They will only waste your time and cost you money that you could have avoided by putting in the time for some research. As they say, it’s never too late, so it’s a good thing you’ve set aside some time for learning more about Lexatrade. It’s good to do some research beforehand just so you don’t fall for the wrong product. It’s better to put in some time and effort researching something than lose money and time on something that doesn’t work.

My #1 Recommendation for Making Money Online in 2024

It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including LexaTrade. Trading with them would likely result in you losing yourmoney. There is a tremendous risk on any transactions interested traders mayconclude with the brokerage and we deeply recommend they look elsewhere forviable is lexatrade legit trading option. I invested online to this company which I got stuck having challenges of posting withdrawal of my investment profit,I sent Vickers Mark all he needed to place a refvnd and I got a call by the bank… The platform also offers customizable charting, allowing users to tailor the charts based on different timeframes.

Is LexaTrade a regulated authority?

After a lengthy and extensive probe into the services and LexaTrade Forex brokers reviews, let us sum up the advantages and disadvantages of LexaTrade as a broker. The Web platform displays 170 trading instruments, charts, and order management tools to monitor trading positions and technical adviser Autochartist effectively. Aside from hefty welcome bonuses ranging from 30% to 120% of initial deposit, LexaTrade also gives a referral bonus. This is awarded to a trader who refers a friend to trade with broker. Up to 50% of the total amount of the referred client’s initial deposit will be awarded to the referring trader. You can use the cash and invest a portion into other business models that you’re fascinated by.

LexaTrade Trading Platform

Users have reported issues ranging from difficulties withdrawing funds to unexpected fees and unresponsive customer support. Many traders express frustration and regret for choosing LexaTrade as their trading platform, indicating a consistent pattern of dissatisfaction and potential malpractice. 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.

Some call Lexatrade a scam and then there are some who call it legitimate. Lexatrade works and can get the job done but there are better alternatives if you know where to look. If you’re wondering if Lexatrade is legitimate or a scam, you’ve come to the right place. But of course, with the online reviews altogether polarizing, how does one filter the truth from fabrication? According to documents on LexaTrade official site, it is an officially registered company. It operates under the Swissone Group Ltd., which is based within St. Vincent and the Grenadines.

LexaTrade’s live chat through its trading platform is complemented with other social media platforms, including Skype and email, as additional means of communication. This enables safe trading using modern technologies and does not require downloading and installing platform software. MT4 Terminal is compatible with any desktop computer and operating system. It has listing charts for changing time ranges and combines many commercial operations.

We wouldn’t recommend using this forex brokerage, they donot impress us with the vague information they have provided. This broker claims to be in Saint Vincent and theGrenadines. Broker Complaint Alert helps victims of investment fraud, forex scams, crypto scams, and any type of fraud that happened to you.

Even the withdrawal speeds increase as you go up to the higher accounts. And without the broker specifying the times, who knows how long it might take for you to get your money. 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. We will feature some feedback and LexaTrade broker reviews of current clients to give us some first-hand experiences with the broker and how they feel toward their service provider. LexaTrade has often been found on the negative side of things when it comes to client reviews.

The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. Browsing broker’s official site, Lexatarde asserted the legality of its business operation and its regulatory compliance with the International Financial Market Relations Regulation Center (IFMRRC). Reading this LexaTrade review permits interested traders and companies with the brokerage https://turbo-tax.org/ to gain a perspective of LexaTrade. If it had not been made clear yet, believing the tags such as “LexaTrade courses scam” and “LexaTrade cheating” is simply oversimplifying one’s understanding of how brokering works. It is possible that LexaTrade had been misunderstood and misrepresented in new media. I have been trading on the market for five years, of which almost two years on LexaTrade.

Despite all reviews, it is strongly recommended to make decisions and build a strategy independently. XCritical platform is favored by 8 out of 10 traders in the Forex trading industry. Through its mobile platform, LexaTrade users can experience the myriad of tools that the PC version had, including several trading signals and a highly-intuitive and neat interface. XCritical mobile platform is an alternative to PC terminals.

Selecting something that’s a little more guaranteed is the way to go as it’s the more sustainable option. One more thing, I found out that brokers registered in offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines, and this threatens me. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction. This website is using a security service to protect itself from online attacks.

Amassing more clients in the following years, LexaTrade extended its services to different jurisdictions across continents. In 2019, LexaTrade reached more than 2 million merchants worldwide. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language.

We’ll see if the broker’s functional prowess ends up improving what we think. 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. The main Internet resource of the company LexaTrade is a commercial project.

  1. 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.
  2. I did not notice any problems with this broker, with the exception of sales managers.
  3. The company made this site to attract as many traders as possible.

A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005. LexaTrade has often been found on the wrong end of maligning client reviews. However, it is crucial to note that not all client reviews came from the real clients of the broker.

The broker set up strict payment procedures for the safety of the trader’s funds and to prevent financial theft. The broker even partners with reliable and trusted international banking institutions while steering their corporate funds. LexaTrade has been under scrutiny within the trading community, with increasing concerns regarding its legitimacy. Traders and investors are questioning whether LexaTrade is a reliable platform or if it conceals a sophisticated scam. However, better options are present online, and it’s easy for most traders to switch. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.

In terms of financial instruments, account type gives users access to forex, cryptocurrency, commodities, and limited stock assets. Lastly, reduced spreads can be accessed using this account. LexaTrade offers trading instruments in stocks, shares, commodities, and foreign exchange markets.

In comments on one forum, I read the information that «LexaTrade courses scam,» fraud, etc. Then he learned from a friend working with this company that all this is complete nonsense. As a result, I opened an account there, on which I have been trading for six months.

Yet, questions remain whether this regulatory affiliation is strong enough to set aside fears of losing trading funds of clients in the event of insolvency. Fortunately, IFMRRC features a Compensation Fund scheme to be observed by all its 49 regulated brokers, including LexaTrade. The broker is headquartered in Saint Vincent and the Grenadines, a popular domicile to offshore brokers (since most brokers based in Saint Vincent and the Grenadines are unregulated brokers). Its first year of operation revolved around managing cash transactions in real-time trading using PAMM accounts. It then enhanced its offered trading solutions and its trading assets and instruments in the following years and groomed itself to become an emerging online brokerage brand.