LexaTrade Review 2023: Is It A Scam? Unbiased Review

LexaTrade Review

The broker offers a web-based proprietary platform that lets users experience advanced trading. It claims to offer advanced trading tools, increased speed and safety. LexaTrade is a leading brokerage platform that allows global traders to access various financial markets, including Forex, Commodities, Indices and Stocks.

LexaTrade Review

And even then, you only get the web version, and you need the $50,000 account for the full unlock. The company charges a service charge of 5% if users make less than 5 independent transactions. If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit. 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. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.

Can I Get My Money Back From LexaTrade?

As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. And if you’re unfamiliar with what IFMRRC is, we don’t blame you. Although we do daily broker reviews, we’ve never heard of it before. After analyzing the detailed LexaTrade review, we can say the company is totally a scam.

Are there fake trading websites?

Fake and unregulated cryptocurrency exchanges scam potential victims by posing as legitimate exchanges. Scam exchanges often lure users with a celebrity endorsement, unsolicited phone calls, or emails promising extraordinary returns on investments.

If you’ve been following our detailed Lexatrade review 2023, you have likely noticed the platform has not much to offer to its users. However, zero fees on the trades is still the USP of the platform. The broker has a low user ratings of 2.1, which clearly shows the platform’s low credibility.

How To Open An LexaTrade Account?

LexaTrade began by managing cash transactions in real-time trading using PAMM accounts. Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand. As the platform LexaTrade Review is not worth considering, I was looking for the best alternative, and after researching for days, the most recommended broker I found was InvestFw. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam.

  • This company does not do its job well, and pretends to be a broker that does not give returns at all.
  • The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.
  • Therefore, both beginners and experienced traders can find what they want to trade on LexaTrade.
  • For each successful deposit your friend made, you’ll receive up to 50% of the entire amount.
  • 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.

MT4 is probably the world’s most renowned trading platform for Forex. The user-friendly UI of the platform caters to the https://investmentsanalysis.info/ needs of both beginner and professional alike. The platform allows traders to access all popular commodities worldwide.

NewsWIKIFX REPORT: How To Connect To Lexatrade Via Quantower

Brokers required various licenses and regulators’ approval to serve investors and traders. Lexatrade offers personal account managers to its users and they help in trading. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.

  • 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.
  • Please read LexaTrade Reviews below and share your live trading experiences with this broker.
  • Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions.
  • The platform is relatively new in comparison to some prominent names already dominating the forex industry.
  • For what it’s worth, the internet community is rife with lies and falsified news.

But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.

Forex Trading Platform

Currency pairs, indices, commodities, metals, energy, stocks…..LexaTrade allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on LexaTrade. And that’s without mentioning our hunch that the broker isn’t entirely honest. Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful.

We offer favorable terms that allow you to take control of your money. A variety of trading tools, automatic signals about profitable transactions. Low spreads, 0% commission, bonus programs, multi-language call centre. We will give you an additional $1,500 when you open a new account with $5,000.

How to trade with $100?

  1. Look for high-probability trade setups.
  2. Don't place your stops too tight.
  3. Don't shoot for high reward-to-risk ratios.
  4. Manage your trades actively.
  5. Follow your trading plan.
  6. Review your trades.
  7. Grow your account responsibly.

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