Overall this is a promising broker but a few tweaks here and there would make it a better one. Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement.
Using a Data Room for M&A
Dealing with an unregulated company like LexaTrade increases the risk factor of your money. Once the money is deposited with it, it stops responding to the queries.. EvenInsight.com is a venture of Even Insight Technology and a website for cyber security and analysis. With the collaboration of multiple security partners, EvenInsight provides the detailed evolution of each website which empowers users to identify potential scams.
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. So don’t use this platform and research well before choosing a such platform. They even have affiliates who individually promote platforms to others and force them to invest maximum money. 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.
The information on Forex-mag.com does not serve as an investment or trading recommendation. The server operator Almina Corp as is not a registered broker, investment advisor or broker. 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.
Real User Experiences and Reports
The spread varies depending on the account type and the financial instrument being traded. Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically.
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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. Scammers employ persuasive tactics to convince you to make an initial minimum deposit. They entice with promises of doubling the deposit within 24 hours and similar claims. After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds. The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency.
- In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade.
- The spreads vary on the account type and the instrument traders trade in.
- Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction.
- They entice with promises of doubling the deposit within 24 hours and similar claims.
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. Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. 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.
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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader.
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 lexatrade reviews the withdrawal. 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.