This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework. Unregulated entities can potentially abscond with your money without being held accountable. A mobile platform is available but Demo accounts are not; US traders are not accepted. 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.
Our goal is to deliver a high standard of products and services to help organizations with their business achievements. 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. 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. LexaTrade fails to provide any information about its staff on its website and promise fake returns.
- 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 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.
- There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.
- They even have affiliates who individually promote platforms to others and force them to lexatrade reviews invest maximum money.
- This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs.
Account Types and Fee Structure
They even have affiliates who individually lexatrade review promote platforms to others and force them to lexatrade reviews invest maximum money. But considering various reviews, we found that their so-called experts have very less knowledge and most trade signals are loss-making. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. Scammers employ persuasive tactics to convince you to make an initial minimum deposit.
This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds. While regulation alone does not determine a scam, it is an essential factor to consider. Dealing with an unregulated company like LexaTrade increases the risk factor of your money. In legitimate platforms, fees are typically clear and transparent from the beginning.
If you discover yourself in such a predicament, take the subsequent measures to recover your funds:
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. The server operator Almina Corp as is not a registered broker, investment advisor or broker.
What is the maximum deposit required for an account on LexTrade?
They entice with promises of doubling the deposit within 24 hours and similar claims. After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds. The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. 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. When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency.
Octrado Review: Features, Levels, and Support
One more significant concern is that the broker locks the MT4 platform behind the more expensive account types. The setup itself is tried and true and is one of the most common ways for brokers to structure their accounts. It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. 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.
Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability.
