The broker set up strict payment procedures for the safety of the trader’s funds and to prevent financial theft. The broker even partners with reliable and trusted international banking institutions while steering their corporate funds. Cheapest and most expensive aren’t the most precise terms, as there’s no actual cost attached to the account. However, we can’t neglect the fact that $100,000 is a hefty sum and isn’t something anyone can reach. As such, our Lexatrade review isn’t off to the greatest start.
- You ought to receive an instant reply to your query, if not fast.
- Many Complaints and negative LexaTrade reviews and other possible scam features can also be the reason.
- However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it.
- If you have already deposited money with LexaTrade, and you have been unable to make withdrawals; which is very likely, don’t worry, there may be a way or two to get your money back.
We check the account with its corresponding deposit
and leverage. Most of the scammers are experienced manipulators and before you know it they’d ask for your bank card numbers to assist you with the deposit. There is also a chance to become a victim of Identity theft, experiencing many more problems consequently. To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this investment firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY.
LexaTrade
However, the translation itself is shoddy, so the website ends up looking unprofessional. Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries. This includes video courses and E-books, similarly the https://cryptolisting.org/blog/5-of-the-worlds-top-bitcoin-millionaires questionnaire section offers the questions related to customer’s feedback on the platform. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. However, it holds a licence from the International Financial Market Relations Regulation Center.
- To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo.
- After analyzing the detailed LexaTrade review, we can say the company is totally a scam.
- As such, we can’t hold the deposit requirement for MT4 against the broker too much.
- Also, they shared one video with a paid actor claiming him to be a staff member.
- Information about withdrawals is missing and this should be addressed by LexaTrade.
- MT4 is one the world’s most famous and reliable trading platforms for Forex.
Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform. Investing in indices such as NAS100, EUR50, JPN225, and USA30 provides several advantages to traders who are interested in index trading. Fill out the application form with your personal information, including your name, mobile number, email address, and a secure password.
LexaTrade Ratings
The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. 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.
Brokers that are not regulated mostly operate in the following manner. They will reach out to people through various means like phone calls, or social media; to persuade them to make the initial minimum deposit. We wouldn’t recommend using this forex brokerage, they do
not impress us with the vague information they have provided. In this portion of the review, we aim to explore the account
types a broker might have.
PLATINUM ACCOUNT
The broker offers different types of accounts to its clients for better trading experience. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges.
X CRITICAL MOBILE APP
We will help you present your case to your bank, credit card company, and cryptocurrency merchants. But first, you must have evidence of the scam as proof that you haven’t been able to make a withdrawal. If LexaTrade is doing any of these things to avoid releasing your funds, do not hesitate to leave a comment to warn others. LexaTrade allows you to contact them through telephone contact and email. Your financial security is of paramount importance to us, and we fervently endorse the exercise of due diligence and seeking professional guidance when making investment decisions.
The platform offers a long list of trading instruments, is regulated and most importantly, is not a scam. The broker offers its traders two platforms, as we’ve indicated earlier in our Lexatrade review. And even then, you only get the web version, and you need the $50,000 account for the full unlock.
The broker also provides different trading assets for higher liquidity with high leverage and low spreads. XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle. They can open positions, execute trades quickly, and monitor their account balance from anywhere, at any time. Whether a beginner or an experienced trader, the XCritical mobile app is a great way to enhance your trading experience.
With their 24-hour client service team, you can get the support you need whenever you need it. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions.
But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. As you progress through the accounts, the bonus we mentioned earlier in our Lexatrade review grows. Similar bonuses often have thick strings attached, so be sure to read the terms if you intend to invest. The trader can contact LexaTrade customer care to recover their money.
Have control over your money as we provide the favorable terms
So there’s the argument that some regulation is better than none, and that does hold up. But there’s also the fact that while it’s better than nothing, it’s not a significant improvement. So the regulation may impose negligible limits on the broker while generating a false sense of confidence for potential customers. IFMRRC stands for International Financial Market Relations Regulation Center.