Live chat support was available at the time of our visit but a bit slow to answer. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. 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.
The broker offers 5 primary account types, catering to the needs of every sort of trader. The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. Reading reviews from other traders who have experienced LexaTrade firsthand is crucial in determining the broker’s reliability. These reviews offer insights into the platform’s functionality, customer service, and overall trading experience, allowing potential investors to make informed decisions. Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points.
We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and 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.
- Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it.
- Feel also free to type the names of suspicious businesses in the comments section below.
- License is the most significant thought while choosing a merchant.
- Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.
Investing time in research before trying to invest on a suspicious broker can save you from potential losses and unnecessary stress. We will help you present your case to your bank, credit card company, and cryptocurrency merchants. But first, you must have evidence of the scam as proof that you haven’t been able to make a withdrawal. In order to get it, you have to fill a short Consultation form.
LexaTrade Referral Program
Other powerful elements include, but are not limited to, Alexa rank, IP address, SSL certificate, and presence on fraud forums and bulletins. We aim to equip you with an array of objective appraisals, insightful commentary, and meticulous analysis. We uphold our commitment to precision through rigorous data validation and consultations with industry experts. It’s essential to recognize that, albeit rarely, minor fluctuations may arise. Please be assured that our dedication to delivering unbiased assessments, exhaustive scrutiny, and well-informed perspectives remains resolute.
- That isn’t an exact rule, but it’s something we’ve found to be true more often than not.
- 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.
- Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.
- The broker also provides different trading assets for higher liquidity with high leverage and low spreads.
To emphasize, the most important consequence of this is to server their relationship with payment providers and secure a refund. After making the initial deposit, victims are transferred to a more sophisticated scammer known as a “retention agent”, who takes more money from unsuspecting victims. Also, scammers, as you read in this ASR review, are famous for not withdrawing your money. They may ask you for more and more money and never return a single penny of your earnings. We’re committed to swiftly updating the review based on your substantiation. The more robust your evidence, the more we’ll tweak your rating.
Which Trading platforms are offered by LexaTrade?
The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features. 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.
LexaTrade Review 2023: Is It A Scam Or Legit Broker? Unbiased Review
If you find a site you’re curious about, use Scam Detector’s validator, so you can confirm website’s credibility.. If you feel the 75.80 rating should be different (either lower or higher), please contribute with some comments. Our Scam Detector VLDTR tool’s great thing is that the rankings can’t be rigged since they are not based exclusively on reviews that people write on specialty websites. 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. Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform.
xCrictical Mobile App
To find out if we recommend LexaTrade for trading, read our review. Brokers Complaint can have advertising and affiliate relationships with some of the trusted recovery companies and may be compensated through lexatrade review them . Brokers Complaint is committed to the fair handling of reviews and posts regardless of such relations. Here you get assistance perceiving a scam broker before you are excessively profound into it.
IS LEXATRADE A SCAM or SAFE?
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. 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.
A mobile platform is available but Demo accounts are not; US traders are not accepted. The broker doesn’t hide the fact that it’s trying to goad you into depositing more. 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. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point.
If the broker doesn’t hold any license, then there must be a risk of scam. License is the most significant thought while choosing a merchant. Firstly, guarantee the license is from a reliable controller and not one who gives a license to any individual who pays a charge. Legitimate specialists might have the option to accomplish something, yet controllers can remove the license from trick intermediaries.
Fill out the application form with your personal information, including your name, mobile number, email address, and a secure password. 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.
Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too. When researching an online broker, the first and most important step should always be to find out if they have a regulatory license from a financial institution. This will tell you whether they are regulated by a central authority or if you are dealing with an offshore and/or unregulated investment company.