It is not the money that I am worrying it is the act and their tactics that matter i have also encountered very suspicious behavior like spread widening synchronicities while in profit Traders please be aware. Yes – you can create a free demo account with LexaTrade. This account is filled with virtual funds and thus lets you test all trading features. Some commodities like oil, gold, and silver are offered to trade with LexaTrade.
European traders have to trade with the English license or CySEC license, which brings further benefits. On the other side, international traders have to choose the FSA license. Also worth noting is that the LexaTrade official website, which is user friendly, contains a lot of helpful materials about the company, trading terms, licenses, analytics and training information.
Connect directly to the world of Futures with no frills via regulated trading exchanges including the world leading CME Group. Reported the scam to FSA and FCA which regulates this scammer. Also have posted this message in hundreds of forums to warn all traders. What percentage of your initial deposit the broker will give you as a bonus. In summary, the support from LexaTrade is very good and professional.
With the online finance market experiencing a huge customer base, it has been difficult for the regulators to bifurcate the legit brokers from the scam brokers. This is where we come to help; our team of research specialists put together all the information and conclude the decision based on the number of problems and risks they pose to the customers.
In our research, we also investigated the customer service of this broker. This section of our LexaTrade review will look at the quality of the customer satisfaction factor when one uses it. The clients of the LexaTrade mobile app can directly trade from the chart. They are also allowed to access multiple asset classes while using many types of trading indicators.
Any payments funded to LexaTrade accounts by traders are held in a segregated bank account. Tier 1 is the official measure of a banks financial health and strength. A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account. If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due. Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. A minimum deposit is the minimum amount of money required by LexaTrade to open a new online brokerage account with them.
For instance, when a user makes a withdrawal request from the client area, the withdrawal will be processed in the base currency of your account. The deposit and withdrawal can be made directly from the client area. The process of deposit and withdrawal, ranges from an instant to 24 hours depending on the method of deposit or withdrawal and the country of operation. The time taken for a bank transfer may differ from a transfer through other methods.
Top Regulated Trading Platforms
What a liars and cheaters, trading business itself is very difficult, on top of that LexaTrade want to cheat clients by stealing money with their exchange rate. Instead of going all fancy and offering proprietary trading software, LexaTrade chose a safer and more trustworthy route and gone with MetaTrader 4. MT4 is a well-tested and widely-used platform that has proven to be the most effective software across the board. What’s more, the broker also offers the MT4-based WebTrader that works on all major web browsers. LexaTrade provides negative balance protectionfor retail customers. If the balance on your account goes negative, you will be protected. We also compared LexaTrade’s fees with those of two similar brokers we selected, AxiTrader and FXCM.
- The trading experience is unique with this broker and you save a lot of money on the order execution.
- LexaTrade also clearly state on their platform that Your capital is at risk.
- We also use third-party cookies that help us analyze and understand how you use this website.
- For withdraw on local payment option, only ‘ india instant payment ‘ option and ” smart india pay” only these are available, and the exchange rate is worst.
- Additionally, LexaTrade offers customers full usage of Islamic accounts, and demonstration accounts around every one of the account types.
- LexaTrade also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.
LexaTrade is a globally established CFD and forex brokerage firm with 160,000+ clients around the world. Founded in 2014, the company has various branches and employs over 150 people in their firm. You can trade in the trading platform as low as 0.01 lot. This is a very small position size and the risk is in most cases only a few cents high.
Forex Peace Army
We could not find out if charges and fees apply on withdrawals. The desktop platform is very similar to the web trading platform. It offers a conducive trading environment and users do not have to incur any transaction cost.
The typical spread in the EUR/USD is only 0.00 – 0.01 pips small and the commission is a maximum of $ 2 per traded $ 100,000 in the pro account. This website may have financial affiliations with some of the brands and companies mentioned on this website.
I Am Not Happy With Your Company
LexaTrade remains a well-respected brokerage, where the security of its traders remains paramount, suggesting that the FSA-authorized subsidiary provides a solid option for most traders. Forex traders will profit from the instinctive MetaTrader 4 stage on iOS, Android, Windows and Mac OS X platforms.
That said, LexaTrade offers very competitive commission-based pricing for professionals through its VIP and PRO accounts. While there is clearly a vast amount of untapped potential at LexaTrade, management should find a way to access that potential in an effort to attract top forex brokers new traders and retain existing ones. An extensive video library of tutorials is available, with content in English, Spanish, German, Arabic and Russian. LexaTrade might want to consider segregating the videos by language for easy access to the myriad of topics.
Various account types are all readily available to traders including the Classic Account, the Pro Account, and also the VIP Account. LexaTrade striving to reach success trading among their client, hence they do not impose lexatrade cheating restrictions on profitability and allows all trading strategies including hedging, scalping and arbitrage. Nevertheless, be sure to verify conditions with particular entity regulatory restrictions as those may apply.
A violation of the policy means in most cases a direct loss of the license. The broker is regulated by the FCA in UK, CySEC in Cyprus and the FSA in Seychelles. This is an assurance that there is no LexaTrade scam because if there was, then the broker wouldn’t have been regulated by such reputable organizations. And yet, is LexaTrade a scam or a dignified startup broker, which is certainly worth to be looked at? One of the lexatrade courses scam startup Forex brokers, successfully providing a trader with low spreads, STP and DMA technologies etc. The material does not contain investment advice or an investment recommendation,or, an offer of or solicitation for, a transaction in any financial instrument. Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East.