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LexaTrade Is It A Scam? Review

A simple online application is all that is needed to open a new account. The layout is extremely user-friendly and easy to complete. New traders need to confirm their identity by sending a copy of their ID as well as one proof of residency document. The standard operating procedure across the brokerage industry ensures compliance with AML/KYC regulatory requirements. Eleven experts provide excellent coverage of financial markets, representing the most beneficial asset of LexaTrade’s retail operations.

LexaTrade forex brokers reviews

Not only is LexaTrade doing money laundering with client’s money, but they also steal those money with bad exchange rate for withdraw, but for deposits everything goes smooth. I deposited on LexaTrade through and after that they disabled that payment option for withdrawal, which is still available for deposits. Everything works great while depositing but for withdrawals? Everyone who is thinking about registering on this broker, please know that the broker with which you’re registering is doing illegal activities, because of that your money might be lost one day. Please read my review carefully and you will also find out the cheap tactics LexaTrade use to loot you from indirect fees while withdrawing. Open a trading account and deposit through one of our secure payment methods.

Access Some Of The Most

Our ultimate guide to the LexaTrade minimum deposit is updated regularly. LexaTrade offers an Advanced Trading Toolkit to complement and enhance some features of the MetaTrader desktop platform. You can’t set alerts and notifications on the LexaTrade web trading platform.

LexaTrade forex brokers reviews

Please do not consider this as investment advice or an investment recommendation. It also offers intuitive trading platforms and education material for the new traders to learn the fundamentals of trading. During periods of huge volatility and high risk in the market, the clients of LexaTrade can benefit from no re-quotes when they are placing orders over the platform’s asset offerings. Traders should invest in the market only when they can take a high risk of losing money rapidly due to leverage in the markets. They should also take note of every risk warning put forward to them.

Customer Service

You can find detailed guidance on LexaTrade trading platforms here. You will need to provide some basic documentation to prove your identity as part of LexaTrade lexatrade rezension onboarding and normal KYC identity checks. These checks are standard practice and help LexaTrade provide a safe financial environment for their 10,000 users.

LexaTrade forex brokers reviews

Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. LexaTrade offers comprehensive educational and training material which should be sufficient enough information for beginner traders to expand experience and trading knowledge. Many brokers offer a range of analytics tools that allow traders to remain abreast of changes on the Forex market and respond accordingly. LexaTrade provides 2 different trading platforms, both powerful and user-friendly. Trading with LexaTrade for a few months now and earning decent profits. So far, I’ve never experienced any problem with execution and withdrawal. Trading environment I must say is better in this broker than other brokers regulated by CySec.

Does LexaTrade Have A News Blog For Forex News?

LexaTrade also offers CFDs on stock indexes, oil, precious metals, and bonds as additional trading instruments. Good spread and good costs, but it’s the worst support I’ve ever seen. I needed to check another way to withdraw my ICO (cryptocurrencies) money, support didn’t help at all, a simple email saying I needed to make a deposit via transfer so I could withdraw to my bank was enough. Keep your trading costs down with competitive spreads, commissions and low margins.

LexaTrade forex brokers reviews

There are five branches of the broker operating worldwide united under the international company LexaTrade Group. All five branches are regulated within five different jurisdictions with the licenses granted from the corresponding local regulatory authorities. The regulations are the first significant indicators that the broker is indeed legit, which serves as the safety guarantee for the traders. Yes, you can start trading with no money at LexaTrade, since the broker offers a Welcome Account with a free $30 to new traders with which they can start trading.

The company is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority in the UK; and as such is considered a safe broker. In order to do so, install an MT4 platform in different folders on your computer for each of your trading accounts. LexaTrade UK Ltd is authorised and regulated by the Financial Conduct Authority and is required to segregate retail client funds from the company’s own funds. Trade yourself to the top and bask in your glory with a $1,000 prize. Believing that remarkable achievements deserve special acknowledgment, every month we choose the best of the best among our skilled clients and award the top 2 traders with a$1,000 prizeeach. Though many brokers do not allow placing stop and limit orders close to market prices, we allow you to do just that. So stop and limit levels for VIP account users are zero.

What Is The LexaTrade Minimum Deposit?

If you don’t know much about trading, LexaTrade will teach you the basics of trading. Traders can fully customize their MT4 trading platforms according to their trading skills and goals.

LexaTrade forex brokers reviews

What you need to keep an eye on are trading fees, and non-trading fees. Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto currency exchange industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative. Has left the European Union, passporting is no longer supported from the U.K.

High-volume traders or companies can open a VIP account. From a deposit of $ 50,000, you have even cheaper fees. In addition, stop orders and limit orders are allowed close to market prices. From our experience, it is not worth the classic account to open, because the fees are accordingly higher than in the Pro account. In the following text, we will inform you about the terms of each account. As a trading platform, the MetaTrader 4 is offered to you.

Research And Tools

In one click the platform opens up in a new window to give instant access to trading anywhere, anytime. The platform provides a user-friendly and highly customizable interface and sophisticated order management tools to control positions quickly and efficiently.

  • The trading costs on these accounts make them appealing to experienced traders.
  • Yes, LexaTrade also offers a free demo account where you can get a feel of the current trading environment and practise on the MT4 trading platform.
  • Brokers who conduct trades without supervision of a regulatory body do so at their own discretion.
  • Customers will also be able to watch webinars, videos and get all the latest new updates through its YouTube page.
  • If you don’t want to risk money at LexaTrade right away, you can get started with a demo account.
  • Demo Account – If you are a new customer who is not ready to invest real money, you can learn more about trading and polish your trading skills through a demo account.

LexaTrade has a good selection of derivative products and they are very willing to add more products/platforms to meet their client’s needs. Their fees and commissions are very low compared to other brokers. One of the tempting factors of forex trading is the use of Leverage which allows you to use a small amount of capital to open and maintain a much larger position. Technically, leverage gives lexatrade forex broker a trader access to a large sum while using a much smaller amount of their own funds, effectively borrowing the rest from the broker. LexaTrade offers free and fast deposits and withdrawals. There are various options for funding your account, including bank wires, credit and debit cards, and e-wallets such as Skrill and Neteller. You may make a lot of money but, you risk losing your investment.

LexaTrade is a non-dealing desk broker, which has a similarity to an ECN broker. The difference between NDD and ECN is that the broker still sits between the market and clients. An obligation to pay additional funds can be excluded. forex broker In addition, LexaTrade offers education material and webinars for its clients. In addition, use free indicators, which are adjustable for your personal strategy. The Metatrader comes with a lot of tools after installation.

LexaTrade forex brokers reviews

The information and videos are not an investment recommendation and serve to clarify the market mechanisms. The texts on this page are not an investment recommendation. The company is regulated and licensed by FSCA SC , FCA , CySEC .

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