Lumen Securities review

Lumen Securities feels like a fintech app first and a broker second, in the best sense: onboarding takes minutes and the pricing is about as low as regulated equity trading gets.

Who it suits

Investors in Asia-Pacific who want US and regional stocks without paying per-trade commissions, and who are comfortable doing everything on a phone.

Costs in practice

US trades are free; exchange and regulatory fees are passed through at cost. Asian markets carry a tiny percentage fee. Currency conversion is 0.2%, competitive for the region.

Platform and tools

The app includes an options chain, a stock screener, earnings alerts and a paper-trading mode. Level-2 data is a paid add-on.

Safety

As a MAS capital-markets licensee, Lumen must keep client money in trust and file audited reports. Securities are held in omnibus accounts at a top-tier custodian.

Fees at a glance

Summary	US$0 commission on US stocks, 0.03% on HK/SG
Spread from	n/a (exchange-traded)
Commission	US$0 (US), 0.03% min US$1 (Asia)
Inactivity fee	None
Withdrawal fee	Free
Minimum deposit	None

Regulation

Regulator	Jurisdiction	Licence
MAS Monetary Authority of Singapore	Singapore	CMS000000 (sample)
ASIC Australian Securities and Investments Commission	Australia	AFSL 000000 (sample)
SFC Securities and Futures Commission	Hong Kong	CE 000000 (sample)

Always confirm the licence on the regulator's own register before depositing. Here is how.

Features

• ✓ Demo account
• — Copy trading
• ✓ Fractional shares
• — MetaTrader 4
• — MetaTrader 5
• — TradingView
• — cTrader
• — Swap-free account
• ✓ Interest on cash
• ✓ Savings plans
• — Trading API
• ✓ Options trading