It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market. 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.
While there is nothing wrong with volatility, you need to keep an eye on the news in order to make the best out of the situation. A web-based proprietary platform that lets traders experience advanced trading. LexaTrade offers a variety of trading platforms according to the trader’s needs.
ACCOUNTS OFFERED BY LEXATRADE
Despite this, it is an off-shore broker restricted to operate in the US and Europe. So don’t use this platform and research well before choosing a such platform. A web-based proprietary platform is offered by LexaTrade, such as MetaTrader4 and LexaTrade
app – xCritical Mobile App.
LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience. It is compatible with all major web browsers and enables traders to execute various types of transactions. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds.
- It seems like the website wasn’t designed in English, but rather translated from another language.
- The broker doesn’t hide the fact that it’s trying to goad you into depositing more.
- We aren’t the biggest fan of the huge jumps between the sums you need for different account types.
- However, much information regarding the same is unavailable on its website.
It lowers risk diversification as well by investing in the basket of different stocks of various companies and sectors. LexaTrade offers several trading instruments to choose from, with high leverage and low spreads for high liquidity and profits. Deposits are processed immediately, ensuring that you have access to your funds whenever you need them for trading. However, withdrawals may take a bit longer, usually about 3-5 business days to process. This is to provide the necessary time for necessary transaction procedures. And that’s without mentioning our hunch that the broker isn’t entirely honest.
This includes video courses and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs. Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform. Lexatrade ensures high-grade security measures for all the services it provides, to secure client’s funds. Furthermore, while there are some solid conditions, they all come with high price points. And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better.
HOW TO OPEN AN ACCOUNT ON LEXATRADE?
Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries. If you’ve been following our detailed Lexatrade review 2023, you have likely noticed the platform has not much to offer to its users. The broker set up strict payment procedures for the safety of the trader’s funds and to prevent financial theft. The broker even partners with reliable and trusted international banking institutions while steering their corporate funds.
As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges. The genuine features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs.
What Trading Platforms Are Available On LexaTrade?
Hence, it is of primary importance for a forex broker to assert its legitimacy through its regulatory certifications. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. The broker offers 5 primary account types, catering to the needs of every sort of trader. The minimum https://cryptolisting.org/blog/is-there-any-distinction-between-net-current-value-and-discounted-money-move deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. It is regulated by the International Financial Market Relations Regulation Centre, making it a reliable broker in the forex market. The broker offers different types of accounts to its clients for better trading experience.
The financial products offered by the companies listed on this site pose a high risk and can lead to the loss of all your funds. When trading stocks, CFDs, or other derivatives, consider whether you understand the function of differential contracts and be aware of the high risk of losing your funds. After analyzing the detailed LexaTrade review, we can say the company is totally a scam.
The broker’s offer does actually seem decent enough, but the presentation isn’t up to par. We’ll see if the broker’s functional prowess ends up improving what we think. The company charges a service charge of 5% if users make less than 5 independent transactions. In order to attract more traders on the platform, LexaTrade often starts promotions. There is not a single complaint regarding the same, so, we can rate it good in this case. The broker’s low user ratings of 2.1, which shows the platform’s low credibility.
Just click on the button below to get in touch with an expert or use our online chat (it’s better to use it if you lost more than $5000). Bonus amounts are great when it comes to enhancing your capital, but for the best experience, it should be used with caution. The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam.