However, withdrawals may take a bit longer, usually about 3-5 business days to process. This is to provide the necessary time for necessary transaction procedures. 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. 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.
- Using a platinum account from LexaTrade, you can enjoy a 2-hour account analysis per week.
- We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors.
- Reviews like “LexaTrade cheating” or “LexaTrade scammer” are nothing short of slander that only benefit the competitor.
- Approximately 95% of all client reviews on this website are positive.
One more thing, I found out that brokers registered in offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines, and this threatens me. I have been trading on the market for five years, of which almost two years on LexaTrade. As I could have told early, this is how forex trading would have never gone…. According to documents on LexaTrade official site, it is an officially registered company. It operates under the Swissone Group Ltd., which is based within St. Vincent and the Grenadines.
LexaTrade Review – Quick Overview
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. They vary in features but are all promoting convenient and secure trading. The strongest suit of LexaTrade is its quality services, which were noted multiple times by traders in LexaTrade broker reviews. The company has even developed its own platform to carry the brand and quality of services expected of LexaTrade.
MetaTrader4 Web Platform
However, much information regarding the same is unavailable on its website. If you’ve been following our detailed Lexatrade review 2023, you have likely noticed the platform has not much to offer to its users. The broker’s low user ratings of 2.1, which shows the platform’s low credibility. Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW.
However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. 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.
These are the reasons why LexaTrade has earned the trust of its global customers. Many clients have expressed how LexaTrade has helped them build their trading careers and increase their profits. LexaTrade Forex brokers reviews are all over the Internet as proof of broker’s reliability and professionalism. When it comes to accounts, LexaTrade provides all possible options for each client to find what they need. The broker offers five account types with clear differences. There is an account for a beginner, an intermediate, a professional, and an expert trader.
Customer Service at Lexatrade
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. This includes video courses https://cryptolisting.org/ and E-books, similarly the questionnaire section offers the questions related to customer’s feedback on the platform. This feature provides 100% insurance on the deposit amount. The promotion is applicable for deposit amounts ranging from $500 to $5,000.
These statements have no legitimate grounds and are clearly libelous. False statements like these are easy to create but have a dangerous impact on the broker’s reputation. This is why reviews like these are most often created by competitors. 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 have received negative feedback.
Given platforms are simply a free-for-all, just about anyone, regardless of education and inclination, can post whatever their ill-conceived experiences allow them to. That is why, if you only choose the Forex broker, make your decision based only on verified official information. Registration in offshore zones for some traders is a red flag. But then, it must be noted that the success of trades is not necessarily reliant on the type of broker that a trader enlists but on strategies that they employ. And for sharpening and improving strategies,the broker offers many possibilities and tools. Here you can train as a beginner and sharpen your strategies if you are an experienced Forex trader.
The financial work of the broker complies with the requirements of FMRRC (Financial Market Relations Regulation Center). We use dedicated people and clever technology to safeguard our platform. lexatrade review I thought that there would be some problems (as other brokers had with work), but there was nothing like that. Lexatrade is one the worst company with full of pathetic employees.
We’re nearly certain the broker made the accounts just to seem more open. 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. One more significant concern is that the broker locks the MT4 platform behind the more expensive account types.
It has an intuitive interface and highly-functioning terminals to make trading comfortable with minimal risks. LexaTrade platform contains more than 170 trading assets and tools to provide quality trading experience. XCritical is lesser known to traders than MT4, but this does not make it inferior in providing quality services. Also, a mobile platform is far more accessible and convenient than any other platform, which means traders can trade anytime and anywhere without the hassle.
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. All they care about is asking money from you no matter what is your condition. They will continue to pester you to deposit more n more money. They will also show from where you can get a loan and then transfer the loaned amount to them.
Along with the list of tradable stocks, LexaTrade also posts stocks’ previous revenue, forecasted price, and timeframe on when to trade it. This way, all traders can prepare their positions ahead of time. 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.
LexaTrade Review: Promotions, Bonuses & Offers
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. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.