Lexa Trade review: Is it a legit or scam forex broker?

17 Dec Lexa Trade review: Is it a legit or scam forex broker?

Profit with minimal risk by using all the features of the terminal. Modern high-speed trading platform, with simple trading features. Variety of trading tools, automatic signals about profitable deals. Bonus programs, low spreads, 0% commission, multi-language call center. This means that when you open an account with $5,000 dollars, we will add to your account another $1,500 dollars. Trade and invest freely from anywhere on the planet with LexaTrade online platform using the high-tech functionality, speed, and profitability of the terminal.

As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. Lexatrade lexatrade review claims to prioritize the safety of its client’s funds. But we are skeptical about most activities and claim made by LexaTrade.

As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. 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. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator.

There are also Islamic swap-free accounts and a sample trading account available. You can also select the regulator with which you want to trade. This is a fantastic service that covers all of the key markets and asset classes. However, better options are present online, and it’s easy for most traders to switch. While the first account is cheap, lexatrade.com also robbed it of most features.

Forex Trading Platform

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. Incogni’s results were verified by our team and are trustworthy.

So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. Traders are advised to avoid brokers who charge unnecessary fees for the use of their services. Nearly all brokers will give you a raw deal if you fail to read their ToS regarding their deposit bonuses. This is mostly the case when a broker buys a white label from a company that offers MT4 trading platform for renting.

Additionally, the broker is unregulated and has high spread charges. The platform’s features that are worth considering include bonuses, advanced trading platforms and learning programs. Clicking on the link to discover more takes us to a sign up page where the broker requires us to create a trading account. We would like to see some real feedback from traders to even think of trusting Lexa Trade broker. There are no reviews or feedback at all regarding the services offered by this broker.

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LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. 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. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new.

Also, if clients don’t have a significant trading volume yet, the company intends to charge a commission of 5%. Assuming you deposited $100 and lost 60% of the funds and lexatrade attempted to withdraw $40, Lexa Trade broker would never process such withdrawal request. The broker is also attracting new traders using a 30% deposit bonus. Remember to read the terms and conditions for accepting and using deposit bonuses with brokers. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker has a lot of disadvantages which overshadow its features.

We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. However, it is an offshore broker restricted to operating in the US and Europe. The company charges a service charge of 5% if users make less than 5 independent transactions.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. 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.

Lexa Trade review: Regulations, Platforms, Features and Ratings.

Caring for our clients, our company makes every effort to optimize the trading processes and services provided. For your convenient and effective trading, we have developed and implemented a new online platform. Use all the capabilities of the terminal and make profit with minimal risks. You would be forced to top up to the minimum of $50 before placing a withdrawal request.

However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. 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 cheapest option is $250 while the most expensive is $100,000. There are also other newbie-baiting features, such as the bonus that Lexatrade offers.

Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. The broker has a lot of complaints and the majority of negative LexaTrade reviews can be found at Trustpilot. Meanwhile, most of the complaints are related to the LexaTrade is a scam and accounager who force clients to make more deposits. The platform offers a very limited list of tradable instruments.

What Payment Methods Are Available At Lexatrade?

With LexaTrade online platform, you can trade and invest from anywhere on the globe using the high-tech functionality and speed of the terminal. Our company is committed to providing the best trading services and processes for our clients. We have created and implemented an online platform for easy and efficient trading.

Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. 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.

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. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. 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.

Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand. On our website, you can see that some users have reported scams. The only extra worth mentioning is the Autochartist which is available right on the trading platform https://traderoom.info/ 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. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.

Information about withdrawals is missing and this should be addressed by LexaTrade. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. 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. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. 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.

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. 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.

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. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows.

• 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 rank is based on a scale, with 100 being the most reputable.
• The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.
• This company does not do its job well, and pretends to be a broker that does not give returns at all.
• Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions.
• Clicking on the link to discover more takes us to a sign up page where the broker requires us to create a trading account.

We offer favorable terms that allow you to take control of your money. Simple trading features and modern high-speed trading platform. Personal manager for Autochartist market analysis technology. A variety of trading tools, automatic signals about profitable transactions. Low spreads, 0% commission, bonus programs, multi-language call centre. We will give you an additional $1,500 when you open a new account with $5,000.

The data contained in this website may not be real-time and accurate. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps.

• The support team is problem-solving and responds quickly, so the overall communication with the team was great.
• That being said, caution should be used anytime money is involved, with all brokers, old or new.
• The broker uses a tiered account progression where each type requires you to reach a specific threshold.
• We would like to see some real feedback from traders to even think of trusting Lexa Trade broker.
• Overall this is a promising broker but a few tweaks here and there would make it a better one.

The same goes for visuals, as the various elements are glaringly mismatched. It looks like the broker took stock images, put them in boxes, and called it a day. Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together. The rank is based on a scale, with 100 being the most reputable. Many people have complained that LexaTrade has locked or stolen their funds.