Reviews: Learn to Trade Forex with cTrader IMDb

Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are popular among traders due to their advanced features, which are defined below. Our algorithm used powerful factors that analyzed in-depth the company’s website, in this case lexatrade.com.

The deposits are instant, while the withdrawal may take up to 3-5 business days to process. In my opinion, the platform should incorporate more payment methods. To deliver the most in-depth and unbiased verdict on the platform, we had taken it upon ourselves to conduct a comprehensive evaluation of LexaTrade’s offers and services. However, they’ve at least published a table showing the spreads they charge for different asset pairs.

Lexatrade Review: Is Lexa Trade a Scam Broker?

Additionally, the one thing that I disliked about the platform is that its standard account holders don’t have access to Cryptocurrencies. The platform supports all major payment methods for deposits and withdrawals, including bank wire, credit /debit cards, Skrill, Neteller and OrangePay. Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back. Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits.

And without the broker specifying the times, who knows how long it might take for you to get your money. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock. As the platform 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.

LexaTrade Product Features

LexaTrade provides a detailed spread table where the clients may easily compare and inquire the spreads of different instruments in different platforms. We can see that the VIP account has the most competitive spreads. 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. As such, our Lexatrade review isn’t off to the greatest start.

However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. The cheapest option is $250 while the most expensive is $100,000. There are also other newbie-baiting features, such as the bonus that Lexatrade offers.

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So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam. That isn’t an exact rule, but it’s something we’ve found to be true more often than not.

• Bonus programs, low spreads, 0% commission, multi-language call center.
• LexaTrade broker is essentially saying that they will only give you your profit when you have attained their required volume of trades.
• So there’s the argument that some regulation is better than none, and that does hold up.
• Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together.
• It opened just earlier this year and has attracted a good bit of attention as such.

Either balance gets zero or unable to withdraw funds due to invalid reasons. But Lexatrade is severing the whole world through its website. It is registered in Saint Vincent and the Grenadines which makes no sense. At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts.

Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform. 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. Furthermore, while there are some solid conditions, they all come with high price points. And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better. The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features.

Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it claims to hold a license from the International Financial Market Relations Regulation Center (IFMRRC). Despite this, it is an off-shore broker restricted to operate in the US and Europe.

Lexa Trade(owned by Swissone Group Ltd) is a forex broker with trading platforms of xCritical Mobile App, Metatrader 4 (MT4) and proprietary Web Trader. 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. Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument. The spread varies depending on the account type and the financial instrument being traded. LexaTrade began by managing cash transactions in real-time trading using PAMM accounts.

What you get is essentially a safe service that flushes your personal information from the Internet and enforces existing data privacy laws. If you feel the 75.80 rating should be different (either lower or higher), please contribute with some comments. The education centre includes video courses and E-books, while the questionnaire section offers all the questions related to customer’s feedback on the https://traderoom.info/ platform. LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations.

When I invest 350s, I immediately get the indices and the operations resolved to make me lose my money. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages.

However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. However, for a newer trader, the website may look too daunting. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage.

Other powerful elements include, but are not limited to, Alexa rank, IP address, SSL certificate, and presence on fraud forums and bulletins. 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. The LexaTrade referral program activates when you invite your friend to sign up for the platform. For each successful deposit your friend made, you’ll receive up to 50% of the entire amount. Instead of falling for the LexaTrade scam, we recommend you to start with a more trusted platform like InvestFW.

The minimum deposit at LexaTrade is $250, a slightly higher in this competitive world, with many offering accounts opening at $0. LexaTrade is a leading brokerage platform that allows global traders to access various financial markets, including Forex, Commodities, Indices and Stocks. However, the broker has a low user rating, with many complaining about the platform while others appraising it.

Please read lexatrade reviews below and share your live trading experiences with this broker. Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. LexaTrade has a referral program in which you’ll receive up to 50% deposit amount as a commission.

After analyzing the detailed LexaTrade review, we can say the company is totally a scam. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries. The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam. 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.