That’s especially true if the bonus goes as high as it does at lexatrade.com. Later, other persons claiming to be working for the same firm contacted the victim through Skype calls and encouraged him to invest money in their firm. LexaTrade utilizes the most popular third-party platform in the market.
This people will lure you to come and invest with them after promising you a huge return of interest but will still held your withdrawal at the end. While we cannot fully dismiss the possible fraudulent activities, we also have to take into account their reliability and if these claims have substantial bases. To neutralize the backlash that LexaTrade faces, attached below are two positive reviews taken from the web.
Customer Service at Lexatrade
Traders are advised to avoid brokers who charge unnecessary fees for the use of their services. Assuming you deposited $100 and lost 60% of the funds and attempted to withdraw $40, Lexa Trade broker would never process such withdrawal request. LexaTrade claims to offer the tightest spread in the industry.
The financial products offered by the companies listed on this site pose a high risk and can lead to the loss of all your funds. For those that are victim of online investment scam, i will recommend the help of janesilva0727 g mail com a recovery expert who helped me in getting back all my lost funds. Lexatrade offers full-time support with 24/7 operating hours. That, along with the multiple phone lines, makes the broker easy to reach.
First trial accountwith profit
However, you can only unlock MT4 after depositing $10,000. And even then, you only get the web version, and you need the $50,000 account for the full unlock. LexaTrade is a financial solutions platform developed by Swissone Group Ltd. Its head office is located in St. Vincent and the Grenadines, a small island in the Caribbean known for its offshore status.
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 data contained in this website may not be real-time and accurate. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. When trading stocks, CFDs, or other derivatives, consider whether you understand the function of differential contracts and be aware of the high risk of losing your funds.
- After going through successful evaluation, clients are given their login information and may already start live trading.
- Below are some of the perks that clients will surely enjoy.
- The same goes for visuals, as the various elements are glaringly mismatched.
- LexaTrade provides a detailed spread table where the clients may easily compare and inquire the spreads of different instruments in different platforms.
- As a result, I opened an account there, on which I have been trading for six months.
A lexatrade platform is available but Demo accounts are not; US traders are not accepted. Also keep in mind that the company is regulated , 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. The charges are comparatively higher than the platform we have reviewed so far. The spreads vary on the account type and instrument you trade in.
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 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.
However, it claims to hold a license from the International Financial Market Relations Regulation Center . Despite this, it is an off-shore broker restricted to operate in the US and Europe. In-depth look at the platform with our detailed LexaTrade review.
Hyderabad techie duped of Rs 15.17 lakh – The New Indian Express
Hyderabad techie duped of Rs 15.17 lakh.
Posted: Fri, 12 Mar 2021 08:00:00 GMT [source]
In addition to this, clients’ queries are given resolution in an untimely manner, which only adds to reasons why it has been receiving negative feedback from its clients. Lastly, it charges daunting fees including a 5% commission from clients with less than 5 transactions. Its ultimatum for those inactive clients also came as a disadvantage as it charges 5% every month. No, but many people are still sitting on the fence about them. LexaTrade has its own set of merits and demerits just like every other platform. It is not fair to judge them solely based upon a single factor.
Could you please help me find out if this broker offers Islamic Accounts or they actually charge swap fees?
The platform is relatively new in comparison to some prominent names already dominating the forex industry. However, it quickly garnered popularity among traders, thanks to one-of-a-kind features and the services. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders.
Since they persuade to open account, after I do know of them attend to my email again. At our webinars, you get information directly from market professionals. You can watch the experts trade, get answers to your questions and comments on trading strategies.
LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. 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.
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. 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.
Regardless, we still have to consider the legal documentation presented in its official site. With license from IFMRRC, clients are ensured that all operations are legally binding and conducted under legitimate terms. They offer a lot of instruments to the retail side with reasonable costs. Plus, the additional tools and bonus packages makes them a dominant player in the sector. Unfortunately, things like investor compensation funds and segregated bank accounts are not present. On the bright side, they do make up for it by offering a ton of funding and payment methods.
The insurance covers upto 100% of total loss on all trades opened on the deposit day. Instead of falling for the LexaTrade scam, we recommend you to start with a more trusted platform like InvestFW. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. Comprehensive evaluation of LexaTrade’s offers and services.
Nonetheless, it is not something that can be categorised as a complete deal breaker. Payment methods supported by them are wire transfers, debit or credit cards and e-wallets. There might be charges present so, check with the platform before you proceed. Lastly, know that information about dormant fees is not mentioned. Yes, if you can send your platform chart trading with them, it will be easy and please try sending your email also, so we be able to reach you easily.