Lexatrade Review ¤ Lexatrade is a scam Avoid this broker ¤
High deposits are not in the favour of the regulatory bodies. Whereas, this broker tends to charge a huge deposit amount which is a major red flag to avoid moving further with your investment journey. The same criteria go with leverage, as the leverage offered by legit firms is low and in small amounts. Whereas, the broker tends to offer high leverage, shaping it as a scam broker. This broker offers high leverages which can cause a big loss to traders if things go wrong. So notorious in defrauding people of their hard earned money.
- LexaTrade’s owner TF Trading is predicated within the UK, however isn’t regulated.
- Trading in the overseas change market and utilizing leverage involve appreciable dangers and should cause a partial or complete loss of funds.
- They are capable experts with the ability and instruments to detect a con artist and get your assets back.
- The platform is designed to cater to the trading needs of both newbie and experienced financial market traders.
In an attempt to attract as many traders as possible Lexatrade Forex broker offers several promotions and offers, these programs include bonuses, referral, and partnership programs. The leverage offered by Lexatrade far exceeds the value allowed by European law, and therefore it should be remembered that they expose clients to greater risk. I know from experience that working with Lexatrade you will see zero on your account faster than galloping profits. Of course, there will be pluses in the beginning and everything will be spinning like a crazy carousel – until you want to pay. Then the explanation is that the markets are so unpredictable BUT another deposit can help – and of course a bonus. As we are wrapping this in-depth LexaTrade review, the only thing I would say is to avoid this platform.
A bunch of cheaters who have looten thousand of ppl till now n this may be ascertained from the reviews. They make false promises and convince you to invest money with a minimum amount of $250 once u visit the site. N then…u r trapped… B sure ..ur money is gone within days… I lost my 250 dollars within night. At the start they will tell u that they give 100% Insurance over the capital amount bt it’s big lie… They won’t give u even a penny. N even u earn or make money from this platform, they will not let u withdraw money till u lose all ur money… There r lots of if n buts wen u wish to withdraw.
And if you’re already depositing that much, there are many brokers that do what Lexatrade does but better. Of course, the broker has options for downloadable terminals, web platforms, and mobile apps. The default proprietary platform is good enough, with an intuitive interface and a solid set of analytical features.
Its underlying technology lets you trade with limited risk and unlimited potential, without margin requirements. Easily accessible during the trading week, and we are satisfied with it. Phone support executives provide you with the best solution to your queries. Email support functions well but takes a little time to get back to you with relevant answers.
Try them out and let us know if they are still up to their reputation. But at the same time, for people with a head on their shoulders, Lexatrade is quite a working tool. I used to trade in crypto, then I moved to the foreign exchange market. I registered with them by depositing $250USD and play couple of trade and earned $236usd.
MT4 is probably the world’s most renowned trading platform for Forex. Yes, LexaTrade is a scam broker as it is not regulated by any top tier regulatory watchdog. 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.
As Soon As You Gain Money they Disable Trading On Your Mt4 Service Use: Livelength Of Use: 0
Below, we’ve listed some of the most important features you can benefit from. Apart from the above, the accounts don’t seem to differ that much at all. One is the real account, with your real money and the other is your demo account. When choosing a broker like Turbo Forex the administrative body and regulatory status of the broker is essential. Brokers who conduct trades without supervision of a regulatory body achieve this at their very own discretion. This Turbo Forex evaluate was written by trade experts with over 20 years of financial experience in Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.
In contrast, regulated firms are required by law to adhere to a slew of regulations that ensure the safety of client’s funds. The firm since diversified its product collection to offer CFDs indices and commodities while expanding forex contracts as well as vanilla options . Deposit Methods Forex Deposit Methods Discover which deposit methods smart forex traders use to make deposits and https://forex-reviews.org/ withdrawals in their accounts. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. All over the world, most forex and CFD traders have embraced the MT4 because it is free, sophisticated, scalable, and comes with multiple tools. In fact, you can extend its complexity and features using plugin apps that can be built using the MQL4 programming code.
That isn’t an exact rule, but it’s something we’ve found to be true more often than not. For us, the elephant in the room when visiting lexatrade.com is how clunky the language is there. It seems like the website wasn’t designed in English, but rather translated from another language. We know some brokers like to take that approach, and it usually works moderately well.
Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from them as they are anonymous and that they can disappear any time without notice. Companies providing online brokerage services without a license cannot provide their clients with any sort of protection.
Keep yourself away from The Scam Broker If You Notice the Following
Depending on the nation where lexatrade scam you reside, you’ll be able to search on google to find the regulating company for Forex brokers in that nation. Take time to go searching the Turbo Forex platforms and practice yourself to suppose extra systematically and logically concerning forex trading the markets. It’s a brand new skill-set for a lot of, but it is what the market requires lexatrade review of you. Besides, LexaTrade has its inside audit of the capacity of its funds to perform its duties to merchants. Trading Brokers have spent thousands of hours researching and conducting in-depth analysis on tons of of online trading brokers. They will not be appropriate for you as they carry a high degree of danger to your capital and you’ll lose more than your preliminary investment.
Each file is different but MyChargeBack knows all the procedures to speed up your file. ’s business, there is a chance their activities may expand beyond that. However, if this is the website you were trying to find information on, we are happy to provide you with a non-bias review and rank.
On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. 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. Also keep in mind that the company is regulated , which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all.
Now in this Lexatrade Review, let’s take a look at how you can best contact the customer support team. Lexatrade offers fixed spreads, meaning the cost of a transaction remains the same no matter the market conditions (e.g. volatility or liquidity). Fixed spreads provide improved transparency behind trading activity costs, whilst also making trading more predictable.
This is a feature that Lexatrade includes on their web platform that basically allows a trader to cancel a trade after it has been placed and executed. Well, it means that irrespective if the market moves below your stop loss, it will be executed. This gives you an extra piece of mind as you know that irrespective of how volatile the markets, you will be stopped out and your loss limited. Of course, leverage is a double-edged sword and you want to make sure that you have implemented the correct risk management procedures to limit potential downside potential. If Turbo Forex violate any regulatory rules their regulated status could possibly be stripped.
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. Making its major task to supply high-notch services and efficiently implementing it, the dealer proves it’s a critical organization. As for the disadvantages it carries, its reputation is tainted mainly from the absence of tight regulatory oversight.
However, for those just getting into crypto trading, we’d advise against buying and owning the underlying assets as it can be volatile. Moreover, if you’re new to crypto trading, having too much choice could be a hindrance. That being said, there are advantages to owning the underlying crypto asset. If you’re interested in owning the underlying asset, we recommend looking into mining software and the best cloud mining sites. Once you’ve made any profits and wish to withdraw them, you can do so without fees with Lexatrade. This means getting your hands on 100% of your profits which is always an advantage in our eyes here at TradersBest.com.
LexaTrade Review: Leverages and Accounts
No, but many people are still sitting on the fence about them. LexaTrade has its own set of merits and demerits just like every other platform. It is not fair to judge them solely based upon a single factor.
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.
You can contact the customer support by using email, phone numbers, live chat, Viber, and Messenger. However, consider the client support agents as the last resort, because the broker developed several FAQ sections tailored for covering the most common issues. The customer support team at Lexatrade is comprised of highly professional individuals. 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. Regardless, we still have to consider the legal documentation presented in its official site.
Lexatrade has served more than 142,500 traders and has executed more than 56.3 million orders. 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.