LexaTrade Review 2022 Read about scam broker

A https://forex-reviews.org/ platform is available but Demo accounts are not; US traders are not accepted. 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.

We offer a Free Consultation when you file the complaint with us. They offer a lot of instruments to the retail side with reasonable costs. Plus, the additional tools and bonus packages makes them a dominant player in the sector.

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Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. The charges are comparatively higher than the platform we have reviewed so far.

The broker uses a tiered account progression where each type requires you to reach a specific threshold. The cheapest option is $250 while the most expensive is $100,000. If you are already in it, you can get help from LFr es cue • org let’them guide you!

thought on “Is LexaTrade a Scam? Honest Review 2023”

LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. There is no solid information about the founder of LexaTrade and its parent company. The LexaTrade referral program activates when you invite your friend to sign up for the platform.

The representatives are adept at problem-solving, so the overall communication flow is great. 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 Review: Is Lexa Trade a Scam Broker?

If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit. The commission is based on the size of the transaction and ranges from 0.005% to 0.015% for most instruments, while it is 0.5% for cryptocurrencies. Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument.

• There is no certainty in the contact information available.
• And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds.
• Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam.
• Video courses and E-books, while the questionnaire section offers all the questions related to customer’s feedback on the platform.
• Your data may fall into the wrong hands attracting criminal activities during the registration process.

The broker has a lot of disadvantages which overshadow its features. Additionally, the broker is unregulated and has high spread charges. The platform’s features that are worth considering include bonuses, advanced trading platforms and learning programs. LexaTrade is an unregulated broker platform similar to LegitHartford24, which we reviewed earlier. Problem with unregulated brokers is that they are not reliable and abuse the regulations.

LexaTrade Review Warning Signs – Why LexaTrade is a scam broker?

Many people have complained that LexaTrade has locked or stolen their funds. Either balance gets zero or unable to withdraw funds due to invalid reasons. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions.

lexatrade claims to offer the tightest spread in the industry. They even tout a variety of stocks for trading claiming that this will spread the potential risk involved in stock trading. Lexatrade offers full-time support with 24/7 operating hours. That, along with the multiple phone lines, makes the broker easy to reach.

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 platform supports all major payment methods for deposits and withdrawals, including bank wire, credit /debit cards, Skrill, Neteller and OrangePay. The platform is relatively new in comparison to some prominent names already dominating the forex industry. However, it quickly garnered popularity among traders, thanks to one-of-a-kind features and the services. 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.

Lexa Trade review: Regulations, Platforms, Features and Ratings.

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. LexaTrade is a brokerage that has been around since 2018.

License is the most significant thought while choosing a merchant. 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. Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points.

• We recommend staying within the range of good taste and respectful language to avoid any unpleasantness.
• Many people have complained that LexaTrade has locked or stolen their funds.
• If you have been drawn nearer by a trick firm, then, at that point, contact Brokers Complaint to get fund recovery.
• In my opinion, the platform should incorporate more payment methods.
• While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam.

I have many evidential communication by them through email and Skype is witness. Due to such malpractices At the end the investor suffer financially & mentally. You ought to receive an instant reply to your query, if not fast. Nevertheless, fraudsters cut off communications upon receiving your money. It is improbable to deliver a friendly interface without proper customer relations.

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. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages.