LexaTrade Review, Forex Broker&Trading Markets, Legit or a Scam-WikiFX Score:1

Deposit bonuses are illegal in major jurisdictions like the EU because they push people to trade irresponsibly. When researching an online broker, the first and most important step should always be to find out if they have a regulatory license from a financial institution. This will tell you whether they are regulated by a central authority or if you are dealing with an offshore and/or unregulated investment company. LexaTrade also has a schedule of free seminars worldwide, which introduce clients to trading concepts, and provides networking opportunities.

However, they’ve at least published a table showing the spreads they charge for different asset pairs. Meanwhile, most of the complaints are related to the LexaTrade is a scam and accounager who force clients to make more deposits. The broker has a lot of complaints and the majority of negative LexaTrade reviews can be found at Trustpilot. MT4 is probably the world’s most renowned trading platform for Forex. Additionally, the one thing that I disliked about the platform is that its standard account holders don’t have access to Cryptocurrencies. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog.

Despite this, it is an off-shore broker restricted to operate in the US and Europe. Parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. In-depth look at the platform with our detailed LexaTrade review. In the event of an exceptionally complex case they may require an upfront fee, as building your case will necessitate initial resources. Otherwise, if successful, MyChargeBack will be compensated by retaining a percentage of the recovered funds from LexaTrade, typically around 20%. For this purpose, the Barclays Bank is used, which operates internationally and is always liquid.

LexaTrade Review: Promotions, Bonuses & Offers

A Tier 1 bank is considered the safest and most secure regarding client capital. Lexatrade offers the MetaTrader 4 and MetaTrader 5 trading platforms. These platforms are popular among traders due to their advanced features, which are defined below. 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 LexaTrades proprietary platform absence, MT4 and the xCritical Platform are already enough to turn any trading endeavour into a profitable activity. The xCritical platform is one of the most noteworthy trading platforms in the trading industry.

Their customer care Nos are there on website to make you full.They never picked phone.Please stay away from this fraud company. Lexatrade offers personal account managers to its users and they help in trading. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. However, better options are present online, and it’s easy for most traders to switch. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.

Do LexaTrade Offer Research Support?

Click the following links to hear the behavior of the executive’s in lexa trade. These benefits seem to be general in nature as the broker doesn’t talk of something we’ve never heard from brokers. But first we will focus on the level of service provided by the broker.

• The support team is problem-solving and responds quickly, so the overall communication with the team was great.
• When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised.
• They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.
• The action you just performed triggered the security solution.
• Through its mobile platform, an expansive set of tools available through its PC version are mirrored effectively.
• Meanwhile, most of the complaints are related to the LexaTrade is a scam and accounager who force clients to make more deposits.

You will need to provide some basic documentation to prove your identity as part of LexaTrade onboarding and normal KYC identity checks. These checks are standard practice and help LexaTrade provide a safe financial environment for their 10,000 users. The broker offers a web-based proprietary platform that lets users experience advanced trading.

Nearly all brokers will give you a raw deal if you fail to read their ToS regarding their deposit bonuses. LexaTrade claims to offer the tightest spread https://cryptolisting.org/ in the industry. They even tout a variety of stocks for trading claiming that this will spread the potential risk involved in stock trading.

Also, an IFMRRC license does not mean anything for the broker’s right to provide its services in any country. For example, LexaTrade’s license from the IFMRRC is not recognized in the EU, UK or US, which means that this broker legally can’t offer its services in these regions. Lexatrade is a broker that claims to be based in Saint Vincent and the Grenadines, which is an exotic location where proper financial regulation is non-existent.

lexatrade.com

Many people have complained that LexaTrade has locked or stolen their funds. Either balance gets zero or unable to withdraw funds due to invalid is lexatrade legit reasons. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making.

Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk. When opening a trading account with LexaTrade, you will need to sign up here. You can find detailed guidance on LexaTrade trading platforms here.

It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. 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. Overall this is a promising broker but a few tweaks here and there would make it a better one.

The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.

Lexatrade’s Trading Platform

If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided.

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 broker’s offer does actually seem decent enough, but the presentation isn’t up to par. We’ll see if the broker’s functional prowess ends up improving what we think. 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.

LexaTrade is regulated by Financial Conduct Authority so can be considered legit. Brokers that require earnings on forex a larger minimum deposit amount usually offer a greater range of trading features on their platforms. On our website, you can see that some users have reported scams. You can check our platform for information before trading. LexaTrade began by managing cash transactions in real-time trading using PAMM accounts.

It should be made clear that Lexa Trade does not hold an individual broker license. On the other hand, the company under which they rely on seems to be overseeing several other entities which provide financial services under one license owned by SwissOne Group Ltd. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. The company charges a service charge of 5% if users make less than 5 independent transactions.

VIP Account – This type of account features ultra-low commissions. I have been working with LexaTrade broker for six months now. I learned about it much earlier, but I came across negative info. I read in comments on one forum the information «LexaTrade scammers», fraud, etc. Then he learned from a friend trading with a LexaTrade broker that all prosecutions are complete nonsense. As a result, I opened an account there, on which I have been trading for six months.

For the opening of a CFD trade, you do not buy directly the underlying asset, scammed by lexatrade but only the contract to that value. This has several advantages because you can act with a high level of leverage and very easily place short trades. Our team of scientists have experience and deep knowledge of Computer Security and Artificial Intelligence .

They even have affiliates who individually promote platforms to others and force them to invest maximum money. Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back. If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit.