Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. 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. With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. Reviews and reports from users suggest issues that point to LexaTrade being a potential scam, primarily due to limited regulatory transparency, suspicious practices, and challenges in withdrawing funds.
Is this your company?
Hope the above information is enough to know the basics of LexaTarde, account types, its services, fees and referral program. LexaTrade began by managing cash transactions in real-time trading using PAMM accounts. Over time, it has grown and developed advanced trading solutions and a variety of financial instruments, becoming a well-known online brokerage brand. The only extra worth mentioning is the Autochartist which is available right on the trading platform 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. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.
- These patterns align with other known scams in the financial sector, where similar methods are used to extract and retain funds from investors without delivering on the advertised services.
- However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point.
- In legitimate platforms, fees are typically clear and transparent from the beginning.
- Scammers employ persuasive tactics to convince you to make an initial minimum deposit.
I lost so much and was really…
The overall lexatrade reviews structure of the accounts at LexaTrade is too expensive in my opinion and putting a $10,000 barrier between the trader and MT4 means that the majority of clients will not use this platform. 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. 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. The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices.
Given the abundance of warning signs, potential investors are advised to avoid LexaTrade. Numerous reports indicate that this platform may be a scam, with serious issues related to funds accessibility, aggressive tactics, and regulatory opacity. For those looking to enter the trading market, many reputable and transparent platforms offer safer and more secure services. LexaTrade claims to be an online brokerage offering access to various financial instruments such as forex, indices, and commodities. While the platform appears well-structured on the surface, a closer examination reveals troubling details. LexaTrade is a financial trading platform that offers a range of financial instruments for traders to choose from, including contracts for difference (CFDs), foreign exchange (FX), and cryptocurrencies.
People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction. Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies. LexaTrade has a referral program in which you’ll receive up to 50% deposit amount as a commission. LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.
Regulation
LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability. The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. 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.
There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument.
Trading Tool
As per the whois data, the domain Lexatrade.com was registered in September 2018, and according to similar web data it has around 13k monthly traffic from Kenya (60%) and India (26%). Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Claim your profile to access Trustpilot’s free business tools and connect with customers. 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.
The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. LexaTrade is an online financial services company thats been providing superior and transparent trading services to all traders across the world in the trading markets. LexaTrade offers diverse trading instruments such as Forex, Commodities, Indices and Shares. LexaTrade is licensed and regulated by the International Financial Market Relations Regulation Center (IFMRRC). LexaTrade advertises several account types, from basic to VIP, each with distinct perks. In conclusion, while the promise of easy trading may be tempting, LexaTrade is fraught with risks that make it unsuitable for investors who prioritize security and legitimacy.
This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework. Unregulated entities can potentially abscond with your money without being held accountable. Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
