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. If you have been drawn nearer by a trick firm, then, at that point, contact Brokers Complaint to get fund recovery.

With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.

It looks like the broker took stock images, put them in boxes, and called it a day. Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together. This includes video courses and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform.

ACCOUNTS OFFERED BY LEXATRADE

Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains.

  • Through LexaTrade review our aim is to warn traders not to trade with this broker because this broker is suspected to be a scam according to the research done by our team.
  • More so, it grants access to live market prices and liquidity, all while enabling robust security and stability.
  • So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers.
  • And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better.

That, along with the multiple phone lines, makes the broker easy to reach. The representatives are adept at problem-solving, so the overall communication flow is great. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. The broker’s offer does actually seem decent enough, but the presentation isn’t up to par. We’ll see if the broker’s functional prowess ends up improving what we think.

Should I Open An Account With LexaTrade?

We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. The spreads vary on the account type and the  instrument traders trade in. Overall this is a promising broker but a few tweaks here and there would make it a better one. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

IFMRRC stands for International Financial Market Relations Regulation Center. 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 https://cryptolisting.org/blog/materiality-principle-in-accounting-definition to be true more often than not. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. The deposits are processed instantly, while withdrawal may take up to 3-5 business days.

Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words

Live chat support was available at the time of our visit but a bit slow to answer. 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. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new.

HOW TO OPEN AN ACCOUNT ON LEXATRADE?

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 seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well.

Top of the Times

However, it garnered popularity among traders with its one-of-a-kind features and the services. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines.

The insurance covers upto 100% of total loss on all trades opened on the deposit day. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center. Despite this, it is an off-shore broker restricted to operate in the US and Europe. We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs.

It is regulated by the International Financial Market Relations Regulation Centre, making it a reliable broker in the forex market. The broker offers different types of accounts to its clients for better trading experience. The broker offers 5 primary account types, catering to the needs of every sort of trader. The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc.