Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. 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. 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. Lexatrade offers personal account managers to its users and they help in trading. Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument.
Real User Experiences and Reports
- At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts.
- If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.
- In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade.
- As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus.
- LexaTrade offers diverse trading instruments such as Forex, Commodities, Indices and Shares.
They even have affiliates who individually promote platforms to others and force them to invest maximum money. 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. So don’t use this platform and research well before choosing a such platform.
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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. LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. Later they said that the amount was too low for a trade so I left the money there only to find later that the money has disappeared. LexaTrade provides a mulitlingual customer support 24/7 to deal with all queries via live chat, email and telephone. Several red flags have emerged from user experiences that cast doubt on LexaTrade’s legitimacy, making it essential to understand these warning signs before investing any money.
Lexatrade is a scam
With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. The broker doesn’t hide the fact that it’s trying to goad you into depositing more. 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.
For those looking to enter the trading market, many reputable and transparent platforms offer safer and more secure services. The financial products offered by the companies listed on this site pose a high risk and can lead to the loss of all your funds. When trading stocks, CFDs, or other derivatives, consider whether you understand the function of differential contracts and be aware of the high risk of losing your funds. 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.
LexaTrade has a referral program in which you’ll receive up to 50% deposit amount as a commission. We are back with our unbiased review of LexaTrade, an online trading broker company. 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.
LexaTrade Review: Key Insights, Platform Performance & Is It Right for You?
As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions. LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and how genuine is lexatrade more.
With the surge of online trading platforms, the potential for scams has also grown, and LexaTrade has emerged as a broker raising serious concerns. In this review, we’ll examine why users should exercise extreme caution if considering LexaTrade. Lexatrade is a global brokerage firm offering a wide range of trading services in forex, stocks, and cryptocurrencies. With a user-friendly platform and an array of educational resources, Lexatrade caters to both beginner and experienced traders.
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. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. Many people have complained that LexaTrade has locked or stolen their funds.
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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.