Many have praised LexaTrade forex broker for its speed of providing services and giving more than what is expected of it. Below are only some of the LexaTrade broker reviews written by legitimate clients on the website of TrustPilot. One of the security measures that LexaTrade has imposed for the safety of its clients is strict payment procedures. The broker only accepts one method in deposit and withdrawal processes to prevent theft. It only partners with trusted global banks in handling their clients’ funds in segregated accounts. They also implement Negative Balance Protection, which prevents each client’s funds from reaching zero.
- There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.
- Aside from throwing shades to the broker, some online client reviews also burst out that LexaTrade scammed them by not allowing them to withdraw their funds from their accounts.
- It offers a Start account, Silver account, Gold account, Platinum account, and VIP account.
- The Web platform displays 170 trading instruments, charts, and order management tools to monitor trading positions and technical adviser Autochartist effectively.
- Platform includes a customization feature that comes with listing charts and shifting time ranges.
- LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips.
Financial Instruments
Trading accounts offered by LexaTrade are categorized into different types of traders. They were set specifically for catering to beginners, intermediate, professional, advanced, and expert traders. According to LexaTrade official site, the broker provides up to five account types. These accounts come with varying features and minimum deposit requirements, allowing traders to choose the one that best matches their needs. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, including is lexatrade regulated phone line and email.
After a lengthy and extensive probe into the services and LexaTrade Forex brokers reviews, let us sum up the advantages and disadvantages of LexaTrade as a broker. “If, in general terms, the company works honestly, and I would not say that LexaTrade scammers. It is not necessary to wait for some news, and the market is moving unpredictably. The Web platform displays 170 trading instruments, charts, and order management tools to monitor trading positions and technical adviser Autochartist effectively. LexaTrade’s funding options are limited to the following – VISA/Mastercard, cryptocurrency, Skrill, Neteller, and Arangepay.
Could you please help me find out if this broker offers Islamic Accounts or they actually charge swap fees?
All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal. The overall structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform. 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. LexaTrade has often been found on the negative side of things when it comes to client reviews. Black propaganda such as scammed by LexaTrade against the broker being stirred by its competitors can be another possibility to take into account. A range of account types welcomes traders of all backgrounds and skill levels in LexaTrade.
What is the maximum deposit required for an account on LexTrade?
- Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.
- To round up LexaTrade’s trading serviceability, a broker has a decent platform and trading instrument offerings despite having relatively higher spreads.
- Let us move on to another aspect of broker review by looking into the client feedback of LexaTrade.
- LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability.
- Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.
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. This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds. Despite limited information available on the LexaTrade website, other Lexatrade broker reviews will tell you that the broker is under the Maxi Markets group.
Trading with LexaTrade lets you invest in globally-traded assets like U.S. oil, Brent, and spot gold. Company provides a brief overview of each market and a short list of assets, which clients can trade. LexaTrade wants to make sure their clients are knowledgeable about any trade before they begin. 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. LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips.
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. Clients were not even all praises in the entirety of broker’s services, leaving some room for improvement and giving us a clear indication that LexaTrade also has its shares of flaws and setbacks. However, these shortcomings are way different from allegations of fraudulent acts and schemes. LexaTrade offers trading instruments in stocks, shares, commodities, and foreign exchange markets.
This detailed review evaluates the platform’s features, trading conditions, customer service, strengths, weaknesses, and overall reliability. 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.
However, the lack of major regulatory oversight could be a concern for some traders who prioritize security and transparency. In this detailed review, we will cover various aspects of LexaTrade, including its trading platforms, account types, fees, customer support, and more. By the end of this review, you should have a clear understanding of whether LexaTrade is the right choice for your trading needs.
In terms of financial instruments, account type gives users access to forex, cryptocurrency, commodities, and limited stock assets. Knowing more about Lexatrade – its features, pros and cons, customer reviews, and legitimacy as a financial service provider by reading comprehensive LexaTrade rezension in general. Our review will provide a rundown of Lexatrade’s trading service features, conditions, and other important aspects of its brokerage service. LexaTrade BackgroundLexaTrade started its operation by just managing cash transactions in real-time trading using PAMM accounts. LexaTrade developed its own proprietary trading platform displaying a high-level of functionality, speed, and profitability.
The broker is headquartered in Saint Vincent and the Grenadines, a popular domicile to offshore brokers (since most brokers based in Saint Vincent and the Grenadines are unregulated brokers). Its first year of operation revolved around managing cash transactions in real-time trading using PAMM accounts. It then enhanced its offered trading solutions and its trading assets and instruments in the following years and groomed itself to become an emerging online brokerage brand. LexaTrade is an online financial services company thats been providing superior and transparent trading services to all traders across the world in the trading markets. LexaTrade offers diverse trading instruments such as Forex, Commodities, Indices and Shares. LexaTrade is licensed and regulated by the International Financial Market Relations Regulation Center (IFMRRC).
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The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. 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.
The amount that user will receive is entirely up to how much the new client has deposited. 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. Autochartist signals are available at the bottom of the trading platform and while this is not a game changer, it’s still something worth mentioning, especially because some brokers charge you for Autochartist.
