LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. The representatives are adept at problem-solving, so the overall communication flow is great. However, better options are present online, and it’s easy for most traders to switch. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully. However, it is an offshore broker restricted to operating in the US and Europe.
- The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges.
- Also lexatrade review trustpilot , lexatrade wikipedia are also showing bad numbers.
- Information about withdrawals is missing and this should be addressed by LexaTrade.
- 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.
If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade. After analyzing the detailed LexaTrade review, we can say the company is totally a scam. The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility. While looking for the platform on Trustpilot, we went through many complaints, which indicate LexaTrade is a scam. In order to attract more traders on the platform, LexaTrade often starts promotions. There is not a single complaint regarding the same, so, we can rate it good in this case.
The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. Information about withdrawals is missing and this should be addressed by LexaTrade. 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 the withdrawal.
British company Revolut can start offering crypto currency on American markets
Competition policy, including digital competition, is reserved for the whole of the United Kingdom. This will help deliver one of the Government’s five priorities to grow the economy by increasing consumer choice and confidence in the products they buy and services they use. Avoid abusive language and personal attacks, directed either at the broker or the author.
We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage. LexaTrade learning is an interactive educational feature that https://cryptolisting.org/blog/25-high-dividend-stocks-and-how-to-invest-in-them aims to help novice traders to understand and learn about the market. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors.
Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words
Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. 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. So there’s the argument that some regulation is better than none, and that does hold up.
A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005. However, it garnered popularity among traders with its one-of-a-kind features and the services. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. As the platform is not worth considering, I was looking for the best alternative, and after researching for days, the most recommended broker I found was InvestFw. The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam.
One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. The support team is problem-solving and responds quickly, so the overall communication with the team was great.
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. The CMA will be able to directly enforce consumer law rather than go through lengthy court processes. The reforms will also heighten the consequences for wrongdoers as the CMA and the courts will have the power to impose penalties of up to 10% of global turnover for breaching consumer law. ComplaintsBoard.com is a leading complaint resolution website on the Internet. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.
X CRITICAL MOBILE APP
And even then, you only get the web version, and you need the $50,000 account for the full unlock. A web-based proprietary platform that lets traders experience advanced trading. A web-based proprietary platform is offered by LexaTrade, such as MetaTrader4 and LexaTrade
app – xCritical Mobile App. While the platform offers a considerable service, we still advise to choose among legit brokers like InvestFw. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds.
Here you get assistance perceiving a scam broker before you are excessively profound into it. At whatever point you are in question about any dealer, the best practice is to let the asset recuperation experts help you. They are capable experts with the ability and instruments to detect a con artist and get your assets back. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices.
Is LexaTrade a regulated authority?
Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. 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. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options.
Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform. Investing in indices such as NAS100, EUR50, JPN225, and USA30 provides several advantages to traders who are interested in index trading. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains. It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process. With their 24-hour client service team, you can get the support you need whenever you need it. The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features.