Lexatrade Reviews 30 Reviews of Lexatrade com

Lexatrade Reviews 30 Reviews of Lexatrade com

It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies. Within a few years of its establishment, LexaTrade expanded its services to different countries around the world. There are way too many categories on lexatrade.com, and navigating around the website is challenging.

Any rates, terms, products and services on third-party websites are subject to change without notice. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. That’s especially true if the bonus goes as high as it does at lexatrade.com. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.

It highlights intuitive tools, automated trading strategies, and the potential for high returns with minimal effort. LexaTrade offers competitive spreads, with forex pairs starting from lexatrade review around 1.5 pips. However, fees and spreads may vary depending on the account type and the asset being traded. The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets. One of the first things traders look for when choosing a broker is regulation and security. Regulation ensures that the broker adheres to strict financial rules and guidelines, which ultimately protects traders’ funds and personal information.

Lexatrade’s Trading Platform

The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Currently, LexaTrade is not fully regulated by major financial authorities such as the UK’s FCA or the US’s CFTC, which is a significant factor to consider when assessing its reliability. The lack of regulation from a reputable body means that traders may not have the same level of protection that comes with using a fully regulated broker.

Customer Service at Lexatrade

The company charges a service charge of 5% if users make less than 5 independent transactions. The deposits are processed instantly, while withdrawal may take up to 3-5 business days. The broker’s low user ratings of 2.1, which shows the platform’s low credibility. Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center.

LexaTrade Scam Indicators: Pros and Cons Recap

• The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review.
• Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities.
• They specialize in assisting victims of online trading scams recover their stolen funds.
• One of the primary concerns with LexaTrade is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others.
• The broker doesn’t hide the fact that it’s trying to goad you into depositing more.
• Scammers employ persuasive tactics to convince you to make an initial minimum deposit.
• On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker.

So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability. The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall.

Trading Instruments

EvenInsight.com is a venture of Even Insight Technology and a website for cyber security and analysis. With the collaboration of multiple security partners, EvenInsight provides the detailed evolution of each website which empowers users to identify potential scams. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. While the first account is cheap, lexatrade.com also robbed it of most features. As such, we don’t think you can get a competitive trading service up until the $10,000 account at least.

The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies. That, along with the multiple phone lines, makes the broker easy to reach. The representatives are adept at problem-solving, so the overall communication flow is great. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Several red flags have emerged from user experiences that cast doubt on LexaTrade’s legitimacy, making it essential to understand these warning signs before investing any money.

As a relatively new broker, LexaTrade aims to build a reputation based on competitive pricing, high-quality customer service, and an intuitive user interface. However, as with all newer brokers, it’s essential to exercise caution and thoroughly assess its features and regulations. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.

LexaTrade Review: Key Insights, Platform Performance & Is It Right for You?

• There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.
• Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction.
• The platform’s user-friendly design, multiple account options, and access to popular trading platforms such as WebTrader and MT4 make it an attractive option.
• LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients.
• After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds.
• That means the accounts suit most strategies, and as such, can attract diverse groups of traders.

A mobile platform is available but Demo accounts are not; US traders are not accepted. This Bill will help to deliver fairness for both hospitality venues and their customers in this area, and we look forward to working with Government to achieve this. Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities. Managing financial firms approved or enrolled by legal authorities gives you more prominent assurance assuming things turn out badly.

Swap Fees:

One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. And if you’re unfamiliar with what IFMRRC is, we don’t blame you. Although we do daily broker reviews, we’ve never heard of it before.

Even i have raised my concerns in their portals but no actions were taken. As per the whois data, the domain Lexatrade.com was registered in September 2018, and according to similar web data it has around 13k monthly traffic from Kenya (60%) and India (26%). Of course, the broker has options for downloadable terminals, web platforms, and mobile apps.