Below are only some of the LexaTrade broker reviews written by legitimate clients on the website of TrustPilot. 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. We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the mostin-depth and unbiased verdict. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations.
The information on Forex-mag.com does not serve as an investment or trading recommendation. The server operator Almina Corp as is not a registered broker, investment advisor or broker. At whatever point you are in question about any dealer, the best practice is to let the asset recuperation experts help you. They are capable experts with the ability and instruments to detect a con artist and get your assets back. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs. Lexatrade ensures high-grade security measures for all the services it provides, to secure client’s funds.
Customer Support And Communication
- Using LexaTrade comes with a variety of risks that potential traders should consider carefully.
- The platform also offers different account types, each catering to various levels of trading experience.
- One of the most crucial elements of a broker’s legitimacy is its regulatory status.
The genuine features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. 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.
Trading Instruments
LexaTrade is a relatively new broker in the is lexatrade regulated online trading space, offering a range of financial instruments, including Forex, CFDs, stocks, commodities, and indices. 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.
Is LexaTrade A Scam?
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. The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to.
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And even though the Marshall Islands aren’t known for their regulatory standards, the firm still adheres to the international trading guidelines, making it credible enough. Despite this, it is an off-shore broker restricted to operate in the US and Europe. If you are interested in trading CFDs, you can take a look at our best CFD brokers for some options. The links that were included in the quoted testimonies will direct the readers to actual existing, live, and legitimate sites. We had ensured a pointed evaluation through its employ of all functions of the LexaTrade official site. Traders are particularly concerned about the execution quality, as any delays or inaccuracies can lead to substantial financial losses.
A little bit of preliminary research can go a long way in protecting you and your finances. Brokers Complaint can have advertising and affiliate relationships with some of the trusted recovery companies and may be compensated through them . Brokers Complaint is committed to the fair handling of reviews and posts regardless of such relations. 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.
LexaTrade developed its own proprietary trading platform displaying a high-level of functionality, speed, and profitability. It has an intuitive interface and highly-functioning terminals to make trading comfortable with minimal risks. LexaTrade platform contains more than 170 trading assets and tools to provide quality trading experience. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.
As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours.
Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. Engaging with an unregulated or potentially fraudulent broker puts traders at significant financial risk. Once funds are deposited into such a platform, recovering them can be extremely difficult. Legal avenues are limited when the broker is registered offshore and lacks a regulatory framework. Additionally, many such brokers close operations abruptly or rebrand under a new name, leaving clients without any support or recovery options. Aside from Web platform, LexaTrade also offers another powerful XCritical trading platform.
- This is so as the region’s local government does not have any provisions for regulating Forex trading activities.
- LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.
- Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those.
- Ensure that the broker is licensed and regulated by a recognized financial authority.
- These accounts come with varying features and minimum deposit requirements, allowing traders to choose the one that best matches their needs.
Currently, LexaTrade is not fully regulated by major financial authorities such as the UK’s FCA or the US’s CFTC, which is a significant factor to consider when assessing its reliability. The lack of regulation from a reputable body means that traders may not have the same level of protection that comes with using a fully regulated broker. This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.
The broker provides a decent and fair set of trading conditions coupled with some advanced trading tools and platforms. They also provide traders the optimal opportunity to learn the basics and complexities of trading through different educational resources. LexaTrade offers trading instruments in stocks, shares, commodities, and foreign exchange markets.
However, the problem arises when the broker places excessive emphasis on larger deposits without offering proportional benefits or transparency. Albeit contrary to one client review above, this issue can be easily identified as a misinformed judgment on the client’s part. In one way or another, clients who were unable to withdraw their funds from their accounts might have violated some conditions and guidelines without them knowing it. Here you can find a lot of useful information about brokers, strategies, and the latest news from the world of online investment possibilities and many other interesting topics. One hallmark of a trustworthy broker is responsive and reliable customer support. However, many traders have reported that communication becomes scarce after large deposits are made.
LexaTrade provides a mulitlingual customer support 24/7 to deal with all queries via live chat, email and telephone. Broker attracted me precisely with this – in all LexaTrade reviews, it is distinguished by reliability and honesty of the company. “If, in general terms, the company works honestly, and I would not say that LexaTrade scammers. It is not necessary to wait for some news, and the market is moving unpredictably. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. If a broker is vague or evasive when answering your questions, or if they refuse to provide information about their operations, this is a major red flag.