This is also a great security measure against online hackers who transfer client’s funds into their bank accounts and withdraw the money. Also, LexaTrade only partners with trusted international banking institutions when handling their corporate funds. This does seem like a friendly broker, but I am not sure it’s https://cryptolisting.org/ the best choice for a total beginner, simply because the lowest deposit to open an account is $250. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds.
Its multi-asset trading services have garnered the trust of its clients and has earned it a spot in the top forex brokers in industry. The broker is headquartered in Saint Vincent and the Grenadines, a popular domicile to offshore brokers (since most brokers based in Saint Vincent and the Grenadines are unregulated is lexatrade legit brokers). Its first year of operation revolved around managing cash transactions in real-time trading using PAMM accounts. It then enhanced its offered trading solutions and its trading assets and instruments in the following years and groomed itself to become an emerging online brokerage brand.
Yet, questions remain whether this regulatory affiliation is strong enough to set aside fears of losing trading funds of clients in the event of insolvency. Fortunately, IFMRRC features a Compensation Fund scheme to be observed by all its 49 regulated brokers, including LexaTrade. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.
Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold.
- 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.
- So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers.
- It is compatible with all major web browsers and enables traders to execute various types of transactions.
- The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.
The broker also provides different trading assets for higher liquidity with high leverage and low spreads. And even then, you only get the web version, and you need the $50,000 account for the full unlock. 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.
Thoughts on “LexaTrade: Getting into the Meat of an Honest Broker”
Knowing more about Lexatrade – its features, pros and cons, customer reviews, and legitimacy as a financial service provider by reading comprehensive LexaTrade rezension in general. Our review will provide a rundown of Lexatrade’s trading service features, conditions, and other important aspects of its brokerage service. Payment can be made in three days – using the lender’s debit card, electronic services, or bank transfers. The method of depositing funds for the first deposit determines the options for the subsequent withdrawal of money. As on other sites, bank transfers arrive on accounts lexatrade.com site faster than when withdrawing to a card. The platform is somehow new in comparison to some reliable names dominating the forex industry.
How To Withdraw Money From LexaTrade?
We’re nearly certain the broker made the accounts just to seem more open. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. While there are also legitimate negative reviews about other brokers, it is important to discern which ones are legitimate and are coming from actual clients. The trading industry is a tight, competitive area where brokers fight against one another. Identifying which reviews are true is also a skill that any aspiring trader must acquire.
It comes with unique perks that will be very useful to professional traders. It is definitely more expensive than the Silver Account, but quality always comes with a price. For starters, LexaTrade has a “Refer a Friend” program, which allows an existing client to benefit from sharing the services of LexaTrade to friends and fellow traders. A program entails any existing client receiving 50% of the deposited amount of any new trader they’ve successfully encouraged to sign up with LexaTrade. The amount that user will receive is entirely up to how much the new client has deposited.
Is LexaTrade the Right Choice for You?
The enhanced account offering helps traders to trade efficiently and thus improves their trading game. The broker is regulated, but not efficiently by a tier 1 regulation, so clients should be careful while investing with the broker. Even Though the regulation of brokers is not refined, the reviews of the broker online are satisfactory.
COMMODITIES
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. After a lengthy and extensive probe into the services and LexaTrade Forex brokers reviews, let us sum up the advantages and disadvantages of LexaTrade as a broker. “If, in general terms, the company works honestly, and I would not say that LexaTrade scammers.
LexaTrade Broker: Is It a Scam or Good Forex Broker?
LexaTrade’s funding options are limited to the following – VISA/Mastercard, cryptocurrency, Skrill, Neteller, and Arangepay. A 5% additional commission is charged for clients conducting less than 5 independent transactions. Everyone should understand how to distinguish a good broker from those that are often considered scammers and why forex is a scam. LexaTrade can make a CFD transaction electronically and without a prescription.
Holding its business operations in Saint Vincent and the Grenadines, many traders doubt the legitimacy of the broker, let alone Lexatrade’s regulatory credential. This is because there are many traders online claiming to have been scammed by LexaTrade. Along with the broker’s regulatory background, this broker review will also rundown key advantages and features of LexaTrade.
When an existing client successfully gets another trader to sign up to LexaTrade, clients are awarded up to 50% of the deposited amount of the new client. Any existing trader can sign up to participate in the program and receive incredible bonuses. 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. Even the most reliable companies that have graced the top brokers’ list for many years have received negative feedback.
That’s especially true if the bonus goes as high as it does at lexatrade.com. It is divided into webinars, trading courses, and a reviewer/questionnaire. These materials gear towards beginning traders who are still in the process of acquiring decent knowledge about trading. On the other hand, reviewers and questionnaires are designed for beginners and professionals to refresh their acquired knowledge and ensure that they don’t forget anything. All materials are available after registration, so you can ensure that reviews like “LexaTrade courses scam” are not true. The Reporting Season is the most profitable period in financial markets, and LexaTrade makes it a point to highlight this.
Albeit contrary to one client review above, this issue can be easily identified as a misinformed judgment on the client’s part. 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, including phone line and email. The support team is problem-solving and responds quickly, so the overall communication with the team was great.
