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LumiGain

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Operating status: SCAM

Website: https://lumigain.io/

Broker violations and abnormal records
  • 2025-02-24 The BaFin issues a warning against LumiGain

    On February 25 2025, the Federal Financial Supervisory Authority (BaFin) issued a warning against LumiGain, believing this company might be providing financial services or products without proper authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_02_17_LumiGain_en.html

    On February 25 2025, the Federal Financial Supervisory Authority (BaFin) issued a warning against LumiGain, believing this company might be providing financial services or products without proper authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_02_17_LumiGain_en.html
  • 2025-03-02 BrokersView has reviewed that LumiGain is an unregulated broker

    According to its website, it is located in the UK and Singapore. Upon investigation, no matching information was found in the Financial Conduct Authority (FCA) and Monetary Authority of Singapore (MAS). Although it mentions a certificate number on the website, after clicking it, we can find that the agency does not have the right to regulate foreign exchange. Apart from this, no valid regulatory information is provided, which is very untrustworthy.

    In addition, the Federal Financial Supervisory Authority (BaFin) issued a warning against LumiGain, believing this company might be providing financial services or products without proper authorization.

    In essence, LumiGain is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    LumiGain appears to be a scam. 

    According to its website, it is located in the UK and Singapore. Upon investigation, no matching information was found in the Financial Conduct Authority (FCA) and Monetary Authority of Singapore (MAS). Although it mentions a certificate number on the website, after clicking it, we can find that the agency does not have the right to regulate foreign exchange. Apart from this, no valid regulatory information is provided, which is very untrustworthy. In addition, the Federal Financial Supervisory Authority (BaFin) issued a warning against LumiGain, believing this company might be providing financial services or products without proper authorization. In essence, LumiGain is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. LumiGain appears to be a scam.

Related Complaints

Q&A

Should I trust LumiGain?

Luis Lin
Brazil
2025-03-17
ANSWER Dear Investor, Our investigation raises significant concerns about LumiGain's legitimacy as a trading platform. According to its website, LumiGain claims to operate in the UK and Singapore. However, upon thorough examination, no corresponding records were found with either the Financial Conduct Authority (FCA) in the UK or the Monetary Authority of Singapore (MAS). While the website references a certificate number, closer inspection reveals that the mentioned agency does not possess the authority to regulate foreign exchange activities. Furthermore, the platform provides no valid regulatory information, which severely undermines its credibility. Adding to the alarm, the Federal Financial Supervisory Authority (BaFin) has issued an official warning against LumiGain. BaFin suspects that the company might be offering financial services or products without the requisite authorization. We strongly advise against trading with LumiGain, as it exhibits multiple red flags indicative of a potential scam.
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Is LumiGain a legit firm?

Luigi O'Brien
Gibraltar
2025-03-03
ANSWER Dear Investor, LumiGain is a potential scam. The company cannot provide valid licensing information to back up its regulatory claims. It purports to be supervised by the Crypto Standards Commission, which cannot be considered an official financial market supervisory authority. The Federal Financial Supervisory Authority (BaFin) has issued a warning about LumiGain, advising investors to stay away from the unauthorized trading platform. Therefore, LumiGain is not a legitimate firm and poses substantial risks to investors. To protect your investments, it is critical to do thorough research on your chosen brokers before risking real money.
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