On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. 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. And that’s without mentioning our hunch that the broker isn’t entirely honest. Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there.
The company charges a service charge of 5% if users make less than 5 independent transactions. The deposits are processed instantly, while withdrawal may take up to 3-5 business days. 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 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. 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. But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account.
Min Deposit
It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. Although we do daily broker reviews, we’ve never heard of it before. There are also other newbie-baiting features, such as the bonus that Lexatrade offers.
- As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform.
- That isn’t an exact rule, but it’s something we’ve found to be true more often than not.
- It is regulated by the International Financial Market Relations Regulation Centre, making it a reliable broker in the forex market.
- The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
- The promotion is applicable for deposit amounts ranging from $500 to $5,000.
They are capable experts with the ability and instruments to detect a con artist and get your assets back. Furthermore, while there are some solid conditions, https://cryptolisting.org/blog/heres-what-buying-bitcoin-on-robinhood-is-really-like 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.
How To Delete LexaTrade Account?
The broker even partners with reliable and trusted international banking institutions while steering their corporate funds. Brokers Complaint is one of the best recovery agencies specializing in Lost Cryptocurrency funds recovery. We also help victims of Forex frauds, Binary frauds, Investment scams, Pension frauds and many other types of scams. The most commonly used trick that scammers follow is offering a high bonus.
What is the maximum leverage offered by LexaTrade?
Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement. 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. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those.
Firstly, guarantee the license is from a reliable controller and not one who gives a license to any individual who pays a charge. Legitimate specialists might have the option to accomplish something, yet controllers can remove the license from trick intermediaries. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges. The genuine features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs.
The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors.
LexaTrade Ratings
Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike. The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the instrument traders trade in. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.
X CRITICAL MOBILE APP
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. LexaTrade offers several trading instruments to choose from, with high leverage and low spreads for high liquidity and profits. 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. LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients.
After pursuing this review and reading other negative LexaTrade reviews, it is clear that this broker is a scam. If you got defrauded by LexaTrade scam or some other intermediary and need to discover more about another agent, address our specialists. We assist customers with documenting the case against trick representatives.
