Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries. LexaTrade is a Forex and CFD broker that offers to trade in currencies, indices, and commodities. The parent company of LexaTrade is Swissone Group Ltd, located in St. Vincent and the Grenadines. All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker.
Check out the list of scam brokers 2022 to prevent yourself from getting scammed. Brokers Complaint is always trying to find different scam brokers present in the market as well as the new emerging scam brokers to warn traders. Through LexaTrade review our aim is to warn traders not to trade with this broker because this broker is suspected to be a scam according to the research done by our team. Also lexatrade review trustpilot , lexatrade wikipedia are also showing bad numbers. Reading reviews from other traders who have experienced LexaTrade firsthand is crucial in determining the broker’s reliability. These reviews offer insights into the platform’s functionality, customer service, and overall trading experience, allowing potential investors to make informed decisions.
Could you please help me find out if this broker offers Islamic Accounts or they actually charge swap fees?
There is no mention of an inactivity fee but we cannot guarantee that you won’t be charged one. Live chat support was available at the time of our visit but a bit slow to answer. Of course, we cannot vouch for the accuracy of the signals but it’s a nice addition. Overall this is a promising broker but a few tweaks here and there would make it a better one. That being said, they are very new at the time of this review, so there is time for improvement.
- Moving forward with this LexaTrade review, we will further discuss the platform’s fees, platforms and account types.
- In this segment, we will be telling our readers about a few important points that you must look for in a broker before opening an account with them.
- The Gold account comes with the web version of MT4, while Platinum and VIP accounts give you access to the full MT4 client.
We aim to equip you with an array of objective appraisals, insightful commentary, and meticulous analysis. We uphold our commitment to precision through rigorous data validation and consultations with industry experts. It’s essential to recognize that, albeit rarely, minor fluctuations may arise. Please be assured that our dedication to delivering unbiased assessments, exhaustive scrutiny, and well-informed perspectives remains resolute.
HOW TO OPEN AN ACCOUNT ON LEXATRADE?
MT4 is one the world’s most famous and reliable trading platforms for Forex. The user-friendly UI of the platform helps both beginner and professional alike. The platform is somehow new in comparison to some reliable names dominating the forex industry.
How does LexaTrade Scam work?
The usual amount asked by legitimate brokers lies in the range of $5 to $10. If the broker asks for an amount more than the average, chance of a scam. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform. The https://cryptolisting.org/blog/how-is-materiality-determined broker is unregulated and has a lot of disadvantages which overshadows its genuine features, such as high spread charges. The genuine features of the platform that are worth considering include bonuses, advanced trading platforms and learning programs.
Do LexaTrade Offer Research Support?
However, withdrawals may take a bit longer, usually about 3-5 business days to process. This is to provide the necessary time for necessary transaction procedures. This is another RED FLAG, because these types of websites are notorious for fraudulent schemes. And that’s without mentioning our hunch that the broker isn’t entirely honest.
To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA. Unfortunately, LexaTrade is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority (FCA). If you have already deposited money with LexaTrade, and you have been unable to make withdrawals; which is very likely, don’t worry, there may be a way or two to get your money back.
LexaTrade learning is an interactive educational feature that aims to help novice traders to understand and learn about the market. Brokers Complaint can have advertising and affiliate relationships with some of the trusted recovery companies and may be compensated through them . Brokers Complaint is committed to the fair handling of reviews and posts regardless of such relations. Also, scammers, as you read in this ASR review, are famous for not withdrawing your money. They may ask you for more and more money and never return a single penny of your earnings. Your financial security is of paramount importance to us, and we fervently endorse the exercise of due diligence and seeking professional guidance when making investment decisions.
LexaTrade is unregulated, which is a major red flag against the broker in this LexaTrade review. Mostly, unregulated brokers offer investment opportunities that look and sound very attractive, with the highest potential gains. Sometimes, they share fake information about the regulation, but true information is consistently available through the regulator’s sites, so analyze it cautiously.
