LexaTrade Company Profile

LexaTrade Company Profile

lexatrade

Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. Suggested companies are based on people’s browsing tendencies.

That being said, caution should be used anytime money is involved, with all brokers, old or new. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. 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. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker.

LexaTrade

User reviews across various forums and consumer protection sites frequently highlight experiences of being unable to withdraw funds, encountering hidden charges, and even outright losing access to their accounts. 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. 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.

  1. That being said, they are very new at the time of this review, so there is time for improvement.
  2. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one.
  3. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.
  4. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.
  5. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
  6. 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.

Should I Open An Account With LexaTrade?

LexaTrade advertises several account types, from basic to VIP, each with distinct perks. 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

Information about withdrawals is missing and this should be addressed by LexaTrade. 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 broker offers a balanced mix of functionality and user-friendliness. It doesn’t throw complicated terms at you, and you don’t have to be a trading wizard to use their platform, but on the other hand, if you are a technical trader, their platform offers enough features to keep you satisfied. 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. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.

Autochartist signals are available at the bottom of the trading platform and while this is not a game changer, it’s still something worth mentioning, especially because some brokers charge you for Autochartist. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours. 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. 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 maybe that’s lexatrade not a deal breaker. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. 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.

LexaTrade Ratings

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. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted.

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. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. 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. Considering the consistent patterns of suspicious activity and user complaints, it is best to explore alternative brokers that offer verifiable regulatory compliance, clear fee structures, and reliable customer support.

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. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.

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. We use dedicated people and clever technology to safeguard our platform. 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.

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