As a trader seeking capital, it can be challenging to determine which prop firm is the best fit for your specific needs and goals. While many prop firms claim to help traders succeed, it’s essential to do your research before choosing the one that is best for you.
Lux Trading Firm stands out in a crowded market and is definitely worth considering. Lux Trading is a UK-based proprietary trading firm that offers funded accounts to experienced traders. The firm was founded by asset managers and has a global network that supports traders in 80 countries. With a rating of 4.5/5 on Trustpilot, Lux Trading has established a strong track record among online prop firms.
In this comprehensive Lux Trading Firm Review, we’ll provide the valuable insight you need to decide if Lux Trading Firm is the right choice for you.
What Is Lux Trading Firm?
Lux Trading Firm is a London-based proprietary trading firm that strives to support both new and experienced traders by providing them with the necessary tools and capital to succeed in the marketplace. Traders can trade forex, indices, debt, and commodities using any trading style they prefer. After successfully passing an evaluation, traders receive a live-funded account with capital provided by the prop firm, eliminating the need to risk their own money when trading assets.
The firm was founded by expert traders with more than three decades of industry experience. These traders have been through fluctuating market conditions and have learned the ins and outs of the trading world since the early 90s. Today, Lux Trading Firm boasts a strong team of asset managers, financial experts, system developers, and fund managers who offer valuable support and insight to traders.
Lux Trading Firm has forged partnerships with some of the largest financial institutions in the world, including Barclays, Credit Suisse, and Goldman Sachs.
Features
Lux Trading Firm is known for its exceptional features that set it apart from its competitors. These features include:
- Multiple account options: Lux Trading Firm provides a range of account options, from $25,000 to $1 million, with the $1 million account being able to bypass the trial stage. This is a significant benefit compared to other prop firms that only offer one or two account options.
- Scale up to $10 million: Traders can continue to increase their account size and grow their profits with Lux Trading Firm, with the opportunity to trade with up to $10 million in just six stages.
- One-on-one mentorship: Lux Trading Firm offers a unique mentorship program that enables traders to select a mentor and receive guidance on trading rules and strategies to boost their success.
- No maximum time limits: Unlike many prop firms, Lux Trading Firm does not impose a maximum time limit on reaching profit targets or completing evaluation stages, eliminating additional stress for traders.
How Does Lux Trading Firm Work?
Lux Trading Firm offers a unique evaluation process where traders can trade with real money to demonstrate their skills and progress to live funded accounts. The evaluation process comprises two stages: the Evaluation and Advanced Account stages, each with profit targets ranging from $3,000 to $6,000 depending on the account size.
The profit split is 75/25 with 75% going to the trader and 25% to Lux Trading Firm. Lux Trading Firm has five different account sizes, ranging from $25,000 to $1 million, with corresponding profit targets.
There are two types of trading accounts at Lux Trading Firm: the Lux Career Trading Plan and the Lux Elite Traders Club. The Lux Career Trading Plan features three account sizes, starting from $50,000 and increasing to $200,000, and requires traders to achieve a 10% profit target and follow specific trading rules. This type of account is great for traders who possess the skills to succeed but lack the capital to trade.
The Lux Elite Traders Club is a program designed for traders at all levels, offering different features for each account type. The program includes a live trading room, mentorship, educational content, risk management desk services, and exclusive workshops.
Traders can choose between three account sizes ranging from $50,000 to $200,000, and they must follow the same rules as the standard accounts, including the 10% profit target and approved asset trading.
Lux Trading Firm Review: The Pros & Cons
Pros:
- Lux Trading Firm’s accounts have the potential to grow up to $10 million, making it an attractive option for ambitious traders.
- The firm does not impose any time limits on its trial stages, which allows traders to learn at their own pace.
- Lux Trading Firm is partnered with top liquidity providers, giving its traders access to a wide range of assets to trade.
- Integrations with leading trading platforms, which makes it easy for traders to use the software they are familiar with.
- Free trials are available, allowing traders to try out the platform and evaluate their performance before committing to a paid account.
- Lux Trading Firm provides many popular withdrawal options, free of charge.
- Both Lux Trading Firm and Global Prime are 100% regulated, providing traders with peace of mind.
Cons:
- Fees can be significant if traders do not pass the firm’s challenges, which may be a barrier to entry for some.
- Average profit splits are lower than some competitors, which may make it less attractive for more experienced traders.
- Traders are only allowed to use advisors that are their intellectual property, with usage of other advisors resulting in a ban.
Lux Trading Firm Alternatives
If Lux Trading Firm’s lower profit splits are a nonstarter for you, rest assured there are other companies offering better profit splits. Take TopStepTrader for example, they allow their traders to take 100% of the first $5,000 and 90% after that. You can read more about them in this highest paying prop trading firms article.
TopStepTrader isn’t the only significant competition for Lux Trading Firm, you can also look into other industry heavyweights such as Earn2Trade or Fidelcrest. Each firm offers their own unique benefits. Which one is right for you will depend on your trading style and financial goals.
You can find comprehensive lists and breakdowns at this best prop trading firms article and this best funded stock trading accounts article.
Final Thoughts
Lux Trading Firm is a reliable option for those seeking to explore the world of trading. The company’s partnerships with top liquidity providers, as well as integrations with leading trading platforms, make it an attractive choice.
However, it’s important to note that fees can be significant if traders do not pass the challenges, and average profit splits are below competitors. Traders can only use advisors that are their intellectual property, and the usage of other advisors results in a ban.
Despite these limitations, Lux Trading Firm offers a promising option for those seeking to build their trading accounts. Click Here to check out Lux Trading Firm and see if it’s the right fit for you.