Luminor
About Luminor Bank
Luminor Bank is a financial institution operating in Latvia, Lithuania, and Estonia. Thanks to the membership of these countries in the EU and its own legislation, the bank provides a wide range of services for traders.
Main Services
- CFD
- Stocks
- ETFs
- Forex
- Futures
Money Operations
Replenishment of the Luminor Trade account is carried out via bank transfer. Depositing funds into the trading account is free, but can only be done from a Luminor account.
To withdraw funds, you need to fill out a request form, sign it, and send it by fax. There is also an option to submit a request through internet banking. Payments are processed within 1-2 business days, with a commission of 2 euros or 2.7 dollars.
Trading Platforms
Luminor TraderGO is a platform that provides access to financial markets. No application download is required; simply log in through a browser using your username and password. Settings are saved and synchronized for access from any device.
Luminor Trade is a platform for experienced traders. It offers professional tools for monitoring, technical analysis, and requesting analytics. It allows trading with a variety of products: Forex, ETFs, stocks, options, CFDs, futures.
Advantages and Disadvantages
Advantages include the legality of operations and funds insurance up to 20,000 dollars.
Disadvantages mainly concern non-residents of Latvia:
- All operations are linked to a bank account.
- Personal presence at a branch is required to open an account.
- There is no informative guide on the TraderGO platform.
- Face-to-face consultation with a specialist is required to use Luminor Trade.
- The Russian version of the website needs improvement.
- Technical support in Russian is limited.
Conclusions
Luminor brokerage company continues to develop successfully, but attention should be paid to certain aspects of its operation.