However, fees and spreads may vary depending on the account type and the asset being traded. 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.
- You should fill in the basic personal information, including your name, email, and contact number.
- On its way to mainstream brokerage service, LexaTrade is starting to be a force to reckon with in terms of trading solutions.
- LexaTrade ReviewProper regulations usually ensure that forex brokers are sufficiently capitalized in the event of insolvency or trading losses.
- Broker attracted me precisely with this – in all LexaTrade reviews, it is distinguished by reliability and honesty of the company.
- Looking at reviews about LexaTrade on various websites shows that the broker is actually trusted and respected by its clients.
Regulation and Security
The Investing Brokers team have over 15 years of experience in the online brokerage industry and are committed to providing reliable information for all of the brokers that we review. Holding its business operations in Saint Vincent and the Grenadines, many traders doubt the legitimacy of the broker, let alone Lexatrade’s regulatory credential. This is because there are many traders online claiming to have been scammed by LexaTrade.
Security
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 is lexatrade regulated available but Demo accounts are not; US traders are not accepted. Overall this is a promising broker but a few tweaks here and there would make it a better one.
It offers a Start account, Silver account, Gold account, Platinum account, and VIP account. Along with the broker’s regulatory background, this broker review will also rundown key advantages and features of LexaTrade. Additionally, it will provide LexaTrade reviews from LexaTrade clients to help you picture out the broker’s overall service. Lastly, LexaTrade highlights the markets’ Reporting Season, which is the most profitable period of the year in trading. Clients are encouraged to participate in an event, and LexaTrade provides a list of the best stocks to invest in. Along with the list of tradable stocks, LexaTrade also posts stocks’ previous revenue, forecasted price, and timeframe on when to trade it.
- One of the first things traders look for when choosing a broker is regulation and security.
- Hence, it is of primary importance for a forex broker to assert its legitimacy through its regulatory certifications.
- Rates, terms, products and services on third-party websites are subject to change without notice.
- Currently, LexaTrade is not fully regulated by major financial authorities such as the UK’s FCA or the US’s CFTC, which is a significant factor to consider when assessing its reliability.
- Clients are encouraged to participate in an event, and LexaTrade provides a list of the best stocks to invest in.
- LexaTrade markets itself as a broker suitable for both beginner and experienced traders.
- Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours.
Account Types
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. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. After a thorough review of the trading aspects of the broker, let us now conclude our assessment of the LexaTrade forex broker.
This encryption ensures that your personal and financial information remains private when making deposits, withdrawals, or logging into the trading platform. 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. LexaTrade is a newly launched, regulated broker that offers CFD trading on currencies, cryptocurrencies, indices, and commodities. The owning/operating company is Swissone Group Ltd, located in St. Vincent and the Grenadines and registered with the IFMRRC – Certificate TSRF RU 0395 AA V0165. The information on Forex-mag.com does not serve as an investment or trading recommendation. The server operator Almina Corp as is not a registered broker, investment advisor or broker.
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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. LexaTrade markets itself as a broker suitable for both beginner and experienced traders. It provides access to trading in over 200 financial instruments and claims to support traders with educational materials, advanced trading platforms, and a variety of tools for market analysis. LexaTrade has proven that it belongs on the list of top forex brokers in the trading industry and meets users expectations.
Lexa Trade allows global traders to access financial markets, including Forex, Stocks etc. However, the broker has a low user rating, with mixed reviews as some complain about the platform while others appraise it. So, to help you out in deciding whether it’s a worthy broker, let’s take an in-depth look at the platform with our detailed LexaTrade review. LexaTrade is a reliable broker that provides exceptional speed, functionality, and profitability. The platform is designed to offer a convenient and user-friendly trading experience, with excellent terminals that make trading profitable while minimizing risks. With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall.
Live chat support was available at the time of our visit but a bit slow to answer. 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. The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client. We will feature some feedback and LexaTrade broker reviews of current clients to give us some first-hand experiences with the broker and how they feel toward their service provider. Looking at reviews about LexaTrade on various websites shows that the broker is actually trusted and respected by its clients.
Nowadays, it is second nature to an investor to choose an officially regulated broker with a decent regulatory history. Hence, it is of primary importance for a forex broker to assert its legitimacy through its regulatory certifications. MtT4 platform is considered as the gold-standard for every other trading platform in the trading industry.