03 Feb LexaTrade Legitimate or Fraudulent Brokerage Firm
Fortunately, client support is still available for everyone on the platform, regardless of their status. 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 has quite a few impartial reviews, but it’s important to remember that it’s also a fairly small broker, at least compared to the established leaders in the industry. It allows Lexa to do their own thing without bearing too much responsibility on their shoulders.
Yet still, there are many exchanges and brokers that give you just as comfortable an experience without making you pay extra. So trade historical past can be checked wherever a trader could also be. It is a slick trading app and is a superb addition to the vary of features provided by the model. It has been created with the dealer lexatrade reviews in mind, but has been thoughtfully developed to ensure it offers a full range of functions across a number of units. XCritical- Another external platform that LexaTrade offers is the xCritical system.
The user rating
You additionally get entry to some educational resources, including one primary lesson, every broker forex day market report, trading central, and two every day TC SMS alerts. When it involves webinars, this is the only tier that doesn’t offer any. Whether you are a novice or knowledgeable dealer, you will feel at residence buying and selling with LexaTrade. True enough, IFMRRC does not hold the prominence that other well-known regulators have. While this may seem unfavorable for clients looking for well-regulated brokerage firms, it can be concluded that LexaTrade is still a decent broker.
- The fund entitled traders to say lexatrade scam as much as a maximum of 20,000 euros.
- 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 has quite a few impartial reviews, but it’s important to remember that it’s also a fairly small broker, at least compared to the established leaders in the industry.
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. 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.
See how LexaTradepares to the highest choices platforms by reading one of the evaluations beneath. While LexaTrade is equipped with impressive advantages, it still faces negative reviews. This may be from the company’s financial malpractice or maybe from competitors’ interest to drag LexaTrade down.
To neutralize the backlash that LexaTrade faces, attached below are two positive reviews taken from the web. Similar to other brokerage firms, LexaTrade has its own set of benefits and setbacks. Lexatrade is registered on the New Grenadines – a very popular off-shore location, especially for brokers. Being registered in the tax-free location also means your company won’t be regulated by the trusted financial establishments.
Trading with LexaTrade
If you look at Lexatrade as a provider of services, it doesn’t look all that impressive. The list of assets includes shares, indices, crypto, commodities and foreign currency, and that’s about it. There are also indices, stock and commodities, but you’ll have to unlock them first.
I’m buying and lexatrade rezension selling with this dealer a pair years and I never heard a single story like this. However, they also rarely forbid the majority of their users from using other software if they feel like it. Nevertheless, it’s strictly stated that you can’t use MT4 (and it’s the only third-party piece of trading software you can use) unless you pay Lexa more.
LexaTrade Review 2020
And speaking of tighter spreads, they really are low on this platform. 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. But then, if you chose poorly, you can lose your money to an untrustworthy broker.
Different reviews (including those written by the regular users) suggest Lexa is pretty safe – both from hackers and from inner fraud. However, there are several points that indicate that you still shouldn’t trust this broker completely. There are many other brokers that allow you to trade in all sorts of assets without confining you so harshly. It’s true that low spreads and good general performance do compensate for these limitations a bit, but you can only really trade here if you can trust the broker.
- Whether you are a novice or knowledgeable dealer, you will feel at residence buying and selling with LexaTrade.
- Its Customer Service Automation also known as the CRM fully integrates various payment processing systems.
- You additionally get entry to some educational resources, including one primary lesson, every broker forex day market report, trading central, and two every day TC SMS alerts.
- If you need to monitor your positions on-the-go then you’ll be able to all the time check in on the mobile apps.
- I’m buying and lexatrade rezension selling with this dealer a pair years and I never heard a single story like this.
- However, this education focus goes beyond simply providing educational material.
More so, it has been responsive and highly attentive in giving resolutions via complaint form, which can be found on LexaTrade website. Although they have assured that you’d get the cash again, right now, the one method to accentuate the method is to take the help of a fund recovery group. We also have a dedicated customer service staff who’s working day in time out to unravel all of your queries.
Lexatrade Forex Broker: User Reviews
Being a profitable subject, it has given rise to lots of frauds within the making which are promising traders with high returns which are greater than the average lot. This review was written to shed a light to some of the allegations about LexaTrade’s legitimacy. As the brokerage firm constantly faces negative feedback from its clients, it is necessary to conduct a thorough discussion of its services, offers, and overall functionality. More so, this latest addition to a bunch of https://forex-review.net/lexatrade/s aim to bring clarifications to tags on the internet such as LexaTrade scam, LexaTrade scammers and LexaTrade cheating.
Withdrawals are processed throughout regular Cyprus office hours and there’s a minimum withdrawal amount of $10. As is the case with deposits, the time that this takes relies on the tactic that is used. We would recommend that you just do your main buying and selling on the LexaTrade webtrader or the MT4 platform. If you need to monitor your positions on-the-go then you’ll be able to all the time check in on the mobile apps. It’s pretty comfortable to work here, barring all the treatment the lower account types have to put up with.
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. 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. What you’ll see is that Lexa heavily restricts pretty much everyone below the Gold status.
This restrictive policy is extended to other things also – the better parts of the broker are reserved for the more well-off customers. As with many different companies, traders sometimes complain of withdrawal delays. Many of the delays are due to the slow proofing of the identification procedures. The finest forex broker approach to avoid that is to send all your identification details earlier than making the withdrawal request. So you weren’t in a position to withdraw your money from IQOPtion dealer?