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LexaTrade: Getting Into the Meat of an Honest Broker

Additionally, there have been reports of customers experiencing difficulties when attempting to withdraw funds, along with allegations of fraudulent practices. These factors contribute to a higher level of risk and suggest caution when considering LexaTrade as a brokerage option. At first, I liked that the broker has a wide choice of accounts and has educational material.

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Don’t worry about it, because you can’t make a big profit in Forex trading without investment. 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.

Thoughts on “LexaTrade: Getting into the Meat of an Honest Broker”

That being said, they are very new at the time of this review, so there is time for improvement. There are also Islamic swap-free accounts and a sample trading account available. You can also select the regulator with which you want to trade. This is a fantastic service that covers https://forexhero.info/ all of the key markets and asset classes. The spreads of various instruments on various platforms may be readily compared and enquired about by clients using the complete spread table that LexaTrade offers. The VIP account offers the most affordable spreads, as can be seen.

LexaTrade Review: Promotions, Bonuses & Offers

  1. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement.
  2. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe.
  3. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.
  4. LexaTrade provides its clients with a wide range of trading markets, allowing them to access various financial instruments and assets.
  5. These are some of the most widely-traded markets by investors worldwide.

There are also broker review sites that speak well about the broker. Most of these positive reviews describe bonuses and promos. These online venues are unfiltered and, at times, uninformed and misguided.

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. It is important to note that LexaTrade currently operates without any valid regulatory oversight. This lack of regulation raises concerns about the safety and legitimacy of the broker.

You can still trade with all the money you deposit. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. So there’s the argument that some regulation is better than none, and that does hold up.

The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the  instrument traders trade in. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.

It offers a Start account, Silver account, Gold account, Platinum account, and VIP account. The platform also offers customizable charting, allowing users to tailor the charts based on different timeframes. A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005.

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. 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.

After deposite minimum amount $250 they start some deals and shows some profit. As automatic withdrawal was not active on my account I tried with withdrawal process to check how fast they complete the request but then I saw the real face lexatrade review of this platform. Three times my account manager was changed but nobody approved my withdrawal request. Always asked for more deposite and said you have to make minimum deals or make $1000 deposite if you want to withdrawal your money.

As a forex trading platform, LexaTrade is legal in India. However, it is an offshore broker restricted to operating in the US and Europe. The platform supports  bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals. 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.

There will always appear negative reviews about every broker, even the most trusted ones. This is a simple fact in the trading industry, where competition can sometimes be cutthroat. Below is an analysis of some negative reviews hurled towards LexaTrade. On the LexaTrade website you can find a Learning Center.

LexaTrade’s offering of the MT4 comes in a web version and it is compatible with any browser. Platform includes a customization feature that comes with listing charts and shifting time ranges. LexaTrade also provides a demo account that allows you to try out the financial markets without the risk of losing money. Reading this LexaTrade review permits interested traders and companies with the brokerage to gain a perspective of LexaTrade. If it had not been made clear yet, believing the tags such as “LexaTrade courses scam” and “LexaTrade cheating” is simply oversimplifying one’s understanding of how brokering works.

LexaTrade ReviewProper regulations usually ensure that forex brokers are sufficiently capitalized in the event of insolvency or trading losses. It also guarantees the broker’s commitment to maintaining satisfactory dealing practices and keeping your money in secure and segregated accounts. 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. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.

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