Is LexaTrade a Scam? Read This Brutally Honest Review

It is easy to use, always at hand, so you can work from any point. Don’t worry about it, because you can’t make a big profit in Forex trading without investment. Unfortunately, LexaTrade forex broker does not offer a demo account, where beginners can make their first steps in trading, and professional traders improve strategies. It is not a major shortcoming, but it may, to some extent, discourage some users. LexaTrade developed its own proprietary trading platform displaying a high-level of functionality, speed, and profitability.

Thoughts on “LexaTrade: Getting into the Meat of an Honest Broker”

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.

LexaTrade Web Platform

And that’s without mentioning our hunch that the broker isn’t entirely honest. Altogether, it’s just a middle-of-the-pack broker, and there are a ton of similar companies out there. It doesn’t do anything to stand out, and the vast majority of traders can easily find an option that’s both more comfortable and more powerful. 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.

Is LexaTrade A Scam?

False statements like these are easy to create but have a dangerous impact on the broker’s reputation. This is why reviews like these are most often created lexatrade by competitors. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified.

Trading with LexaTrade: Takeaway

Autochartist will save your time and select the right entry points to the market, as well as give a clear analysis of the expected goals. Trade and invest freely from anywhere on the planet with LexaTrade online platform using high-tech functionality, speed and profitability of the terminal. XCritical’s trading platform quickly gained popularity thanks to its innovative features that expanded our traders’ capabilities. Thus, LexaTrade guides investors before they start investing through their educational resources.

Of course, there are questions, but everything is successfully resolved after correspondence with tech support. Everyone should understand how to distinguish a good broker from those that are often considered scammers and why forex is a scam. We present your user reviews according to the rating of a broker. Subscribing to Social Media might not be the best idea to get an impression about the broker LexaTrade. The fact of the matter is, going to sites like Facebook will only prove to be one frustrating affair. Accusations of fraud and scam not only against LexaTrade but also with many brokers.

They also implement Negative Balance Protection, which prevents each client’s funds from reaching zero. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.

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.

1. Even without LexaTrade’s proprietary platform, MT4 and xCritical platforms are enough to render good trading conditions to create strong investment portfolios.
2. Bonus is guaranteed and will be processed speedily by LexaTrade.
3. And for sharpening and improving strategies,the broker offers many possibilities and tools.
4. LexaTrade review on the site ends with a section with links to the company’s documentation.

This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice.

There are 170 trading instruments on the platform, among them the most popular stocks and indices, precious metals and energy products. After defining your working portfolio, you can add favorite tools to your favorites, where a convenient working system was specially designed for users of the platform. For your convenient and effective trading, we have developed and implemented a new online platform. Use all the capabilities of the terminal and make profit with minimal risks.

For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well. However, the translation itself is shoddy, so the website ends up looking unprofessional.

Platinum account of LexaTrade broker takes the advantages and perks of previous accounts to a higher level. It was curated specifically for advanced traders who invest both in short and long-term. 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.

For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. 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 https://turbo-tax.org/ pretty fair for the price point. 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.

Knowing which markets and assets you can trade is an integral part of choosing a broker. Some brokerage firms offer more assets than others, and that’s what makes them the preferred choice by traders. On the other hand, trading tools and research materials are all important helpers in assessing positions and executing trades. The information that these tools give are enough to forecast the probable results of each deal. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience.

Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform. 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. 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.

XCritical is lesser known to traders than MT4, but this does not make it inferior in providing quality services. Also, a mobile platform is far more accessible and convenient than any other platform, which means traders can trade anytime and anywhere without the hassle. Aside from trading, clients can open positions, manage their account, and execute trades without delay. They can also set stop loss and take profit, track the movement of quotes, check forecasts for different instruments, and view their account balance. XCritical platform is favored by 8 out of 10 traders in the Forex trading industry. Through its mobile platform, LexaTrade users can experience the myriad of tools that the PC version had, including several trading signals and a highly-intuitive and neat interface.