Lexatrade Review Is it good, or is it a scam?
Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability.
Risk Warning:
It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. 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. This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
Lexatrade offers personal account managers to its users and they help in trading. 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. Dealing with an unregulated company like LexaTrade increases the risk factor of your money. Once the money is deposited with it, it stops responding to the queries.. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge.
LexaTrade Review: Key Insights, Platform Performance & Is It Right for You?
That being said, they are very new at the time of this review, so there is time for improvement. The overall 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 lexatrade review maybe that’s not a deal breaker.
- 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.
- These platforms are popular among traders due to their advanced features, which are defined below.
- That being said, they are very new at the time of this review, so there is time for improvement.
- This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds.
- If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.
The charges are higher compared to the platform we have reviewed so far. The spreads vary on the account type and the instrument traders trade in. 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.
LexaTrade Scam Indicators: Pros and Cons Recap
In legitimate platforms, fees are typically clear and transparent from the beginning. LexaTrade’s hidden and restrictive charges are additional indicators of potentially unethical practices. They even have affiliates who individually promote platforms to others and force them to invest maximum money. Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back. We are back with our unbiased review of LexaTrade, an online trading broker company.
Is LexaTrade a Scam? Honest Review 2023
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. MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike.
These platforms are popular among traders due to their advanced features, which are defined below. When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency. This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework.
They entice with promises of doubling the deposit within 24 hours and similar claims. After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds. The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities.
Recent Comments