My experience with Lux Trading Firm didnt end well.
Started off very well and felt this Prop could have been 'the one' but at the weekend they decided to change the brokers they use. This resulted in a miss match of data on their dashboard that i discovered once they terminated my account. They admitted there was indeed an error but they prefer to shift the blame onto me and my management and offer zero compensation or any form of an apology. In my opinion you only find out the quality of a company when you have an issue and can base your judgment on how they handle it.
My drawdown limit was displayed at $35k (see the attached picture) but i was stopped out.
Termination email stated due to:
Your High Balance was $1,062,004.62, corresponding to your Relative Max Allowed Drawdown Level of $1,008,904.39.
At the recorded time of stopout (2023.06.27 14:05 servertime), your balance reached $1,007,904.56.
I have raised a complaint and they justify the error with the following message:
"The information in the dashboard is solely meant as a help and support, and no value or rights can be obtained from the use of it. The data used to construct this dashboard is retrieved in an automatic electronical way from the server of the broker using the internet. Errors can occur in the retrieval and storage of this data on Lux's servers due to database or server failure, errors or delays in communications, undetected bugs, amongst others. Should you notice a discrepancy between the data provided by the broker through the trading platform, or your own calculations, and the data on this dashboard, we kindly ask you to report this discrepancy immediately by email or chat. In case of a discrepancy, the data provided by the trading platform prevails, unless proven incorrect. Lux Trading Firm is not responsible for any loss or loss of profit due to the use of the data in this dashboard or your decisions based upon this data. A trader should always be aware of his position, and do his own calculations. All data on this dashboard is delayed, and you should treat it as such."
And apparently i should have disregarded the dashboard information and quote from their response email "Actually, all you had to do was to check your trade history and check your prior account and the settings. You would see"
Started off very well and felt this Prop could have been 'the one' but at the weekend they decided to change the brokers they use. This resulted in a miss match of data on their dashboard that i discovered once they terminated my account. They admitted there was indeed an error but they prefer to shift the blame onto me and my management and offer zero compensation or any form of an apology. In my opinion you only find out the quality of a company when you have an issue and can base your judgment on how they handle it.
My drawdown limit was displayed at $35k (see the attached picture) but i was stopped out.
Termination email stated due to:
Your High Balance was $1,062,004.62, corresponding to your Relative Max Allowed Drawdown Level of $1,008,904.39.
At the recorded time of stopout (2023.06.27 14:05 servertime), your balance reached $1,007,904.56.
I have raised a complaint and they justify the error with the following message:
"The information in the dashboard is solely meant as a help and support, and no value or rights can be obtained from the use of it. The data used to construct this dashboard is retrieved in an automatic electronical way from the server of the broker using the internet. Errors can occur in the retrieval and storage of this data on Lux's servers due to database or server failure, errors or delays in communications, undetected bugs, amongst others. Should you notice a discrepancy between the data provided by the broker through the trading platform, or your own calculations, and the data on this dashboard, we kindly ask you to report this discrepancy immediately by email or chat. In case of a discrepancy, the data provided by the trading platform prevails, unless proven incorrect. Lux Trading Firm is not responsible for any loss or loss of profit due to the use of the data in this dashboard or your decisions based upon this data. A trader should always be aware of his position, and do his own calculations. All data on this dashboard is delayed, and you should treat it as such."
And apparently i should have disregarded the dashboard information and quote from their response email "Actually, all you had to do was to check your trade history and check your prior account and the settings. You would see"