Lexatrade Forex Broker: User Reviews Collected and Summarized

But the wider community tends to disagree – there’s a lot of points that simply can’t help but attract criticism. With LexaTrade, traders needn’t be concerned as they’re a member of the Investment Compensation Fund scheme. The fund entitled traders to say lexatrade scam as much as a maximum of 20,000 euros. LexaTrade have moved away from platform supplier TechFinancials, and developed a new bespoke platform. If one is to look for the company’s web rating, an engine search on the internet will render negative LexaTrade broker reviews. While we cannot fully dismiss the possible fraudulent activities, we also have to take into account their reliability and if these claims have substantial bases.

If you look at Lexatrade as a provider of services, it doesn’t look all that impressive. The list of assets includes shares, indices, crypto, commodities and foreign currency, and that’s about it. There are also indices, stock and commodities, but you’ll have to unlock them first. This restrictive policy is extended to other things also – the better parts of the broker are reserved for the more well-off customers. As with many different companies, traders sometimes complain of withdrawal delays. Many of the delays are due to the slow proofing of the identification procedures.

Lexatrade Forex Broker: a Critical Review

This review will list a few of the major points of criticism and tell you why they may or may not be the sources of worry. They also give you all the information they can about the way your transfer will go. The support itself is also 24/7 and multilingual, which is a very nice touch, considering they are mostly very restrictive about everything.

• Regardless, we still have to consider the legal documentation presented in its official site.
• There are also indices, stock and commodities, but you’ll have to unlock them first.
• It should be noted that, although they confine you to the poor conditions when compared to the usual exchanges, they also rarely cheat you.
• Included in the process is the funding, in which interested parties need to provide the means of funding, and the amount they want to deposit.

The finest forex broker approach to avoid that is to send all your identification details earlier than making the withdrawal request. So you weren’t in a position to withdraw your money from IQOPtion dealer? I’m buying and lexatrade rezension selling with this dealer a pair years and I never heard a single story like this. However, they also rarely forbid the majority of their users from using other software if they feel like it. Nevertheless, it’s strictly stated that you can’t use MT4 (and it’s the only third-party piece of trading software you can use) unless you pay Lexa more.

LexaTrade Forex Broker

However, this education focus goes beyond simply providing educational material. Lexa gives you extensive information about what you can or can’t do with different types of account, as well as a full sheet of fixed low spreads for all occasions. It should be noted that, although they confine you to the poor conditions when compared to the usual exchanges, they also rarely cheat you. Fortunately, client support is still available for everyone on the platform, regardless of their status. So, if you have a question or a problem, you can contact the support and they’ll most likely help. The only thing you won’t be able to do unless you sign up for a better account type is the help from analysts.

We would recommend that you just do your main buying and selling on the LexaTrade webtrader or the MT4 platform. If you need to monitor your positions on-the-go then you’ll be able to all the time check in on the mobile apps. It’s pretty comfortable to work here, barring all the treatment the lower account types have to put up with.

Meta Trader

You additionally get entry to some educational resources, including one primary lesson, every broker forex day market report, trading central, and two every day TC SMS alerts. When it involves webinars, this is the only tier that doesn’t offer any. Whether you are a novice or knowledgeable dealer, you will feel at residence buying and selling with LexaTrade.

Lastly, it charges daunting fees including a 5% commission from clients with less than 5 transactions. Its ultimatum for those inactive clients also came as a disadvantage as it charges 5% every month. LexaTrade is a financial solutions platform developed by Swissone Group Ltd. Its head office is located in St. Vincent and the Grenadines, a small island in the Caribbean known for its offshore status. With the absence of financial authorities, clients’ funds are exposed to intensive risk, say, for example, LexaTrade decided to shut down its business. The users who use it claim it’s a very good broker with responsive teams of support and clean reputation.

In the past, the corporate used to incentivize its customers by providing them the so-known as “LexaTrade Bonus”. This implies that purchasers virtually obtained free money for trading, which might later incur commission fees. With LexaTrade, you not only get skilled assist, but you also get private assistance.

Lexatrade Forex Broker: User Reviews

Yet still, there are many exchanges and brokers that give you just as comfortable an experience without making you pay extra. So trade historical past can be checked wherever a trader could also be. It is a slick trading app and is a superb addition to the vary of features provided by the model. It has been created with the dealer lexatrade reviews in mind, but has been thoughtfully developed to ensure it offers a full range of functions across a number of units. XCritical- Another external platform that LexaTrade offers is the xCritical system. It is equipped with powerful instruments for encompassing and holistic trading experience.

We also have a dedicated customer service staff who’s working day in time out to unravel all of your queries. Being a profitable subject, it has given rise to lots of frauds within the making which are promising traders with high returns which are greater than the average lot. This review was written to shed a light to some of the allegations about LexaTrade’s legitimacy. As the brokerage firm constantly faces negative feedback from its clients, it is necessary to conduct a thorough discussion of its services, offers, and overall functionality.

Subscribing to LexaTrade Forex Broker

The enormous leverage with which you’ll commerce may be very tempting, however deadly on your account. If you need to commerce with excessive trusted broker and reliable then we advocate you to trade with the iqoption. I made a several withdrawals from LexaTrade and every thing was all the time okay.

• While this may seem unfavorable for clients looking for well-regulated brokerage firms, it can be concluded that LexaTrade is still a decent broker.
• This restrictive policy is extended to other things also – the better parts of the broker are reserved for the more well-off customers.
• If you need to monitor your positions on-the-go then you’ll be able to all the time check in on the mobile apps.

The worst part is that many new merchants are still falling victims of such scams on a daily forex trading basis. See how LexaTradepares to the highest choices platforms by reading one of the evaluations beneath. While LexaTrade is equipped with impressive advantages, it still faces negative reviews. This may be from the company’s financial malpractice or maybe from competitors’ interest to drag LexaTrade down.

Trading with LexaTrade

To neutralize the backlash that LexaTrade faces, attached below are two positive reviews taken from the web. Similar to other brokerage firms, LexaTrade https://forex-reviews.org/lexatrade/ has its own set of benefits and setbacks. Lexatrade is registered on the New Grenadines – a very popular off-shore location, especially for brokers.

Regardless, we still have to consider the legal documentation presented in its official site. With license from IFMRRC, clients are ensured that all operations are legally binding and conducted under legitimate terms. Certainly, they don’t only differ based on the amount of money you need to trade. There are certain bonuses and restrictions which you can see by scrolling further down. What you’ll see is that Lexa heavily restricts pretty much everyone below the Gold status.

However, those who still only contemplate working with them should look elsewhere. Note that some of them are fairly high, but that’s precisely why there is such a detailed sheet – so you wouldn’t get caught unawares. And even this is very well done, and the local financial specialists are truly helpful most of the time. There are no loud complaints about cheating from Lexa, even though they are always abundant. But if it’s not fraudulent now, it is still domineering, uncomfortable and fishy.