It does not provide any evidence that he was scammed by LexaTrade, or any idea of problems that Urbanek has encountered with the broker, hinting at the probability of reviews illegitimacy. False statements like these are easy to create but have a dangerous impact on the broker’s reputation. Reviews like “LexaTrade cheating” or “LexaTrade scammer” are nothing short of slander that only benefit the competitor. Even legitimate clients cannot benefit from false claims as it gives them a distorted view of a broker’s reputation. Platinum account of LexaTrade broker takes the advantages and perks of previous accounts to a higher level. It was curated specifically for advanced traders who invest both in short and long-term.
LexaTrade fails to provide any information about its staff on its website and promise fake returns. These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform. Fill the form below or Use our Chatbot and get a Free Consultation from CNC Intelligence Experts, they can assist you by investigating your case and tracing your funds. You should also contact your bank as soon as possible and let them know about your issue.
AscendEX Review
Scammers employ persuasive tactics to convince you to make an initial minimum deposit. They entice with promises of doubling the deposit within is lexatrade regulated 24 hours and similar claims. After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds.
User-Friendliness 17/20
LexaTrade is a relatively new broker in the online trading space, offering a range of financial instruments, including Forex, CFDs, stocks, commodities, and indices. Despite its recent emergence, LexaTrade has quickly gained attention due to its user-friendly platform, competitive spreads, and diverse product offerings. However, as with any trading platform, potential traders must carefully evaluate the features, fees, and overall trading experience before committing real funds. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.
Aside from trading, clients can open positions, manage their account, and execute trades without delay. They can also set stop loss and take profit, track the movement of quotes, check forecasts for different instruments, and view their account balance. LexaTrade offers a diverse range of trading instruments and platforms, making it appealing to beginner and intermediate traders. However, its regulatory shortcomings, high trading costs, and numerous user complaints make it a questionable choice for anyone prioritizing safety and transparency.
- False statements like these are easy to create but have a dangerous impact on the broker’s reputation.
- This is an area where caution is advised, as regulatory oversight is a critical part of ensuring the safety of your funds.
- Black propaganda such as scammed by LexaTrade against the broker being stirred by its competitors can be another possibility to take into account.
- That being said, caution should be used anytime money is involved, with all brokers, old or new.
- This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds.
- The LexaTrade forex broker ensures their clients the best trading experience, offering various benefits and bonuses throughout the year.
- The broker is headquartered in Saint Vincent and the Grenadines, a popular domicile to offshore brokers (since most brokers based in Saint Vincent and the Grenadines are unregulated brokers).
Octrado Review: Features, Levels, and Support
Trading accounts offered by LexaTrade are categorized into different types of traders. They were set specifically for catering to beginners, intermediate, professional, advanced, and expert traders. According to LexaTrade official site, the broker provides up to five account types. These accounts come with varying features and minimum deposit requirements, allowing traders to choose the one that best matches their needs. 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.
The support team is problem-solving and responds quickly, so the overall communication with the team was great. The user-friendly UI of the platform helps both beginner and professional alike. Aside from throwing shades to 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, 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.
Commodities
TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Currently, LexaTrade is not fully regulated by major financial authorities such as the UK’s FCA or the US’s CFTC, which is a significant factor to consider when assessing its reliability.
- But most importantly, these benefits are immediately laid out for new clients.
- The server operator Almina Corp as is not a registered broker, investment advisor or broker.
- “If, in general terms, the company works honestly, and I would not say that there are some illegal actions.
- It improves its services based on what its clients ask for to work on the market, and this has earned the trust of traders everywhere.
- After a thorough review of the trading aspects of the broker, let us now conclude our assessment of the LexaTrade forex broker.
- Any rates, terms, products and services on third-party websites are subject to change without notice.
- Dealing with an unregulated company like LexaTrade increases the risk factor of your money.
LexaTrade provides a Web platform armed with a wide range of tools, risk-management features, and best trading solutions. Aside from hefty welcome bonuses ranging from 30% to 120% of initial deposit, LexaTrade also gives a referral bonus. Up to 50% of the total amount of the referred client’s initial deposit will be awarded to the referring trader. Browsing broker’s official site, Lexatarde asserted the legality of its business operation and its regulatory compliance with the International Financial Market Relations Regulation Center (IFMRRC). We do not provide investment advice or solicitation of any kind to buy or sell any investment products. Trading carries a high level of risk and may not be suitable for all investors.
Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker. That being said, they are very new at the time of this review, so there is time for improvement. To sign up for any of the above-mentioned account types, all you have to do is simply fill in an online registration form available on its Lexatrade website. You should fill in the basic personal information, including your name, email, and contact number. Gaining more traders, LexaTrade expanded its services to different jurisdictions across continents. On its way to mainstream brokerage service, LexaTrade is starting to be a force to reckon with in terms of trading solutions.
However, it is crucial to note that not all client reviews came from the real clients of the broker. This time, we will feature some of the feedback and reviews of current LexaTrade clients to give us some first-hand experiences with the broker and how they feel toward their service provider. LexaTrade ReviewProper regulations usually ensure that forex brokers are sufficiently capitalized in the event of insolvency or trading losses. It also guarantees the broker’s commitment to maintaining satisfactory dealing practices and keeping your money in secure and segregated accounts. In terms of security, LexaTrade uses SSL encryption to protect sensitive data, which is standard for most brokers.
The information that these tools give are enough to forecast the probable results of each deal. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. We aren’t the biggest fan of the huge jumps between the sums you need for different account types. However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point.