Lexatrade Review Is it good, or is it a scam?

We’ll see if the broker’s functional prowess ends up improving what we think. For your convenient and effective trading, we have developed and implemented a new online platform. Use all the capabilities of the terminal and make profit with minimal risks. Every single one of our instructors has gone from a beginner to a practicing trader. They know what sort of difficulties you may encounter and are only too happy to share their experience with you.

Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. 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. The broker’s offer does actually seem decent enough, but the presentation isn’t up to par.

  • This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.
  • Overall this is a promising broker but a few tweaks here and there would make it a better one.
  • 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.

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. However, it is an offshore broker restricted to operating in the US and Europe. The platform supports  bank wire, credit /debit cards, Skrill, Neteller and OrangePay for both deposits and withdrawals. LexaTrade offers tight spreads which ensures competitive trading costs. It lowers risk diversification as well by investing in the basket of different stocks of various companies and sectors. LexaTrade offers several trading instruments to choose from, with high leverage and low spreads for high liquidity and profits.

Lexatrade’s Trading Platform

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 minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

  • For your convenient and effective trading, we have developed and implemented a new online platform.
  • Webinars with experts, video lessons, and training materials have been selected and grouped according to the student’s level of competence.
  • Caring for our clients, our company makes every effort to optimize the trading processes and services provided.
  • Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.

The platform also offers customizable charting, allowing users to tailor the charts based on different timeframes. A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005. 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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.

LexaTrade Withdrawal

You can watch the experts trade, get answers to your questions and comments on trading strategies. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. This includes video courses and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform.

ACCOUNTS OFFERED BY LEXATRADE

It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options. Lexatrade has launched a universal course for investors with any experience. The promotion is applicable for deposit amounts ranging from $500 to $5,000. The insurance covers upto 100% of total loss on all trades opened on the deposit day. We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict.

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. XCritical’s trading platform quickly gained popularity thanks to its innovative features that expanded our traders’ capabilities. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.

We make sure that for every 20% of theory our students are given 80% of practical examples that are bound to come in handy in real trading. The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.

They can open positions, execute trades quickly, and monitor their account balance from anywhere, at any time. Whether a beginner or an experienced trader, the XCritical mobile app is a great way to enhance your trading experience. This broker offers a balanced mix of functionality and user-friendliness. 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. 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.

LexaTrade Review 2023: Is It A Scam Or Legit Broker? Unbiased Review

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. 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.

That isn’t an exact rule, but it’s something we’ve found to be true more often than not. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another lexatrade brokerage. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well. However, the translation itself is shoddy, so the website ends up looking unprofessional.

The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges. The genuine  features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs. 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.

Metherworld: Exploring it’s Trading Expertise and Mcoin

In order to attract more traders on the platform, LexaTrade often starts promotions. There is not a single complaint regarding the same, so, we can rate it good in this case. The platform allows traders to access all popular commodities worldwide.

Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam.


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *