LexaTrade does not hold licenses from any of the major authorities that typically oversee brokers. It does not appear on the registers of the United Kingdom’s Financial Conduct Authority, the Australian Securities and Investments Commission, the Cyprus Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or equivalent bodies in other jurisdictions. As such, it operates without statutory oversight or approval from these entities. The links that were included in the quoted testimonies will direct the readers to actual existing, live, and legitimate sites. As with the other brokerage firms within St. Vincent and the Grenadines, there is no trail of evidence of LexaTrade’s regulatory body.
We had thought it best to quote them directly here for the readers to see. Trading is a high-risking activity, and each trader decides himself how to interpret information. Keep reading to know what the online trading community thinks about the Lexatrade broker. To serve the cause of fairness, the reviews last segment will quote both positive and negative ones, that were gathered from various trusted brokerage review sites. The first LexaTrade review is found on TrustPilot’s page and the other one is written on LexaTrade’s Facebook page.
These clients are proof enough that LexaTrade is far from what others think about the broker and its services. Clients were not even all praises in the entirety of broker’s services, leaving some room for improvement and giving us a clear indication that LexaTrade also has its shares of flaws and setbacks. However, these shortcomings are way different from allegations of fraudulent acts and schemes. It must be stressed that all LexaTrade reviews above were taken from existing, legitimate review sites.
Overview of LexaTrade Forex Broker Advantages
MtT4 platform is considered as the gold-standard for every other trading platform in the trading industry. It was developed by MetaQuotes and launched to the public in 2005. The MT4 performs as a classic choice in trading currencies and CFDs because of its user-friendly interface, speed of execution, and high-grade terminal work. LexaTrade’s offering of the MT4 comes in a web version and it is compatible with any browser. Platform includes a customization feature that comes with listing charts and shifting time ranges.
LexaTrade: Broker Social Media Reviews
They will help you avoid errors in class so you can make your start in the profession even easier. There is also a certain affiliate program on the site, which helps customers to bring new users, promising them a bonus in return. You can communicate with people who trade on the LexaTrade lexatrade platform or sign up for actual live LexaTrade accounts.
Also pay attention to licenses from offshore countries such as the Marshall Islands or Saint Vincent and The Grenadines but isn’t just these fraudulent countries, there are several. The review site, “The Forex Review”, is the site that has been able to give many details. While the founding year had not been revealed, the site did say that the broker is a business entity under the Swissone Group Ltd., which operates within St. Vincent and the Grenadines. As of could have told early that this is the way in forex trading would have never gone….
How Real is Negative Feedback on LexaTrade?
The mobile app also provides brokers with the current account balance to easily check and replenish it when needed. Commodities are viewed as steady, long-term, highly profitable investments. Commodities being long-term investments means that they must be carefully decided. Broker LexaTrade ensures that its 24-hour client service team provides the best support to traders. Trading in commodities markets subjects you to high volatility, an excellent investment opportunity.
Financial Instruments
The spread on major currency pairs such as EUR/USD is relatively low, but the spread may widen for less liquid assets. As a relatively new broker, LexaTrade aims to build a reputation based on competitive pricing, high-quality customer service, and an intuitive user interface. However, as with all newer brokers, it’s essential to exercise caution and thoroughly assess its features and regulations. According to LexaTrade rezension, it supports four financial markets. Company provides a brief overview of each market and a short list of assets, which clients can trade.
Range of Markets, Spreads and Leverage 16/20
According to documents on LexaTrade official site, it is an officially registered company. It operates under the Swissone Group Ltd., which is based within St. Vincent and the Grenadines. The financial work of the broker complies with the requirements of FMRRC (Financial Market Relations Regulation Center). The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. A critical measure of a broker’s legitimacy is authorization by recognized financial regulators.
Editor’s Note: Why LexaTrade Doesn’t Suck in 50 Words
- Most likely, these reviews were written by the company’s competitors.
- LexaTrade’s live support team is also available to help any client with it.
- LexaTrade offers high-quality services to a wide range of clients.
- Platform includes a customization feature that comes with listing charts and shifting time ranges.
- After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds.
Despite its recent emergence, LexaTrade has quickly gained attention due to its user-friendly platform, competitive spreads, and diverse product offerings. However, as with any trading platform, potential traders must carefully evaluate the features, fees, and overall trading experience before committing real funds. Aside from Web platform, LexaTrade also offers another powerful XCritical trading platform. The XCritical mobile app has an intuitive and simple interface that easily helps traders navigate the platform. Traders can also easily track the movement of market prices and get timely feeds of current forex forecasts through the functionality of XCritical mobile apps. Since the functions of the platform are separated, traders can also open and close transactions without delay and set Stop Loss and Take Profit quickly.
Start Account
- It encourages its traders to participate in a program to maximize gains.
- Albeit contrary to one client review above, the issue can be easily identified as a misinformed judgment on the client’s part.
- It does not provide any evidence that he was scammed by LexaTrade, or any idea of problems that Urbanek has encountered with the broker, hinting at the probability of reviews illegitimacy.
- Trading in commodities markets subjects you to high volatility, an excellent investment opportunity.
- Any existing trader can sign up to participate in the program and receive incredible bonuses.
This way, all traders can prepare their positions ahead of time. Discover even more profit opportunities using the technical adviser Autochartist, which is now built into the platform. Use the most effective methods of technical analysis and make profitable trading decisions!
Being a global broker, LexaTrade has earned the praises of its clients and the ire of its detractors. Many critics have praised this broker for several reasons, while a select few spread libelous claims to destroy its reputation. Using a platinum account from LexaTrade, you can enjoy a 2-hour account analysis per week. One of the most popular bonuses it offers is the Refer a Friend program. When an existing client successfully gets another trader to sign up to LexaTrade, clients are awarded up to 50% of the deposited amount of the new client. Any existing trader can sign up to participate in the program and receive incredible bonuses.
Comente