However, LexaTrade reviews found online do not always lean toward negative. There are also broker review sites that speak well about the broker. Most of these positive reviews describe bonuses and promos. We present your user reviews, according to the rating of a broker.
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Some negative reviews exist, but they are likely to be ordered by competitors because there aren’t any photos. On the LexaTrade website, everybody can have a personal profile. Also, some other people can act through your LexaTrade login. Most likely, these reviews were written by the company’s competitors. LexaTrade review on the site ends with a section with links to the company’s documentation. I learned about the company much earlier, but I came across a network about the negative about it.
Thoughts on “LexaTrade: Dispelling Libel Against an Honest Broker”
While there are also legitimate negative reviews about other brokers, it is important to discern which ones are legitimate and are coming from actual clients. The trading industry is a tight, competitive area where brokers fight against one another. Identifying which reviews are true is also a skill that any aspiring trader must acquire. LexaTrade offers high-quality services to a wide range of clients. These are the reasons why LexaTrade has earned the trust of its global customers.
Platform includes a customization feature that comes with listing charts and shifting time ranges. The LexaTrade forex broker ensures their clients the best trading experience, offering various benefits and bonuses throughout the year. But most importantly, these benefits are immediately laid out for new clients. We provide broker reviews and ratings to help users find a suitable broker according to their own needs.
LexaTrade Review: Fees, Commission & Spreads
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. Brokers required various licenses and regulators’ approval to serve investors and traders. Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back. Lexatrade offers personal account managers to its users and they help in trading.
One of the primary concerns with LexaTrade is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others. 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.
Company Background
LexaTrade is a forex broker that offers services in currencies, cryptocurrencies, commodities, stock, and indices trading. It is a brand name of Swissone Group Ltd. registered in Saint Vincent and the Grenadines. Its multi-asset trading services have garnered the trust of its clients and has earned it a spot in the top forex brokers in industry. Aside from throwing shades to broker, some online client reviews also burst out that LexaTrade scammed them by not allowing them to withdraw their funds from their accounts. Albeit contrary to one client review above, the issue can be easily identified as a misinformed judgment on the client’s part.
On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. 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.
These accounts come with varying features and minimum deposit requirements, allowing traders to choose the one that best matches their needs. LexaTrade offers several trading platforms to cater to different types of traders, from beginners to advanced users. The platforms are designed to be accessible, intuitive, and feature-rich. And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. So, in Russia it is the Central Bank of the Russian Federation.
Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument. The spread varies depending on the account type and the financial instrument being traded. Each account type comes with its own set of perks, with the higher account types offering the best perks and benefits. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement.
- Most of these positive reviews describe bonuses and promos.
- It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies.
- The information that these tools give are enough to forecast the probable results of each deal.
- Thanks to several such options, the broker easily monitors the demographic situation among traders and their needs.
- It also includes the date when the forecasted value is expected to happen so traders can prepare.
- TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation.
All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders.
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- Yet, questions remain whether this regulatory affiliation is strong enough to set aside fears of losing trading funds of clients in the event of insolvency.
- EvenInsight.com, a venture of Even Insight Technology, specializes in cybersecurity and website analysis.
- LexaTrade offers competitive spreads, with forex pairs starting from around 1.5 pips.
- We are back with our unbiased review of LexaTrade, an online trading broker company.
This is a simple fact in the trading industry, where competition can sometimes be cutthroat. Below is an analysis of some negative reviews hurled towards LexaTrade. It is praised for various reasons–from trading platforms to payment methods and its profitability. It is acquiring more and more clients as it continues to improve on the best services it could offer. Given the abundance of warning signs, potential investors are advised to avoid LexaTrade. Numerous reports indicate that this platform may be a scam, with serious issues related to funds accessibility, aggressive tactics, and regulatory opacity.
You should fill in the basic personal information, including your name, email, and contact number. Gaining more traders, LexaTrade expanded its services to different jurisdictions across continents. In 2019, LexaTrade amassed more than 2 million merchants worldwide.
Red Flags Indicating Potential Scam Activity
LexaTrade’s live support team is also available to help any client with it. Trading with LexaTrade lets you invest in globally-traded assets like U.S. oil, Brent, and spot gold. Knowing which markets and assets you can trade is an lexatrade review integral part of choosing a broker.
The readers are only given an idea of what the online trading community thinks of a LexaTrade broker. These online venues are unfiltered and, at times, uninformed and misguided. Unsubstantiated LexaTrade reviews in social media cannot be grounds for an objective assessment of broker work. It fully meets the expectations of even professional traders and is not inferior in functionality to popular MT4. Keep reading the LexaTrade rezension to know more about Forex broker, its services, and real reviews on work.