencies.

That didn’t surprise us at all, because this is a favorite method of scam brokers, which allows them to carry out their scams more easily. Cryptocurrencies do not allow you to request refunds or refunds.

The minimum deposit with Lumina Group broker is $250. In addition, Lumina Group does not provide clear information on the website about the terms of deposits and refunds, and there is no information about fees, which are a regular part of the fraud of such brokers.

How the Fraud Is Conducted

Lumina Group successfully carries out the fraud using the manipulation it carries out on the website. Manipulation consists of a false offer and representation of the broker, as one of those who have good cross-border conditions for business.

In addition, the payment method that uses cryptocurrencies allows the fraudulent broker to keep the user’s money because the transaction cannot be canceled, and the lack of regulation and license only makes life easier for the Lumina Group broker.

That’s how Lumina Group successfully carries out fraud, but these brokers are short-lived and quickly collapse in on themselves. The problem is that they happen to appear on a new website with a new name, and that’s where the fraud continues for them.

Lumina Group Summary

We hope that you now understand why we do not recommend you invest with the Lumina Group broker. Simply, this fraudulent broker is far from meeting the standards and fulfilling the basic conditions that would allow investors to invest properly.

After all, this was never the goal of fraudulent brokers. That is why our goal is to warn you in time and draw your attention to stay away from the Lumina Group broker in order to save both your money and your personal data that could be misused by this fraudulent broker.