While the first account is cheap, lexatrade.com also robbed it of most features. As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator. Daily Market News are financial reports that thoroughly assess the impact of global events on the financial markets.
Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. 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. 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.
- During the phone conversation, no additional agreements are made between the Client and the manager.
- The broker’s offer does actually seem decent enough, but the presentation isn’t up to par.
- During the transaction, the indicators will be changed and, depending on profit or loss, are presented in your personal account upon completion of the transaction.
- The company offers types of spreads such (i.e. fixed and floating) depending on the type of accounts.
- You are aware that a third party is involved only to complete the transaction.
Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms. It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully.
With this agreement, you confirm and accept the specified information, remove the liability from the Company for possible incurred losses during trading. The company is obliged to offer bonuses and the opportunity to participate in promotions to both new and existing customers. In https://cryptolisting.org/ case of suspicion of the delinquency by the Client of the terms of this agreement, the company may refuse to process the request for withdrawal of funds. As a member of the service, you are provided with a large range of information, various data, and other related materials.
Lexatrade Review – Is it good, or is it a scam?
LexaTrade’s MT4 web terminal is a safe, secure trading platform that uses advanced technology and high-quality terminal work. It is compatible with any browser and can combine various commercial operations. It also provides listing charts that can be customized according to shifting time ranges. MT4 platform is a classic choice, especially for Forex trading, and has been trusted by expert traders since it was released in 2005. LexaTrade forex broker will give you a 70% welcome bonus and medium priority for withdrawals if you choose a gold account. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader.
Regulatory Affiliation & Safety of Funds
LexaTrade is a newly launched, regulated broker 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. 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.
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. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well.
After analyzing the detailed LexaTrade review, we can say the company is totally a scam. 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.
Every broker has received negative feedback from customers, critics, and even the general trading industry was accused of cheating. It is a common thing in industries where services are the main product of companies. Even the most reliable companies that have graced the top brokers’ list for many years is lexatrade legal in india have received negative feedback. 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.
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. Advance bonus is provided by the Company to customers as agreed with the customers before the clients reload the account provided that the clients reload the account. The Company reserves the right to withhold the amounts of such taxes and to invoice the Customer for any taxes to which this clause can be applied to.
It looks like the broker took stock images, put them in boxes, and called it a day. Of course, broker appearance is nearly entirely irrelevant, but our point is that Lexatrade looks like something hastily put together.
As our Client, you understand that the company does not hold consultations and is not responsible for the actions you have taken. A “stop-out” level is available at the service at which, any open transactions will be completed in order to prevent possible losses. The Client has the right to conduct transactions by phone during the working hours of the service. By agreeing to the terms of this agreement, you acknowledge that all information provided by you when opening an account is true and accurate.
By agreeing to the terms of this document, you confirm that no claims should be committed on your behalf by the third party. In case the Client makes a deposit via bank transfer, the Client can use only one bank account, which is registered in his country of residence. You agree to send an acknowledgment of the transfer in accordance with the standards. In the case when the Client does not provide a confirmation of the deposit, sent via a bank transfer can be returned. We are not in any way responsible for information provided by third parties. The company provides materials for review and is not responsible for the perception of information by the Client.
The Bonus for Replenishment is provided by the Company when customers deposit funds into their account. All agreements with the Client regarding withdrawal of funds remain valid upon completion of the contractual relationship. During the transaction, the indicators will be changed and, depending on profit or loss, are presented in your personal account upon completion of the transaction. In making a decision to copy a specific trader or traders, strategy and/or portfolio, you should consider your financial situation, including your financial commitments. You should understand that copy trading is highly speculative and that you could sustain significant losses. All profits or losses are stored in the Customer’s personal account, after the deposit and until withdrawal.