The representatives are adept at problem-solving, so the overall communication flow is great. 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. Again, as we said earlier in our Lexatrade review, the broker doesn’t do anything that sets off alarms.

The spreads vary on the account type and the  instrument traders trade in. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should be addressed by LexaTrade. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal.

NewsWIKIFX REPORT: LexaTrade: Getting Into the Meat of an Honest Broker

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. The genuine  features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs.

  • After pursuing this review and reading other negative LexaTrade reviews, it is clear that this broker is a scam.
  • It is important to mention that there was no specific mention of commission-related details for LexaTrade.
  • It’s by no means a strict scam, and in fact, it’s safer than the average broker, but you still need to tread carefully.
  • To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA.

There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website. There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.

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Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. Furthermore, while there are some solid conditions, they all come with high price points. And if you’re already https://cryptolisting.org/blog/utilities-payable-accountingtools depositing that much, there are many brokers that do what Lexatrade does but better. LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market.

Can I Get My Money Back From LexaTrade?

Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. Our mission is to assist millions of traders in finding the best broker. We unbiasedly review every broker and rank them based on their market standing, regulation, and other factors. Reviews are updated regularly to ensure that every trader has the most up-to-date information before making a choice. The trader can contact LexaTrade customer care to recover their money.

When it comes to the thrill of lucky wins, the feeling extends beyond just the casino floor and into various industries, including the world of trading. Much like in a casino where strategic moves and timing can lead to big payouts, platforms like MT4, one of the world’s most renowned and reliable trading platforms for Forex, offer users the chance to experience their own version of a “lucky win” through strategic trading. With its user-friendly UI that caters to both beginners and professionals alike, traders can capitalize on market movements quickly. While the platform’s charges may be slightly higher compared to others we’ve reviewed, the swift problem-solving and communication from the support team add immense value, making every successful trade feel like a lucky win.

How To Recover My Money From Forex Lexa Trade?

Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features. As such, we can’t hold the deposit requirement for MT4 against the broker too much. But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all. One fact that’s relieving and concerning at the same time is the broker’s choice of the regulator.

LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open.

Additionally, there have been reports of customers experiencing difficulties when attempting to withdraw funds, along with allegations of fraudulent practices. These factors contribute to a higher level of risk and suggest caution when considering LexaTrade as a brokerage option. The broker doesn’t hide the fact that it’s trying to goad you into depositing more. Even the withdrawal speeds increase as you go up to the higher accounts.

Also, scammers, as you read in this ASR review, are famous for not withdrawing your money. They may ask you for more and more money and never return a single penny of your earnings. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information.

LEXATRADE REVIEW

The broker’s low user ratings of 2.1, which shows the platform’s low credibility. Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. Unfortunately, LexaTrade is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority (FCA).

LexaTrade is an unregulated brokerage firm based in Saint Vincent and the Grenadines. It offers multiple account types with varying minimum deposit requirements, all supporting the use of expert advisors. The broker utilizes the MT4 trading platform, a popular choice among traders. LexaTrade offers a variety of trading platforms according to the trader’s needs. The enhanced account offering helps traders to trade efficiently and thus improves their trading game. The broker is regulated, but not efficiently by a tier 1 regulation, so clients should be careful while investing with the broker.