Any rates, terms, products and services on third-party websites are subject to change without notice. For those considering trading with Lexatrade, it is advisable to start with a small investment and utilize risk management techniques. However, if you are risk-averse or require a higher level of regulatory protection, it may be prudent to explore alternative brokers with more established reputations and regulatory oversight. Some recommended alternatives include brokers regulated by the FCA or ASIC, which provide a higher level of investor protection and transparency. In conclusion, while Lexatrade presents itself as a legitimate forex broker, several red flags warrant caution. The lack of robust regulation, mixed customer feedback, and potential hidden costs suggest that traders should approach this broker carefully.
Company Overview
Bonus is guaranteed and will be processed speedily by LexaTrade. The LexaTrade forex broker ensures their clients the best trading experience, offering various benefits and bonuses throughout the year. But most importantly, these benefits are immediately laid out for new clients. I have been trading on the market for 5 years, of which almost 2 years on LexaTrade. Each broker must have regulations for each country where it offers trading. Lexatrade broker offers trading worldwide but doesn’t have all the licenses to do so.
Silver Account
Having said this, the LexaTrade user and the reader of review are recommended to practice greater regard on research and due diligence. Such can be observed through actual conversations through the forums or actual face-to-face communication. Of course, these individuals should have an actual live LexaTrade account they have used for a considerable period of time. As of could have told early that this is the way in forex trading would have never gone…. MT4 platform (though irrelevant with an unregulated broker) However, due to their unregulated nature, even these methods might not be secure, and recovering funds becomes challenging in case of a scam.
- Stay up to date with the financial markets everywhere you go.
- These statements have no legitimate grounds and are clearly libelous.
- Currently, the broker has over 200 trading instruments offered to its traders.
- Information is given in various tabs, and traders can access it from the website’s top menu.
- To sum up – I recommend trading on the LEXATRADE platform.”
LexaTrade imposes high-grade security measures across all its services. It ensures clients’ protection from cyber theft and market risks because they are very common in trading. Clients have also praised its safety and convenience, among all other qualities.
Stocko Review
LexaTrade supports various payment methods, including credit/debit cards, bank transfers, and popular electronic payment systems. Deposits are usually processed quickly, although processing times may vary depending on the chosen payment method. Choosing the appropriate account type depends on your trading goals, capital, and experience level.
Is Lexatrade A Scam？
- Overall, the website is satisfactory and provides all details about trading services.
- Users can quickly navigate around and find all the details needed to understand what the broker has to offer.
- If you are a victim of such practices, it is crucial to immediately stop depositing any more funds and report the situation to your local authorities.
- The company has even developed its own platform to carry the brand and quality of services expected of LexaTrade.
- The first step to trading on LexaTrade is opening an account.
The broker provides a decent and fair set of trading conditions coupled with some advanced trading tools and platforms. They also provide traders the optimal opportunity to learn the basics and complexities of trading through different educational resources. Apparently, these customer LexaTrade reviews clearly reflect the broker’s honest and quality trading services, contrary to some maligning customer reviews that try to dent broker’s reputation. These clients are proof enough that LexaTrade is far from what others think about the broker and its services. However, these shortcomings are way different from allegations of fraudulent acts and schemes.
LexaTrade Services
Clients are encouraged to participate in an event, and LexaTrade provides a list of the best stocks to invest in. Along with the list of tradable stocks, LexaTrade also posts stocks’ previous revenue, forecasted price, and timeframe on when to trade it. This way, all traders can prepare their positions ahead of time. For starters, LexaTrade has a “Refer a Friend” program, which allows an existing client to benefit from sharing the services of LexaTrade to friends and fellow traders. A program entails any existing client receiving 50% of the deposited amount of any new trader they’ve successfully encouraged to sign up with LexaTrade. The amount that user will receive is entirely up to how much the new client has deposited.
Risk Warning:
Other negative is lexatrade legit reviews listed on TrustPilot also detailed circumstances that unfortunately happen in markets but do not fall under broker’s control. Being a global broker, LexaTrade has earned the praises of its clients and the ire of its detractors. Many critics have praised this broker for several reasons, while a select few spread libelous claims to destroy its reputation. Commodities are viewed as steady, long-term, highly profitable investments. Commodities being long-term investments means that they must be carefully decided. Broker LexaTrade ensures that its 24-hour client service team provides the best support to traders.
Did You Lose Money to LexaTrade?
Traders can also easily track the movement of market prices and get timely feeds of current forex forecasts through the functionality of XCritical mobile apps. Since the functions of the platform are separated, traders can also open and close transactions without delay and set Stop Loss and Take Profit quickly. The mobile app also provides brokers with the current account balance to easily check and replenish it when needed. LexaTrade markets itself as a user-friendly platform designed for both beginners and experienced traders. The platform also offers different account types, each catering to various levels of trading experience. The strongest suit of LexaTrade is its quality services, which were noted multiple times by traders in LexaTrade broker reviews.
The company began its work by managing cash transactions in real-time trading using a PAMM account. As of November 2019, more than 2,000,000 merchants from all over the world are using the services of a broker. Forex broker LexaTrade site offers traders to open Start account with an initial deposit of $ 100, which is a fairly advantageous offer compared to other brokers. To make it easy for merchants to conduct financial transactions, developers created a convenient interface and an affordable system. Aside from Web platform, LexaTrade also offers another powerful XCritical trading platform. The XCritical mobile app has an intuitive and simple interface that easily helps traders navigate the platform.
Lexatrade’s website lacks comprehensive information about its ownership structure and management team, which can be a concern for potential investors. Without clear disclosure of who runs the company, traders may feel hesitant to entrust their funds to Lexatrade. LexaTrade does not keep trader funds in segregated bank accounts, which is a major security flaw and makes the broker very unreliable and risky. LexaTrade claims to be an online brokerage offering access to various financial instruments such as forex, indices, and commodities.
The most significant advantages of gold accounts are reduced spreads and the possibility of passive earnings. Stay up to date with the financial markets everywhere you go. LexaTrade is the website name and trading name of Swissone Group Ltd, which is registered in several offshore jurisdictions. The broker is not regulated by the local authorities in offshore countries it is registered. It is only registered in Saint Vincent and the Grenadines and the Marshall Islands. Overall, the website is satisfactory and provides all details about trading services.