It contains no legitimate grounds or even constructive criticism about brokers. It plainly claims that this broker is something else without any proof. Baseless accusations like these are examples of libelous claims executed by competitors to smear another broker’s reputation. LexaTrade is a newly launched, regulated broker https://cryptolisting.org/ 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. Our mission is to assist millions of traders in finding the best broker.
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. “If, in general terms, the company works honestly, and I would not say that there are some illegal actions. MtT4 platform is considered as the gold-standard for every other trading platform in the trading industry. The MT4 performs as a classic choice in trading currencies and CFDs because of its user-friendly interface, speed of execution, and high-grade terminal work. LexaTrade’s offering of the MT4 comes in a web version and it is compatible with any browser.
- This is a simple fact in the trading industry, where competition can sometimes be cutthroat.
- Now we are going to know about LexaTrade’s accounts and how they shape a world-class broker.
- After a lengthy and extensive probe into the services and LexaTrade Forex brokers reviews, let us sum up the advantages and disadvantages of LexaTrade as a broker.
- Being a global broker, LexaTrade has earned the praises of its clients and the ire of its detractors.
- The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically.
A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. That’s especially true if the bonus goes as high as it does at lexatrade.com. Nowadays, it is second nature to an investor to choose an officially regulated broker with a decent regulatory history. Hence, it is of primary importance for a forex broker to assert its legitimacy through its regulatory certifications.
The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. The client is obliged to make a deposit to his trading account in order to be able to make transactions. To make a deposit, all possible forms of payment indicated on the Company’s service are provided.
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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. However, better options are is lexatrade legal in india present online, and it’s easy for most traders to switch. Perhaps we’re being too harsh since if you know what you’re looking for, you’ll find it. We wouldn’t be surprised if entry-level traders couldn’t find their way around and simply decided to use another brokerage.
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. Unfortunately, when a broker looks like it’s a rushed project, it’s often a scam. That isn’t an exact rule, but it’s something we’ve found to be true more often than not. 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.
Thoughts on “Trading with LexaTrade: Accounts, Bonuses, Honest Reviews”
You, as a member of the service, have the opportunity to conduct transactions with stocks, financial instruments, and other assets. You agree that all actions on the service are performed only on your behalf and our Company is your representative when performing any financial transactions. You acknowledge that all responsibility for the transaction lies solely on you. Looking at reviews about LexaTrade on various websites shows that the broker is actually trusted and respected by its clients. Many have praised LexaTrade forex broker for its speed of providing services and giving more than what is expected of it. Below are only some of the LexaTrade broker reviews written by legitimate clients on the website of TrustPilot.
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. This broker attracted me precisely with this – in all reviews about LexaTrade, it is distinguished by the reliability and honesty of the company. Of course there are questions, but after correspondence with tech support everything is successfully resolved.
What Is LexaTrade Company?
However, much information regarding the same is unavailable on its website. Broker attracted me precisely with this – in all LexaTrade reviews, it is distinguished by reliability and honesty of the company. The Web platform displays 170 trading instruments, charts, and order management tools to monitor trading positions and technical adviser Autochartist effectively. LexaTrade provides a Web platform armed with a wide range of tools, risk-management features, and best trading solutions. This agreement gives the Client only the right to use the service, not necessarily a partnership, joint venture or franchise between the parties.
That being said, caution should be used anytime money is involved, with all brokers, old or new. The trader can contact LexaTrade customer care to recover their money. If this doesn’t work, traders can raise a complaint to IFMRRC, the regulatory watchdog of LexaTrade. LexaTrade customer support is very impressive as it offers full-time support with 24/7 operating hours. The broker can be reached through multiple channels, including phone line and email.
LexaTrade is a multi-asset broker whose wide range of services and financial instruments established its reputation. It is a trading brand of Swissone Group Ltd. based in Saint Vincent and Grenadines. One of the most popular bonuses it offers is the Refer a Friend program. When an existing client successfully gets another trader to sign up to LexaTrade, clients are awarded up to 50% of the deposited amount of the new client.
Platform includes a customization feature that comes with listing charts and shifting time ranges. Being a global broker, LexaTrade has earned the praises of its clients and the ire of its detractors. Many critics have praised this broker for several reasons, while a select few spread libelous claims to destroy its reputation. Forex broker LexaTrade provides at least five necessary trading tools and research materials, the most important ones that either make or break a trade. Investors need these tools and materials every day since they hold key information about potential results of their executed trades.
Can I Get My Money Back From LexaTrade?
The company can change the form of the deposit without prior explanation. Even for the higher accounts, the spreads are wider than those from other brokerages that require similar price points. As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies.
After a lengthy and extensive probe into the services and LexaTrade Forex brokers reviews, let us sum up the advantages and disadvantages of LexaTrade as a broker. The client understands any possible risks during transactions when using our service. Your acceptance of the Agreement automatically means your acquaintance and acceptance of the possible risks. Our Company abides to the corporate policy of personal data protection. After reading this Agreement, you are aware of the essence of the written policy and agree with the policies of the company.