We offer favorable terms that allow you to take control of your money. A variety of trading tools, automatic signals about profitable transactions. Low spreads, 0% commission, bonus programs, multi-language call centre.
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. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps.
That’s especially true if the bonus goes as high as it does at lexatrade.com. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. 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.
LexaTrade Frequently Asked Questions
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. 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.
Profit with minimal risk by using all the features of the terminal. Modern high-speed trading platform, with simple trading features. Variety of trading tools, automatic signals about profitable deals.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.
We are committed to the fair handling of reviews and posts regardless of such relations. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. No, it is currently not effectively regulated and you are advised to be aware of its potential risks. A series of educational resources is available at LexaTrade, such as economic calendar, expiry date of futures, trading hours, compound interest calculator, etcetera.
The broker doesn’t hide the fact that it’s trying to goad you into depositing more. 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. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator.
But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Our team of scientists have experience and deep knowledge of Computer Security and Artificial Intelligence (AI). Furthermore, while there are some solid conditions, they all come with high price points.
LexaTrade is an offshore broker registered in Saint Vincent and Grenadines, currently has no any regulations. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in the use of our website. There are way too many categories on lexatrade.com, and navigating around the website is challenging. The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary. The same goes for visuals, as the various elements are glaringly mismatched. It looks like the broker took stock images, put them in boxes, and called it a day.
Is LexaTrade A Scam?
On our website, you can see that some users have reported scams. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
How can I recover my money from LexaTrade?
The first item to return is a withdrawal request. The withdrawal application must be submitted in writing according to the agreement provided by the Company.
Overall this is a promising broker but a few tweaks here and there would make it a better one. Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement. Also keep in mind that the company is regulated (IFMRRC), 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.
For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. 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.
Is LexaTrade a legit broker?
LexaTrade Overall Ratings = 83/100. Notice!:Trading with a non-regulated broker carries risk. It is highly recommended to Start trading with a Top Rated Broker Now!.
Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. There are also Islamic swap-free accounts and a sample trading account available. This is a fantastic service that covers all of the key markets and asset classes. lexatrade provides a detailed spread table where the clients may easily compare and inquire the spreads of different instruments in different platforms. We can see that the VIP account has the most competitive spreads.
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. LexaTrade is ambiguous about how deposits and withdrawals work, and we can only get come basic information in the refund policy page. The minimum withdrawal amount is 50 USD, and if a client withdraws the money without realizing 5 independent transactions, LexaTrade will charge a 5% fee. Currency pairs, indices, commodities, metals, energy, stocks…..LexaTrade allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on LexaTrade.
- The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
- Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions.
- As such, we can’t hold the deposit requirement for MT4 against the broker too much.
- Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all.
- 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.
- Although FMRRC is an independent self-regulatory agency which was created to provide a level of regulation for derivative dealers and brokers.
And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well.
Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together. 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. This people will lure you to come and invest with them after promising you a huge return of interest but will still held your withdrawal at the end.
The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features. As such, we can’t hold the deposit requirement for MT4 against the broker too much.
So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages.
However, the translation itself is shoddy, so the website ends up looking unprofessional. 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.
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. 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. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.
We will give you an additional $1,500 when you open a new account with $5,000. With LexaTrade online platform, you can trade and invest from anywhere on the globe using the high-tech functionality and speed of the terminal. Our company is committed to providing the best trading services and processes for our clients. We have created and implemented an online platform for easy and efficient trading.
It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. The case with its funding is much of the same, as there are some things that look good.
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. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high.
The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. That, along with the multiple phone lines, makes the broker easy to https://traderoom.info/ reach. The representatives are adept at problem-solving, so the overall communication flow is great. However, better options are present online, and it’s easy for most traders to switch.
What is the rating of LexaTrade?
LexaTrade is rated 2.4 out of 5, based on 17 reviews by employees on AmbitionBox. LexaTrade is known for Work-Life balance which is rated at the top and given a rating of 2.6. However, Salary & Benefits is rated the lowest at 2.0 and can be improved.