Lexatrade Forex Broker: User Reviews Collected and Summarized

lexatrade review

Fortunately, client support is still available for everyone on the platform, regardless of their status. So, if you have a question or a problem, you can contact the support and they’ll most likely help. The only thing you won’t be able to do unless you sign up for a better account type is the help from analysts. Lexatrade has quite a few impartial reviews, but it’s important to remember that it’s also a fairly small broker, at least compared to the established leaders in the industry. It allows Lexa to do their own thing without bearing too much responsibility on their shoulders.

lexatrade review

I’m buying and lexatrade rezension selling with this dealer a pair years and I never heard a single story like this. However, they also rarely forbid the majority of their users from using other https://forex-review.net/lexatrade/ software if they feel like it. Nevertheless, it’s strictly stated that you can’t use MT4 (and it’s the only third-party piece of trading software you can use) unless you pay Lexa more.

The user rating

LexaTrade is a financial solutions platform developed by Swissone Group Ltd. Its head office is located in St. Vincent and the Grenadines, a small island in the Caribbean known for its offshore status. With the absence of financial authorities, clients’ funds are exposed to intensive risk, say, for example, LexaTrade decided to shut down its business. The users who use it claim it’s a very good broker with responsive teams of support and clean reputation. But the wider community tends to disagree – there’s a lot of points that simply can’t help but attract criticism.

To neutralize the backlash that LexaTrade faces, attached below are two positive reviews taken from the web. Similar to other brokerage firms, LexaTrade has its own set of benefits and setbacks. Lexatrade is registered on the New Grenadines – a very popular off-shore location, especially for brokers. Being registered in the tax-free location also means your company won’t be regulated by the trusted financial establishments.

Subscribing to LexaTrade Forex Broker

Withdrawals are processed throughout regular Cyprus office hours and there’s a minimum withdrawal amount of $10. As is the case with deposits, the time that this takes relies on the tactic that is used. We would recommend that you just do your main buying and selling on the LexaTrade webtrader or the MT4 platform. If you need to monitor your positions on-the-go then you’ll be able to all the time check in on the mobile apps. It’s pretty comfortable to work here, barring all the treatment the lower account types have to put up with.

Retired government officer lands in web of trading fraud, loses Rs 2.5 crore – Times of India

Retired government officer lands in web of trading fraud, loses Rs 2.5 crore.

Posted: Thu, 06 Apr 2023 07:00:00 GMT [source]

And speaking of tighter spreads, they really are low on this platform. At a first glance, there are many potential flaws and perks, but you can’t really tell how they play out unless you try this platform for yourself. But then, if you chose poorly, you can lose your money to an untrustworthy broker.

LexaTrade Review 2020

This review will list a few of the major points of criticism and tell you why they may or may not be the sources of worry. They also give you all the information they can about the way your transfer will go. The support itself is also 24/7 and multilingual, which is a very nice touch, considering they are mostly very restrictive about everything.

  • Note, however, that the broker asks for different deposits according to which account clients will open.
  • Nevertheless, it’s strictly stated that you can’t use MT4 (and it’s the only third-party piece of trading software you can use) unless you pay Lexa more.
  • So trade historical past can be checked wherever a trader could also be.
  • You should contemplate whether or not you’ll be able to afford to take the excessive danger of losing your money.

The impartial user reviews from the dedicated aggregators can tell you precisely what to watch out for and what to aim for on any exchange. Fortunately when you have been scammed by LexaTrade, you could have where to show to get your money back. We’ve been extraordinarily successful in recovering a refund from firms like LexaTrade. In the past, the corporate used to incentivize its customers by providing them the so-known as “LexaTrade Bonus”. This implies that purchasers virtually obtained free money for trading, which might later incur commission fees. With LexaTrade, you not only get skilled assist, but you also get private assistance.

Lexatrade Forex Broker: User Reviews

Different reviews (including those written by the regular users) suggest Lexa is pretty safe – both from hackers and from inner fraud. However, there are several points that indicate that you still shouldn’t trust this broker completely. There are many other brokers that allow you to trade in all sorts of assets without confining you so harshly. It’s true that low spreads and good general performance do compensate for these limitations a bit, but you can only really trade here if you can trust the broker.

Interested parties need to visit the broker’s official site and from there, they will immediately find the registration button. After clicking, it will be redirected to a form, which needs to be completed. It requires all the necessary information including name, email, address, and telephone number. Many brokers have their own in-built exchanges and interfaces – they generally look neat and better correspond with the environment on the exchange.

Lexatrade Forex Broker: a Critical Review

Being a profitable subject, it has given rise to lots of frauds within the making which are promising traders with high returns which are greater than the average lot. This review was written to shed a light to some of the allegations about LexaTrade’s legitimacy. As the brokerage firm constantly faces negative feedback from its clients, it is necessary to conduct a thorough discussion of its services, offers, and overall functionality. More so, this latest addition to a bunch of Lexatrade reviews aim to bring clarifications to tags on the internet such as LexaTrade scam, LexaTrade scammers and LexaTrade cheating.

  • This implies that purchasers virtually obtained free money for trading, which might later incur commission fees.
  • It is equipped with powerful instruments for encompassing and holistic trading experience.
  • While this may seem unfavorable for clients looking for well-regulated brokerage firms, it can be concluded that LexaTrade is still a decent broker.
  • After setting this up, the information will then be subjected to verification.

You additionally get entry to some educational resources, including one primary lesson, every broker forex day market report, trading central, and two every day TC SMS alerts. When it involves webinars, this is the only tier that doesn’t offer any. Whether you are a novice or knowledgeable dealer, you will feel at residence buying and selling with LexaTrade. True enough, IFMRRC does not hold the prominence that other well-known regulators have. While this may seem unfavorable for clients looking for well-regulated brokerage firms, it can be concluded that LexaTrade is still a decent broker.

Regardless, we still have to consider the legal documentation presented in its official site. With license from IFMRRC, clients are ensured that all operations are legally binding and conducted under legitimate terms. Certainly, they don’t only differ based on the amount of money you need to trade. There are certain bonuses and restrictions which you can see by scrolling further down. What you’ll see is that Lexa heavily restricts pretty much everyone below the Gold status.

Yet still, there are many exchanges and brokers that give you just as comfortable an experience without making you pay extra. So trade historical past can be checked wherever a trader could also be. It is a slick trading app and is a superb addition to the vary of features provided by the model. It has been created with the dealer lexatrade reviews in mind, but has been thoughtfully developed to ensure it offers a full range of functions across a number of units. XCritical- Another external platform that LexaTrade offers is the xCritical system.

See how LexaTradepares to the highest choices platforms by reading one of the evaluations beneath. While LexaTrade is equipped with impressive advantages, it still faces negative reviews. This may be from the company’s financial malpractice or maybe from competitors’ interest to drag LexaTrade down.

Between seventy four-89% of retail investor accounts lose cash when trading CFDs. You should contemplate whether or not you’ll be able to afford to take the excessive danger of losing your money. We offer the newest information in addition to comprehensive guides and broker reviews. The Basic account provides you floating spreads as low as 2.5 pips for EUR/USD, and a couple of.eight for GBP/USD and USD/JPY.

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