On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) 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 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. LexaTrade is an unregulated brokerage firm based in Saint Vincent and the Grenadines.
What is Lexatrade Company?
Albeit contrary to one client review above, the issue can be easily identified as a misinformed judgment on the client’s part. In one way or another, clients who were unable to withdraw their funds from their accounts might have violated some conditions and guidelines without them knowing it. Aside from throwing shades to the broker, some online client reviews also burst out that LexaTrade scammed them by not allowing them to withdraw their funds from their accounts. Albeit contrary to one client review above, this issue can be easily identified as a misinformed judgment on the client’s part.
Trading Platforms & Tools
MT4 Terminal is compatible with any desktop computer and operating system. It has listing charts for changing time https://forexhero.info/ ranges and combines many commercial operations. LexaTrade’s MT4 Terminal is also a viable option for traders.
- LexaTrade wants to make sure their clients are knowledgeable about any trade before they begin.
- For starters, the first two accounts are borderline unusable.
- These factors contribute to a higher level of risk and suggest caution when considering LexaTrade as a brokerage option.
Real LexaTrade Clients Reviews
LexaTrade provides its clients with a wide range of trading markets, allowing them to access various financial instruments and assets. Traders have the opportunity to trade in different markets, including currency pairs, indices, commodities, metals, energy products, and stocks. These reviews prove that clients widely trust LexaTrade. It is praised for various reasons–from trading platforms to payment methods and its profitability. It is acquiring more and more clients as it continues to improve on the best services it could offer. The broker provides a decent and fair set of trading conditions coupled with some advanced trading tools and platforms.
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. 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. 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.
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. It’s a non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators.
Clients are encouraged to participate in an event, and LexaTrade provides a list of the best stocks to invest in. Along with the list of tradable stocks, LexaTrade also posts stocks’ previous revenue, forecasted price, and timeframe on when to trade it. This way, all traders can prepare their positions ahead of time.
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. LexaTrade is a forex broker that offers services in currencies, cryptocurrencies, commodities, stock, and indices trading.
I trade with some crypto platform not knowing they where sc! Am only happy because I found help after reporting to a recovery firm and they helped me recover all I lost to these fake crypto platform. My advice is that everyone need to be careful of the platform you deal lexatrade review with. If you have falling victim of these fake platform do not hesitate to file a complaint to Marketeace. Net this company helped me and I believe she can help you too. The broker has a low user rating of 2.1, which clearly shows the platform’s low credibility.
It fully meets the expectations of even professional traders and is not inferior in functionality to popular MT4. According to documents on LexaTrade official site, it is an officially registered company. It operates under the Swissone Group Ltd., which is based within St. Vincent and the Grenadines. The financial work of the broker complies with the requirements of FMRRC (Financial Market Relations Regulation Center). Reviews like these are nothing but slanderous claims. It contains no legitimate grounds or even constructive criticism about brokers.
However, much information regarding the same is unavailable on its website. The deposits are processed instantly, while withdrawal may take up to 3-5 business days. If you’ve been following our detailed Lexatrade review 2024, you have likely noticed the platform has not much to offer to its users.