Forex trading with the best CFD broker
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 https://cryptolisting.org/blog/how-to-buy-xyo-on-kucoin-2zero ends up improving what we think. It seems like the website wasn’t designed in English, but rather translated from another language.
We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. Unfortunately, LexaTrade is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority (FCA). It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud. 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.
- This is a fantastic service that covers all of the key markets and asset classes.
- The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.
- LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.
- XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle.
It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process. With their 24-hour client service team, you can get the support you need whenever you need it. LexaTrade offers several trading instruments to choose from, with high leverage and low spreads for high liquidity and profits.
LexaTrade · Company Summary
Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. The case with its funding is much of the same, as there are some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit.
- If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.
- However, it is an offshore broker restricted to operating in the US and Europe.
- We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage.
- One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’.
- The deposits are processed instantly, while withdrawal may take up to 3-5 business days.
- As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform.
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. For AUD/CAD, the Mini spread is 3.8 pips, the Standard spread is 3.3 pips, The Silver spread and the Gold spread are 3 pips, and the Platinum spread is 2.3 pips. It is important to mention that there was no specific mention of commission-related details for LexaTrade. All account types offered by LexaTrade support the use of expert advisors (EAs), automated trading systems commonly used in the Forex market. It is important to note that LexaTrade currently operates without any valid regulatory oversight.
X CRITICAL MOBILE APP
If you’ve been following our detailed Lexatrade review 2023, you have likely noticed the platform has not much to offer to its users. 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. That, along with the multiple phone lines, makes the broker easy to reach.
How To Trade On LexaTrade?
The representatives are adept at problem-solving, so the overall communication flow is great. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. So there’s the argument that some regulation is better than none, and that does hold up.
The insurance covers upto 100% of total loss on all trades opened on the deposit day. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center. Despite this, it is an off-shore broker restricted to operate in the US and Europe. We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict.
Is LexaTrade Safe or Scam?
This is a fantastic service that covers all of the key markets and asset classes. 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. And that’s without mentioning our hunch that the broker isn’t entirely honest.
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, 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. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. 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.
The platform allows traders to access all popular commodities worldwide. However, much information regarding the same is unavailable on its website. 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.
In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. Investing time in research before trying to invest on a suspicious broker can save you from potential losses and unnecessary stress. The company is located at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and the Grenadines. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs.