16 Mar

LexaTrade review

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 . Yes, trading with Lexatrade is a fraud/scam cheating making fool of small investors/traders by misguided by the staff insisting for more money deposit for stock trading. Today my balance was USD821 and free Balance was more than USD550. 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.

The cheapest option is $250 while the most expensive is $100,000. Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement.

LexaTrade began by managing cash transactions in real-time trading using PAMM accounts. Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand. I have just started, so far I am good with the trading tools. Haven’t had withdrawal yet but based on observation, brokers are skilled and easy to deal with. And that’s without mentioning our hunch that the broker isn’t entirely honest. Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there.

If you are already in it, you can get help from LFr es cue • org let’them guide you! Brokers required various licenses and regulators’ approval to serve investors and traders. But LexaTrade is not even registered as a legal company.

lexatrade review

Even the withdrawal speeds increase as you go up to the higher accounts. And without the broker specifying the times, who knows how long it might take for you to get your money. A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews.

Regulation

A mobile platform is available but Demo accounts are not; US traders are not accepted. 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. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.

lexatrade review

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 has a referral program in which you’ll receive up to 50% deposit amount as a commission. Lexatrade claims to prioritize the safety of its client’s funds. But we are skeptical about most activities and claim made by LexaTrade.

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. I registered with them by depositing $250USD and play couple of trade and earned $236usd. They tell me rubbish rules which they did not inform at the time of joining. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. 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 Bonus

At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny. N even u earn or make money from this platform, they will not let u withdraw money till u lose all ur money… There r lots of if n buts wen u wish to withdraw. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points. As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions.

lexatrade review

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. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.

Start

But on a hunch, we wouldn’t call the security excellent. 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. 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. I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade.

  • All Ip’s are checked and marked for further inspection.
  • It is registered in Saint Vincent and the Grenadines , a kingdom of thousands of shell companies.
  • A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews.
  • I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade.

So don’t use this platform and research well before choosing a such platform. We are back with our unbiased review of LexaTrade, an online trading broker company. 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.

Even the personal manager engaged for help do not bother for small traders. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do lexatrade review advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. The broker doesn’t hide the fact that it’s trying to goad you into depositing more.

This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. Also keep in mind that the company is regulated , which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program.

I have been working with Lexatrade since the summer and have withdrawn money 3 times during this time. I did not notice any problems with this broker, with the exception of sales managers. In a few weeks, we managed to increase the deposit by 15-17%. This is taking into account my caution, I don’t buy everything in a row, I carefully https://forex-review.net/ monitor the news. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

Fortissio Broker Review

And even then, you only get the web version, and you need the $50,000 account for the full unlock. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade. 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.

Review of the Day

Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. However, for a newer trader, the website may look too daunting. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there.

As such, we can’t hold the deposit requirement for MT4 against the broker too much. But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. As such, our Lexatrade review isn’t off to the greatest start.

The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. Lexatrade is a scam company and it is going to close sooner.

IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. The technical storage or access that is used exclusively for anonymous statistical purposes.

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