It is registered in Saint Vincent and the Grenadines which makes no sense. At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts. As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus.
All Scam Reports Team is here to help you out in this situation of fund recovery. All you need to do is to fill out a small complaint form and we will be in touch with you shortly with a Free consultation. All Scam Reports Team advises the user to avoid investing here, as we have found that the LexaTrade broker is suspicious, and operating without any legal license. There has been proof of some suspicious activities similar to the signs mentioned in the LexaTrade review. Finally, there have been numerous reports of clients having difficulty withdrawing their funds from LexaTrade platform, which is a common sign of a potential scam.
They vary in features but are all promoting convenient and secure trading. Lexatrade offers full-time support with 24/7 operating hours. We advise you to do a search for online reviews of brokers. A conventional web search can give experiences into whether negative remarks could simply be a disappointed dealer or something more serious. A decent enhancement to this kind of search is our scam brokers 2022 list, which indicates who scam brokers are and why you should avoid them. Acquire a more clear comprehension of the guidelines for forex brokers and any other brokers.
When searching for brokers to conduct your trading activities with, the first and most important step should always be to learn about their certification. This will tell you whether they areregulated by a central authority or if LexaTrade is an offshoreand/orunregulated entity. Here are some of the possible reasons why we have flagged this broker as a scam broker in this LexaTrade review. It offers you effective protection from viruses and zero-day threats, a lightweight, clean, and easy-to-use app, and a 30-day money-back guarantee. If we look – for example – at a winery page, we don’t rate the wine’s tastiness, but how the company sells it online (delivery, shipping, etc.).
The technical storage or access that is used exclusively for anonymous statistical purposes. LexaTrade provides a mulitlingual customer support 24/7 to deal with all queries via live chat, email and telephone. Will forcefully encourage investors to make additional trades. No, it is currently not effectively regulated and you are advised to be aware of its potential risks.
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. However, it is an offshore broker restricted to operating in the US and Europe. The platform supports all major payment methods for deposits and withdrawals, including bank wire, credit /debit cards, Skrill, Neteller and OrangePay. The minimum deposit at LexaTrade is $250, a slightly higher in this competitive world, with many offering accounts opening at $0.
How does lexatrade works?
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. But Lexatrade is severing the whole world through its website.
- Yes, if you can send you platform chart trading with them, it will be easy and please try sending your email, so we can reach you easily.
- We recommend researching a wide range of sources before using these services.
- Video courses and E-books, while the questionnaire section offers all the questions related to customer’s feedback on the platform.
- We researched a lot about brokers to assist customers in taking the right decision.
Although we do daily broker reviews, we’ve never heard of it before. Lexatrade offers personal account managers to its users and they help in trading. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. 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. Our mission is to assist millions of traders in finding the best broker.
In-depth look at the platform with our detailed LexaTrade review.
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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. The spread varies depending on the account type and the financial instrument being traded. We are back with our unbiased review of LexaTrade, an online trading broker company. I registered with them by depositing $250USD and play couple of trade and earned $236usd. They tell me rubbish rules which they did not inform at the time of joining.
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. Brokers required various licenses and regulators’ approval to serve investors and traders. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.
Lexatrade Review: Is Lexa Trade a Scam Broker?
Perhaps the best part is that anyone that signs up with them can watch the tutorials and there are no hidden clauses. lexatrade scam is owned and operated by Swissone Group limited. The parent organisation is registered in Saint Vincent and the Grenadines. Practically speaking, they are not regulated, but over the years the kind of reputation they have earned tells us a lot about them. I asked why will he trade with all my money as the norm is for him to trade with fraction of my capital per time.
The same goes for visuals, as the various elements are glaringly mismatched. It looks like the broker took stock images, put them in boxes, and called it a day. Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together. Many people have complained that LexaTrade has locked or stolen their funds.
It is also important to note that there has been multiple bad reports about lexatrade being scam by different individuals in different countries. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
The broker offers a dedicated section for research support, namely Traders Centre. Under the section, you’ll find a long list of advanced trading tools, which can help you trade more efficiently. We listed lots of them not to confuse traders but to give a weighted and fair viewpoint on the brokerage. As this is the case, the traders are advised to take all claims quoted here with a grain of salt. Despite all reviews, it is strongly recommended to make decisions and build a strategy independently. Without regulation, there’s no guarantee that LexaTrade is operating in a fair and transparent manner.
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. Also keep in mind that the company is regulated , 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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.
Therefore it is significant to figure out about LexaTrade before investing your money. Despite what any LexaTrade review has told you, LexaTrade is a suspected scam. Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent.
We recommend staying within the range of good taste and respectful language to avoid any unpleasantness. Needs to review the security of your connection before proceeding. Video courses and E-books, while the questionnaire section offers all the questions related to customer’s feedback on the platform. MT4 is probably the world’s most renowned trading platform for Forex. Additionally, the one thing that I disliked about the platform is that its standard account holders don’t have access to Cryptocurrencies.
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The investors have accused them of being scam brokers and state how they have been victims of the LexaTrade scam and lost all their money and efforts to them. It’s worth noting that online trading can be risky, and you can potentially lose all of your invested funds. It’s essential to conduct thorough research and understand the risks involved before using LexaTrade or any other online trading platform. Additionally, as LexaTrade is not a regulated broker, it’s crucial to be cautious and to consider seeking professional financial advice before making any investment decisions. First and foremost, it’s important to note that LexaTrade is not a regulated broker.