Total Scam: LexaTrade Review

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. After pursuing this review and reading other negative LexaTrade reviews, it is clear that this broker is a scam. If you got defrauded by LexaTrade scam or some other intermediary and need to discover more about another agent, address our specialists.

• Mostly, unregulated brokers offer investment opportunities that look and sound very attractive, with the highest potential gains.
• That being said, they are very new at the time of this review, so there is time for improvement.
• Also, scammers, as you read in this ASR review, are famous for not withdrawing your money.
• The broker uses a tiered account progression where each type requires you to reach a specific threshold.
• They can open positions, execute trades quickly, and monitor their account balance from anywhere, at any time.

The minimum deposit at LexaTrade is $250m whereas its competitors offer account opening at $0. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. Trading can help you to earn extra income, but at the same time, it is also meant to lose your funds if you don’t watch out.

Could you please help me find out if this broker offers Islamic Accounts or they actually charge swap fees?

That means the accounts suit most strategies, and as such, can attract diverse groups of traders. 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.

• The genuine  features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs.
• It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including LexaTrade.
• 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.
• This broker offers a balanced mix of functionality and user-friendliness.

Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new. https://cryptolisting.org/blog/will-i-go-into-debt-if-i-use-forex-leverage-and-make-a-poor-commerce It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. LexaTrade has gained recognition as a reputable multi-asset broker by providing quality services and financial instruments to its clients.

Should I Open An Account With LexaTrade?

Also, check which brokers got the warning from the Italian regulator CONSOB. To sum up, all that has been said above in this LexaTrade review, we give you the power to decide whether the broker is a scam or not. We will help you present your case to your bank, credit card company, and cryptocurrency merchants.

LexaTrade Bonus

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. The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. 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.

Is LexaTrade A Scam?

Despite this, it is an off-shore broker restricted to operate in the US and Europe. Brokers Complaint is one of the best recovery agencies specializing in Lost Cryptocurrency funds recovery. We also help victims of Forex frauds, Binary frauds, Investment scams, Pension frauds and many other types of scams. The most commonly used trick that scammers follow is offering a high bonus. They offer appealing returns that may look promising and attractive and make you invest in that plan.

HOW TO OPEN AN ACCOUNT ON LEXATRADE?

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. After analyzing the detailed LexaTrade review, we can say the company is totally a scam.

There are also other newbie-baiting features, such as the bonus that Lexatrade offers. A deposit match isn’t inherently a bad thing, but it’s commonly used by malicious brokerages. 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.