One of the security measures that LexaTrade has imposed for the safety of its clients is strict payment procedures. The broker only accepts one method in deposit and withdrawal processes to prevent theft. It only partners with trusted global banks in handling their clients’ funds in segregated accounts. They also implement Negative Balance Protection, which prevents each client’s funds from reaching zero. These features are designed to enhance the trading experience and provide additional support to users. LexaTrade has focused on expanding its services across various countries, adapting its offerings to meet the needs of diverse markets.

Although the verification procedure is not easy, anything can be done. You take a photo of your documents (two documents), the company checks them and that’s it. According to LexaTrade rezension, it supports four financial markets. Company provides a brief overview of each market and a short list of assets, which clients can trade. LexaTrade wants to make sure their clients are knowledgeable about any trade before they begin.

Traders can use Visa, MasterCard, several wire transfers, Skrill, and several other e-wallets. However, the broker is not specific about its fees for funding and withdrawals, and processing times are not disclosed either. Higher-tier accounts offer faster withdrawal priority, but exact times are unclear, which is a serious red flag. There are no details on whether the broker offers a negative balance protection policy, which prevents traders from losing more than their initial investment. In this review of LexaTrade, we will assess its safety, accounts, leverage, profit withdrawals, trading costs, support, and much more. LexaTrade is an unlicensed offshore Forex and CFDs broker, offering multiple trading accounts and access to a multitude of different asset classes.

LexaTrade Trading Conditions: Instruments and Tools

Trading platform works only on business days (recently there were a lot of days off), after paying $ 250 my capital increased by about 130%. By the way, I would like to thank my advisor-guardian, Mrs. Alicja K., who helps me a lot in making the right decisions. I highly appreciate her knowledge about trading and courtesy in business contacts.

lexatrade.org has a low trust score. Why?

Instead, the company lists a registration in a region known for lenient financial oversight. Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are popular among traders due to their advanced features, which are defined below. In this type of fraud, the scammer slowly builds a fake friendship or romantic bond with the victim through social media, dating apps, or messaging platforms.

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These fake systems show charts, fake balances, and even live chat to trick people. The goal is to make victims believe their money is growing fast, so they keep depositing more. Always choose regulated investment firms, verify licenses before sending money, and stay cautious of platforms promising fast or guaranteed profits. No educational resources are available as there are no webinars, trading courses, or video content. There are deposit bonuses offered, but traders need higher-tier accounts to get higher bonus amounts, which is not convenient at all. No promos are available at the moment, which is also a drawback for this broker.

Best Forex Indicators: The Complete Technical Trader’s Guide

However, lexatrade owner the platform’s mere presence does not compensate for the absence of strong regulatory backing. 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. Scammers create websites or apps that look like real investment platforms.

Customer support at LexaTrade is provided via live chat and email channels. There is no phone support option available, which is a serious red flag. While live chat is the fastest way to contact the broker, phone support has its place when it comes to internet issues and other difficulties. The website is mobile-friendly, but the broker is not multilingual, which is also a noticeable drawback of LexaTrade. LexaTrade lacks educational resources, as no learning materials are available. The lack of webinars and trading courses makes the broker unsuitable for beginners.

thoughts on “Is LexaTrade a Scam? Honest Review 2023”

  • If they are not even legally registered then how can get approval from financial regulators?
  • If the forex market is volatile, the commodities markets go through even higher levels of volatility, which means trades must be carefully decided upon.
  • Spreads start at 1.6 pips, and deposits are very high, making it one of the more expensive offshore brokers.
  • One of the security measures that LexaTrade has imposed for the safety of its clients is strict payment procedures.

Additionally, many such brokers close operations abruptly or rebrand under a new name, leaving clients without any support or recovery options. LexaTrade provides multiple account types, each with varying levels of features such as access to market research, dedicated support, and faster execution speeds. The structure of these accounts appears to encourage clients to deposit more money in order to receive better trading conditions. This tiered structure is a common feature among both legitimate and questionable brokers. However, the problem arises when the broker places excessive emphasis on larger deposits without offering proportional benefits or transparency.

However, it does not accept clients from the United States or certain other regions due to regulatory restrictions. LexaTrade claims to be regulated by the IFMRRC, a regulatory body that oversees various brokerage firms. However, the credibility of this regulation is often questioned due to the lack of stringent oversight compared to more established regulators like the FCA (UK) or ASIC (Australia).

  • Platinum account of LexaTrade broker takes the advantages and perks of previous accounts to a higher level.
  • Whilst we try to keep information accurate and up to date, things can change without notice and therefore you should do your own research.
  • However, the platform’s mere presence does not compensate for the absence of strong regulatory backing.

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. 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. LexaTrade’s offering of the MT4 comes in a web version and it is compatible with any browser.

Reviews like “LexaTrade cheating” or “LexaTrade scammer” are nothing short of slander that only benefit the competitor. Even legitimate clients cannot benefit from false claims as it gives them a distorted view of a broker’s reputation. LexaTrade developed its own proprietary trading platform displaying a high-level of functionality, speed, and profitability.