Lexatrade Review Is it good, or is it a scam?

Live chat support was available at the time of our visit but a bit slow to answer. 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. 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.

  • They are capable experts with the ability and instruments to detect a con artist and get your assets back.
  • The platform is somehow new in comparison to some reliable names dominating the forex industry.
  • Its head office is located in St. Vincent and the Grenadines, a small island in the Caribbean known for its offshore status.
  • They offer appealing returns that may look promising and attractive and make you invest in that plan.
  • Lexatrade has five different account types covering budget and high-end options.

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. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. 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.

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. This includes video courses and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform.

Is LexaTrade a Scam? Read This Brutally Honest Review

It is regulated by the International Financial Market Relations Regulation Centre, making it a reliable broker in the forex market. The broker offers different types of accounts to its clients for better trading experience. The broker offers 5 primary account types, catering to the needs of every sort of trader. The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc.

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. The spreads vary on the account type https://cryptolisting.org/blog/what-does-apportionment-mean-in-government and the  instrument traders trade in. Overall this is a promising broker but a few tweaks here and there would make it a better one. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.

  • We assist customers with documenting the case against trick representatives.
  • The same goes for visuals, as the various elements are glaringly mismatched.
  • And without the broker specifying the times, who knows how long it might take for you to get your money.
  • The broker offers different types of accounts to its clients for better trading experience.
  • This may be from the company’s financial malpractice or maybe from competitors’ interest to drag LexaTrade down.

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.

Who Is Lexatrade Owner?

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. 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.

IQCent Review – All-In-One trading platform

The insurance covers upto 100% of total loss on all trades opened on the deposit day. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center. Despite this, it is an off-shore broker restricted to operate in the US and Europe. We are here to conduct a comprehensive evaluation of LexaTrade’s offers and services for the most
in-depth and unbiased verdict. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs.

LexaTrade Bonus

If you got defrauded by LexaTrade scam or some other intermediary and need to discover more about another agent, address our specialists. We assist customers with documenting the case against trick representatives. If you have been drawn nearer by a trick firm, then, at that point, contact Brokers Complaint to get fund recovery.

With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.

We aren’t the biggest fan of the huge jumps between the sums you need for different account types. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges. The genuine  features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs.

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