Sometimes scammers are increasingly using legitimate firms’ details to add an air of legitimacy to their scams. The fraudsters will ‘borrow’ some information from a legitimate firm for the purpose of fraud. They may quote authorization numbers/company registration numbers and links to seemingly legitimate websites and even provide the real address of an authorized/ legitimate firm. It means a lot to give more profundity concerning where and how the broker is regulated, where they reside, and who owns the business.
- XCritical mobile app offers an easy-to-use interface, traders can access their trading account on the go, without any hassle.
- As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies.
- Yes, the broker offers trading services across the globe with a focus on countries like India, South Africa and most of Asian countries.
- 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.
- It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller.
At whatever point you are in question about any dealer, the best practice is to let the asset recuperation experts help you. They are capable experts with the ability and instruments to detect a con artist and get your assets back. Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs. Trading platforms offered by LexaTrade are MetaTrader4, XCritical Mobile app, and LexaTrade WebPlatform. Thus, LexaTrade guides investors before they start investing through their educational resources. Fill out the application form with your personal information, including your name, mobile number, email address, and a secure password.
HOW TO OPEN AN ACCOUNT ON LEXATRADE?
But first, you must have evidence of the scam as proof that you haven’t been able to make a withdrawal. The dropdown menus have vague names, and as such, the categories inside them seem almost arbitrary.
- However, the tradition of taking huge minimum deposits is extremely common in scam brokers as their main aim is to steal as much money as they can from the trader before they get suspicious.
- The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features.
- 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.
However, it garnered popularity among traders with its one-of-a-kind features and the services. 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. There is no fee to open an account and the fees for deposits and withdrawals are not specified anywhere on the website.
Scam Victims Help has extensively researched the LexaTrade Review and found several red flags that every trader should be aware of. Read our LexaTrade review today to learn everything you need to know about this broker before signing up. Investing time in research before trying to invest on a suspicious broker can save you from potential losses and unnecessary stress. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances.
Simple Steps to Get a Chargeback From LexaTrade
One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too. When researching an online broker, the first and most important step should always be to find out if they have a regulatory license from a financial institution.
How To Trade On LexaTrade?
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 https://cryptolisting.org/blog/how-to-accelerate-your-learning-curve-to-10x-your-personal-growth 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.
Risk Warning:
IFMRRC stands for International Financial Market Relations Regulation Center. It’s a non-commercial organization that regulates about 60 brokerages. However, it’s apparent that it’s much less limiting than even the more lenient country-based regulators. Lexatrade is new forex and CFDs brokerage that primarily operates in Europe. It opened just earlier this year and has attracted a good bit of attention as such. In our Lexatrade review, we’ll look at how beneficial it is for customers compared to other options.
Rather than opting LexaTrade scam, we recommend you to incline towards a more trusted platform like InvestFW. 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. Here you get assistance perceiving a scam broker before you are excessively profound into it.
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.
