Luxearn (luxearn.com) is supposedly an ultimate investment solution which promises to make its users literally millions of dollars within months. They offer returns of up to 25% on a daily basis. They claim to be actively involved in forex and stock trading.
This service has been active for around 3 years as of July 2018 and has managed to loot thousands of inexperienced investors. While we were investigating this service, we found a lot of misleading information, fake profit claims and other mind boggling things which makes us believe that it is nothing but a ponzi scheme on steroids which is guaranteed to run away at your expense.
Continue reading our comprehensive review to find out why we urge all our readers to stay away from this monstrous scam.
Company and Contact Details
There is no information about the creators or developers behind this platform. Their is no contact details put up by them. So basically these faceless scammers have maintained anonymity. Will you send your money to a stranger?
Companies which offer financial services to the general public have to be regulated by certain authorities depending upon the location of the firm. Simply put Luxearn is an ICO which raises money from investors for trading purposes and depending upon the initial contribution they are promised a certain dollar figure.
Since this firm has not featured any type of registration or incorporation documents on their website, we believe they are operating illegally.
If you have any query the only way to reach the support team is through a contact form provided on their website. Isn’t is strange an investment firm which does not reveal any contact details of the firm?
How does Luxearn Work?
This firm claims to be trading forex and stocks but does not provide enough information as to how the funds raised are utilized or allocated. We do not know about what factors create a trading bias and the money management techniques followed by them.
There is no information about risk profiling and a major red flag is that the names of the fund managers are not revealed. Looking at all these inconclusive factors sending money to this firm is more like gambling not investing because there is no edge whatsoever.
What kind of returns are offered by Luxearn?
This firm literally promises you millions of dollars within weeks. Any one who has traded before or has any experience in the financial markets can easily spot all the lies sprinkled on this platform.
Here are the investment plans details:
Plan 1 – 5% Daily for 100 Business Days
Plan 2 – 5.5% Daily for 80 Business Days
Plan 3 – 6% Daily for 60 Business Days
Plan 4 – 6.5% Daily for 40 Business Days
Plan 5 – 7% Daily for 30 Business Days
Plan 6 – 0.5% for 356 Business Days
Plan 7 – 1.1% Daily for 100 Business Days
Plan 8 – 1.25% Daily for 80 Business Days
Plan 9 – 2.25% Daily for 60 Business Days
Plan 10 – 2.75% Daily for 40 Business Days
Plan 11 – 14000% After 100 Business Days
These are some of the most popular plans apart from these there are 15 more investment plans which claims to generate returns of more than 1500%. Don’t be gullible enough to trust them.
In order to maximize their revenue these scammers encourage individuals to refer more people on to their platform and provides them attractive incentives for doing so. The affiliates are paid a percentage of deposits made by their clients. This firm also offers custom referral commission if you can generate enough volume.
It is not mandatory for the affiliates to be an active investor in order to get their commissions which is why many HYIP sites promote this fraudulent platform. Simply put at the end of the day they mill make money, not you.
Deposit and Withdrawal
The minimum deposit amount is $25 and the minimum withdrawal amount is $.10. The e-currencies supported by this platform are Bitcoin, Litecoin, Ethereum, BitcoinCash, Dash, PerfectMoney, Payeer and advcash.
We do not know whether there are any transaction fees applicable on withdrawals. They state that the withdrawals are processed within 7 business days.
According to the data provided by whois.com this domain was registered on 12/09/2015 and it expires on 12/09/2015.
This website has a global rank of 692,398 and it ranks 84,759 in Iran according to alexa.com.
The majority of the users coming to this website are from Iran, Mexico, United States, Turkey and Ukraine.
Is Luxearn.com a Scam?
If this platform really works then why don’t they offer a demo account so that the users can test out their effectiveness across various financial markets where they claim to make huge profits?
The sole reason they are not offering any way to try their platform is because they have no skill to present in trading.
Luxearn Review Conclusion
Looking at the kind of outrageous returns claims featured on their platform along with the fact that they are unregulated are some of the main reasons why we are debunking this rotten scam.
If you luckily got a payment then don’t think you will become rich by repeating the process again and again. This platform is a ponzi scheme which will start out by paying people to build good reputation but once they have made enough money or they can’t pay old investors they will disappear and there is nothing you can do to get your money back.