0 comments June 2, 2024

Lexatrade Reviews 32 Reviews of Lexatrade com

Me helped someone got their stolen money and I decided to give it a try and later put a smile on my face. However, it is an offshore broker restricted to operating in the US and Europe. The company will initiate withdrawals only after all customer supply requirements have been satisfied. The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website.

xCrictical Mobile App

If you have been drawn nearer by a trick firm, then, at that point, contact Brokers Complaint to get fund recovery. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains. Users can cancel their trading account at any time by sending their concerns to an email address or by contacting an administrator.

LexaTrade Withdrawal

LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, how genuine is lexatrade including phone line and email. The support team is problem-solving and responds quickly, so the overall communication with the team was great.

From the business

This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. I have been working with Lexatrade since the summer and have withdrawn money 3 times during this time.

In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. 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. Live chat support was available at the time of our visit but a bit slow to answer.

Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam. That isn’t an exact rule, but it’s something we’ve found to be true more often than not. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it.

Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points. As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies. This broker offers a balanced mix of functionality and user-friendliness.

I did not notice any problems with this broker, with the exception of sales managers. They are a little more aggressive than necessary.But why am I seeing a lot of negative reviews about Lexatrade? It turns out that almost ALL negative reviews were written by scamers advertising their scam chargebacks. If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade.

  1. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165.
  2. However, the translation itself is shoddy, so the website ends up looking unprofessional.
  3. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided.
  4. However, it holds a licence from the International Financial Market Relations Regulation Center.
  5. Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform.

Yes, the broker offers trading services globally focusing on countries like India, South Africa, and most of Asia. This includes video courses and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform. LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market. Furthermore, while there are some solid conditions, they all come with high price points. And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better. It’s a non-commercial organization that regulates about 60 brokerages.

However, for a newer trader, the website may look too daunting. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. Prior to making any investment, we highly advise you to thoroughly review our Terms and Conditions.

Many fraud forex brokers or other scam brokers are working under fake organization names or other deceitful activities. A fundamental examination can go far in securing you and your accounts. Managing financial firms approved or enrolled by legal authorities gives you more prominent assurance assuming things turn out badly. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. After analyzing the detailed LexaTrade review, we can say the company is totally a scam.

It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers.

The trader can contact LexaTrade customer care to recover their money. We wouldn’t recommend using this forex brokerage, they donot impress us with the vague information they have provided. In this portion of the review, we aim to explore the accounttypes a broker might have.


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