LexaTrade is a global online trading platform offering a range of financial instruments, including forex, commodities, indices, cryptocurrencies, and stocks. It aims to attract traders with promises of high leverage, multiple account types, and extensive educational resources. However, LexaTrade has been the subject of mixed reviews due to concerns about its regulatory status and business practices. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice.
What is the maximum deposit required for an account on LexTrade?
- Users advise LexaTrade to review their minimum deposits against the offers found in each of their trading accounts.
- 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.
- These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform.
- This encryption ensures that your personal and financial information remains private when making deposits, withdrawals, or logging into the trading platform.
- Trading carries a high level of risk and may not be suitable for all investors.
I stongly recoonamd everyone to dont waste money with this fraud company. LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. I have been trading on the market for 5 years, of which almost 2 years on LexaTrade. In legitimate platforms, fees are typically clear and transparent from the beginning.
Deposit and Withdrawal Fees:
But most of the negative reviews are concentrated on Social Media, where you can write “I was scammed by LexaTrade” without any proof. In all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course there are questions, but after correspondence with tech support everything is successfully resolved. Everyone should understand how to distinguish a good broker from those that are often considered scammers and why forex is a scam.
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 educational resources are useful for beginners but lack depth for advanced traders seeking sophisticated strategies or detailed research. The variety of instruments allows traders to diversify their portfolios, but the depth and range are average compared to industry leaders.
One of the primary concerns with LexaTrade is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others. This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds. While regulation alone does not determine a scam, it is an essential factor to consider. Dealing with an unregulated company like LexaTrade increases the risk factor of your money. Once the money is deposited with it, it stops responding to the queries..
If, in general terms, the company works honestly, and I would not find any illegal actions. It is not necessary to wait for some news, and the market is moving unpredictably. Having said this, the LexaTrade user and the reader of review are recommended to practice greater regard on research and due diligence. Such can be observed through actual conversations through the forums or actual face-to-face communication. Of course, these individuals should have an actual live LexaTrade account they have used for a considerable period of time. While LexaTrade reviews may be considered to topple the negative bandwagon against forex broker, it does not change that all reviews found online are polarizing and altogether divisive.
Therefore, we do not recommend you to invest money with LexaTrade. 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 links that were included in the quoted testimonies will direct the readers to actual existing, live, and legitimate sites.
Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words
In conclusion, while the promise of easy trading may be tempting, LexaTrade is fraught with risks that make it unsuitable for investors who prioritize security and legitimacy. Given the abundance of warning signs, potential investors are advised to avoid LexaTrade. Numerous reports indicate that this platform may be a scam, with serious issues related to funds accessibility, aggressive tactics, and regulatory opacity. For those looking to enter the trading market, many reputable and transparent platforms offer safer and more secure services.
We do not provide investment advice or solicitation of any kind to buy or sell any investment products. Trading carries a high level of risk and may not be suitable for all investors. You should consider whether you understand the risks involved. MT4 is the platform of choice for professional traders, while the proprietary platform caters more to beginners. However, the proprietary platform’s lack of sophistication may not satisfy advanced users. Organic search for reviews reveal that positive and reasonable reviews are actually outweighed by negative ones.
LexaTrade offers a competitive range of trading instruments and features, making it a suitable choice for both beginner and experienced traders. The platform’s user-friendly design, multiple account options, and access to popular trading platforms such as WebTrader and MT4 make it an attractive option. However, the lack of major regulatory oversight could be a concern for some traders who prioritize security and transparency. LexaTrade markets itself as a broker suitable for both beginner and experienced traders. It provides access to trading in over 200 financial instruments and claims to support traders with educational materials, advanced trading platforms, and a variety of tools for market analysis.
- The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks.
- Remaining alert and wary of such shortcomings should take precedence.
- Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
Interactive Brokers
Overall this is a promising broker but a few tweaks here and there would make it a better one. Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement. The overall structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform. 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.
Several red flags have emerged from user experiences that cast doubt on LexaTrade’s legitimacy, making it essential to understand these warning signs before investing any money. LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips. However, fees and spreads may vary depending on the account type and the asset being traded. The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets. One of the first things traders look for when choosing a broker is regulation and security. Regulation ensures that the broker adheres to strict financial rules and guidelines, which ultimately protects traders’ funds and personal information.
Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability. The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall.
Lexatrade official site has an intuitive interface with all the access to the inner pages accessible through the fields that can be seen on the top most part of the landing page. It is complete with all descriptions of LexaTrade’s offers, its website tools, and legal documents ensure safe trading with the broker. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Whilst we try to keep information accurate and up to date, things can change without notice and therefore you should do your own research.
After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds. The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. LexaTrade advertises several account types, from basic to VIP, each with distinct perks. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Trading and investing in financial instruments comes with a high degree of risk and you can lose money.
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 lexatrade review that the broker locks the MT4 platform behind the more expensive account types. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
Customer Support
A mobile platform is available but Demo accounts are not; US traders are not accepted. The financial products offered by the companies listed on this site pose a high risk and can lead to the loss of all your funds. When trading stocks, CFDs, or other derivatives, consider whether you understand the function of differential contracts and be aware of the high risk of losing your funds.
