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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. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. 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.
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. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts.
LexaTrade Ratings
The server operator Almina Corp as is not a registered broker, investment advisor or broker. LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. Protect your account by adding an extra layer of security.
The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines , 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.
Regulation
Either balance gets zero or unable to withdraw funds due to invalid reasons. Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making. LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions. 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.
- The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review.
- As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus.
- 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.
- A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages.
And even then, you only get the web version, and you need the $50,000 account for the full unlock. 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. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.
Is LexaTrade a Scam? Honest Review 2023
He saves me and I believe he can also save others who have run into loss. They even have affiliates who individually promote platforms lexatrade review to others and force them to invest maximum money. Many people have complained that LexaTrade has locked or stolen their funds.
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. 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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the 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 is a scam company and it is going to close sooner.
They are asking more money to upload to enable my account and not returning the amount that i have already uploaded. 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 cheapest option is $250 while the most expensive is $100,000. Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement.
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. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. The case with its funding is much of the same, as there are some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. Also, the spreads on the VIP account are relatively tight. We aren’t the biggest fan of the huge jumps between the sums you need for different account types.
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. I was so frustrated and giving up on my money when Mr. Tony Luis came to my rescue and helped me out with the issue. I would have been in a big mess if I had not met Mr. Tony Luis ( ) personal email, I wish to recommend Mr. Tony to anyone in recovery of loss.
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. 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 , 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. Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program.
LexaTrade Withdrawal
As such, we can’t hold the deposit requirement for MT4 against the broker too much. 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. As such, our Lexatrade review isn’t off to the greatest start.
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Even the personal manager engaged for help do not bother for small traders. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do https://forex-review.net/ advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. The broker doesn’t hide the fact that it’s trying to goad you into depositing more.