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So, if you have a question or a problem, you can contact the support and they’ll most likely help. The only thing you won’t be able to do unless you sign up for a better account type is the help from analysts. Lexatrade is an interesting choice for a trading platform. They have some very interesting ideas and offers, but it’s also understandable why so many people are pushed away from this broker. While LexaTrade is equipped with impressive advantages, it still faces negative reviews.
However, there are several points that indicate that you still shouldn’t trust this broker completely. If you can tolerate this uncomfortable state of things, then you may find that Lexatrade is actually pretty decent when it comes to trading and dealing with users. There are also indices, stock and commodities, but you’ll have to unlock them first. This restrictive policy is extended to other things also – the better parts of the broker are reserved for the more well-off customers. They have their own Web trading system, as well as a trading app.
- But then, if you chose poorly, you can lose your money to an untrustworthy broker.
- The most interesting about this platform is its automated trading option, completely providing high efficacy and larger margin of profitability for its traders.
- I learned about the company much earlier, but I came across a network about the negative about it.
- They have their own Web trading system, as well as a trading app.
- Note, however, that the broker asks for different deposits according to which account clients will open.
The most interesting about this platform is its automated trading option, completely providing high efficacy and larger margin of profitability for its traders. The withdrawing speed also suffers – Starts and Silvers will have to wait a lot longer for their transfers to process than users with other statuses. Most users will probably sign up for the Start account – the lowest-ranking one – without the second thought.
Why Lexatrade?
What you’ll see is that Lexa heavily restricts pretty much everyone below the Gold status. However, this education focus goes beyond simply providing educational material. Lexa gives you extensive information about what you can or can’t do with different types of account, as well as a full sheet of fixed low spreads for all occasions. Fortunately, client support is still available for everyone on the platform, regardless of their status.
This may be from the company’s financial malpractice or maybe from competitors’ interest to drag LexaTrade down. Regardless, we still have to consider the legal documentation presented in its official site. With license from IFMRRC, clients are ensured that all operations are legally binding and conducted under legitimate terms. “I have been working with this LexaTrade broker for six months now.
Many brokers have their own in-built exchanges and interfaces – they generally look neat and better correspond with the environment on the exchange. There are just so many frauds amongst brokers that an honest one, albeit one with poor trading conditions, is somehow very welcome. It should be noted that, although they confine you to the poor conditions when compared to the usual exchanges, they also rarely cheat you. That’s one of the main reasons why there are so many good reviews.
The user rating
As a result, I opened an account there, on which I have been trading for six months. The platform works stably, occurs smoothly and quickly. Similar to other brokerage firms, LexaTrade has its own set of benefits and setbacks.
However, those who still only contemplate working with them should look elsewhere. Note that some of them are fairly high, but that’s precisely why there is such a detailed sheet – so you wouldn’t get caught unawares. And even this is very well done, https://forexbroker-listing.com/ and the local financial specialists are truly helpful most of the time. There are no loud complaints about cheating from Lexa, even though they are always abundant. But if it’s not fraudulent now, it is still domineering, uncomfortable and fishy.
But then, if you chose poorly, you can lose your money to an untrustworthy broker. It means that if you want to trade small (for your own reasons or if you don’t trust Lexa yet), you’ll be hard-pressed from the beginning. You’ll have to use their own trading systems and be restricted to only a handful of available products. Certainly, they don’t only differ based on the amount of money you need to trade. There are certain bonuses and restrictions which you can see by scrolling further down.
Being registered in the tax-free location also means your company won’t be regulated by the trusted financial establishments. So, Lexatrade is either not controlled by any institutions at all or has only a token regulation. The users who use it claim it’s a very good broker with responsive teams of support and clean reputation. But the wider community tends to disagree – there’s a lot of points that simply can’t help but attract criticism. At a first glance, there are many potential flaws and perks, but you can’t really tell how they play out unless you try this platform for yourself.
Subscribing to LexaTrade Forex Broker
They also give you all the information they can about the way your transfer will go. The support itself is also 24/7 and multilingual, which is a very nice touch, considering they are mostly very restrictive about everything.
However, you should really pay attention to what they offer you. Included in the process is the funding, in which interested parties need to provide the means of funding, and the amount they want to deposit. Note, however, that the broker asks for different deposits according to which account clients will open. After setting this up, the information will then be subjected to verification. After going through successful evaluation, clients are given their login information and may already start live trading. As for the disadvantages it carries, its reputation is tainted mainly from the absence of tight regulatory oversight.
Lexatrade has a relatively easy method of registration. Interested parties need to visit the broker’s official site and from there, they will immediately find the registration button. After clicking, it will be redirected to a form, which needs to be completed. It requires all the necessary information including name, email, address, and telephone number. The regulars on Lexa will disagree, and it’s their right, they’ve already made some money out of it.
Another external platform that LexaTrade offers is the xCritical system. It is equipped with powerful instruments for encompassing and holistic trading experience. Its Customer Service Automation also known as the CRM fully integrates various payment processing systems. With this, users are provided with sophisticated reports. The use of xCritical also ensures stability, from deposits up to actual trading.
Below are some of the perks that clients will surely enjoy. LexaTrade is a financial solutions platform developed by Swissone Group Ltd. Its head office is located in St. Vincent and the Grenadines, a small island in the Caribbean known for its offshore status. With the absence of financial authorities, clients’ funds are exposed to intensive risk, say, for example, LexaTrade decided to shut down its business. However, they also rarely forbid the majority of their users from using other software if they feel like it.
Lexatrade Forex Broker: a Critical Review
I learned about the company much earlier, but I came across a network about the negative about it. I read in the comments on one forum the information lexatrade that «LexaTrade fraud», fraud, etc. Then he learned from a friend working with this company that all this is complete nonsense.
LexaTrade Forex Broker
In addition to this, clients’ queries are given resolution in an untimely manner, which only adds to reasons why it has been receiving negative feedback from its clients. Lastly, it charges daunting fees including a 5% commission from clients with less than 5 transactions. Its ultimatum for those inactive clients also came as a disadvantage as it charges 5% every month. Lexatrade is registered on the New Grenadines – a very popular off-shore location, especially for brokers.
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