This is taking into account my caution, I don’t buy everything in a row, I carefully monitor the news. 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.
The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. 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. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. 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. 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.
Review of the Day
Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more lexatrade comfortable and more powerful. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. For starters, the first two accounts are borderline unusable.
I have uploaded some moeny and post that they have locked my amount and i am nither withdraw nor able to trade. They are asking more money to upload to enable my account and not returning the amount that i have already uploaded. 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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the stuffy interface of Meta Trader.
Lexatrade has five different account types covering budget and high-end options. 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.
A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews. They make false promises and convince you to invest money with a minimum amount of $250 once u visit the site. They will do registration before even https://forexbroker-listing.com/ u cud understand them. N then…u r trapped… B sure ..ur money is gone within days… I lost my 250 dollars within night. At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny.
LexaTrade Photos
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. However, the translation itself is shoddy, so the website ends up looking unprofessional.
- They will do registration before even u cud understand them.
- Lexatrade offers full-time support with 24/7 operating hours.
- I have just started, so far I am good with the trading tools.
- Lexatrade has been serving my trade for 3 months now.
- That, along with the multiple phone lines, makes the broker easy to reach.
There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. That’s especially true if the bonus goes as high as it does at lexatrade.com. 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. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.
Customer Service at Lexatrade
So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers.
For those that are victim of online investment scam, i will recommend the help of janesilva0727 g mail com a recovery expert who helped me in getting back all my lost funds. There are way too many categories on lexatrade.com, and navigating around the website is challenging. The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.
I have just started, so far I am good with the trading tools. Haven’t had withdrawal yet but based on observation, brokers are skilled and easy to deal with. Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points. As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. The case with its funding is much of the same, as there are some things that look good.
Live chat support was available at the time of our visit but a bit slow to answer. 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. While the first account is cheap, lexatrade.com also robbed it of most features. As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.
They encourage you to extract maximum amount from you and then open deals conveniently to bring you down to “ALL RED” and refuse to return a single penny.
LexaTrade Review
Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options. Users caught spamming or abusing will be deleted from the site and prohibited from future registration at thatsucks.com and affiliates. We recommend staying within the range of good taste and respectful language to avoid any unpleasantness.
That being said, they are very new at the time of this review, so there is time for improvement. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. 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.
The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. However, better options are present online, and it’s easy for most traders to switch. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. 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.
Even the personal manager engaged for help do not bother for small traders. This broker offers a balanced mix of functionality and user-friendliness. 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.