Unfortunately, LexaTrade forex broker does not offer a demo account, where beginners can make their first steps in trading, and professional traders improve strategies. It is not a major shortcoming, but it may, to some extent, discourage some users. 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).
How to Stay Safe Online
Other negative reviews listed on TrustPilot also detailed circumstances that unfortunately happen in markets but do not fall under broker’s control. Wondering whether Lexatrade scammers or not, let’s analyze its services and development level. When it comes to platforms, broker LexaTrade ensures clients enough options to choose from. This is why aside from MetaTrader4 and XCritical, they’ve also developed a platform to embody important qualities and characteristics. 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.
On top of these account types, a Demo Account is a good way for novice traders to test the trading environment and platforms of LexaTrade. It must be stressed that all LexaTrade reviews above were taken from existing, legitimate review sites. We listed lots of them not to confuse traders but to give a weighted and fair viewpoint on the brokerage. As this is the case, the traders are advised to take all claims quoted here with a grain of salt. Despite all reviews, it is strongly recommended to make decisions and build a strategy independently.
Thoughts on “LexaTrade: Dispelling Libel Against an Honest Broker”
LexaTrade offers a competitive range of trading instruments and features, making it a suitable choice for both beginner and experienced traders. 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. However, the lack of major regulatory oversight could be a concern for some traders who prioritize security and transparency.
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One of the best services provided by LexaTrade is its trading platform, which was developed to incorporate unique features of the broker better. But other than that, LexaTrade also offers the MetaTrader4 and XCritical mobile app. To ensure the security of their clients’ funds, LexaTrade implements strict payment procedures. The client’s depositing method must also be used when withdrawing funds to prevent financial theft. This is also a great security measure against online hackers who transfer client’s funds into their bank accounts and withdraw the money.
Silver Account
However, better options are present online, and it’s easy for most traders to switch. 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.
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.
One look at its own Facebook page is enough to have you running in the other direction. The personal posts on LexaTrade’s timeline range from the banal and straightforward to the detailed and educated would leave a bad taste in your mouth. It contains no legitimate grounds or even constructive criticism about brokers. It plainly claims that this broker is something else without any proof.
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. With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. Don’t worry about it, because you can’t make a big profit in Forex trading without investment.
It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies. As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. Lexatrade claims to prioritize the safety of its client’s funds. But we are skeptical about most activities and claim made by LexaTrade.
How does the scam unfold?
- LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions.
- We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage.
- The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
- Rates, terms, products and services on third-party websites are subject to change without notice.
- However, these shortcomings are way different from allegations of fraudulent acts and schemes.
I have been working with LexaTrade broker for six months now. I learned about it much earlier, but I came across negative info. I read in comments on one forum the information «LexaTrade scammers», fraud, etc.
- They also implement Negative Balance Protection, which prevents each client’s funds from reaching zero.
- Honest companies openly write about interest, spread size, minimum deposit, etc.
- It seems like the website wasn’t designed in English, but rather translated from another language.
- That being said, caution should be used anytime money is involved, with all brokers, old or new.
The mobile app also lexatrade review provides brokers with the current account balance to easily check and replenish it when needed. 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.
Either balance gets zero or unable to withdraw funds due to invalid reasons. But Lexatrade is severing the whole world through its website. It is registered in Saint Vincent and the Grenadines which makes no sense. At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. 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%).
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. Collaboration of LexaTtrade with social networks proves that the company is reliable and tries to save trader’s money.
Take charge of your finances with our attractive conditions tailored for your success. Our cutting-edge trading platform boasts high-speed capabilities and user-friendly features for an enhanced trading experience. Benefit from Autochartist technology for market analysis and enjoy personalized assistance from dedicated account managers. Access a wide range of trading tools, including automatic alerts for lucrative opportunities. With enticing bonus programs, minimal spreads, and zero commission fees, our multi-lingual support team is always ready to help you.
