LexaTrade Review 2024: Is It A Scam? Unbiased Review

The company will initiate withdrawals only after all customer supply requirements have been satisfied. In order to attract more traders on the platform, LexaTrade often starts promotions. There is not a single complaint regarding the same, so, we can rate it good in this case. The broker’s low user ratings of 2.1, which shows the platform’s low credibility. Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. Yes, LexaTrade is a scam dealer because it isn’t always regulated by way of any top tier regulatory watchdog.

  1. Traders wanting to execute forwards or vanilla options trades will need to use the desktop trader accessible via web or alternatively, the MT4 trader.
  2. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines.
  3. But then, it must be noted that the success of trades is not necessarily reliant on the type of broker that a trader enlists but on strategies that they employ.
  4. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall.
  5. Combined with LexaTrade’s enhanced trading conditions, you’re able to use a globally recognised trading platform accompanied by spreads from 0 pips and 0.20s execution.

How To Deposit Money In LexaTrade?

However, it is crucial to note that not all client reviews came from the real clients of the broker. Despite limited information available on the LexaTrade website, other Lexatrade broker reviews will tell you that the broker is under the Maxi Markets group. However, LexaTrade forex broker’s official site claims that the brand is owned and operated by Swissone Group Ltd. 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.

xCrictical Mobile App

That being said, caution should be used anytime money is involved, with all brokers, old or new. Every broker has received negative feedback from customers, critics, and even the general trading industry was accused of cheating. It is a common thing in industries where services are the main product of companies.

Trading with LexaTrade: Takeaway

Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review.

That is why, if you only choose the Forex broker, make your decision based only on verified official information. LexaTrade’s provision of these platforms allows for good options for transacting their trades. Even without LexaTrade’s proprietary platform, MT4 and xCritical platforms are enough to render good trading conditions to create strong investment portfolios. This number allows you to choose the appropriate variant according to your professionalism, budget, and needs. You can find more detailed information on each account on the LexaTrade website, and in our review, we prepare a comparison table.

Hence, it is of primary importance for a forex broker to assert its legitimacy through its regulatory certifications. LexaTrade offers several trading instruments to choose from, with high leverage and low spreads for high liquidity and profits. Deposits are processed immediately, ensuring that you have access to your funds whenever you need them for trading. However, withdrawals may take a bit longer, usually about 3-5 business days to process.

The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website. If you’ve been following our detailed Lexatrade review 2024, you have likely noticed the platform has not much to offer to its users. LexaTrade offers tight spreads which ensures competitive trading costs. It lowers risk diversification as well by investing in the basket of different stocks of various companies and sectors. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically.

Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. This broker attracted me precisely with this – in all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course there are questions, but after correspondence with tech support everything is successfully resolved. Nowadays, it is second nature to an investor to choose an officially regulated broker with a decent regulatory history.

This type of broker sends traders’ orders directly to liquidity providers to be processed and fulfilled. Trading forex and CFDs involves a high risk of losing money rapidly due to leverage and margin. LexaTrade offers users the ability to trade on a variety of trading platforms including MetaTrader 4 and CQG. Spreads from zero pips, commission payable on 2 currency units per side per lot (0.0020% notional). Classic –Trade CFDs on 62 currency pairs, major indices, bonds and commodities.

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. Platinum account of LexaTrade broker takes the advantages and perks of previous accounts to a higher level. It was curated specifically for advanced traders who invest both in short and long-term.

Before trading online with a broker such as LexaTrade you should be sure they’re legitimate online agent. In our research, we also investigated the customer service of this broker. The trader can contact LexaTrade customer care to recover their money. If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade.

If, in general terms, the company works honestly, I would not say that there are some illegal actions. It is unnecessary to wait for some news, and the market is moving unpredictably. Broker attracted me precisely with this – in all LexaTrade reviews, it is distinguished by reliability and honesty of the company. LexaTrade’s live chat through its trading platform is complemented with other social media platforms, including Skype and email, as additional means of communication. Being a global broker, LexaTrade has earned the praises of its clients and the ire of its detractors. Many critics have praised this broker for several reasons, while a select few spread libelous claims to destroy its reputation.

The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. Prior to making any investment, we highly advise you to thoroughly review our Terms and Conditions. A web-based proprietary platform that lets traders experience advanced trading.

Safety and security are the most important characteristics people look for in a broker. Knowing this, many unfair brokers try to publish bad reviews about their competitors to is lexatrade regulated accuse them of scam, non-compliance, etc. A lot of times, catalysts like news events make the assets move swiftly and it will be a trap for the people on the retail side.

LexaTrade developed its own proprietary trading platform displaying a high-level of functionality, speed, and profitability. It has an intuitive interface and highly-functioning terminals to make trading comfortable with minimal risks. LexaTrade platform contains more than 170 trading assets and tools to provide quality trading experience.

LexaTrade is a multi-asset broker whose wide range of services and financial instruments established its reputation. It is a trading brand of Swissone Group Ltd. based in Saint Vincent and Grenadines. There are 170 trading instruments on the platform, among them the most popular stocks and indices, precious metals and energy products.

One of the security measures that LexaTrade has imposed for the safety of its clients is strict payment procedures. The broker only accepts one method in deposit and withdrawal processes to prevent theft. It only partners with trusted global banks in handling their clients’ funds in segregated accounts. They also implement Negative Balance Protection, which prevents each client’s funds from reaching zero. Look at one more LexaTrade forex brokers review by Phillip from the UK.

Aside from Web platform, LexaTrade also offers another powerful XCritical trading platform. The XCritical mobile app has an intuitive and simple interface that easily helps traders navigate the platform. Traders can also easily track the movement of market prices and get timely feeds of current forex forecasts through the functionality of XCritical mobile apps.

Market risks are one of the most important things that any trader must fully understand from the onset. The phrase you could lose more money than you began with is embedded in every risk disclaimer, and every trader should be aware of this before trading. A client losing his funds from trading due to market circumstances is not a legitimate grounds to blame — LexaTrade cheating. It is praised for various reasons–from trading platforms to payment methods and its profitability.

The asset class is huge and regardless of the type you choose, it won’t be a herculean task to maintain a diversified portfolio as long as the risk management is present. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.

The fact of the matter is, going to sites like Facebook will only prove to be one frustrating affair. Accusations of fraud and scam not only against LexaTrade but also with many brokers. It is commonplace to read comments on your favorite social media platform and web forum. https://turbo-tax.org/ LexaTrade provides a Web platform armed with a wide range of tools, risk-management features, and best trading solutions. It contains no legitimate grounds or even constructive criticism about brokers. It plainly claims that this broker is something else without any proof.