On request for withdrawal of USD 400, I was advised to open a del in sell segment of Natural Gas with USD196 than my entire balance gone negative. Even the personal manager engaged for help do not bother for small traders. Based on this user feedback, it appears that LexaTrade is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform.
The review site, “The Forex Review”, is the site that has been able to give many details. Not everything you see on the world wide web is credible. The online community is replete with lies and fabricated news for what its worth.
Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. Lexatrade claims to prioritize the safety of its client’s funds.
LexaTrade Negative Reviews
The minimum deposit at LexaTrade is $250, a slightly higher in this competitive world, with many offering accounts opening at $0. And has global presence with headquarters at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and Grenadines. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. Be careful and verify your information through multiple sources. Constant vigilance should be applied at all times when trying to invest in trading platforms.
- LexaTrade platform gives its clients the capability of fixing profits and limiting potential losses in a timely manner.
- As we have established in this review, LexaTrade has no license to act as broker in any country.
- You are asking yourself questions such as “is this website legit?
- All information should be revised closely by readers and to be judged privately by each person.
- Choosing an online broker like LexaTrade can be difficult.
In addition, client funds will be protected in the unlikely event of a bankruptcy or financial dilemma of LexaTrade with the Financial Services Compensation Scheme of up to £ 85,000. For what it’s worth, the internet community is rife with lies and falsified news. The term „Fake News“ has been splattered on the online Metropolis for a reason. No, it is currently not effectively regulated and you are advised to be aware of its potential risks.
How Long Does It Take To Withdraw Money From LexaTrade?
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. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account.
However, zero fees on the trades is still the USP of the platform. If someone knows how to trade profitably, they either trade for themselves or run an investment company. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud.
Lexatrade scammers You can use many options for deposit and withdrawal, and they’re all free of charge. We got relevant and fast answers both on the telephone and by email. The live chat agents are also helpful and give relevant answers, however, response time was slower. The broker offers a dedicated section for research support, namely Traders Centre. Under the section, you’ll find a long list of advanced trading tools, which can help you trade more efficiently.
As with the other brokerage firms within St. Vincent and the Grenadines, there is no trail of evidence of LexaTrade‘s regulatory body. This is so as the region’s local government does not have any provisions for regulating Forex trading activities. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages.
What Trading Accounts Are Available At LexaTrade?
Lexatrade offers full-time support with 24/7 operating hours. 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. 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. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows.
Each broker must have regulations for each country where it offers trading. Lexatrade broker offers trading worldwide but doesnt have all the licenses to do so. We had thought it best to quote them directly here for the readers to see. Trading is a high-risking activity, and each trader decides himself how to interpret information. Keep reading to know what the online trading community thinks about the Lexatrade broker.
I would have been in a big mess if I had not met Mr. Tony Luis ( ) personal email, I wish to recommend Mr. Tony to anyone in recovery of loss. He saves me and I believe he can also save others who have run into loss. Read here the reviews of customers, view the contact information of the webshop & see if they are legit. All of our reviews are based on research carried out by professionals.
How To Delete LexaTrade Account?
The spread varies depending on the account type and the financial instrument being traded. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country https://cryptolisting.org/ and region where they are located. I consider LexaTrade a reliable and conscientious company. In all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course there are questions, but after correspondence with tech support everything is successfully resolved.
Bear in mind when considering forex trading, as we approach the U.S. election uncertainty, fiscal and monetary trends will significantly affect the dollar and global exchange rates. 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.
The broker is also attracting new traders using a 30% deposit bonus. Remember to read the terms and conditions for accepting and using deposit bonuses with brokers. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. The charges are comparatively higher than the platform we have reviewed so far.
But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. It opened just earlier this year and has attracted a good bit of attention as such.
Some even suppose it comes to par with industry favourite, MetaTrader 4. Through its mobile platform, an expansive set of tools available through its PC version are mirrored effectively. These tools include a number trading signals and a highly-intuitive is lexatrade legit and neat interface. Users advise LexaTrade to review their minimum deposits against the offers found in each of their trading accounts. Now, given the figures disclosed through the parentheses, it is easy to be turned off by the brokerage.
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.