Contents:
Although we do daily broker reviews, we’ve never heard of it before. Therefore, for some people it will always be like a scam. There is even nothing to be surprised at in such comments.
Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform. LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions. For those that are victim of online investment scam, i will recommend the help of janesilva0727 g mail com a recovery expert who helped me in getting back all my lost funds. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam.
At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. So there’s the argument that some regulation is better than none, and that does hold up.
Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words
This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have https://cryptolisting.org/ the best of both worlds. 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.
On the other hand, the majority of traders don’t need Expert Advisors, scripts and the stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. If you are already in it, you can get help from LFr es cue • org let’them guide you!
LexaTrade
Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction. We are back with our unbiased review of LexaTrade, an online trading broker company. As such, our Lexatrade review isn’t off to the greatest start.
- These platforms are popular among traders due to their advanced features, which are defined below.
- Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform.
- If a trade position is kept open and carried over to the following day, a commission will be charged to the trading account for using the credit.
- The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
- There are way too many categories on lexatrade.com, and navigating around the website is challenging.
They will do registration before even u cud understand them. N then…u r trapped… B sure ..ur money is gone within days… I lost my 250 dollars within night. At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny. N even u earn or make money from this platform, they will not let u withdraw money till u lose all ur money… There r lots of if n buts wen u wish to withdraw.
Should I Open An Account With LexaTrade?
There is no solid information about the founder of LexaTrade and its parent company. Within a few years of its establishment, LexaTrade expanded its services to different countries around the world. There are way too many categories on lexatrade.com, and navigating around the website is challenging. The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.
However, you can only unlock MT4 after depositing $10,000. And even then, you only get the web version, and you need the $50,000 account for the full unlock. Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold.
The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making. Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines , a kingdom of thousands of shell companies.
Sir / madam in this regard I searched the company address of India. And stay alert, scammers like lexa trade are present here too, misguiding the public. They encourage you to extract maximum amount from you and then open deals conveniently to bring you down to “ALL RED” and refuse to return a single penny.
The case with its funding is much of the same, as there are some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. Also, the spreads on the VIP account are relatively tight. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders.
We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well. However, the translation itself is shoddy, so the website ends up looking unprofessional. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe.
Customer Service at Lexatrade
LexaTrade has a referral program in which you’ll receive up to 50% deposit amount as a commission. Lexatrade claims to prioritize the safety of its client’s funds. But we are skeptical about most activities and claim made by LexaTrade. LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. As per the whois data, the domain Lexatrade.com was registered in September 2018, and according to similar web data it has around 13k monthly traffic from Kenya (60%) and India (26%).
That, along with the multiple phone lines, makes the broker easy to reach. The representatives are adept at problem-solving, so the overall communication flow is great. 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. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps.
Review of the Day
Since they persuade to open account, after I do know of them attend to my email again. 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. Lexatrade is a scam company and it is going to close sooner. So don’t use this platform and research well before choosing a such platform.
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 lexatrade reviews what we think. Users caught spamming or abusing will be deleted from the site and prohibited from future registration at thatsucks.com and affiliates.
Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement. 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. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those.
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.
