Most traders will satisfy AML/KYC requirements by submitting a copy of their ID along with one proof of residency document. Since mobile apps cater more to portfolio management, up-to-date developments, and copy trading, they offer the necessary tools to achieve the above. They include economic calendars, streaming news, and watch lists but do not include the cutting-edge trading tools LunarCapital offers for its desktop trading platforms. The asset selection for MT4/MT5 traders consists of more than 250 trading instruments, an adequate level of choice for most traders. Forex traders get 70+ currency pairs, and diversification opportunities exist via cryptocurrencies, commodities and metals, indices, equity CFDs (available through the MT5 trading platform), and bonds.
In addition to great trading services, LunarCapital also provides copy trading and additional trading tools that help the traders in understanding the trends and trading opportunities. LunarCapital has a 4.9/5 rating on Trustpilot – which is an exceptional rating for a forex broker. According to his comments, it was evident that the customer service team issued prompt responses. LunarCapital allow their clients a series of ways to fund/withdraw from their accounts.
LunarCapital User Experience
The tier-1 banks such as National Australia Bank and the Commonwealth Bank of Australia are used to keep the trader’s money separate with daily fund reconciliation. The FAQs are categorized into different categories and a search bar is also available to help find the answers to the questions. There are limited ways to avail the support of the customer service team at LunarCapital. However, they are constantly making an effort to minimize the waiting time while ensuring quality service to their customers.
- It is one of the largest and most liquid financial markets globally, with a daily trading volume exceeding $6 trillion.
- Investing in social trading represents an intelligent management decision and shows a fluid broker seeking to offer the best services to clients.
- The lack of a dedicated phone line can lead to delays in resolving urgent issues, potentially impacting traders’ decisions during crucial moments.
- The broker also has a partnership with financial institutions to ensure competitive margins at just 1% with zero commissions.
- Safety is a paramount concern for any trader, and LunarCapital takes several measures to ensure the security of its clients’ funds and personal information.
- Advanced encryption technologies safeguard sensitive information, minimizing the likelihood of data breaches or unauthorized access.
Limited range of tradable assets compared to some competitors
- However, it’s important to remember that while LunarCapital does not charge for withdrawals, clients may face fees from intermediary banks for international transactions.
- From advanced tools that facilitate automated and social trading to services that ensure the stability and efficiency of trade execution, these additional offerings cater to the diverse needs of traders.
- Additionally, traders can invest in a wide range of global stocks, explore fixed-income securities with bonds, and employ sophisticated strategies with options trading.
People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Users can reach out to customer support via Live Chat, Call Back, and Email Support. LunarCapital also allows a wide range of withdrawal methods that include credit cards, debit cards, bank transfers, Neteller, Skrill, Dragonpay, etc. The method chosen by the client can affect the time taken for the withdrawal process. Any withdrawal made through credit cards, debit cards or domestic bank wire will take only 1 business day while international bank wire can take up to 5 business days to process payments. Technical analysis can be done through charts and a set of indicators.
LunarCapital: Tight spreads and advanced platforms for CFD trading
Additionally, each platform is available on different devices, ranging from mobile apps, to webtrader options, and desktop trading platforms. If you are a forex and CFD trader looking for a trusted broker, LunarCapital can be an ideal choice for your trading journey. However, We always encourage traders to test brokers with a demo account or with a small deposit. Once you are satisfied with the trading conditions of the broker, you may proceed with real trading. The eBooks, guides, and glossary are also provided by the academy to ensure the best learning environment for traders.
However, they can remain active indefinitely as long as the account is regularly utilized. Additionally, they use STP (Straight-Through Processing), routing orders directly to liquidity providers without a dealing desk. LunarCapital may require additional documentation or verification steps before processing a withdrawal.
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. LunarCapital shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader, TradingView, or cTrader platform. The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform and is generally a much pricier option.
What is the minimum deposit at LunarCapital?
The broker offers competitive trading fees, enhancing cost-effectiveness for various asset classes. First Prudential Markets (popularly known as LunarCapital) stands as a beacon of versatility, serving both novice and seasoned https://lunarcapital.net/ traders. With a diverse array of instruments and account types, the Australia-based company caters to all, making it a valuable ally in the world of online trading. LunarCapital stands out for the competitive pricing available to forex traders with its ECN account. However, that pricing is only available with the MetaTrader platform, and LunarCapital offers only 764 symbols on MetaTrader 5 (MT5).
This diversity allows traders to diversify their portfolios effectively. TopBrokers.com will not accept any liability for loss or damage as a result of reliance on the information on this site. Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.
Overall, its commitment to transparency, security, and trader education makes LunarCapital an excellent choice for anyone looking to engage in forex and CFD trading. LunarCapital caters to desktop users by offering trading software compatible with both Windows and Mac operating systems. Windows users can download the desktop platform, while Mac users can access it through web-based solutions. These desktop apps provide advanced charting tools, user-friendly interfaces, and support for MetaTrader, algo-trading, and copy trading, making them suitable for traders of all levels and preferences.
LunarCapital Tools and Resources
As I understand it, it’s only the LunarCapital subsidiaries outside Australia that don’t offer IRESS, so in your case I don’t believe you should need to use the VPN. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates.
Clients may access all available options from their back office, where LunarCapital lists all payment processors transparently. The availability depends on the country of residence, and not all traders may have access to all payment processors. Clients can access the trading tools from the back office of their trading account. LunarCapital offers Islamic traders the option of opening an Islamic account. Supporting documentation proving Islamic status may be required from the client in some cases. The broker maintains client funds in segregated accounts, protecting them from operational risks.
Trading Tools
LunarCapital employs state-of-the-art security protocols to protect client data and transactions. Advanced encryption technologies safeguard sensitive information, minimizing the likelihood of data breaches or unauthorized access. In addition to ASIC regulation, LunarCapital complies with international standards, positioning itself as a trustworthy entity in the global marketplace. Their adherence to Anti-Money Laundering (AML) and Know Your Customer (KYC) policies showcases their commitment to maintaining integrity in their operations. Traders must check if LunarCapital operates in their respective countries before proceeding, as this can affect their ability to open an account and trade effectively. While there are many positives to LunarCapital, no broker is without its drawbacks.
