Forex Reviews

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.

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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.

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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.

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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.

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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.

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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 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 .

Forex Reviews

LexaTrade Review 2021, Safety, Platforms And Fees

A LexaTrade demo account allows traders to test ideas and familiarize themselves with real market conditions in a risk-free environment. The only difference between the demo and real money account is that you’re trading with $40,000 worth of fictitious money. Hey i think that people should seek friends or anybody who have used plus 500 b4 opening a real account. I am using a demo account and its working just fine- im earning quite a lot. However, i must say that when people uses real money, they tend to change their way of thinking and behavior,and so it might affect the performance in this trading platform. I cannot say that people should use this platform, but its the best so far from the other platforms out there and there’s unlimited demo unlike others. Should practice and get used to the way plus 500 works before actually opening a real account because your real-life money is at stake; either big or small.

LexaTrade broker reviews

Our personal experience of trading with LexaTrade was very good. LexaTrade customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues. Take time to look around the LexaTrade platforms and train yourself to think more systematically and logically about the markets.

I have a fulfilling 9 to 5 job as a digital marketer, but I also have several side gigs I enjoy working on. When I decided to launch my own website I took on the challenge of learning how to program, as I wanted my site coded from scratch. I have to say that finding online educational resources was a blessing. If you intend to use an external platform and connect it to LexaTrade, such as MetaTrader 4 or MetaTrader 5, I am afraid this is not possible. You’ll have to use the web-based broker that LexaTrade makes available to you. With LexaTrade it’s possible to choose from more than 10 types of charts, so you can tailor your charts to the type that suits you best.

Types Of Accounts

LexaTrade account are free, and the user can choose the kind of account while registering. The difference between the demo and the real account is that the trader in the demo account cannot use real money.

LexaTrade broker reviews

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 5 minutes or so to complete the account opening process. As with most brokers, margin requirements do vary depending on the instruments. With LexaTrade, the minimum and maximum trade requirements vary depending on the trader and the instrument. Below we give an overview on the account types that LexaTrade offer.

Instruments Traded

Since they aim to keep everything uncomplicated, LexaTrade offers one live account which requires a minimum deposit of $100. Deposits can be made via Credit and Debit investment for beginners cards like Visa or Mastercard, which is one of the preferred and fastest banking methods. Web wallets like Moneybookers, Skrill, and PayPall, are also supported.

LexaTrade broker reviews

I just use the demo and if i get really good at this i probably would change to real account and invest the lowest possible first in-case of any risk of losing them all. Im not trying to side any parties, but i think people should know the risks of things before doing something.

Customer Support

As a market maker, the broker tends to charge these spreads. The spreads are the differences forex between the cost of a CFD asset you bought and the price you sold the same asset.

LexaTrade broker reviews

During our account opening testing, our account was opened within a day. As is the norm in the brokerage industry, LexaTrade generates its revenues principally from customer trades that “cross” the bid/ask spread, which are competitive within the industry. The company does not charge commissions on any client transactions, and the spread does not vary with trade size. Guaranteed stop loss orders, which protect the trader from market gap risk, are available on some instruments depending on market conditions but they are subject to a wider spread.

72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Portfolio Analysis Tools

They can place and screen their trades physically on LexaTrade’s web-based or mobile trading platform. This platform is focused on those individuals who simply need a structure for executing trades. Moreover, traders can also lexatrade broker reviews ensure ‘Close at Profit’ or ‘Close at Loss’ value levels for exclusive instruments which can restrict the trader’s risk. This is an important feature we generally search for and one not offered by most of the CFD suppliers.

LexaTrade broker reviews

Compared to other commission-based pricing environments, they rank among the better ones. Before you trade with this provider, you should make sure you understand CFDs. This adds a significant degree of transparency to its operations and to the company’s solvency and liquidity. This is crucial to protect the money it holds for its investors. LexaTrade is legit and regulated by the top financial authorities. These include the Monetary Authority of Singapore , Financial Conduct Authority of the United Kingdom , and the Australian Securities and Investment Commission .

LexaTrade Video Review

Clients can select from 2,000 instruments, scrutinize their selection on a tailor-made technical analysis chart, and place their trades with just a few clicks from the same window. The disadvantage of this broker is a minimum deposit of $100 for standard and micro-accounts. The processing time is instant but may take longer for bank transfers which may take up to two days. Plus 500 is an online forex trading company ICO (cryptocurrencies) with its headquarters in Israel. Plus 500 was established in 2008 and over the years it has been able to establish its name as among the most credible brokers globally. Its global presence has further been facilitated by it having a lot of subsidiaries worldwide I various countries. CFDs are frequently used to trade currencies and LexaTrade has no shortage of instruments to trade both pairs and spot prices.

LexaTrade broker reviews

While having its headquarters in Israel, LexaTrade has branches and subsidiaries spread globally in the UK, Cyprus, Australia, Bulgaria, and Singapore. CFDs are risky because bad trades could be a complete loss of capital – there’s no exiting a trade early if the technicals turn against you. Since traders can lose all the capital they’ve entered into a trade on a bad outcome, CFDs are not recommended for new or risk-averse traders. If the thought of losing your entire investment on a either/or bet makes your stomach churn, these types of instruments may not be for you. LexaTrade doesn’t charge commission and only profits off the spread, which is the difference between the buy and sell price of a specific security. But LexaTrade is not a broker for beginners — the education materials are sparse and CFDs are risky derivatives capable of sapping out all of an investor’s capital.

Their spread is very competitive and is one of the lowest in the market – more on this below. LexaTrade can only return funds to the e-wallet or account it was deposited from. Slippage can be avoided by adding a guaranteed stop order to your position. This option is found directly under the ‘Close at loss‘ or ‘Close at profit‘ boxes.

  • No commissions are charges at all while trading with plus 500.
  • This means that LexaTradehave publically listed and you can officially buy shares in LexaTrade on one of the worlds global stock market exchanges.
  • You can also use your smartwatch, but we stuck to a conventional smartphone and tested the mobile iOS app.
  • The negative side of the platform is that it is not customizable.
  • LexaTrade has eight regulatory licenses offering traders a choice between tighter regulation or a business-friendly trading environment.
  • LexaTrade offers you the possibility to create logins for its platform with your Facebook or Google account, or you can choose to log in with any email address you have.

Provide financial details (annual income; savings and investments; source of funds). LexaTrade clients’ funds are protected with compensation schemes of £85,000 and €20,000 under the FCA and CySEC, respectively. Finally, wewithdrew our fundsto see if there are any issues with the withdrawal process. We alsoreached out to customer lexatrade scam supportto solve the issues we faced. “Popular Shares” gives you a quick overview of the biggest share options in the world. However, if you want to look at companies based on their country of origin, you can click on UK, for example, and see share prices and buy/sell options for the likes of BP, Tesco, Rolls-Royce and more.

You should consider whether you can afford to take the high risk of losing your money before trading. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. LexaTrade offers vanilla call and put options that work the same way as exchange-traded versions; however, they are non-standardised. This means that these options are adjustable and customis[able depending on the client’s strategy goals and risk tolerance. However, unlike much of its competition, LexaTrade doesn’t offer the popular MetaTrader 4 platform, which provides more functionality and customisation options for clients. WebTrader is appealing because it is easy to use with layouts that experienced traders will feel familiar with. LexaTrade offers clients in over fifty countries worldwide access to a comprehensive product line including forex, individual shares, stock indices, ETFs, options, commodities, and cryptocurrencies.

On the positive side, the broker holds six regulatory licenses. It is also listed on London Stock Exchange and is a constituent of the FTSE 250 Index. For our second account, the experience was completely the opposite . After trading US stocks and ETFs, LexaTrade asked us to fill in the US W-8BEN form. It has to publish its financial details every quarter to comply with UK regulations. LexaTrade holds 6 regulatory licensesfrom several top regulators, like the United Kingdom’s FCA, Singapore’s MAS, and Australia’s ASIC.

Forex Reviews

Check If LexaTrade Is Scam Or Safe

With payments of less than 100€, it can be expensive because there are fees of around 10 €. This fee is likely to be taken because smaller accounts bring too little profit to the broker.

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You can see that clearly if you want to register on the homepage. Europe, Africa, Asia, and India are the most growing regions for trading. Furthermore, technical drawing tools are very important for technical analysis, which is popular among traders worldwide. The use of horizontal, vertical, and trend lines is simple.

LexaTrade Trading Instruments

LexaTrade offers Real-Time Trading Alerts via Telegram. But while this could be a good resource and extra feature, please note world currencies that it’s available to VIP clients only. In other words, you will have to deposit $3,000 or more if you want to use it.

  • Market manipulation of forex rates has also been rampant and has involved some of the biggest players.
  • LexaTrade is used by over 10,000 traders and LexaTrade users.
  • Our expert team also knows the ins and outs of chargebacks through many different payment processors.
  • You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.
  • Thanks to the clear platform, independent analyzes can be carried out easily and with the app, you can keep an eye on your portfolio at all times.
  • LexaTrade has more than 1.5 million clients from over 186 countries, as well as serving an exclusive Member club that has more than 1.5 million traders.

In our opinion, a trade is settled in the daily chart . This is a very big timeframe and the trade runs for several days. Of course, earning money is also possible in a short time if you want to focus on short-term movements. In cooperation with a price average, uptrend, and support zone, the trade can be successfully be sold and recorded a direct profit after the first few days. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD’s, Forex and Commodities.

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In this harsh economy, the last thing you would want is to lose your hard-earned money to scammers and con artists. Fraudulent forex brokers can rip you off before you make even a cent in profit. The only way to protect your money is by carrying out adequate research before investing funds.

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Although traders have had great success with LexaTrade. Trading on the financial markets with LexaTrade is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts.

LexaTrade Broker Benefits

But it is already the most reliable company among other brokers. This has already been verified by more than 500,000 people. LexaTrade have updated their site for even greater comfort of their customers. lexatrade official site Their personal site includes many diverse functions that are understandable and accessible to the user. A huge bonus of the LexaTrade company is the possibility of learning from video lessons.

Information found on Herald Sheets represents those of writers quoted. It does not represent the opinions of Herald Sheets on whether to buy, sell, or hold any investment assets. Investors investments strategy must do their own research before investing their money and only do so at their own risk. We tried out LexaTrade’ customer support for ourselves, and it was a fantastic experience.

The effort is too big for the broker to manage accounts under € 200, so the fee is so high. There are no fees for higher payouts except for bank transfers. For international transfers, a maximum of € 50 is required and SEPA transfers a maximum of € 5. With unregulated brokers, it forex brokers can come to delays of the disbursements or customer money frauds. This is not the case with LexaTrade because the company wants to continue to enjoy its good reputation. The payouts will be processed and sent within 3 days. Simply go to the account dashboard and click on “Payouts”.

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Assistance is provided without any delay, will certainly answer any question of interest. I recommend LexaTrade to beginner traders and to those who want to move to a more professional company” – Kirill. When a trading platform doesn’t have available customer service contact methods, then it could possibly be a fraud. In contrast, trading with us exposes you to vast support avenues. There is no such thing as a Banc de Swiss scam, since we offer you ways to send your concerns such as via phone, email, live chat, and Skype among others. To help you avoid being victimized by fraud trading platforms, we have provided some guidelines on how to detect a binary options scam. Moreover, we’ll give you a few evidences showing that the Banc de Swiss trading scam issue is absolutely false.

Learn About Trading Fx With This Beginners Guide To Forex Trading

LexaTrade offers a number of assets to be traded on MetaTrader 4, MetaTrader 5, LexaTrade webtrader and its mobile app. We have seen reviews from reputable review sites by people who have lost their money to the scam, and all you can do is learn from their experience. Know how to spot a trading scam and stay alert for any coercion to invest your money on a trading platform.

And make sure you have a confirmation that any remaining fees are not due. Although currencies can be volatile, violent gyrations like that of the aforementioned Swiss franc are not that common. For example, a substantial move that takes the euro from 1.20 to 1.10 versus the U.S. dollar over a week is still a change of less than 10%. Stocks, on the other hand, can easily trade up or down 20% or more in a single day. But the allure of forex trading lies in the huge leverage provided by forex brokerages, which can magnify gains .

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It is a legal procedure to check proof of your residence, through a utility bill, your ID, or similar. You can trade Cryptocurrencies based on CFDs also with quite good costs at LexaTrade. Over-regulation of LexaTrade can limit a company in many ways. By submitting your review you agree to the terms & conditions. Please note that we may share your email with the company to verify your order. So if you buy a contract on, for example, oil and the price of oil rises in the next 2 hours, then the value of your contract also rises and you can close the trade in profit. There are derivatives with which an underlying value is speculated.

Withdrawal Issue

For bank transfers via wire transfer international payments from a bank account, the minimum withdrawal amount is 50 EUR after the deduction of the 10 EUR basic fee. For SEPA transfers there is a minimum withdrawal amount of 5 EUR after the deduction of the 10 EUR basic fee. Charting is one of the most important things when it comes to technical analysis of markets. MetaTrader 4/5 is one of the most flexible platforms in the trading area. Choose between different chart types and set any time period. Furthermore, LexaTrade gets its market data from well-known providers.

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In this article, you will learn important information regarding LexaTrade that will help you get off to a good start in the world of online trading. This LexaTrade review was written by industry experts with over 20 years of financial experience in Binary Options. has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. Ask me for a prove of the bank that im the owner of the account i used to make money, wich i sended.

Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. 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 onboarding and normal KYC identity checks. These checks are standard practice and help LexaTrade provide a safe financial environment for their 10,000 users. MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world. You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account.

LexaTrade scammers

This makes it possible to respond more specifically to the wishes of traders. For example, lower spreads can only be activated if the trading volume is high so lexatrade official site that the broker still makes enough profit. LexaTrade is very well positioned with 4 types of accounts and thus clearly sets itself apart from its competitors.

Their past conduct has warranted two separate fines from CySEC regarding their practices. They fell into the same patterns of misleading marketing that many other online brokers have in recent years. These are signs that investors should be cautious before proceeding with LexaTrade. The risks of doing business with LexaTrade don’t seem to be offset by anything worthwhile. Their spreads are only viable if you make a large deposit, and other fees further bring down that viability.