LexaTrade Review: Key Insights, Platform Performance & Is It Right for You?
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. LexaTrade is a relatively new broker in the online trading space, offering a range of financial instruments, including Forex, CFDs, stocks, commodities, and indices.
Warning Signs and Red Flags of a Scam
It highlights intuitive tools, automated trading strategies, and the potential for high returns with minimal effort. LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips. However, fees and spreads may vary depending on the account type and the asset being traded. The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets. One of the first things traders look for when choosing a broker is regulation and security. Regulation ensures that the broker adheres to strict financial rules and guidelines, which ultimately protects traders’ funds and personal information.
Lexatrade’s Trading Platform
One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. And if you’re unfamiliar with what IFMRRC is, we don’t blame you. Although we do daily broker reviews, we’ve never heard of it before.
Lexatrade Reviews
- ⚖️ Using cutting-edge blockchain forensic technology, they can trace cryptocurrency transactions, even if the scammers have tried to cover their tracks.
- Kingsley Cole, A young and brilliant guy, called me and gave me the details via skype video call, email and normal call, I adhere to what he told me and I am experiencing it in a positive way.
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
- As such, we can’t hold the deposit requirement for MT4 against the broker too much.
- Even i have raised my concerns in their portals but no actions were taken.
- Many people have complained that LexaTrade has locked or stolen their funds.
Am only happy because I found help after reporting to a recovery firm and they helped me recover all I lost to these fake crypto platform. My advice is that everyone need to be careful of the platform you deal with. If you have falling victim of these fake platform do not hesitate to file a complaint to Marketeace. While the broker claims to offer reliable support, user feedback often highlights delayed responses and unhelpful interactions, particularly for withdrawal-related issues. This detailed review evaluates the platform’s features, trading conditions, customer service, strengths, weaknesses, and overall reliability.
LexaTrade fails to provide any information about its staff on its website and promise fake returns. These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform. Claim your listing for free to respond to reviews, update your profile and manage your listing. Lexatrade has provided very less information about its organization.
Good profits and good services
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. IFMRRC stands for International Financial Market Relations Regulation Center. Scammers employ persuasive tactics to convince you to make an initial minimum deposit.
- The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.
- The broker’s low user ratings of 2.1, which shows the platform’s low credibility.
- On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.
- The platforms are designed to be accessible, intuitive, and feature-rich.
- We are back with our unbiased review of LexaTrade, an online trading broker company.
- The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.
Trading Instruments
And that’s without mentioning our hunch that the broker isn’t entirely honest. Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. 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. 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.
Is LexaTrade a Scam? Read This Brutally Honest Review
However, better options are present online, and it’s easy for most traders to switch. 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. The broker’s offer does actually seem decent enough, but the presentation isn’t up to par. We’ll see if the broker’s functional prowess ends up improving what we think.
As a relatively new broker, LexaTrade aims to build a reputation based on competitive pricing, high-quality customer service, and an intuitive user interface. However, as with all newer brokers, it’s essential to exercise caution and thoroughly assess its features and regulations. 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.
In this detailed review, we will cover various aspects of LexaTrade, including its trading platforms, account types, fees, customer support, and more. By the end of this review, you should have a clear understanding of whether LexaTrade is the right choice for your trading needs. With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade.
Later they said that the amount was too low for a trade so I left the money there only to find later that the money has disappeared. 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. Fill the form below or Use our Chatbot and get a Free Consultation from CNC Intelligence Experts, they can assist you by investigating your case and tracing your funds. You should also contact lexatrade review your bank as soon as possible and let them know about your issue. The variety of instruments allows traders to diversify their portfolios, but the depth and range are average compared to industry leaders. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making.