The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. 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 https://cryptolisting.org/blog/lexatrade-review-legit-or-scam advise to choose among legit brokers like InvestFw. All account types offered by LexaTrade support the use of expert advisors (EAs), automated trading systems commonly used in the Forex market. There are also other newbie-baiting features, such as the bonus that Lexatrade offers.
- The charges are higher compared to the platform we have reviewed so far.
- 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.
- Unlike other businesses that have overhead expenses, this one is the best for most people.
- However, much information regarding the same is unavailable on its website.
- We aren’t the biggest fan of the huge jumps between the sums you need for different account types.
However, it is an offshore broker restricted to operating in the US and Europe. The deposits are processed instantly, while withdrawal may take up to 3-5 business days. The platform supports bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.
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On the other hand, not much will change if you acquire the knowledge and don’t do anything with it. All you need to do is move the needle; eventually, things will get better once you gain experience and learn from your failures. If you acquire the required information and act on it, you will succeed, and that’s a guarantee.
- The case with its funding is much of the same, as there are some things that look good.
- The company is located at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and the Grenadines.
- Check out more unregulated and untrustworthy scam brokers in our Scam Broker 2022 list.
- However, withdrawals may take a bit longer, usually about 3-5 business days to process.
- On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.
- LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients.
Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options.
Many brokers have more than one authority to supervise them, but some brokers do not have any. You should avoid such brokers, as they are a threat to your money. Having the potential to make someone go into a debt trap, scammers lure their victims in with irresistible offers and discounts.
Why Should You Stay Away from Lexatrade
Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade. The information on Forex-mag.com does not serve as an investment or trading recommendation.
In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. LexaTrade is an online trading broker owned by Swissone Group Ltd. The company is located at Beachmont Business Centre, Suite 39, Kingstown, Saint Vincent and the Grenadines. To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries.
Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together. All in all, in terms of legality, we did not find any grave concerns. Nonetheless, if you are just starting out, then take it slow and invest only the kind of amount you are comfortable losing. Risk appetite is different from person to person which is why talking with a financial planner is always a good thing before jumping on to any conclusions. The parent organization is registered in Saint Vincent and the Grenadines. Practically speaking, they are not regulated, but over the years the kind of reputation they have earned tells us a lot about them.
Lexa Trade Deposit and Withdrawal Methods
LexaTrade is licensed and regulated by the International Financial Market Relations Regulation Center (IFMRRC). It is regulated by the International Financial Market Relations Regulation Centre, making it a reliable broker in the forex market. The minimum deposit is generally asked in very small amounts by legitimate brokers as taking huge amounts as the minimum deposit is not advised by the regulations. The usual amount asked by legitimate brokers lies in the range of $5 to $10. If the broker asks for an amount more than the average, chance of a scam. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review.
Perhaps the best part is that anyone that signs up with them can watch the tutorials and there are no hidden clauses. We analyze your chargeback data and root causes of your scam case in real time. To sum up, all that has been said above in this LexaTrade review, we give you the power to decide whether the broker is a scam or not. Scam Victims Help has extensively researched the LexaTrade Review and found several red flags that every trader should be aware of. Read our LexaTrade review today to learn everything you need to know about this broker before signing up.
Although Lexatrade may be legitimate, there are several reasons why you should consider an alternative instead. Selecting something that’s a little more guaranteed is the way to go as it’s the more sustainable option. If you’re wondering if Lexatrade is legitimate or a scam, you’ve come to the right place. To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the 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.
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’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience.
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