On February 22, 2024, the Autoriteit Financiële Markten (AFM) issued a warning to consumers to avoid offers from Luminetrade.
The company is suspected of being a boiler room, which means it uses aggressive and misleading tactics to persuade investors to part with their money.
For a detailed review, you can read the comprehensive LumineTrade Review.
Company Details:
- Name: Luminetrade
- Address: 10 Finsbury Square, London EC2A 1AF, UK
- Phone Numbers:
- AU: +61251108353
- UK: +442034359251
- CA: +14388047756
- Email: support@luminetrade.com
- Domain Name: https://www.luminetrade.com
Key Information:
Luminetrade, operating out of a London address, is not authorized by the AFM to solicit investments.
The company has been linked to boiler room activities, which typically involve high-pressure sales tactics and deceptive information to convince people to invest in non-existent or worthless stocks.
Risks Involved:
Engaging with companies like Luminetrade poses significant financial risks.
Boiler rooms often promise high returns with little to no risk, but in reality, investors are likely to lose their money. These operations are not regulated, leaving investors without any legal protection.
Recommendations for Consumers:
- Avoid Unsolicited Offers: Be cautious of unsolicited calls or emails promoting investment opportunities.
- Verify Company Credentials: Always check if a company is registered and authorized by the AFM or other relevant regulatory bodies before investing.
- Research Thoroughly: Investigate the company’s background, read reviews, and verify domain registration details.
- Stay Skeptical: Be wary of high-pressure sales tactics and promises of guaranteed returns.
For more details, refer to the official AFM warning.
The AFM urges all consumers to exercise due diligence and remain vigilant to protect their financial interests.
If you have been approached by Luminetrade or have already invested with them, contact the AFM for guidance and support.
By staying informed and cautious, you can better safeguard your assets from potential fraud and high-risk investment schemes.
