Lexatrade Review ++ Scam Or Not?

They have not only grown in numbers but also expanded their product offering greatly. Review Loads of cryptocurrency and blockchain project reviews for your education. First deposit bonus – Receive 50% or an up to $2000 tradable bonus based on your first deposit. Implementing a comprehensive risk management strategy, created by senior management.

Lexatrade forex brokers reviews

However, they do adhere to the digital security stipulations – Secured Socket Layer and KYC rules. Lexatrade has had impressive longevity in the Forex brokerage industry without any significant security incidents. During its history, Lexatrade has executed more than 56 million orders for over 14,000 clients, reaching a trading volume that exceeds 2.9 trillion dollars. We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site.

Fees And Costs For Traders

The forward option is currently available on 39 different forex pairs. Another really important consideration for any trader has to be the fees and spreads. These are, after all, the factors which can directly impact on your trading returns over the long term. Their customer base is made up mostly by clients from Europe and Australia and they do not have a presence in the USA. This means that USA-based investors cannot be customers of this broker at this point. The company was established in 2003 which means that they are old pros in the business and know how to successfully trade. Their regulation policy ensures that the company funds are separated from the clients’ funds to ensure transparency and integrity.

CySEC Forex brokers can operate in any part of the EU with a valid CySEC license, which allows Lexatrade to offers its services to traders from the EU without any additional licenses. Lexatrade has countered the shortage of investment into MT4 by creating their proprietary webtrader, advertised as an intuitive, powerful, and simplified trading platform. Two of the core features marketed by this broker, dealCancellation and Freeze Rate, are exclusively granted in this platform. The Lexatrade webtrader also comes with a hidden cost to traders in the form of higher spreads, which is quite unfortunate, lexatrade courses scam and may serve as a deterrent from traders choosing this option. Options trading is provided through this platform as well, and traders who seek the full range of products and services offered are forced to pay more for access to them. Lexatrade offers an excellent feature for their client, known as the dealCancellation option, which allows traders to undo their losing trades with 60 minutes of opening a position. DealCancellation is especially useful for trading news events and investing in the markets during volatile market conditions, but traders can also use this option during regular market hours.

Lexatrade forex brokers reviews

The broker’s attempt at providing research is less than ideal, even though the education section is respectable. From a trader’s perspective, the high trading costs, coupled with the choice between two mediocre trading platforms make this broker a second-tier option. Traders would be wise to consider other options despite the polished impression Lexatrade website conveys.

The Complete Lexatrade Review 2022

Unlike with the options, the easyTrade is done through the standard web platform and mobile app. The standard trade parameters are the direction of the trade as well as the amount at risk and the expiry time. The minimum deposit at Lexatrade for European and VIP traders is €/$/£100. Traders outside Europe with a standard account are required to deposit a minimum of €/$/£200.

Lexatrade forex brokers reviews

Easy-Markets provides web, desktop and mobile platforms for trading FX, commodities and futures. As the most veteran company in our ‘Most Recommended Forex Brokers List for 2015’, Easy-Markets truly is a market leader. Lexatrade boasts impressive operational statistics but its trading conditions don’t compete well with other leading Forex brokers. Spreads are high and they charge traders for the usage of its proprietary trading platform through higher spreads than those available in the broker’s MT4 platform. Lexatrade is an industry-changing, well-regulated broker that should work well for beginners to advanced traders, though U.S.-based traders need to find another broker.

I will also give you some top trading tips you need to consider. Guides Our blockchain guides will help you find your way through exchanges, tools, and other crypto apps. Refer a friend – Register for the refer and earn program at Lexatrade and you can get paid for every new trader you introduce to the broker. DealCancellation scammed by lexatrade – This feature allows you to undo losing trades within an hour for a small fee and protect yourself against unexpected volatility. This is perfect for those who trade ahead of news and events where the outcome cannot be guaranteed. Keeping all client funds segregated from Lexatrade company funds.

Overall, Lexatrade offers a relatively limited suite of trading tools compared to its large international competitors, but it provides excellent risk management and technical analysis tools. The Lexatrade mobile app has more features than the standard MT4 equivalent. It’s user-friendly, fast, easy to navigate, and comes standard with all additional trading features offered on the Lexatrade desktop platform. Lexatrade supports MT4 and the mobile suite of the MetaTrader tools, along with its proprietary platform, developed in-house. The Lexatrade platform comes with a set of unique risk management tools that are not available on MT4. Lexatrade offers two trading platforms, which is average when compared to other brokers.

Minimum Deposit

Lexatrade offers multiple trading platforms suited to new and seasoned traders. You can choose from its proprietary web-based platform or MetaTrader 4 or mobile app. Also, you can check here the best forex trading signal providers that suit you. Additionally, they provide you full access to other features such as free guaranteed stop loss, fixed spreads, negative balance protection, zero slippage, and no withdrawal fees. Lexatrade is committed to its clients for creating a trade-friendly atmosphere by offering innovative features on a consistent basis. Besides, they’ve been excellent in their 24/5 customer support via phone, email, and live chat. Like all Forex brokers claiming a prominent position within the trading industry, Lexatrade provides potential clients free access to a demo account, preloaded with a virtual sum of $10,000.

Lexatrade forex brokers reviews

You need to place a withdrawal request to get your money transferred to your bank account via a credit or debit card, wire transfer, or eWallets. Definitely, Lexatrade is well-regulated by three international financial authorities – ASIC, CySEC, and FSA. Lexatrade Academy provides free of charge CFD trading education courses. It is unfortunate that you feel this way since throughout your trading activity with us we supported you and provided you with any assistance required.

Who Runs Lexatrade?

Also, monies will usually only be refunded to accounts in the same name as the trading account. Bitcoin is the digital currency with the largest market capitalisation and price levels and dominates 50% of the total crypto market cap. Although provided as the basic version, the MT4 trading platform remains the best choice available. The primary MT4 platform lacks core features and represents a sub-standard trading portal. The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader. It charges substantial spreads across assets; for example, the EUR/USD has a 0.9 pips spread, and many other pairs carry an even higher mark-up.

Lexatrade forex brokers reviews

Most of these tools can be used also and in the mobile platform of the broker. Lexatrade have also developed a mobile app trading platform so traders can trade anywhere and anytime they want. It is accessible, simple, intuitive, and powerful on iOS or Android devices. It gives traders access to markets everywhere whenever connected to the internet. This platform enables clients to access market news and live prices without leaving the app. It has analytical tools such as technical indicators and charts and you can monitor your account in real-time in the palm of your hand.

They have translated their website into 6 different languages in order to target the numerous different regions for potential traders. Although they do have large client coverage, there are a number of regions where they cannot accept clients from. You can see the full list on their site but perhaps the most prominent is the United States. No slippage – To stay in line with all high-quality brokers, Lexatrade has a no slippage condition which means that the price requested is the one executed for your trade. Negative balance protection – This protection ensures that your account will never drop below zero. It’s offered at no extra cost too, so no matter which account you have, you can benefit from it.

  • VIP account-holders also have access to same-day deposits and withdrawals.
  • However, depending on the destination of the withdrawal, it may take between 3 to 10 business days for funds to arrive.
  • So, the best way to check if a platform like Lexatrade is perfect for you or not is to study your requirements first.
  • The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other.
  • The requirements for minimum deposits are to be found in the account types of descriptions.

Easy Markets holds all the funds in a separate bank account “Bankwest”. The account is owned by Commonwealth Bank of Australia allowing for fast transfers and offering stability to the account. The minimum deposit usually varies from one account to the other, but the lowest is set at $200 for Standard Account lexatrade website (VIP Account is set at $50,000). The Easy Markets platform is well-known for its latest features, including an emphasis on transparent pricing and proprietary dealCancellation tool. The firm is a haven to over 300 markets and a number of trading instruments such as options, forwards, and trades.

Lexatrade does not charge any non-trading fees whatsoever, unlike many of its competitors. There are no fees for account inactivity, nor are there any kind of administration fees imposed on users. Read this comprehensive review of Lexatrade to find out whether it is the right broker for you.

Lexatrade forex brokers reviews

No more rushing to practise as much as possible because of a deadline. There is no time limit regarding how long you want to make use of the demo account, which makes it the perfect choice for those new to online trading. The minimum deposit for this account is 25 USD, making it suitable for all traders. Spreads are fixed at 1.0 pips (EUR/USD) on Lexatrade’ proprietary platform and 0.9 pips (EUR/USD) on MT4, which is, at best, around the industry average, but no commissions are charged. VIP account-holders also have access to same-day deposits and withdrawals. Between 74-89% of retail investor accounts lose money when trading CFDs.

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