In contrast, regulated firms are required by law to adhere to a slew of regulations that ensure the safety of client’s funds. 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. It is regulated by the International Financial Market Relations Regulation Centre, making it a reliable broker in the forex market.
LexaTrade is licensed and regulated by the International Financial Market Relations Regulation Center (IFMRRC). As there is no regulation, the people running the platform can pocket your money while bearing no responsibility for their criminal actions. Companies providing online investment services without a license cannot provide their clients with any sort of protection.
The financial products offered by the companies listed on this site pose a high risk and can lead to the loss of all your funds. When trading stocks, CFDs, or other derivatives, consider whether you understand the function of differential contracts and be aware of the high risk of losing your funds. ReportScamBroker does not recommend traders to trade with this broker and your funds may not be safe with this broker and LexaTrade review is negative.
WHAT TRADING PLATFORMS ARE OFFERED BY LEXTRADE?
LexaTrade will delay the process for months if you want to withdraw your funds, regardless of whether you have profits or not. If they delay it for a few months, you might no longer be able to get your money back or even file a charge back. To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo. Deposit and withdrawals are the two most important
transactions for us because the end goal of trading is making a profit. In this
section, we look at these methods to make sure everything is okay with it. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs.
- As such, we don’t think you can get a competitive trading service up until the $10,000 account at least.
- Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.
- Lexatrade offers full-time support with 24/7 operating hours.
- On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker.
It’s a non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. 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. However, for a newer trader, the website may look too daunting.
A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. 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. 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.
Which Trading platforms are offered by LexaTrade?
For starters, the first two accounts are borderline unusable. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features. As such, we can’t hold the deposit requirement for MT4 against the broker too much.
Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together. We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict. A chargeback is the retroactive cancellation and refund of a charge made using your credit card, wire transfer or some other payment methods.
xCrictical Mobile App
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. We aren’t the biggest fan of the huge jumps https://cryptolisting.org/blog/how-to-accelerate-your-learning-curve-to-10x-your-personal-growth between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types.
Even the withdrawal speeds increase as you go up to the higher accounts. And without the broker specifying the times, who knows how long it might take for you to get your money. However, it is an offshore broker restricted to operating in the US and Europe. 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.
LexaTrade
Lexatrade ensures high-grade security measures for all the services it provides, to secure client’s funds. 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. LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market.
How does LexaTrade Scam work?
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. 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. This is to provide the necessary time for necessary transaction procedures. And that’s without mentioning our hunch that the broker isn’t entirely honest.
Instead look for regulated and reputed brokers who can really help in growing your investments. Another thing to keep in mind is that there might also be
withdrawal conditions concerning accounts that take advantage of the bonus
promotion. Some fraudulent brokers stipulate that a trader must achieve a
certain trading volume to be eligible for withdrawal. There are also other newbie-baiting features, such as the bonus that Lexatrade offers.