LexaTrade Review 2024: Is It A Scam? Unbiased Review

If the LexaTrade broker becomes insolvent, they do not have access to the client’s funds. Forex trading is fully legal if there is not any ban from the government. Even the withdrawal speeds increase as you go up to the higher accounts. There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. LexaTrade is ambiguous about how deposits and withdrawals work, and we can only get come basic information in the refund policy page.

• This broker offers a balanced mix of functionality and user-friendliness.
• The spreads vary on the account type and the  instrument traders trade in.
• While the platform offers a considerable service, we still advise to choose among legit brokers like InvestFw.
• So many requirements that must be fulfilled client as well as they makes client reluctant to join them and a lot of clients who have left this broker.

A web-based proprietary platform that lets traders experience advanced trading. A web-based proprietary platform is offered by LexaTrade, such as MetaTrader4 and LexaTrade
app – xCritical Mobile App. While the platform offers a considerable service, we still advise to choose among legit brokers like InvestFw. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.

Have control over your money as we provide the favorable terms

LexaTrade now services tens of thousands of traders from around the world and is a highly liquid exchange which attracts both retail and institutional clients. Also lexatrade review trustpilot , lexatrade wikipedia are also showing bad numbers. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience. It is compatible with all major web browsers and enables traders to execute various types of transactions. Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points.

We aren’t the biggest fan of the huge jumps between the sums you need for different account types. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability. The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall.

LexaTrade Review: Fees, Commission & Spreads

Unfortunately, every day there are more fake forex scam brokers and other types of online trading brokers looking to scam unsuspecting victims. In this case, the minimum deposit is $1,000 and you will need to maintain monthly activity . The interest is paid monthly, there are no charges from LexaTrade, and negative balance protection is granted.

IC Markets

This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. 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).

Do LexaTrade Offer Research Support?

We’ll see if the broker’s functional prowess ends up improving what we think. LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. This company does not do its job well, and pretends to be a broker that does not give returns at all. When I invest 350s, I immediately get the indices and the operations resolved to make me lose my money.

The LexaTrade live rates are accurate due to increased liquidity conditions. LexaTrade provides its clients with a wide range of trading markets, allowing them to access various financial instruments and assets. Traders have the opportunity to trade in different markets, including currency pairs, indices, commodities, metals, energy products, and stocks.

Indices/Shares

If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade. The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we https://cryptolisting.org/blog/will-i-go-into-debt-if-i-use-forex-leverage-and-make-a-poor-commerce went through many complaints, which indicate LexaTrade is a scam. 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.

Here are three of the most important factors to keep in mind when choosing an online broker for forex trading. Next, compare the trading platforms, tools, and investment research provided by each broker. Finally, read forex broker reviews to compare pricing and product offerings (e.g., number of forex pairs and CFDs available to trade). With this regulation, LexaTrade can confidently provide their services to traders from many countries around the world and offers their services in 20 different languages.