It permits them to trade safely with its technology without any need to download and install it on the trader’s PC or mobile device. Traders who have reached this state have more points, trade without restrictions on the number of transactions, have access to funds, and have the opportunity to defer payment. We provide broker reviews and ratings to help users find a suitable broker according to their own needs.
- Basing decisions through mere online research may prove fruitless should it not be backed up by actual diagnosis of the broker’s offers and services.
- LexaTrade offers diverse trading instruments such as Forex, Commodities, Indices and Shares.
- By the end of this review, you should have a clear understanding of whether LexaTrade is the right choice for your trading needs.
- The spreads vary on the account type and the instrument traders trade in.
Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Whilst we try to keep information accurate and up to date, things can change without notice and therefore you should do your own research. 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.
Is this your company?
Clients are encouraged to participate in an event, and LexaTrade provides a list of the best stocks to invest in. Along with the list of tradable stocks, LexaTrade also posts stocks’ previous revenue, forecasted price, and timeframe on when to trade it. For starters, LexaTrade has a “Refer a Friend” program, which allows an existing client to benefit from sharing the services of LexaTrade to friends and fellow traders. A program entails any existing client receiving 50% of the deposited amount of any new trader they’ve successfully encouraged to sign up with LexaTrade. The amount that user will receive is entirely up to how much the new client has deposited.
Account Types
After few weeks i got call & said we will recover all you money & for that they give me some credits & with help of that credits my ac agind reach to $1800. But after that they start again force me to deposte $1000 but i said let me give frst my initial capital of $250. I stongly recoonamd everyone to dont waste money with this fraud company. The review site, “The Forex Review”, is the site that has been able to give many details.
Lexatrade is a scam
Lexatrade ensures high-grade security measures for all the services it provides, to secure client’s funds. In conclusion, while the promise of easy trading may be tempting, LexaTrade is fraught with risks that make it unsuitable for investors who prioritize security and legitimacy. Given the abundance of warning signs, potential investors are advised to avoid LexaTrade. Numerous reports indicate that this platform may be a scam, with serious issues related to funds accessibility, aggressive tactics, and regulatory opacity. For those looking to enter the trading market, many reputable and transparent platforms offer safer and more secure services.
The links that were included in the quoted testimonies will direct the readers to actual existing, live, and legitimate sites. I have been trading on the market for 5 years, of which almost 2 years on LexaTrade. It uses a license from a regulated company (they almost have the same name) or gives a invalid license number. Also pay attention to licenses from offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines but isn’t just these fraudulent countries, there are several. We had ensured a pointed evaluation through its employ of all functions of the LexaTrade official site.
To make it easy for merchants to conduct financial transactions, developers created a convenient interface and an affordable system. XCritical is lesser known to traders than MT4, but this does not make it inferior in providing quality services. Also, a mobile platform is far more accessible and convenient than any other platform, which means traders can trade anytime and anywhere without the hassle. Aside from trading, clients can open positions, manage their account, and execute trades without delay.
If one is to base off of impressions, the negative issues thrown at it can easily be chalked up to the LexaTrade user’s complete ignorance of how the trading industry works. The account structure lexatrade reviews is straightforward, but the high minimum deposits for premium accounts may deter small-scale traders. Additionally, spreads on lower-tier accounts are uncompetitive compared to industry standards. In terms of security, LexaTrade uses SSL encryption to protect sensitive data, which is standard for most brokers. This encryption ensures that your personal and financial information remains private when making deposits, withdrawals, or logging into the trading platform. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.
Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. If, in general terms, the company works honestly, and I would not find any illegal actions. It is not necessary to wait for some news, and the market is moving unpredictably.
- The company began its work by managing cash transactions in real-time trading using a PAMM account.
- Therefore, we do not recommend you to invest money with LexaTrade.
- After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds.
- You should also contact your bank as soon as possible and let them know about your issue.
- However, fees and spreads may vary depending on the account type and the asset being traded.
Trading Conditions and Fees
These statements have no legitimate grounds and are clearly libelous. It does not provide any evidence that he was scammed by LexaTrade, or any idea of problems that Urbanek has encountered with the broker, hinting at the probability of reviews illegitimacy. False statements like these are easy to create but have a dangerous impact on the broker’s reputation.
Having said this, the LexaTrade user and the reader of review are recommended to practice greater regard on research and due diligence. Such can be observed through actual conversations through the forums or actual face-to-face communication. Of course, these individuals should have an actual live LexaTrade account they have used for a considerable period of time. The educational resources are useful for beginners but lack depth for advanced traders seeking sophisticated strategies or detailed research. In legitimate platforms, fees are typically clear and transparent from the beginning.
Customer Support
However, the lack of major regulatory oversight could be a concern for some traders who prioritize security and transparency. 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). With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns.
TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Trading and investing in financial instruments comes with a high degree of risk and you can lose money.
While LexaTrade reviews may be considered to topple the negative bandwagon against forex broker, it does not change that all reviews found online are polarizing and altogether divisive. The Investing Brokers team have over 15 years of experience in the online brokerage industry and are committed to providing reliable information for all of the brokers that we review. While the broker claims to offer reliable support, user feedback often highlights delayed responses and unhelpful interactions, particularly for withdrawal-related issues.
Below are only some of the LexaTrade broker reviews written by legitimate clients on the website of TrustPilot. These patterns align with other known scams in the financial sector, where similar methods are used to extract and retain funds from investors without delivering on the advertised services. The provision of these platforms by the brokerage are seen as lucrative measures for each trader who chooses to open a live account with a broker. Even in case of LexaTrade’s proprietary platform absence, MT4 and the xCritical Platform are already enough to turn any trading endeavour into a profitable activity. Users advise LexaTrade to review their minimum deposits against the offers found in each of their trading accounts. Basing decisions through mere online research may prove fruitless should it not be backed up by actual diagnosis of the broker’s offers and services.