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 how genuine is lexatrade advisor or broker. Lexatrade offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are popular among traders due to their advanced features, which are defined below. The financial products offered by the companies listed on this site pose a high risk and can lead to the loss of all your funds. When trading stocks, CFDs, or other derivatives, consider whether you understand the function of differential contracts and be aware of the high risk of losing your funds.
LexaTrade Account Types
As per LexaTrade conditions, if the referred client makes a deposit between $500 to $10,000, then 50% of it will be the referral bonus. LexaTrade has a referral program in which affiliates receive up to 50% of the deposit amount as a bonus. But we are skeptical about most activities and claim made by LexaTrade. We use dedicated people and clever technology to safeguard our platform. LexaTrade ensures that all client funds are kept in a segregated account from the company’s funds. EvenInsight.com is a venture of Even Insight Technology and a website for cyber security and analysis.
Is LexaTrade a Scam? Honest Review 2023
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. 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.
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. 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. We aren’t the biggest fan of the huge jumps between the sums you need for different account types.
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. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader.
- Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.
- Lower deposits, more information about deposits and withdrawals, a basic FAQ, and a demo account are just a few adjustments that would go a long way and would make LexaTrade a higher-tier broker.
- When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency.
- You should also contact your bank as soon as possible and let them know about your issue.
- However, that’s a minor complaint, as what you get for each account is actually pretty fair for the price point.
I lost so much and was really…
With the collaboration of multiple security partners, EvenInsight provides the detailed evolution of each website which empowers users to identify potential scams. Organization and company which provides financial services need to obey various policies and get approval from regulators in every jurisdiction. Lexatrade has provided very less information about its organization. It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies. LexaTrade has a referral program in which you’ll receive up to 50% deposit amount as a commission. LexaTrade charges a service charge of 5% when customers has made less than 5 independent transactions.
Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back. The case with its funding is much of the same, as there are some things that look good. For starters, there’s the fact that the cheapest account doesn’t require a huge deposit. Lexatrade is an appealing option for traders looking for a comprehensive platform that covers a wide range of financial instruments.
They even have affiliates who individually promote platforms to others and force them to invest maximum money. Even when individuals reach Lexatrade for this, Their customer executive encourages upgrading the account type to get funds back. Moreover these personal manager act as LexaTrade affiliates who enforce clients to deposit more on their platform. We are back with our unbiased review of LexaTrade, an online trading broker company.
