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.
Is LexaTrade a Scam? Honest Review 2023
The broker doesn’t hide the fact that it’s trying to goad you into depositing more. LexaTrade is a financial trading platform that offers a range of financial instruments for traders to choose from, including contracts for difference (CFDs), foreign exchange (FX), and cryptocurrencies. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, including phone line and email. The support team is problem-solving and responds quickly, so the overall communication with the team was great.
Should I Open An Account With LexaTrade?
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. Overall, Lexatrade stands out as a reliable brokerage for forex and crypto traders, offering a solid combination of educational resources, customer support, and trading tools. While it has some drawbacks like limited geographical availability, its pros greatly outweigh the cons, making it a desirable choice for traders aiming for success in the financial markets.
Features
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. 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. 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. At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts.
Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. Lexatrade is a dynamic brokerage platform catering to both forex and crypto traders. With a user-friendly interface and a range of trading tools, Lexatrade aims to provide an exceptional trading experience for both novice and experienced traders alike. 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 charges a service charge of 5% when customers has made less than 5 independent transactions.
- Brokers required various licenses and regulators’ approval to serve investors and traders.
- 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.
- Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument.
- With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall.
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. Live chat support was available at the time of our visit but a bit slow to answer. Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits. lexatrade owner They even have affiliates who individually promote platforms to others and force them to invest maximum money. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.
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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.
LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. Members also engaged in health care fraud by having doctors issue unnecessary prescriptions for expensive compound cream, court papers say. The organization obtained roughly $3 million of contraband cigarettes and stole credit card information to make new fraudulent cards as well, according to the indictment. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Claim your profile to access Trustpilot’s free business tools and connect with customers. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.
Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. 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.
