(08) 6102 5774Most likely, these reviews were written by the company’s competitors. The LexaTrade broker reviews on the site ends with a section with links to the company’s documentation. Users advise LexaTrade to review their minimum deposits against the offers found in each of their trading accounts. Now, given the figures disclosed through the parentheses, it is easy to be turned off by the brokerage. The 250-Dollar minimum deposit to activate Start account may be considered already costly given the limited features made available to its users. Table below details all the features and offers that each account provides its users.
- Using XCritical mobile app, you can set stop loss, take profit levels, track the movement of various assets’ quotes, know currency forecasts, and check your account balance at any time.
- The offshore registration raises questions about transparency and accountability.
- LexaTrade’s live chat through its trading platform is complemented with other social media platforms, including Skype and email, as additional means of communication.
- Your own broker’s terminal has many features to facilitate your trading in the market.”
- It encourages its traders to participate in a program to maximize gains.
Your own broker’s terminal has many features to facilitate your trading in the market.” XCritical is a convenient alternative to desktop and web platforms. Its portability allows clients to trade anytime and anywhere without hassle.
Support teams are generally available during trading hours and can assist with technical issues, account queries, platform navigation, and more. The review above is an example of a false claim because it links the broker to a common circumstance in trading and does not fall under the broker’s control. Market risks are one of the most important things that any trader must fully understand from the onset.
TOP CRYPTO BROKERS
LexaTrade operates as an online trading platform based in Saint Vincent and the Grenadines. The company has positioned itself as a multi-asset trading provider, offering services across different financial markets. Available information shows that LexaTrade has developed its trading solutions and expanded its instrument offerings over the years. It has established itself as an emerging online brokerage brand in the competitive forex and CFD trading space. LexaTrade is a global online trading platform offering a range of financial instruments, including forex, commodities, indices, cryptocurrencies, and stocks. It aims to attract traders with promises of high leverage, multiple account types, and extensive educational resources.
Platform and Trade Execution
This process begins by visiting the official platform and completing a registration form. You will be required to provide your full name, email address, phone number, and select your country of residence. A password is created to is lexatrade regulated secure the account, and then the user agrees to the terms and conditions. Some are legitimate issues and concerns, while others were scammed by LexaTrade — false claims crafted by competing companies.
Indiabulls Securities Review
For instance, people in the UK who deal with unauthorized firms cannot claim help from the Financial Ombudsman or the FSCS. Likewise, U.S. investors lose access to protections like FINRA or SIPC membership when using unregistered brokers. Complete the form below to get a free case review from cyber-intelligence professionals who can help you trace your funds.
Thoughts on “Forex Broker LexaTrade Review”
Traders should be extremely cautious before depositing funds with this broker. There are not many extra features offered by LexaTrade offshore brokers. There are market analysis tools, including an economic calendar and important information like trading hours, provided. However, no educational materials are available, and from bonuses, only deposit bonuses are provided. These bonuses start from 30% on the lowest tier account, and depending on the minimum deposit, can be up to 120% for VIP accounts.
Let’s briefly overview the main features of each of these accounts to see what the broker has to offer. Introduction mStock is a financial services and brokerage platform that offers trading, investing, and margin… Traders are advised to exercise extreme caution when considering LexaTrade. The risk of financial loss, combined with the absence of credible accountability mechanisms, makes it an unsuitable choice for anyone seeking a secure and reliable trading experience. When selecting a broker, regulatory transparency, user trust, and consistent service quality should always take precedence.
- This shows potential areas for enhancement in support quality, responsiveness, or problem resolution effectiveness.
- LexaTrade’s lack of regulation is something we should not gloss over regardless of the firm’s advantageous features.
- The trading experience at LexaTrade shows positive development trends according to user feedback.
- While LexaTrade reviews may be considered to topple the negative bandwagon against forex broker, it does not change that all reviews found online are polarizing and altogether divisive.
- Choosing the appropriate account type depends on your trading goals, capital, and experience level.
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. Analyzing different LexaTrade broker reviews, it is clear that a VIP account is most recommended for expert traders with years of experience in the Forex market. You also have free access to paid webinars, a once-a-week communication with a VIP analyst, full-time stock trading, special offers, and a customized portfolio for the earnings season. This account is especially curated for professional traders trading in four financial markets. To ensure the security of their clients’ funds, LexaTrade implements strict payment procedures.
Despite its recent emergence, LexaTrade has quickly gained attention due to its user-friendly platform, competitive spreads, and diverse product offerings. However, as with any trading platform, potential traders must carefully evaluate the features, fees, and overall trading experience before committing real funds. LexaTrade is an offshore, unregulated broker with high minimum deposits, unclear spreads, and no proper trading platforms. While it offers a variety of assets and bonuses, the lack of transparency and licenses makes it a high-risk broker.
Other negative reviews listed on TrustPilot also detailed circumstances that unfortunately happen in markets but do not fall under broker’s control. Being a global broker, LexaTrade has earned the praises of its clients and the ire of its detractors. Many critics have praised this broker for several reasons, while a select few spread libelous claims to destroy its reputation. Commodities are viewed as steady, long-term, highly profitable investments. Commodities being long-term investments means that they must be carefully decided.
While the broker claims to offer reliable support, user feedback often highlights delayed responses and unhelpful interactions, particularly for withdrawal-related issues. This detailed review evaluates the platform’s features, trading conditions, customer service, strengths, weaknesses, and overall reliability. Investment frauds use social engineering and polished websites to gain trust and drain funds. Below are common methods often linked to platforms like LexaTrade. “If, in general terms, the company works honestly, and I would not say that LexaTrade scammers.
But most of the negative reviews are concentrated on Social Media, where you can write “I was scammed by LexaTrade” without any proof. The links that were included in the quoted testimonies will direct the readers to actual existing, live, and legitimate sites. It uses a license from a regulated company (they almost have the same name) or gives a invalid license number. Also pay attention to licenses from offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines but isn’t just these fraudulent countries, there are several. We had thought it best to quote them directly here for the readers to see.
BROKERS
The availability of MetaTrader 4 can add some credibility, as it is a widely used and respected platform. However, the platform’s mere presence does not compensate for the absence of strong regulatory backing. Because LexaTrade has no oversight, there is no protection for clients’ funds and no independent organization checking its activities.
In many cases, it is affiliated with jurisdictions that lack enforcement power or have minimal standards for financial companies. Funding methods listed by LexaTrade include credit cards, bank wire transfers, and various online payment processors. While these are standard across the industry, the real concern lies in the withdrawal process.
